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

[JoyfulSpring]

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

Chain of three, I'm number two. Number one knows the situation. Number three is moving to a new build which was supposed to be ready by now and no one seems or know when. Builders being very quiet yet also I'm getting information that doesn't seem to me true.

@BarbaricYawp to be fair to them I think it's because their preferred delivery people aren't available so may have to get people around again to requote - also I imagine the end of the bloody month is going to be hard to find people so I totally get it. But without this we can't exchange and others may lose their slot.

Yes I do want to shake people tbh it's been ongoing for months and sad to say but I think home selling and buying brings out the worst and most selfish in some people

@2025willbemytime ahh it's new builds so please no one lynch me but they rarely run on time. I believe most new builds want you to exchange asap. Do you know what their short stop or long stop date is ? I imagine you have been given their short stop. Sadly developers can be a law onto their own. If it's then holding it up personally I would say if we can't make march end - pass the extra money up and along to the end of chain ? Since it's their fault with all this drama. I wonder if they are part expecting it tbh

to be fair to them I think it's because their preferred delivery people aren't available

I think you're being very fair indeed to them! Can't believe someone would crash a chain of 6 for this reason. Especially given the added stamp duty dimension.

ahh it's new builds so please no one lynch me but they rarely run on time. I believe most new builds want you to exchange asap. Do you know what their short stop or long stop date is ? I imagine you have been given their short stop. Sadly developers can be a law onto their own. If it's then holding it up personally I would say if we can't make march end - pass the extra money up and along to the end of chain ? Since it's their fault with all this drama. I wonder if they are part expecting it tbh
@hotandpermi I don't know what you mean by short stop and long stop. All I know is I was told one month when I enquired about the vendor's plans, then it was the following month days later when I offered. There's no communication but the vendor saying she'll break the chain then changing her mind is just cruel. But indicative of how she's been from the start tbh. I don't know what you mean by passing up the money either. It's the end if the chain buying the new build btw.

Neither can I!

I would be phoning round every delivery firm in the county never mind their "preferred delivery people" - they need to just find a firm with availability!

@2025willbemytime so short stop (like a soft deadline) in new build term is we expected the house to be ready by 1st march 2025, but what's written into the contracts with new builds is - they have a hard stop (these houses must be built by 30th june 2025) so essentially they can move the goal posts. Most people don't look at the fine print.

Re stamp duty if it's going to cost people at beginning of your chain 2k more, they may say ok I need to drop my offer on your house to make the numbers work or we pull out, you can either swallow that cost or say ok to the people above you ok our buyers have had to reduce their offer due to stamp duty increase so you then say to your onward purchase our offer has reduced by 2k (from people in front of you plus whatever increase in stamp duty you wouldnt have to pay if had completed before the deadline). It's risky but an option.

Honestly all in ready to just say I will move your boxes, my boxes the whole chains boxes if we can get this sorted. Because we don't have time and are running out of time quickly.

There's always one bellend in every chain 😒

Thank you @hotandpermi. I definitely feel I've been lied to and nor kept up to speed. My buyers are getting an absolute bargain and a pretty much fully furnished house with appliances so I'd not want to have a lower price but it is about the long game. My vendor wouldn't knock a penny off even though the survey was scary so I'm not hopeful. However, one person can't dictate to two buyers so we'll see. It's just been made worse by them saying they will break the chain, I think I'm moving in three weeks, my buyers are delighted having waited since late last year, to days later her saying I can't, won't actually as it will cost me money.

My DH phoned the solicitor today - we are now waiting for our buyers solicitor to get back to them after sending over yet more information to them last week. They are the ones who are aiming for a end of March deadline so hopefully they are also pushing from their side also. Solicitor did mention end of week / start of next week for exchange but I am really not hopeful at this point. My skin is playing up with the stress. After completion we will then still have a few weeks while we wait for our house purchase to catch up, living with family at the moment as we have relocated so feels like life will be on hold for a little while longer.

Our solicitors has not yet answered our queries. Howver, they now asked us for the third time in three weeks for our preferred completion date. Either they are going senile, or maybe they've heard that the rest of the chain is done with enquiries?

Thank you, hoping this will be the case 🤞🏼 We so far have 8 viewings booked for the weekend which I really hope will translate into offers!

Yep it seems we have been mega unlucky to be lumped with a solicitor / broker combo who can’t see past the tickbox in front of them

@WittyOchreBird personally I would fire the broker but I'm as my username would suggest - not on my most rational mind at the moment (moving house is probably contributing to that as well)

I'm so sorry you have had this happen. The bank you mentioned previously is notorious for this type of bullshit. Hopefully you get another buyer soon and offer on the table. That amount of viewings sounds really positive. I'm crossing my fingers for you !

@WittyOchreBird hope you have a bidding war over the weekend to make up for all the stress.

Signed and returned all docs today (hopefully) so waiting now to hear when we exchange. Completion date 31st March so no room for error if we want to be done in time for avoiding the stamp duty change. Its around £24,000 for us (though we can claim some back later as we are buying then selling our first home so paying higher rater initially) So it makes a huge difference!

@Hoolahoophop, right to the edge!

Wow good luck, that is a huge amount to save!! There's us hoping to save the 2.5k although it was always unlikely we would make the deadline.

@WittyOchreBird Great that you have that many more viewings booked in!!! We only ever had 1 with ours in recent times.

It's because we are buying a second home, then seeling ours so should be able to claim back some of that later. But it's still a massive increase to pay out initially cash flow wise.

Still waiting for exchange! I've been chasing all day. My EA says the first solicitor in the chain will make the call now. We shall see...

Transferred the deposit today, makes it seem very real and also a little daunting being a significant amount. Due to exchange on Friday and complete next week. Its been put back a few weeks already so really hoping it happens as now planned.

Fingers crossed for all of you!

I've finally received all the answers to my outstanding queries, so I can say that we are ready! We only need to find out if the rest of the chain is, and if we'll make it. At least, if something happens it won't be our fault that they didn't manage to escape the Stamp Duty increase. It's been one heck of a run and I'll never buy again if there's a deadline in sight!!!

All the positive comments give me hope !!!

I have been told by a few people we are on the brink of exchange but the dates that have been floated about from the email chain EA are different from the ones solicitor chain.

Ready to basically pass out every time ny phone rings !! Sending fast moving dust

No update at all for us yet this week.......

Exchange is now tomorrow as no response from the solicitor above! Talk about cutting it fine! Still no one has asked for my deposit so chased that again for the 3rd time!

@NormallyAwkward, it may be that the deposit from the bottom is passing up the chain without being topped up. They wouldn't be able to exchange if they needed money from you.

No update for me yet again this week ☹️