The NEW waiting to exchange thread...

WiseOwl00

Well unfortunately it was bad news for us today. 
The lender somehow valued the house as a 4-bed instead of a 3-bed, despite absolutely everything saying it was a 3. We've had our mortgage offer since November as well. It's taking them a minimum of a week to reply to emails and they're likely going to have to revalue it, probably adding more weeks on. Plus, they could devalue the property, which could essentially to lead to the house falling through. 

The vendor desperately needs to sell in the next few weeks, plus I need to move urgently due to ongoing personal issues. I honestly don't think I can cope with another house falling through, this would be my second since July. The thought of having to choose between going through absolutely everything again, or having my mental health suffer if I stay where I am now, is not good. 

I've tried so hard to remain positive, but I don't rate my chances high anymore.

mowgliisaG

WiseOwl00 said:

Well unfortunately it was bad news for us today. 
The lender somehow valued the house as a 4-bed instead of a 3-bed, despite absolutely everything saying it was a 3. We've had our mortgage offer since November as well. It's taking them a minimum of a week to reply to emails and they're likely going to have to revalue it, probably adding more weeks on. Plus, they could devalue the property, which could essentially to lead to the house falling through. 

The vendor desperately needs to sell in the next few weeks, plus I need to move urgently due to ongoing personal issues. I honestly don't think I can cope with another house falling through, this would be my second since July. The thought of having to choose between going through absolutely everything again, or having my mental health suffer if I stay where I am now, is not good. 

I've tried so hard to remain positive, but I don't rate my chances high anymore.

I know it’s easier to stay but stay positive...this journey has so many ups and downs it’s hard too especially when we are on the down..but hang in there..

tigerlily74

WiseOwl00 said:

Well unfortunately it was bad news for us today. 
The lender somehow valued the house as a 4-bed instead of a 3-bed, despite absolutely everything saying it was a 3. We've had our mortgage offer since November as well. It's taking them a minimum of a week to reply to emails and they're likely going to have to revalue it, probably adding more weeks on. Plus, they could devalue the property, which could essentially to lead to the house falling through. 

The vendor desperately needs to sell in the next few weeks, plus I need to move urgently due to ongoing personal issues. I honestly don't think I can cope with another house falling through, this would be my second since July. The thought of having to choose between going through absolutely everything again, or having my mental health suffer if I stay where I am now, is not good. 

I've tried so hard to remain positive, but I don't rate my chances high anymore.

Oh no. I do hope it gets sorted quickly for you with a positive outcome.

uralmaid

sleepless night had here wondering what today brings.  Had an email from our solicitor on the 22nd January asking if 23rd ok with us for completion. This had come from the vendors solicitors. We said yes providing we can book removals so need to know if ok with rest of chain (bottom is a cash buyer, buying from the people who are buying ours. Then we are buying from the person suggesting the date) so short chain.  A week later the solicitors below have not replied to our solicitor.  Then yesterday (1st Feb)  had a call from our vendor saying he needs to exchange by 8th Feb as he has to sign his contract (he is going into rented), but won't sign it unless we have exchanged.   I immediately contacted our solicitor and she has emailed the solicitors before explaining this.  Just feel as if we are at stalemate as if they aren't ready and we can't exchange we don't know how to resolve this. The person buying ours has always said she needs to be moved before the end of February as she breeds goats and they are due to kid .   If our vendor can't/won't sign up for his rental property and loses it we will be back to square one waiting for him to find another and the same thing could happen again. (The problem is - he has 9 snakes, a cat and a dog so his options are a bit limited as to being accepted). Does anyone have any ideas?  

mowgliisaG

Good luck to all today who are waiting to exchange/complete or just hearing about some progress!!

Anty21

WiseOwl00 said:

Well unfortunately it was bad news for us today. 
The lender somehow valued the house as a 4-bed instead of a 3-bed, despite absolutely everything saying it was a 3. We've had our mortgage offer since November as well. It's taking them a minimum of a week to reply to emails and they're likely going to have to revalue it, probably adding more weeks on. Plus, they could devalue the property, which could essentially to lead to the house falling through. 

The vendor desperately needs to sell in the next few weeks, plus I need to move urgently due to ongoing personal issues. I honestly don't think I can cope with another house falling through, this would be my second since July. The thought of having to choose between going through absolutely everything again, or having my mental health suffer if I stay where I am now, is not good. 

I've tried so hard to remain positive, but I don't rate my chances high anymore.

I’m sorry to read this - I hope you get good news from the lenders and can continue. 

fastbs

Good luck today all 🤞🏼Hope we all hear some good news 

badger09

WiseOwl00 said:

Well unfortunately it was bad news for us today. 
The lender somehow valued the house as a 4-bed instead of a 3-bed, despite absolutely everything saying it was a 3. We've had our mortgage offer since November as well. It's taking them a minimum of a week to reply to emails and they're likely going to have to revalue it, probably adding more weeks on. Plus, they could devalue the property, which could essentially to lead to the house falling through. 

The vendor desperately needs to sell in the next few weeks, plus I need to move urgently due to ongoing personal issues. I honestly don't think I can cope with another house falling through, this would be my second since July. The thought of having to choose between going through absolutely everything again, or having my mental health suffer if I stay where I am now, is not good. 

I've tried so hard to remain positive, but I don't rate my chances high anymore.

Oh gosh that is awful for you. You must feel trapped between a rock and a hard place.
I don't have anything to say which is of practical help, but you really must do whatever it takes to look after your own wellbeing. Is there anyone not involved, who you can 'vent' to, who could perhaps help you see a way through?

badger09

uralmaid said:

sleepless night had here wondering what today brings.  Had an email from our solicitor on the 22nd January asking if 23rd ok with us for completion. This had come from the vendors solicitors. We said yes providing we can book removals so need to know if ok with rest of chain (bottom is a cash buyer, buying from the people who are buying ours. Then we are buying from the person suggesting the date) so short chain.  A week later the solicitors below have not replied to our solicitor.  Then yesterday (1st Feb)  had a call from our vendor saying he needs to exchange by 8th Feb as he has to sign his contract (he is going into rented), but won't sign it unless we have exchanged.   I immediately contacted our solicitor and she has emailed the solicitors before explaining this.  Just feel as if we are at stalemate as if they aren't ready and we can't exchange we don't know how to resolve this. The person buying ours has always said she needs to be moved before the end of February as she breeds goats and they are due to kid .   If our vendor can't/won't sign up for his rental property and loses it we will be back to square one waiting for him to find another and the same thing could happen again. (The problem is - he has 9 snakes, a cat and a dog so his options are a bit limited as to being accepted). Does anyone have any ideas?  

The only thing I can think of is if you are really confident the chain isn't going to fall apart (and obviously you don't have certainty until exchange), is to offer your vendor a financial incentive to sign up for his rental. If he's willing to break the chain to suit others, he sounds committed to the sale. Its a risk for him. and you of course, and I've no idea how much I'd offer, but its not going to be easy for him to find somewhere with all those pets. 

ashleighduguid

Completion today!! Waiting for a phone call or information from anyone is a dragggggg!