The nervous wait to exchange....

[noj]

Well the survey really isn't anywhere near to exchange or completion. You still need to have your searches done (takes around 10 days - but if they recommend other searches you need then you need to wait longer) and you still have a mountain of paperwork to read, sign and return.



M.

Searches are already done (apparently the whole chain has completed searches as well) we've had our additional ones back and draft contract paperwork is with solicitors for us and the people we're buying from.

I agree that there will still be a load of papers to sign but hopefully not a big delay on it.

 

[m4cc45]

In that case it's not too bad - people normally do the survey right at the start so they don't waste money on other things if the survey comes back suggesting the house is falling down.

Last time we exchanged we had moved around 3 days later.

Still can't believe, in this day and age, we have to mess around with physical copies of documents, ID, etc.



M.

 

[noj]

Still can't believe, in this day and age, we have to mess around with physical copies of documents, ID, etc.

M.

Yeah that is madness....luckily I work for a law firm so I got a stack of all our documents legally certified and just fire them off whenever asked for. I also shove them in the DX mail to make sure it gets to the conveyance firm next day without nonsense

 

[Siliconslave]

We're at the end of the second week post accepting an offer now. Aiming for a ten week cycle to move (into rented).

Apparently our draft Contract and supporting documents have been issued to our Buyer’s solicitor which i guess is a good start, still almost a fortnight after we gave the docs to the solicitors though

Sounds like our buyer is waiting for their buyer to do a survey first which, while it makes sense, is a little annoying. He seems like a decent guy though and really keen to get moving, plus we now have his e-mail & phone number (after he came round to 'measure up' earlier this week)

 

[DarrenM343]

I feel sorry for those who have to do the sell to buy and all exchange on same day - too stressful! I'd rather move into rented accom for a while after selling, to search for the next house. Likewise I have little interest in buying a property in a chain either and then waiting and hoping..... Selling and buying and pushing all the paperwork around and all to happen on the same day for the final move all seems a bit old fashioned to me too

To OP, congrats on selling for above asking price. May I ask why they did that? Did they just offer above asking or did you pursuade them? Neither wrong but interesting to hear. I think the market is getting a bit daft again. I asked about a property recently and was told that someone placed an offer and before it was rejected they raised their own offer which seems a bit daft when there were no other offers, and the property had been on the market for 6+ months

 

[HangTime]

I guess it depends on what you find stressful - for me having to move twice would be much worse not to mention all the additional fees etc (lack of chain might help recoup some of these)

 

[noj]

To OP, congrats on selling for above asking price. May I ask why they did that? Did they just offer above asking or did you pursuade them? Neither wrong but interesting to hear. I think the market is getting a bit daft again. I asked about a property recently and was told that someone placed an offer and before it was rejected they raised their own offer which seems a bit daft when there were no other offers, and the property had been on the market for 6+ months

we did the open house malarky. So on the day we had 23 couples view the house (we went out) we then got 3 asking price offers on the Monday and we went to full and final offers.

all 3 offers increased above asking price ranging from 7.5k above to 12.5k above. Hell I like our house but its madness in my opinion. The couple that offered most said they really really liked it and were not going to loose it.....

The market in our are has gone crazy and I'll be honest enough to say that its one of the reasons we chose to move now. We can make extra money on our house and by moving 20mins south cash in on it.

 

[noj]

another update today...

Survey back - all fine and no issues.
Mortgage approved - papers due out this week
Draft contract pack out to us today - the fixtures and fittings piece and answers to queries

Survey on our current house happening on Thursday which is the next milestone. Expecting a couple of issues to come up as they did when we bought the house. Nothing significant since we've done a load of work since we moved in.

Expecting them to bring up some cracks in the plasterwork and ceiling finishes, all the ceilings are lathe and plaster so getting old now (house is near enough 100 years old now), and flaking to the pebbledash. We shall see.

 

[meandu229]

another update today...

Survey back - all fine and no issues.
Mortgage approved - papers due out this week
Draft contract pack out to us today - the fixtures and fittings piece and answers to queries

Survey on our current house happening on Thursday which is the next milestone. Expecting a couple of issues to come up as they did when we bought the house. Nothing significant since we've done a load of work since we moved in.

Expecting them to bring up some cracks in the plasterwork and ceiling finishes, all the ceilings are lathe and plaster so getting old now (house is near enough 100 years old now), and flaking to the pebbledash. We shall see.

Our survey was done today and has gone to bank so we dont know what it says yet, plodding on.
Grats on getting all your stuff sorted.

 

[Firestar_3x]

My valuation report went to the bank on tuesday, got an answer yesterday saying:

"The property for the above mortgage application has been valued and we are pleased to confirm the requested loan amount of £xxx is available.

The valuer has made additional comments on the report. We will contact you once these have been reviewed and provide any next steps that may be required."

No idea what those other comments could be, hopefully i will get a copy in the post, in the meantime my Mortgage Advisor is trying to find out.

 

[Nutella33]

after a large faff regarding uncontactable solicitors and a few weeks extra added onto the process due to this and niggling issues, finally exchanged today taken since the middle of feb with about a month added on due to working out rights of way/ownership issues and sorting out a bit of work the survey brought up.

my advise is not to expect people to contact you, just ring round and get updates as much as possible.

In regards to survey if you know who is doing it for the bank/survey company give them a ring directly and ask them for a emailed copy which most will have as well as the printed copy they send you once you know its completed. that saved me about a week of not knowing and twiddling thumbs whilst everyone else looked at it :/

 

[R B Customs]

We got our mortgage application in the day before the regulation changes for our bank - this was fantastic at the time but now we're paying the price as they're taking AGES. our mortgage advisor is being great about the whole thing but he's saying they're taking about 5 days to look at a piece of evidence then another few days to reply to him to comment on it. there's just a huge turnaround on the correspondence between them, him and us. He say's it's unusual and is caused by their workload suddenly increasing trying to work out the new style of application.

They have everything they have asked for now so I should hopefully find out soon, but not holding my breath! I'm expecting it to be mid to late next week.

I'm keeping the estate agent sweet by staying in touch, however, for all of the emails I've sent her (which sometimes include questions) I've not had a single reply - it's very annoying how modern, professional people cannot communicate through email [/rant]

 

[Siliconslave]

so a little spanner thrown our way this week - our connecting neighbour has just told us they are planning on doing a single story extension They are doing it within the limits so don't need planning permission.

Thankfully they've given us a copy of the plans which we've forwarded on to the solicitor, just gotta hope it doesn't put off or delay our buyer!

 

[TommyV]

Got a good offer on our house, buyers in a good position and offered above asking price.

Had an offer accepted on a house, below asking price

Paperwork on the go, now got that nervous wait until exchange of contracts. Want to get excited by the prospect but worried it'll all fall through The new house is twice the size of our current house and I'll be able to have a proper man cave whilst the Mrs has a room and we still have a guest room.

Roll on exchange so I can get properly excited by it all

In the same position now dude.

Searches done, fixtures and fitting/epc etc etc, mortgage offer received having had the survey done, just waiting now......waiting painfully...

 

[ocmanus]

Exciting and nerve-racking at the same time! We've not had to go through this for some time, but expect we'll have to over the next 12 months and am not looking forward to the whole process.

Almost there noj!

 

[R B Customs]

bit of good news today!

our mortgage is now agreed pending valuation, so the bank will instruct a surveyor to the property and then go from there - hope that works out as I'll be instructing my own after seeing the report.

I also have the list of contents and from the solicitors (TA10) and the property information form (TA6) not really sure how far I'm meant to go arguing the toss over what's included and what isn't but I'm thinking about opening up negotiations for a fridge-freezer in the house. It's an odd 70CM wide one and to be honest,if they take it I will only be putting the same on in its place so I'm thinking about asking for it to be included or asking to buy it off them.

There's also a few things like wardrobes they are saying will be included, which I don't really want. should I just keep them and use them for now then hire a skip? or say I don't want them. nothing is a deal breaker for me I just don't want to end up with a load of junk!

The property information form throws up a few questions about the heating, boiler and electrics which I need to look into so will post back if I'm still alarmed on second look at the details.

 

[noj]

Almost there noj!

Hopefully so!

Got more papers over the weekend including the draft purchase contract and land reg form to sign. Also received the fixtures and fittings list to see what is being left (not a lot)

That lets us tell our buyers what we're leaving and what's available if they want to buy it (Wall mounted tv £100, range cooker £300 sound reasonable?) we'd have liked to have just left them but we now need to buy more bits so getting some cash out of stuff will be very useful.

The survey got done on our house on Thursday and nothing really came up (we asked the surveyor nicely before he left) a bit of damp round the front door was the mastic has come away, a bit of damp on the chimney stack in the loft but apart from that nothing too bad...hopefully.

 

[meandu229]

Well our survey came back 2 red points being gas and electrics have been untested for 10 years (property only 12 years old) and a amber of small amount of moss on the roof which need looking at. So pretty good on that front. Got meeting with mortgage advisor tomorrow to keep everything moving forward, lawyers said searches and such have been done now too.

 

[Firestar_3x]

Survey came back yesterday, 3 red points, all about the boiler and electric not having a recent test / inspection certificate, no big deal really.

Valuation was the same as i paid (no shocker really), rebuild cost is slightly more than i was expecting.

All the searches are done,i have the land registry form to sign, mortgage offer was finally sent to the solicitors yesterday, so should be getting the contract in the post very soon.

 

[Siliconslave]

are you two buying off each other?? Sounds like its going well for everyone so far - if the only thing that comes up in the survey is the gas / electric your doing very well, surveyors seem to love covering their ass and will pick up on anything they can

I've got 6 weeks till our idea completion date and still no survey yet - the whole extension thing is putting a bit of a delay in the works so not hassling the buyer for now, but that might have to start next week...