Buyers sellers roll call 17 - the one where everyone finally completes

[gingerninja1]

Last thread is now full so started another one so the mutual support can continue

@paranoidandroidmarvin
@takeyourfinalposition
@getyourassoffthatquattro
@shineysides
@blacklilypad

Hi
Could I join?
I am a FTB and just got offer accepted last Friday. Vendor had an onward purchase but said they are not tied to it as they have somewhere to stay.

Waiting for the memo of sales. Finger crossing
J

4th Feb 2022 - offer accepted

@thelonggame, I accepted an offer on mine about a week after you did. My chain is even shorter in that I'm only selling and my buyer has sold her house to a cash-buyer in her village.

So, it's simple, straightforward, no probate, no mortgage, it really couldn't be any easier. But my/her solicitors are just so slow that virtually nothing was done before Christmas. We finally had the enquires through in early January and I'm now expecting the contract in the post to me this week for signing. Hoping to exchange and complete this month some time.

I really don't understand why it should take son long.

so long

We went on the market in July with an offer accepted for our onward purchase. Our sellers then decided they wanted more money but refused to acknowledge that wasn't what was agreed. It was very off they seemed to think if they just said their new price enough times we might just agree or think we'd made a mistake. Anyway they've been marketed by every agent in town now and still can't sell it.
Our buyers hung on and we found something else.
Now our new seller mislead us about building regs and we can't get indemnity insurance. Our buyers have decided at the last min they want indemnity insurance for something which even our own solicitor admits she can't identify who could make a claim it's so vague and improbable. They say we should pay for it but we can't even understand what it's insuring against so have declined and said they can buy it if they want.
I didn't appreciate how much more stressful it would be selling and buying at the same time.
Meant to be exchanging this week. Hopefully.
Fingered crossed for everyone else.

Good luck with exchanging soon
@cupofdecaf
@Downnotdown
@Teacups27
@CheltenhamLady
@thelonggame

We all seem to be on the same boat! I was due to exchange last Friday which didn't happen, with completion 2 weeks later, on Friday (18 February).

Now my vendor seems to have gone AWOL, as the EA can't get hold of her, and her solicitor is not returning calls to my solicitor.

I've started lining things up from Saturday 19, like moving my things from storage, broadband so I can WfH from Monday, workmen to come and quote, however unable to confirm anything with anyone until I hear exchange has definitely taken place with a confirmed completion date.

I'm beyond frustrated, having been living with family for 7 months following my sale.

I can’t wait to start throwing things away and boxing up. It doesn’t feel like our home anymore. We’re smashed in here but my heads thinking ‘where will this go in the new house’ rather than let’s sort out extra storage here. The limbo feeling is awful.

We just exchanged! Solicitor said on the phone that this purchase has been a nightmare. Yes, I had noticed!

We complete on Thursday Solicitor says we'll probably get the keys quite early in the day as there's no chain.

Hope everyone else has some positive news soon too

Thank you @Starseeking. I've signed the contract and sent it back and have asked that they arrange dates for exchange and completion ASAP.

I'm lucky this time in that I'm only selling (I don't think I've recovered from the horror of selling and buying last time yet). My buyer has sold her house to a cash buyer and I'm totally flexible with regard dates and I'm hoping my buyer will be wanting to move in as soon as she can.

@cupofdecaf, that is so annoying when vendors demand more money. I know it's been said on here a thousand times but we really would be better off with a system similar to Scotland's in that once a price is agreed, that's it. I got gazundered last time round and the stress it caused was unreal.

Well done @ZimZamZoom, that must be a huge weight off your shoulders.

Good luck everyone else, we're nearly there, we can do this!!

Hi,
Iv been watching this thread for a while,
Ftb offer accepted on the 6th September,
4 properties in a split chain,
We have been waiting for 2 months for what we thought was the final enquiry for our vendors onward purchase,EA informs us on Thursday that everything is done an can we exchange/complete this coming Friday,
Nope our solicitor informs us that’s she wants the deeds to our purchase upgraded from good to absolute,that process takes 14 weeks!!I could cry!

Also been living with my IL’s for 8 months!

Urgh it is such a bad system.

I've just emailed my solicitor saying if the buyers want to pull out can they let us know so we can re market.

They want us to buy indemnity insurance for a covenant from the 1930s where some of the paperwork is missing. There's a very slim possibility our extension is built on a part of the garden that the covenant prohibits. No one can find the rest of the deeds to see which bits of the garden are prohibited. No one can idea who could enforce the covenant. If they did enforce it given the age of the covenant apparently any compensation would be minimal. The extension has planning and building regs etc.

Baring in mind we're rushing through our purchase that is missing building regs to suit our buyers timetable I'm not sympathetic. If it really matters to them they can buy it.

I'll add they mentioned it early on, gave us the impression it was sorted and then get difficult about it a week before exchange.

It's radio silence at this end while we await the damp survey report.

I've just done two night shifts with a colleague in a similar position to me, and it's been so cathartic to moan to somebody who completely "gets it"

I don’t know how people do this over and over!im losing my hair!..I don’t hold much hope of the chain staying together now as everyone’s mortgage’s and searches run out before the deeds are due back

@Fedupbuyer

Hi, Iv been watching this thread for a while, Ftb offer accepted on the 6th September, 4 properties in a split chain, We have been waiting for 2 months for what we thought was the final enquiry for our vendors onward purchase,EA informs us on Thursday that everything is done an can we exchange/complete this coming Friday, Nope our solicitor informs us that’s she wants the deeds to our purchase upgraded from good to absolute,that process takes 14 weeks!!I could cry!

Nope our solicitor informs us that’s she wants the deeds to our purchase upgraded from good to absolute,that process takes 14 weeks!!I could cry!

That is what happened to us. Our buyer then insisted we buy the freehold or he would pull out.

@CheltenhamLady Can I ask how long that process took?

If our buyer had asked earlier it would be done now, but they didn't. So we are still waiting. We have been told that the freehold can be transferred after completion, but that our buyer wants the process to be 'well under way' before they will exchange.

We had a bogus/untrue survey issue which when challenged went away, then an indemnity issue as well, as another poster mentioned. Our solicitor said it wasn't required, but our buyer insisted, and so we agreed to facilitate the sale. Then the lease issue came up.

It seems never ending.

@CheltenhamLady it is never ending,one issue after another,

We didn’t want to be annoying ftb so we haven’t actually asked for anything to be done,our solicitor did it all,

Ea said we can complete while the deeds get changed but our solicitor said no.

Has anybody here used a Lifetime ISA to buy their first home?

We have been in this process for over 6 months, and our solicitor has told us at the 11th hour that we cannot use the money from our Lifetime ISA as the deposit at exchange!? I didn’t think that was the case - we have seen no references to that anywhere, though I think it is the case for a Help to Buy ISA which is different.

Our vendor doesn’t want to do simultaneous exchange and completion, so I’m worried sick that this is going to fall through

We are using ours,you just give them your solicitors contact details,the solicitor confirms with them,then they can take the funds,it takes about a week.

Thanks @Fedupbuyer, we’ve done that bit and the solicitor has the money from the LISA. They are now saying that they cannot send it to the vendor’s solicitor upon exchange, and that they can only send it over on completion.

I don’t believe that’s correct, so have sent a couple of emails overnight linking the guidance, and will see what they say today.

Just feeling incredibly stressed that they have sprung this on me now!

@RingoTsar that is correct with a help to buy Isa I believe,our solicitor hasn’t said anything about it only being used on completion,
It’s just another thing to worry about in the long drawn out process

@Fedupbuyer neither had ours until yesterday, and they’ve had half a year! Will let you know how we get on today

@RingoTsar yes you can definitely use it at exchange including the bonus from what Iv read,the solicitor just had to put the funds back if you don’t complete within 90 days.

Our buyer has also had to take out an indemnity for building regs and planning for the house we are buying.

We are booked in with the solicitor to sign on Tuesday, hopefully the end is near 🙏