The nervous wait to exchange....

  • Thread starter Thread starter noj
  • Start date Start date
Not much of an update but...

Still working on the last bits of enquiries. Now waiting for share certificates and indemnities for transfer charges on the purchase - the house is on a development that is partially private owned so a management company looks after the public areas and we have to pay them annual charges etc.

Still hoping to exchange this week.....oh please let it be this week.........
 
RedvGreen said:
Everyone is in the same boat these days.

I think the biggest mistake is thinking that YOUR estate agents care about you. They don't. There's primary customer is in the one purchasing your property.

Once we realised that, it all became clearer.
Click to expand...

yeah...our EA couldn't care less anymore, they occasionally ask us when we're exchanging but that's more about "when are we getting paid" than anything else.

its just the last little things seem to take so long....
 
well that's going to be interesting...

top of the chain have now said if we don't all exchange by Friday they are pulling out.

oh boy.
 
big day today....

after a couple of bad nights today is the day. We either sort out the exchange or the top of the chain pulls out. Its now all down to agreeing completion dates.

The people we are buying from have an interesting idea of completion which brings a lot of light onto why they were slow sorting out their paperwork.
If we loose the house we want to buy then it looks like we'll keep going with the sale of ours and rent something for a short while and look again.

....big day today.....
 
well what a **** day so far.

low point of the day has to be our estate agent telling the agent of the people we're buying from that "if they (we) cannot agree dates that's ok, we'll just sell a house down the road to them (our buyers)"

Yes folks, that's Estate Agents for you.

This has all been caused by our EA not being helpful and not getting involved in the important parts of the transaction. We think we have a date agreed now but we're just waiting for those magic words......

We are *this* close to either exchanging or the whole deal falling through.

Its a horrible experience.
 
possibly the most stressful day since getting married.

But we finally managed to exchange contract! A massive, massive relief.
We came within 30 minutes of the whole thing collapsing in a heap but we've now got our completion date set and can look forward to the move.

I admit the last few days have been a struggle and put a downer on the enthusiasm but I'm sure we'll bounce back.

Anyone interested in pictures :)
 
RedvGreen said:
Whilst the process is stressful, there are comedy moments.

For instance, when the sellers of the house you're buying asks you if you things which weren't specified on the advert. We had to stifle laughs at the attempts to sell us a 20yr old stained dirty carpet - the owner tried to insist that "We really will take it when we move, so you'll have to let us know ASAP if you want it. It'll be £400".

Similarly about things as petty as standard filament lightbulbs, spare fuses for normal sockets, and even so far as bathroom fittings and door hooks... I was like "JUST TAKE IT ALL DAMNIT, IT IS TRASH!!!".
Click to expand...

our comedy moments....

the sellers are taking everything out the house they can, I think we're being left light bulbs but not really sure!

Curtains were my favorite...when we offered on the house we went £10k under, they wanted more and said if we offered them 5k more they would leave the curtains. Our response....we can make them for less than that!
 
good luck to you guys just starting out on the process, fingers crossed it goes, relatively, painless for you.

Don't underestimate just how terrible some EA's can be once they've got that offer in they switch off from you pretty quick. They'll be off chasing the next house to market and you need to keep on at them to work on your behalf as well.
 
fastwunz said:
EA doesn't get paid unless it goes through so this is a daft statement. However some are awful for very different reasons I agree. You, the buyer are paying the solicitor not the agent so perhaps you should hound them instead.
Click to expand...

I sort of agree - the logic should be that the EA doesn't get paid if it doesn't complete so they have motivation to get things done. However, in our recent experience our EA were more interested in getting new properties on the books than helping us with our sale. Mathematically I guess it makes sense, add ten new files on for the risk of one falling through - or that is very much how it felt to us.

As soon as we exchanged the communication from the EA dried up, calls not returned, messages not passed on, our sales "progreser" always out doing new valuations.

Our solicitors on the other hand were brilliant, they couldn't do enough to help and were always on the ball and ready to assist.
 
LiE said:
Do these solicitor fees seem tad high?

Total incl VAT £2086.80

Selling

Sale Price: £180,000.00
Tenure: Freehold

Costs for your Proposed Sale excl. VAT £550.00
Costs based upon First Mortgage Redemption excl. VAT (per redemption) £95.00
Electronic Identity Search excl. VAT (per name) £8.33
Bank Transfer Fee excl. VAT (per transfer) £37.50
Office Copy Entries (approx) £12.00

Total Fees excl. VAT: £ 690.83

Buying

Purchase Price: £200,000.00
Tenure: Freehold

Costs for your Proposed Purchase excl. VAT £650.00
Local, Chancel, Enviro and Water Search Pack excl. VAT £234.00
Stamp Duty Land Tax Return excl. VAT £120.00
Bank Transfer Fee excl. VAT (per transfer) £37.50
Electronic Identity Search excl. VAT (per name) £8.33
Land Registry Search & Land Charges Search Fee £12.00
Land Registry Fee £135.00

Total Fees excl. VAT: £1,049.83
Click to expand...

We paid under £2k for our sale and purchase so maybe a tad high....have you had other quotes?
 
rossk26 said:
Applied for my mortgage a week ago, still haven't heard anything. Solicitors are now wanting money to start the searches, but I would like to know I can actually get a mortgage first before I get searches done.

How long does it usually take to get a "yes"?
Click to expand...

depending on the bank and their workload......likely 7 to 10 working days for an agreement in principle.
 
randal said:
Completed at 15:38.

Solicitors and banks at the bottom of the chain, obstinate to the end.

*******.

Finished though, shower and out tonight for dinner and celebrate 2 weeks of being of no fixed address lol.
Click to expand...

good news indeed well done! now just the 2 week wait again for you :)

we complete on Tuesday...almost there ourselves now.
 
randal said:
We're in.

Completed at 11am this morning.

Place was an absolute sty when we arrived, wasn't expecting a show home but it was a state. Had to deep clean every room before unpacking, not cool with a 1 year old toddling about.

The place we moved out of was immaculate, we couldn't have left it any other way. Shame others don't feel the same way. Bad karma yo.

But still, we're in. Let the DIY and build threads commence. :)
Click to expand...

yay!

Yeah, the place is in a state but you're in now and get the fun of finding all the stuff they left....how was the loft :p

as for us...we've been in a week now and loving it. There was, naturally, last minute drama when the da before completion I get an email at 3pm from the solicitors telling me they didn't have enough money to complete! they wanted another £65......a phonecall telling them how unimpressed I was that they were telling me at 3pm the day before having already sent me the completion statements the week before which I'd sorted did the trick, they covered the £65 until the transfer arrived and we completed at 1.30 on 15th :)
 
Karl said:
Threats from my vendor this time. We've been on schedule to exchange today or tomorrow for ages, and this morning my solicitor gets an email from theirs saying they want to withdraw. Then another email asking how far along we are. :confused:

They've agreed they'd pay for the dry rot treatment, but now they're making noises like they don't want to, and this is all thrown in together with demanding that it needs to be done ASAP and we need to complete yesterday.

We're all set to exchange today, and the solicitor has told theirs exactly that. If they do it, it's easy street. Essentially today I find out if I'm actually getting the house or not.

This seller is a penis.
Click to expand...

stick to your guns, they're probably just trying to pressure you to exchange without them paying for the dry rot treatment.
Its hard because you've become attached to the house but stick with it and you'll be ok.

Fingers crossed for you :)
 
Karl said:
The vendor is going to pay for the treatment required, so all is going ahead! We'll be exchanging tomorrow, and completing the following Thursday. THANK CHRIST. (Don't actually thank Christ. It was all me).
Click to expand...

Good stuff! Fingers crossed for the exchange tomorrow. You're almost there :)
 
Karl said:
We're due to complete today, and now I'm starting to feel a bit nostalgic and sad about leaving my old place behind, having lived there for the last eight years. I don't particularly like the area or the people around me, but I have grown accustomed to the inside as you do.

On to bigger and better things, but still a strangely sad time for me.
Click to expand...

for us the saddest bit was the last walk round of our old home, the echo's the rooms made and that final click of the front door.

But then we got to the new place and remembered exactly why we did all this! Yeah the old place was nice and we have a lot of fond memories but.....new house is wayyyyy better!
 
You must log in or register to reply here.
Back
Top Bottom