Who gets the final say in the chain?

Hannah_Lam

helping_hubby wrote: »

What's a £3k redemption? Sorry, I don't quite understand. Have you already exchanged with your buyer?

£3k redemption is for our current mortage which is 2 yrs fixed, if we don't exchange and complete on both sides (sale and purchase) I would have to pay the £3k upfront to my lender !! :mad:

helping_hubby

I'm really upset but there's nothing I can do.

We had a call from the Estate Agent passing on information that she got from Mr and Mrs so called top of chains solicitors.

They put an offer in on a house 3 WEEKS ago. They done their searches and are waiting for their mortgage offer!

I feel so angry because of all the lies. They must have deliberately told our sellers last week that they were going back to rented just to stop them from pulling out.

I fear our sellers are too soft and they've given them till Friday now. Seems they really really want the house.

The only bright side is the house they are buying is vacant, but to me this doesn't matter. As I've learnt things go wrong all the time. I have absolutely no faith that we'll ever complete. I hate them for what they've put us through, I feel like my life have been on complete hold for the last 6 weeks. Well not anymore, as last week I've stopped cancelling things. If I'm busy the weekend we're due to move I don't care anymore. I don't care about moving I don't care about the house I just don't care.

Does everyone start to feel like this when things like this happen?

KL62

well all i can say after reading everything in this post is that i feel utterly sick now!:eek: on the thursday before good friday we accepted an offer from a ftb and put an offer in on our dream house which was accepted ( they have yet to find a place to buy as they lost out on the place they had their eye on but they were looking at a property which looked "promising" yesturday) and i instructed our solicitors to start the ball rolling so to speak this morning and now after reading all this, the pennys just dropped as to what hell im going to have to live through for the next few months! Weve never sold and bought before ( as ftb on a new build a few years ago there wasnt any of this chain business) so really ive been naive in thinking it will all be sorted in the next 8 weeks. Oh god i wished i hadnt bothered now!:rolleyes:

helping_hubby

KL62 wrote: »

well all i can say after reading everything in this post is that i feel utterly sick now!:eek: on the thursday before good friday we accepted an offer from a ftb and put an offer in on our dream house which was accepted ( they have yet to find a place to buy as they lost out on the place they had their eye on but they were looking at a property which looked "promising" yesturday) and i instructed our solicitors to start the ball rolling so to speak this morning and now after reading all this, the pennys just dropped as to what hell im going to have to live through for the next few months! Weve never sold and bought before ( as ftb on a new build a few years ago there wasnt any of this chain business) so really ive been naive in thinking it will all be sorted in the next 8 weeks. Oh god i wished i hadnt bothered now!:rolleyes:

Oh I hope everything goes OK for you. The main thing is to keep in touch with everyone so everyone knows where everyones at I think if the people at the top of the chain had told the truth from the start then I wouldn't feel so crap about it now. We've just lost any trust in them and can't believe a word they say. What if they are telling porkies about the house they're buying being vacant? It doesn't bear thinking about.

Doozergirl

helping_hubby wrote: »

Well not anymore, as last week I've stopped cancelling things. If I'm busy the weekend we're due to move I don't care anymore. I don't care about moving I don't care about the house I just don't care.

Does everyone start to feel like this when things like this happen?

I'm genuinely really sorry

But, I promise, once you get to this point, you're on the home run; nothing phases you anymore, the house slips to the background and you continue to live your life as you normally would...until you get the call that everyone is ready for exchange, at which point you actually decide when is suitable to do so.

Really, it is the attitude that anyone needs to take towards the whole process to ever get through it relatively unscathed!

The sparkle will have been taken off the house for you right now but I also promise that once you get in there, all of this will be instantly forgotten. Make your plans, book your holidays and fit the move around you

KL62

HH i really feel anxious for you, it is like you say unbearable. The FTBers parents rang us over the weekend to say they were overseeing their daughters mortgage so that there would be no problems with monies etc and gave us his phone number and asked for ours so if anything was said between EA and solicitors we could call eachother to confirm what was said, as he actually put it " things that they tell us arent always matter of fact". And then we went round to see the people were buying off on sunday and had a chat with them face to face and exchanged numbers there and said the same more or less that wed keep in touch with any news from any side from EA and solicitor so we all knew where we stood. They are actually looking for houses in particular with no chain which are vacant so i think were all hoping that the amoutn of people in our chain can be kept to a bare minimum. So i suppose ive done all i can up to now to keep things under control from my point. I really hope you get sorted soon and keep us posted as from what ive read on here everyones wishing you well..me too.:D

helping_hubby

Myself and OH have been talking and also been talking to my parents (who are funding some of the house) and we've decided to pull out of the sale if we don't exchange by the 8th June. Our mortgage expires on the 30th June and we feel that the 8th June is plenty of time for Mr and Mrs Top of Chain But Not Top Anymore to sort themselves out. And we feel that if they can't exchange by then, then when are they going to exchange?

I know we will lose some money by pulling out, but the stress and arguments it's causing isn't worth it. I'd rather cut our losses and start again. Yes it is a perfect house and yes we really love it and want it, but there will be other 'perfect' houses. I just want this nightmare to be over with one way or another.

chrisxr2

I love the way that only one person involved in the selling of your or in fact any house that requires no formal qualifications and laso tskes away the most profit at the end is the estate agent. Ring the estate agent again, and again till you get a proper answer or do the searching yourself and speak to people directly if it really comes to it.

Doozergirl

I think eight weeks is entirely realistic to get to exchange on a freehold property with no chain.

Roll on 8th June! (and here's hoping you might even be in on that day, nevermind exchange )

helping_hubby

Argh, I don't believe it...

Mr and Mrs top of chain have pulled out of the house they were buying and are now buying another house!! Supposedly end of chain, but who knows?

The odds of exchanging before 8th June are very slim now. What do you think? It's 7 weeks away, and I assume they have to do their searches again, survey and mortgage application. And judging on their past history they'll pull out and go for another house in a few weeks.

Sadly, I think I've resigned to the fact that this house isn't going to happen.