The nervous wait to exchange....

Man of Honour
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24 Sep 2005
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35,487
After two days of agonising.... wife and I are now agreed on a price... will put that in and should know the outcome by tomorrow.

It is sort of interesting looking at last years prices and seeing the jump. All I know is that substantially over £20k wasn’t enough to get us unicorn 1... so asking prices are rather a rough low guide and last years prices amid brexit anxiety and pre-COVID and just completely ‘unhelpful’.

Hmmgh!!!

Just best not to overthink it... like all things, or you tie yourself up in knots.
 
Man of Honour
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25 Oct 2002
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Hampshire
It is so odd people necessitating relatively low value replaceable items (e.g. Dining table) for a house sale :D
Our first house which was vacant following a rental we didn't stipulate anything but we were hoping they would live this huge mirrored wardrobe in the master bedroom. It was so big you'd have to dismantle it to get it out of the room. Thankfully it was left behind along with a large corner desk that I'm still using in our current home (did have to be dismantled and re-assembled mind!).
 
Soldato
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4 Feb 2003
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West Midlands
Now waiting on a redemption certificate from our seller, only thing to hold the chain now. Hope it doesn’t delay the completion this Friday. Why this was not asked for weeks ago god knows.
 
Soldato
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We got asked by the vendor if we wanted his piano, said no but long and behold it's still there when we arrive. Along with loads of board games, VHS tapes etc in the attic. Managed to sell the piano for £100 but it was a nightmare to get out!
 
Soldato
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Glasgow
Offer number 3 in... 10% over, but it's £100k cheaper than other ones we've offered on. The benefit is, I can keep my flat I rent out and we have £50k to do it up to our specification which is exciting. However, on the flip side if we don't get it I won't be that disheartened. It's shown us that we'd be happy in a cheaper house without a huge amount of kerb appeal if the inside and back garden is right.

SHould find out this afternoon. Hopefully this one doesn't have 23 offers!
 
Soldato
Joined
5 Mar 2010
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12,305
Still no news!

We opted to just offer the money off, as losing the sale, would likely mean we'd lose more than the reduction - but nothing..... it's as if we've offered it to a brick wall; as zero progress has been made.

It seems like an endless stream of calls to our Estate Agent and Solicitor now, trying to chase for progress - all the while, my Wife is nearing her due date, and the people we are buying from, are being told they might lose their next house!!

I really wanted to make leaving our first home a bit special to the FTB's, leave them a nice card, a bottle of something and some glasses (the Wife hated) - but I'm tempted to poo in all the toilets and leave them festering now.

Don't think I have ever felt so helpless and out of control of something...

Yeah unfortunately people can really take the ****.

I try and look at it in the sense that they too would have already paid out for searches + solicitors time to date (unless they've gone for a no purchase/no fee type solicitor but my understanding is that these are quite expensive, and don't preclude you from still having to pay for the searches), they would have also paid a good few hundred out for home buyers report, and i suspect a similar cost for an independent electricians report. So they must be well in excess of losing £1000-1500 if they suddenly decide to pull out.
 
Soldato
Joined
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6,113
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Nottingham
Some advice please guys. We have had an email from the estate agents saying that the sellers would like to exchange today. We have already signed our part of the contract and sent it back to our solicitor. The sellers are now wanting us to transfer our deposit to our solicitors so they can then have it on file so they can proceed with the exchange on the house they are buying. We have all agreed a completion date of October 19th. However I rang the solicitors and they have said due to covid they are not doing the exchange until the day before completion, does this sound right to you as I think it will throw a spanner in the works, are we able to tell the solicitor to do it now or is there some risk we are unaware of?
 
Soldato
Joined
9 Mar 2003
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14,056
You should speak to your own solicitor.
Estate agents don’t have any say in exchange and completion dates, they are just likely trying to move the sale on on behalf of their client. The solicitors should be organising the exchange and completion date between them (with your input of course).
 
Soldato
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9 Mar 2003
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14,056
I should add that solicitors a nervous about leaving gaps between exchange and completion because of COVID. If someone has to self isolate and can’t move they may fail to complete and have to pay costs.
 
Soldato
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Nottingham
I should add that solicitors a nervous about leaving gaps between exchange and completion because of COVID. If someone has to self isolate and can’t move they may fail to complete and have to pay costs.

I'm waiting for them to contact me. We have been passed to another conveyonsor who deals in compilations. I've read up on it and you are right, there are a lot of risks beyond our control which could mean we lose our deposit and given the current status of covid it makes sense to do it as close to completion as possible.
 
Soldato
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18 Oct 2002
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13,997
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Sandwich, Kent
Some advice please guys. We have had an email from the estate agents saying that the sellers would like to exchange today. We have already signed our part of the contract and sent it back to our solicitor. The sellers are now wanting us to transfer our deposit to our solicitors so they can then have it on file so they can proceed with the exchange on the house they are buying. We have all agreed a completion date of October 19th. However I rang the solicitors and they have said due to covid they are not doing the exchange until the day before completion, does this sound right to you as I think it will throw a spanner in the works, are we able to tell the solicitor to do it now or is there some risk we are unaware of?
Are you ready to exchange? Sounds a bit last notice - however if the estate agent is chasing - I expect your solicitor has been stalling behind everyone else in this process (unbeknown to you).

Having recently been on the other end of it and having to wait two months after the date we'd all agreed to move by because the buyers solicitor took ages to complete anything - then only to find that the buyers themselves were equally frustrated by the delays - I can well understand the estate agent chasing.

When you exchange, you set a date in stone - and any changes to that date will incur financial penalties. Hence why they're hesitant to do it. However, organising removals isn't an overnight process either.
 
Caporegime
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Nordfriesland, Germany
We got asked by the vendor if we wanted his piano, said no but long and behold it's still there when we arrive. Along with loads of board games, VHS tapes etc in the attic. Managed to sell the piano for £100 but it was a nightmare to get out!

Technically you can sue for this stuff, but no-one who isn't a total bell-end does unless it's completely ridiculous.

Pianos cost extra to move which is probably why he couldn't be bothered with it.
 
Soldato
Joined
17 Jun 2012
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9,852
Location
South Wales
Technically you can sue for this stuff, but no-one who isn't a total bell-end does unless it's completely ridiculous.

Pianos cost extra to move which is probably why he couldn't be bothered with it.

Yeah but as we found a load of unopened 'final notice' on top of the fridge and the 3 charges on the house we would be at the back of a very long queue. :p
 
Soldato
Joined
28 Jan 2008
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Manchester
I should add that solicitors a nervous about leaving gaps between exchange and completion because of COVID. If someone has to self isolate and can’t move they may fail to complete and have to pay costs.

We exchanged and completed on our sale last Friday. It was the worst but I can see how it reduces the risk. The only reason it happened on the same day was my bank took longer to provide redemption statement.
 
Man of Honour
Joined
24 Sep 2005
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35,487
Not that anyone cares, but I didn’t get unicorn 2. Lost it to yet another ****ing cash buyer with no chain!!! Wtf!! Where are these millionaires coming from.

I bid over £40k over asking ffs.
 
Soldato
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26 Feb 2007
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Leafy Cheshire
Not that anyone cares, but I didn’t get unicorn 2. Lost it to yet another ****ing cash buyer with no chain!!! Wtf!! Where are these millionaires coming from.

I bid over £40k over asking ffs.

I don't know where you are, but for us people are going nuts selling flats and apartments for gardens and home offices. There was a huge rush on ours as soon as it went on, and we got well over asking also. We're 15 minutes from the centre of Manchester, and they were almost all people who now work from home and want gardens.

Sorry that's happened. There's no easy way forward. We're going to rent to give us time to find the right place to buy and to break this chain on ours. Not everyone has that choice though.
 
Man of Honour
Joined
24 Sep 2005
Posts
35,487
I don't know where you are, but for us people are going nuts selling flats and apartments for gardens and home offices. There was a huge rush on ours as soon as it went on, and we got well over asking also. We're 15 minutes from the centre of Manchester, and they were almost all people who now work from home and want gardens.

Sorry that's happened. There's no easy way forward. We're going to rent to give us time to find the right place to buy and to break this chain on ours. Not everyone has that choice though.
Cheers for the kind words. We may well go inti rental since we have someone lined up to buy ours :[
 
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