Page 33 | The all new buyers/sellers waiting room (continued x3) thread!

NoWordForFluffy · 31/07/2024 18:08

What's 'everything' in that scenario, @BirthdayRainbow? The EA sells the house and that's it, to an extent (other than some chasing up and down the chain). What were you expecting them to do?

FWIW, getting to exchange was like having a second job for me. It was a nightmare! And we were only buying an empty new build, not selling too.

CatLady1994 · 31/07/2024 18:14

Some progress for me - Sellers have agreed to accept our offer verbally and take the house off the market so no more viewings/interested parties - so that's a weight off. Still waiting them to sort their next house (the EA they are dealing with for their next house is pants and has not accepted/declined their offer yet) - once that's all sorted they will formally accept our offer and we can get cracking with the solicitors. Really hoping it all gets sorted this week so we can crack on and my buyer doesn't start getting impatient!!

BirthdayRainbow · 31/07/2024 18:18

NoWordForFluffy · 31/07/2024 18:08

What's 'everything' in that scenario, @BirthdayRainbow? The EA sells the house and that's it, to an extent (other than some chasing up and down the chain). What were you expecting them to do?

FWIW, getting to exchange was like having a second job for me. It was a nightmare! And we were only buying an empty new build, not selling too.

Snippy. I was expecting him to do everything as that's what he told me he does when I was looking to sign up with him. It's his own business. He doesn't work for a chain. I'm paying him, I'm paying solicitors. Why am I expected to do anything other provide information?

NoWordForFluffy · 31/07/2024 18:19

I wasn't snippy, I'm asking a genuine question. What do you expect the EA to do that he isn't?

You have a hell of a lot of input in buying and selling houses. Questions, forms, leg work. You aren't able to be passive and expect somebody else to do everything; it's just not how it works.

BirthdayRainbow · 31/07/2024 18:29

I know I'd have forms to fill in and information to give. I didn't expect to have them both messaging me to chase solicitors when I've already done all I can do and the EA knows ex h is away and therefore can't do anything atm.

Again, EA said he does it all. I took him at his word. Cleverly I shouldn't have done.

Champere · 31/07/2024 20:00

Seller has finally accepted our offer so that’s chain complete. We didn’t expect him to after all the faff so it’s a bit of an anticlimax.
I’m knackered just from that.

Cheeseandcrackers40 · 31/07/2024 21:08

Survey finally came through, a few things - damp (1930s house), back of the back garden prone to flooding, some other bits and bobs but nothing too surprising or scary. Our surveyor has valued it at £400k, the mortgage lender's surveyor has valued at £410k, our current offer is £440k. Obviously we will want to try and renegotiate (although in reality we are very committed to the house). I feel all weird and nervous about it though 😬. Has anyone else renegotiated their purchase price after valuation?

Propertyshmoperty · 31/07/2024 22:15

Cheeseandcrackers40 · 31/07/2024 21:08

Survey finally came through, a few things - damp (1930s house), back of the back garden prone to flooding, some other bits and bobs but nothing too surprising or scary. Our surveyor has valued it at £400k, the mortgage lender's surveyor has valued at £410k, our current offer is £440k. Obviously we will want to try and renegotiate (although in reality we are very committed to the house). I feel all weird and nervous about it though 😬. Has anyone else renegotiated their purchase price after valuation?

Edited

Yes I negotiated down £9k to the actual valuation but it also needed a hell of a lot of work we didn't know like the roof will need to be replaced ASAP (+£20k of other work lol). 10% over valuation is a lot though, what was it marketed at and did it have alot of interest?

I don't reckon they'll drop £30k though thats a big hit but I reckon you've probably got a shot at some reduction unless you were in a bidding war to get it. I'd mention the damp and flooding. Get quotes for sorting the damp to help your argument if you can. Xx

Cheeseandcrackers40 · 31/07/2024 22:43

Propertyshmoperty · 31/07/2024 22:15

Yes I negotiated down £9k to the actual valuation but it also needed a hell of a lot of work we didn't know like the roof will need to be replaced ASAP (+£20k of other work lol). 10% over valuation is a lot though, what was it marketed at and did it have alot of interest?

I don't reckon they'll drop £30k though thats a big hit but I reckon you've probably got a shot at some reduction unless you were in a bidding war to get it. I'd mention the damp and flooding. Get quotes for sorting the damp to help your argument if you can. Xx

Show quote history

Thanks!

It was marketed at £450k, some interest from other parties who were not proceedable and we got an offer on our house first so we're able to make a firm offer.

Unsure how open to negotiate the seller will be as he is moving in to rented so no risk of him losing an oncoming purchase. Equally though if 2 valuations have downvalued it then I would expect that any subsequent ones from potential buyers would as well?

Thinking we will see if he is open to negotiation starting at £415k as this is still more than highest valuation... thoughts?

We are going on holiday soon so ideally want to agree on a price without having to wait for a damp survey etc. But if he refuses to negotiate initially then might organise one 😬.

Propertyshmoperty · 31/07/2024 23:15

Cheeseandcrackers40 · 31/07/2024 22:43

Thanks!

It was marketed at £450k, some interest from other parties who were not proceedable and we got an offer on our house first so we're able to make a firm offer.

Unsure how open to negotiate the seller will be as he is moving in to rented so no risk of him losing an oncoming purchase. Equally though if 2 valuations have downvalued it then I would expect that any subsequent ones from potential buyers would as well?

Thinking we will see if he is open to negotiation starting at £415k as this is still more than highest valuation... thoughts?

We are going on holiday soon so ideally want to agree on a price without having to wait for a damp survey etc. But if he refuses to negotiate initially then might organise one 😬.

Show quote history

Was £440k your first offer or did they talk you up? It should give you an indication of how willing they would be for a lower offer. Our seller would not come down from asking price at all during initial negotiations so I knew I couldn't ask for loads off after survey, plus there was bags of interest including an asking price offer (who was thankfully not proceedable)

I can't really comment whether £415k will be taken seriously or get your buyers back up. I'd definitely get quotes for the damp though before you try to knock £25k off as they'll probably just say no. I know it's a hassle but I took a couple of weeks to get quotes adding up to £30k before asking for £9k off.

As a seller my house is a similar price to your seller's and I accepted 10k under asking after 2 weeks on the market (so I was proceedable for the house I wanted to offer on) if my buyer tried to get £25k off though I would have just said no as I wouldn't be able to afford my onward, I would have struggled with an extra £5k off.

It's a tricky one, I really can't help with what the best thing to do is. Xx

Cheeseandcrackers40 · 01/08/2024 09:43

Propertyshmoperty · 31/07/2024 23:15

Was £440k your first offer or did they talk you up? It should give you an indication of how willing they would be for a lower offer. Our seller would not come down from asking price at all during initial negotiations so I knew I couldn't ask for loads off after survey, plus there was bags of interest including an asking price offer (who was thankfully not proceedable)

I can't really comment whether £415k will be taken seriously or get your buyers back up. I'd definitely get quotes for the damp though before you try to knock £25k off as they'll probably just say no. I know it's a hassle but I took a couple of weeks to get quotes adding up to £30k before asking for £9k off.

As a seller my house is a similar price to your seller's and I accepted 10k under asking after 2 weeks on the market (so I was proceedable for the house I wanted to offer on) if my buyer tried to get £25k off though I would have just said no as I wouldn't be able to afford my onward, I would have struggled with an extra £5k off.

It's a tricky one, I really can't help with what the best thing to do is. Xx

Edited

Show quote history

Thanks so much, really helpful. We have slept on it and this morning sent a letter to the vendor via the EA stating the valuations and the concerns raised in the survey and asked for his cooperation in us organising quotes for work. Will see what we get back...

BG2015 · 01/08/2024 10:27

@runningmom are you still looking to completion on the 9th? I'm only hanging round on here for you.

Original poster

fromtheshires · 01/08/2024 10:29

@Cheeseandcrackers40 you have a couple of options. Show the sellers the mortgage offer valuing it less and make this your new offer or try and find another £30k/split the difference with the seller.

I would be doing the first option as if you have had this issue then if you pull out, the next person would also have the same issue when they get their mortgage valuation. It's probably worth impressing this on the EA.

I saw in another post about the roof needing replacing. Is it just because it's 'old' or is it actually hanging off? My parents purchased a house 25 years ago that 'needed' a new roof according to the survey. It's still going strong.

OP posts:

Original poster

fromtheshires · 01/08/2024 10:33

BG2015 · 01/08/2024 10:27

@runningmom are you still looking to completion on the 9th? I'm only hanging round on here for you.

😳😳😳 and here I was thinking you were only on here waiting for me before we rode off into the sunset together 😂.

Seriously though @runningmom if you complete on the 9th we complete within a day of each other (I'm the 8th) and we can all ride off into the sunset with @BG2015. I'll even let you pick what songs we play on the radio.

OP posts:

runningmom · 01/08/2024 10:37

@BG2015 hi! Yes the 9th is the date agreed by the whole chain but we’ve not exchanged yet 😬 My solicitor says she’s waiting on the one above but EA says she’s going to email all the chain today to find out who we are waiting on. I really need to book my removals but I don’t want to until it’s confirmed as some firms charge up to 50% extra if you change the date within a week 😲
I’ve been so unwell (luckily off work), and only today feeling a bit better so thank his we aren’t moving tmw!

Blahblahblah81 · 01/08/2024 10:43

Hi everyone. Joining today. Saw the most incredible house last Friday and offered asking price on it which was accepted despite ours not fully being on the market at that time. We decided to change EA to the same on as our seller and have just had a valuation today. He's confident he can sell it quickly and we're not wheels in motions of getting photos booked in and arranging an open house. I'm not the best on these circumstances as control is very important to me so trying not think about dream house too much as I really can't control the situation. Hoping our journey has a positive end!

Original poster

fromtheshires · 01/08/2024 10:46

Welcome @Blahblahblah81

You're going to hate the next few months if you're a control freak (don't worry I am too) as so much time is spent waiting on others, red tape delays and so on.

Fingers crossed it all goes smoothly for yoy!

OP posts:

BG2015 · 01/08/2024 11:07

@fromtheshires I feel like yours is a done deal whereas @runningmom was in a more precarious situation.

2 more days in Turkey and then Sunday is the big move.

I've set up my council tax, energy and broadband whilst I've been lying in the sun!

We're all nearly there!

Good luck to all you people battling solicitors. EA and sellers/buyers!

Original poster

fromtheshires · 01/08/2024 11:52

Way more exciting than me doing all mine on the sofa the last few evenings.

Most people want to stay on holiday and you're super excited about coming back so you can settle in your new house! Has your son sent you a video tour yet?

OP posts:

BG2015 · 01/08/2024 12:04

Yes had a FaceTime session plus he's looked up on the loft and videoed it, bought a chest of drawers from Ikea and put it together!

Don't know if I'll sleep Saturday night I'm so excited 😆

Marshmallowbrain · 01/08/2024 12:16

We're still trying to exchange, hopefully today for an 8th completion...

Think I've got arthritis in my thumb from refreshing my emails so much.

RinklyRomaine · 01/08/2024 12:58

Can I join to ask some advice?

We accepted an offer (priced well to sell fast) from buy to letters end of May. Had our offer accepted following week on an empty property. Our searches were back 2 weeks ago, enquiries done, mortgage and everything else in place ready to exchange.

But our buyers dragged their heels for a month ref the solicitor, pretended they'd ordered the searches and didn't pay for them until 19th July. Their solicitor has come back yesterday to our EA saying they don't expect their searches back til the end of august and not to call them until then. EA saying local searches taking up to 3 weeks atm so obvs another lie.

3 kids starting new schools in Sept an hours drive away. EA saying he doesn't want to push the buyer too hard. DH says put it back on the market but I don't want to lose onward purchase. WWYD???

Cheeseandcrackers40 · 01/08/2024 13:43

fromtheshires · 01/08/2024 10:29

@Cheeseandcrackers40 you have a couple of options. Show the sellers the mortgage offer valuing it less and make this your new offer or try and find another £30k/split the difference with the seller.

I would be doing the first option as if you have had this issue then if you pull out, the next person would also have the same issue when they get their mortgage valuation. It's probably worth impressing this on the EA.

I saw in another post about the roof needing replacing. Is it just because it's 'old' or is it actually hanging off? My parents purchased a house 25 years ago that 'needed' a new roof according to the survey. It's still going strong.

Hey! Thanks for the advice 😊 we haven't been advised that the roof needs a full replace just a few areas that need attention. The more pressing issues are the floorboards above the cellar which need to be replaced (too narrow and support the ground floor of the house...) and some damp issues.

Will see what the seller says....

BirthdayRainbow · 01/08/2024 13:51

RinklyRomaine · 01/08/2024 12:58

Can I join to ask some advice?

We accepted an offer (priced well to sell fast) from buy to letters end of May. Had our offer accepted following week on an empty property. Our searches were back 2 weeks ago, enquiries done, mortgage and everything else in place ready to exchange.

But our buyers dragged their heels for a month ref the solicitor, pretended they'd ordered the searches and didn't pay for them until 19th July. Their solicitor has come back yesterday to our EA saying they don't expect their searches back til the end of august and not to call them until then. EA saying local searches taking up to 3 weeks atm so obvs another lie.

3 kids starting new schools in Sept an hours drive away. EA saying he doesn't want to push the buyer too hard. DH says put it back on the market but I don't want to lose onward purchase. WWYD???

I'm lacking in experience but I'd tell the EA either they push the buyer hard or you'll pull out and relist with another agent. Hard I know.

AdversePossession · 01/08/2024 14:01

Hello,

Joining in here, if that's ok. I have just yesterday put in an instruction with our agent for a reduction in price at £5000. Work needs doing on the eaves and roofing areas, as well as some ground stuff.

Reading through everyone else's selling/listing stories certainly brings home how drawn out it all is! I have found myself watching youtube videos about roof installations and eaves fittings, just so I have some idea. Having the survey was definitiely helping. We are buying a 1970s semi-detatched 3 bed house which has had a tenant for 10 years, so the surveyor cautioned about what to look for with the seller wanting the house off of their hands.