The nervous wait to exchange....

Soldato
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21 Jun 2006
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UK
Had our searches come back today, with nothing of worry to report.

The solicitors said they have a few queries for which they are awaiting a response but hoping to receive the contract in the next week or so. Excellent timing as i have to be out of my current property in 6 weeks.
 
Associate
Joined
25 Dec 2008
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Norwich
well it appears I broke a covenant which i didnt know anything about, by having a shed in the garden. Feel a little annoyed as when we brought the house as first time buyer no one mentioned this too us at all and we all know what its like you get so much paper work it all gets muddled up. Long shot is the developer that built the estate back in 1970's has long since been dissolved as a company so the chance of enforcement on the covenant are pretty much zero but if the buyers dont see it that way i'm probably gonna have to buy this indemnity insurance for them to complete the purchase. So word to the wise when you get all your forms and the TR1 I believe pay special attention to the covenants apparently there is a way to have restrictive negative covenants removed but that has to go to a tribunal and can take a while hence why people buy indemnity insurance.
 

SMN

SMN

Soldato
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2 Nov 2008
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2,502
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The ether
well it appears I broke a covenant which i didnt know anything about, by having a shed in the garden. Feel a little annoyed as when we brought the house as first time buyer no one mentioned this too us at all and we all know what its like you get so much paper work it all gets muddled up. Long shot is the developer that built the estate back in 1970's has long since been dissolved as a company so the chance of enforcement on the covenant are pretty much zero but if the buyers dont see it that way i'm probably gonna have to buy this indemnity insurance for them to complete the purchase. So word to the wise when you get all your forms and the TR1 I believe pay special attention to the covenants apparently there is a way to have restrictive negative covenants removed but that has to go to a tribunal and can take a while hence why people buy indemnity insurance.
We have covenants on our place saying no permanent structures, per a 1920's agreement. We decided it wasnt an issue for the same reasons as you, and when we moved in we saw every single house on our street has a shed and some have actual brick outbuildings. If a buyer made a big deal of it i'd tell them you'll pull out, they wont walk away over something as nonsense and unenforceable as this, surely?
 
Associate
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25 Dec 2008
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918
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Norwich
Very doubtful my buyers would pull out but its just a hassle and extra expense if only a couple of hundred pounds. Know what you mean though one neighbour has a large conservatory on their property one has even built an extension over a garage supposedly all houses in the development have same covenants so i cant see anyone rocking the boat too much
 
Associate
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27 May 2007
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1,041
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Leeds!
My solicitor is asking the question today as to why our buyer is still not in a position to exchange contracts - they are a little miffed with the time scales now!
 
Soldato
Joined
11 Apr 2004
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19,807
My solicitor thinks I'll be completing in 2 weeks. Closed my HTB ISA today and signing the contract next week.

I've had to take out indemnity insurance because of contaminated land in the environmental survey, but I've looked into it further and am fairly sure it's just due to an old coal mine rather than anything serious, i.e. chemical factory.

Pretty excited now!
 
Associate
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29 Jan 2012
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679
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Andover
My seller had to take out indemnity insurance because the deeds refer to a right of way marked blue on the map. all the maps are black and white and no one has a colour version.
it cost her £24 for the insurance and cost me £50 in extra solicitors fees. The costs for the insurance made it just easier to take out rather than delay.
 
Man of Honour
Joined
11 Mar 2004
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76,634
why can't people get back to you when they say. Was meant to find out by today if I got a flat(new build), but nothing, will have to phone them Monday when they open. ben waiting best part of a month to see if I clicked the register button fast enough and if no nhs staff get put to the top of the list. although there is 5 up for grabs.
 
Associate
Joined
27 May 2003
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1,626
Those currently going through the sell process....you using high street estate agent or online?
What are your current thoughts on them.
Had several agents round and negotiating potential fees etc and looking on line also and weighing them all up.
 
Associate
Joined
2 Oct 2006
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2,275
What does an obligation in the 1937 transfer of the build of the house to be approved of the venders pursuant mean? My solicitors question is as the sellers are unlikely to have this approval, an indemnity policy is required?

Thanks.
 
Associate
Joined
18 Oct 2010
Posts
856
Location
Newcastle upon Tyne
Just waiting on the estate agents opening before I make my first ever offer on a house.
Is it standard practice to ask them to take it off the market if it is accepted? I'll be going in just over asking price.
 
Soldato
Joined
18 May 2010
Posts
12,749
Those currently going through the sell process....you using high street estate agent or online?
What are your current thoughts on them.
Had several agents round and negotiating potential fees etc and looking on line also and weighing them all up.

High street, slightly more expensive than the online agent but only slightly and they sold my house in 8 days, didnt like the way the online agent do certain things

Just waiting on the estate agents opening before I make my first ever offer on a house.
Is it standard practice to ask them to take it off the market if it is accepted? I'll be going in just over asking price.

Should go "Sold STC" but some wont change it until mortgage offer approved or solicitor instucted

The people we are buying from put on offer in which was accepted and then a week later lost it as someone else offered more, very frustrating as we have to wait for them to find somewhere else now
 
Associate
Joined
18 Oct 2010
Posts
856
Location
Newcastle upon Tyne
Should go "Sold STC" but some wont change it until mortgage offer approved or solicitor instucted

The people we are buying from put on offer in which was accepted and then a week later lost it as someone else offered more, very frustrating as we have to wait for them to find somewhere else now

I've got the agreement in principle ready to send over, but I also don't know if that is the wisest move, as it'll show the estate agent that I've got more to play with. If need be I can get one drawn up for the exact amount though. Luckily my sisters partner is my mortgage advisor.

I lost sleep last night at the thought of getting gazumped, as I know there are other people interested in the property. Hopefully we made a good impression on our viewing, especially as we have a lot in common with the seller.
 
Soldato
Joined
18 May 2010
Posts
12,749
I've got the agreement in principle ready to send over, but I also don't know if that is the wisest move, as it'll show the estate agent that I've got more to play with. If need be I can get one drawn up for the exact amount though. Luckily my sisters partner is my mortgage advisor.

I lost sleep last night at the thought of getting gazumped, as I know there are other people interested in the property. Hopefully we made a good impression on our viewing, especially as we have a lot in common with the seller.

Some of it will be based on your position, favourable if the chain end with you IE you have a first time buyer buying your property, or a buy to letter or you yourself are one of either

I dont know if they will want to see the agreement, they'll usually just ask you what your position is
 
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