The all new buyers/sellers waiting room (continued x3) thread!

[fromtheshires]

As @movingtoplan has finally flown the nest, I have taken the torch and started a new thread as there are less than 80 replies remaining on the current thread before its 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: Previous Thread

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

My update is our onward purchase was completed months ago but due to buyers pulling out we had to start again with a buyer and they are just in the final stages of conveyancing and we are talking dates! I really hope I am not on the next thread.

Ah brill thanks @fromtheshires saved me a job lol.

Just had our buyer round today with her builder speccing the loft and getting a quote to convert it. I really like my buyer and she's put my mind at ease for her commitment, mentioned she's not looking to renegotiate and she's happy with the bottom of the chain too at least. Still collecting quotes for the work needed on our onward purchase, got the "property information form" through from them today (we did ours for our seller weeks ago) and they mentioned a roof leak as an insurance claim, which solidifies the level 3 building survey that the roof is shot. They also haven't filled it all out so will have to chase that up.

Still hopeful for a late July completion but maybe I'm too optimistic....

I think we’re going to pull out. Our vendors have dicked is around so much and we’ve just found out the property doesn’t even have its own water supply. It’s just siphoned off one of the neighbouring properties. They lied on the solicitors forms but my solicitor smelled a rat and demanded bills. I’m so annoyed as you don’t expect to be lied to when you’re spending half a mill! I think we’ll just end up staying here so I’m feeling Uber bummed out now and called my boyfriend an imbecile earlier when he got me the wrong mint from the garden, so now he’s really pissed off with me too. He’s very sensitive and I was irrationally angry to be fair! Think I need to walk the dogs and book myself a holiday.

Oh no! Sorry to hear that. It doesn't have its own water supply?? I've never heard of that before.

@sugarbyebye how did they think this wouldn't be found out? Some people eh 🤷‍♀️

Yeah they owned next door so i think they just did everything the easy way with no thought of selling. But you'd think they'd sort this crap out before putting it up for sale. They've got loads of money. I think they're just lazy. I presume if we pull out they will actually sort all the issues out before relisting, but maybe they will just try their luck with a cash buyer. I think they were just going to let us buy the place, move in, and then realise we are just stealing water from next door. Do next door even know? They bought the place from our vendors a couple of years ago.

God that's mental. I'm sorry.

Thanks, yeah, some people are very strange. I'm wondering what other gremlins they are hiding now.

You dodged a bullet there, @sugarbyebye. Well done to your conveyancer!

@sugarbyebye just bill them with the cost of establishing a separate supply. It might be a fairly easy fix and means you can still move.

I would, but there are so many other issues as well, issues with building control, warranties, none of the paperwork matching up (it's a recent conversion), so now I'm just thinking this is all too much. I think we would need about 50k off to make it worth our while to persevere now and considering they wont even pay for the woodburner to be swept, I can't see them accepting a renegotiation. It'll go back on the market and they'll end up selling it by auction for much less, is my prediction.

Oh lordy, they sound they need avoiding!

We just had confirmation that funds have been released and we can complete tomorrow!!

Is there anything the survey might find that you haven't noticed that would make you pull out? For me, subsidence or knotweed might be a deal breaker, but it wouldn't be a surprise that a house of that age might need some remedial work to electrics, roof, plumbing, boiler, windows etc and I would have taken that into consideration in my offer.

Hi @Lokshen it's really well presented and has been kept in good repair from what I can see. I guess it's more the attic space as it's a low void so can't really see.

I've applied for a mortgage today.

Is anyone else going for life insurance/ critical illness / income protection cover? I'll getting divorced and have to keep working for 7-10 more years otherwise I'm screwed for retirement. My adult daughters can if necessary go and live with my stbx but

Sent too soon

If I get ill I really don't know how I'd cope but I'm not happy about spending £70 a month on a policy.

Urgh I can't believe I'm still here on the third thread!!! 😭 😬

Thanks for starting a new one! Glad it's starting with less of us still here!!!

So still here since October but actually received enquiries and draft contracts today! So all finally seems like it's going through! Still waiting on probate for our purchase but should be soon hopefully.

They have asked for building regs and planning for our garden room which we don't have as it's not a habitable space so we didn't think we needed them. 😬 Anyone have experience?

Also has anyone done an electrical survey for their buyers? Pros and cons? Solicitor said it shows willing.

@BlessThisMess we pay around that per month for my husband. It feels a lot but don't know how we would cope.

Thanks for starting a new thread! Still no 'repair' to our chain - buyers need to find a buyer.

What do people think is a fair amount of time to give them before we consider going on the market ourselves? Our onward is back on the market and not waiting for us, if that factors in at all.

@BlessThisMess im in a quandary too. The critical illness for me is £80 ish and I’ll likely have to work another 15-20 years 😬as I had to get the longest mortgage possible as also divorcing. I don’t need life insurance as I have death in service (public sector) so I’m going for something in between at about £30 a month which I think just covers salary for a year or two. I don’t even want that tbh.
annoying as the current policy is joint and only £80 for critical illness etc and I can’t amend it.

Just posted signed contract for my purchase through solicitor’s door for the morning.

Still waiting on some enquiries and for some one out there to actually establish if the top of the chain is ready! 😩😩🤦🤦🤦

Was hoping we could exchange and complete before 19th July but feels ambitious when responses to emails take 3 days.

My parents lived in a property with shared supply for 40 years, it really isn't a big deal. All properties just need to get water meters and pay their share. There are strict rules that the bill payer can't charge more than the water company charges them.

It's called a regulation 8 supply. The property information forms don't really ask this outright so they may not have lied as it does come from a mains supply with a meter most likely before it splits into the various properties.

As far as I know you just need insurance for the pipeline in case it bursts. Some water companies will help to convert it to a private supply but not all, so worth asking the water company before you pull out.

@Unexpectedbaby amazing news! Best of luck tomorrow!

Thank you. Now madly making lists of what we need to do. Hoping to have everything done by end of next weekend to move in then.

We are living with my parents so have time but I also want to be in as soon as possible

@BlessThisMess wish I'd taken out critical insurance. I was a single parent for a long time so couldn't justify the cost. Diagnosed with breast cancer in 2021 which was a total shock. My mortgage would have been paid off if I'd taken it out and we probably wouldn't have moved house.

If you can afford critical illness insurance take it out.

Yeah we'll be taking out various insurances if we ever move. I don't have any on my house as I don't have much mortgage left, but I did have them all when I first took it out, and then just whittled them off as I overpaid it. Our mortgage would be in the 200k region if we did move so I wouldn't be comfortable doing that without insurance especially as I get paid less these days and our savings would be wiped out.