The nervous wait to exchange....

  • Thread starter Thread starter noj
  • Start date Start date
Finally, Received our Mortgage Offer took the entire week to get it even though it was done Monday.

Oh well, Searches have been ordered from the Solicitors side and should hopefully be back with them by Wednesday.
 
Found a house that we like. It's a new build and not due for completion until Spring 2017 so we would be buying Off Plan.

I am a bit worried about doing this as there is a potential for the housing market to have a little wobble between now and then. Is this something to worry about or am I being a drama queen?
 
Purchasers want an updated title plan as current one is incorrect. Anyone ever had a new one drawn up by Land Reg? Cost?

Hoping solicitor can sort this out without any problems!
 
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lee1101 said:
Found a house that we like. It's a new build and not due for completion until Spring 2017 so we would be buying Off Plan.

I am a bit worried about doing this as there is a potential for the housing market to have a little wobble between now and then. Is this something to worry about or am I being a drama queen?
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Generally speaking buying off plan you'll be buying cheaper than after the development has started. Just put down the minimum deposit and you won;t have much to lose if the worst happens.
 
I'm seriously considering putting in an offer for a 2 bed flat that would be very similar to the price it last sold at in 2007. This would be £25k below the guide price, which the estate agent appears to have pulled out of their arse, considering the condition of the property.

An identical flat, immaculately presented went for £5k under that guide price last year, and the one I am interested in needs a complete renovation. I also know that the service charge is increasing by 66% to cover future maintenance works and that the flat has been empty over a year (I know the people that own the flat directly underneath).

I have been to the flat 3 times already and will be looking to put an offer in after another viewing tomorrow. I am a ftb with a mortgage agreed in principle and a 40% deposit. Hopefully the vendors will want to move quickly, as the flat has been on the market for 2 months.
 
koolpc said:
Purchasers want an updated title plan as current one is incorrect. Anyone ever had a new one drawn up by Land Reg? Cost?

Hoping solicitor can sort this out without any problems!
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Incorrect how and updated for what reason?

If it's just because its based on an old OS version the Land Reg will do it for free and normally quite quickly.

If it's incorrect boundaries thats a whole new kettle of fish and could be for any number of reason from innocent mistakes to "stolen" land!

The Land Reg don't just 'draw up a new plan'.
 
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We are meant to complete next Friday on the 22nd but haven't exchanged yet. We've signed the contract two weeks ago and the solicitor has had our money for a week not sure what the hold up is for exchanging but solicitor assured us we will be ok. Just Want to get this deal done!!!
 
Skillmister said:
Incorrect how and updated for what reason?

If it's just because its based on an old OS version the Land Reg will do it for free and normally quite quickly.

If it's incorrect boundaries thats a whole new kettle of fish and could be for any number of reason from innocent mistakes to "stolen" land!

The Land Reg don't just 'draw up a new plan'.
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We have 2 title plans for our property. Both done at different times.

1 shows one half of house and garden and the other shows the other half of house and garden. Really odd! This was brought up when we bought this house but was explained and all ok.

Our current purchasers solicitor wants the title plan updated / merged.

My solicitor has said we are not changing anything and its up to them!
 
So long as the two titles are identical in terms of rights, covenants etc it should be as straight forward as them putting 'amalgamation of titles' on their application to register the transfer of ownership and mortgage etc with Land Reg. Wouldn't cost any extra either.

Would take longer if you were to do it now so should put them off
 
Skillmister said:
So long as the two titles are identical in terms of rights, covenants etc it should be as straight forward as them putting 'amalgamation of titles' on their application to register the transfer of ownership and mortgage etc with Land Reg. Wouldn't cost any extra either.

Would take longer if you were to do it now so should put them off
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Thanks
 
koolpc, mine had this aswell and completed 3wks ago..

my solicitor joined them on the land reg application, didnt cost me anything extra..and our solicitor said its quite a common thing.


i now own the house.


hope this helps!
 
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