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.

A 97 year lease is long enough that it won’t affect the price.

If you’re anxious talk to your solicitor about it though.

We're buying a leasehold. I've always been very wary of them but not really known much about leaseholds other than to not buy anything with a short lease.

We're buying a house with a 200 year lease and £160 a year ground rent. I'm 55, so could potentially live for another 30-40 years which still leaves a decent chunk of time left on the lease for when my two sons sell it.

I do think you need to think about how long you're going to live there.

My solicitor fees are also higher because it's a leasehold.

Not all leaseholds are the same, so you just need to do your due diligence as to what you're getting. However, the new leasehold legislation makes it easier (and cheaper, IIRC) to extend the lease (and for longer).

Leasehold old houses are common up here. They're long leases and peppercorn rent. Nobody bats an eyelid. Very different from modern fleecehold, but many on this board aren't able to differentiate in their heads, I find!

Yes my house is a leasehold, as are most in our area, but it’s a very long lease with an absent landlord so it just makes the conveyance more expensive. I’m not sure about leasehold flats.

Just found out our cash buyer who wanted to exchange within 6-8wks when they put in their offer 5 weeks ago hasn't even ordered their searches yet 🤦‍♀️

Their solicitor had been asking questions so no-one realised until now.

Our purchase is up to the enquiries stage.

I feel an ultimatum coming on but was desperately hoping this one would go through smoothly having had a chain fall through this time last year and a taken a break from the house move rollercoaster to recover.

Are they ordering searches as a cash buyer? Theres no requirement to do so if they are cash buyers.

I get your pain. Always the ones pushing are the idiots who hold it up

Yes they do want searches. They said their solicitor told them to wait. Something their solicitor denied. They aren't having a survey, so no idea what they are thinking. Will ask them to be ordered by the end of the week.

My wife says I should be more patient but something feels off.

My husband is the same and just lets things ride when i am much more suspicious of people intentions, especially when people delay and lie. Im an avid reddit user and the amount of people on there after opinions to reduce the price is insane.

My favourite post of yesterday on there was a survey literally talked about the description of the guttering and to expect to have to maintain gutters and downpipes and they were asking if it was ok to knock off £2k. It didn't even need any work, just that it was upvc in good condition.

I got the text that our conveyancer requested funds for 14 June. I'm now just anxious about every little step towards completion day, there's no reason why the funds won't be drawn down though, right?!! argh.

Nothing to add apart from another day no news or progress. Emailed solicitor for update on everyone in chain and if anybody would say no to July: radio silence.

I'm 6 weeks into my onward purchase - 3rd week living with my elderly parents.

I too asked for an update and just got a regurgitated one from 3 weeks ago, searches due back on the 18th June, enquiries will begin in due course.

Still hopeful for a mid July completion. If it doesn't happen then it will be August as we go on holiday for 2 weeks.

Hate not being in control.

I also dislike not being in my own home, with my own things and not having to negotiate what we're eating and where we're going. So grateful for them allowing for us to stay with them but I'm 55 and left home 30 years ago.

I cannot wait to move!

This morning we were told our buyers were on holiday abroad and they couldn't get hold of them to try and put pressure on their deposit being released from their ISA sooner than 10 days.

The buyers deposit came through anyway this afternoon and we exchanged 🥳

Huzzah, @Owlgirl14 ! Congratulations!

Congrats @Owlgirl14

Congratulations @Owlgirl14 !

🥳🥳 @Owlgirl14

Well our buyers have pulled out today. It wasn't even buyer who phoned estate agents. It was her mother. Everything was ready at the exchange stage. Just waiting for our house purchase to catch up. We're absolutely devastated. Waiting to hear whether our vendor will wait for us to sell again.
Why oh why isn't there a law that makes taking a deposit a requirement when purchasing? They've paid for searches, a survey, solicitors.

Oh @lingmerth how absolutely gutting for you. What cowards!

I hope your vendors are patient, even if they relisted their property there's no guarantee they would complete any faster than if they stick with you and wait for you to get another buyer.

@fromtheshires that made me really mad how your buyers left your property on that last viewing!

Sorry to hear that. It's a real kick in the gut isn't it. A waste of money for everyone but the solicitors and councils who get richer with every failed purchase.

Hopefully if you are able to go through it all again you will get a decent buyer and your seller will wait a couple of weeks for you. Did they give a reason? I doubt it but it could be something really devastating

@fromtheshires the mother said the daughter was ill, our house needed £20k spending on it and she no longer wanted to continue.
We accepted an offer £15k below our asking price at the time from them. No apparent issues from the survey and now this.

Yeah sounds like bollocks to me. Why not be honest. They would have known about this '20k of work weeks/months ago'

@lingmerth I'm really sorry to hear that. I don't know how people that do this sort of thing sleep at night. Bastards.

Thanks for the solidarity everyone.
Going to be a sleepless night for me going over and over it. Does anyone have a smooth move?

Not sure if I’ve been on this thread before. @lingmerth, you have my sympathy, my buyer pulled out two days ago, two months in. I think I’m going to stay put. I don’t think I can justify the cost of moving in this ridiculous system and feel like waiting until I really need to move. £2k down the drain! 🤯