House Sale Completion Time....

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GordonMuchallNo1Fan said:
so on friday we told the estate agent we wish to pull the sale as basically we felt the buyer was taking the piss. so the estate agent went ahead with our wishes etc and solicitors closed files. estate agent attempted mediation as the buyer was disappointed even though as of 10 weeks into the sale agreed (it's now 11 and a half weeks), they hadn't started searches, wanted £4000 knocked off (which they acknowledged over the weekend was a bad move) and didnt have mortgage offer through. anyway spoke to estate agent yesterday and said we would sleep on it and speak about whether we still wanted to proceed. anyway estate agent phoned today and said the buyer no longer wishes to proceed.

so basically 11 and a half weeks wasted. fortunately we owe nothing to the solicitor or estate agent but we rushed through some electric work and EPC so it's cost us £260 in total but at least it's stuff that isn't wasted in terms of dead money wasted.

incredibly frustrating process but clearly the buyer just didn't want the property.

such a waste of time
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Do you have to sell ?
why not rent out ur current property sure rent will easily cover any remaining mortgage and be a nice nest egg 😉
That’s what I did after numerous time wasters best thing I ever done now mortgage free and still getting 700 pcm 👍
 


ChrisK said:
Do you have to sell ?
why not rent out ur current property sure rent will easily cover any remaining mortgage and be a nice nest egg 😉
That’s what I did after numerous time wasters best thing I ever done now mortgage free and still getting 700 pcm 👍
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Surely you need somewhere to live now though.
 
Big Toe said:
Surely you need somewhere to live now though.
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Exactly takes away all the pressure of moving and trying to do up new home while living there
we stayed in our first house while we got the new house decorating done then moved
had tenant lined up as soon as we moved out
ok had a month of double mortgage but was worth it totally stress free as we gradually moved our stuff in as we finished each room would definitely recommend it if it works financially for you
 
ChrisK said:
Exactly takes away all the pressure of moving and trying to do up new home while living there
we stayed in our first house while we got the new house decorating done then moved
had tenant lined up as soon as we moved out
ok had a month of double mortgage but was worth it totally stress free as we gradually moved our stuff in as we finished each room would definitely recommend it if it works financially for you
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We did this with the last digs. Was a full renovation so very much needed.
 
GordonMuchallNo1Fan said:
They also told us in July days after offer accepted that the mortgage was all agreed in principle........ 74 days later and they are seemingly waiting for their mortgage offer to come in. Piss take
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Sadly Solicitors and Financial Institutions often employ juniors to fill these roles and hence these delays occur.
Don’t rule out that they may struggle to be granted a Mortgage. Happens time and time again.
 
We’ve had our place up for sale for about 6/7 weeks.

had maybe 8 viewings with only 1 of them in a position to make an offer.

all of the others had either houses of there own to sell and a couple weren’t even on the market yet

we’ve looked into a new place however haven’t viewed anybody’s actual home until we’re in a position to proceed

tried to part ex with Avant but they took the piss and offered £30k below valuations we’ve had
 
Loads of time wasters out there mate, we accepted an offer beginning of March 2019.
Mid July 2019 we were still getting questions from the buyers solicitor about a 1 metre x 1 metre bit of land that was not ours and It clearly showed that on all documents.
I got fed up in the end and told them where to go, we ended up losing out on a house in the end.
Back on the market and sold 6 weeks later, buyer was a lot better and we exchanged contracts within a couple of month and complete around 2/3 weeks later.
Solicitor’s are a complete piss take though and you have to constantly push them or they will just happily let your sale sit there.
 
Oily Oily Oily said:
Loads of time wasters out there mate, we accepted an offer beginning of March 2019.
Mid July 2019 we were still getting questions from the buyers solicitor about a 1 metre x 1 metre bit of land that was not ours and It clearly showed that on all documents.
I got fed up in the end and told them where to go, we ended up losing out on a house in the end.
Back on the market and sold 6 weeks later, buyer was a lot better and we exchanged contracts within a couple of month and complete around 2/3 weeks later.
Solicitor’s are a complete piss take though and you have to constantly push them or they will just happily let your sale sit there.
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We were getting asked questions whether the house (in wheatley hill) was on a flight path and whether we suffer from any noise from trains. Remarkable
 
I'm still waiting for Nationwide to get back to me about my mortgage for a purchase on my new place. Had all surveys done etc just them holding the process up.
 
Saw our dream home n i talked the sellers into taking ours n a lump of money.
Ours had been listed 2 year iirc.
They agreed and i was certain it’d all turn to shit untell I was sat with a can in my new house 6-7 weeks later.
Very very lucky i reckon, maybe paid a few % too much but feck it.
GordonMuchallNo1Fan said:
We were getting asked questions whether the house (in wheatley hill) was on a flight path and whether we suffer from any noise from trains. Remarkable
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Isnt there a daily jumbo from JFK into Shotton anymore?
 
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Sandboy said:
It's staggering that in 2020 we still have this antiquated system, it is shit. When I'm PM it will be changed, Facebook will be closed, baseball caps, trackie bottoms and mags will also be banned
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Combining the system with charvers who couldnt give 2 fucks about others inconvenience is far from ideal too.
 
ChrisK said:
Do you have to sell ?
why not rent out ur current property sure rent will easily cover any remaining mortgage and be a nice nest egg 😉
That’s what I did after numerous time wasters best thing I ever done now mortgage free and still getting 700 pcm 👍
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Do you have to do a tax return for that?
 
Mrs works a bit in conveyancing. Think she says 8-12 weeks for everything to be done.
She did say recently however that even though covid, sales are now this year with her firm where they were at the end of last year and its been crazy in the last couple of months. Think HSBC has pulled the plug on some of their mortgages due to massive uptake and some extending 5% deposits so no surprise really. Land registry etc seem to keeping up at the mo and searches coming back in ok time
 
Its bloody crackers the way they millk it.

Mams house
No chain at all
Cash buyer
Has now been over 6 weeks since offer accepted and still expected 4 weeks to go.

Ridiculous
 
Twenty five year ago sold our first house, the buyer knew we had a house we were keen to move into, lied about his survey to basically get us to knock £3000 off a lot of money at the time. Had coverted the loft into a room but because of stairs did not comply with building regs so plasterboarded up. He sold it years later to a mates son we removed the plasterbord and he converted it into a room.
 
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