selling house - taking too long! 4 months so far and no chain

dodobs1

Hi :wave


I am currently selling my property but I am not buying any where there is no chain and HS2 are purchasing my buyers property. I accepted an offer on 26th February and the sale is still ongoing. everything is complete on my side and has been for some time. I was told that the sale of my buyers property is still in early stages and I have been told that it has been delayed from the HS2 side. I sold my house for less than I wanted too as I wanted a quick sale and was told it would be. I am so frustrated with everything as I have had to pay more mortgage payments than I wanted and I have had to pay for 2 valuations and they only last 3 months. I feel I have lost a lot more money than I should have and none of it is my fault.


I have contacted my local MP as have the buyers. I have also contacted citizens advice but had no response yet.


I don't know who to turn to or where I can go as I feel very upset and out of pocket because of what has happened. I feel its very unfair. any advice would be appreciated. thanks

quantumlobster

I sympathise - my house was on the market for five and a half months before we got an offer - but I'm not sure how you've lost money through paying your mortgage, which means when you come to complete, you'll pay less. That's not lost money - quite the opposite!

If you've sold your house for a lower figure than you wanted, that's on you, I'm afraid.

In terms of expediting the process, pick up the phone to your estate agent and get them to earn their money. Call them every other day. Daily, if you have to. Find out exactly what the delay is - accept no fobbing-off!

Not sure what you expect your MP or CAB to do.

victoriavictorious

I would be putting it back on the market to see if you get any other interest / offers, and would also be letting the buyers know (via your agent) that this is what you are doing. I know this is not your buyer's fault, but harsh as it may sound, 4 months is not reasonable imo and their sale really isn't your problem. You cannot be expected to wait indefinitely.

somethingcorporate

Contacted your MP about what?!



What's holding it up? chase the EA every day and get them doing their job.

SG27

quantumlobster wrote: »

I sympathise - my house was on the market for five and a half months before we got an offer - but I'm not sure how you've lost money through paying your mortgage, which means when you come to complete, you'll pay less. That's not lost money - quite the opposite!

If you've sold your house for a lower figure than you wanted, that's on you, I'm afraid.

In terms of expediting the process, pick up the phone to your estate agent and get them to earn their money. Call them every other day. Daily, if you have to. Find out exactly what the delay is - accept no fobbing-off!

Not sure what you expect your MP or CAB to do.

The mortgage will still be accruing interest so a big chunk of those extra mortgage payments would be just interest.

I am in a similar position, and have worked out each extra mortgage payment costs me around £300 as its another months interest to pay.

davidmcn

Unless your MP is buying your house I'm not sure what you expect them to do?

Grenage

Put it back on the market, or wait; those are really your only two options.

dodobs1

I was told would take around 12 weeks max as I was told there was no chain. I have paid 3 extra mortgage payments and £400 of that is interest so no I’m not making anything! I have contacted local MP as it is a government issue as HS2 are what are slowing it down and apparently they have had a lot of complaints with the same issue. Yes I accepted a lower offer and that was my choice but only because I thought it would all be done and dusted within a couple of months not 5 months later. I’m after advice not critisicm thank you

And I have contacted the solicitors and buyers on a weekly basis and the estate agents every few days

Davesnave

No one is criticising you, but even now, when your buyer is still 'in the early stages' of their sale to HS2, you seem to be putting more faith in your MP than finding an alternative buyer.

My advice is to go back to the market, fast. You will hit the summer selling doldrums in six weeks or so.

getmore4less

Selling a house to someone dependant on HS2 buying theirs and you are surprised by delays?

Get it back on the market ASAP and find someone that can actually buy the place.

Why have you paid for 2 valuations?

westernpromise

dodobs1 wrote: »

I was told would take around 12 weeks max as I was told there was no chain. I have paid 3 extra mortgage payments and £400 of that is interest so no I’m not making anything!

If you weren't paying a mortgage on the current place you'd be paying it on the next or you'd be paying rent. So you're not out of pocket.

I'd remarket it.