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The nervous wait to exchange....

Discussion in 'Home and Garden' started by noj, 3 Apr 2014.

  1. Skeeter

    Caporegime

    Joined: 8 Mar 2007

    Posts: 37,148

    Location: Surrey

    Do I have to actually "do" anything for the Exchange of contracts? Or will our solicitor just let us know it's all done?
     
  2. daz

    Capodecina

    Joined: 18 Oct 2002

    Posts: 24,014

    Location: Bucks

    You usually just go in to the solicitors to sign and send them the deposit payment (10%).
     
  3. iamtheoneneo

    Sgarrista

    Joined: 15 Mar 2010

    Posts: 9,721

    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.
     
    Last edited: 1 Aug 2016
  4. Skillmister

    Capodecina

    Joined: 3 Oct 2009

    Posts: 19,781

    Location: Wales

    Lol! :D

    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

    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.
     
  5. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 12,227

    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?
     
  6. Skillmister

    Capodecina

    Joined: 3 Oct 2009

    Posts: 19,781

    Location: 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.
     
  7. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 12,227

    Location: Under The Desk, Wales

    Thanks
     
  8. Skeeter

    Caporegime

    Joined: 8 Mar 2007

    Posts: 37,148

    Location: Surrey

    Done both of them already.
     
  9. Skillmister

    Capodecina

    Joined: 3 Oct 2009

    Posts: 19,781

    Location: Wales

    Nothing for you to do then (other than put insurance in place when its done), exchanging is a 30 sec phone call between solicitors.
     
  10. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 12,227

    Location: Under The Desk, Wales

    Dont the actual signed documents have to physically exchanged to be legal though?
     
  11. Skillmister

    Capodecina

    Joined: 3 Oct 2009

    Posts: 19,781

    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

     
  12. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 12,227

    Location: Under The Desk, Wales

    Ok, so still a hard copy exchanged then Ta
     
  13. Skeeter

    Caporegime

    Joined: 8 Mar 2007

    Posts: 37,148

    Location: Surrey

    Buildings insurance is sorted too.

    So sounds like all we need now is for the solicitors to do their job... oh god!
     
  14. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 12,227

    Location: Under The Desk, Wales

    Anything like mine keep kicking their arse! lol :D
     
  15. Ukadder

    Wise Guy

    Joined: 3 Aug 2004

    Posts: 1,752

    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.
     
  16. lee1101

    Wise Guy

    Joined: 18 Nov 2011

    Posts: 2,297

    Location: Kent

    Mortgage approved with HSBC today. Survey time :)
     
  17. Buffman

    Sgarrista

    Joined: 4 May 2007

    Posts: 7,891

    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)
     
    Last edited: 1 Aug 2016
  18. Bickaxe

    Sgarrista

    Joined: 8 Nov 2013

    Posts: 8,500

    Location: Fareham

    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.
     
  19. e36Adz

    Capodecina

    Joined: 28 Nov 2003

    Posts: 11,304

    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...
     
  20. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 12,227

    Location: Under The Desk, Wales

    Can you not ask friends and family