Same. Money has all been transferred. Waiting to hear from solicitors if it's going to happen to today or not.
Not sat in my car at least, renting at the moment so I'm just sat here doing some non-taxing WFH.....waiting....
The nervous wait to exchange....
- Thread starter noj
- Start date
Same. Money has all been transferred. Waiting to hear from solicitors if it's going to happen to today or not.
Not sat in my car at least, renting at the moment so I'm just sat here doing some non-taxing WFH.....waiting....
Soldato
Exchanged on Monday, completion date was today. Still waiting in a morrisons cafe.
Solicitor says waiting for funds to move along. Joke man, we have a 5.month old and struggling.
Solicitor says waiting for funds to move along. Joke man, we have a 5.month old and struggling.
Soldato
- Joined
- 27 Aug 2005
- Posts
- 3,615
I feel better knowing there are at least two other people enduring this stupidity today
Harsh but true
Soldato
Ah the good old English House buying / selling system 
Could it actually be any worse?
Could it actually be any worse?
Soldato
Exchanging today. Gave permission to the solicitors to exchange at 10am . 4pm now and still not exchanged. Getting nervous now.
Soldato
Exchanged failed. All solicitors blaming each other saying they couldn't get in contact. This date had been planned for 2 weeks and all solicitors had the deposits and authorisation.
Sucks
Waiting to hear if I exchanged or not. Solicitor's phone goes straight to voicemail now, office is closed.
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Soldato
Finally exchanged today! Supposed to have exchanged yesterday but my solicitor went silent. The sellers rang me yesterday evening and said that they didn't even know about he potential exchange... they also asked if I'd agree to an additional 'covid ' rider that their solicitor had just presented them with. Their solicitor had presented it to mine over 3 months ago and I had agreed to it then
There must be a better way than this.
There must be a better way than this.
Soldato
Just got in to bed, in our new home. What a turbulent day that was. Chasing solicitors, wondering when if at all we would complete and get the keys. 4pm finally got told we can get keys. We finally left the morrisons cafe after 3.5 excruciating hours with a 5 month old baby. Just glad our 5yr old wasn't with us or we'd have torn each of us a new one.
Wow, there's a lot more work needed than I thought now seeing it empty. The kitchen we knew was bad and needs ripping out but some of the stairwells and bedrooms need a fair few repairs, nothing major but a few k at least. Thanks to no stamp duty we got a tidy 8k equity return after all fees etc done from sale/purchase.
Feels very strange right now but also amazing our 5mth old has own room. We can roll over in bed without fear of waking him up.
And the best, no road noise. We came from literally being by a busy main road to quiet street with a main road about 400yds away. I can barely hear any cars with window open
Wow, there's a lot more work needed than I thought now seeing it empty. The kitchen we knew was bad and needs ripping out but some of the stairwells and bedrooms need a fair few repairs, nothing major but a few k at least. Thanks to no stamp duty we got a tidy 8k equity return after all fees etc done from sale/purchase.
Feels very strange right now but also amazing our 5mth old has own room. We can roll over in bed without fear of waking him up.
And the best, no road noise. We came from literally being by a busy main road to quiet street with a main road about 400yds away. I can barely hear any cars with window open
Soldato
Grats! I've moved a few times always takes a bit of getting used to sleeping in a totally different house.
Associate
How do you get over the anxiety of moving and selling house?
Selling our house to move into our dream house, only been about 3 weeks since we accepted on ours and had an offer accepted on another but just can't help thinking something is going to go wrong, especially as recently better houses then ours on our road have suddenly come on the market for not much more worried our buyers will change there minds. Sleepless nights already and got at least 3 months plus of this.
Selling our house to move into our dream house, only been about 3 weeks since we accepted on ours and had an offer accepted on another but just can't help thinking something is going to go wrong, especially as recently better houses then ours on our road have suddenly come on the market for not much more worried our buyers will change there minds. Sleepless nights already and got at least 3 months plus of this.
Set your expectations. Don't get emotionally invested in the property.
The process is set up to fail. Expect that. Be pleasantly surprised if it does happen.
I had an offer accepted early January. Bailed on that purchase in August when it became clear someone in the chain wasn't interested in completing. Found another property, and as you can see from recent posts, it was meant to complete yesterday, but we didn't even manage an exchange. Whole chain had their lives packed up in moving vans ready to go.
Our seller is probably going to go into labour over the weekend, so who knows what is going to happen.
There's still absolutely no legal commitment from anyone in the chain to go through with the transaction.
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Man of Honour
After the sellers EA and Solicitor chasing us relentlessly since our offer in July, insisting the seller were desperate to move ASAP, and us spending a bit on private searches and indemnities to grease the wheels - our solicitor approached theirs about exchange dates yesterday with everything in hand - only to be told "they are nowhere near exchange".
I want to get angry and stamp my feet, but I have lost the will frankly.
I want to get angry and stamp my feet, but I have lost the will frankly.
Associate
Congrats @Liquid_Entity hope you enjoy your new home.
Hope you get yours sorted @mid_gen
@Amplus our purchase and sale broke down this week with the rest of the chain exchanging and completing next Thursday. We were so close. After three months all searches done, contracts signed ready to exchange we simply couldn't get one outstanding enquiry sorted. The stress this past two weeks has been unbelievable but I'm glad its all over. The wife and I have decided to stay put for now. See how bad the non-deal Brexit will be and how our economy will be after this Covid situation normalises (if it ever does). As mid-gen says don't get emotionally invested in the property and let it all happen. If it happens great, if it don't move on.
Hope you get yours sorted @mid_gen
@Amplus our purchase and sale broke down this week with the rest of the chain exchanging and completing next Thursday. We were so close. After three months all searches done, contracts signed ready to exchange we simply couldn't get one outstanding enquiry sorted. The stress this past two weeks has been unbelievable but I'm glad its all over. The wife and I have decided to stay put for now. See how bad the non-deal Brexit will be and how our economy will be after this Covid situation normalises (if it ever does). As mid-gen says don't get emotionally invested in the property and let it all happen. If it happens great, if it don't move on.
Sorry to bump, but can anyone assist with the below?
Congrats @Liquid_Entity!
Speaking of searches, I need a little advice regarding the results from the flood section if possible.
2.01 River and Sea Flood Risk - PASS
No risk of flooding from River or Sea within 25 metres of the property.
2.02 Surface Water Flood Risk - PASS
The property is located 3 metres from an area where the surface water flood risk is low to moderate.
2.03 Groundwater Flooding - PASS (WITH CONSIDERATIONS)
The property is located within 5 metres of an area that has at least a 1% annual chance of peak groundwater levels reaching close to the ground surface. Within this zone there is a high risk of groundwater flooding to subsurface assets and an additional possibility of local ground water emergence.
CONSIDERATIONS: As part of our commitment to facilitating property transactions, and pursuant to Law Society good practice guidance, we offer an affordable manual flood risk review service to help where a ‘Further Action’ has been identified in this initial flood assessment. The cost of this review is £150+VAT.
2.04 Surface Water Features - PASS
The Ordnance Survey Map indicates that the property is not located within 250 metres of a body of surface water, such as a stream, river, canal, reservoir, lake or pond.
2.05 JBA Floodability Rating - PASS
The JBA Floodability Rating at this location is Green. Green indicates that the likelihood of flooding is Low.
2.06 Historic Flooding - PASS
Data provided by the Environment Agency indicates that the property is not in or within 250 metres of an area that has flooded in the past. This includes all types of flooding, including Groundwater.
The overall floodability rating of the property is green/low, which is great, but this seems to contradict the result of 2.03 groundwater flooding, even though it was taken into consideration (as confirmed in the report and when I called them). There has been no history of flooding at the property nor within a 250 metre vicinity, as confirmed by the Environment Agency in 2.06. We asked our solicitor to query the sellers to see if there have been any instances of flooding at the property but we are still waiting for the response.
I checked the Gov flood map for planning and the area is not within flood zone 2 or 3. I also checked the Gov long term flood risk for an area, which shows surface water as medium risk + rivers and sea as very low risk. Upon closer inspection of the map, there is zero high risk: depth on the street or property, a tiny amount of medium risk: depth on the street but not the property and a larger amount of low risk: depth on the street but again not the property (which looks like below 300mm).
Finally, we posted on the local Facebook group asking residents for details of any historic flooding events. The majority of responses, even from people who live on the street we're buying on, all said that there have been no incidents of flooding in recent history. A couple of residents mentioned that during extreme storms, water can pool on the street but it does not flow over the kirb and it tends to drain quite quickly. This seems to align with what is shown on the long term flood risk map:
High risk:
Medium risk:
Low risk:
Key:
Firstly, I'm trying to figure out if the above is genuine cause for concern? Secondly, depending on the answer to the first question, whether it's worth going for the flood risk review at a cost of £150 + VAT?
I just need another set of eyes as I'm starting to lose my mind with this!
Congrats @Liquid_Entity!
Soldato
What's the deal with buildings insurance following exchange... I've been told it is a condition of my mortgage, but the first 3 insurers I've phoned won't start a policy until I move in. Though my understanding is that if the house burns down now I've exchanged I'll be responsible for re-building it.
Is there anything I'm missing when trying to get insurance?
Is there anything I'm missing when trying to get insurance?
Soldato
- Joined
- 27 Aug 2005
- Posts
- 3,615
Once you exchange you have a vested interest in the property so it will need insurance. Have you tried speaking to your current insurers?