Man of Honour
The FHTB delay should only really mean that the minimum time from exchange to completion will be 2 weeks, am I right?
The nervous wait to exchange....
- Thread starter noj
- Start date
Associate
Well I would hope so. I'm not quite sure. I was told by solicitor yesterday she couldnt see any reason why it couldnt be done in 4 weeks from now.
The transfer of funds will be the final thing so I guess there is no reason why it shouldnt .
Soldato
Won't mean a thing when solicitors are selling as Executors. If there's a chain that falls through, that's extra abortive legal fees payable by the estate
With the FHTB scheme, minimum time from exchange to completion is 10 working days, and I'm guessing that's from when your solicitor tells the MOD you've exchanged. It was in our case anyway.
Associate
So after a two week frenzy of viewers things have died down significantly. Just the one viewer coming this week, no offers to date. Ho Hum, the wait continues.
have you had any feedback at all from the viewings?
even if there are no offers it would be useful for you to know what people are thinking about your place so you can see if you need to do anything to make it more sellable
there is always a rush at the beginning as your property is 'new' to the area. If you have had 5-10 viewings and no offers then its quite probably too expensive. Its often best to knock it down quick rather than let it sit on the market and hanging around like a bad smell. everyone can see everything now thanks to Rightmove and Zoopla etc. Ive not seen your house of course and therefore could be wrong
Associate
there is always a rush at the beginning as your property is 'new' to the area. If you have had 5-10 viewings and no offers then its quite probably too expensive. Its often best to knock it down quick rather than let it sit on the market and hanging around like a bad smell. everyone can see everything now thanks to Rightmove and Zoopla etc. Ive not seen your house of course and therefore could be wrong
Feedback has either stuff that we can't change like they wanted a more open plan downstairs, more space or they were new to the market and still have a load of properties they want to look at. As far as I know we are one of only two properties in the estate of our house type, the other is a wreck and needs a lot of work.
I think that the biggest problem is that it isn't the coolest, most desirable area right now. One of my friends was looking to buy in the trendy area and really struggled to buy as developers where snapping up the properties as soon as they came on the market.
EDIT: as for knocking the price down, we are prepared to be low-balled by about 5-10% but knocking any more off and we can't viably move anywhere.
We had an offer accepted on a house at the end of January, now we're into June and the seller still hasn't found anywhere to live. Thankfully the buyer for ours is an investor and has been patient. I'm not too fussed about losing our buyer though as we're in a very desirable area, but the wait has been doing our heads in. We just want to move in!!
Soldato
signed paperwork today,
our solicitor is waiting for two things from the sellers solicitor, we can then hopefully exchange and then a week to complete
fingers crossed the sellers solicitor is quick, they have been on holiday two weeks which has basically killed everything
our solicitor is waiting for two things from the sellers solicitor, we can then hopefully exchange and then a week to complete
fingers crossed the sellers solicitor is quick, they have been on holiday two weeks which has basically killed everything
Soldato
- Joined
- 1 May 2003
- Posts
- 11,191
Can't you be pushy with the seller and give them an ultimatum, or get them to move out into rented accommodation.
Why did the seller even put the house on the market, when they haven't got a new place lined up?
Soldato
Surely if they did that it would just become the same situation on the other side, then you could say why did they put an offer on a new place when they hadn't even had one on their own property yet?
The majority of people I see start their sale before their purchase, so it seems what they have done is the "norm". It's just taken them longer than normal to find a purchase.
Associate
So just had a call from the estate agent, the viewer yesterday was from a social housing scheme who are looking to buy property in our area. They seem very keen but need to get a survey before making an offer. Has any one delt with this type of sale before, anything that I should be aware of incase they make an offer?
Soldato
Nothing to worry about that I have heard of, but hope your moving away from the neighbourhood lol
Your neighbours may not like who moves in afterwards
Associate
well, what a massive kick in the balls today has been.
After being first to view the house and putting an offer in straight away of asking price, the estate agent showed 3 more people round before stopping viewings.
today i find out that someone has also put in an offer at asking price, however they are a cash buyer and they don't even require a survey, they are just willing to buy right away.
All i could do was offer 5k above asking, which i've found out the other party immedietely matched. estate agent is speaking to the solicitors tomorrow where a decision will be made....hmmm i wonder who they'll choose!
so annoying, i'm not in a chain, mortgage in principal, agreed to anything the survey finds it wouldn't change the price.
Assuming they choose the other party i'll throw another offer in, if i'm losing this house i want at least i'll force the other party to pay top dollar for it!
After being first to view the house and putting an offer in straight away of asking price, the estate agent showed 3 more people round before stopping viewings.
today i find out that someone has also put in an offer at asking price, however they are a cash buyer and they don't even require a survey, they are just willing to buy right away.
All i could do was offer 5k above asking, which i've found out the other party immedietely matched. estate agent is speaking to the solicitors tomorrow where a decision will be made....hmmm i wonder who they'll choose!
so annoying, i'm not in a chain, mortgage in principal, agreed to anything the survey finds it wouldn't change the price.
Assuming they choose the other party i'll throw another offer in, if i'm losing this house i want at least i'll force the other party to pay top dollar for it!
Don
Gutted, get out and get looking for something new
Every cloud has a silver lining, who knows what else is around the corner!
I am upping the heat on the involved parties in my transaction, and have started to give dates that I want stuff done by. As I really feel exchange is over-due now
After this, my solicitor is now "confident" we will exchange by end of next week. So I am just going to be calling up all parties daily to check on progress. I don't care how that makes them feel at this stage. Having met the seller, I am confident they are not holding anything up and are just as keen as us to get moving!
Every cloud has a silver lining, who knows what else is around the corner!
I am upping the heat on the involved parties in my transaction, and have started to give dates that I want stuff done by. As I really feel exchange is over-due now
After this, my solicitor is now "confident" we will exchange by end of next week. So I am just going to be calling up all parties daily to check on progress. I don't care how that makes them feel at this stage. Having met the seller, I am confident they are not holding anything up and are just as keen as us to get moving!
Associate
Well it turns out my solicitor is actually still waiting on searches from the damn council. It's took them ages. The estate agent says our local council has a backlog to get over as they were closed for the election and bank holidays. They better pull their finger out because everything else is covered.
I was expecting end of this month but I'm not confident about that now.
Must be like 5 weeks for search stuff.
I was expecting end of this month but I'm not confident about that now.
Must be like 5 weeks for search stuff.
Associate
forgot to update on here, got my keys last wednesday! woop woop!
funny story though. wanst at the time!
We was told that it could possibly not be the 5th (wed) that it could be completed by, and the vendor was actaully going away the thursday! so i was stressing with work and this on top, other half going mad etc.
She then rang me on the wed (i was working away), and told me the vendor wants us to come round for a chat. in my head, i was thinking shes gona say itll have to wait until shes back in a fortnight, so had that in my head all afternoon!
To then get home, drive round to the house, knock on the door to no answer. For the other half to open the door and say surprise.
I could have KILLED THE ****
so yeah, completed on the 5th as planned(ish) spent last weekend stripping walls ready to be reskimmed and painted!
Cant wait to eventually get in!
funny story though. wanst at the time!
We was told that it could possibly not be the 5th (wed) that it could be completed by, and the vendor was actaully going away the thursday! so i was stressing with work and this on top, other half going mad etc.
She then rang me on the wed (i was working away), and told me the vendor wants us to come round for a chat. in my head, i was thinking shes gona say itll have to wait until shes back in a fortnight, so had that in my head all afternoon!
To then get home, drive round to the house, knock on the door to no answer. For the other half to open the door and say surprise.
I could have KILLED THE ****
so yeah, completed on the 5th as planned(ish) spent last weekend stripping walls ready to be reskimmed and painted!
Cant wait to eventually get in!
Soldato
We're viewing a house tomorrow morning and, according to the selling agent, at the same time as somebody else. That sounds a bit weird.
Don
Not really, it happens all the time at open house events.