Could it be falling apart!!1 Private Sale?

Trumsiz123

Hi all!
I need some advice / support!
Story so far:
We are FTBs.
Offer accepted March 13th.
Needed to wait for the final link in the chain to find a house.
5 weeks ago, final chain found a house but there was probate stuff to sort out!
waited.....waited....waited...EA constantly telling us we'll have news nxt week, then next week, and so on....waited.....

Friday we rang the vendors we're buying from.
Their mortgage app runs out middle of Aug. Ours runs out Sept..so we're running out of time. They've been looking at other properties and may pull out. They don't want to lose us, they may go into rented accomodation. The house they're moving too is also thinking of pulling out!!!

They mentioned a private sale between us...is that possible? Won't there be some legalitites?

I'm panicing now...if it all goes wrong we
a) lose the place we want
b) waste money on Sol. fees
c) not be able to get such good deal on a mortgage cos interests rates have gone up

.....= less money for deposit, less afforable mortgage, no where we like that we can afford now, won't be able to get on the ladder,

We're going to go in to the EA tomorrow and hopefully lay it on the line, but what's the best tactic!!!
help!

cats!

Hi Trumsiz123!

Welcome to the warped and twisted world of house-buying!

Sorry you've had such a nightmare as FTB's. I think you've been very patient, waiting since March.

Have you been looking at other properties as a "back-up" in case this purchase went wrong?? Personally I would have held off incurring any fees until the vendors had found a property they wanted - good advice for the future! Agents hate it, but why should you incur costs until the vendor finds somewhere?

Think the agent needs a kick, they should be keeping you informed and not being so dismissive of your concerns. Suggest if you really still want the place then set a deadline for vendors to exchange and move into rented accommodation. Not a nice scenario, but you've been very patient!

Sometimes vendors offer to move into rented accommodation but when push comes to shove they seem very reluctant to actually do it and take themselves off of "the ladder". Perhaps if you have a good relationship with them you could meet up and emphasis the benefits of them doing this and then buying somewhere else with no chain beneath them!

The problem with a private sale is between the vendor and their agent - however agents are wise to this practice now so will have access to the Land Registry records and will no doubt catch the vendor out in the end! Solicitors may not be willing to be a part of this kind of thing anyway; but as I've said, it's the vendors problem really!

I really hope you get some answers today, let me know how you get on!

Good Luck!

Cats!

Trumsiz123

Hi!
Thanks for the advice.You're right, it's definately worth thinking about not instructing the sol. until the chain is complete.

I think we've been incredibly patient too! Our vendors are just a concerned as us and we do have a good relationship. Just rang the EA to check she'll be in when we march into to give her what for! She said that the probate issue was just finishing and the final purchase on the property has been sorted. I'm sure she said this two weeks ago.

The vendors I think are genuinely prepared to move into rented accom. but I think it should be the people with probate issues to go into rented. At least then the four other people in the chain can get sorted.

I'm just worried that if we kick and shout too much it's not going to help the issue, but then I guess not doing anything hasn't helped either!!! EEEK!

Doozergirl

Don't kick and shout. You have lovely sounding vendors who are willing to make sacrifices to keep you.

It has only been five weeks since the last link in the chain found somewhere to buy - that's when the clock started ticking and five weeks would be pretty quick for them to be ready. I should hope that they will ready very soon as there is no chain above. I am sure that you will be in well before your mortgage offer runs out.

I think you're getting that near to the end that getting upset or making demands may just be the final straw for another link in the chain. It's stressful enough as it is without people placing demands that get sent up the chain and annoy people.

It won't be long, just be patient. You were prepared to wait for them to find somewhere - you need to see that through.

I don't kno wwhy anyone is talking about private sales, the sale is quite clearly going through the EAs and they would wonder what happened if you bith disappeared. If your vendor decided to pull out fo their purchase it wouldn't mean that you couldn't complete your transaction.

cats!

Yep, I agree with Doozergirl, screaming and shouting will only make you seem hysterical - although I've felt like going "nuclear" on a few agents in my time!

The agents don't sound very concerned about your needs as FTB's - remember that if you ever come to sell. This is a good example of how they treat people!

Even though the chain seems complete now you have been exceptionally patient - waiting months - which considering your position as FTB you could have found somewhere else and potentially been moved whilst this was happening!

With regards to the probate issue, is it an empty property (normally is)? Be careful and get regular updates, if a "grieving" relative decides to contest the will (of which I hope there is one??) the legal rows can drag on. If probate hasn't been granted within a month - six weeks - be warned!

If you already have a solicitor instructed don't be afraid to contact them with your concerns.

It's good you have a rapour with the vendors, but just remember - it's a business transaction! Don't be afraid to put your feelings first.

Good Luck!

Trumsiz123

Well I've just returned from the EA and there was no screaming or ranting.

Although the EA had told us two weeks ago that the probate issue had been resolved then, she now said had all been finalised last Friday! But at least it is. They started the usual searchs Friday and the sol has been very efficient and this afternoon is only waiting for two more queries, drainage and planning permision!
Apparently the last house in the chain has a conservatory which may not have proper planning permision!!!! Hopefully it will....if not, how long does retrospective planning permision take place? any ideas?

If all goes well we may have dates next week, so now I'm just worrying about this conservatory!!!

Our vendors are really nice and hopefully nothing we'll change our good relationship we seem to have now! We are still willing to be patient, as long as we are informed! Which is pretty much what we told the EA!

cats!

Glad to hear probate has been granted!

Conservatories don't always needs planning permission or building control, so this might not be a real issue or problem. A quick call to the local council by the affected vendor should confirm this. Planning permission is normally only needed when the property had already been extended previously.

Building Control only normally get involved if the conservatory has heating linked to the heating system in the main residence. This is normally overcome by having isolation valves fitted to the heating in the conservatory, thereby classing it as separate!

Hope you get good news now!

cats!

Just a thought - is the property with the conservatory in a conservation area or in a area with restrictive convenants in the title deeds??

Trumsiz123

hi Cats!
thanks for the advice about the planning permission, it sounds like it doesn't necessarily have to be a nightmare!

I don't think it is in a conservation area or anything like that, and I'm feeling a bit more optimistic about everything now we actually have some information.

Hopefully the EA will keep on everyones toes and will gives us more information. I'm going to ring again tomorrow just to check. I think I'm a bit calmer now.