Hi Guys

lostfarmer

Hell of a first thread, but I've been reading / lurking for a while and really would appreciate some advice...

Story is this... own own business, wanting to relocate house and business to north wales...

Sold house (over asking yay!) and offer accepted on great property (March 30th)

Told completion likely mid / end may therefore gave up lease on business premises end may..

100000 silly problems with our buyers- chain is us (moving to empty house), them and their buyers (FTB)... problems for example included solicitor losing cheque for searches, them hand delivering another one (two weeks later) and not being told they wait 7 days for money to clear before starting!!! Generally slow and don't chase...

End of May came and went with much frustration... sorted out our buyers to find FTB 'forgot' to arrange mortgage... Decided to stick with chain as all was in hand..

June has been a nightmare of complications- FTB giving wrong CC details so not actually arranging mortgage... both incapable of chasing or giving any sense of ungency to move... all the time I'm losing money as I can't run my business effectively on a shared dial up connection..

Finally argreed exchange and completion- completion for 30th June, exchange before this (couldn't do it seperately as FTB didn't have documentation early enough..

Heard on the 29th at 11am FTB didn't have copy of NHBC cert and Sec 106 agreement and would exchange without.. got them for them (by hook or by crook)... then demanded original planning cert (not for our house- 2 steps down chain.. however) we got this for them.. grrr... So now can we exchange?

NO! our buyers have a high risk mortgage and therefore mortage company have appointed own sol- got to start all enquiries again... AAAARGH!

Has anyone experienced something similar? How long do these enquiries tend to take? and have we any come back regarding general upheaval? Our buyers solicitor lied to our solicitor regarding drawing monies this week for completion to name but one confirmed lie...

Please help me! Sorry this is so long... believe me I've actually tried to summarise!!!

Thanks people,

xx

silvercar

We have had similar horror stories. You wonder why people who hold down successful jobs and are presentable people can't get the basics right in moving house.

We also ended up holding the hand of everyone in the chain in order to keep things together.

In the end it will happen, at least if your in control problems get ironed out rather than no-one taking any action.

lostfarmer

thanks- it's good to know it's not just us!

the whole process is just so mad and LONG! You are right though, I think we know we will get there in the end, it's just the days of living and working in boxes that are wearing!

Really appreciate your reply,

xx

aloiseb

It's probably because they are presentable people with presentable jobs that they have a problem. If (like us) they have a presentable job or two each, plus a few kids and their activities to sort out, the wonder is that they have got time to fill in any of the paperwork at all. I know we have had big problems - e.g. all the legal papers seemed to coincide with urgent major report writing for work - and we have burnt a lot of midnight oil. Now we're too exhausted to do any packing!

SnowyOwl_2

It's not just you I promise!!

I had a nightmare one too...was selling to a first time buyer - not a problem with that. However I was buying from someone who was on the brink of repossession. It took eight months for that to go through. It was so stressful, specially as the FTB was snapping at my heels and threatening to pull out. I originally had a buyer but he must have been vaporised or beamed up as he disappeared without trace and of course that wasted everybody's time. It took a total of 13 months between putting my place on the market and moving into the new place. What a nightmare.

Next move involved a new build house and moving from England to N.Ireland. I was promised the new house would be ready that January. So I drove off the boat and went to have a look to discover that the flipping foundations weren't even dug. I was fobbed off by the builders that it'd be ready in March. Then early April. Then definitely May. Ha ha. The house was six months later than the original promise, and I was in a rented room (with almost all my possessions in boxes piled up around the bed) and pets in kennels at the rate of £10 per night. Oh and I was unemployed for about half that time. Ended up on anti-depressants through the stress.

So, I am thinking of moving again, back to England, during the next 12 months.

Sorry, can't actually help you with your query lostfarmer, but just wanted to reassure you that this stress, chaos and incompetence when moving house is perfectly normal. Don't take it personally.

Ems*Honie

aloiseb wrote:

It's probably because they are presentable people with presentable jobs that they have a problem. If (like us) they have a presentable job or two each, plus a few kids and their activities to sort out, the wonder is that they have got time to fill in any of the paperwork at all. I know we have had big problems - e.g. all the legal papers seemed to coincide with urgent major report writing for work - and we have burnt a lot of midnight oil. Now we're too exhausted to do any packing!

I agree with this, although our situation is differant, I have been organising two mortgages plus all the insurances, and there is no way it could have proceeded without hitch had I not been a stay at home mum. (Although I have to disagree with the implication you are only presentable if you both go out to work )

I hope you do get to completion soon

lostfarmer

Thanks everyone! I am feeling a lot calmer about everything today, it really helps to know it's not just us!

I don't suppose anyone has had involvement with selling to someone with a high risk mortgage? Just trying to work out how long the mortgage company solicitors are going to take to 'make their investigations' prior to us being able to exchange? Everything else is in place...

Thanks very much

xx

silvercar

Generally, solicitors appointed by mortgage companies are geared up on conveyancing work so they will work quite quickly. That said they will be waiting on searches etc and liaising with the sellers solicitor like anyone else would.

I do wonder if you have been given the whole truth. Surely the mortgage company would have said on receiving the application whether the buyer's solicitor was acceptable to them or not. What is a high risk mortgage? Presumably its the buyer that is risky not the house, so that would mean extensive credit checks etc but I'm surprised it affects conveyancing. Unless its a sub-prime lender who makes a bit more money by only using their own solicitors.

lostfarmer

Thanks for the response Silvercar!

Not too sure whether we've recieved the whole truth- we hadn't heard anything about the mortgage companies solicitor until Friday afternoon. Our buyers have a mortgage in place and signed for so i really don't understand why this has just come up. I guess they have completed all credit checks etc already otherwise I'm sure they wouldn't have been able to sign mortgage papers etc.

My solicitor (who is brilliant) got the impression that the mortgage solicitor hasn't even started collating info as yet, but surely our solicitor or their solicitor can forward through all searches etc? I just don't know!

Any more thoughts would be really appreciated,

Thanks to all,

xx

Dora_the_Explorer_5

There are so many people responsible for each part of a chain but no-one who acts as chain manager. Seems to me there's a business opportunity here.

silvercar

Dora_the_Explorer wrote:

There are so many people responsible for each part of a chain but no-one who acts as chain manager. Seems to me there's a business opportunity here.

One of the points my estate agent made months ago was that he keeps checking on the progress of the chain to make sure things run smoothly. At the time I thought it was just talk but he did live up to his word.