The all new buyers/sellers waiting room (8) lies lies and the stamp duty deadline

[hotandpermi]

Continuing on the convo- title based on the theme of the last thread

Yes we started the process in 2021, so this is a total of 6 buyers and 3 properties later. And then we decide to take on the stamp duty deadline as what's a bit more stress hey!

@wimbyace You've made a declaration of love to a lawyer? Big mistake. BIG mistake. You won't stand a chance of getting out of that one without giving up half your house! 😆

Congrats on exchanging! Can't believe you are on buyer 6!

Out of interest how different were the 6 offers? Were they massively different over the different years and markets?

When people talk of "exchange" is that the same as concluding the missives?

Exchange is where the chain pays their deposits and can't back out.

Completion is when final money is paid and people move in.

Sometimes they are done on the same day.

Oh right! Ok so in Scotland when missives are concluded we are legally bound to the purchase or sale but no money is swapped

😂 Everyone thinks it's hilarious as my partner and kids heard me say it! Never living it down!
Buyer 1 2021 I think was approx 270, Buyer 2 changed their mind after a couple of days, Buyer 3 in early 2022 was 290 (things went crazy 2021), Year out 2023, Buyer 4 in 2024 was 290, Buyer 5 also 2024 295, Buyer 2025 293.
Never had a problem getting a buyer, problem has always been with the onward purchase.

Why didn't you sell and then rent?

Essentially as renting would be more than double my mortgage, also very limited where I live. In 2022 mortgage rates starting jumping so actually we could have been in the position where we couldn't afford to buy and got stuck in rental, meanwhile throwing away our house savings. I wanted security for my children so staying put was always the better option for us.

I couldn’t sleep at all last night, I haven’t felt this mentally strained for a long time, probably since my divorce.

I know it’s not over until it’s over but time is running out now. We had been trying to exchange since last Monday, since Wednesday vendor has ghosted everyone.

They KNEW we needed to get exchanged to meet deadline and have just not bothered to respond. I think leaving it like on a Friday is just cruel. It’s ruined my weekend and I’m a pretty robust person normally.

I made it worse last night working out how much I have lost financially if vendor pulls out or simply doesn’t respond. Trying to think of the words I’m going to use to explain to DS why after all of this it’s not happening.

Fuck all on the market either, I’m stuck in a rented hovel plagued by black mold and antisocial neighbours- this was the ticket out.

I know it still might happen but my gut is telling me I’ve been completely mucked about.

If the vendor has changed mind then it would be kinder just to have told me asap not this elongated painful wait.

Sorry to ramble, I have no one in real life.

Feeling horrible today but got to stick a brave face on for DS and carry on.

@Limeandsober do you know what is it the vendors are not actually doing? Is it giving their authorization to exchange or do they still need to send their paperwork signed?

Do you have any chance to speak with the EA about this?

This will be a tough week for most of us. I'm really hoping on exchange on Monday, so I can breathe between exchange and completion. It might still happen for lots of us!

Also, very curious to find out what our hold-up was yesterday. Honestly, have no clue what the usual exchange hold-ups might be. Solicitors not picking up their phones? Buyers and sellers not giving their authorization?

Not giving the go ahead to exchange - something that was a non issue in the boundary of his onward purchase is now an issue. Solicitors’s have provided a solution but vendor not engaging.

I know I’m not alone, we will get through it and same as you just need that call on Monday to say it’s all done.

Fingers crossed for you guys on Monday, it is such a stressful time. Let's hope they can push it through.
Tuesday I was told about another search needed, no one had signed contracts etc but somehow we got over the line yesterday. I honestly don't think we would if it wasn't for me chasing everyone, I sent a ridiculous amount of emails.
Hoping it all comes together for you too xx
Do you know if they have put in their COT to the mortgage lenders as apparently if they do this they have time to release the funds? (Don't ask me what a COT actually is 😅)

@Limeandsober oh i really feel for you. Easily said then done but try and have a great weekend with your DS as there’s nothing that can be done over the weekend.
Get on that phone Monday to find out what is going on, get the EA to chase vendors solicitors and onward purchase to see what the hold up is, I know you’ve said a non issue with boundary but what exactly is the issue with the boundary? say to them that if you don’t exchange now the chain will collapse.
Urgent release of funds apparently only takes a few days so you’re not out just yet.
We have 6 working days until the 31 March.
Fingers crossed for us.

Well exchange didn't happen yesterday (supposedly my solicitors was always aiming for Monday as the exchange date, but the Paralegal I spoke to said the aim was Friday).

Am now panicking because I had booked in our removal company a few weeks ago for completion date of 31st March and just realised I haven't heard from them and am worried they haven't actually booked us in.

I think it’s to do with the position of a fence.

but I only found out about that on Wednesday, previous I had been told they couldn’t get hold of solicitors above.. so a mixture of stories.

My concern is that if they haven’t responded to anyone since Wednesday what happens if they just don’t respond on Monday, Tuesday Wednesday? I know the answer.

Yes I’ve just looked up and mortgage funds can be released in 48 hours if you pay £15 so I suppose there is that..

Ive been clock watching hopefully every weekday until 5pm hoping for that call and I’m exhausted. It never comes.

I think ive found a new form of torture. Glad I have you all

We are moving ourselves but of course there are now no big moving vans available to hire! Luckily my OH does have use of a works van so gonna be a case of moving as much in the week to store at parents and in laws houses and finding the biggest van there is available for moving day!
We also have very small cars.......

@limeandsober

This is so hard on you.

I've no idea how my DS stayed so calm yesterday when he got that stroppy email. He's done everything as requested and on time.

Now there's one piece of missing information that the vendors solicitors appear to not want to engage in giving or putting any work into and so - out of process - are using the sales progressor to get my son to "sort his solicitor out" as time is ticking.

Remember that the deadline doesn't matter to him!! It's them that want to save the SD!

They need to answer the question on their vendors behalf as as far as I can see the answer will be yes or no, and may require a phone call to a third party to confirm. Its probably taken them longer to complain through the sales progressor than it would have been to do it.

It is incredulous. Some conveyancers are dreadfully unprofessional. This one has been particularly unhelpful with not providing information all along.

Anyway I need to wind my neck in as he is taking it in his stride and I'm just a (hopefully helpful) bystander.

Ask all friends! I'd help if I were asked.

Funny DS is out running today with group from work. He was complaining about the house buying process and two have offered to help him.move next weekend if he actually completes on 28th. So now he's got three offers, one van and two biggish cars which will cost him a few beers and pizzas at the end of the day!

He's lucky though in that he's moving from furnished so doesn't have a dreadful amount and has a month to do it in (if he wants).

Yes, last time we moved it was from parents houses and childless so a very different experience! I am ok with it though, have booked the week off work so it will happen. At least this bit is within our control, I am not good with things that aren't.

Exciting! A week to get sorted and put stuff from your loft up into the new loft 😆

I guess one good thing about this is its not long to wait now.

Just catching up on tons of posts after a busy few days at work.

Congratulations @WimbyAce . Great to see another MumsNetter over the exchange line.

It's our final weekend in our home of 20 years. We are out for our final goodbye dinner tonight with very good friends who we will miss a lot. Each goodbye meal has been harder than the last. We just hope people will come and visit and are glad we are moving to a popular visitor location as it might provide an extra incentive!

I am excited and nervous in equal measure. For the first time in 25 years, I will have my family within 90 minutes drive, instead of several hours away. But we only know 1 person in the town we are moving to, so will have to make new friends. Downloaded a free intro gym pass today for the local gym - it calls itself the friendliest gym in town - so hopefully it is as we will need friends lol.

Ticked most things off my spreadsheet now. Removals are doing the packing on Wednesday and I think most things left for us to do can't happen until close to the time.

I've got an insanely busy Monday and Tuesday, trying to fit a week's worth of meetings into 2 days so hoping not to have any last minute panics about anyway. Fortunately, my other half has got the entire week off so can run any last minute errands.

@Gekko21 , you seem a gregarious and nice person, judging by this thread, so you'll find your new tribe, I'm sure!

You know that Monday and Tuesday will now attract every single urgent property move question and query that only you can deal with just because you are so busy at work. It's the law.

Thank you. That's very kind @Abra1t . We are very open people who like to get involved in stuff and have hobbies so I expect we will make friends in time. Plus, we are moving back up north where people do like to start up conversations with strangers 😄.

We have had our completion statement and verified our bank details with the solicitor so hoping not to hear from her now until she rings to say we have completed on Thursday! For those talking about completion statements higher up the thread, we got our 5 working days prior to exchange and we exchanged a few weeks ago. I guess we will hear from removals about their arrival time for packing. We have many packets of chocolate digestives (which I've managed not to break into) and a big tub of instant coffee at the ready! I've just remembered though that we will probably need some sugar.

Definitely get some sugar in @Gekko21 the removals guys will need the energy!

@2025willbemytime I think sadly your vendor is relying on a new build developer and they are know for that shit. I wonder if they are heading towards the long stop date which means the developer absolutely has to exchange

@Limeandsoberi have small humans and I had to tell mine that we were buying the house she loved because the house was poorly ( this was the one we had to withdraw as it had substance)

I got mucked about a lot my by chain too, and I did get there in the end. I thought I was buying a chain free property and was top of the chain. Turns out my vendor had linked her sale to another property (found out on exchange as the EA swore blind no onward purchase) anyway that was what caused the delay but they were lying up and down the chain and causing havoc and we found out on exchange day. Bonkers really.

it will happen for you. It’s such an intense process, you aren’t alone you all still have time to get this through. Just be super kind to yourself.