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The all new buyers/sellers waiting room (continued x4) thread!

1000 replies

TheEnglishSystemSucks · 10/08/2024 21:16

As @fromtheshires is in their new abode, and we've almost filled up the last thread - hope people don't mind me starting a new one.

My situation: waiting on survey reports before enquires/searches can start - so expect i'll be here for all 40 pages.

Hope exchanges and completions come quickly for all and no-one has the christmas 'will we won't we'.

Old thread here: https://www.mumsnet.com/talk/property/5105250-the-all-new-buyerssellers-waiting-room-continued-x3-thread?page=40

Page 40 | The all new buyers/sellers waiting room (continued x3) thread! | Mumsnet

As {mention: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 t...

https://www.mumsnet.com/talk/property/5105250-the-all-new-buyerssellers-waiting-room-continued-x3-thread?page=40

OP posts:
lingmerth · 17/09/2024 10:23

Has anyone had this question asked:
'Are we aware of any breaches of the covenants listed in the charges register?'
I've asked my solicitors how I find this out but thought I might get an answer quicker asking on here!

0hshutupshirley · 17/09/2024 10:27

What are the covenants? Are you aware of them having been breached? I don't think you need to do lots of work on it TBH. It's asking you if you are aware rather than asking if they have ever been breached. That's how I would take it anyway.

Dairymilk99 · 17/09/2024 10:29

lingmerth · 17/09/2024 10:23

Has anyone had this question asked:
'Are we aware of any breaches of the covenants listed in the charges register?'
I've asked my solicitors how I find this out but thought I might get an answer quicker asking on here!

Hi yes we had something similar - basically you need to check through your covenants and just confirm you haven’t breached any. If you haven’t done any work etc should be very simple. If you’re not sure you can ask your solicitor who will advise. For example we had done a loft conversion and it was slightly ambiguous if we had so just took our an indemnity policy for a couple of hundred quid just to satisfy the buyer. They really just need it to cover themselves.

BirthdayRainbow · 17/09/2024 10:48

lingmerth · 17/09/2024 10:23

Has anyone had this question asked:
'Are we aware of any breaches of the covenants listed in the charges register?'
I've asked my solicitors how I find this out but thought I might get an answer quicker asking on here!

We had this. Even though the time has run out we still answered as if in place. No gates or caravans are allowed, no one is allowed white windows on the outside. At least two neighbours have dine two of those but they are asking about your own house so we said no.

lingmerth · 17/09/2024 11:00

Thanks for the replies. How do I find out what the covenants are on our house? It was built in the 50's.

0hshutupshirley · 17/09/2024 11:15

Covenants should be on the title deeds and your solicitor can send you a copy.

kirinm · 17/09/2024 12:14

Having some very odd questions asked now - presumably not crucial to an offer but who knows?!

Will the bike brackets be staying. That's the brackets that cost about £50. 🙄

0hshutupshirley · 17/09/2024 12:25

Eh? They haven't made an offer yet and they're asking about bike brackets. That is weird. Id answer - "if you want them?"

Waiting4Autumm · 17/09/2024 12:29

How odd....I'd say if you wish to make an offer stipulate wither you want them Inclided or not....

So my house went live yesterday and I have a viewing that we're trying to secure some point this week based on their/our/estate agents availability they asked for tomorrow its litterally the one day we can't do!!

And 2 confirmed on Sunday! Very excited!

Champere · 17/09/2024 13:52

@kirinm How odd?!

On our purchase we suddenly have the contract to sign and mortgage offer in. Just need our survey result which is due on Thursday. All our searches are back already.

Our agent still not pinned down our buyer about their price reduction request, which we told them no to on Friday. Agent ignoring our instruction to remarket too.

MendaciousMabel · 17/09/2024 13:54

I really need to sound off here. So you may have seen my post a while ago that our house we're buying was revealed to be leasehold after weeks of delay from the sellers getting paperwork sorted. All advertised as a freehold and we were naive not checking this ourselves beforehand we just took the advert at face value.

We asked our sellers a month ago if they would buy the freehold and they've agreed to do this although it's taken a month for us to actually nail them down to agree to that.

My issue now is we only have 14 weeks left on our mortgage offer and we have to factor in Christmas closures too, so means that we realistically probably have about 13 weeks. My other half desperately wants this house as it is perfect in his eyes (I think others will come along if we rent here first and wait). For family reasons we need to move up here ASAP and have looked at rentals but can't commit to a tenancy until we know where we stand. Most rentals here are a 12 months tenancy as well which is not ideal. Renting also v competitive and not many family friendly properties come up often in decent areas.

I'm now thinking do we just forget about trying to sort the freehold out now and deal with that ourselves in a couple of years and try and push through a leasehold purchase before our offer expires? I'm going to speak to the bank today but as sellers solicitors are refusing to give any estimated timescales I can't exactly ask for an extension that I don't even know that I need.

My head is completely battered with all this as it's been 3 months now since we made our offer and we haven't even got to searches yet.

AGirlsNameIsAryaStark · 17/09/2024 14:35

@MendaciousMabel is your mortgage offer based on leasehold or freehold? I imagine if its been based on leasehold and your vendor buys the freehold, your lender will need to re-issue your mortgage documents and you would then get a new expiry date from that that may give you some more time?

MendaciousMabel · 17/09/2024 16:42

AGirlsNameIsAryaStark · 17/09/2024 14:35

@MendaciousMabel is your mortgage offer based on leasehold or freehold? I imagine if its been based on leasehold and your vendor buys the freehold, your lender will need to re-issue your mortgage documents and you would then get a new expiry date from that that may give you some more time?

It's currently based on freehold but spoke to lenders this morning and they've said we'd be able to extend both the valuation and get a new product which will then extend the offer. Our personal family circumstances mean we need to be here ASAP though and until we understand rough timescales for the whole process we're in complete limbo.

MotherOfRatios · 17/09/2024 17:41

Haven't posted it in awhile as haven't had much update.
some of my searches are back they have flagged subsidence but I don't think it's too much of an issue (seems to be common in London) . I emailed the estate agent two weeks ago with various questions and they still haven't responded and I've tried ringing and they still haven't responded. It's just a nightmare at this point.

MotherOfRatios · 17/09/2024 17:47

MendaciousMabel · 17/09/2024 13:54

I really need to sound off here. So you may have seen my post a while ago that our house we're buying was revealed to be leasehold after weeks of delay from the sellers getting paperwork sorted. All advertised as a freehold and we were naive not checking this ourselves beforehand we just took the advert at face value.

We asked our sellers a month ago if they would buy the freehold and they've agreed to do this although it's taken a month for us to actually nail them down to agree to that.

My issue now is we only have 14 weeks left on our mortgage offer and we have to factor in Christmas closures too, so means that we realistically probably have about 13 weeks. My other half desperately wants this house as it is perfect in his eyes (I think others will come along if we rent here first and wait). For family reasons we need to move up here ASAP and have looked at rentals but can't commit to a tenancy until we know where we stand. Most rentals here are a 12 months tenancy as well which is not ideal. Renting also v competitive and not many family friendly properties come up often in decent areas.

I'm now thinking do we just forget about trying to sort the freehold out now and deal with that ourselves in a couple of years and try and push through a leasehold purchase before our offer expires? I'm going to speak to the bank today but as sellers solicitors are refusing to give any estimated timescales I can't exactly ask for an extension that I don't even know that I need.

My head is completely battered with all this as it's been 3 months now since we made our offer and we haven't even got to searches yet.

Try posting in this group

The all new buyers/sellers waiting room (continued x4) thread!
MendaciousMabel · 17/09/2024 18:10

MotherOfRatios · 17/09/2024 17:47

Try posting in this group

Thanks - bizarrely it won't come up for me at all on Facebook...

Waiting4Autumm · 17/09/2024 18:43

What are the terms of the leasehold, granted you may not know this yet

6 years ago we sold a new build leasehold, was the genuine have you over a barrel new build leasehold system where it could basically double or more at each review. The buyers solicitor queried it and I replied it is what it is... and the family still bought but there was 900+ years on it so no queries on extending or anything
Makes me wary now...

kirinm · 17/09/2024 20:02

No offer. Apparently her friends put her off and she decided there wasn't enough storage.

BirthdayRainbow · 17/09/2024 20:28

My friend also put me off a house with her very valid comments. However I couldn't stop thinking about the house and went to see it again when I had viewed another no. I'm in the process of buying it.

TheEnglishSystemSucks · 18/09/2024 07:24

That's a shame @kirinm - you can always add storage ffs (under bed, floor to ceiling wardrobe etc). Hopefully the right person will be along soon.

After I chased the solicitor yesterday, suddenly all our search reports miraculously turned up! and the buyers raised some queries (not sure what they are yet). Coincidence? I think not. So never again will I feel guilty for sending chase up emails.

OP posts:
Gamergirl86 · 18/09/2024 08:19

@TheEnglishSystemSucks never feel guilty! I'm on the phone every single day at the moment between my solicitors, our EA and vendors EA trying to get an exchange /completion date. I'm sure they're sick of me but nothing seems to get done unless I'm badgering them!

Heckythump1 · 18/09/2024 09:16

Hello all, may I join?!
We have had the craziest week ever....
We viewed a house on Thursday, second viewing on Saturday, offer accepted Monday, Mortgage application submitted yesterday, Solicitors instructed yesterday!
We are first time buyers, so not sure if this is speedier than normal, but still doesn't all feel real! Our Mortgage advisor said it was the quickest and easiest case he's had in a long time though.
I am completely frazzled, did so much paperwork yesterday, whilst also juggling looking after my toddler, hoping it all slows down a little now, whilst everyone else does the work that needs to be done!

Oh and the sellers have no chain as they're buying a probate property (which is a fair way into the process, so we've been told) so we could well be in by Christmas!

kirinm · 18/09/2024 09:17

BirthdayRainbow · 17/09/2024 20:28

My friend also put me off a house with her very valid comments. However I couldn't stop thinking about the house and went to see it again when I had viewed another no. I'm in the process of buying it.

This might happen but not banking on it. We've got 4 viewings this weekend. And the house we got gazumped on is now back on the market. Stress levels ramping up again.

Cheeseandcrackers40 · 18/09/2024 10:27

Heckythump1 · 18/09/2024 09:16

Hello all, may I join?!
We have had the craziest week ever....
We viewed a house on Thursday, second viewing on Saturday, offer accepted Monday, Mortgage application submitted yesterday, Solicitors instructed yesterday!
We are first time buyers, so not sure if this is speedier than normal, but still doesn't all feel real! Our Mortgage advisor said it was the quickest and easiest case he's had in a long time though.
I am completely frazzled, did so much paperwork yesterday, whilst also juggling looking after my toddler, hoping it all slows down a little now, whilst everyone else does the work that needs to be done!

Oh and the sellers have no chain as they're buying a probate property (which is a fair way into the process, so we've been told) so we could well be in by Christmas!

Fingers crossed smooth sailing for you 😊 not being in a chain should work in your favour. I really didn't appreciate how easy our last purchase was (as we were first time buyers). Our current purchase has been anything but 😬🙈

Waiting4Autumm · 18/09/2024 10:31

Ooo fingers crossed @Heckythump1

When we were ftb we were buying a new build that was so easy! Second time round the chain was FTB to buy my house- us buying an empty rental- easy again!!! I am sure thus time will NOT be a straightforward chain 😅

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