The NEW waiting to exchange thread...

CLJ2986

Hi all, sorry to read some of these posts, I never realised this process could be so complicated! And I'm not a first timer lol. My vendor was supposed to drop in the last two certificates required to his solicitor today, and then all enquiries have been answered apparently. Is Wednesday too soon to call my solicitor to see if they've been recieved? So anxious to get this all moving now!

Redwino222

At the moment I am struggling to get any information from my solicitor.

my buyer’s mortgage valuation happened today - four weeks after they applied.  Will probably be another week at least until their offer.  I have had no update from my solicitor in two weeks.  No idea what queries are outstanding on my purchase, and assume my buyers haven’t even started their conveyancing process.

feel very in the dark 

trance_abbey

Wren14 said:

Just been told that my seller has changed their mind about moving and won't be selling at all.
17 weeks into the process and they drop this bombshell. My sale was ready last month and so was the paperwork for their house, it's their onward sale that's been dragging.
Feel totally, completely fed up. 

Ahhh that's awful news.

Sorry to hear...

I'm starting to think the way to go as a buyer is to put in offers on a couple of different places and let them race to complete!

trance_abbey

I got my survey back today and it's made me horribly anxious - my dad has been very nice and helpful explaining some of the things, but the surveyor reported they've found Japanese knotweed and from the little I know (I'm an expat), that's very, very bad news. I've done a LOT of googling and it seems like there's a lot of it in the area, so even if I get the seller to control the bit that's encroaching on the garden it still might spread its way back in!

There's also some damage to an internal wall that I happily assumed was a stud wall, but the surveyor says it's a bulging brick wall

jeaniemsm

trance_abbey said:

I got my survey back today and it's made me horribly anxious - my dad has been very nice and helpful explaining some of the things, but the surveyor reported they've found Japanese knotweed and from the little I know (I'm an expat), that's very, very bad news. I've done a LOT of googling and it seems like there's a lot of it in the area, so even if I get the seller to control the bit that's encroaching on the garden it still might spread its way back in!

There's also some damage to an internal wall that I happily assumed was a stud wall, but the surveyor says it's a bulging brick wall

Oh no! Have you told your lender about the findings, they may not provide mortgage on properties with japenese knotweed (some may if the japenese knotweed is more than 7 meters away from the property).

It sounds like it is right by the property as it has already damaged a internal wall?

If so tell your solicitor to hold off on all work until your lender is aware and have a good think about this property before moving forward

jeaniemsm

amyr said:

Slithery said:

amyr said:

No news here. Our Estate Agent has been speaking to our buyer today about options for renting out our house if they can't move in immediately

That's just the EA trying to keep you sweet, it's never going to happen. For a start they won't be allowed if they have a residential mortgage and that's ignoring the fact that if they let a tenant in now it could take them years to legally evict when they are ready to move in.

We're very aware of all this - ultimately our buyer's choice if they want the risk.

From our side, our Estate Agent has nothing to gain by pursuing a dud of a sale. 

Obviously, every chance it could fall apart! It's more likely than not. But it feels worth giving our buyer a week to decide rather than relist immediately...

Did they say why they can't move in?

Maybe give them a week or so to get themselves together before relisting again.

Is your onward purchase going to stay intact if you hold off longer?

amyr

jeaniemsm said:

amyr said:

Slithery said:

amyr said:

No news here. Our Estate Agent has been speaking to our buyer today about options for renting out our house if they can't move in immediately

That's just the EA trying to keep you sweet, it's never going to happen. For a start they won't be allowed if they have a residential mortgage and that's ignoring the fact that if they let a tenant in now it could take them years to legally evict when they are ready to move in.

We're very aware of all this - ultimately our buyer's choice if they want the risk.

From our side, our Estate Agent has nothing to gain by pursuing a dud of a sale. 

Obviously, every chance it could fall apart! It's more likely than not. But it feels worth giving our buyer a week to decide rather than relist immediately...

Did they say why they can't move in?

Maybe give them a week or so to get themselves together before relisting again.

Is your onward purchase going to stay intact if you hold off longer?

Luckily no onward purchase, we decided to sell before we buy to avoid too much stress (ha!).

The buyer can't move as they have a relative who has fallen unwell in their current location (they are relocating) and they need to care for them. It's a long term illness so may delay their move by a few months. They've had as bad of a time purchasing as we have selling, with two previous sales which have fallen through, so we do know they are keen to find a workaround.... Just a matter of hoping they are willing to take a risk!

firsttimesellerldn

I’m really hoping that I’m close to exchange on my sale. My buyer is pushing hard to get it over the line by end of June latest - not unreasonable given we accepted his offer before Christmas. The whole process since putting my flat on the market last summer (lost first buyer) has felt tortuous so I’m struggling to believe it might actually happen. Sending luck to all others in this situation! 

jeaniemsm

amyr said:

jeaniemsm said:

amyr said:

Slithery said:

amyr said:

No news here. Our Estate Agent has been speaking to our buyer today about options for renting out our house if they can't move in immediately

That's just the EA trying to keep you sweet, it's never going to happen. For a start they won't be allowed if they have a residential mortgage and that's ignoring the fact that if they let a tenant in now it could take them years to legally evict when they are ready to move in.

We're very aware of all this - ultimately our buyer's choice if they want the risk.

From our side, our Estate Agent has nothing to gain by pursuing a dud of a sale. 

Obviously, every chance it could fall apart! It's more likely than not. But it feels worth giving our buyer a week to decide rather than relist immediately...

Did they say why they can't move in?

Maybe give them a week or so to get themselves together before relisting again.

Is your onward purchase going to stay intact if you hold off longer?

Luckily no onward purchase, we decided to sell before we buy to avoid too much stress (ha!).

The buyer can't move as they have a relative who has fallen unwell in their current location (they are relocating) and they need to care for them. It's a long term illness so may delay their move by a few months. They've had as bad of a time purchasing as we have selling, with two previous sales which have fallen through, so we do know they are keen to find a workaround.... Just a matter of hoping they are willing to take a risk!

It might potentially mean they will want to hold on to your home then if they've already incurred expenses.

I guess you can spend the next 3ish months slowly looking at something to buy too and hopefully by the time you find something you would have exchanged with your sale.

Good luck

Natbag

@Wren14 - oh noooooo. I'm so sorry to hear this. Hope you find something else you like just as much or more.
@mat1964 - sorry to hear bad news from you too. Hope you can get another buyer quick, I'm sure you will, or bridge the gap in the meantime. We are selling two houses to buy one, and it really is double the stress.
@cbheyes - oh god, month 6 here - we listed in December, got offers in January. It sounds horrendous when you say out loud like that!
@trance_abbey - I think Japanese Knotweed is a deal breaker, for me anyway. It can be a nightmare, cause a lot of damage and it is untreatable. You may find it hard to find a lender and insurer who will touch you, and you'll likely find it difficult to sell the property in future. Definitely do some research.

Hope everyone else still in the game gets some good news and positive progress updates today