The nervous wait to exchange....
- Thread starter noj
- Start date
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!
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
I've had some choice words to describe him that I cannot utter here
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
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- 41
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- 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.......................
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.......................
CongratulationsWoo, 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
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?
We're not moving for another few weeks.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
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- 19,893
- 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.
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
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.
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
- 25 Mar 2004
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- 15,991
- Location
- Fareham
Just sleep on the mattress, have shower essentials and a change of clothes ready, not like you need much if just sleeping at home for 1 night.
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.
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.
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.
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.
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.
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.
Quick question. What is a reasonable amount of time to give a vendor for an answer to your offer? I’ve offered asking price for the house, in cash.
This was on Tuesday last week. I’ve contacted the agent for updates, but the lady I’m dealing with fails to return calls, and is being very scarce and all I get is she’s waiting for the vendor to respond.
Maybe I’m being impatient but I have this worry that someone may gazzump us in offering the vendor more for the house.
This was on Tuesday last week. I’ve contacted the agent for updates, but the lady I’m dealing with fails to return calls, and is being very scarce and all I get is she’s waiting for the vendor to respond.
Maybe I’m being impatient but I have this worry that someone may gazzump us in offering the vendor more for the house.