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The nervous wait to exchange....

Discussion in 'Home and Garden' started by noj, Apr 3, 2014.

  1. rah^

    Hitman

    Joined: May 27, 2007

    Posts: 809

    Location: Leeds!

    So its appears my solicitor has been batting around with the buyers solicitor some silly retention figure due to accounts for the management company not being finalised for 2017 yet

    When I heard the figure well I can understand why my solicitor was doing it just wish they'd approached me sooner!

    Ask my solicitor on Friday to go back and agree to the figure based on exchange of contracts on Friday itself or the retention figure would be reduced by a value daily until the buyer does exchange on my place - it seems that was agreed and well the buyers not exchanged yet but anticipates it to be Monday
     
  2. gort

    Wise Guy

    Joined: May 27, 2003

    Posts: 1,279

    Thanks Mr Smug! :p

    Am just starting the process.
    1st view of my property on Saturday they put in offer today but it was rejected. Have been booted out at the moment, sitting in the local cafe whilst others are being shown around.
     
    Last edited: Mar 6, 2018
  3. Marvt74

    Capodecina

    Joined: Feb 20, 2004

    Posts: 10,394

    Location: Chorley

    Well everything starting to move now. Our sellers have found a house and had an offer accepted. That's the end of the chain too as the sellers must have another house.

    Posted all the solicitor paperwork back yesterday.

    Survey has been done on ours and seems like everything is good, the estate agents rang about "damp" concerns but we told them there were no issues and wouldn't be negotiating and we heard nothing back after that.

    Our survey is being done next wednesday. Interested in what it says as it certainly has some faults!
     
  4. rah^

    Hitman

    Joined: May 27, 2007

    Posts: 809

    Location: Leeds!

    My saga continues with exchange of contracts

    Buyers solicitor on Monday phoned and claimed I was holding up exchange.. resolved another query he also decided to raise on Monday

    Roll on Tuesday its all set to go through.. my solicitor approaches his to exchange contracts at which point his solicitor says "sorry my client hasnt paid his deposit to me yet"
     
  5. adwol48

    Hitman

    Joined: Dec 25, 2008

    Posts: 587

    Location: Norwich

    Well in theory we should be exchanging contracts tomorrow but the buyers solicitor seems to be the of the useless variety as he isnt responding to my solicitor this is the second exchange date we have tried for now the last being the 6th but they just aren't getting back to us hopefully any issues further down the chain have been resolved and it can be done asap.
     
  6. rah^

    Hitman

    Joined: May 27, 2007

    Posts: 809

    Location: Leeds!

    Well my exchange finally happened

    Completion on my current flat is set for 12th April and I am rather hoping my new build is complete before / by then to save me worrying about sofa surfing with the mrs + kid and 2 cats!
     
  7. adwol48

    Hitman

    Joined: Dec 25, 2008

    Posts: 587

    Location: Norwich

    Well no exchange again today to be fair its beyond my solicitors control the surface water flooding in the area wasnt highlighted in a search apparently so when thats come back shes had to go back to my lendor with that info and even though it was marked as urgent I doubt they will turn it around that quick. If we exchange in the next couple of days it looks like the 27th would be the next available move date
     
  8. psalliss

    Wise Guy

    Joined: Oct 18, 2002

    Posts: 2,236

    Location: lancaster

    I feel the pain of many of you. Reserved a new build on 4th Feb and accepted offer on our house on 5th Feb. Had a lot of faffing with buyers going from valuation to full structural servey and back to valuation and then to homebuyers. Survey was done 2 weeks ago. All sorted in the purchase and just the sale to finalise now.

    Buyer had an issue with the conservatory but never said what I was and went dark for an entire week not responding to our estate egent or solicitors. Wanted a builder to come and check as reckoned it would cost 1200 to sort. I offered that they were welcome any time. Eventualy buyer decided not to bother with buider and is now proceeding. We were suppose be moving Thursday but now waiting for a new date.

    Hopefully enquiries should be done tomorrow and can get a date for exchange and completion
     
  9. peige

    Mobster

    Joined: Oct 18, 2002

    Posts: 3,120

    Location: Sussex

    Still yet to exchange here. Now got a contract race going,
    Buyer 1 is reliant on a first time buyer who hasn't kept to a single deadline, nobody has faith in them so my buyer 1 put there flat back on the market (a little sneakily) to find a better buyer and we did the same when we found out and found..

    Buyer 2, knows the risks and the race, less than a week later they have survey done yesterday and contracts moving..

    Who will be ready to exchange first, I don't really care, I just want it all done now!

    Only downer is buyer 2 had a full Monty survey done, on a 1940's house, its going to be so full ifs and buts it could well scare them right away :)
     
  10. andicole0

    Soldato

    Joined: Sep 12, 2005

    Posts: 5,401

    Location: Robertsbridge

    More bad news our freeholder is saying they never got the request to sell! Causing a delay of a month.
    Andi.
     
  11. Marvt74

    Capodecina

    Joined: Feb 20, 2004

    Posts: 10,394

    Location: Chorley

    If it's from a reasonable surveyor then it should be alright. We've got the same survey on the house we're buying from 1874. However i've sought out a surveyor who deals with old properties rather than going for a countrywide style one who'll just say "It's old we recommend getting a specialist" to everything.

    Our mortgage company have done their valuation so that's another thing ticked off :)
     
  12. Irish_Tom

    Capodecina

    Joined: Oct 18, 2002

    Posts: 11,191

    Had an offer accepted on the house we wanted and accepted an offer on our house today — let the games begin! :D
     
  13. Too Tall

    Wise Guy

    Joined: Jun 21, 2006

    Posts: 1,283

    Location: Solihull

    Due to move a week tomorrow, my solicitor has been ready to exchange for a week. Sellers solicitor is awaiting the mortgage redemption details and some land title docs. Funny thing is we're both with Nationwide.
     
  14. gort

    Wise Guy

    Joined: May 27, 2003

    Posts: 1,279

    Question:

    Not bought and sold a house before (only been a FTB.)
    Waiting for sale to go through for a new place that is literally 250 yards away in the next road.
    Due to this I'm hoping to hire a truck for the day For £50-60 and do 2-3 trips with the help of a few friends/family (would save a few hundred quid over a large removal van company but this I suppose would be easier to do in one big go.)

    Question is....how can it be done when I wouldn't have the keys to the new place and mine at the same time? Or can this be open to negotiation with my buyer (they are FTB living with parents so may be more flexible)? My current place does have a detached double garage, could I negotiate to have access to this rest of the day once the couple have moved in. Is that possible?

    Ta
     
  15. koolpc

    Capodecina

    Joined: Dec 2, 2004

    Posts: 10,375

    Location: Under The Desk, Wales

    Normally people load up one big van / lorry and then wait for key to new place.
     
  16. tsinc80697

    Sgarrista

    Joined: Apr 10, 2006

    Posts: 7,597

    Location: North West

    If they're FTB, like we were, we waited until our new house was vacated and then moved in over the space of a couple of days. I'd just ask your buyers if they are willing to move in a few days later than the date you are completing on your new house.

    It'd be a nightmare trying to move out with someone moving in on the same day :D
     
  17. Marvt74

    Capodecina

    Joined: Feb 20, 2004

    Posts: 10,394

    Location: Chorley

    I'd say there's a decent chance of getting the use of the double garage. If they're FTB's then in theory they shouldn't have much stuff!

    Last time we moved it was only 5 minutes away so easy to do in 2 trips, our move in a few months time is about 20 minutes drive so should make things trickier!
     
  18. gort

    Wise Guy

    Joined: May 27, 2003

    Posts: 1,279

    It'd be a massive help as although we don't have a huge amount of stuff, I have several aquariums and them alone would be half at day I reckon. So if I complete say on a Wednesday I can still negotiate for the FTB'ers to get the keys say on the Friday when I am done?
    Thank for the info!
     
  19. Glaucus

    Man of Honour

    Joined: Mar 11, 2004

    Posts: 76,657

    If they're ftb there's a good chance they're renting and have a time frame to be out as well.
    A lot of people load up vans/lorries the night before. Pack the final few items and bed. Then drive to new house and sit around waiting for completion.
     
  20. Chris344

    Wise Guy

    Joined: Oct 2, 2006

    Posts: 1,338

    We are hopefully going to exchange on Friday 23rd and complete on 9th April.

    There's a couple of outstanding enquires but nothing show stopping hopefully!