The nervous wait to exchange....

Soldato
Joined
15 Mar 2010
Posts
11,056
Location
Bucks
Sold our house randomly on Thursday for asking price. Didn't even put an advert up , Estate Agent bought a couple round on a whim and they wanted it.

Put an offer in for another house, but likely will lose it today to a higher bidder, but unwilling to match as the house would need work and its frankly not worth the asking as it is (£440,000)

and so begins my journey I guess....will keep updating.
 
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Soldato
Joined
3 Oct 2009
Posts
19,892
Location
Wales
Biggest problem with buying and selling is 'SOLICITORS!'
Lol! :D

£280 for searches? £160 from a solicitor well used in our family.

Depends on so many things. Welsh Water for example costs ~£24. Some other Water Authorities cost over £60. Denbighshire Council costs £65. Some Local Authorities cost well over £100. if you want additional enquiries on a Local Search they can cost £10-20 per question and some people want a number of the questions.

Add in extras like coal and flood searches which are sometimes needed and you're gonna be well over £200

Really? Aren't they all online now? Every single document we have for our complete search pack has the same date on it, so it looks like they were all done at once, likely with just a press of a button.

Yours probably have the same date because your solicitors use a third party company to do the searches for them and charge you extra for the pleasure. I do them myself and typical turnaround times are 2 hours for Environmental Search, 5 working days for online direct Local Search and 10 working days for Water Search.

Plus some authorities wont allow you to do them online unless you order a certain amount a month which is a PITA and only useful for big firms.
 
Soldato
Joined
2 Dec 2004
Posts
13,980
Location
Under The Desk, Wales

Are you a solicitor?

If so, my solicitor is not very good! He sent a form in to Land Reg and when i rang Land Reg they said he had not filled out form properly! He did not state what he wanted them to do!

We have 2 titles on our property and buyers solicitor wants it updated and the 2 titles merged. My solicitor said it should not be a problem. Agree?
 
Soldato
Joined
3 Oct 2009
Posts
19,892
Location
Wales
Are you a solicitor?

Not yet ;) But I seem to know more than a lot of the qualified ones I deal with (and people in this thread deal with by the looks of it)!

We have 2 titles on our property and buyers solicitor wants it updated and the 2 titles merged. My solicitor said it should not be a problem. Agree?

It shouldn't be a problem but at the end of the day if the buyers request it and don't back down there's not a lot you can do. I suppose they could technically call it a title defect and if they want it fixed such is life.

Depends how it's laid out as to whether i'd call it a problem. Did on recently where the house was on one title and the garden on another which was fine, would still in an ideal world want it merged though.
 
Soldato
Joined
2 Dec 2004
Posts
13,980
Location
Under The Desk, Wales
Not yet ;) But I seem to know more than a lot of the qualified ones I deal with (and people in this thread deal with by the looks of it)!



It shouldn't be a problem but at the end of the day if the buyers request it and don't back down there's not a lot you can do. I suppose they could technically call it a title defect and if they want it fixed such is life.

Depends how it's laid out as to whether i'd call it a problem. Did on recently where the house was on one title and the garden on another which was fine, would still in an ideal world want it merged though.

Thanks
 
Soldato
Joined
3 Oct 2009
Posts
19,892
Location
Wales
Exchange takes place as at the phone call (they are dated and timed as such) but they are swapped in the post afterwards. There are 3 protocols for that and (Law Society) Formula B is the only one really used in practice, which is moderately interesting :p

Law Society telephone/telex exchange - Formula B (1986) (for use where each solicitor holds his or her own client's signed part of the contract):
A completion date of ................ is agreed. Each solicitor confirms to the other that he or she holds a part contract in the agreed form signed by the client(s) and will forthwith insert the agreed completion date.
Each solicitor undertakes to the other thenceforth to hold the signed part of the contract to the other's order, so that contracts are exchanged at that moment. Each solicitor further undertakes that day by first class post, or, where the other solicitor is a member of a document exchange (as to which the inclusion of a reference thereto in the solicitor's letterhead shall be conclusive evidence) by delivery to that or any other affiliated exchange, or by hand delivery direct to that solicitor's office, to send his or her signed part of the contract to the other together, in the case of a purchaser's solicitor, with a banker's draft or a solicitor's client account cheque for the deposit amounting to £..... .
Notes:
1. A memorandum should be prepared, after use of the formula, recording:
a) date and time of exchange;
b) the formula used and exact wording of agreed variations;
c) the completion date;
d) the (balance) deposit to be paid;
e) the identities of those involved in any conversation.
2. Those who are going to effect the exchange must first confirm the details in order to ensure that both parts are identical. This means in particular, that if either part of the contract has been amended since it was originally prepared, the solicitor who holds a part contract with the amendments must disclose them, so that it can be confirmed that the other part is similarly amended.
 
Associate
Joined
3 Aug 2004
Posts
1,770
Location
Essex
Anyone had dealings with RICS valuations? We need to get one in order to sell out house (currently shared ownership) I started speaking to one and hes informed me that he can't speculate on prices if there has not been any similar houses sold recently and would have to use similar houses that sold 12+ months ago to base his valuation on.

Which seems stupid personally, as house prices have been going up over the 12 last 12 months by about 5%.

Looking online there has only been 2 houses similar which were both sold over 12 months ago.

Obviously because we are selling we want to get the maximum we can, or at least a fair price, using the method hes stated that does not seem particularly fair.
 
Soldato
Joined
4 May 2007
Posts
9,347
Location
West Midlands
My solicitor searches have come back and apparently I need chancel repair insurance :o (38 quid). Wish I paid extra prior to the searches!

(no search but straight for insurance)
 
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Soldato
Joined
8 Nov 2013
Posts
8,906
Location
In the pub
Anything like mine keep kicking their arse! lol :D

Ours has been fantastic. We used them to sell and they were in constant contact with us so we used to buy as well. Every email is answered within 2 hours and they are just as annoyed with the seller and solicitors as we are.

Based in Newport, S Wales if you want their details.
 
Soldato
Joined
28 Nov 2003
Posts
11,591
Location
Manchester, UK
Can anyone recommend any decent solicitors in the Manchester area?

FTB here going through all this myself for the very first time. Decided on an area which suited us, we had a price range which was realistic and the search began. A few houses would pop up every now and again but if they were priced well they would be sold fairly quickly.

Anyway we found one which was slightly deceptive from the outside. The rooms inside were much bigger than we thought they'd be compared to other houses we'd viewed in the area, also this one had two decent sized reception rooms whereas most the others just had the one. Space in the drive for 2/3 cars and a decent sized garden in the back.

11.07.16 - offer put in (rejected)
14.07.16 - 'final/best' offer put in (rejected)
25.07.16 - a final final final offer put in (accepted)
01.08.16 - mortgage approved with Natwest

Now I need to find a decent solicitor, the estate agents and Natwest are waiting for me to send them the details...
 
Soldato
Joined
2 Dec 2004
Posts
13,980
Location
Under The Desk, Wales
Can anyone recommend any decent solicitors in the Manchester area?

FTB here going through all this myself for the very first time. Decided on an area which suited us, we had a price range which was realistic and the search began. A few houses would pop up every now and again but if they were priced well they would be sold fairly quickly.

Anyway we found one which was slightly deceptive from the outside. The rooms inside were much bigger than we thought they'd be compared to other houses we'd viewed in the area, also this one had two decent sized reception rooms whereas most the others just had the one. Space in the drive for 2/3 cars and a decent sized garden in the back.

11.07.16 - offer put in (rejected)
14.07.16 - 'final/best' offer put in (rejected)
25.07.16 - a final final final offer put in (accepted)
01.08.16 - mortgage approved with Natwest

Now I need to find a decent solicitor, the estate agents and Natwest are waiting for me to send them the details...

Can you not ask friends and family
 
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