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The nervous wait to exchange....

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

  1. Marvt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 14,594

    Location: Higher Walton

    No. It’s not a bad looking area. Just the local pub/shops looked fairly run down really so nowhere we could walk to.

    Not that we walk places often though :p
     
  2. rah^

    Hitman

    Joined: 27 May 2007

    Posts: 883

    Location: Leeds!

    So all paperwork now done and awaiting exchange which should be done before 2nd Feb

    Just pushing the builder for a date so we can set completion aswell (or move into temp accomodation)
     
  3. Glaucus

    Man of Honour

    Joined: 11 Mar 2004

    Posts: 76,645

    Boo someone pipped me to the post on a shared ownership place. Next in line incase it falls through, but not holding out hope.
    Thought this house searching would be easy, how wrong I was.
     
  4. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 11,956

    Location: Under The Desk, Wales

    Been looking for months myself!
     
  5. Woogie

    Mobster

    Joined: 18 Nov 2011

    Posts: 2,561

    Location: Caddington

    It can and does happen. In fact we got beaten to our current house purchase but it fell through literally the day we sold our own house. If not there are plenty of houses out there, Just be sure to look at a house with your head as well as your heart as it can be dangerous and expensive if you go with just your heart.
     
  6. howler

    Wise Guy

    Joined: 5 Oct 2004

    Posts: 1,647

    Managed to sell my other half's house within just a week of it being on the market and for only £1k off asking price

    Kind of took us a bit by surprise as we missed out on the place we wanted so trying to hunt down somewhere else to buy now
     
  7. Glaucus

    Man of Honour

    Joined: 11 Mar 2004

    Posts: 76,645

    What would people put in as an offer, for a property that was reduced to £160k on 14/11/2017. A pretty long time for the market around here. (Can't see what it was up for before then). The thing is I can't see why it hasn't sold.
    Price looks reasonable, but 6k above my budget.

    I was thinking 145k starting and hoping they would take low 150s.
     
  8. adwol48

    Hitman

    Joined: 25 Dec 2008

    Posts: 853

    Location: Norwich

    Go with whatever you want the worst they can say is no and then you slowly increase your offer you'll often find the agent will lead you in a direction the seller is acceptable for them. We first offered 352 and went to 355.358 and finaly 360 the property was up for a guide price of 355 to 365 i think. Also dependant on how desperate the seller is our first house was up for 125 but we offered 115 and that was accepted because it had been on the market a while and the bloke wanted to sell quickly
     
  9. Woogie

    Mobster

    Joined: 18 Nov 2011

    Posts: 2,561

    Location: Caddington

    We offered 15k under current asking after they had reduced once and it was accepted.

    House was originally on for £530k, Reduced to £525k and accepted an offer at £510k. The worse they can do is say no and you increase, Just do not increase past your limit.
     
  10. Marvt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 14,594

    Location: Higher Walton

    Think is 15k under asking of £525k is only about 3% which i'd say was fairly reasonable. £15k off a £160k house is around 10%

    I'd probably go in at £150k, although as mentioned the agent will lead you.

    That's one thing i've found rubbish about these online agents, there's no middle man, you do your negotiations direct with the vendor so no way to gauge things.
     
  11. Marvt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 14,594

    Location: Higher Walton

    We've got a Second viewing on Saturday. The current owners say they moved in around 2012ish. However Zoopla and the Land Registry both have the last purchase being in 2008 for £130k

    Now i know the people in 2008 did quite a bit of work on the house, and then relisted it in 2011 for £275k, i'd really like to know what it sold for though as it's listed again for £275k and whilst i believe it's worth that i'd like to offer less as you'd expect. Just don't want to annoy the owners by going too low!

    Is there any other way to get sold property details?
     
  12. Jez

    Caporegime

    Joined: 18 Oct 2002

    Posts: 32,380

    Only non standard sales dont necessarily show on public LR data. The only real way that their story could be true is if they bought the house at auction, or from a bank, ie a repossession purchase. I believe these sales are not shown if they are deemed to be outside of usual market value.
     
  13. Woogie

    Mobster

    Joined: 18 Nov 2011

    Posts: 2,561

    Location: Caddington

    I know, I was using it as an example of what can be done rather than what should be done.
     
  14. Marvt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 14,594

    Location: Higher Walton

    Interesting cheers.

    The house was definitely listed as for sale and on the Rightmove advert from 2011 it shows as STC. Wonder if i could call the agents listed and if they'd have records that far back!

    http://www.rightmove.co.uk/property-for-sale/property-34056173.html
     
  15. adwol48

    Hitman

    Joined: 25 Dec 2008

    Posts: 853

    Location: Norwich

    Anyone ever heard of a solicitor needing 6 months bank statements as proof of source of funds i thought the mortgage lender would be the only people that needed these. Also just waiting on these purchaser solicitors to say all enquieries have been meet to satisfaction and still a couple of local searches outstanding on the property we are buying.
     
  16. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 11,956

    Location: Under The Desk, Wales

    Never heard of that myself. Had several houses. Not once a soly asked for those.
     
  17. Skillmister

    Capodecina

    Joined: 3 Oct 2009

    Posts: 19,607

    Location: Wales

    Yes we need to see them, but 6 months is excessive. Usually get 1-2. Maybe 3 months for high value cash purchases.
     
  18. i5aces

    Hitman

    Joined: 29 Jan 2012

    Posts: 678

    Location: Andover

    I had to provide 3 months bank statements to show where the deposit money came from, but it was easy to see when the money was there and where it came from, so maybe that's why no need to see 6 months. if you have a large sum that you have been saving a while they will want to trace it back
     
  19. Skillmister

    Capodecina

    Joined: 3 Oct 2009

    Posts: 19,607

    Location: Wales

    Its mostly to do with money coming from elsewhere (i.e gifts or drug sale proceeds :p) Obviously if you received your cocaine dividends a year ago then neither your solicitor or mortgage company would be any the wiser. But you'd be amazed how many people receive 5 figure gifts in the weeks or months before buying a house and forget to declare them :rolleyes:
     
  20. Woogie

    Mobster

    Joined: 18 Nov 2011

    Posts: 2,561

    Location: Caddington

    We had to do 6 months recently for our current purchase. As my wifes parents have given us some money we had to show proof of that being paid into an ISA, Then 6 months of statements for them to prove where that ISA money came from.