The all new buyers/sellers waiting room (x 7!) thread

[JoyfulSpring]

Starting a new thread so we can continue the conversation...

I’m bottom so first one, currently in rented. 4 months actually which isn’t as long as some. We don’t have a long chain - 3 of us I think

That's what I fear might happen to me, too. I haven't seen the contract nor handed over any money yet.

Can it actually happen? That the chain is ready but your solicitor says 'I'm not, can't make it'? Has it ever happened to anyone here?

I believe the EA had had a conversation with my solicitor who was ‘getting everything together’.. I’m sure all will become clear in the morning.

If that is what is happening then a lot needs to happen tomorrow, Wednesday at the latest and my working week is crammed so no idea how I’m going to do it all. Fairly certain I’ve read on here that exchanging on a Friday is a bad idea but maybe that’s completing - I can’t remember.

I am definitely not mentally ready for both on the same day if that is the plan. I did a 12 hour day today and I feel completely physically and emotionally done in.

That's counting on a lot of things to be right, then... I don't know about you, but I've had to query almost everything my solicitor has sent me, so I wouldn't be 100% confident that the contract will be spot on and ready to sign with no amendments when I get it. I hope your solicitor is better than mine and getting everything sorted!

Completion is not advised on a Friday, due to possible bank issues that might postpone everything to the Monday, however exchanging might just not happen as solicitors will be prioritising completions, or happen very late. But, if postponed to the Monday, I guess it's not as bad as completion going wrong, apart for the emotional damage.

Hopefully, though, everything will go fine and you'll manage. Do you have a date for completion?

That sounds like a rather long time for such a short chain.

I hope I'm wrong but something sounds off here - I could be mistaken but usually in a chain the first ones in a chain have the most amount of time to get everything sorted and end up driving the chain forward the fact it's reversed in your situation you would ring alarm bells for me.

It doesn't sound like your going to make the 31 march which may not be a problem for you but - if it is for any of your buyers in the chain then the whole chain may or could collapse so you don't get to move either.

It's worth floating the idea if you think you aren't gonna make that deadline - because if it happens last min that the date won't be met - I imagine feelings will get v fracturous and there will be less good will to keep the chain together.

I had my contract quite quickly into the process so I'm a little gobsmacked you haven't. I suppose how fast you move depends on how you like your onward purchase and if you're willing to risk the money spent if indeed the others in the chain can't afford the stamp duty increase.

@Gekko21 luckily our EA is a very good family friend so they keep us updated with our buyer and they also update us on the vendors side even though they aren't the vendors EA so I don't tend to bother the sols with the small details that the EA can deal with for us.
We only contact the sols for an update on the legal side of things so contracts, land reg, searches, enquires, etc, they've got no reason to be "annoyed" when I ask for an update every 1-2 weeks.

Well our buyers emailed to withdraw their offer last night.

Apparently their broker and solicitor both agree that the unadopted road will make it hard in the future to sell / get a mortgage - despite the fact they are the only ones, in the 11 years I’ve lived here, to have had a problem. I’ve even found the lenders handbook which clearly outlines every other lender who doesn’t care but it makes no difference.

I’m gutted - our sellers will almost certainly lose their onward purchase now and I would understand if they decided to get rid of us too. We are back on the market and had loads of offers last time so hoping we can be back under offer quickly but it sucks.

our sellers are round the corner from me so I’ve dropped a handwritten letter through the door explaining what’s happened and what I’ll do to try and get a quick sale but it’s probably too little too late. This process sucks.

So sorry @WittyOchreBird. You must be gutted. Fingers crossed that a new offer comes in for you quickly so the chain can pick up the pieces.

@WittyOchreBird ahhh love I'm so sorry.

You might not lose your onward purchase ! Put buyers lost their buyers and we gave them a grace period of a few weeks and the chain was reconnected in a week.

Don't lose out hope. There are good people out there !!

Oh @WittyOchreBird I am very sorry to hear this. It is so frustrating when, as you say, it wouldn't be a problem for other lenders.

Unbelievable that unadopted roads have issues! We've got one unadopted road in town and it's got 100s of houses on it! Granted its full of unrepaired potholes (although the whole country is starting to compete with them!) But the homes are good and it might affect the price a bob or two due to its condition, but the road isn't going to disappear! Builders should be made to get them adopted as part of planning or put in place a sort of service charge arrangement so that its known the road upkeep will be maintained as there's an annual income.

Mind you I've always been annoyed by mundic block not being mortgageable. Quite a few homes in our town have mundic and have been well looked after and are just as good as when we first moved in over 30 years ago!

Sorry @WittyOchreBird
Loads of unadopted roads round here and people seem to get on OK!

I gave my authority to exchange at 10.30 this morning. Still not happened. My buyers (start of the chain) haven't given theirs apparently. My EA is finding out what's going on and see if they've even paid their deposit yet. Still supposed to be completing Friday!

@NormallyAwkward, you'd think at this stage people could just get on and do it!

@Abra1t it's unreal how ridiculous it all is!

OMG!!! My mortgage offer has been approved, apart from "final checks"!!! 😅

My broker says the formal offer should be through before the end of the week. What does "final checks" mean? Can it still go wrong? Is there anything I should do/not do before it comes through? I was about to go ahead with replacing my car, which is barely limping along - should I avoid a big purchase just for the minute? Probably stupid questions, I just hardly dare breathe in case anything could jeopardise it now.

Can anyone advise please? The timeline is skewed a bit as trying to keep anon.

Offer made on a house with someone moving to a new build, both accepted late last year. Time line being spring. We are now past the time I was led to believe I'd have completed. Vendor offered to break the chain and then rescinded this days later. My buyer and vendor both need to complete this month for stamp duty and mortgage reasons. Neither applies to me but emotionally I'm the one most in need of moving now. What is my play here? I feel that everyone is lying to me or stretching the truth and the builders are not being very forthcoming. Pressure from ex h is not helping either and he's very blasé about me threatening to pull out and start looking again. That would be house number 3 I've tried to buy if I have too. I was strung along and lied to by house one vendors for five months last year.

Congratulations!! It can still go wrong but it's highly unlikely to go wrong when it's going through its final checks.
For purchases on any sort of finance plan I would wait until after completion as they still can do one last final credit checks at the very last stage.
They did with my last property purchase so I'm not expecting it to be any different this time round.
We desperately need to buy a sofa for our new property on a 0% interest free credit plan, it's a 8 week wait for the sofa but we've decided to wait until after completion because we don't want to potentially jeopardise our chances in any way, it's slightly frustrating but we've no choice but to wait.

Thanks @lemonwrighty that's exactly the kind of thing I wondered. I've been looking for a new (secondhand) car for ages and not really found what I wanted, and now of course exactly the right thing comes up just as I want to look squeaky clean financially and daren't risk looking overstretched. I could actually cover it with cash, but then what if they want a last-minute look at my bank accounts. Omg, house purchase, just go through, damn you!

@BarbaricYawp speak to your mortgage advisor about the car because if I remember correctly I don't think they asked for bank statements when they did the final credit check, I'm sure they just did a credit search. If you have the funds to cover the car upfront and this money isn't going toward the house purchase, fees etc, I should imagine this would be fine but I would double check with the mortgage advisor first.

Can you go through with your own sale @2025willbemytime and stay with someone/rent? Your buyer's ready to exchange?

No. I have no family, nor money to waste on rent and animals. My buyers and I have been ready for months to exchange. They broke their chain and are living with family, waiting for my house 😢

Where are you in the chain ? What's are the positions of others in the chain ready to go ? Do you know if it's one party dragging their heels what the issue is ?

Hello all we are still waiting for exchange - we can't all agree on a date to complete which is frustrating as we are working with the last 3 days of march due various cockups.

Out of all 6 in the chain only one can't do the date everyone else can do, the other two days about only hand full can do either side - I'm willing to do any date at this rate so can do any of them but so I fear we might not make it end of march to people arguing the toss and the chain collapse if deadline isn't met.

Waiting for someone to say sorry I can't do end of march now I'm to busy at work or some type of bollocks

Everyone says says that it will all suddenly move and bang done but going by this thread ? That's utter rubbish isn't it ? 😭😭😭

I imagine you want to shake them by the lapels and shout "do you actually want to move?" in their face @hotandpermi. In a 6-house chain, everyone has to be flexible and it's clearly up to the one to accommodate the five here. Why are they saying they can't do it? What could be that important?