Who should I be talking to about this? I'm so lost 🙈

HopeAndDriftWood

Long story short, we got two offers on our flat in mid-June for the same amount of money. One was from a local landlord, one from a man who wanted it for his son. The EA pushed us to go with the first offer, as they'd worked with him before, and they let his properties for him.

We had an offer accepted the next day, on a house that the buyer had pulled out of just before exchange. The full chain is six houses, and everyone above us has been ready since the start of June, so they wanted to be done by the end of September. Everyone was made aware of this and agreed, including our solicitor and our buyer.

We got everything done quickly, within the first 7 days - building survey, full mortgage offer received, all paperwork done, etc. Enquiries were raised two weeks ago. I believe we're basically ready to go, although our solicitor was off last week and her assistant didn't respond to any requests for updates, but hopefully we'll hear today. 

Our buyer did nothing until our sellers' EA kicked off, and then put their mortgage offer in on 10th August, and instructed their solicitor. We've had the first round of enquiries from them, 8 days ago. 

Last week, our sellers EA called us to say that she'd chased our EA for an update on the mortgage application, and had been told he was buying ours with cash. A different EA from higher up the chain also called and talked to the same person, and was told he was getting a mortgage for here. We called the EA to clarify, but they were cold and quite rude, and said he probably wouldn't be ready in September and they have thousands of cases that have been waiting since January... 

We've had no valuation here, or requests for a survey, or updates at all. I guess we chase the solicitor on overall status, enquiries etc - but should the EA be able to tell us how he's buying here and what progress is being made there, or is that the solicitor now too? 

I'm in my third trimester now and really want to get things moving! But the baby brain is real 😳

AFF8879

SaucySecrets said:

I'm in my third trimester now and really want to get things moving! But the baby brain is real 😳

I’ll let someone else address the main points you raise (IMO, for what it’s worth- the rest of the chain don’t really have much choice, the buyer you currently have is the quickest bet for all involved, there’s no way you would complete by September 30th if you had to remarket and find another buyer now… so don’t stress too much about threats to pull out etc).

But I just wanted to say, hoping not to sound condescending… don’t stress about moving before baby arrives. So many couples in flats, smaller houses etc panic and think they immediately need to be in a 3 bed semi with large garden the second the baby arrives. Whereas in reality space is not going to be an issue for AT LEAST 2-3 years, newborns will happily sleep in a drawer if they have to!!

HopeAndDriftWood

Thanks @AFF8879 - It's more that it'd be nice to be settled, but I'd like to know where we'll be to get ready! Right now we're in a one bed, and both working from home in our living room, so if this is to be a nursery too, we'll have to get some storage and sort everything. We'd be okay for space, but I'd rather try and get a washing machine etc if that's how it's going to be, and be a bit organised. I feel like I live in one room 

Our EA maintains that the rest of the chain would wait, but our seller and his EA have said it won't happen if it's not by the end of September. I think there's a new build right at the top, that's ready and was causing some stress, and the second people in the chain can't afford the stamp duty increase. Although like you've said, they wouldn't be able to get anyone else to do it faster now...

I'm trying to be okay in my head with it either happening or not, as I have so little control over it, but I wish I knew either way! 

kentboy101

You can only go as quick as the slowest point, which happens to be your buyer. I wouldn't believe a word your estate agent says, they will only tell you what you want to hear.

All you can do is keep pushing your estate agent for answers, unfortunately what seems to have happened is that they have convinced you to seel to one of their 'mates' so I don't expect they will really be putting on that much pressure.

saajan_12

SaucySecrets said:

Long story short, we got two offers on our flat in mid-June for the same amount of money. One was from a local landlord, one from a man who wanted it for his son. The EA pushed us to go with the first offer, as they'd worked with him before, and they let his properties for him. - unfort that doesn't mean they'll be the best buyer for you, sounds like the agent was more motivated by keeping this LL on side as a client. But its done now. 

We had an offer accepted the next day, on a house that the buyer had pulled out of just before exchange. The full chain is six houses, and everyone above us has been ready since the start of June, so they wanted to be done by the end of September. Everyone was made aware of this and agreed, including our solicitor and our buyer. - targets discussed at the point of offering is really just a finger in the air, meaningless. Always going to be subject to *stuff* happens. 

We got everything done quickly, within the first 7 days - building survey, full mortgage offer received, all paperwork done, etc. Enquiries were raised two weeks ago. I believe we're basically ready to go, although our solicitor was off last week and her assistant didn't respond to any requests for updates, but hopefully we'll hear today. 

Our buyer did nothing until our sellers' EA kicked off, and then put their mortgage offer in on 10th August, and instructed their solicitor. We've had the first round of enquiries from them, 8 days ago. 

Last week, our sellers EA called us to say that she'd chased our EA for an update on the mortgage application, and had been told he was buying ours with cash. A different EA from higher up the chain also called and talked to the same person, and was told he was getting a mortgage for here. - possibly the buyer is raising a mortgage on another property, and using the proceeds to buy yours. more likely the EA was confused / didn't check properly. 

We called the EA to clarify, but they were cold and quite rude, and said he probably wouldn't be ready in September and they have thousands of cases that have been waiting since January... - well that's likely true, and insisting on target dates is pointless. However that doesn't mean they can't (politely) update you on the progress and push the buyer to keep the pace up. 

We've had no valuation here, or requests for a survey, or updates at all. I guess we chase the solicitor on overall status, enquiries etc - but should the EA be able to tell us how he's buying here and what progress is being made there, or is that the solicitor now too? -  you can ask both - they'll have different levels of detail but both should be able to respond to a request for updates (within reason)

I'm in my third trimester now and really want to get things moving! But the baby brain is real 😳

The chat about Sept target date being agreed is pointless, no one can guarantee that and will probably just rile people up. However the solicitor and agent should still be politely providing you with updates on the progress.

Email the EA stating you would like a progress update and to determine your next actions, you would like clear confirmation on 

1. How the purchaser is funding the purchase - mortgage on this / another property or cash.
2. Proof of the above (AIP or bank statement totalling the purchase price)
3. Has the mortgage application been submitted? (if any)
4. Has the mortgage valuation / survey been booked? (if any)
5. Have all searches been requested?

If the buyer is making progress, then up to you to decide whether they're more likely to finish sooner than remarketing. However if its not just confusion but if the buyer really is being slow, then it might not make much difference and you may as well start again. Neither option will get you anywhere by 30th Sept, but should be the best you can get. 

Tiglet2

SaucySecrets said:

We got everything done quickly, within the first 7 days - building survey, full mortgage offer received, all paperwork done, etc. Enquiries were raised two weeks ago. I believe we're basically ready to go, although our solicitor was off last week and her assistant didn't respond to any requests for updates, but hopefully we'll hear today. 

Our buyer did nothing until our sellers' EA kicked off, and then put their mortgage offer in on 10th August, and instructed their solicitor. We've had the first round of enquiries from them, 8 days ago. 


I'm in my third trimester now and really want to get things moving! But the baby brain is real 😳

The other people in the chain, who have been 'ready' since June, are unfortunate in that they have to wait for you and your buyer to 'catch up'.

The highlighted sentences above indicate that neither you, nor your buyer, are anywhere near ready. 

Enquiries, particularly where a leasehold flat is concerned, take a long time to be satisfactorily answered. 

If your offer was accepted in mid June, why were enquiries only raised two weeks ago?  Those enquiries would have to be sent to the vendor, as well as other third parties, so it is likely that your solicitor has not received any responses yet. 

Why were your buyer's enquiries only raised 8 days ago, when the buyer offered in mid June?  When did you pay for the  leasehold management pack to be sent to the buyer's solicitor?  When was it received by the buyer's solicitor?  Have you received any enquiries to answer from the buyer's solicitor?  Were any enquiries forwarded to any third parties, i.e. your freeholder?

You now only have one month until the end of September and from reading the above, I would say it is unlikely that you will complete in time, unless the enquiries are very straightforward.

E_D_FTB

As others have said in this thread, until everyone is ready to exchange, discussing completion dates are nothing more than getting everyone motivated to try to work quickly if it's possible. But a lot of things like mortgage applications and searches takes as long as they take, and no amount of threats to pull out will change that.

Also, I find it highly unlikely if the rest of the chain has been waiting months that they haven't managed to save up the £2.5k difference in stamp duty if you don't complete in time. While it's not nothing, it's also not such huge sums that a sale should be dependent on it. As others have said, it's probably just a scare tactic to try and hurry along you and your buyer.

Hope it all works out for you!

LizaVCook

Hi, I’m in a similar position as you - you commented on my thread!- (Our chain was complete in July, and originally everyone wanted to move by end of September. That didn’t happen due to our buyer and their buyer dragging feet and changing mortgages. The move date got put back every week until November 1st our buyer pulled out…)
so, I just wanted to know how your chain is progressing. I’m assuming that as you commented on mine last week you are still not moved?