The nervous wait to exchange....

Soldato
Joined
30 Sep 2008
Posts
6,769
Just had our seller pull out the day after my surveyor attended to produce a Home Buyers report. Leaves me down a couple of grand in fee's accrued to date.

Back to the drawing board, search begins again.

Think it'll be tough to beat this one, was by far most spacious place we've seen for the budget. Sigh.
 
Soldato
Joined
30 Sep 2008
Posts
6,769
She was selling due to health reasons and a second opinion leads her to believe her arthritis isn't as bad a she was first told. She now plans to stay in the property another 2 or 3 years.
 
Pet Northerner
Don
Joined
29 Jul 2006
Posts
8,025
Location
Newcastle, UK
Had a knock back this week.

Turns out my buyer hasn't instructed on his sale and his buyer has pulled the plug, so he's no longer proceedable. My seller is losing patience as it's a builder who is using the house I'm trying to buy as collateral.

I've had a new offer on my house today, but 4k less - probably going to eat the loss as I really want the chain above me to hold!

6 weeks of waiting wasted!
 
Don
Joined
24 Feb 2004
Posts
11,879
Location
-
Had a knock back this week.

Turns out my buyer hasn't instructed on his sale and his buyer has pulled the plug, so he's no longer proceedable. My seller is losing patience as it's a builder who is using the house I'm trying to buy as collateral.

I've had a new offer on my house today, but 4k less - probably going to eat the loss as I really want the chain above me to hold!

6 weeks of waiting wasted!

How the hell hasn't he instructed in 6 weeks :eek:
 
Man of Honour
Joined
20 Sep 2006
Posts
33,895
She was selling due to health reasons and a second opinion leads her to believe her arthritis isn't as bad a she was first told. She now plans to stay in the property another 2 or 3 years.
Ah, I misread sorry. I'd read it that she had a survey done on your house and she immediately pulled out. Frustrating situation to be in, keep positive though it'll pan out. It's been 11 months since my house went on the market and we're moving next week.
 
Associate
Joined
3 Jun 2021
Posts
41
Location
Wales
Another day, another thread discovered with people sharing my woes.

Today's stroke of solicitor genius:

Called them to ask what the hold-up was, we're 9 weeks(ish) ina nd had radio silence for a lot of it. Solicitor advises they're waiting on info back from Target regarding my Help2Buy Loan (I took one out way back when I bought the place I'm selling, and the loan gets paiud back when I sell). Except... I live in Wales. Meaning that I have a loan from Help2BuyWALES. With whom "Target" have precisely nothing to do.... they only handle H2B England. So in short, my solicitor has been "waiting" for information from completely the wrong entity, and it took me to point this out to them.

FFFFFFFFFFFFFFFFFFFFFFFFFF.......................
 
Soldato
Joined
20 Oct 2002
Posts
17,854
Location
London
Woo, completed on sale and purchase this morning! Removals people just finishing up the packing now so we can stop being squatters in our old flat :D
Congratulations :)

We're completing on Monday so have been spending the week handing over our life savings to our solicitor in preparation :(

Wondering what else we should be doing on the day when we (hopefully!) get the keys? Beyond checking everything is in working order, taking meter readings etc? :confused: We're not moving for another few weeks.
 
Soldato
Joined
9 Nov 2008
Posts
7,081
Going to view a house on Monday and the owner will be showing us around. Is it acceptable to make offer with the owner or should negotiations go through the estate agents only?

Deal with the EA IMO. They will still be getting their commission regardless of who you deal with and will probably have told the seller to direct any sales related Qs to them. The only thing I'd be looking to do (If I was very interested and preparing to make an offer) is make a good impression on the seller (We're a young family, looking to find a lovely home etc....) and try to work out their circumstances - selling due to a divorce will mean negotiations will be harder and there could be problems with dealing with 2 parties not on the best of terms compared with an old couple downsizing to a retirement flat.

Make them want to sell you the house so when the offer comes via the EA they want to accept it.
 
Soldato
Joined
3 Oct 2009
Posts
19,892
Location
Wales
Hope everyone that wants to get through before the end of June does.

I'll be working 70+ hours this week in an effort to try get a few extra people through if last week was anything to go by. Still got around 20 exchanges pencilled in for completions by the 30th. Bearing in mind 20 would be a normal amount for a whole month...!

It's been a rough month, would be nice if people could appreciate what their solicitors/conveyancers are going through at the moment especially those that are going to be saving significant amounts in stamp duty despite starting the process with very optimistic turnaround times.
 
Associate
Joined
13 Jan 2018
Posts
1,222
Good luck to all - completed on Thurs and pretty much all in now. Was last in chain and paid for key waiver which was god send as key was late. Just got gaming pc to set up now :cool:
 
Associate
Joined
13 Jan 2018
Posts
1,222
Hope everyone that wants to get through before the end of June does.

I'll be working 70+ hours this week in an effort to try get a few extra people through if last week was anything to go by. Still got around 20 exchanges pencilled in for completions by the 30th. Bearing in mind 20 would be a normal amount for a whole month...!

It's been a rough month, would be nice if people could appreciate what their solicitors/conveyancers are going through at the moment especially those that are going to be saving significant amounts in stamp duty despite starting the process with very optimistic turnaround times.
I agree that solicitors have been working really hard and our one has been great. But I would say they have all made hay while the sun shines during this period and taken on more work than they can cope with. Hope things ease up for you soon
 
Don
Joined
24 Feb 2004
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11,879
Location
-
I agree that solicitors have been working really hard and our one has been great. But I would say they have all made hay while the sun shines during this period and taken on more work than they can cope with. Hope things ease up for you soon

I think this is true. Our solicitors have been excellent, my buyers solicitor not so much. They went complete radio silence for 3 weeks, in the middle of the process and didn't send any documentation to his buyer until 6 weeks after they were instructed, which then resulted in further inquiries and delays.

On the other hand, mine have been excellent and kept me up to date a couple of times a week.
 
Man of Honour
Joined
20 Sep 2006
Posts
33,895
We are completing on Thursday, self packing but movers will be here at 9am to load up their Lutons. There's a Premier Inn around the corner for £40 a night, is it worth finishing packing absolutely everything on Wednesday and stay there, get breakfast early and arrive at the house with everything ready, or sleep on a mattress on the floor and have an overnight bag and maybe order a Greggs for breakfast? I'm figuring the Premier Inn route gives us one less thing to worry about. The £40 pales into insignificance compared to the cost of the move so I'm not even factoring that, I just want what'll be the easiest option.
 
Soldato
Joined
9 Mar 2003
Posts
14,059
No, just stay at home because you’ll be up late doing the final prep anyway and then up early again doing the final prep you didn’t finish the night before.

Rolling up a duvet and sheet and chucking it in a black bag in the morning isn’t going to add any time in reality.
 

Dup

Dup

Soldato
Joined
10 Mar 2006
Posts
11,225
Location
East Lancs
Anyone had experiences with equity and insolvency?

Very long story short I'm selling a house joint owned by myself and an ex. No chain either way, I live in a rented place with my family, just want rid of the damn thing. I've put in a lot of money to get it saleable and out of negative equity and ended up being in a position of earning some equity (about 10k once fees and solicitor are accounted for) despite not finishing it.

Anyway, my ex has had nothing to do with it for 7 years while I've been stuck with it sat empty getting it sorted. She is making zero claim to any equity as she has contributed nothing in that time and now it turns out there is a blocker on the deeds due to her being in an insolvency agreement. My solicitor is handling it of course and I've had to state my case with figures as to why I should get all the equity and that's being sent to the insolvency agent.

Anyone come up against this? This house has been an abolsute nightmare for years and years and is holding back my families future, I'm at a point where it's worth giving money away to them as it's costing me £500 a month to sit there unoccupied, but it would also leave a very very sour tase in my mouth if they just swallowed up that money into a debt that wasn't even mine.

Moral of the story is, don't move out from your home becasue your ex cheated then let her sit on the house not resolving anything for years until you're trapped in the mortgage with no recourse. Especially when she eventually abandons it with arrears to pay off to rub salt in the wound.
 
Soldato
Joined
7 Nov 2009
Posts
19,798
Location
Glasgow
Offer accepted, only 11% over the valuation this time so a big saving compared to the previous house. I've spent all day yesterday on kitchen design websites as I'm being allowed to fit a new one and there is plenty money left in the budget.

Hoping her buyer is still happy to wait (we pulled out of the previous purchase otherwise everyone would have moved by now). This house isn't in as good an area, but it's much bigger and a lot cheaper. Going for a 14 year mortgage rather than a 20 on the house before and the monthlies are the same with a lot less cash upfront.
 
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