Buyers/Sellers Exchange waiting room new thread

[thoughtsofmoog3]

I noticed the last one was full, so here we go!

Hello to the newcomers and welcome back to those who are still working their way through the joys of house buying/selling.

@IsItYoursOrIsItMine I need people like you to remind me that buyers can be reasonable!

I want to gazunder my seller out of spite because they've messed me around so much but that will delay things further. We've agreed a completion date of the 1st.

@Overlycautiousbynature We've bent over backwards to be accommodating. I'm sorry you have been messed around. Maybe it's best to pull out and start again?

I can't. Everywhere in the UK may be seeing a price drop but here prices are fairly stable/some areas are increasing. I wouldn't get a property like this in this location at this price if I tried to and I think they know it. They've got me over a barrell!

@Overlycautiousbynature same situation here - vendor is in a super strong position and I’m not going to pull out because location is perfect. Unfortunately that means they’re basically being dicks about everything and refusing to be even slightly reasonable! Just keep telling myself that once I’m through this I have a house for life and it won’t matter!

Anyone buying a new build? Built and ready (not off plan). My solicitor is completing searches now... any idea how long after that? No chains.

After some very angry estate agent emails and slow funds confirmation from lender, we finally exchanged contracts on our three-link chain yesterday. Move next Friday. Phew!

Yay! You got there 😅

Buyers don't always seem to get that the valuation is for the property in its current condition at the time of the survey, not with all defects rectified.

My buyers and my sellers are arguing over completion dates. The buyers want next week. The sellers want the week after. Our sellers agreed to move into an air BnB to meet the buyer's date if they could exchange yesterday, turns out our buyers don't have all of their deposit on account.

We're just sat here in the middle hoping it doesn't fall apart. We've told our solicitor to just agree with whatever everyone else does and we'll make it work.

Sellers don't seem to realise an offer is made based on what is seen however if extra problems are flagged in the survey buyers are well within their rights to ask for them to be fixed or have the price reduced to factor those issues in.

Buyers don't always seem to get that the valuation is for the property in its current condition at the time of the survey, not with all defects rectified.

Oh I wish you could come and tell my colleague @BungalowBuyer She's buying a probate property. It's clean and tidy but some things could do with updating like the windows, electrics, old boiler. After weeks of ranting, I suggested she give it up and find something a bit more up to date. Her response was "no, the one around the corner is £50,000 more, I can't afford that. I'm just going to tell the agents they need to drop the price or fix these issues". I feel sorry for the family selling it but didn't have the strength to explain it all to her.

It's all open to negotiation but expecting a property to be made perfect, when it's been valued in its current condition is unreasonable.

Everyone further up in our chain is ready to exchange. Found out 2 weeks ago the ftb at the bottom has only just got mortgage approved and now they're doing every survey in the book. Furious as my buyer has been stringing me along with "oh my solicitor is slow I'll chase" when actually he knew his buyer was doing nothing till mortgage approved. Argh!! We could still be months away and the longer they faff the more likely the rest of the chain is to crumble. Stress!

There's a difference between perfect and fixing issues that have only come to light on a survey

It's good to see those that are moving forward. We are hoping to move mid August, searches all back, most enquiries back, mortgage approved, but just a couple of sticking points the solicitor wants the right response about from the vendors to satisfy lenders...meanwhile lenders seem pretty chill about it and vendors solicitors can't seem to understand the need for more paperwork. Our sol also wants us to get all sorts of indemnities the vendor won't pay for, so we need to decide which to pursue and which to leave. Estate agent has been very hard to contact and so we have very little idea about vendors onward purchase other than it is empty with probate granted and vague noises towards forward progression with no details or dates whatsoever. Getting anxious now as we get closer to our planned move time and no exchange dates been discussed yet ...but there is still time!

This is where we are. We won't have a mortgage - our seller is in the USA so property empty. We are now ready to go as everything is done. My buyer is ready as well but it's what is happening with my buyers buyer who starts the chain. The solicitors and agents now trying to go up and down the chain to get things moving but it's also incredibly quiet with information coming back and any sign of anything happening to fix a completion date. Our chain only involves 3 houses but we are the end of the chain

I'm getting so fed up. 7.5 weeks since offer accepted and my solicitor still has nothing from the sellers solicitor.

@Nortam I would definitely chase this up that's quite a while. My buyers messages us at 6 weeks in to ask what the hold us was and we found that their solicitor had received the contract pack and was just sitting on it!

@SJ89SJ how frustrating! I contacted my solicitor early last week who asked me to contact the EA. The EA said they would contact the seller and their solicitor. I don't have the sellers contact details. It's frustrating because we've done everything we're supposed to and now we are just waiting. There's no chain so I thought this would be straightforward and relatively quick. One of my DC starts reception next year so we need to be in by primary school application deadline. I know that's a while off yet but I'm starting to worry.

@Nortam and @SJ89SJ our vendors solicitors sat on the contract pack for about 5/6 weeks too, he’s now sat on the queries.

Both solicitors know we are keen to complete on the 11/8 and I believe the vendor has even booked her removal firm.

We are no chain so this, in theory, should be an easy process!

I so often wonder why they take so long to action the easily actioned!

My sellers have sat on enquiries for 2 months. FFS. My buyers are painful too- they have been calling the agents daily.We quickly respond to things as they are sent to us.

I hate people

@Nortam we have a similar deadline for primary school, and are starting to worry. Sold ours end of April, offer accepted two weeks later. Chain is buyers-us-sellers-empty property, so not even a long one.

I'm in similar position. Nearly 7 weeks now cash sale, no mortgage & no chain but sellers dragging their feet. It's a property company selling do why they are dragging is anyone's guess. I completed on my sale yesterday which all went really well. I booked a holiday but after that, we're officially homeless until they get their arses into gear.

We've exchanged! After our solicitors and agents, plus our sellers' solicitors and agents losing their absolute sh*t with our FTB's solicitor, they finally exchanged at 4.30 this afternoon. Hallelujah!! I never went to move again.