It’s ye olde buyers/sellers waiting room continued thread…

[ibelieveinmirrorballs]

The nail-biting wait continues….

I'm worried it's outing incase the buyers are on here! But it's an issue with something communal on the block of flats that may require repair soon (that we are unable to action ourselves as it is to do with the building generally rather than the flat specifically), and a ridiculous cost per flat that the building manager has essentially pulled out of his bum. The work is unlikely to ever be done and certainly won't cost that much if it is, but it's a pretty big figure that would probably spook me if I was the buyer! @Jaq27

Been chasing for some kind of update and all I've been told is there were a lot of enquiries and working through them.

This is a second solicitor who had to be used because of a bridging loan being used and now they have do their own conveyancing. Rest of the chain is sat waiting (meant to complete mid December and the bottom buyer lost their funding when we were meant to exchange).

Surely the enquiries are going to be essentially the same as the sellers solicitor raised in the first place! I'm getting so frustrated now

Yeh I totally get it @sweetpickle23 My sister bought a flat in London and a year later was stung with roofing repairs across the entire (large) 1920s block. Ouch. She had to borrow money to cover it.
All you can do is hope :/

I'm hopeful that we can negotiate a contribution to the amount, or maybe even do a retention whereby the solicitor holds on to that amount and we get it back if the work doesn't transpire. But very worried they'll just see the figure and run, they are very nervy FTBs :(

@sweetpickle23 a retention sounds like a really good solution. Maybe there is some insurance that could be taken out? No idea if that's a thing so quite likely talking out my butt.

No update from me just waiting forever in stressful limbo for our chain to complete 🙃

Finally a bit of good news resulting from the delay! Our offer has dropped from 5.9% to 4.65% 🥳🥳🥳

Oh amazing news @onthefence23 ! Which lender are you with?

I have asked our broker to check whether our rates have gone down (NatWest) but he reckons hold on as they might go down again.

Yorkshire Building Society. We're hoping to exchange in next week or two so happy to take this and run!

We had budget for the higher payment and it was comfortable so going to just make that our DD and start as we mean to go on with a decent overpayment

Yes that’s the only positive of this all taking so long, as that we might get a better mortgage rate! We current have 4.64 but hoping we can get it down a bit more.

chasing all and sundry today and still no further forward. Why does this all take so long?!

Completing on Friday. Thank god! Our buyers have been a dream (compared to previous an CF buyer who pulled out at the last minute) and I'm glad it's over.

Well done @okthenwhat 🍾
Best of luck for Friday!
We also have a lovely buyer in place after a CF dropped out in October (asked about 100 questions a week about the silliest things, came round for hours at at time to view, measured up on a Sunday, insisted we leave all our furniture (including our bed and bedside cabinets and wardrobes) as well as all the lamps, lightshades, fridge freezer, range oven+hob, washing machine, tumble dryer, TV, chairs, stools, curtains, blinds, plants, pot plants, etc etc etc)
I hope we don't lose our lovely buyer - they wanted to exchange before Christmas but everything is taking so long!!!!

Some movement from our side as well. Queries have now been answered and on Friday our solicitor said we could start talking dates
Yesterday it emerged that our seller is waiting on probate grant for the property he is buying which is due any day now. This is the first we heard of this as so far we have been told his purchase is all set.

We have everything ready but we have said we don't want to exchange or transfer deposit until he probate grant is in and we can talk completion dates the seller can commit to.

The seller has been lovely so far and while am completely frustrated by this curve ball, we will just wait and see.

Can't wait for the uncertainty to be over!!

We've had questions back today from our buyers solicitor so will start working through these tonight. Some of it I've already answered on one of the forms which is annoying but whatever. We also need to take all the measurements for our conservatory to prove it didn't need planning permission. At least things are moving. The survey on the house we're buying is happening today too.

Fingers crossed for some movement for everyone this month!

That's so annoying about the probate @AutumnNymph Hopefully it comes through soon and I agree you can't move forward until it does

Whooohoooo First one here for 2024 I think?

I think this is the second one? The first lucky bugger completed on the 4th.

Woohooo congrats @okthenwhat !

TBF we fannied around getting the TR1 and contract signed (mea culpa) so we could have completed earlier.

Why is it always the CF buyers who want the moon on a stick who pull out? I really dislike the English way of doing things. Just encourages people messing around.

Our CF buyer had a million and one irrelevant questions, asked the same question 3 times (same answer each time) etc etc.

I'm also due to complete Friday. Fingers crossed for you @okthenwhat

Congratulations and good luck @donica

Will keep fingers crossed for both of you.

On the positive side I just changed both my mortgage to a lower interest rate product.

Exchanged 🎉

Congrats @Deedippy well jealous 😂

Congrats @Deedippy !

We have had some news as well, probate has been granted and we are now looking to exchange on the 23rd and complete on the 1st of Feb!

Wise people on the thread, any recommendations for building insurance providers?

Congratulations @AutumnNymph and @Deedippy