Buying and selling thread

[instantpotnoodle]

I couldn’t see one - anyone going through the long painful buying and/or selling? We’ve recently had an offer accepted, after chains collapsing 3x previously on 3 different houses. We’re chain free waiting for the upward chain to be complete.

on the plus - Barclays offered us our mortgage the day after we applied. Very different from previous applications which took a few weeks. Clearly quiet in mortgage land!

[Jonsnowsghost]

@IsItYoursOrIsItMine

I just don’t understand why they do this 🤷🏼‍♀️

I hope things start moving for you soon.

Me neither! Their Google reviews are pretty bad, seems like they hold up a lot of sales.
Still no responses either...

[cinnamonbiscuit]

We are also at our wits end with our solicitor. They informed us about 6 weeks ago (once searches done, mortgage sorted, survey booked) that they were merging with another law firm.. doesn’t sound too awful and yet here we are 5 weeks after they requested our mortgage offer to be reissued by the lender with their new name on it, still waiting indefinitely and unable to exchange until it comes through 😫.

Not to mention that my LISA money withdrawal needs to be authorised by the solicitor, but she can’t do it until the mortgage paperwork comes through and it can take up to 10 days just for that to materialise. I’m currently 7 months pregnant and only going to become more incapable of packing 😅 and our original completion date should have been yesterday. We also missed the deadline for giving notice on our lease yesterday as still no exchange date, so we are now definitely paying rent in July even if it all comes together soon. At the moment it feels like it’s never going to happen though, I’m starting to lose the will to live!

[IsItYoursOrIsItMine]

@Jonsnowsghost

We're still waiting for a response from the buyers solicitors, for a question sent 2 weeks ago 🤦🏼‍♀️ missing our end of May deadline. We've managed to extend our mortgage again by 4 months luckily so fingers crossed.
Spoke to the estate agents who have said the solicitors the buyer are using are notoriously terrible (slow and hold things up unnecessarily!) So that doesn't fill me with any hope!

I just don’t understand why they do this 🤷🏼‍♀️

I hope things start moving for you soon.

[instantpotnoodle]

completion dates are being discussed. All our searches etc are done and apparently the rest of the chain are similarly getting to the point of exchange 🤞

[Jonsnowsghost]

We're still waiting for a response from the buyers solicitors, for a question sent 2 weeks ago 🤦🏼‍♀️ missing our end of May deadline. We've managed to extend our mortgage again by 4 months luckily so fingers crossed.
Spoke to the estate agents who have said the solicitors the buyer are using are notoriously terrible (slow and hold things up unnecessarily!) So that doesn't fill me with any hope!

[IsItYoursOrIsItMine]

@instantpotnoodle

Oh what a pain. Great that your lender will let you move your mortgage deal across to any other property though - I’ve never found one that will! Good luck with the new purchase!

We had confirmation that mortgage has been approved for the new house yesterday so that’s a big hurdle out of the way.

However, it seems the vendor’s solicitor (not the vendor, they’re great and trying to chase) is a bit a shit. They had to chase for the pack which they filled out and returned within the day - our solicitor is still waiting for it a week later 🙄

We’re no chain and are both quietly hoping to complete by the end of July. Potentially ambitious but we can hope!

[onthefence23]

I did wonder that @DrySherry but I don't think it's the case, in the first instance we offered a discount to keep the sale going and she politely declined!

There's one other nearby that's come on since we sold and it's £35k more and smaller.

It likely will work in our favour though, no real detriment today and already had a higher offer 😊 prices are holding steady where we are to be fair,

Got some more viewings early next week so should be in a position again to get moving again soon!

[DrySherry]

@onthefence23

They must have done they had a really extensive survey and had done the searches, nothing came up on survey she says the area isn't where she wants to be anymore she's just changed her mind it's really odd!


Not sure yet dh wants to push on I'm just exhausted

We need to move eventually dd is 2 and schools are crap but we could wait a year, woukd lose about 3/4K if we pull out now we reckon

Possibly they have found an equivalent house at a lower price. So much stuff round our way is being reduced on a regular basis and sometimes by quite a lot. If a house you wanted, but couldn't afford, suddenly appears within reach what are you to do ?
It could also work in your favour @onthefence23

[Flubadubba]

@EggbertHeartsTina We lost a buyer last time, and it sucks (though my agent last time was amazing, and found another quickly at a similar rpice). My sympathies go to you. It is such a weird market atm that who knows what might happen.

[EggbertHeartsTina]

Can I please join? We agreed a sale on ours, and had offer accepted on a lovely house in March, but our buyer pulled out three weeks ago after waiting 6 weeks to book a survey. We accepted another (lower) offer the same week but it's going incredibly slow; he's not even had his mortgage offer through yet (BTL). My estate agents are very bimbly and seem overly worried about chasing the purchaser too often.

Our vendors have been wonderfully patient and understanding and I really don't want to lose the house they're selling - particularly as they are so decent and the survey was almost perfect (unheard of!)

I'm dealing with it pretty much single handed as my DH is being pretty useless. I feel so low, it takes up nearly every minute of my waking thoughts.

Our mortgage offer expires in September which is inching closer and obviously rates have gone up since then

We also, amongst the panic of losing a buyer, got ourselves a let to buy mortgage approved in the background (on our current house) but if we go down that route we have to redo our new residential mortgage through a broker, again subject to new rates, so not a route I want to go down. Plus I'm not sure now is a good time to become an accidental landlord. However if we lose this second buyer I can't put myself into a third chain so I will pursue it if I have to.

Sorry for rant, just have no one else to rant to!

[Adviceneeded234]

I’m so sorry, that really sucks it’s just so upsetting bcos you have everything planned: dreams/ hopes and then this happens. Will you be putting your house back on the market?

im on the other thread and our house went on the market in April. Got above asking price but just had this feeling. Anyway fast forward to having had our mortgage approved, buyers competed survey, they pull out a few days ago.

House is back on the market and we have 6 viewings the next two days. Half as many as we had the first time but it really does take the one.

[onthefence23]

"Oh I’m so sorry. Happened to us last year too. It’s the pits."

It really is! Its surprised me how upset I've been it's really knocked me. I thought I was more resilient

[instantpotnoodle]

@onthefence23

AAAAAAAHHHHHHHH our buyer pulled out two days before we were due to exchange!! 😡😡😡

Oh I’m so sorry. Happened to us last year too. It’s the pits.

[instantpotnoodle]

@Adviceneeded234

A minimum of 5 days and max of 28 days, have a google go make sure I’ve got that right!

I think more like how long is a piece of string. There’s definitely no max ( in England anyway!)

[instantpotnoodle]

@IsItYoursOrIsItMine

Hello, room for a small one?

We originally had an offer accepted end of January but pulled out last week due to the vendors refusing to deal with a boundary issue other than to offer an indemnity policy with an excess of £10k 😳

We have found somewhere just as beautiful, if not better but I’m just feeling in limbo and not in control of anything. We’ve literally lost 3 months of our life and and 2 months of our mortgage offer 🙄

The price is the same so hopefully no issues with the mortgage and there is no chain with us both wanting a quick result.

Hoping that a July completion isn’t too ambitious 🙈

Oh what a pain. Great that your lender will let you move your mortgage deal across to any other property though - I’ve never found one that will! Good luck with the new purchase!

[Adviceneeded234]

A minimum of 5 days and max of 28 days, have a google go make sure I’ve got that right!

[Messyhair321]

Tentative here, but we are I think going in the right direct, all paperwork as far as we know has been done and we have been sent the final deeds & exchange documents to sign. Solicitor has asked if we can agree a date to complete.

Does anyone know what sort of timeframe they usually give between our stage and exchange/completion?
just wondering how long we have to get ourselves organised

[Messyhair321]

@mumarooni

That's interesting re the covenant @Messyhair321 ! Do you mind saying what it was you weren't supposed to be doing all this time? No worries if it's too outing or something I just find these covenants so curious!

The covenant was not to change the look or build anything without the express consent of the (legal department) of the council. We live in an ex authority really old style house, in fact our deeds go back to 1900, we didn't know that this stipulation was there, as when we moved in all those years ago the solicitor didn't tell us. So bizarre, we have built on the house with planning and building control etc, but this covenant was that we had to go to a different department in the council...utterly odd that we had no idea...

[Jonsnowsghost]

I think my sale is going to fall through, due to my incompetent management company, sigh :(
Also getting frustrated with how long it takes solicitors to reply!

[IsItYoursOrIsItMine]

@mumarooni

That's interesting re the covenant @Messyhair321 ! Do you mind saying what it was you weren't supposed to be doing all this time? No worries if it's too outing or something I just find these covenants so curious!

We had one on our old house which said we were liable for the repairs of the local church roof.

An indemnity policy soon sorted it out.

I hope you sort the garden buying quickly, I presume the neighbour is in agreement?

[mumarooni]

That's interesting re the covenant @Messyhair321 ! Do you mind saying what it was you weren't supposed to be doing all this time? No worries if it's too outing or something I just find these covenants so curious!

[mumarooni]

We have solicitor paperwork through now so can get that started, (why does everything have to be hard copies?! We don't even own a printer so they'd a massive faff). We have survey booked, mortgage offer on place. Vendors have somewhere to buy with no chain. Slight concerns are the estate agents seemed really good but lots of them have left and new staff are flapping about a bit hopefully will get it together. And the house conveyancing may be complicated by vendors buying a bit of neighbours garden (in order to sell to us) at the same time. No idea which bit we've asked twice and not been told. It's a v v old house, looks in great nick but survey day will be a fingers crossed day for sure.

[Messyhair321]

Well we had a weird thing happen. Lived in this house for 20 years yet so happens that the buyers solicitor has found an old covenant which we've been breaching happily for the last 20 years..! No idea it was there I've even kept all paperwork from our purchase all those years ago & nothing was pointed out. It's sorted with an indemnity policy but strange.

And the buyers had a survey last week but as yet we've heard nothing about it. We're just plodding on hoping that we'll get completion around July.

Just very tense, was expecting to hear back about survey. Maybe they're happy with it?! Dare to think...

[IsItYoursOrIsItMine]

Hello, room for a small one?

We originally had an offer accepted end of January but pulled out last week due to the vendors refusing to deal with a boundary issue other than to offer an indemnity policy with an excess of £10k 😳

We have found somewhere just as beautiful, if not better but I’m just feeling in limbo and not in control of anything. We’ve literally lost 3 months of our life and and 2 months of our mortgage offer 🙄

The price is the same so hopefully no issues with the mortgage and there is no chain with us both wanting a quick result.

Hoping that a July completion isn’t too ambitious 🙈