The nervous wait to exchange....

Liquid_Entity · 12 Oct 2020 at 19:21

Now the arduous task of changing all the bills etc. The list is endless.

tres · 12 Oct 2020 at 19:30

Liquid_Entity said:
Now the arduous task of changing all the bills etc. The list is endless.

Remember Quidco!!

Liquid_Entity · 12 Oct 2020 at 21:40

tres said:
Remember Quidco!!

Topcashback for me, but yes i will be taking advantage hopefully.

happy_2008 · 13 Oct 2020 at 12:08

Liquid_Entity said:
Now the arduous task of changing all the bills etc. The list is endless.

I've made a list on my computer of all the address changes i will have to do, the list is as you would expect endless.

mid_gen · 13 Oct 2020 at 15:35

Just a mail from the seller via the agent, saying would we rather get the keys on Friday or Saturday....

Bit of a surprise as last I heard our solicitors hadn't agreed an exchange or completion date....cue solicitors suddenly scrambling to get everything together.....

You have to laugh at this process....

happy_2008 · 13 Oct 2020 at 15:41

Just recieved our Environmental searches report today that threw up a few scary bits

koolpc · 13 Oct 2020 at 15:48

happy_2008 said:
Just recieved our Environmental searches report today that threw up a few scary bits

Like what?

Robi · 13 Oct 2020 at 15:58

happy_2008 said:
Technically speaking its fraud? Its a big variable to the bank that would no doubt affect the outcome of the decision regardless of your affordibility though whether they could find out is a seperate question.

This?

I thought we were expected to inform the lender of any significant changes to our circumstances before contracts are exchanged?

happy_2008 · 13 Oct 2020 at 16:08

koolpc said:
Like what?

Estate is on contaminated land, moderate to high natural ground movement. High level of Groundwater flooding although no basement so not such a big problem. Think on paper it looks scary but felt more assured after speaking to the associate.

Robi · 13 Oct 2020 at 18:24

happy_2008 said:
Estate is on contaminated land, moderate to high natural ground movement. High level of Groundwater flooding although no basement so not such a big problem. Think on paper it looks scary but felt more assured after speaking to the associate.

In terms of groundwater flooding, did it pass with considerations or flat out fail? What about historic flooding?

Mr Jack · 13 Oct 2020 at 19:17

Robi said:
I thought we were expected to inform the lender of any significant changes to our circumstances before contracts are exchanged?

I mean technically, sure, but it's not like they're going to find out before your exchange or do anything about it if they find out afterwards. *shrug*

happy_2008 · 13 Oct 2020 at 19:43

Robi said:
In terms of groundwater flooding, did it pass with considerations or flat out fail? What about historic flooding?

No Historic flooding just high risk but i think this isn't so much of a problem as this tends to affect properties with cellars/basements.

mid_gen · 13 Oct 2020 at 20:42

happy_2008 said:
No Historic flooding just high risk but i think this isn't so much of a problem as this tends to affect properties with cellars/basements.

You can check this yourself any time, no need for surprises last minute! I always check before I even go look at a property. Would touch a flood risk house with a barge pole personally, not a long term buy anyway with the way the climate is going. Best check if you can get insured as well.

https://flood-warning-information.service.gov.uk/long-term-flood-risk

GhostlyPea · 13 Oct 2020 at 22:37

Going in to the solicitors tomorrow mornig to sign some of the final paperwork. Really hoping to still push a completion by the end of the month. Hoping the buyer and their side pull a finger out and move faster

- GP

Robi · 13 Oct 2020 at 22:50

mid_gen said:
You can check this yourself any time, no need for surprises last minute! I always check before I even go look at a property. Would touch a flood risk house with a barge pole personally, not a long term buy anyway with the way the climate is going. Best check if you can get insured as well.

https://flood-warning-information.service.gov.uk/long-term-flood-risk

Good website, especially since you can see where the risk areas are on a map.

My potential house is medium surface water risk and very low risk for rivers & the sea, but when you look at the map:

Surface water risk is the road, not the property. No historic flooding at the property. Anything to worry about?

neviditelny · 14 Oct 2020 at 01:17

I see a lot of people talking about waiting for searches, what does that mean?

mid_gen · 14 Oct 2020 at 07:26

neviditelny said:
I see a lot of people talking about waiting for searches, what does that mean?

There are a bunch of searches that your solicitor will do for you, to make sure you have all the legal rights in place you should for the property. Not an expert but ;

Drainage rights (where are your drains, who is responsible for them)

Environmental (is the house built on a radioactive waste dump, neolithic shamanic graveyard, flood risk area)

Local Authority (this checks things like planning permission for the build and any work done to the house were all done in line with the local authority requirements).

The last one takes a long time because civil servants don't need an excuse like Covid to take their sweet time over anything.

neviditelny · 14 Oct 2020 at 07:27

mid_gen said:
There are a bunch of searches that your solicitor will do for you, to make sure you have all the legal rights in place you should for the property. Not an expert but ;

Drainage rights (where are your drains, who is responsible for them)

Environmental (is the house built on a radioactive waste dump, neolithic shamanic graveyard, flood risk area)

Local Authority (this checks things like planning permission for the build and any work done to the house were all done in line with the local authority requirements).

The last one takes a long time because civil servants don't need an excuse like Covid to take their sweet time over anything.

Would those searches be the same if being a flat as well? Or would that include a different kind of searches?

The_Arbiter · 14 Oct 2020 at 07:29

mid_gen said:
The last one takes a long time because civil servants don't need an excuse like Covid to take their sweet time over anything.

So true.

The_Arbiter · 14 Oct 2020 at 07:32

neviditelny said:
Would those searches be the same if being a flat as well? Or would that include a different kind of searches?

Not sure there myself, but lease or freehold would likely make a difference. Leaseholds are a totally different ball game. Your homework on buying a leasehold is required, as losing money on them is of a common theme.