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The nervous wait to exchange....

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

  1. Skillmister

    Capodecina

    Joined: 3 Oct 2009

    Posts: 19,606

    Location: Wales

    That's ironic because you also spend a lot of time discussing things that have no effect on you, but I suppose that's the point of a forum..
     
  2. andicole0

    Soldato

    Joined: 12 Sep 2005

    Posts: 6,202

    Location: Robertsbridge

    Yes that's me.
    Andi.
     
  3. Fluke?

    Wise Guy

    Joined: 28 Mar 2006

    Posts: 1,017

    Location: South Glos

    Was supposed to have the valuation surveys done on both the flat we're selling and the house we're buying done on Thursday. Had a call from the EA 1st thing on Thursday saying the surveyor for our flat was literally in the office about to pick up the keys when he had a call and was told to stand down as the survey had been cancelled!
    Seems that the buyers mortgage lender has spotted something they're not happy with in their application and as it stands their broker is now appealing, whatever it was. :(
    Annoyingly it was too late by then to cancel our survey and have potentially just lost £250 as we wanted a home-buyer survey, which presumably was carried out at the same time as it was all done through Nationwide.

    At least I managed to get hold of the solicitor and got them to put the case on hold for now so no losses there!

    Will hopefully find out next week if its down the swanny or if they buyers have managed to sort their mortgage.
     
  4. andicole0

    Soldato

    Joined: 12 Sep 2005

    Posts: 6,202

    Location: Robertsbridge

    @Fluke? , nasty feeling. We had someone at the start of our chain when we sold our last house lie on their mortgage application, it was spotted 2 weeks before exchange! EA managed to find a replacement buyer but cost us 2 months or so. Hence the thread title I guess!
    Andi.
     
  5. Ross1234

    Mobster

    Joined: 29 Apr 2007

    Posts: 4,843

    Location: London

    Had an independent surveyor look at it, turned out to be a leaking gutter. The wall is soaked through though, he says it will take a year to dry out! I'm sure if I got one of these free survey companies they would be recommending all sorts of expensive fixes. Hopefully can exchange next week fingers crossed.
     
  6. rah^

    Hitman

    Joined: 27 May 2007

    Posts: 882

    Location: Leeds!

    Certainly!

    Its just that frustration that its sat with solicitors who you know are doing stuff behind the scenes but unable to really influence it!
     
  7. i5aces

    Hitman

    Joined: 29 Jan 2012

    Posts: 678

    Location: Andover

    I have finally had an update on my purchase, we are close to exchange, and all searches, surveys and queries are complete, the solicitor has sent conformation to the mortgage company I am using Forces HTB for my deposit and is waiting for conformation their still happy to proceed, providing we get that we can request funds to complete a week on Friday. Even though they know I'm using HTB and for how much, part of me is terrified that they could still change their mind, the balances of my credit cards has gone up slightly since I initially applied due to an unforeseen car repair bill.
    I just hope they hurry up with their response so we can complete, it is true what they say "buying a house is stressful"
     
  8. Fluke?

    Wise Guy

    Joined: 28 Mar 2006

    Posts: 1,017

    Location: South Glos

    Fingers crossed i5aces!

    After our valuation cancellation last week I've had a snippet of info and it seems the problem is something to do with our buyers income, so whether they filled in the incorrect amount or whatever, god knows. Should have an answer by Wednesday hopefully.

    In more annoying news, the solicitors wanted 3 years worth of ground rent invoices. Emailed Simarc (freeholder) last week asking for this info and the thieving profiteering scumbags want nearly £300 to provide me with a sodding single page pdf with 6 payments. I can understand an admin fee or something but this is redunkulous. Oh, I could pay 100 quid more for an expedited response!!!

    Frustrated that I've not kept all of the emails etc over the years tbh but this really does take the urine imo.
     
  9. rah^

    Hitman

    Joined: 27 May 2007

    Posts: 882

    Location: Leeds!

    It cost me nearly the same for my ground rent stuff from the freeholder, what annoyed me more was they said it was be between 5 and 7 working days to provide and 15mins later it was in my email inbox...
     
  10. Marvt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 14,585

    Location: Higher Walton

    Woo, our buyers have sold their house a second time after the first ones pulled out last week so hopefully things can work out well this time.

    Now to just wait and pray our sellers to find something. I'd like to be in by June.
     
  11. Regy53

    Mobster

    Joined: 11 Jun 2011

    Posts: 3,717

    Location: Northampton

    Well were 3 weeks in after going under offer and have hopefully just found a house, offer today.

    It was sold before but the buyer fell through so back on the market, it seems a interested party from before has made a offer too but may not be as strong as us in position.

    previously sold for 490k, now up at 500k, tempted to offer 490k

    Fingers crossed, we are going from a 3 story 3/4 bed ex council house with 1200 sq ft to a 4 bed detached with double garage and a unreal kitchen diner with 2000 ish sq ft +garage

    Heres hoping
     
  12. koolpc

    Capodecina

    Joined: 2 Dec 2004

    Posts: 11,939

    Location: Under The Desk, Wales

    Looks likely our completion will be a week friday.
     
  13. SMN

    Wise Guy

    Joined: 2 Nov 2008

    Posts: 2,459

    Location: The ether

    Got a weird one at the moment, and I want to check with people to see if they've had this before also?

    We found a house we liked in early Jan (i.e. 2nd Jan), made an offer and had it accepted instantly. We then marketed our property and had 15 viewings in 6 days, 5 offers including 3 over - one significantly over (almost 7%), which we subsequently accepted. The buyer hadnt sold or marketed their property, but we didnt see that as an issue as the person we were buying from hadnt bought a property either.

    Fast forward a month; the house we were buying has now fallen through therefore we went out to view another house, liked it and put an offer in. We received an answer that 'the number is acceptable, but they want the chain to close within the next 4 weeks else they'll look to put the property back on the market'? Obviously our buyer is doing all they can to sell, and has already dropped their house price by £50K to get it moving, so what else can we do? Has anyone been in this scenario before? The house we are buying is over £500K therefore they'll always have a chain (unless theres a very flush FTB!), so i'm thinking this is just them trying to create artificial pressure to hurry people along?
     
  14. Marvt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 14,585

    Location: Higher Walton

    I think 4 weeks seems fair to me. Whilst chains are inevitable, 4 weeks is long enough generally to get a house sold provided it's priced right. Particularly as generally people like to only sell to people who've had an offer accepted so they know there's a good chance things will proceed.

    Our buyers house sale fell through and after 2 weeks we started to have discussions about how long we should wait to re-list.
     
  15. Jez

    Caporegime

    Joined: 18 Oct 2002

    Posts: 32,353

    Just string it along, they wont pull out and remarket if you are 4 weeks in and only 4 weeks away for example, and they are into a legal bill too at that point. They'd serve to do nothing but delay things to de-rail the deal at that point.
     
  16. i5aces

    Hitman

    Joined: 29 Jan 2012

    Posts: 678

    Location: Andover

    Just been informed everything is good to go and as of Friday 23 Feb I should finally be a homeowner
     
  17. Woogie

    Mobster

    Joined: 18 Nov 2011

    Posts: 2,561

    Location: Caddington

    Congratulations.
     
  18. cainer

    Man of Honour

    Joined: 9 Jan 2010

    Posts: 12,952

    when you say sold, do you mean having the keys? that seems pretty quick, i was a cash buyer on an empty property with no chain and that took 2 months from offer being accepted to having the keys in my hand
     
  19. Regy53

    Mobster

    Joined: 11 Jun 2011

    Posts: 3,717

    Location: Northampton


    Well this ended well. Not

    Made my offers at 10 am

    at 10.30 my selling estate agent called, weird i thought, I was in there two days ago as i was passing just making sure all good. My Buyers buyer who was the bottom of the chain (rented) has pulled the plug after 4 weeks.

    Awkward confo with the estate agent we are trying to buy with that i had offered with a hour before.

    Looks like we will lose the house we want and took us 3 / 4 weeks to find

    Yay
     
  20. Marvt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 14,585

    Location: Higher Walton

    Sorry no I mean to get an offer accepted with mortgage sorted.