Soldato
Apparently our buyers buyer is "hanging on by a thread". I fear it will be this week now that it all collapses
The nervous wait to exchange....
- Thread starter noj
- Start date
we're on the run up to buying a property that is going through probate. everything lined up and in order apart from the mortgage, where they're currently working about a month behind schedule... 
hopefully it will be in place by next week to move at end of Oct.
hopefully it will be in place by next week to move at end of Oct.
Caporegime
Soldato
Ours has picked up pace, hoping to exchange today and then complete this Friday. Really looking forward to it now. Managed to move a load of stuff into the new double garage this weekend gone, it’s going to make Friday much easier.
Soldato
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- 27 Aug 2005
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You have access before exchange and completion?
Soldato
About 3 weeks ago. The guy I'm buying off essentially has no forward chain. Having only ever bought 1 flat before the entire process is outside my comfort zone and I don't have an intimate knowledge of it all so it does make me anxious, but seeing as how everybody I'm working with on it beleives so I do not see why not. My solicitor got my paper work Friday and already had started searches etc. Main thing for me now is to get the surveys and checks done, waiting for a call from the bank around that
- GP
Soldato
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I would think you would be in before Christmas, im on a very similar timeline.
Soldato
Lets hope so for both of us then! While I'm not super desperate for that particular time, I'm staying with my GF and her Mum between houses so I don't want to be there for too long. Not to mention getting in to furnish the place
- GP
Soldato
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You're in a slightly better position then me in that you could decorate the place whilst still staying at your GF mums. The earliest i can move in would be Dec (My ERC drops from 3% to 2%).
So after going all out on two properties and being miles away (went for around 33% above valuation!), we've found one that is 100k cheaper. It's far from ideal, but it would do us and gives us a nice budget to do it up (I'm thinking a 15m extension). Also, it means I can keep my flat which I rent out. I think we'll go for it, but no idea what to offer. It's nothing like the other two where we were happy to go all out. Think we'll go for 10% above valuation.
I’m in a right pickle. Didn’t get a house I had my heart set on, which IMO was priceless, despite being the high bidder because of a cash buyer in rental who also bid significantly over the asking price (what a total ****).
Houses on the unicorn street, particularly the one ultra-unicorn side of the street I’m interested in, are exceptionally rare - less than one sale per year. Ultra ultra unicorn. My view is that the location is so good, nobody moves unless for retirement purposes, so the perceived asking prices are way, way undervalued (laughably so).
A second house has arrived on the market. Nothing else has come close to unicorn road - so I need unicorn 2 at almost any cost.
I’ve put in a substantially higher bid than asking for unicorn 2 and it’s now at best and final. I seriously doubt anyone has beaten by initial bid at first instance but I would be devastated to find out I lost the house because of a lower offer from a cash buyer in rental again.
Agents are being extremely unhelpful.
As Alex alluded to above, I’m in danger of not only peeing cash up the wall but also bidding way over the valuation price. Trying to come up with a figure that maximises chances of success but minimises lost cash and valuation issues. The most painful thing is that the asking price is under budget, so I could go nuclear and even go 10% over if I wanted to... not sure I’d be able to sleep at night though
Horrible!
Houses on the unicorn street, particularly the one ultra-unicorn side of the street I’m interested in, are exceptionally rare - less than one sale per year. Ultra ultra unicorn. My view is that the location is so good, nobody moves unless for retirement purposes, so the perceived asking prices are way, way undervalued (laughably so).
A second house has arrived on the market. Nothing else has come close to unicorn road - so I need unicorn 2 at almost any cost.
I’ve put in a substantially higher bid than asking for unicorn 2 and it’s now at best and final. I seriously doubt anyone has beaten by initial bid at first instance but I would be devastated to find out I lost the house because of a lower offer from a cash buyer in rental again.
Agents are being extremely unhelpful.
As Alex alluded to above, I’m in danger of not only peeing cash up the wall but also bidding way over the valuation price. Trying to come up with a figure that maximises chances of success but minimises lost cash and valuation issues. The most painful thing is that the asking price is under budget, so I could go nuclear and even go 10% over if I wanted to... not sure I’d be able to sleep at night though
Horrible!
Soldato
Definitely, luckily the vendor has really done a good job sorting it out, the interior basically needs nothing doing. Ill probably just clean the carpets with one of those wet vacs and im good to go. I dont have a lot of stuff myself (More space now than I know what to do with) and 90% of my furniture will be new ("High quality" IKEA stuff for the moment!) so atleast i can move stuff around and reposition things easily.
That's unfortunate about the ERC at all, but atleast its dropping.
- GP
Soldato
I always find agents to be hit and miss. Some are a right pain.
Soldato
I always get the survey done first. I tell the solicitor to wait for the report first just in case. Then, proceed if all ok.
Soldato
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- 1 Jul 2007
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Viewed a property today and submitted an offer on the drive home. Chances are won't hear today either, unless seller is desperate for a sale or happy enough with price.
I don't think its enough to secure but allows some increase if it goes to closing date.
I don't think its enough to secure but allows some increase if it goes to closing date.
Soldato
The Wife and I were due to sign the paperwork tomorrow, on our next home - but the Solicitor for the buyer has only just come back with a list of demands to have our asking price reduced; I cannot help but feel that this is quite a dirty under-handed technique to wangle some money off!
Everything had been going great so far- other than "the searches" which took in excess of 6 weeks to all come back! And we were looking to be sitting pretty - FTBs going for our place, and the owner of the house we bought, are both retired - so buying their next place with cash. Our buyers had even footed the cost of having a separate electrician's report done - something quite rare according to our Estate Agent.
It seems though, that the Homebuyer report the FTB's had purchased, may have had a fair amount of copying and pasting done - as there are a few glaring issues with it; the biggest is that they claim he have wooden fascias that will need to be repaired/replaced - to which the Solicitor for the FTB's is asking for over a grand off! The only issue is that we are mid-terrace, have bricks all the way up to the roof, and have no fascias anywhere....
I have responded to our Estate Agent to advise them we will offer £1,000 off as a goodwill gesture, and will purchase any necessary indemnity policies.
Hey ho, I guess we are back to the nervous wait to exchange
Still no news!
We opted to just offer the money off, as losing the sale, would likely mean we'd lose more than the reduction - but nothing..... it's as if we've offered it to a brick wall; as zero progress has been made.
It seems like an endless stream of calls to our Estate Agent and Solicitor now, trying to chase for progress - all the while, my Wife is nearing her due date, and the people we are buying from, are being told they might lose their next house!!
I really wanted to make leaving our first home a bit special to the FTB's, leave them a nice card, a bottle of something and some glasses (the Wife hated) - but I'm tempted to poo in all the toilets and leave them festering now.
Don't think I have ever felt so helpless and out of control of something...
Soldato
The waiting is the worst part. It causes so much stress and anxiety.
Where are you looking? I think you're in Glasgow?
Soldato
This. I don't mind the time or doing things, but going days without any tangible update because stuff in the background is being done is insufferable
- GP
Soldato
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- 1 Jul 2007
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Commutable to Edinburgh, currently in Edinburgh.
This one is a push to be commutable but as rightmove is set to 30miles radius it brought it up, I think the true distance/time would put poeple off although it then brings in the Perth/Dundee market (house outside of Cupar).
So after our offer, there are 2 notes of interest and 30 viewing requests. We were the first to arrange a viewing but not the first to actually view.