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buying and selling at the same time - worse than the doctor's waiting room
Full_of_angst
Posts: 116 Forumite
Hi all, this will be a very familiar thread and I hope others who are going through it, thinking of going through or have gone through it will post to share their wisdom and experience.
I accepted an offer on the sale of my house on 21 May. At the same time the EA told me the buyers were hoping to compete late August/early September. I asked for mid to late September as I have a disabled son and this would be a better time for him.
I quickly found a house I wanted to buy and had an offer accepted on that.
2 weeks after accepting the offer on my house the buyers asked (via the EA if we could push to complete on or before 1st August as they had to be out of their rental. I agreed to this as my vendor was in no onward chain.
I ensured my vendor and my solicitor were all on board with aiming for this earlier completion date.
My buyers took 4 weeks to inform the EA of their solicitors. They commissioned their own building survey but this was not carried out until 3rd July (just over 6 weeks after they put their offer in).
Since then absolutely nothing has happened. I know my solicitor sent contracts to the buyers' solicitor on 26 June so it may well be that they haven't yet had their searches back yet. However, both the EA and my solicitor has contacted their solicitor in the past week and had no response.
I know in the great scheme of things I haven't been waiting long, but it seems that for people who were keen to complete early they haven't exactly been proactive in helping things along and all the delays have come from them.
I keep thinking 'no news is good news', but can't help expecting a call any day from the EA to tell me they are pulling out. I have no reason to think they will (surveyor really liked the house and said he would be ringing them up to give them the headlines and tell them 'they'd got them selves a really nice house' and that he'd be writing up his report the very next day - which would be 4th July).
Paranoid is an understatement and extremely stressed and anxious! Now that I have been focussed on the 1 August as possible completion I've completely emotionally switched off from my house so it no longer feels like home. I just want to move.
I accepted an offer on the sale of my house on 21 May. At the same time the EA told me the buyers were hoping to compete late August/early September. I asked for mid to late September as I have a disabled son and this would be a better time for him.
I quickly found a house I wanted to buy and had an offer accepted on that.
2 weeks after accepting the offer on my house the buyers asked (via the EA if we could push to complete on or before 1st August as they had to be out of their rental. I agreed to this as my vendor was in no onward chain.
I ensured my vendor and my solicitor were all on board with aiming for this earlier completion date.
My buyers took 4 weeks to inform the EA of their solicitors. They commissioned their own building survey but this was not carried out until 3rd July (just over 6 weeks after they put their offer in).
Since then absolutely nothing has happened. I know my solicitor sent contracts to the buyers' solicitor on 26 June so it may well be that they haven't yet had their searches back yet. However, both the EA and my solicitor has contacted their solicitor in the past week and had no response.
I know in the great scheme of things I haven't been waiting long, but it seems that for people who were keen to complete early they haven't exactly been proactive in helping things along and all the delays have come from them.
I keep thinking 'no news is good news', but can't help expecting a call any day from the EA to tell me they are pulling out. I have no reason to think they will (surveyor really liked the house and said he would be ringing them up to give them the headlines and tell them 'they'd got them selves a really nice house' and that he'd be writing up his report the very next day - which would be 4th July).
Paranoid is an understatement and extremely stressed and anxious! Now that I have been focussed on the 1 August as possible completion I've completely emotionally switched off from my house so it no longer feels like home. I just want to move.
Experience is simply the name we give our mistakes (Oscar Wilde)
If you tell the truth, you don't have to remember anything (Mark Twain)
If you tell the truth, you don't have to remember anything (Mark Twain)
0
Comments
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I'm afraid you have to accept that until Exchange of Contracts no date is anything more than a wish.
Property sales always take longer than you want, for reasons that you don't anticipate.0 -
I do sympathise OP, but hopefully everything will suddenly come together and be back on track. If it's any consolation, when we were buying and selling last time (a couple of years ago) our buyers stated from the outset that they had a particular week in mind for completion as their buyers (second in the chain) had a holiday booked and were applying pressure on them.......
We felt hugely pressurised to find a house quickly - moving 200 miles to a new area - and did so within a couple of weeks. However, it was more than five weeks before our buyers had their survey carried out and we started to panic thinking the worst
In the end it all worked out ok and once the survey was done things moved swiftly towards completion - which did take place during the week originally mooted
Don't panic - chances are it will all still come good
Mortgage-free for fourteen years!
Over £40,000 mis-sold PPI reclaimed0 -
I'm in the same position. It's the first time we have bought and sold at the same time. Our buyer is a FTB and was really eager to get things moving once we accepted their offer. We found a place within two weeks and our vendor has agreed to move in with family. It's all gone very quiet and I started to think the worse but have just found out that the survey on our place is booked in for the 10 th August, that 7 weeks after we accepted the offer:(. We live in London and the market has gone mad( sold ours in three days at FAP ) and this is causing a delay in surveys being carried out. The waiting is stressing me out as the longer we wait to exchange the more chance people have to pull out. We know have to wait weeks to get the survey carried out on the property we are buying. I'm not sure my ticker can take it !.
Good luck with your purchase and sale I'm sure it will come good in the end.0
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