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.

I 100% agree. They tried to change the system many moons ago (if you're old enough to remember home information packs) so the seller had a pack ready for buyers but there are too many people with skin in the game who stopped it.

Searches only last three months so you would have to keep redoing them over and over.

Banks didn't trust the searches from sellers so were making buyers pay for their own searches anyway for indemnity reasons in case they needed to claim against solicitors for allowing them to pay out for a lemon.

How many people pull out after a survey. Imagine if the seller just got one survey for potentially 5 people. Thats 5 lots of surveys surveyors cant charge for.

Solicitors didn't like them. Some for indemnity reasons but the cynical side of me says how many people pull out after work is started. Packs would mean there were no surprises to buyers so less chargeable work would be being done.

Estate agents didn't like them either - I'm assuming because they would lose out on selling preferred surveyors and it would mean property prices were more realistic cutting their commission.

The system is fucked!

Just one outstanding query on our purchase, i think all sorted with our sale.

But now we have the pain of organising quotes for work required on our purchase with a view to renegotiating sale price no idea how long that will take...

Apparently my vendor’s solicitor has the new mortgage paperwork through which is good news. In theory we could still exchange today says my EA.
however, since I’ve had radio silence from my solicitor so far today and EA above (both contacted last night and this morning), I’m doubting it will but hopeful it will be Monday seeing as completion is next Friday 😬 Just waiting on my removal firm ringing me again today and me telling them again I can’t afford to formally accept their quote in case completion changes 😬😲
Honestly the stress is unreal. This system is so wrong.

So sorry for what has happened in your town @AliceinSlumberland . I've been thinking of all the families and was in awe at one of the mothers asking for peace as she grieves the worse loss 💐💔.

@Marshmallowbrain Good luck!

In some good news, I've finally spoken to my solicitor who seems very good and my friend has viewed a house and I'm hoping I can see it next week and it will be the one.

Today marks the 1 year anniversary of our house going on the market. I knew from friends who had moved recently, that things could take perhaps 6-9 months, yet here we are, still waiting to exchange with our 3rd set of buyers. The chain above us are still waiting, what I’ve realised through this dreadful process, is that everything comes down to the people at the bottom of the chain. For us, that’s our buyers. Annoyingly, we’ve had to reapply for a mortgage, because we had run out of extensions on our offer. This time, the lender needs to do a valuation survey, even though we’re borrowing less than we were. I’m sure the rest of the chain think the hold-up is all down to us, but our buyers’ sol keeps sending enquiries- sometimes the same questions.

I”m so fed up with it all, I’m a teacher and I feel like the summer holidays have been wasted because we should have been in our new house, making it a home. Instead, we’re stuck here, I don’t know when to commission removals because we haven’t even got a date on the horizon yet despite it being 2 months since our buyers offered. I’d love to use my holidays to pack, but just don’t know how long it’ll be. Hopefully everyone hears good news next week, I’m off to toast this unwanted anniversary!

End of the day update: yes the seller’s solicitors have now got their revised mortgage offer: good but it’s too late to exchange. Monday? But they need now to request funds and won’t exchange until that’s confirmed 😩 so not sure it’ll be til Tuesday 😡
FFS… I’ve said that if we don’t exchange Monday then it will be down to me as to whether I can book removals for the Friday as I refuse to pay for them now (they’re pencilled in) and then pay again if completion date changes. Meanwhile the sellers blissfully enjoy their holiday abroad not giving a shit about the nerves and turmoil caused.
I’ve a good mind to renegotiate my mortgage now and halt proceedings!

Nothing happening here either. Have been chasing solicitors every week and apparently they have now heard that the vendors solicitors are finally sending off the draft contract next week and then hopefully searches can start. So for us it's not the bottom of the chain, it's crappy solicitors at the top of the chain ⛓️

Some good news I guess then and still a chance you can complete next Friday!

The solicitors can usually get funds within 24h but they always recommend 3 days as an absolute minimum so again more good news.

What you need to do is not have a shit weekend and go to the park or something and try and take your mind off it.

First thing Monday call your solicitor and give them authority to exchange just in case it all falls into place. Then do the same Tuesday morning. They can then start putting pressure on.

I bet your buyer is having a shit time too. Whilst your sellers enjoy the rest of their holiday may they be struck down with chub rub because of the heat!

Thats a wrap for another week folks. Try not to stress too much like I was when in the process over these long two days.

Pick up the phones Monday morning and get right back on it but enjoy the sunshine in the mean time!

@fromtheshires thanks for that virtual hug. I’m cautiously optimistic it’ll happen still and going to enjoy the weekend and hope Monday brings good news.
Worst case scenario is that it’s me who delays it to the week after: it’ll be very annoying but after six months just need this to happen.
Enjoy the weekend all. No emails or calls to happen for us all for two days. Back to the enjoying the Olympics

Another week gone and we still don't have a buyer - I want to move :(

The solicitor was closed when we rang to check what's going on...
EA said she was 99.9% sure exchange happens as they has above us 🤷‍♀️

We picked up the boys from their childminder and went to the pub to celebrate anyway...any excuse.

We completed on our purchase last week, already it feels so much like home.

Boxes and paper everywhere and there's a few key items (screws for shelves placement on all our bookcases and other screws for furniture) which we can't find and the removals/storage company are searching for.

Made the last few months of stress worth it! Ax a reminder here's our rough timeline:

• End of Feb (Saturday) viewed a house and fell in love. Put offer in same day.
• End of Feb (Monday) offer accepted and estate agents instructed on our sale. At this point we were told the top of the chain could complete end of July at earliest.
• Mid March (after three weeks) received several identical offers. Went to best and final but accepted off from chain free cash buyer (slightly lower offer than others).
• End March buyer adds in condition that they want all our furniture included in the price. We offer up what furniture we are willing to leave for "free", what we'd be willing to sell and what was coming with us. Never got a response to this. The relevant form sent to solicitors was filled in to this effect.
• At this point all parties agreed to end of July aim for completion, but with a 4 week gap from exchange to accommodate holidays. Conveyancing and surveys rumble on with a bit of back and forth but no major issues.
• Mid June our buyer announces they need to complete by the start of July and won't budge. Top of chain can't budge (and having been transparent all along fair enough!). We agree to break the chain on the condition exchange is simultaneous.
• at this point we are told we are holding up the chain and everyone else is ready to exchange. We fire a rocket at our solicitors and they turn things around and get ready to go in four working days.
• End of June we had FIVE consecutive days attempting to exchange. Turns out we are the only ones ready at the start of that week but by the end we managed it.
• Start of July - complete on our sale. Removals was a shambles as they underestimated the amount of stuff despite an in-person quote. Didn't vacate until 5pm, our estate agents managed to delay our buyer and no issues.
• End of July complete on purchase. Other than us feeling impatient everything went smoothly.

I have just had a call from the estate agents regarding our sale querying where some of the furniture is, mentioning specific items we flagged as not remaining or we'd need payment for. We referred buyers back to the documents sent months ago. Assuming they don't have a leg to stand on...

Thanks @TerrierOrTerror it’s good to hear that things can work out in the end. I’ve made a note to keep all screws in labelled bags with me. I really don’t think your buyers have a leg to stand on about the furniture, they should have read the documents that were sent to them. I can’t believe your EA is even bothering you with this! Enjoy unpacking in your new home!

Update on our purchase:

The vendors EA called today, the delay has been caused by the vendor choosing an online solicitor but informing them they ( the vendor) is computer illiterate and need all.documents as hard copy.

So basically 10.weeks of emails have been ignored.

How. How is this allowed to happen 🙃

Apparently they have talked through with their solicitor what they need and EA has assured us things should run smoothly from here
But what happens when the enquires come through? Surely its quicker and easier to answer via email? Sending a hard copy of a question to and from the vendor every time an enquiry comes up is going to take forever.

I'm feeling relieved but also if.possible more stressed.

That's actually insane. Why would you choose an online solicitor if you're computer illiterate??

That's shocking @CharlieBalf and you must be hopping.

All your furniture, @TerrierOrTerror ?! I'm assuming you have fantastic taste but how odd to ignore what you said and now query it!

We've had an update too. EA has been off after a bereavement but all our issues about 6 week searches come from our buyers solicitor, not our buyer. The update is that they had asked for exchange on 12th, despite their solicitor saying not to contact her until the end of the month. They were planning on being in by 16th. They told the EA she's rude and treats them like they work for her! They were worried about switching but have decided to ring her superiors and ask for a different conveyancer in the same org. Looks like she's wfh with kids and just trying to put off everything til her kids go back, which is outrageous as we are ready to go, as are they, apart from their searches which were ordered a fortnight ago. Our LA have confirmed that they are currently returning within 10 days and that there are no issues arising their end when I asked them. So. Let's see what Monday brings but I feel much less wound up now.

@Itsrainingten @RinklyRomaine
Genuinely one of the stupidest moves I've ever heard of.
Surely, surely it's more work for the vendor this way? Not to mention the TIME it takes to fill in by hand, return and repeat after every enquiry?

Honestly it's so stressful! The EA says third week in September is doable for completion but I am so hesitant to plan anything.

Seems like the 'blip' has been identified but it does nothing for my confidence in the vendor .

Can I join ? Listed our property again after our buyer called a cheeky fuckery of a stunt.

Gahhh lots of viewings but none in a proceed able state ? Should I say only people who are under offer ?

Hello @hotandpremeni I told my agent before I appointed him that only people who were sold or on the market were to be allowed to view. I said I didn't have time to mess about with people who were on a day out. He agreed as didn't want to waste his time. The second hadn't even put theirs on the market and the fourth and fifth viewers weren't sold. We accepted an offer from the second as no other viewings were booked in by then but said they had two weeks to sell otherwise mine went back on. Four weeks later I sold it to someone else and they were disappointed but still not on the market. It worked out for the best as it was the third couple we had accepted from and I got full asking price.

So really it's all about the price I think as well as motivation.to move quick if they aren't on the market but want yours. You can't accept an offer from someone who hasn't sold anyway as you can't move forward. Someone who has sold has bought mine but what got more people through the door was knocking 25k off.

@BirthdayRainbow I think I might have to say that tbh. We are really competitively priced and had 3 people so far that said we want to make an offer and are on the market but you can't do much with that tbh.

I'm not desperate to sell just didn't realise people just went and viewed houses for a day out 😅 so it's a learning curve. We have 2 small humans so keeping the house show tidy is hard work.

I'm wondering if it's the photos or something else but all feedback has been really positive which tbh I kinda wish it we had something a bit more tangible.

This is golden. Probably the estate agents highest recommendation too and only a few quid less than a proper one. Hopefully they will use first class post which helps speed things up a little bit.

FWIW, even our high street solicitors emailed us all the documents to review and sign so theres no guarantee that if your seller used a high street solicitor you would have had the same outcome.

Sympathies as I have a fluffy dog so had to take her out and constantly hoover but at least she didn't put toys everywhere. Too much.

If I'd have had multiple offers from people not sold or even up for sale I would have kept it on the market and carried on letting viewings happen, which is what I did. Albeit with just one initial offer.

I am viewing a house this week and if I decide I want it and are willing to pay the asking price I'm going to be asking that it be taken off.

More cleaning and packing today as I’m manifesting that we will complete on Friday despite us not exchanging yet (long story: vendors’ fault), and desperate to exchange Monday/Tuesday so will be a nervy day tmw. However, as they’re waiting to see if lender can release funds for Friday when they only asked Friday afternoon, and won’t exchange before the confirmation of this, I’m not sure Monday will happen either 😩

It feels very odd to be filling in a a form to say what is staying and what is going when I don't know what I'll get at the next house.