Frustration!! Will we ever exchange?!

Vetyver

egoode wrote: »

Sorry to hear it's fallen through. I've been waiting 7 months since my offer was accepted and worried the same will happen to me. I've thought several times about pulling out but I'm trying to buy in London and there's not really many places on the market and what does come on the market goes really quickly and usually way above the asking price. I thought the sale would be really quick as it's chain free but they converted a loft with no planning permission and also forgot to buy the space from the freeholder. I've been told we are now just waiting on one more document before we can start moving forward.

I'm lucky that my first offer was accepted (I thought they would reject it) and the place was below my budget as I'm fully expecting them to ask for more money when we finally get closer to exchange I just hope it's not a crazy amount!

I wish you the best of luck, egoode - sounds like the same situation I was in. It all rests on whether the seller is 'a person of their word', I guess! Hang in there; let us know how it goes.

I was shocked to discover a hike of £50K in an almost identical property. The headline figures in the news never hit home as hard as when you see the actual real price differences up close.

Have now lost hope of finding anything this year

egoode

Vetyver wrote: »

Have now lost hope of finding anything this year

Sorry to hear that.

I'm hopeful it all works out for me as I've actually moved into the place and been renting it for the last month as I had to move and the place was empty. The previous tenets had moved out back in December.

The worst thing is I've just found out the sale is due to a divorce which according to the owner is going to be a really nasty one and his wife is going to get most of the money from the sale. I've been warned she's going to ask for a revaluation but know he would rather it just move forward at the agreed price but unfortunately it's not going to be up to him

pcuk1979

So my seller pulled out today.

God know what she wants for it, and the early introduction of Help to Buy didn't help.

These incessant 50k price rises really have to stop if the UK wants anyone under the age of 35 to actually get on in life.

cayennepepper

Sorry to hear that pcuk. How disappointing, hope you did not spend too much on searches and solicitors fees. Hope you can find something else soon! We are 2 weeks away from exchange and I understand how stressful it is.

Vetyver

Just popping back into this thread to say thanks for all the support - I've finally exchanged on a place!!

Admittedly, only after a major wobble: this morning, I found out that the original property I was originally buying (the one referred to at the start of this thread - Flat A) just came back on the market TODAY - just within my new, stretched, budget.

I was caught in an agonising dilemma because, shamefully, I'm still hung up on Flat A - it's still spacious, bright, in a perfect location and exactly where I envisage myself (plus I had 7 months of working myself up about it, believing I was moving in!). I guess you never forget your first love, eh?

But in the end, I figured that the seller is still the same total screwball who's happy to ignore enquiries for months, and leave a buyer hanging for 7 months before withdrawing on the day of exchange to remarket later at a higher price. Plus - my moneysaving head on - a modernised version of the exact same flat as my new one (just one floor above) was marketed at the same time last year, and sold for £30k more than the price I was paying for Flat A... so I must be making a better investment with my new purpose-built flat.

I'm glad that Flat A resurfaced on the day of exchange, because now I can finally know that I didn't 'miss out' on it: I made a considered decision not to buy it in favour for my new project. I can let go of the bitterness and focus on something that should, on paper, prove the better investment. In this case, head overrules heart.

Onwards and upwards!

makeyourdaddyproud

At least you can rest assured you're partaking in a rising market.