The all-new buyers/sellers waiting room (continued x5) thread!

[BirthdayRainbow]

Hi I took the liberty of starting a new thread as I couldn't answer on the last one.

@kirinm I am glad you've decided I pull out. I wanted to suggest it but didn't want to stress you out. I hope the next house you view is the one and it all goes smoothly.

@ingkir I have just read all the search results. My son has helped with a couple of questions, I've left a message for my friend to help with something else and I am waiting for the solicitor to ring me back as they've attached someone else's details to the end of the paperwork 🙄. I'm distinctly unimpressed as of course potentially someone has mine and the whole stream could be wrong. Looking at what the emails say it is likely it is a one off but I needed to tell them. The receptionist was going to put me through to the solicitors secretary until I said why I was ringing. Already over the time of when she said she'd be back.

I still have a few things outstanding but I won't exchange until I have answers so I'll wait it out.

That suggests to me that they will wait to see what issues they can find, before spending any money on a survey. Sensible for them, but worrying for me?

Is anything likely to come up on the searches? Seems like the wrong way round to me although I suppose they could be trying to save money. Does slow the process down though.

We had an update from the estate agent today - who sounds very much like he now works for the buyer rather than us (!). Searches complete and mortgage offer in for our buyer. We dealt with the enquiries this week as best as we could and I guess we see if our responses were good enough or if they want to ask further questions.

I'm a bit worried about a down valuation so will have to see if an attempt to reduce the offer comes in the next few days.

The enquiries were definitely from the buyer as they queried whether the cat flap worked! (It does).

My DS was advised to.hold.off on searches until.the survey was done! I think, whichever way it is, it's to save money if it falls at one of the major stages.

Is anyone going through their sale using an agent from the company/branding Exp?

It's just my son is a FTB and the house has used Exp and he's got an online account. He had to pay £30 for the ID checks (bit cheeky but sounds like a lot at doing it now) and that is in the account showing as done and paid but he is curious as to what else will pop.up in there.

He is waiting to be advised by the agent that the chain is complete so he can instruct his surveyor and the agent confirmed a week ago he was still.waiting to hear. He doesn't want to.hassle the agent particularly if he is going to hear through this online account portal.

It's good to come on here and see how things are progressing for lots of you! 😊
So, the survey today on our house was not a homebuyer's survey - it was a mortgage valuation. Grrs. So I guess, we still have the survey to come 😑 The guy that did the valuation today was very nice though (Please don't down-value our house. Pretty please!).
These mortgage valuations confuse me though. We're porting our mortgage (with an additional part on top of current mortgage), so maybe ours was more simple. But we met with the mortgage advisor at the bank, we went through everything. He told us that they would do a computer valuation (of new property), if any questions arise, they may book a surveyor out. Our computer survey was okay, so no surveyor needed. Does this mean the computer said no to our current house (for buyers)? DH said it might just be because they are FTB, but is this common?

@EagerHouseMover it will be because they are FTB so more of a risk as they have presumably got a higher LTV than someone transferring equity from a sale. The bank stands to lose more if they default, so need to be sure they'd be likely to get the loan value back if it was repossessed. If you are only borrowing, say, 40% LTV then they can afford to be a bit more lax on that front because even if you didn't pay they would have no problem getting the smaller debt paid off.

Just had some more enquiries through which I've also just responded to. Seems like everyone is fairly on the ball. Shame we have nowhere to buy or I'd be close to getting excited!

Am I allowed to get impatient with the negotiation yet. First offer Friday, 7.30 last night second offer rejected, but not with a final, non-negotiable lowest price given. So we try again today, and maybe, just maybe they will get back to us by Friday. A year they have been on the market, you would have thought they would be pleased to move on!

Do you think it would be worth going in at best and final? They may not be that desperate to move and / or have to agree a certain figure.

Are your offers quite low?

@kirinm i think they are overpriced, given the length of time it has been on the market and looking at other properties in the price bracket in the area (all fairly unique in that bracket so difficult to compare absolutely).

Latest offer 5%, but as they had reduced asking already they may calculate from their original. We are looking at a reduction to offset the fact that it needs a new kitchen/bathroom and possibly boiler as that looked pretty dated.

Lol ... at least you know they are definitely visualising themselves in your house (and their cat!)

This is going to sound dumb but does anyone have a list of what should happen and in what order?!

Does it go -
Offer
Memo of sale
Mortgage survey
Searches
Survey
Solicitor questions
Draft contract
Exchange
Complete

Or am I missing a million steps?! I know searches can take a while but I don't really understand what else does?!

We are 100% ready to go and the person we are buying from is the same. They are moving into an empty house and everything is in place. Our buyer is a new buyer, in rented and keen to move ASAP. I'm interested to keep check on where we are in the process! Thanks

That's pretty much it but the real issue is when they raise enquiries and getting those enquiries answered 🙄

Mortgage docs to sign- I've just had to sign docs relating to my mortgage and get them witnessed

Land registry docs to sign

Getting them witnessed and back to your solicitor....

As in for the sale or purchase? We'd signed everything and were ready to exchange when our buyer pulled out.

I also feel like we answered so many questions for the original buyer and provided certificates for electrics and windows and boiler etc that I don't know what else they could ask?! (And if they did I'd probably not know the answers!) Maybe I'm just naive!

Yesterday was a good day. Spent hours packing and forgot to eat. Today I discovered my vendors are nowhere near ready to talk completion dates as they are still asking questions. On a house they've converted for a long time. My vendors have been lacking in transparency from day one and to my mind have been very slow to answer things to give their vendors time to find somewhere. In the process losing me a buyer and a lot of money. I've said no, we exchange within a week or I walk. I didn't pull out when I had cold feet as it is a horrible thing to do but this is unacceptable. They are holding people to ransom. Or trying to. They are certainly taking advantage of me I think.

We've had a good day. Got a message from our solicitor saying they should be sending us the report on title end of this week or beginning of next, so may be in for Christmas.

It's only been six weeks since offer accepted so moving lovely and fast.

Let's hope I have just jinxed it!

@BirthdayRainbow I'm sorry to say but that sounds very like our vendors. They decided to pull out of their onward purchase just as the rest of the chain were all ready to exchange. I hope yours don't do the same. I honestly don't understand why people are such dicks.
We've found something else and our buyers are waiting (for now) so hopefully will be ok but I hope you don't have to start again too.

No one is pulling out as such @0hshutupshirley , it is more they are going unbelievably slow for a selfish reason. I've had enough.

My buyers love the house and want to be in now so I'm hoping they'll wait but if not, then fine. I refuse to be held to ransom by anyone now.

These are for my purchase. Sale has been relatively simple in comparison! And tbh I feel like saying "raise no enquiries I don't care just want the house..."

Oh no. I know how this feels. You are doing the right thing, hopefully exchange will happen for you soon xxx

I've started looking. It's soul destroying. Thanks @Cheeseandcrackers40 , maybe they'll give their head a wobble. I doubt they will be expecting this from me.

Coveted the house. Hate stupid auto correct.

I've not had a good day. Last week I got told that my buyer's solicitor was ready for exchange and so am I. We were just waiting on my seller and his onward purchase to get the last couple of bits sorted. We'd all agreed on a completion date for 22nd November, I'd booked a removal company, and I thought I could see the end of the tunnel of the stress of the past 5 months!

That was until my solicitors decided to email me at 5:30pm to tell me that there was a charge left on my leasehold title in error by Home & Communities Agency, and it's unlikely that my buyers solicitor will agree to exchange until it's removed.

I don't know why this wasn't picked up a lot sooner, and they didn't give me a timescale as to when the issue is going to be sorted. It felt like they decided to drop the email on me and then log off for the day, so hopefully I get some answers on Thursday!

My solicitors have been unbelievably incompetent all the way through this process, that this feels like a little cherry on top of the shitty cake they've served me!! I'm so upset and stressed that I now wouldn't be surprised if this all fell through, and I just can't imagine moving right now. 😫

Sympathy 💐 this is a nightmare time and you will need to push and complain to someone higher in the practice. That’s what we’ve had to do. Hope it gets sorted. Deep breath.

Pushing for exchange next week. Everyone is ready apart from our buyers. This is the scary point. You just want dates. Everyone below and above are ready. The ‘transfer’ has gone over to our buyers. Not fully sure what this means though.