The nervous wait to exchange....

  • Thread starter Thread starter noj
  • Start date Start date
Next complication has arisen - our buyers are having a nightmare getting searches back from the Local Authority. Apparently it's normally a 5-10 day turnaround, but due to the Covid situation extended to between 10-20 days. I'm aware they were submitted to the Local Authority on 8th October so being proactive I chased the Local Authority myself - cue more bad news - as it stands they are still processing the searches submitted at start of September, so our buyers searches are still another month up the pile, so the likely response time is looking to be another 4 weeks at an absolute minimum, so a grand total of probably around two months by the time they get anything back - absolutely appealing if you ask me even with the Covid situation.

I'm being pestered by the chain above us - we're ready to exchange with the chap we are buying off, and so is he with the person above at the top (our buyer is bottom of chain with nothing to sell). Note - they were late into the party after our previous buyer lost their buyer, so we had to re-market six weeks ago but luckily managed to resell within a week, and we managed to retain the rest of the chain above us (but only just).

But at this rate I can see them getting peeved off and pulling the plug on me, for something essentially out of my control.

I've got our councillor involved, and I'm going to keep pestering the Local Authority, and our buyer also doing the same - hopefully the Local Authority will get sick of us, and for what probably amounts to a 20 minute job they'll just get them out of the door, rather than having to spend 30 minutes a day either emailing or speaking to somebody complaining.

I wouldn't be too fussed if the rest of the chain was at a similar stage because I wouldn't be under the pressure I'm being placed in, nor do I hold any resentment for the additional Covid time.......but two months would take the proverbial!
 
So bloody frustrating.

Solicitor asks for money for a management pack for the flat I'm selling on the 19th October, I pay them the same day. Turns out they only paid them for it this week, and it's 5-10 working days to get it. The people we're buying off are getting increasingly annoyed and have decided they're going to remarket the property, but if we can get to the point of exchange in a couple of weeks they'll still sell to us.

Not sure whether to tell them to do one or not. :/

What are the odds that everything gets in order and we're agreed to exchange only for them to then say "We've had a cash buyer with no chain offer us +£5k over what you offered us, will you match it?".

Stuck between a rock and a hard place :/ already money down the pan with legal fees + surveys. I ******* hate the process in this country and I hate conveyancers. If this falls through I'm telling my solicitor to stick it.
 
Mason- said:
So bloody frustrating.

Solicitor asks for money for a management pack for the flat I'm selling on the 19th October, I pay them the same day. Turns out they only paid them for it this week, and it's 5-10 working days to get it. The people we're buying off are getting increasingly annoyed and have decided they're going to remarket the property, but if we can get to the point of exchange in a couple of weeks they'll still sell to us.

Not sure whether to tell them to do one or not. :/

What are the odds that everything gets in order and we're agreed to exchange only for them to then say "We've had a cash buyer with no chain offer us +£5k over what you offered us, will you match it?".

Stuck between a rock and a hard place :/ already money down the pan with legal fees + surveys. I ******* hate the process in this country and I hate conveyancers. If this falls through I'm telling my solicitor to stick it.
Click to expand...

Hard to say. It took about 4-6 weeks from getting the management pack from my management company to poinit ofo completion. It depends entirely how thorough they are and how information is handled. The real rip off was the price, not sure how much you're being charged for it. As for wetrher you get dumped or not depends on how easy it is for them to sell and how much & they have invested etc.

Either way it has to happen at some point, push for it. Having been in your position 8 weeks ago, I feel for you

- GP
 
GhostlyPea said:
Hard to say. It took about 4-6 weeks from getting the management pack from my management company to poinit ofo completion. It depends entirely how thorough they are and how information is handled. The real rip off was the price, not sure how much you're being charged for it. As for wetrher you get dumped or not depends on how easy it is for them to sell and how much & they have invested etc.

Either way it has to happen at some point, push for it. Having been in your position 8 weeks ago, I feel for you

- GP
Click to expand...
As far as I'm aware this is the last chink in the chain. Unless of course my buyers solicitors have any problems with the management pack... I'd hope not. It cost £360.

The house was on the market for a year, our offer was accepted in mid-July. Although it took a long time to get a mortgage approved + structural survey because of Covid.
 
They might have some questions to raise about what's in the management pack.

I hate management packs, total rip off. If I ever sell my house then I have to pay for one as well.

I manged to get FirstPort to refund mine because they messed me about with it, and couldn't provide most of the stuff in the end.
 
Mason- said:
As far as I'm aware this is the last chink in the chain. Unless of course my buyers solicitors have any problems with the management pack... I'd hope not. It cost £360.

The house was on the market for a year, our offer was accepted in mid-July. Although it took a long time to get a mortgage approved + structural survey because of Covid.
Click to expand...

Well thats a lot cheaper than I got stiffed for. Be prepared for some queries being raised around it, such as share certificates, % split of service charge, dates around , decorations and they will also ask for receipts from the lease holder too to ensure you havnt missed payments. In theory thats a weeks work but it depends.

If it took them a yewar to get an offer on it then they are probably (rightfully) annoyed like you are, but they could be bluffing

- GP
 
GhostlyPea said:
Well thats a lot cheaper than I got stiffed for. Be prepared for some queries being raised around it, such as share certificates, % split of service charge, dates around , decorations and they will also ask for receipts from the lease holder too to ensure you havnt missed payments. In theory thats a weeks work but it depends.

If it took them a yewar to get an offer on it then they are probably (rightfully) annoyed like you are, but they could be bluffing

- GP
Click to expand...
They're not bluffing I can see on rightmove it's listed again.

When I say it was up for a year, there was also a period where it was "sold" and fell through, probably 6 months before we made our offer.
 
Mason- said:
They're not bluffing I can see on rightmove it's listed again.

When I say it was up for a year, there was also a period where it was "sold" and fell through, probably 6 months before we made our offer.
Click to expand...

Dont give up hope. If this is the place youre buying, consider if the purchase falls through and rent even short term just to ensure the sale is completed (more or less what I have done). Leasehold properties are a necessary evil to get on the proprty ladder, but getting shot of it is the most important bit, unless im misunderstanding the chain.

Keep powering through and put some severe pressure on the agents and solicitors. WHile I dont have to tell you to suck eggs, youre their customer so give them hell. I reckon ii shaved 2-3 weeks or more off the sale of my place by being pushy

- GP
 
Mason- said:
So bloody frustrating.

Solicitor asks for money for a management pack for the flat I'm selling on the 19th October, I pay them the same day. Turns out they only paid them for it this week, and it's 5-10 working days to get it. The people we're buying off are getting increasingly annoyed and have decided they're going to remarket the property, but if we can get to the point of exchange in a couple of weeks they'll still sell to us.

Not sure whether to tell them to do one or not. :/

What are the odds that everything gets in order and we're agreed to exchange only for them to then say "We've had a cash buyer with no chain offer us +£5k over what you offered us, will you match it?".

Stuck between a rock and a hard place :/ already money down the pan with legal fees + surveys. I ******* hate the process in this country and I hate conveyancers. If this falls through I'm telling my solicitor to stick it.
Click to expand...

My solicitors gave me the option to pay the solicitors to pay the management company or i pay them direct. I chose the latter
 
*** to the previous house with the loft conversion - i went to see it and it didn't suit what i was after

Has anyone bought a house with an annexxe before? Are there special planning regulations around this?

Ive found a property which im going to see in an area i like, and thinking i could possibly air bnb the annexxe in the short term but overall long term picture is to reattach the annexxe to the house.

Is there much planning involved in having an annexxe ? I.e. Does it need planning to have the annexxe (prior to my purchase) and planning to change it back?

Floorplan below

3pOIsHi.png
 
Last edited:
Dunno but that looks pretty cool. Looking at that you'd only need to block off the kitchen to utility room access on the ground floor, and provide an entrance somewhere for the annexe.
 
Saw a house yesterday we'll be offering on but will put in a note of interest first as it's implied it will go to closing instead of accepting an offer. Had maybe 20-30 viewings since it was listed, the last property we saw had similar viewings and high notes of interest but only with 3 offers submitted, so no idea how it will go.
Odd for being in Scotland it's "Offers in the Region Of", but we're treating it as standard Scotland's offers over. Compromise of no drive (house is on an elevated plot) but does have a double garage.
 
You must log in or register to reply here.
Back
Top Bottom