Continuation of our tale of woe:
Exchanged Monday 27th for Completion 29th with our buyers and vendors. Buyers solicitor emails this morning after I'd dropped the toddler off with my parents 20 miles away, cancelled the BB and set it up on the new place for completion day, paid for Royal Mail Redirection, booked a Luton van - that they cannot complete tomorrow by the clients request. That went down like a ton of bricks, as its a housing association buyer we expect it's due money shifting shenanigans, as last week they were trying to negotiate October 8th but at last minute agreed to exchange on the 27th for completion on the 29th.
All contact with the buyers solicitor got stonewalled, wont answer emails, phone calls from our solicitor or estate agent. Our solicitor has already drawn funds today from our new mortgage in preparation also.
Managed to cancel the van hire without charge (I was very lucky with this), managed to get the broadband move cancelled and get reconnected back at our old property (Virgin Media), had to send a cancellation form to Royal Mail - no idea if we'll get the money back for this and pick up the toddler after her 3 day visit got cut short by all this mess.
Expecting a notice of completion will be served by our solicitor on to our buyer, we will get one from our vendor. Expecting the buyer to actually complete on the 8th October - they just seem to be buying time/shuffling funds, which means we are probably liable for interest charges and £700 SDLT. Top class day, not.
Our solicitor has said in her 40 years doing the job, only 2 property sales have failed completion like this, ours is the 3rd, lucky us.
Had you actually exchanged contracts at that point on Monday? If so, the vendor will be liable for any incurred costs and breaching the agreement of the contract if it was written to complete today
Just renegotiated our purchase price down by £5k after our building survey, we initially offered £5k over to secure it so we are back at the original price ha. We wanted £10k off but they said meet in the middle, as we really want the house we agreed.
Hoping it's a quick process now, lenders have been made aware and sent a revised letter, contract is with our conveyancers and I think we've given them everything they needed. Not sure what else they are waiting for now.
The amount spent on solicitors means absolutely nothing. Cost =/= competence in this game.We get our keys tomorrow, very excited.
It seems like it has taken ages but we first viewed the house in July and put an offer in immediately, so compared to some we have been very lucky, it really does pay to spend a little more on solicitors! Also helped that the house has been empty for months and we are first time buyers so nothing to sell.
My mate purchased the flat he has been living in for 10+ years earlier this year and that took 13 months to go through with the cheapest sols he could find.
The amount spent on solicitors means absolutely nothing. Cost =/= competence in this game.
Most just take on too much work, the margins are not great on basic Conveyancing so it is all about quantity. The last month seems to have been utterly bonkers with the stamp duty ‘holiday’ finally ending we haven’t been able to get much if anything out of our solicitors or mortgage providers as we were are not due to complete until the end on October so got shoved in the back burner!Possibly not, all I know is the other side went with the cheapest sols in Leeds and it took them over a month to spell my name correctly on the contract. That alone, according to our solicitor, delayed us getting the keys by at least a week. There were quite a few other problems with them too.
They're the same firm my mate went with in my initial comment too, he said they were useless.
Had a viewing last week, the viewing was with the vendors themselves rather than an agent which was nice. Good chat, talked us through everything about the house and all the renovations that have been done etc.
Anyway we were upfront and told them we were planning to make an offer, sent it though to the agents and got an acceptance today. So, now we're getting the mortgage/solicitors process started. First time through this all so very exciting while also feeling like a shed load of work!
And this is why you don't get too attached. Sellers have pulled out, deciding that they're going to stay put.
I can't wait to tell my wife...
This must be a terrible time to buy a house. So glad we got ours last year before all this madness started. I fear that in a few years people are going to really regret overpaying so much for their houses.