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!

[instantpotnoodle]

@instantpotnoodle

Ours have been quick so far but the we and the vendors are using the same firm
so solicitors can’t drag it out!

Sorry thought you were asking about how long to get responses to enquiries.

yep - on how long to completion, could be quick, could be ages…that’s how rubbish the system is!

[orangegato]

Bought my house last year but these threads make me feel queasy when I remember the torment of waiting. It’ll all be worth it in the end!

[Wednesdayonline]

My conveyancer is rubbish! Can't believe all the good reviews they had. They keep avoiding questions by only replying to one part of it. They sent us a letter in response to one of my emails which was the same letter they sent me 3 weeks ago! And I chased them today for sellers response to enquiries and they said to email them next week for them to chase because the sellers generally need 2 weeks to respond, but it's been 3 weeks since the enquiries were sent to them!! So frustrating.

[Jonsnowsghost]

We were in track for exchange/completion by the end of May but now my buyers have contacted the estate agents to say they're not happy with some of the responses to further enquiries and unbeknownst to anyone had re-applied for their mortgage (2 weeks ago!) So clearly had no intention of sticking to the end of May as a date.

This information still hasn't been passed on to the solicitors so I'm currently not sure what to do and it's looking likely that I'll have to re-apply too so getting all my payslips together. At least rates are slightly better but it was a hassle last time 🙄

I repeat, never moving again!!

[Karmatime]

We are 5 weeks into buying, chain free both ends and we are cash buyers. Searches are back, survey done (no issues) and replies to initial enquiries are being reviewed by my solicitor. The management pack for the share of freehold came through at the end of last week so that needs to be reviewed and will possibly raise some further questions. I’m still hoping that we can exchange mid June to enable us to give notice on the flat we are renting. The sellers are still to secure a rental property as far as I know but we can be flexible on completion up to mid July and they have said they are happy with that.
My solicitors are pretty good but they haven’t made any commitments to dates yet but they also haven’t said it can’t be done!
Do you think 4 weeks should be enough to get to exchange from this point?

[Jonsnowsghost]

This probably a really stupid question but Google isn't helping me and I don't think it warrants starting it's own thread...
I have no idea how it all works but if you want to offer a lower amount due to survey results (say 10k off the original offer due to possible damp proof work for example), how is that money then freed up to allow you to do the work? Is it implied that it's taken from your deposit or can you take it from your mortgage?
As I said, no idea how it all works so just trying to find out :)

[instantpotnoodle]

@Jonsnowsghost

This probably a really stupid question but Google isn't helping me and I don't think it warrants starting it's own thread...
I have no idea how it all works but if you want to offer a lower amount due to survey results (say 10k off the original offer due to possible damp proof work for example), how is that money then freed up to allow you to do the work? Is it implied that it's taken from your deposit or can you take it from your mortgage?
As I said, no idea how it all works so just trying to find out :)

Usually you hold back the amount from your deposit.

[Jonsnowsghost]

Thank you :)

[onthefence23]

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

[onthefence23]

3 months after we accepted her offer she's decided it's not the right fit

[Flubadubba]

@onthefence23 I'm so sorry. What has the agent/your solicitor said?

[onthefence23]

Not a whole lot really, agent is frustrated but people can pull put out for any reason even a crap flakey one. Solicitor has said our mortgage offer will expire so we will need to re apply and re market if we want to go ahead or we can just give up!

Feeling so poorly as well and dd was up all night so was not in a good place to receive the news and cried at work

[Flubadubba]

Sometimes all you can do is cry. The English system is horrific.

Hope you feel better soon.

[onthefence23]

@Flubadubba

Sometimes all you can do is cry. The English system is horrific.

Hope you feel better soon.

It really is, we're going to have a good cry and a bottle of wine tonight then decide if we have it in us to try again. We had even started packing up the none essentials they were estimating a completion of mid June

[mumarooni]

Oh no @onthefence23 that is awful. What a nightmare. I can't believe they would do that! Surely they've wasted loads of their own money on solicitor, survey etc too. Blimey. Do you think you will regather and remarket?

[Flubadubba]

Huge hugs @onthefence23. Do you have to move?

Tha one thing that worries me is that we need to be in place for next year's primary school admissions- if our sale/purchase falls through, then we really have no time or choice (and there is nothing at all on the market where we are looking now)...

[onthefence23]

@mumarooni

Oh no @onthefence23 that is awful. What a nightmare. I can't believe they would do that! Surely they've wasted loads of their own money on solicitor, survey etc too. Blimey. Do you think you will regather and remarket?

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

[bjkmummy]

@onthefence23

3 months after we accepted her offer she's decided it's not the right fit

I'm so sorry - you must be furious and upset all at the same time. What a shitty thing to do

[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 🙈

[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...

[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.

[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!

[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?

[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!