The nervous wait to exchange....

Don
Joined
17 May 2004
Posts
12,763
Location
Telford, Shropshire
Finally had an offer on my flat yesterday which I accepted. After 13 months on with an agent (and Brexit/Covid) enough was enough and i got rid, new agent has sold within 3 weeks for asking. It's a huge relief, now I'm hoping it goes through without any major issues. Need to start looking for a new place now, although I'm moving on with no chain

I don't think it's quite sunk in yet!

- GP

congrats :)

NHBC warranty isn't worth the paper it's written on either - I had a damp issue in my new build and they wouldn't touch it as it falls under minimum amount for a fix (1300 I think?). Water was pooling against the house, and coming in under a poor sealed french doors, and coming in through where the 'step' is; Nightmare; Paid a builder to install a gutter/soakaway the length of the house and put that right. NHBC came out, price it up and said that's under, can't help you. Even though it was pointed out on the snagging list years ago, and clearly has never been right. They denied everything; lots of people on this new build estate having the exact same issues and all being fobbed off.
 
Soldato
Joined
26 Aug 2012
Posts
4,325
Location
North West
congrats :)

NHBC warranty isn't worth the paper it's written on either - I had a damp issue in my new build and they wouldn't touch it as it falls under minimum amount for a fix (1300 I think?). Water was pooling against the house, and coming in under a poor sealed french doors, and coming in through where the 'step' is; Nightmare; Paid a builder to install a gutter/soakaway the length of the house and put that right. NHBC came out, price it up and said that's under, can't help you. Even though it was pointed out on the snagging list years ago, and clearly has never been right. They denied everything; lots of people on this new build estate having the exact same issues and all being fobbed off.

+1 . Current property that I'm selling had roof tiles that weren't laid properly and blew off in strong words. The remediation work was below the minimum amount so we got fobbed off as well.
 
Soldato
Joined
27 Aug 2005
Posts
3,610
Finally had an offer on my flat yesterday which I accepted. After 13 months on with an agent (and Brexit/Covid) enough was enough and i got rid, new agent has sold within 3 weeks for asking. It's a huge relief, now I'm hoping it goes through without any major issues. Need to start looking for a new place now, although I'm moving on with no chain

I don't think it's quite sunk in yet!

- GP

What was wrong with the original agents?
 
Soldato
Joined
30 Dec 2004
Posts
4,681
Location
Bromley, Kent
What was wrong with the original agents?

Mainly abysmal communication. If their communication with potential buyers was anywhere near as bad as it was with me, chances are they weren't calling anybody back. I gave them enough benefit of the doubt through Brexit and Covid but in the end swapping agents proved worth while. Maybe the same buyers would have found it through the original agent, but maybe not, we'll never know

- GP
 
Soldato
Joined
18 Jun 2010
Posts
6,566
Location
Essex
Oh deep joy.

Email back from HSBC, please see the below from our valuation report:

"Fireplace removed from kitchen. Obtain report from a Structural Engineer whether there is adequate support for the chimney breast above and proceed upon his recommendations."

There are 2 fireplaces in the property, one in the lounge, one in the dining room which shares an internal wall with the kitchen, which is the wall that one of the fireplaces is on. The full fireplace is there and the full chimney stack is there going all the way up to the roof.

So I have absolutely no idea what they are talking about. I've sent a floorplan and internal pictures of all of this to the lady from HSBC and she is as confused as I am and is asking the valuers to be a bit more specific. :o
 
Associate
Joined
31 Jul 2009
Posts
342
Location
Reading
If there's anything that needs modernising it's the house buying process. I get that it's complex legally but Jesus Christ there are so many moving parts and people to slow the whole process down.

Even in buying a new build with no chain on our side, everything seems to take forever. Hundreds of bloody forms to fill and sign too. Maybe I'm just impatient though. I just make sure that I do everything as quickly as possible so as not to hold up the process.
 
Soldato
Joined
12 Jul 2005
Posts
3,913
Oh deep joy.

Email back from HSBC, please see the below from our valuation report:

"Fireplace removed from kitchen. Obtain report from a Structural Engineer whether there is adequate support for the chimney breast above and proceed upon his recommendations."

There are 2 fireplaces in the property, one in the lounge, one in the dining room which shares an internal wall with the kitchen, which is the wall that one of the fireplaces is on. The full fireplace is there and the full chimney stack is there going all the way up to the roof.

So I have absolutely no idea what they are talking about. I've sent a floorplan and internal pictures of all of this to the lady from HSBC and she is as confused as I am and is asking the valuers to be a bit more specific. :o

Are the stacks and fireplaces there on the first floor? Do they run internally? Is the stack in the loft still there?

usually a full advance retention is applied and a nil value until such a time that the chimney stacks are certified safe - this only matters in cases where the stack remains on the roof but the internal breasts have been removed thus causing an issue whereby the remaining roof stack is not sufficiently supported.
 
Soldato
Joined
18 Jun 2010
Posts
6,566
Location
Essex
Are the stacks and fireplaces there on the first floor? Do they run internally? Is the stack in the loft still there?

usually a full advance retention is applied and a nil value until such a time that the chimney stacks are certified safe - this only matters in cases where the stack remains on the roof but the internal breasts have been removed thus causing an issue whereby the remaining roof stack is not sufficiently supported.
It's a semi detached, there is a shared chimney on the party wall, that is there ground floor and up and in the loft and a chimney pot on the roof.

There is another on an internal wall, the fireplace is in the dining room on an internal wall, the otherside of that wall is the kitchen. The chimney breast again rises from ground, to first floor, through the loft and has a chimney pot on the roof.

Both fireplaces are there and both are blocked up but could be opened up and used again. I had my own Building Survey done and he didn't find any issue with either of them.
 
Soldato
Joined
18 Oct 2002
Posts
13,998
Location
Sandwich, Kent
It's a semi detached, there is a shared chimney on the party wall, that is there ground floor and up and in the loft and a chimney pot on the roof.

There is another on an internal wall, the fireplace is in the dining room on an internal wall, the otherside of that wall is the kitchen. The chimney breast again rises from ground, to first floor, through the loft and has a chimney pot on the roof.

Both fireplaces are there and both are blocked up but could be opened up and used again. I had my own Building Survey done and he didn't find any issue with either of them.
Maybe forward that full survey to HSBC. Just sounds like their surveyor cocked up.


We signed our exchange documents today. Going to hand them in to our solicitors tomorrow. Still got to wait on our buyers to sign theirs - but it's a step in the right direction. Hopefully not too long now.
 
Soldato
Joined
12 Jul 2005
Posts
3,913
It's a semi detached, there is a shared chimney on the party wall, that is there ground floor and up and in the loft and a chimney pot on the roof.

There is another on an internal wall, the fireplace is in the dining room on an internal wall, the otherside of that wall is the kitchen. The chimney breast again rises from ground, to first floor, through the loft and has a chimney pot on the roof.

Both fireplaces are there and both are blocked up but could be opened up and used again. I had my own Building Survey done and he didn't find any issue with either of them.

yep sounds like a mistake - HSBC use in house surveyors unlike most lenders
 
Soldato
Joined
20 Dec 2004
Posts
15,765
Survey booked in for the 3rd, the ones I spoke to were pretty busy. Waiting on initial paperwork from solicitor....and the fun begins all over again.

Initial purchase is back on the market at the same price as before lockdown. Can't see them getting that price any more, but it's a pretty niche property so maybe they get lucky.
 
Soldato
Joined
4 May 2007
Posts
9,347
Location
West Midlands
£1000 legal fees to sell my property. Does that sound about right?

From a local solicitor my EA recommended (note, he didnt recommend it for commission as he has to recommend some crap online outfit)
 
Associate
Joined
31 Jul 2009
Posts
342
Location
Reading
£1000 legal fees to sell my property. Does that sound about right?

From a local solicitor my EA recommended (note, he didnt recommend it for commission as he has to recommend some crap online outfit)

Sounds reasonable. You could probably get slightly cheaper but a good recommendation can save you time and hassle. Local is also good for all the form signing that's required. Posting is a PITA.
 
Soldato
Joined
18 Oct 2002
Posts
13,998
Location
Sandwich, Kent
£1000 legal fees to sell my property. Does that sound about right?

From a local solicitor my EA recommended (note, he didn't recommend it for commission as he has to recommend some crap online outfit)
Including VAT? Does that include the other fees?

Our quote for sale charges was in total £1104 including VAT. Or £795 if you don't include VAT and other fees.
 
Soldato
Joined
4 May 2007
Posts
9,347
Location
West Midlands
Sounds a little expensive to me. Think mine was £600-£700 in legal fees to sell.

Much more expensive to buy.

Sounds reasonable. You could probably get slightly cheaper but a good recommendation can save you time and hassle. Local is also good for all the form signing that's required. Posting is a PITA.

Including VAT? Does that include the other fees?

Our quote for sale charges was in total £1104 including VAT. Or £795 if you don't include VAT and other fees.

To summarise ive had two roughly similar. Seems reasonable? (2.5k of that price is if i buy a 550k house :eek:


Sale
Conveyancer fees £800.00
VAT thereon £160.00
Conveyancer administration fee re bank transfert o redeem your mortgage (inc VAT £36.00
Disbursements
Official copies fee £6.00
Total re sale £1,002.00


Buy
Purchase of Freehold Property
Estate agent fees £950.00
VAT thereon £190.00
administration fee re bank transfert o remit purchase monies to seller’s solicitors (inc VAT) £36.00
Disbursements
Local search fee £115.20
Drainage search fee £63.60
Environment/flood search fee £61.20
Registration fee £270.00
Stamp Duty Land Tax (£550k price) £2,500.00
Bankruptcy search fee (£2.00 per person) £4.00
Land Registry search fee £3.00
Total re purchase £4,193.00
 
Soldato
Joined
7 Nov 2009
Posts
19,798
Location
Glasgow
Found the perfect house.... It's offers over £225k, we could go to £230k, maybe £235k. It's hard to tell what the valuations are actually like right now though.

We have spoken about buying a house next year but I think we're happy to do that sooner. We ideally didn't want to go above £200k, but there doesn't need to be a penny spent on this place so can justify the extra albeit it is a good bit extra which is putting me off a bit.

Houses are selling stupidly quick at the minute it seems. We're in a complicated position where I own a flat I rent out, but I will be able to cover my half (7.5% of 15% deposit) with cash and savings. We want to sell her property (where we live), which has equity in it which will cover her half of the deposit and give her some left over.

We haven't even got hers valued, or started the process to sell (we weren't planning to do this until next year) but hers will sell incredibly quickly I'm sure.

As I've got my property, I'll be stung for around £9k in stamp duty (or whatever the Scottish equivalent is up here) but I can borrow that from my mother - which I will pay back once I sell my property early next year - which was the plan anyway(you can claim back the tax if you sell your property within 18 months).

I've got a mortgage in principle from our current lenders, but just wondering if trying to get a property ready for sale, and buy somewhere else super quick is a disaster waiting to happen.

Part of me thinks, there's no issue in viewing. And it doesn't cost anything to put an offer in on a property and see what's what (I suspect it'll go to a closing date anyway). However, the other part of me thinks that it's just a bit too much and I'm rushing in very quickly.

Mmmm...
 
Soldato
Joined
20 Dec 2004
Posts
15,765
Found the perfect house.... It's offers over £225k, we could go to £230k, maybe £235k. It's hard to tell what the valuations are actually like right now though.

We have spoken about buying a house next year but I think we're happy to do that sooner. We ideally didn't want to go above £200k, but there doesn't need to be a penny spent on this place so can justify the extra albeit it is a good bit extra which is putting me off a bit.

Houses are selling stupidly quick at the minute it seems. We're in a complicated position where I own a flat I rent out, but I will be able to cover my half (7.5% of 15% deposit) with cash and savings. We want to sell her property (where we live), which has equity in it which will cover her half of the deposit and give her some left over.

We haven't even got hers valued, or started the process to sell (we weren't planning to do this until next year) but hers will sell incredibly quickly I'm sure.

As I've got my property, I'll be stung for around £9k in stamp duty (or whatever the Scottish equivalent is up here) but I can borrow that from my mother - which I will pay back once I sell my property early next year - which was the plan anyway(you can claim back the tax if you sell your property within 18 months).

I've got a mortgage in principle from our current lenders, but just wondering if trying to get a property ready for sale, and buy somewhere else super quick is a disaster waiting to happen.

Part of me thinks, there's no issue in viewing. And it doesn't cost anything to put an offer in on a property and see what's what (I suspect it'll go to a closing date anyway). However, the other part of me thinks that it's just a bit too much and I'm rushing in very quickly.

Mmmm...

Down here at least, agents will want you to have a buyer for your current place before they'll accept an offer. Nothing stopping you being a bit creative with the truth of course....
 
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