The nervous wait to exchange....

[e36Adz]

It's been almost 3 months now since our offer was accepted. The tenants were given their notice and we were told they've have to vacate the premises by 31st Oct. Well fast forward to last week, and the estate agent contacts us to tell us the tenants can't leave on that date, they require another week as the house they're moving to isn't ready yet...

I'm aware that things can often go pear shaped where tenants are involved, I've heard all sorts of stories! We're fortunate enough to be in a position where we don't have to move straight away, in fact we're in no rush at all but it is VERY frustrating to say the least.

I emailed the estate agents to see what guarantee or assurance they can give us that the tenants will actually stick to the new date as it's now costing us - I exaggerated our situation slightly, no response from them yet (been 3 days) and they normally ring me back within minutes.

 

[talkshowhost]

What happened with this?

Sorry been a busy few days. They came back with another revised offer to which we told them where to go and then they came back with full offer again....such needless stress and trying it on

Things are moving again just waiting on finding out potential dates of so fingers crossed

 

[task]

Time to jump in on this thread!

Put my house on the market on Thursday, had 2 viewings so far and 1 more lined up.
The missus and myself have already found a house and had an offer accepted (below asking).

Early days of a long process.

Good to read the successes in this thread, it's been 9 years since I bought my current house and it's the first time the missus has purchased a house.

So, after 4 weeks we accepted an offer on this property and both properties are now sold STC.

Mortgage agreed in principal awaiting confirmation and solicitors instructed. Both myself and the buyers of my property are keen to get moved before Xmas.

Lots of work to do on the house we are moving to so I'll be putting one of my cars up for sale soon

 

[branddaly]

So I've got a process question. Same as task, I've got a MIP, and solicitors instructed. How does the mortgage company go about arranging access to the property I'm purchasing to complete the survey? I assume I'll need to inform the mortgage company the details for my solicitor, will they also need the estate agent details?

 

[roadie]

Yeah they will get the keys from the agent.

 

[task]

So I've got a process question. Same as task, I've got a MIP, and solicitors instructed. How does the mortgage company go about arranging access to the property I'm purchasing to complete the survey? I assume I'll need to inform the mortgage company the details for my solicitor, will they also need the estate agent details?

You can't move beyond MIP without giving the mortgage company the details of your solicitor (at least that's what I was told by the mortgage advisor). In my case the survey being done on my property will be done whilst I am present but the survey from my mortgage company on the property I purchase will be facilitated by the estate agent as they hold the keys.

I've been to see the solicitor this morning to pick up paperwork and get the I.D. witnessed. Waiting for our mortgage company to do their survey, should be the next week, then I will instruct the solicitor to get the ball rolling on searches etc.

 

[branddaly]

OK, mortgage company now has my Solicitors details, and have confirmed that he is suitable to act on their behalf. Certified ID was sent yesterday, so will speak with them on Monday to confirm receipt and discuss what the next steps are. I'm assuming that they'll contact the solicitor and arrange the survey once they are happy with all the supporting documentation they have been sent.

 

[chris.tarry85]

When did you guys pay your conveyencers?

We are due to complete on Friday, and they have added their fees onto the completion statement to be paid in advance of this.

Given there is a significant amount of paperwork and registration for them to do post completion - I am minded not to pay until this is completed or else I lose all leverage.

More than happy to pay stamp duty, searches, LR fees etc now though.

Views?

 

[Rob200sx]

2nd set of buyers have dropped out just before we were due to exchange. citing two excuses. 1, they thought they wouldn't get the mortgage because of the concrete construction (it wasn't flagged as an issue in the building survey) and 2nd, we seemed too keen to move out because we were talking moving dates.

 

[Jez]

To be fair concrete construction is not standard and would adversely affect the value to a large degree. Maybe they got cold feet if they were paying anything like a market rate for a concrete constructed house.

 

[Skillmister]

When did you guys pay your conveyencers?

We are due to complete on Friday, and they have added their fees onto the completion statement to be paid in advance of this.

Given there is a significant amount of paperwork and registration for them to do post completion - I am minded not to pay until this is completed or else I lose all leverage.

More than happy to pay stamp duty, searches, LR fees etc now though.

Views?

Varies, one guy I work with asks for everything except legal fees before completion. Most get everything including legal fees before completion, its just easier rather than faffing with multiple payments.

There isn't a "significant" amount to do post completion at all. Stamp Duty Return is likely already completed, just needs submitting online (5 second job) and a cheque or bank transfer sent to Her Majesty's RC. Registration is one form (takes roughly 3 minutes to fill out ) and a bunch of copying/scanning for a secretary. If its a registered property the updated title docs will be back within 48 hours which need sending to lender and client. Job done

 

["andy"]

Seller signed his contracts a week ago before going away.

I signed mine last Thursday

Now I guess I'm just waiting for solicitor. Again.

Nervous has now turned to impatient tbh

 

[Mucky_Pup]

Completion pushed back a week have been assured the houses need to be completed before the year ends though.

 

[koolpc]

Our solicitor only wanted a small amount up front for searches etc. The rest we payed on completion day!

 

[branddaly]

Is it usual to have very limited feedback from the mortgage provider on where they are up to in the process? I'm using FirstDirect. Getting the MIP was very quick, but after that it seems very slow. I provided all the requested supporting documentation and ID information they request pretty much immediately, but it then took a week for their underwriters to approve the documents, and I had to chase FD for any updates. I was told I'd get a text at the point of underwriter approval, but didn't. I've now been told its been passed to account opening who will complete the ID checks, and then arrange the surveys. The only way to check this progress is to call them again later this week...

 

[koolpc]

The word mortgage sends a chill down my spine!!

 

[the-evaluator]

Is it usual to have very limited feedback from the mortgage provider on where they are up to in the process? I'm using FirstDirect. Getting the MIP was very quick, but after that it seems very slow. I provided all the requested supporting documentation and ID information they request pretty much immediately, but it then took a week for their underwriters to approve the documents, and I had to chase FD for any updates. I was told I'd get a text at the point of underwriter approval, but didn't. I've now been told its been passed to account opening who will complete the ID checks, and then arrange the surveys. The only way to check this progress is to call them again later this week...

That's very disappointing from FD - they're normally excellent!

I took out a mortgage with them in 2001 and the communication was very good with regular text updates so I knew what was happening.

 

[branddaly]

The word mortgage sends a chill down my spine!!

dead pledge....certainly sounds sinister.

That's very disappointing from FD - they're normally excellent!

I took out a mortgage with them in 2001 and the communication was very good with regular text updates so I knew what was happening.

May have to double check that they have my mobile number correct.

 

[task]

Small update;

Mortgage survey done on both properties
Mortgage agreed
Contract of sale sent to my purchasers solicitor
Water/Mining searches complete

Waiting for the contract of sale from the sellers to my solicitor now.

Our buyers are keen to complete before xmas as are we

 

[branddaly]

Small update;
Our buyers are keen to complete before xmas as are we

Everything appears to be moving fast for you. I don't expect our surveys to be complete before next week. Been having fun chasing up the gas safe registration for our boiler. It was installed in 2010, but wasn't registered by the engineer....He has now done it.