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

[MovingToPlan]

The previous thread is almost full! We've had lots of completions, exchanges, offers accepted, maddening conveyancing teams, strange requests, and worries to last a lifetime. Welcome welcome.

Catch up here: The all new buyers/sellers waiting room (continued) thread

My update is that everything seems to be lining up and we're looking at exchange next week. 🤞 Hoping to complete a few weeks after that.

Good luck to you, whatever stage you're at in the process.

When I was a FTB our tenancy lasted a month after our completion date, so we moved our things at a leisurely pace, saving on moving costs - just a van to shift bulky items and shuttled back and forth with other bits in the car. It was easier to clean the new house and do the end of tenancy checks etc as well. So it may not be such a bad thing in the end for you. Could you negotiate a monthly rolling contract?

They can't force a tenant to re-sign onto a new contract, and it would automatically go onto a rolling contract. They can serve a S21 if you don't re-sign, but that's two months' notice anyway (plus it's notice of intent to start court proceedings, not an eviction notice).

So, the tenancy doesn't end, just the fixed term.

We gave ourselves a full month's overlap too, especially as it coincided with Christmas, so we were too busy to do the cleaning etc until after anyway.

@AGirlsNameIsAryaStark , as I understand it, you don't have to move out at the end of your tenancy. If it's just a matter of a few weeks, you should be able to agree this with the landlord, but in any case you remain the legal occupier until you hand the keys over and the tenancy does not end automatically when the notice expires.

@NoWordForFluffy - you beat me to it!

I sent the email on to our solicitor and she's just said she doesn't think they'll get the order until September, so i think i'll ask to stay until end of September (6 weeks from the end of our fixed term). I really wanted a couple of weeks overlap to be able to get some decorating/cleaning done without the pressure. Our landlord is a family friend so hopefully he won't have a problem with it.

I'm just furious with the estate agents, they knew this timeline from the start so why not be open about it, especially as they asked when our tenancy was up!

I'm at the point where I think there is very little difference between incompetence and dishonesty.

Oh dear…anyone got any good news today?
It really is the longest drawn out process and nobody gives you a timeline or will commit to pushing it for you. It can feel a really lonely place too (particularly if you’re separated like me), and like nobody is on your side. I’m desperate to move end of July/mid August latest and EA says everyone knows that but I’m not seeing anyone really pushing other than me.
Hopefully we all get some progress next week!

Well, after a long conversation with the vendors' EA this morning we've decided to hang in there for a possible exchange on Monday or Tuesday next week. Sigh!

I posted on the last thread back in February when we had our offer accepted but have just been reading since. We've been very lucky in that everything has gone as smoothly as it could with the purchase, the vendor is lovely and we had no chain on either side. We exchanged last week and have just completed and are picking up the keys to our new house at 2 o'clock! First van load is packed and ready to go so it's going to be a long day but so excited to actually get in there. Feeling massive relief that it's all done and nothing terrible cropped up at the last minute. Good luck to everyone else exchanging or completing this week!

@runningmom kind of news, but at the same time non-news! Seller's solicitor has finally responded to all the queries and now I'm waiting for my solicitor to go through them. Spoke to my solicitor yesterday and hopefully will get a response by the end of next week. Would really like to move in by the end of June. FTB here and it's difficult to know when I can start buying the long-lead items like a sofa. There's no chain and it's still such a long process...

About to join this process if ok to join this thread? How long generally is it taking people from the time of the house being marketed to the time of an offer?

We exchanged yesterday! Wahoo! Hopefully complete on 18th June 🥳🥂

I have a bit of good news to end the week of frustration - not just mine! We are back under offer! We put the house back on the market on Thursday after our previous buyers were the 2nd set to pull out. This morning we accepted an offer! Could this be 3rd time lucky? We’re trying not to get too excited as we know people can pull out at any point. I have a big birthday in August, am I being too ambitious to hope we’ve moved by then? This time last week everybody in the chain was ready to exchange, really hope our new buyers can proceed quickly, it’s all down to the conveyancers really.

It's set in stone when you've exchanged (unless it goes properly tits up!).

Hopefully they can buy the previous searches. That should speed things up!

Good luck!

@amijustbeingsuspicious house went on the market in mid January. Accepted an offer 14th February- third person to view. It was just over 3 weeks. We've just completed on Tuesday. 13 weeks from offering to move out but we're living with my parents so not in our new house yet.

congratulations!

how many viewings did you have before someone made an offer?

We were meant to exchange AND complete today. However it didn't happen as the FTB despite transferring their full deposit first thing didn't give authorisation to exchange until 14:00. To top it off our seller who is in a home has had a fall and is in hospital and we've been told by the EA to be prepared. Why do I feel this is going to fall through...

@amijustbeingsuspicious the third person to view offered.

We still can't believe it really. He just wanted the house. Right person, right time.

House went on sale begin of Feb, had first viewing a few weeks later and sold to the first people who viewed it at asking price too.

Does anyone know how quick the solicitors can sort exchange & completion.

There's been a lot of email exchanges with moving dates but not one we've all agreed on yet.

The chain above suggest 7 June which we'd be happy with but the solicitor has said that is obviously too soon. Just wondering if they are referring to it as too soon for us or them.

Annoying they emailed just before 5pm on a Friday!

Otherwise the other date put forward is in July which seems ages away.

We are far from packed and ready, so it would be a big rush for the 7th June. But we do want to be in sooner rather than later.

Ahh, so pleased I found this thread! Can I join in?

We sold our house in April (off market to first time buyers). We’ve also found our next property and currently waiting on the searches to come back.

Today our estate agents called to say that our house had been down valued £12.5k by the surveyors who came out 😞 Our buyers are trying a different lender and surveyor who are coming out on Tuesday to conduct their valuation. To be honest, we’re not holding out much hope; expecting the valuation will be more or less the same! It’s up in the air as to what we do if the surveyor comes back with another down value. Not sure if we will drop the value, pull out of our sale and purchase or go on the live market and hope for a buyer with a better LTV.

Nothing is smooth sailing in this game is it!

Tbh even if your next buyer had a lower LTV the down valuation would probably still be a problem unless they were cash buyers.

If the second valuation is also around 12k less I would consider trying to negotiate half way with your buyers, if they can raise some extra cash somehow. And then negotiate hard also on the property you are buying.

But I hope your second valuation is higher 🤞

This happened to us but for our purchase. It was down valued £15k. The house did need a few works doing so used that and the down valuation to negotiate on pice. We agreed to meet in the middle so got it for £7.5k less.

From what I've read that seems to be the done thing and worked for us.

It’s so frustrating.

I don’t think dropping ours is realistic based on what we’ve committed to buy at this point. The new house needs a bit of work and dropping would mean us eating into the extra we have to complete that work so it would be pointless proceeding with our onward purchase.

Fingers crossed for Tuesday but after reading the reviews of the company last night, not sure we have a chance 😂