The nervous wait to exchange....

[b0rn2sk8]

From my understanding there solicitors are actually quite responsive and have replied to my EA that they were awaiting payment from my buyers to open the case. It seems quite clear the hold up is with my buyers but the whole thing has left me very confused. I could understand if they were not going to make payment until there mortgage is approved but surely you would notify the EA on this. At the moment we're just playing a waiting game.

I’d be more worried about the buyers not being able to afford the house if they aren’t willing to start spending any money until they have an offer in hand. Especially when it’s only £2-300 deposit for a solicitor!

Suggests to me they are right on the edge of affordability or have had credit issues in the past which will raise flags.

Getting a mortgage for someone who is employed should be the easy and most straight forward part of your not trying to go beyond your means. Even for a self employed person it should be relatively easy if you have proper accounts and file tax returns that reflect your income.

 

[happy_2008]

I’d be more worried about the buyers not being able to afford the house if they aren’t willing to start spending any money until they have an offer in hand. Especially when it’s only £2-300 deposit for a solicitor!

Suggests to me they are right on the edge of affordability or have had credit issues in the past which will raise flags.

Getting a mortgage for someone who is employed should be the easy and most straight forward part of your not trying to go beyond your means. Even for a self employed person it should be relatively easy if you have proper accounts and file tax returns that reflect your income.

Literally just had an update from the EA, they are apparently awaiting for the mortgage approval to come through which should be next week. Apparently a desktop valuation was done on my property and they're are still keen but the buyers were unwilling to pay legals fee deposit to solicitor before mortgage was approved. I don't have a problem with this but all it takes is a quick 5 second email to let the EA know and everyone would be happy. Can't believe some people seriously

 

[Robi]

Literally just had an update from the EA, they are apparently awaiting for the mortgage approval to come through which should be next week. Apparently a desktop valuation was done on my property and they're are still keen but the buyers were unwilling to pay legals fee deposit to solicitor before mortgage was approved. I don't have a problem with this but all it takes is a quick 5 second email to let the EA know and everyone would be happy. Can't believe some people seriously

To be fair this is what we did, but we informed the EA that we were waiting for the mortgage approval to come through before making a firm commitment of paying a deposit or any formal cost.

 

[happy_2008]

To be fair this is what we did, but we informed the EA that we were waiting for the mortgage approval to come through before making a firm commitment of paying a deposit or any formal cost.

Exactly, its not hard to send an email or a quick call back but no they rather have the EA chase them everyday. Fingers crossed it all goes through.

Out of interest how much do you have to pay upfront to solicitors?

 

[Junglist]

We weren't even allowed to reserve the house we wanted without an agreement in principle and having done affordability checks at the very least

 

[mid_gen]

Exactly, its not hard to send an email or a quick call back but no they rather have the EA chase them everyday. Fingers crossed it all goes through.

Out of interest how much do you have to pay upfront to solicitors?

300 quid the last two solicitors, to cover the searches.

 

[Robi]

Exactly, its not hard to send an email or a quick call back but no they rather have the EA chase them everyday. Fingers crossed it all goes through.

Out of interest how much do you have to pay upfront to solicitors?

£220 for the searches. We also had to submit certified proof of address and identification, alongside evidence of deposit funds. Funnily enough, our solicitor never acknowledged receiving the certified docs and still 2-3 weeks overdue sending me a mobile number, so I can provide the password for the zipped file I sent via email containing account statements.

In the little experience I have with solicitors, rapid communication is not something I'd associate them with

 

[happy_2008]

I'm using a local solicitor and they have been brilliant! All communications sent via email mostly and they have a application where you can check progress etc.

 

[bayo000]

Almost 11 months since putting our flat on the market and us moving out to avoid chain we finally exchanged and completed on our sale today, would not recommend doing it on the same day. Didn't get the redemption statement from our mortgage provider till 4.30pm! Still managed to exchange on our purchase with completion next Friday so all good at the end but it was a stressful day.

 

[DampCat]

5 asking price offers on the house. Feels like we should have gone for the slightly higher valuation! One of them was subject to wether or not we'd be willing to leave the dining room table...

 

[Mr Jack]

5 asking price offers on the house. Feels like we should have gone for the slightly higher valuation! One of them was subject to wether or not we'd be willing to leave the dining room table...

There is nothing to stop you asking for sealed bid offers from all five and taking the highest.

 

[happy_2008]

How strange that they think the dining table is that important

 

[Buffman]

There is nothing to stop you asking for sealed bid offers from all five and taking the highest.

Was going to say, surely you asked this @DampCat

It is so odd people necessitating relatively low value replaceable items (e.g. Dining table) for a house sale

 

[Temujin]

The process is still ongoing, apparently the vendor is awaiting a flood report on a new build.
I'm confused why that sort of thing is not just ready to go on a new build, surely that makes sense that when it's built and sold a flood report is done!

 

[Bug One]

The process is still ongoing, apparently the vendor is awaiting a flood report on a new build.
I'm confused why that sort of thing is not just ready to go on a new build, surely that makes sense that when it's built and sold a flood report is done!

They're standard searches that get done on every house, probably a legal requirement. Some solicitors will do it last in-case the sale falls through during the surveys to save unnecessary expense.

Our move finally happened last Wednesday. Wow - what a nightmare. The day before our move, I woke up to the sound of running water. On investigation - our main water feed from the road had sprung a leak - and to top it off, the stopcock on the water meter was faulty as well - so I couldn't stop the water flowing! So, on the day I was supposed to be finishing packing and cleaning the house, I was dealing with emergency plumbers, and digging a massive trench in front of my house. Southern Water were actually really good and got the stopcock and meter replaced with 6 hours of reporting it. And an emergency plumber managed to get to us by 9pm (the day before moving!) and gave us a decent quote to replace the whole pipe. Fortunately, the new owners were very understanding - and we managed to complete on time. We put a covenant in place in the morning to cover the works - and on Saturday, the plumber came out and did the job.

So - that was the first disaster. Then came moving day. After how many months of beautiful weather - the removals turn up at 8:30am raring to go and the heavens open - it was absolutely pelting down. Of course, we had to do all of this with masks on, which got completely sodden. However, to their credit the removals guys did an amazing job and by 11:30 the house was completely empty and looked clean enough to hand over (note - we had no running water at this point!) We went down town while the solicitors did their stuff - and at 2:50 we got the key to our new home. The army of removers descended on the new place and after another very long day we had everything in.

And, that was only the start...

That evening, the heavens opened again, as did the wind. And the flat roof started to leak. Then, the boiler stopped working. Then the kitchen pipes started to leak.

Sooo -

I've fixed the plumbing of the kitchen sink - Sink operational again.
I've bled the huge airlock our of the radiators, emptied the silt from the condensate filter coalescer and cleared the blockage from the condensate drain pipe - Boiler working again.

Now, I've just got a roof to investigate. It only looks like it's leaking under heavy rain - so will wait for the sun to come out before tackling that one.

But despite all the teething issues - I'm still a very happy chappy.

 

[Mr Jack]

The process is still ongoing, apparently the vendor is awaiting a flood report on a new build.
I'm confused why that sort of thing is not just ready to go on a new build, surely that makes sense that when it's built and sold a flood report is done!

Because the report needs to be carried out by someone who works for you/your bank, not for the person who's selling you the building.

 

[GhostlyPea]

Looks great, well done! Mine seems to be going OK, according to estate agent and solicitor they both think my sale will be done by the end of the month, with any luck that is indeed the case. Offer was accepted on the new place, such an upgrade from a 1 bed ground floor flat to a 3 bed family home with a garden. New place:







Hopefully on target to getting in by Christmas

- GP

 

[happy_2008]

Looks great, well done! Mine seems to be going OK, according to estate agent and solicitor they both think my sale will be done by the end of the month, with any luck that is indeed the case. Offer was accepted on the new place, such an upgrade from a 1 bed ground floor flat to a 3 bed family home with a garden.
Hopefully on target to getting in by Christmas

- GP

When was your offer accepted?

 

[mid_gen]

There goes our early october exchange, LA searches not back til 14th. Pretty much assume that anything that will go wrong, will at this point.

 

[DampCat]

Was going to say, surely you asked this @DampCat

It is so odd people necessitating relatively low value replaceable items (e.g. Dining table) for a house sale

We asked for best and final offers by 4pm today, accepted Asking+25k!

... Keeping the dining table.