Buyers Sellers Roll Call 15

[MotherofHeathens]

Because we're nearly at the end of the other thread and still inflicting this torture on ourselves...!

Everything crossed for you highwind

We have STILL not exchanged!!

Ugh, really fucking fed up now.

Apparently our sellers are still waiting on enquiries they sent over 3 weeks ago.

We have no home to live in from the end of next week!!! Starting to feel quite stressed now.

No go on this weekend's viewings. One potential buyer was disappointed they couldn't have three parking spaces for a one-bed flat.

The person who offered before and who is meant to be viewing again tomorrow has yet to confirm and I'm nervous.

we are ready to exchange on the one we are buying but our buyer has STILL not come back to us with his queries. Apparently his solicitors have advised him to wait till the searches are back. What is odd is that we are in the same London borough and our searches were back ages ago (which makes me wonder how quick they were to put theirs in).

we sold our other property ages ago (pre June 30th) and really need to get a move on because we can't fit all the kids in this house. I don't think our survey was that positive so I'm a bit worried about what will come out! Don't think I can manage the buyer dropping out now!

We are ready to exchange. Not sure what I’m waiting for…?!
Are completion dates set before or after exchange happens? We’ve had completion dates mentioned, but not confirmed.

All parties need to agree on a completion date before exchnage of contracts can take place.

I have another viewing tomorrow afternoon, a first time buyer who had previously offered but was pipped at the post by the disappearing buyer.

I am crossing everything.

MORE queries raised by our buyers to our management company (selling a leasehold flat). Such a pain because they take forever to come back every time despite me chasing them. Why can't they just ask all their queries in one go as they are completely unrelated to one another as well!!!

No news yet on our 6% below asking offer....

Not that I am surprised, the house has only been on the market just less than a week.

Though I am happy that we haven’t been told to clear off straight away.... haha

Seems like a lot of sales are falling through right now.... so maybe if they run into trouble with a different buyers and then need a new buyer quickly.....

Ah, it’s totally not going to happen but I can dream dammit! Lol

Good luck @Highwind!

We are still sat twiddling our thumbs here waiting for new chain above us to catch up. Trying to push it all out of my mind for another month or so.

I'm getting worried as all has gone quiet on the sellers end as we enter the fifth week since enquiries were sent to their solicitor. Chasing has been fruitless so far. Am hoping it's not a bad sign.

I swear this whole process is knocking years off all our lives from stress!

It is ridiculous the amount of time that can pass without so much as a courtesy email.

Looking to exchange Friday…. Maybe…

Contracts got stuck in the hands of the Royal Mail and took a week to arrive 🤦🏽‍♀️

My second viewing cancelled yesterday and is now ignoring calls from my estate agent. I've called the vendors' agents to let them know.

I've been on the market for 4 months and am sick of the whole thing. I may take it off sale and reconsider in September or March.

Haha I chase up my solicitor if I go 2 days with no response . Pretty sure she hates me.

might be exchanging tomorrow 🤞🏼
Dare I say it out loud 🙈

Hope it's okay to join the thread. We just received an update from our lender following their valuation of the property we're supposedly purchasing, and it's been down valued by £100k (almost 20%). I'm familiar with the issue of down valuation, but never heard of it on this scale. Has anyone experienced this?

We are also hoping to exchange tomorrow, all have agreed a completion date of 29th so fingers crossed! I am booked in to be induced 10 august when I will be 38 weeks so we really need this date to go ahead!

@TheCrookedKind wow that’s a lot! Did you offer a lot more than asking price? Or is it a bit of a 1 off type of house so difficult to value?
What’s your thoughts? What’s your LTV? Can you still afford to buy it?
We are having our mortgage valuation at the end of next week, they are doing a proper in person visit which I’m surprised about as we are only borrowing about 15% of the overall cost.
I’m not sure how I will feel if they down values the house.

Good luck to everyone hoping to exchange today!

We filled in the initial paperwork and returned it to the solicitors yesterday. We are pushing to move ASAP as our buyers are ready. Fingers crossed for by the end of the summer holidays!

Am pinteresting lots of decorating ideas, DS has requested a purple bedroom!

Fingers crossed for today 🤞

My vendor has agreed to wait a while for me to sell my property so I have a short amount of breathing space.

we are apparently FINALLY getting our buyer's queries today! Keep your fingers crossed aargh!

@Itscoldouthere No - it was a guide price and we offered £10k under it. It's an ex council house in a small street of the same houses, so in that sense it's not a one-off, but this house has a double side extension which adds two bedrooms, a bathroom and a utility, so is not really comparable with the surrounding 3 beds. I wonder if they have not accounted for the extension?

@TheCrookedKind well I would query it, see if they did an actual visit or was it a drive by or desktop? I’ve certainly heard of down valuations of 20/30 but 100 is massive and I imagine will make it difficult for you (or anyone) to buy at the price you’ve offered and the vendors now expect.

Irrationally annoyed that the house we have just pulled out of buying is back on the market for the same price despite a dodgy survey 🙄

@Itscoldouthere I am fairly sure they did not do an actual visit. But the broker doesn't think there is much scope to get them to change it. We are getting our own survey done in a couple of weeks so if that comes back different we can try discussing it further with them.

It would still be possible for us to buy it because our LTV would remain under 50% even with this, but I'm not sure we should! I'd be concerned that the same thing happens when you come to sell it, and a future buyer wouldn't want to pay extra, in which case you've effectively swallowed a large additional cost.