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The nervous wait to exchange....

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

  1. Buffman

    Sgarrista

    Joined: 4 May 2007

    Posts: 7,936

    Location: West Midlands

    Stamp duty extension to June confirmed (and 0% up to 250k to September) Hopefully I can exchange before march regardless..
     
  2. ChrisD.

    Caporegime

    Joined: 20 Sep 2006

    Posts: 25,929

    I wasn't aware of that, that's excellent news for me since we've only just had our offer accepted and the onward seller hasn't found a house yet, I don't think there's much hope to complete by the end of June, but end of September is a more realistic target and saves us some money.
     
  3. Buffman

    Sgarrista

    Joined: 4 May 2007

    Posts: 7,936

    Location: West Midlands

    Congrats! I just saw the post above. Have you sold your house? Surprised they accepted the offer if you haven't already sold (i made that mistake with my first buyer albeit I bet yours is priced realistically such that it will sell..)
     
  4. ChrisD.

    Caporegime

    Joined: 20 Sep 2006

    Posts: 25,929

    No, however part of our offer was that if we don't find a FTB or no chain buyer before they find an onward property, we'll let our house out and buy it as no chain. I'd rather not the latter, but thankfully we have enough in the bank to make it happen.
     
  5. The_Arbiter

    Wise Guy

    Joined: 2 Jul 2019

    Posts: 1,042

  6. Buffman

    Sgarrista

    Joined: 4 May 2007

    Posts: 7,936

    Location: West Midlands

    Great position to be in! I'm leveraged up to my eyeballs so couldn't even consider it on my onward purchase :D
     
  7. ChrisD.

    Caporegime

    Joined: 20 Sep 2006

    Posts: 25,929

    Ha, it’s not something we want to do ideally. We’d have to release a lot of equity and maybe go interest only on the BTL mortgage, plus the extra stamp duty etc etc. But we’ll do it if we have to.
     
  8. ash_scotland88

    Soldato

    Joined: 1 Jul 2007

    Posts: 5,363

    Fact is our garden isn't in the shade all day, and angle allows even more sun come the evening. Winter it's pretty bad but we're not out there when it's 0c, even now we're quickly regaining our garden to the sun.
     
  9. Delvis

    Caporegime

    Joined: 7 Nov 2004

    Posts: 29,048

    Location: Buckinghamshire

    Our site guy who my contact is appears to be avoiding my questions now, lovely, don't lie through your teeth on their survey and they behave like this. :D
     
  10. ChrisD.

    Caporegime

    Joined: 20 Sep 2006

    Posts: 25,929

    Has anyone ever received (or put in an offer) on a house without viewing? As that’s what we’ve just received. No chain buyer, agent are going to do their checks etc. It’s below asking but not insultingly slow.
     
  11. ants83

    Wise Guy

    Joined: 29 Jun 2004

    Posts: 2,476

    I had a buyer investor veiw my house for 5mins max.
    Didn't hear anything until a month later when he put an offer in 10k under asking.
     
  12. dLockers

    Mobster

    Joined: 21 Jan 2010

    Posts: 3,697

    Investor - you live there now, house is fine, he'll send a surveyor and he'll try and scalp you for a few more quid late into the sale process for whatever the surveyor finds. Surveyor likely 'on his books' so lots of fine tooth comb type stuff will come up.
     
  13. Buffman

    Sgarrista

    Joined: 4 May 2007

    Posts: 7,936

    Location: West Midlands

    That would absolutely be the type of buyer you want to avoid :D. I'd get your agent to gauge why they want to buy the property/presumably they want to view the place before further negotiation?

    I wouldn't deal with people who dont make the effort to view the house but I've had 2 bad buyers
     
  14. ChrisD.

    Caporegime

    Joined: 20 Sep 2006

    Posts: 25,929

    Thanks, makes sense. The house we were going to buy, and the vendor of that who was going to buy ours, well, she's been in touch and still wants the house and has sold to a no chain buyer who lives local. Better option?
     
  15. dLockers

    Mobster

    Joined: 21 Jan 2010

    Posts: 3,697

    I'd say so - it could still be a nightmare but a no-viewing-offer type mentality screams money not love. They will have a process of shafting as making friends/moral obligations is absolutely no where near their radar. It will boil down to an Excel model and paying you less helps them make a better return.

    Sounds like this lady likes the place enough to chase you down.
     
  16. FBi7

    Wise Guy

    Joined: 19 Jun 2009

    Posts: 1,006

    Location: Central Scotland

    Fingers crossed for your completion. I hope we can too. We're due for the 26th.

    We've been shafted by our own up here. Stamp duty holiday will end at the end of March for those of us north of the border. Bloody SNP :mad:
     
  17. Buffman

    Sgarrista

    Joined: 4 May 2007

    Posts: 7,936

    Location: West Midlands

    I would say that's a better option than investor. She's obviously keen on your house, just vet that her buyer is in a good position to proceed/keen on her house.
     
  18. Buffman

    Sgarrista

    Joined: 4 May 2007

    Posts: 7,936

    Location: West Midlands

    Its best I don't voice my opinions on the SNP on public forum:D.

    Good luck with your exchange, my only concern would be one party being uncontactable on the 26th and it rolling over a few days..
     
  19. ChrisD.

    Caporegime

    Joined: 20 Sep 2006

    Posts: 25,929

    Her buyers were wanting to buy some land and build a brand new house on it, he's a property developer/builder or some such. They currently rent in town and due to covid putting back their building plans they're just going to buy a house and look at doing some work on it.

    I guess the bonus would be that her solicitors have already done the searches on the house. And also the fact that she still wants it even after us pulling the rug from under her a few weeks ago.

    The only thing is that she wants to move quickly and I believe our onward vendors are in less of a rush, so that may complicate things.
     
  20. FBi7

    Wise Guy

    Joined: 19 Jun 2009

    Posts: 1,006

    Location: Central Scotland

    It's best I don't either!

    Thank you. It's a new build so hopefully that won't happen.