Buyers / sellers exchange waiting room continued...

[NoWordForFluffy]

New thread for those of us still waiting the dreadful wait. 😩

@HopefulSeller they are already involved. Same agent for both of us so you think it would be easier!

@Floopani no idea on time scales, I guess this is the same kind of place we're in. But if you want to complete after Christmas you can ask for that

You don't have to move before Christmas, even if you're ready. You could exchange though, and set a date after.

I wish my vendor was as on the ball as some on here clearly are!

Thanks @EmilyMay89 and @NoWordForFluffy I think that might be the best outcome, exchange before Christmas, complete just after. I'm just very wary of annoying the seller, probably too much so! This will be our dream home.

I hope you both get some good news soon!

If that annoys them, then you'll have to see what agreement / compromise you can come up with. Not many people will really want to move before Christmas (even though we do!).

I've just texted / emailed another contact at the HA to try to get them to get a wriggle on. I copied our broker in to update them. I'm honestly losing the will to live. It isn't just that they're not responding (which is bad enough), it's WHY. Why don't they want their money, and somebody in the house paying the bills?!?!? Whhhhhyyyyyyy? 😩😩😩

We are trying to push for exchange by the end of November. Offer was accepted 2nd week of September. Thankfully the seller also wants to get it done and dusted asap too as her sick father is moving in with her. My situation is hard as I'm still living in the family home - my ex is buying me out. It's hard all of us living under the same roof still, we all need to move on. I think my solicitor is nearly there with all his enquiries. I got the documentation pack through yesterday. I'm hassling them everyday.. I really need this to happen soon.

I just can't bear having Christmas in the old family home this year... I need to move on. Keeping everything crossed.....

Price has been agreed with the buyer 🥳🥳🥳 I’m not counting my chickens yet and can’t rest until the keys are in our hands but hopefully everything can be drawn up now and we’ll have the keys by Christmas 🤞🏻🤞🏻

Enquiries finally answered! Title report being sent to us and we've been asked to start talking completion dates! What a great update after all my moaning today

Ah that's great news! Nearly there!

Apols for not replying to more people

@HopefulSeller I don't think landlording sounds easy at all. I know a couple of people who are very happy with that choice but I think taking responsibility for the accommodation of another person is a big deal. Then on a less humanistic front, there's the law - what if you need to sell and they refuse to vacate etc

I have said I will take 24 hours to consider, and politely suggested that they need to give me a reason to come back to the table.

The EA was full of "if we hurry, we can do this by x date".

I said i've been trying to hurry this up for two months and now the buyer has to consider the fact I'd like to return to my home. Feelings change over long periods of time and the law is on my side here.

Something occurred to me - there is a high service charge on the flat I'm selling. He may have wanted to delay to December so I'd have to make the payment and then he'd find a reason not to repay the time allocated section.

Yay, @EmilyMay89!

So, we have pulled out. Seller’s solicitor sent a message to ours saying essentially we work to their timeline or not at all (exchange this week, complete in three months). Reason being, she doesn’t want to think about clearing the house until the new year. Bear in mind we had an agreed exchange date of 14/11, and she announced this at 4pm on 13/11. She doesn’t even live in the house any more, just doesn’t want to clear it.

Estate agent cannot get her to see sense. So we are out.

Ironically our mortgage advisor rang me this afternoon offering us a much lower rate - 4.87% Vs 5.27%! But still not worth it to deal with this timewaster.

Oh gosh I'm so sorry @Saschka - what a nightmare. What on earth is your seller playing at!

Sounds like a lucky escape overall though, who knows what else she'd try and pull with a three month gap.

@sweetpickle23 exactly, that is why we would never have agreed to it. We’d bear all the risk, she’d bear basically none because our deposit would be on the line.

Hello can I join? We accepted an offer on our property back in May, and only just had an offer accepted on our onward purchase last week. Our buyer who has been waiting very patiently has now asked to reduce their offer, I think we can meet them half way, and then ask our onward sale to absorb half of that, so at least we are all taking a bit of a hit to get the chain moving. Everyone wants the deal done as quickly as possible. Can I ask, on average how long is it taking you all to get from offer accepted- to exchange - to completion?

Aaaaaagh! All set to exchange today - had the phone call to check we were ready at lt 9.30 👍 didn’t hear anything til 3.30 - then solicitors rang to say top of the chain can’t do it 😡 Just heard from estate agents that the solicitor at the top doesn’t work on Wednesdays and didn’t leave the file!! Ffs!! Been fretting all day!!

More shouting into the void from me today - still can't really get a handle on exactly what's happening here. Our solicitor is allegedly ready to report to us (and has been since Friday morning) but no report has been forthcoming yet. We don't know whether our buyer has received their revised mortgage offer - was a small reduction in price to take account of the agreement on the price chip we accepted so I wouldn't have thought it should take that long? And as for top of the chain, I've no idea where they are with anything.

I hate this process.

It's all so bloody frustrating!

But, I finally heard from my HA contact, and their sols are going back to our sols tomorrow (I hope they're agreeing the sodding plan!). Which means we should hopefully be able to exchange next week. 🤞🤞🤞

Our solicitor sends their bank details by post to prevent fraud, so we need to wait for that letter before sending any money across.

@Saschkayou've done the right thing but I'm so sorry. I wonder if you too will get a call tomorrow asking you to come back under different conditions?

I hate this process too.

The mortgage stuff, and drawing down of funds, mystifies me. It seems to affect exchange dates really badly, I don't know enough to know the mechanics of it.

@NoWordForFluffy sending bank details by post would delay things by about a month round here.

Luckily our post is relatively reliable!

Surely there must be a bloody way to sort the property selling / buying system in this country? It's just not fit for purpose.

@EmmaEmerald I doubt it, we don’t think she was ever really committed to sell. Put it on the market to test the waters, got an offer, and things have run away with her.

Nobody who actually wanted to sell their house would behave as she is doing. Losing your buyer on exchange day because you don’t want to move your old stuff out of the house? Batshit behaviour if you are actually motivated to sell.

Great news! Finally!

Absolute nightmare. Really feel for you - had anything been said before that point as to expected gap between exchange and completion dates? It’s clearly ludicrous to wait that long. I hate it as well when the solicitors language is so uncompromising.

She's had to pay to instruct a solicitor but I don't know what else she's had to pay for wrt a house.

I've only ever lived in flats so there's always a management pack - total rip off as the info should just be available maybe with a small admin fee...(in my case, there are two different mgmt companies so I had to pay a lot, on top of the high rise legislation extras).

But is it possible she's not paid out much? Still crazy....still makes me wonder if you might get a call proposing a two week gap or something. Is it like a hoarder house?

Great to hear everyone’s updates whose sales are progressing. @Saschka so sorry to hear how you have been messed around, it’s really wrong how the process works and can leave you substantially out of pocket through no fault of your own.

Since losing our buyers, we’ve gone back on the market. One bit of hope is that a family who offered on our house back in August still want our house but their chain had also collapsed. They’ve dropped their house price as we’ve said we would take a lower offer than before if they were proceedable and they now have five viewings this week. The vendors of the property we want are also willing to give us until the New Year to find a new buyer so a glimmer of hope we could still make it happen. I’m not holding my breath though!