The nervous wait to exchange....
- Thread starter noj
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Associate
Hard to imagine how frustrated some of you guys are, I always had worries going through the process. I have just purchased a house and this was my timeline, had the offer on the house accepted on the 19/08/2020, mortgage application with halifax put in on the 21/08/2020. mortgage application approved on the 22/08/2020 and I had the keys on the 25/09/2020. This was unbelievably quick and I feel so lucky in this current pandemic.
Soldato
Wow that is crazy, were you a FTB or was this in a chain?
Associate
Was second house purchase, house was empty and I was renting due to a divorce, so no chains.
Soldato
Those are indeed timelines to make almost anybody jelous
- GP
- GP
Soldato
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So our property we buying was valued at 4% lower than agreed price, so we have now agreed with the seller to split the 4% between us which means we will be overpaying by £8k but we're not worried as we plan to stay there for a while.
Soldato
Made an offer and had it accepted at last, hooray!
Congrats. Is it on the unicorn street?
Ah thank you for asking and for remembering!
Alas, it is not on the same unicorn street, but other than unicorn road having gardens not backing onto anything, the road itself for the one I’m buying is actually nicer. It’s the same style house with slightly bigger rooms (20cm wider lounge etc). Really nicely done out, better than the unicorns, and had my offer accepted at £70k less than what I bid on the unicorns.
My compromise is that the house does back onto another and the house opposite (garden side) has a hoooge dorma window in their loft that is very imposing, but a well placed tree should sort it out... I hope!
Soldato
Well as many of you predicted my sale has fallen through unless my seller sells. They have put their house up over its value (had circa 6 viewers in 6 weeks) and now want me to match any price reduction to get their's sold.
Safe to say I've put it back on the market due to that and the fact they haven't paid £50 to their solicitor to send back the sale documents. I.e.they don't want to "risk" anything other than my time.
Rather than "offers over 325k" ive relisted at 340k guide price (previous sale was 350k and had a couple offer in 330s). Does anyone know if I later reduce to "offers over 325k" a number of weeks later on rightmove will it pull its listing back to "reduced"?
Safe to say I've put it back on the market due to that and the fact they haven't paid £50 to their solicitor to send back the sale documents. I.e.they don't want to "risk" anything other than my time.
Rather than "offers over 325k" ive relisted at 340k guide price (previous sale was 350k and had a couple offer in 330s). Does anyone know if I later reduce to "offers over 325k" a number of weeks later on rightmove will it pull its listing back to "reduced"?
Soldato
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There could be potential that your property value is lower than the guide price so just bear that in mind
Soldato
Yeah to be honest id consider 330 to 340, just figure id put a guide as i was almost getting too much interest at offers over 325 when it came on and a load of offers. More difficult now i have a puppy id take out during viewings etc.There could be potential that your property value is lower than the guide price so just bear that in mind
Soldato
Anywhere from 3 to 70 working days depending on the local authority.
Soldato
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Think my LA took around 2 weeks but we are still awaiting to hear back from environmental search
Soldato
Environmental searches are returned instantly as the data is already in existence the search just pulls it through to a report unlike local authority/water authority where they have to provide the answers.
Get them to chase it up as sometimes the search providers fail to return it
Soldato
As you say if you can plant a tree in a strategic position then it sounds like you got a better house overall.
Expecting mine back this week, so six weeks.
Solicitor says some are taking 10+ weeks.
Associate
My buyers have paid for a homebuyers report on my property, having it done on Friday. Nervous about it for some reason.
It's an old Victorian terrace so half expecting something to crop up. Have a few hairline cracks (nothing major) on the exterior but other then that nothing I know of really. Something to worry about? Anything I can do before they come other then tidy the house to give a good impression to the surveyor?
It's an old Victorian terrace so half expecting something to crop up. Have a few hairline cracks (nothing major) on the exterior but other then that nothing I know of really. Something to worry about? Anything I can do before they come other then tidy the house to give a good impression to the surveyor?
Soldato
Tomorrow better be the day when we finally exchange !!!!!!!!!!!!
I've barely started this fun journey, and I'm having sleepless nights at the thought of spending my savings on the deposit. If I have to wait 10+ weeks in addition to the first set of paperworks, I'll be reduced to a puddle of stress.