The nervous wait to exchange....

  • Thread starter Thread starter noj
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Today is day 3 of the HTB form being reprocessed after we had to resubmit it due to the broker using an old form. Broker said 3-4 days so hopefully we'll hear something today so he can submit the mortgage application. I sent back all the documentation to the solicitors also so I assume they're waiting on the broker as well. I'm already being impatient - going to be a horrible couple of weeks.

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Our HTB was approved this afternoon. Our mortgage application should be going in tonight or tomorrow and the solicitor should now have the go ahead to start on the surveys and their stuff so I guess this is where the fun starts.
 
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The mortgage application officially went through this morning and spoke to the solicitors this morning to clarify an error on their part. At this point, there's nothing else for us to do so I've started looking at building/contents and life insurance cover.

What kind of cover and price are people paying for their life insurance? Our broker has sent over a quote with Royal London at £80/mo (covers two of us) which includes life/critical illness cover for the mortgage/help to buy loan, waiver of premiums for sickness - I'm sure it includes more from what he said but it's not entirely clear. I've not ran any quotes yet but looking at the commission he would get (around £2700) I'm assuming this could be had for a lot less if we did it ourselves!

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Valuation has been booked for next Tuesday. Our broker says they're working through documentation quite quick and expects our case to be clean sailing so here's hoping...

Our developer also got in touch asking us to book a house tour to see how everything works, so we've got that booked in for the second week of May.
 
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Still waiting to exchange. Funny as they wanted us to exchange on 12th Feb and now we're waiting on the developers legal team.

Completing still due for the 9th May.

Andy
 
Got home today to find a massive wad of paperwork from the solicitors - the contracts / land registry stuff and all the information on the plot / development. Apparently our exchange date is set for 12th May or earlier and completion set for 27th May. Going to hold off until the end of the week before I send this back so we can hear back from the mortgage guys in case of any issues.
 
We had another offer yesterday on our house. Full asking price which we have accepted. Fingers crossed this goes through this time! We are waiting to hear on an offer we have submitted on a property we like.
 
We put offer in on house we loved but house was sold to someone else and we didnt get a chance to negotiate! Gutted
 
Always a shame when people don't come back to you - did you go in quite far below asking perhaps and they came in at or close to asking?
 
Has anyone else met their sellers/buyers?

Our purchase has slowed down while people 2 steps up the chain continue to look for somewhere. Webhave been chasing the agent for updates and obviously have been coming across as a bit nervous about it all falling apart. The sellers of the place we are buying invited us round for a chat to reassure us.

I think that's weird. It feels really strange to pop round for a chat with someone you usually distance yourself from.

But anyway, we went round on Sunday and had a cup of tea and a chat. They explained that the people they are buying from are moving to Bulgaria (they already have a house there) and are looking for a small flat here. So they have put pressure on them saying they need to be moved by July because of school applications, and have continued to look at other places too. We also took the opportunity to check out a few things from the survey and take some measurements.

It was actually really good, and we got an email from them yesterday saying the Bulgaria people have put an offer in on somewhere so hopefully things will start moving.

I still think its really weird though?
 
Sounds fine to me :) More often than not you'll find something that takes x days of solicitors or going through an estate agent can be solved in 10 minutes talking to the vendor directly.
 
Over the past 4 months since we started looking, I've seen about 30 houses and met about 10 owners. Actually going round for a chat without having an estate agent present or intending on viewing is not something I've done though.
 
daz said:
Sounds fine to me :) More often than not you'll find something that takes x days of solicitors or going through an estate agent can be solved in 10 minutes talking to the vendor directly.
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And then the clients inform us of what they've agreed between themselves to "sort" an issue only for it to have no legal basis and end up complicating matters :)

My advice is always for people to avoid communicating directly with their buyers/sellers, it often ends up going sour. Unless you intend to limit it to a friendly hello and asking what the local school is like.. but 3 months down the line when they are calling your mobile 5x a day asking why you are delaying matters when the problem is 2 parties further down the chain you'll be regretting it.
 
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Still not exchanged. House has had air test, and is being CML'd on Friday.

Meant to be getting keys on 9th May and not even exchanged. Funny right.
 
Skeeter said:
Has anyone else met their sellers/buyers?

Our purchase has slowed down while people 2 steps up the chain continue to look for somewhere. Webhave been chasing the agent for updates and obviously have been coming across as a bit nervous about it all falling apart. The sellers of the place we are buying invited us round for a chat to reassure us.

I think that's weird. It feels really strange to pop round for a chat with someone you usually distance yourself from.

But anyway, we went round on Sunday and had a cup of tea and a chat. They explained that the people they are buying from are moving to Bulgaria (they already have a house there) and are looking for a small flat here. So they have put pressure on them saying they need to be moved by July because of school applications, and have continued to look at other places too. We also took the opportunity to check out a few things from the survey and take some measurements.

It was actually really good, and we got an email from them yesterday saying the Bulgaria people have put an offer in on somewhere so hopefully things will start moving.

I still think its really weird though?
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Yes, i'd rather be shown round the house by the actual owner rather than some idiot estate agent who knows nothing about the house.
 
Phew! All done for me, going to pick the keys up after lunch :D Paranoia set in yesterday though ... "I hope I've sent the money to the right account..." :o
 
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