The all new buyers/sellers waiting room (continued) thread

[sweetpickle2]

New thread!

@startingoveragainagain I don't know how much equity you have in your property, but I was pretty impressed with how much interest mine would make in even the most basic easy access savings account if I had to move out and store my stuff because I couldn't tie the sale and purchase together. And last time I moved I wouldn't even look for a new place until I'd exchanged on my flat because a previous buyer had got all antsy about the lease and I'd lost a house I wanted to buy - I couldn't bear to go through that again. Actually it's a pretty nice way to do it- the buying process becomes a lot more fun without the stress of selling.

@Tupster yes I do, the money would be nice, but me, my dogs and cat would be homeless, it's hard to rent with animals and i'd be paying a lot in storage etc.

You may find that some items are easy to sell and the money from that and the saving in storage costs will allow you to buy new, specifically for your new home.

Positive update from me…I asked for the quote for work costing £6k and survey from our buyer by close of play yesterday. Estate agent finally got back to us at 4pm with the survey only - it was basically the list of highlighted grade 3 things in the survey all added up to £6600, so not just a crack in the render as she had previously said 🤣🤣 so just recommended general repairs like wood treatment on some window frames, damp treatment etc. Even the scaffolding was included! Both us and the EA couldn’t believe it. We offered £1.5k off as a good will gesture and said she had to exchange this Friday as scheduled. She accepted. Unbelievable!

Morning all, just enjoying a coffee before work.
Emailed EA to get more info on the chain and to ask for confirmation it’s complete as not sure it’s officially complete. I want to crack on with purchase but don’t want to sort valuation/survey until I know.
Im desperate to have moved before Sept (teacher), but it’s looking tight.
just hoping that everyone is as motivated as me.
Already I think I’m the annoying person in the chain pushing everyone!

Good morning, hoping I can join the nervous wait! We sold our house on Monday and had an offer accepted on our onward purchase. We are a short chain as our vendor is a couple moving into a new build, which is ready now and the person buying our house has majority cash and a small mortgage - first time buyer. Just got into the solicitors app and been hit with the first of many forms of which I don't know half the answers so that's for the mortgage broker later today! I feel like we are at the bottom of a very large hill!

I'm stuck waiting for my buyer's searches to come back, 12 weeks after accepting their offer! On the practical side, as we were meant to complete on 28th March, I'm sat here surrounded by packing boxes with very little left in my freezer, which is making meal planning difficult! I guess we will benefit from eating fresh for a while.

@Cocteautwin6 what a CF but a ballsy move by your buyers for sure!

@Bigbangtheory searches can take an absolute age. Mine are finally coming back in dribs and drabs and my solicitor is forwarding them on bit by bit to digest. It's rubbish when everyone has a date in mind and it seems like it's going to be missed!

In our heads we are hoping for the end of April which may actually be possible as its just the last searches and a few enquiries but we shall see

@Cocteautwin6 it does seem nowadays some people think you have to fund their DIY wish list. My first buyers put a low initial offer due to it needing a new kitchen and because they wanted an en-suite in the loft room. It was priced to sell, so the tired kitchen was factored into the sale price… the lack of en-suite also factored in the price too!
Glad your good will gesture worked and exchange agreed for Friday…

Some positive news. Got the mortgage offer and survey report back. Survey didn't pick up anything hairy or scary. Just the standard stuff you'd expect from a 1930s terrace. It's a probate sale but the owners seem to have looked after the place the last 40 years they were in it and the neighbours kindly check in on it now. So different to the property we pulled out off - the fraudster who ended up in prison who had lots of bodge jobs, illegal tenants and house falling apart.

Searches have been sent for, so just playing the waiting game now. The seller and us are both chain free but queries are taking time as the vendor has no idea so asking neighbours!

I've been on holiday so haven't been able to report back about my situation, but I pulled out yesterday as I did pay my solicitor to get the management pack and yes there's a section 20 in place so I pulled out. As they told me when I was pulling out, they have a buyer, but the property went back on the market this morning. I have a feeling that the seller is going to struggle to sell the property and they won't negotiate. I'm going to see family in Scotland so I'm taking a break from the house hunt for a bit.

@MotherOfRatios What’s a section 20? So sorry it’s all been stressful.
Im waiting for top of chain to be confirmed before I go full steam ahead. Guess I just wait now.

A section 20 is whereby on the leasehold property. The freeholder or management agency opens up a consultation when they want to do major works at £250. I was quoted from 5000 to 10,000 when I rang the management agency and I put this to the seller and the estate agents said the seller wouldn't lie he's a solicitor well it seems the seller did lie. I really don't understand the point in lying about something like that.

Hi ya sorry to jump in all of a sudden
Sorry to hear that you pull out.
Does it mean there's a major work going to do soon? How did you find out?

There isn't much value in second-hand furniture, everything in my current home was selected by our interior designer and there is no way I could ever afford anything as nice again, it's all only 3ish years old, so I really don't want to sell it.

Morning all
Who do you all have most contact with: your own EA or your vendor’s? I think they must groan every time I send an email! I’ve tried to forge good relationships and to be fair the vendor’s EA has rung when she’s had news but it has sometimes needed a little prompt!
No point to this post really other than it’s helping distract from the next six 😩 or hopefully 4 months!

Me and my vendor used the same EA - although different individuals managed each property - and I definitely had way more contact with the EA selling my house than the one managing my vendor… but that’s because my buyers were a nightmare I think!

It’s so frustrating when you get to the point of hating sending yet another email or phone call but they must be used to it! The stress is like no other… fingers crossed you get to exchange soon!

Prob the solicitor. But that's because she never proactively shares anything with me! I guess the EA is more important in a chain though.

I found out through my solicitor but I also did some digging myself beforehand which I put to the seller they lied.

works likely to commence this year.

Week 5 and our buyer still hasn't done a single thing.

I'm so disheartened and stressed that we are going to lose this sale and thus our forever home which we have an offer accepted on.

We have done everything our end for both sale and purchase, yet out buyer still hasn't instructed her solicitor to do anything. She's a cash buyer as she sold the family home to a developer, so we don't understand the stall.

The EA has been chasing every day, several times a day to stress how important it is to get things moving, but from what I have been told, I believe she is autistic so struggles with stuff like this, so she relies on her brother a lot to do things for her.

I'm just not sure what to do. I have told our EA that they need to order searches and get enquiries sent to our solicitor by the end of day tomorrow. I'm so stressed I have been crying every day! I want this to be over but I feel like we're never going to move forward.

I'm sorry @MrsB94- honestly I would give her a deadline, and say you need to have made some significant movement by x or we're going back on the market. 5 weeks isn't loads of time in the timeline of house buying/selling, but to have not done ANYTHING is pretty suss.

Full steam ahead here for the move tomorrow, currently surrounded by boxes! Just heard from the solicitor that they've received the buyers funds so hopefully completion will be swift tomorrow. Can't believe I'm actually going to see the house that I saw once 5 months ago again!

Agree with @sweetpickle2 id give her a deadline cash buyers do not have the best reputation for stuff like this

Sorry to hear that @MrsB94, it's such a stressful business isn't it? I hope the deadline spurs them into action. @MotherOfRatios is right about cash buyers. Mine is still stalling, and I can't work out whether they have lost interest in the property, or are preparing to reduce their offer at the last minute, or are just not bothered about how long it takes. I might have to consider setting a deadline too, but the prospect of having to go back on the market is daunting.

We suggested early April for completion and heard nothing for nearly two weeks from our buyer's solicitor. Today, they say they need to do their full file review, report to clients and get their signed contracts back.

So frustrating not to have any idea when we can complete as removals near us keep getting booked up, and we need to let our workplaces know so we can book some time off. Haven't really done any packing yet either just in case the whole thing falls apart. Aghhh

@MrsB94 sounds just like my buyer! A cash buyer who doesn't speak English, and relied on her son to do most things for her. We had no activity at all for 7 weeks from them, and her son got really arsey when we asked our EA to keep prodding. But it seemed to work as they finally instructed their solicitor to start, they sorted the searches and had the survey done. We returned enquiries, paid for indemnity insurance for some contaminated land thing (sigh) and are now in week 11 and ready to exchange, but our buyer's solicitor is not. They still need to go through their file and get the contract signed. Really hoping this takes no more than a couple of weeks and we can complete in the first half of April, but who knows. We have a slow buyer and they have a slow solicitor, or at least it feels that way as they took over 1.5 weeks to answer our question about completion, but didn't offer any alternative. They'll probably take another 1.5 weeks to answer that with a blunt 'not yet'.

Hopefully it'll suddenly kick into action for you. Once the solicitor gets cracking, it doesn't take long to move things forward and it's great there's no mortgage offer to wait for. Fingers crossed for you!