The nervous wait to exchange....

  • Thread starter Thread starter noj
  • Start date Start date
10 viewers lined up for tomorrow, after 1 day of being on the marker, for sale sign isn't even up in the garden yet :)

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Well I have put offer on a flat and questions if there is any issues, been told that there isn't any.
My offer was approved and we were awaiting memorandum of a sale, out of the blue the EA called me to say that there was issue with a cladding and it was inspected and nothing was found.
After an hour he called me again and advised that the cladding needs to be changed on penthouse, and it will cost approx £900 per flat.
I have told my solicitor to check everything and advise if it's worth it to even start the purchase.
 
OMG!!! I’ve moved!!! Up 05:30 to finish packing, out my flat 1:30pm with the buyer basically at the front door, van and cars empty at 3!

Now it’s time for a beer, snooker and bed assembly before it dawns on me what I have done and how much of a state this place is... (pictures to follow)
 
pingwing said:
and how much of a state this place is...
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Unless the place is absolutely perfection my experience is you notice all the worst bits for the first couple of days - you'd do the same probably moving back into where you've just left if it was new to you - and it'll probably be a week or two before you feel a bit happier about it when you have a more balanced perspective of the pros and cons.
 
We've completed! All went very smoothly in the end, despite the mortgage provider telling us the day before they didn't have everything they need (an error on their part).

As if buying wasn't expensive enough, now it's time to gut the house and install new plumbing, electrics, network cables etc....
 
Put an offer in and it was accepted, £129.500 against survey valuation for mortgage of £132.000.
Nice 3 bed terraced property overlooks a huge park, new kitchen, bolier, freshly skimmed walls, 2 car parking spaces and a garage..

Basically walk in condition.
 
jaffveyda said:
Well I have put offer on a flat and questions if there is any issues, been told that there isn't any.
My offer was approved and we were awaiting memorandum of a sale, out of the blue the EA called me to say that there was issue with a cladding and it was inspected and nothing was found.
After an hour he called me again and advised that the cladding needs to be changed on penthouse, and it will cost approx £900 per flat.
I have told my solicitor to check everything and advise if it's worth it to even start the purchase.
Click to expand...
I wouldn't touch it with a barge pole. There is debate about who ends up paying if this stuff needs replacing at the moment and it seems to be decided on a case by case basis. Can't imagine it would only cost £900 either...

BBC News - Manchester leaseholders spared £10k cladding bill
https://www.bbc.co.uk/news/uk-england-manchester-47417706

BBC News - Residents at Salford Quays apartments 'could face £10k cladding bill'
http://www.bbc.co.uk/news/uk-england-manchester-45246669

^(I was a acting in the purchase of one of these at my previous job. Seller had been waiting about a year so far for the cladding to be inspected and last I heard there was no anticipated date. Mortgage lender currently values the flat at £0)

BBC News - Residents ordered to foot £2m 'Grenfell' cladding bill
http://www.bbc.co.uk/news/uk-england-london-43388473
 
We were due to exchange within the next 2 weeks.

Sadly had to pull out today.

Had a specialist in - 6.5 square meters of Japanese Knotweed at the bottom of the garden which writes off the entire garden for 10 years. Current vender had been digging it up/spreading it herself to make matters worse.

Absolutely gutted, the house ticked every single box and was perfect for us but we can't be living with that and not having a working garden :(
 
Offer accpeted for a house, £2500 below the offical surveyors valuation for mortgage purposes!
I'm in Scotland so it might be different than the rest of the UK, the offer is a spoken one and noon-contracual until missives are signed and sealed.
Home report states for the internal ceilings
"The textured plaster finish may be an asbestos containing material which should be managed accordingly"
Lawyer is closed today for the bank holiday, i'll get her official word on it tomorrow, anyone got an opinion on this?

Thanks
 
It's cheap to get an asbestos test, we paid £60 to test the artex in two rooms. At least you know where you stand and might be able to negotiate an amount off the price for removal.
 
Russinating said:
It's cheap to get an asbestos test, we paid £60 to test the artex in two rooms. At least you know where you stand and might be able to negotiate an amount off the price for removal.
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Cheers mate.

Had a quick google there, didn't realise that was a thing for domestic properties!
Testing from £30 from a company 5 minutes drive from the house.
 
Might want to get a full asbestos survey, as there's a fair chance it might be present somewhere else in the house. Our mortgage provider insisted on one after their survey found asbestos. Nothing came of it, they just want some evidence it's not going to materially affect the value of their security. Make sure the company is UKAS accredited.
 
Complete on Wednesday and the funds are going to our solicitor tomorrow. Should Nationwide send a text or email to say the funds have been transferred to your solicitors?

We’ve had one saying they were going to transfer on the 7th when we exchanged a couple of weeks ago.
 
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