I wish you all the best with that timeframe! We are in a similar situation of just 3 houses in the chain, yet we agreed the sales in mid February and are still yet to exchange. Admittedly, 2 of the houses are around the 100 - 150 year old mark, so you always expect to uncover some issues, but the process of buying and selling is long and arduous!
The nervous wait to exchange....
- Thread starter noj
- Start date
I wish you all the best with that timeframe! We are in a similar situation of just 3 houses in the chain, yet we agreed the sales in mid February and are still yet to exchange. Admittedly, 2 of the houses are around the 100 - 150 year old mark, so you always expect to uncover some issues, but the process of buying and selling is long and arduous!
Soldato
My solicitor informed me that they were waiting on a colour plan last Monday my seller finally got asked for it today what are these solicitors doing!
This is where our estate agent was really good - she was chasing up a lot of this stuff without even being asked and probably saved us a few weeks versus if we'd gone at the solicitors pace.
Soldato
Probably dealing with 100 other people who think they need to call or email every day to chase things up without realising that slows it down for everyone
Best to leave them to it, i rang mine twice to chase up some paperwork as they were finishing at 3pm depsite being open until 5.30pm.
Other than that, I waited until they called me.
Soldato
I put my house up again the other day after failing to sell it last year.
I had 3 viewings booked this week, first viewing liked it and put in an offer bit under what I wanted. We agreed a slightly higher price, so hopefully it's all considered sold. I am just instructing my solicitor.
Losing a bit as I paid more originally, but ultimately I am looking to move area, so taking a bit of a hit, but I'll still have a good deposit for my next purchase.
I had 3 viewings booked this week, first viewing liked it and put in an offer bit under what I wanted. We agreed a slightly higher price, so hopefully it's all considered sold. I am just instructing my solicitor.
Losing a bit as I paid more originally, but ultimately I am looking to move area, so taking a bit of a hit, but I'll still have a good deposit for my next purchase.
Soldato
Should exchange this week with a moving date of 7th June, taken 8 weeks from offer to move if it goes through, chain of 3.
Soldato
Got a viewing booked on somewhere tomorrow. One of the others I was looking at sold over the weekend even though it only went up Friday!
The place I am going to see looks good but they have horrid taste so the decor really brings it down. Would be new carpets and painting throughout basically, but the shell should be good.
The place I am going to see looks good but they have horrid taste so the decor really brings it down. Would be new carpets and painting throughout basically, but the shell should be good.
We've reduced the asking price to our flat significantly in the last few days - to a price I would have baulked at a year ago - and we've only had one viewing set up a a result.
This time last year and our flat would have sold immediately at the original price listed - based on the properties nearby sold - but more interesting is that there are so few properties on the market at present. Shows how depressed some areas of the property market are.
We're having to let it out in order to buy the house we've offered on - and that house had 3 offers at asking price within 24 hours of being listed. Crazy.
This time last year and our flat would have sold immediately at the original price listed - based on the properties nearby sold - but more interesting is that there are so few properties on the market at present. Shows how depressed some areas of the property market are.
We're having to let it out in order to buy the house we've offered on - and that house had 3 offers at asking price within 24 hours of being listed. Crazy.
Soldato
Argh my sellers now have a seller that’s buying a property in probate! They have said they will sell and rent if required.
Soldato
What's the problem with that? Grant of Probate only takes about a month to get and the process can still continue while it is being obtained you just can't exchange until the Grant is in place appointing the executors
Soldato
Because everyone was working to exchange this week to move on the 7th June after being told the property is vacant this has come out of left field, they applied for probate two months ago and once probate is granted want to exchange and then have two weeks before completion, so the 8 weeks we have all been pushing for and pretty much have agreed is now up in the air, so he either needs to move out and sell or my sellers need to let the sale go through and rent.
Associate
How did you guys organize the deposit payment to solicitor? CHAPS or daily transfers?
Soldato
Looking to put my flat on the market by the end of June, just or an AIP certificate through L&C based off a recommendation and seemed easy enough. Pretty nervous and have no idea how the process really works having only ever bought my flat and thats it, being in the middle of a chain makes me nervous along with the unknown. Any tips ahead of time appreciated...
- GP
- GP
Soldato
Nothing too crazy about it really, you'll need;
- A solicitor to handle your sale and purchase.
- Money to cover stamp duty on whatever you are buying in your budget. There is a calculator online you can plug the purchase price into to work that out.
- I'd recommend using a broker for your mortgage, as it will save you some paper work/hassle and they usually have contacts at the banks to help press things forward. Make sure it's fee free though, they get a kickback from the bank normally. They may be able to get you a better deal than you can get yourself.
- For mortgage application they usually want 3 months payslips, but mine wanted 6 previously, so aim to get last 6 months payslips together just in case.
- Paperwork for your current flat if you have any. Especially things like electrical and gas certs if they exist.
- You'll need some proof of id for solicitor, estate agents, mortgage application. Normally this is driving licence/passport, and maybe some paper bills such as a recent council tax bill, or a utility bill.
I even purchased a few lamp shades for my ceiling lights as I hadn't gotten around to it. I can take them with me though and use them in my next house, so even better if anything you buy is reusable.
Soldato
Thanks - most of that is in progress or done so it sounds like I'm essentially on the right track. I'm like this with most things, hate the unknown but OK when its going forward. Next 3 weekends I'm de-cluttering, cleaning and all that. Getting a revaluation and putting in on the market by end of the month (that's the plan at least). Thanks for the input
- GP
My mortgage advisor has messed a few things up it seems. There's a chance we can't get the level of mortgage that we initially thought, or we'll have to wait three months to the end of my company's financial year, which could throw everything into disarray.
Soldato
Supposed to exchange today for a 14th June completion, guy at the top of the chain who is buying the probate property after waiting 6 weeks to even say he was buying a property after telling everyone his property was vacant had agreed to rent he is now refusing to rent and refusing to even give any possible dates for completion let alone exchange! Guy sounds like a proper idiot apparently his sale fell through last time you can see why.
What a pain - unfortunately too many time wasters like that - one of my colleagues had everything all lined up only for someone in the chain to go to the south of France for the summer seemingly under the impression everyone would just wait for them.
Associate
Currently 10 weeks and counting into the whole "must exchange within 4 weeks" agreement on a new build...
Transfer of Equity being done by some cheap nasty cowboys my ex has employed the services of. For the past 5-6 weeks it's been 'a week or two' away...
But on the plus side new house is done and ready and I've been doing a bit of snagging already anyway to get issues resolved
Followup on this
exchanged last Wednesday and completed on Friday Spent the whole of Saturday moving out of the old house and getting everything into the new one (incl a double garage worth of stuff into a 4th bedroom as I was painting the garage in the new house before anything went in there!)
Lots of snags spotted but holding off on mentioning anything just yet as I've got a professional snagging company coming - learnt from previous experiences!