The NEW waiting to exchange thread...

Caz_Mnaz

amandacat said:

Caz_Mnaz said:

Eurgh just seen this morning that our buyers house appeared back on rightmove for sale... Am assuming someone will update us? Knew it was going too well.... 😂🤦‍♀️

Oh no, that’s awful to find out that way. If it’s any comfort, our first buyer pulled out and we got another offer within a couple of days. If exchange happens by Tuesday as planned then the whole sale will have only taken 2 months for us so it can move quickly if all solicitors are on board and all parties respond to queries quickly. 

Thanks! Not looking forward to a whole weekend of not knowing why.... We are 4th in the chain so it could be any link below us. It's quite a desirable house that sold quickly first time round  the market has ground to a halt up here now. Took us 5 months to get a single offer so I reallllly don't want to go through that again!!! 

mm1985

Caz_Mnaz said:

amandacat said:

Caz_Mnaz said:

Eurgh just seen this morning that our buyers house appeared back on rightmove for sale... Am assuming someone will update us? Knew it was going too well.... 😂🤦‍♀️

Oh no, that’s awful to find out that way. If it’s any comfort, our first buyer pulled out and we got another offer within a couple of days. If exchange happens by Tuesday as planned then the whole sale will have only taken 2 months for us so it can move quickly if all solicitors are on board and all parties respond to queries quickly. 

Thanks! Not looking forward to a whole weekend of not knowing why.... We are 4th in the chain so it could be any link below us. It's quite a desirable house that sold quickly first time round  the market has ground to a halt up here now. Took us 5 months to get a single offer so I reallllly don't want to go through that again!!! 

Call the estate agent today and find out what’s going on. They’re all open and I wouldn’t be able to wait until the weekend either. It may just be that the house has been put back on the market to put pressure on their buyers. When we bought our first house we struggled to get a mortgage because my husbands company was not 4 years old so the vendor out the house back on the market until our mortgage got approved. Once it was he took it back off. 

Caz_Mnaz

Thanks! Not looking forward to a whole weekend of not knowing why.... We are 4th in the chain so it could be any link below us. It's quite a desirable house that sold quickly first time round  the market has ground to a halt up here now. Took us 5 months to get a single offer so I reallllly don't want to go through that again!!! 

Call the estate agent today and find out what’s going on. They’re all open and I wouldn’t be able to wait until the weekend either. It may just be that the house has been put back on the market to put pressure on their buyers. When we bought our first house we struggled to get a mortgage because my husbands company was not 4 years old so the vendor out the house back on the market until our mortgage got approved. Once it was he took it back off. 

Good plan. Their buyer was the one trying to bully the rest 9f our chain into completing by the end of the month so he's either just got too impatient and pulled out /pulling a stunt or his FTB has pulled out

Our sellers are chain free and in no rush so it might all work out! As long as I can find the stamp duty money I'm now likely to need 🤦‍♀️

WiseOwl00

Still have some enquiries outstanding. Everyone seems to be working quickly to resolve them, but the solicitors are constantly going back and forth so it's just taking time. The solicitor has had to alert our mortgage lender of something to ensure they're still happy, who knows how long that will take. Absolutely fed up to be honest, don't even want to get out of bed today...

amandacat

Tiglet2 said:

amandacat said:

lf93 said:

Our chain has got a bit longer which is concerning. Beforehand it was our buyer - us - our vendor. Searches due back soon so on track to complete before end of March. Now our vendor has offered on a house (which is empty). EA thinks it'll all be fine to go through together before March. I really don't think so! They mentioned renal accom for our vendors to break the chain, I hope they were serious because if it is all delayed beyond March because of this new addition we would either reduce our offer or pull out... 

We’re selling to a FTB, they are desperate to complete before the stamp duty holiday ends. We were originally looking to buy but everything seemed to be in a further chain and I couldn’t be sure we would complete in time. So we agreed go into rented which to be honest suits us as it gives us more time and I remember how hard it can be as a FTB so we broke the chain as we felt this was the fairest thing to do. It’s a shame not everyone thinks that way. I hope you get completed in time but definitely reduce your offer if not as they shouldn’t have changed their mind last minute. 

First time buyers haven't had to pay stamp duty on properties up to £300k since 2017 and 5% between £300k and £500k, so does the stamp duty holiday affect them?

Thanks you’ve just got me thinking about this and I remember now that they are not FTB, the EA told us they were but then it transpired they or one of them had owned a property before and are currently in rented. I think because they are young the EA made that assumption and I have still had it in my head that they are FTB. 

Caz_Mnaz

Couldn't get the hold of any estate agent 🤦‍♀️
So spending the weekend running through a million different scenarios in my head 😂

never_again_123

Caz_Mnaz said:

Couldn't get the hold of any estate agent 🤦‍♀️
So spending the weekend running through a million different scenarios in my head 😂

How frustrating! When we lost our buyer close to a weekend (due to their buyer pulling out) our estate agent did actually suggest not telling our vendors straight away, putting our house straight back on the market and then telling them on the Monday having (hopefully) already got some viewings lined up. We'd already built up a really good relationship with our vendors, so chose to tell them straight away (we knew they would appreciate that more). They thankfully said they'd wait for us within reason anyway and we had a new offer very quickly. 
I just wonder if your buyers have been given the same advice and are hoping to break the news with viewings or another offer lined up first. Seeing the listing is really not a great way for you to find out 🙁

greenpanda

Our buyers keep pushing their survey back as their mortgage is approved. Is this normal? Everyone else in the chain has already spent significantly more than a home buyers survey and I'm starting to feel nervous. Our buyers need to complete before the stamp duty holiday but keeping on pushing things back makes it seem unlikely we will meet it...

Mrh1019

Can I join please?? Due to exchange next Weds or Thurs and complete on the Friday. I’m so anxious it’s untrue! Good luck to everyone xx

badger09

I get 2 bites (at least) at this cherry/thread. 
Main focus has been on sale of our 'marmite' house. Exchanged 18th Dec & completed 8th Jan. Decided in November definitely had to break chain & move into rental after our vendor pulled out for 2nd time 18th Nov. Couldn't find short term rental but friend offered temp accommodation (not ideal but its a lifeline). Moved here 7th Jan and been catching up on sleep and general 'life' stuff. 

Offer accepted on another house 28th Nov, vendor desperate for quick sale as his buyer pulled out on scheduled exchange date & his vendors not willing to wait indefinitely. Obviously, nothing happened for 2 weeks over Christmas and our solicitor was under the pump all Dec with pre Christmas exchange & completions & we were sorting stuff for storage, stuff we might need in a couple of months, and stuff we need immediately.
Solicitor is now motoring on our purchase, and we've pulled out all the stops to get it done in record time. Pity vendor has been very defensive & downright awkward on occasion. Short chain - us now cash buyers , our vendor and their vendor who is moving into empty conversion. All want to complete by end Jan, which solicitor says is achievable, subject to vendor!

Feels much less stressful now  - probably because we haven't emotionally moved into this one as we had with the failed purchase. There will be others, and bank balance helps!

Good luck to everyone hoping to exchange/complete this month.