Our sale and purchase seem to be going find, we have had the contracts back and signed those but not dated as the exchange/completion not sorted yet. Had our buyers surveyor around on Friday so hopefully nothing will come of that, so all looks to be going in the right direction.
The nervous wait to exchange....
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Soldato
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Viewed an Ex-Mod house near us that we really like. When the area was developed, the MoD snapped up a big chunk of them for their families and so on.
Now they are selling them off.
Generous sized home, nice quiet area where we want to be.
I imagine they have been looked after during their life, it was in a good state when we viewed and is also empty and ready to go. Tempted
Now they are selling them off.
Generous sized home, nice quiet area where we want to be.
I imagine they have been looked after during their life, it was in a good state when we viewed and is also empty and ready to go. Tempted
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We've still not heard anything back from the buyers of our house re. plume deflector - our solicitor has chased them twice now - I can see this all falling through as the buyer seems in no hurry but we are as the house we're buying needs re-rendering before it gets too cold.
On another note, we've spotted a house we looked at back in March is back on the market again. I drive by it every week and it's said sold for ages. When we looked at it we spotted a worrying crack going diagonal from a window all the way down the wall so decided then 'nope' - makes you wonder if the new buyer's surveyor spotted something else wrong with it? They've now reduced it from £380k to £360k .
On another note, we've spotted a house we looked at back in March is back on the market again. I drive by it every week and it's said sold for ages. When we looked at it we spotted a worrying crack going diagonal from a window all the way down the wall so decided then 'nope' - makes you wonder if the new buyer's surveyor spotted something else wrong with it? They've now reduced it from £380k to £360k .
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Soldato
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Offer accepted on this one after a bit of back and forth
End of chain too, and our buyers are first timers so could make for a quick process... Doubt it
Our buyers solicitors are trying to shift the blame to us for the delays in getting everything together to exchange in the coming weeks.
Great thing about email is that everything is time stamped so immediately provided time stamps of us replying within hours of all of our solicitors emails and them responding promptly too.
These are the same solicitors who didn’t start their searches until 4 weeks after the offer was accepted on our property!
Great thing about email is that everything is time stamped so immediately provided time stamps of us replying within hours of all of our solicitors emails and them responding promptly too.
These are the same solicitors who didn’t start their searches until 4 weeks after the offer was accepted on our property!
Soldato
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FTB here, after having an offer accepted in mid June, we've finally exchanged contracts and have a fixed completion date for the 10th Oct does that mean we'll 100% get the keys this coming Friday?
does that mean we'll 100% get the keys this coming Friday?
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Soldato
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If not then the contract terms come into play... So yes it's very likely but you should keep on top of it.FTB here, after having an offer accepted in mid June, we've finally exchanged contracts and have a fixed completion date for the 10th Oct
wrong thread
Due to the absolute cluster **** of a system we have there is no such thing as a 'quick sale'Offer accepted on this one after a bit of back and forth
End of chain too, and our buyers are first timers so could make for a quick process... Doubt it
And garbage conveyors seem to be the norm
Rest of the world must look at us and laugh
Soldato
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Yeah definitely agree. It's our first time selling to buy, so I'm excited to see this first hand
Filled out our buying questionnaire yesterday but a question about a deposit had me confused.
10% deposit required on exchange? Well I can't provide that as it's all tied up in equity of the actual sale of ours.. but Google tells me not to worry, the exchange deposit effectively comes from the FTB at the start of the chain (our buyers) and works its way up as our deposit onwards too? Is that right?
Just a vague confusing few questions on this form, will contact them directly Monday as no answer over weekend
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Don’t worry about the deposit, why ever the deposit is for the person at the bottom of the chain, that will be accepted as the deposit for the whole chain in practice. If there are big jumps in value between the top and the bottom that might not be accepted by those at the top but it’s normally not an issue.Yeah definitely agree. It's our first time selling to buy, so I'm excited to see this first hand
Filled out our buying questionnaire yesterday but a question about a deposit had me confused.
10% deposit required on exchange? Well I can't provide that as it's all tied up in equity of the actual sale of ours.. but Google tells me not to worry, the exchange deposit effectively comes from the FTB at the start of the chain (our buyers) and works its way up as our deposit onwards too? Is that right?
Just a vague confusing few questions on this form, will contact them directly Monday as no answer over weekend
If the chain collapses after exchange the person at the bottom of the chain loses their deposit, the next person gets it, but they lose their deposit so the next person gets it and so on. Basically whoever is at the bottom loses their deposit and it ends up with whoever is at the top of the chain.
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Soldato
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Thanks for that, it was just a weirdly worded question on their silly App
"You need to provide a 10% deposit on exchange, can you assure this will be made available Yes/No
So alarm bells started to ring/sinking feeling of panic etc
Sounds like the norm then, thanks for clearing it up
Still don't know if it's a yes or no on the app though
I assume yes, have emailed them just to confirm
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