The NEW waiting to exchange thread...

matthew91822

matthew91822 said:

matthew91822 said:

Our solicitor for my sale said they're planning to exchange either tomorrow or Monday with completion happening on the same day (cash buyer). Fingers crossed its tomorrow - it will be funny having so many zeros in my bank account for a few days before its all gone again  😅

Exchange got delayed so moved the date to today. Got a call at 11am saying.... the buyer had reduced his offer by £10k, what a complete **** after waiting 9 months getting to this point.Gave final counter offer that demands exchange completion by this Friday or we have to go back to putting it on the market. What a time to drop the offer though. 😡

After some renegotiation we were to exchange today. Then the buyer pulled out. Breaking the chain and so I've now lost the house I am buying and ready to exchange on. 

When are we going to change to the Scottish system of offer accepted being contractual. Awful people, why do it now after 9 months.

SadieO

That's terrible @matthew91822 I'm so sorry. 

julicorn

matthew91822 said:

matthew91822 said:

matthew91822 said:

Our solicitor for my sale said they're planning to exchange either tomorrow or Monday with completion happening on the same day (cash buyer). Fingers crossed its tomorrow - it will be funny having so many zeros in my bank account for a few days before its all gone again  😅

Exchange got delayed so moved the date to today. Got a call at 11am saying.... the buyer had reduced his offer by £10k, what a complete **** after waiting 9 months getting to this point.Gave final counter offer that demands exchange completion by this Friday or we have to go back to putting it on the market. What a time to drop the offer though. 😡

After some renegotiation we were to exchange today. Then the buyer pulled out. Breaking the chain and so I've now lost the house I am buying and ready to exchange on. 

When are we going to change to the Scottish system of offer accepted being contractual. Awful people, why do it now after 9 months.

That is absolutely horribly, I am so sorry to hear!  

RM_2013

@matthew91822

I am so sorry to hear this what horrible crappy behaviour and I agree the whole
system really needs to change 

Maximus5

@matthew91822 So sorry to hear that I can only imagine the stress from the stress we are currently in waiting to exchange. 

Totally agree it’s wrong in the system people being able to do that to you. Without very good reason to pull out there should be some kind of financial penalty or something for them 

EndlessStruggle

Omg. Their solicitors have raised another round of enquiries.

The estate agents are starting to get p...ed off at their solicitors lol.

She raised whether I can move before Christmas and I've said yes if they can give their solicitors a kick up the bum.

I've managed to secure a storage unit, luckily I called early as it was the only one available in a 20mile radius! 

I spoke to an estate agent about a property today that is over my budget but it's been around for a while.

She said yes they would be likely be able to work with my budget so they are going to get back to me on a time.

I've got another viewing on Wednesday.

The ones I've viewed so far have just been in so bad condition. It is so frustrating!!!!

jenni_fer

matthew91822 said:

matthew91822 said:

matthew91822 said:

Our solicitor for my sale said they're planning to exchange either tomorrow or Monday with completion happening on the same day (cash buyer). Fingers crossed its tomorrow - it will be funny having so many zeros in my bank account for a few days before its all gone again  😅

Exchange got delayed so moved the date to today. Got a call at 11am saying.... the buyer had reduced his offer by £10k, what a complete **** after waiting 9 months getting to this point.Gave final counter offer that demands exchange completion by this Friday or we have to go back to putting it on the market. What a time to drop the offer though. 😡

After some renegotiation we were to exchange today. Then the buyer pulled out. Breaking the chain and so I've now lost the house I am buying and ready to exchange on. 

When are we going to change to the Scottish system of offer accepted being contractual. Awful people, why do it now after 9 months.

Oh no! So sorry to hear this. 
The system is so broken isn't it. We were devastated when we lost the house we were trying to buy at that stage.

middleagedriver

Long time stalker of this thread thought I’d post today. So we are 7 long months into buying a house from a divorced couple (most of the delays down to them) 

We finally reach agreeing a date on Wednesday and exchanging contracts with 10 days left of mortgage offer. Vendor living in the house is now refusing to leave as there is not enough time. Tried to pull out today but our solicitor convinced us to wait until Monday as estate agent and ex-partner are trying to do something over the weekend.

I literally could cry, we really need to adopt the Scottish system!

RM_2013

So sorry to hear this @middleagedriver the system is crap. I hope you can resolve things 

Camboudica

Looks like we're going to be walking away from our sale just as we'd be ready to exchange. 

Basically, the house is an ex rental, the Owner has barely spent a penny on the property in 25 years, and on top of all the work we already knew about from our initial viewing (needs new kitchen /bathroom, redecoration and carpets), it turns out the roof is rotten, the windows need replacing and the house needs a rewire. Bottom line, it's needs a complete refurbishment from the ground up to the roof. 

As a Landlord she had to have an EICR done, we asked for a copy but she only sent half the pages, I asked for the rest and after making a fuss about not being able to find them, we said no worries we'll get one done, at which point she suddenly found the missing information. It turns out the missing pages show it was an unsatisfactory report with serious fault codes on it, and she's been letting her tenants live there! She is adament though that the electrician told her everything was OK, despite the report clearly stating its not, and she is refusing to acknowledge there are serious issues with the electrics.

I've just about had enough of her lies and evasive attitude. We put a very reasonable email together outlining all of the additional work needed with quotes and back-up and offered a reduced price and she responded to counter offer a couple of grand off. She basically wants the same money for her property as a comparable one that is in good overall condition. I told the EA she's a joker and she has two choices, she either drops the price to bring it in line with other similar properties of the same state of repair, or we walk.

I've booked another viewing for Monday.