Page 24 | Buyers/Sellers Exchange waiting room

spidershavetoomanyknees · 2023-01-31T08:57:56+00:00

Currently waiting for exchange, stuck in a never-ending loop of "there's been a couple more enquiries higher up the chain" and "we're nearly there now". Wondering if there's anyone else who would like to join me here in the waiting room of doom to vent into the void. Next train for Exchange (line terminates at Completion) is currently delayed and they'd like to apologise for the delay.

RubyPip · 13/04/2023 20:44

PleaseJustText · 13/04/2023 18:26

Oh I'm so jealous of you all. We're still here waiting to sell. Viewings seem to be increasing which is good. The second viewing last week was postponed to last Saturday. It was all very positive at the time but the agents haven't heard back. We had a second viewing and a first viewing yesterday. Three viewings today. Two booked for tomorrow.

It's torture waiting for a buyer, you feel so powerless really. And so many time wasters.

Best of luck, the fact you've got viewings is really encouraging! Just takes one to love it. How long have you been on the market?

I'll be so glad when this is all over. We started viewing houses last May 2022, amid the madness, offered on two houses but hugely outbid (now thinking thank goodness) and didn't find 'the one' until October 2022. Luckily prices had started to fall and buyers were getting jittery so we got a bargain - offer accepted. Exchanged Feb, Completed March, with many hurdles along the way...then been for sale since January 2023 and took over 3 months to get an offer.

It feels like it's going on forever.

Accepted the buyers offer on Tuesday, filled in Ta6 & Ta10 etc yesterday and solicitor sent the draft contract and forms to their solicitor today.

So I've done all I can, now it's up to the buyers to sort the survey, mortgage and ask for the searches to be sent off. Hoping that they're proactive!!

Wistfully hoping for completion in June/July...

SnapBang · 13/04/2023 23:04

The whole process needs an overhaul - can’t believe how difficult it is to buy and sell houses. Good luck to everyone!! We thought we’d never end up moving, it’s surreal we’re actually here now. Have been hosting family this week who’ve come to see the new house. Very exciting! You’ll all be in the same position sooner than you think. Fingers crossed for you all.

Fifthtimelucky · 13/04/2023 23:13

Completed today!

Very quick and painless as we only put the house on the market in the middle of January.

We've been very lucky.

PleaseJustText · 13/04/2023 23:20

@RubyPip we went on the market end of November. Accepted an offer in Mid-Jan. Wasted time with a buyer who took nearly a month to instruct solicitors then another month to admit his mortgage application was refused. We've been back on the market for a month and now the people we were buying from have gone back on the market too. I'm still holding a little hope we'll find a new buyer before they sell but it's nerve wracking.

PleaseJustText · 13/04/2023 23:20

Ooh congrats @Fifthtimelucky

Winemygoodenemy · 13/04/2023 23:33

I had my offer accepted end of feb. We are at enquiry stage and searched been completed. Got a list of 18 enquires. No idea if this is good! They want me to electrically test and provide a certificate. Said no, they are threatening to pull out as they said they need this to rent my house out!!

MrsBlondie · 14/04/2023 11:03

Winemygoodenemy · 13/04/2023 23:33

I had my offer accepted end of feb. We are at enquiry stage and searched been completed. Got a list of 18 enquires. No idea if this is good! They want me to electrically test and provide a certificate. Said no, they are threatening to pull out as they said they need this to rent my house out!!

Surely that is up to them to sort once they move in then? Or they can do it now via you = but they pay for it!

Winemygoodenemy · 14/04/2023 11:52

@MrsBlondie exactly. Told my solicitor that. It’s frustrating. They want a Japanese knott wood survey done and got me to mark out my sewers etc. I don’t know if this is normal or just being pedantic.

MrsBlondie · 14/04/2023 12:18

Winemygoodenemy · 14/04/2023 11:52

@MrsBlondie exactly. Told my solicitor that. It’s frustrating. They want a Japanese knott wood survey done and got me to mark out my sewers etc. I don’t know if this is normal or just being pedantic.

Not normal. We havent done this on our purchase and it hasnt been done by our buyers.

If they want to rent your house out that is up to them to sort all the paperwork!

Karmatime · 14/04/2023 12:19

@Winemygoodenemy If your buyer is buying to let then they will need an EICR and gas safety certificate but this should absolutely be at their expense. The same goes for the Japanese knotweed survey and any other checks they want.

RubyPip · 14/04/2023 13:59

PleaseJustText · 13/04/2023 23:20

@RubyPip we went on the market end of November. Accepted an offer in Mid-Jan. Wasted time with a buyer who took nearly a month to instruct solicitors then another month to admit his mortgage application was refused. We've been back on the market for a month and now the people we were buying from have gone back on the market too. I'm still holding a little hope we'll find a new buyer before they sell but it's nerve wracking.

That sounds incredibly frustrating, why do some buyers find it so easy to waste time rather than just be honest? It baffles me. Fingers crossed you'll get a buyer soon, coming into Spring now is thr best time of year at least.

@Winemygoodenemy that's not normal at all. Beyond ridiculous to expect you to provide the EICR, that's their responsibility. And if they want details about pipes and sewers they can pay a company for that.

That's a huge amount of enquiries, I'd wonder are they stalling? Or trying to find a reason to lower their offer?

Winemygoodenemy · 14/04/2023 20:20

@RubyPip my solicitor called today and explained. She said some enquires are normal and not to worry. She advised me to take out an indemnity policy to cover and say no.

Ingest thing now is the lease. It’s 2 flats in a block and apparently I own the freehold of above and they own mine / crossover freehold. I didn’t know that. The flat above got sold few months ago and their solicitor hadn’t changed over the freehold from previous owners. A frustrating delay.

i had to contact old owner to explain. They are happy to sign whatever. Current owner happy to sign but it not pay. His solicitor is asking for payment to rectify his own mistake. My solicitor is angry as it should have been spotted. At this point I will pay to stop any delays.

Chippy1234 · 15/04/2023 11:47

Buyers have most of the cards now and are taking days/weeks to go onto the next stage. I am heartily sick of the time wasters and quite frankly liars who waste time

EstherHazy · 15/04/2023 13:25

Golly quite a lot of contempt that always seems aimed at the other side whichever way you are buying or selling!! It can't always be the other end's fault every single time!

I was waiting 10 weeks for the sellers building regs certificates (it's a nearly new house so god knows why they hadn't got them). In the meantime I was made aware I could go for a better rate on my mortgage, which may have held things up if they'd got the certificates through. I took a gamble on the potential delay I'd cause, and it paid off - I've got the better rate confirmed and I am still waiting on their bloody certificates!

HangerLaneGyratorySystem · 15/04/2023 16:00

Room for another? I have questions. So we accepted an offer last week, only been on 6 weeks, 4 viewers. Its £10k below asking price - we asked if they could go a bit higher but apparently their mortgage broker said no. Yesterday we sent an email formally accepting their original offer (splitting up so we need to crack on). The agent said that they were going to have to do "something" today - it sounded like signing some papers, or bringing proof of ID etc. I said ok I'll hear from you next week then will I? Agent said something about needing to "check our road".

Today she rang first of all and said that the buyer had not attended the appointment so I was thinking that's not looking good. Then later apparently he had called in and the agent was now trying to get the buyer a "better" mortgage through their own broker. I said well he already had a mortgage didn't he? They said yes but we need to "check your road". What does that mean? A mortgage specific to our road?!

There's not much I can do now; I'll leave it till Monday but is the agent gaslighting me in some way do you think? And also if buyer can get a "better mortgage" maybe they would have been able to offer more and we should have been told to wait till Monday rather than accept the offer last week? Full disclosure - we agreed a fixed rate with the agent, so there was no incentive for them to achieve a higher price for us.

MrsBlondie · 15/04/2023 16:11

EstherHazy · 15/04/2023 13:25

Golly quite a lot of contempt that always seems aimed at the other side whichever way you are buying or selling!! It can't always be the other end's fault every single time!

I was waiting 10 weeks for the sellers building regs certificates (it's a nearly new house so god knows why they hadn't got them). In the meantime I was made aware I could go for a better rate on my mortgage, which may have held things up if they'd got the certificates through. I took a gamble on the potential delay I'd cause, and it paid off - I've got the better rate confirmed and I am still waiting on their bloody certificates!

We had to wait nearly 2.5 months for paperwork from.barrett homes 🙄

MrsBlondie · 15/04/2023 16:12

HangerLaneGyratorySystem · 15/04/2023 16:00

Room for another? I have questions. So we accepted an offer last week, only been on 6 weeks, 4 viewers. Its £10k below asking price - we asked if they could go a bit higher but apparently their mortgage broker said no. Yesterday we sent an email formally accepting their original offer (splitting up so we need to crack on). The agent said that they were going to have to do "something" today - it sounded like signing some papers, or bringing proof of ID etc. I said ok I'll hear from you next week then will I? Agent said something about needing to "check our road".

Today she rang first of all and said that the buyer had not attended the appointment so I was thinking that's not looking good. Then later apparently he had called in and the agent was now trying to get the buyer a "better" mortgage through their own broker. I said well he already had a mortgage didn't he? They said yes but we need to "check your road". What does that mean? A mortgage specific to our road?!

There's not much I can do now; I'll leave it till Monday but is the agent gaslighting me in some way do you think? And also if buyer can get a "better mortgage" maybe they would have been able to offer more and we should have been told to wait till Monday rather than accept the offer last week? Full disclosure - we agreed a fixed rate with the agent, so there was no incentive for them to achieve a higher price for us.

Are you on a new estate? The house we are buying is on an unadopted road which meant the seller had to get out some extra insurance

HangerLaneGyratorySystem · 15/04/2023 16:25

No @MrsBlondie this house was built late 1940s.

EstherHazy · 15/04/2023 17:14

@HangerLaneGyratorySystem That sounds very fishy!

I reckon the buyers only have an Agreement in Principle at this stage so the EA is trying to get them via their mortgage broker to get commission - it's unlikely they'll have a full mortgage offer yet unless they'd previously offered and been accepted on a house and then for whatever reason that fell through. So they shouldn't be telling you they have a mortgage if they only have an AIP - it's a big difference.

I have three thoughts about the 'check your road' thing. My mortgage company needed to be informed my house (to be) is on an unadopted road and it was totally fine. I reckon the EA is just an idiot and confused about which is your property because they have another one on an estate which has charges similar to leasehold.
Or, the mortgage company will need to do an independent valuation on your property - maybe they mean this? - but it shouldn't be an issue when the offer is under asking price at all.
Thirdly, they are just totally messing you around. They want the commission on the mortgage and are just stalling for time, or the buyers finances are tight and they are having trouble getting the mortgage they thought they could get.

I'd ring them on Monday and ask them specifically what they mean!

HangerLaneGyratorySystem · 17/04/2023 14:13

No update on the sale but I have a question about buying - so yesterday I saw a house I was interested in, and rang today to ask if its still for sale - it went on the market on 13th April so I thought that was a reasonable question - is it still for sale or not?

They won't tell me. They said they had some viewings so they don't know what's happening I've rung twice today and they didn't even want to take my details.

I thought it was a buyers' market at the moment? What if I had wanted to make an offer on it? Makes me wonder if that's how my house sale as been handled!! (although its a completely different agent, makes you think though)

Allfurcoatandnoknickers · 18/04/2023 16:56

We are STILL waiting to exchange!! Accepted our buyer's offer on 23rd December and he's still not had his mortgage offer accepted. He's holding the (small) chain up. Our vendors are moving into rented to have their property (deceased estate) renovated and that's the chain! Our buyer is moving from rented. I'm really hoping to get in the house in May but still not sure if that's going to be viable...

PleaseJustText · 18/04/2023 19:02

Oh @Allfurcoatandnoknickers that doesn't sound good. We had a buyer in January who took a month to instruct solicitors. Then he was slow in correspondence with his solicitors. It turned out his mortgage was rejected but he didn't want to tell us while he tried a second application.

@HangerLaneGyratorySystem that sounds a bit strange. The agents around here are really keen. Maybe they thought it strange that you called up to ask if the property was still for sale.

Allfurcoatandnoknickers · 18/04/2023 19:14

@PleaseJustText what is wrong with people? I’m hoping this is sorted out. He’s been in rented quite a while so tells us he’s really keen to move yet doesn’t seem to be very proactive. I’d be ringing the bank every day!

PleaseJustText · 19/04/2023 09:12

I have no idea but it really pissed me off. I don't understand people who start the process and then meander along. We've lost the house we offered on because of him. Though they haven't sold yet so I'm still hoping we get an offer before they do. I'm losing hope with each passing day. There's so much more on the market now.

Allfurcoatandnoknickers · 19/04/2023 09:24

@PleaseJustText yes that's my worry that we're going to lose our house that we've offered on. It's very stressful.