The nervous wait to exchange....

  • Thread starter Thread starter noj
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Stamp duty extension to June confirmed (and 0% up to 250k to September) Hopefully I can exchange before march regardless..
 
Buffman said:
and 0% up to 250k to September
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I wasn't aware of that, that's excellent news for me since we've only just had our offer accepted and the onward seller hasn't found a house yet, I don't think there's much hope to complete by the end of June, but end of September is a more realistic target and saves us some money.
 
ChrisD. said:
I wasn't aware of that, that's excellent news for me since we've only just had our offer accepted
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Congrats! I just saw the post above. Have you sold your house? Surprised they accepted the offer if you haven't already sold (i made that mistake with my first buyer albeit I bet yours is priced realistically such that it will sell..)
 
Buffman said:
Congrats! I just saw the post above. Have you sold your house? Surprised they accepted the offer if you haven't already sold (i made that mistake with my first buyer albeit I bet yours is priced realistically such that it will sell..)
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No, however part of our offer was that if we don't find a FTB or no chain buyer before they find an onward property, we'll let our house out and buy it as no chain. I'd rather not the latter, but thankfully we have enough in the bank to make it happen.
 
ChrisD. said:
No, however part of our offer was that if we don't find a FTB or no chain buyer before they find an onward property, we'll let our house out and buy it as no chain. I'd rather not the latter, but thankfully we have enough in the bank to make it happen.
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Great position to be in! I'm leveraged up to my eyeballs so couldn't even consider it on my onward purchase :D
 
Buffman said:
Great position to be in! I'm leveraged up to my eyeballs so couldn't even consider it on my onward purchase :D
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Ha, it’s not something we want to do ideally. We’d have to release a lot of equity and maybe go interest only on the BTL mortgage, plus the extra stamp duty etc etc. But we’ll do it if we have to.
 
413x said:
I couldn't do it. Working during the day means morning sun is of no value. There's a lovely house opposite but it's garden faces north east! Must be im Shade all afternoon and evening
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Fact is our garden isn't in the shade all day, and angle allows even more sun come the evening. Winter it's pretty bad but we're not out there when it's 0c, even now we're quickly regaining our garden to the sun.
 
Our site guy who my contact is appears to be avoiding my questions now, lovely, don't lie through your teeth on their survey and they behave like this. :D
 
Has anyone ever received (or put in an offer) on a house without viewing? As that’s what we’ve just received. No chain buyer, agent are going to do their checks etc. It’s below asking but not insultingly slow.
 
ChrisD. said:
Has anyone ever received (or put in an offer) on a house without viewing? As that’s what we’ve just received. No chain buyer, agent are going to do their checks etc. It’s below asking but not insultingly slow.
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I had a buyer investor veiw my house for 5mins max.
Didn't hear anything until a month later when he put an offer in 10k under asking.
 
ChrisD. said:
Has anyone ever received (or put in an offer) on a house without viewing? As that’s what we’ve just received. No chain buyer, agent are going to do their checks etc. It’s below asking but not insultingly slow.
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Investor - you live there now, house is fine, he'll send a surveyor and he'll try and scalp you for a few more quid late into the sale process for whatever the surveyor finds. Surveyor likely 'on his books' so lots of fine tooth comb type stuff will come up.
 
dLockers said:
Investor - you live there now, house is fine, he'll send a surveyor and he'll try and scalp you for a few more quid late into the sale process for whatever the surveyor finds. Surveyor likely 'on his books' so lots of fine tooth comb type stuff will come up.
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That would absolutely be the type of buyer you want to avoid :D. I'd get your agent to gauge why they want to buy the property/presumably they want to view the place before further negotiation?

I wouldn't deal with people who dont make the effort to view the house but I've had 2 bad buyers
 
Thanks, makes sense. The house we were going to buy, and the vendor of that who was going to buy ours, well, she's been in touch and still wants the house and has sold to a no chain buyer who lives local. Better option?
 
I'd say so - it could still be a nightmare but a no-viewing-offer type mentality screams money not love. They will have a process of shafting as making friends/moral obligations is absolutely no where near their radar. It will boil down to an Excel model and paying you less helps them make a better return.

Sounds like this lady likes the place enough to chase you down.
 
Buffman said:
Stamp duty extension to June confirmed (and 0% up to 250k to September) Hopefully I can exchange before march regardless..
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Fingers crossed for your completion. I hope we can too. We're due for the 26th.

We've been shafted by our own up here. Stamp duty holiday will end at the end of March for those of us north of the border. Bloody SNP :mad:
 
ChrisD. said:
Thanks, makes sense. The house we were going to buy, and the vendor of that who was going to buy ours, well, she's been in touch and still wants the house and has sold to a no chain buyer who lives local. Better option?
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I would say that's a better option than investor. She's obviously keen on your house, just vet that her buyer is in a good position to proceed/keen on her house.
 
Buffman said:
I would say that's a better option than investor. She's obviously keen on your house, just vet that her buyer is in a good position to proceed/keen on her house.
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Her buyers were wanting to buy some land and build a brand new house on it, he's a property developer/builder or some such. They currently rent in town and due to covid putting back their building plans they're just going to buy a house and look at doing some work on it.

I guess the bonus would be that her solicitors have already done the searches on the house. And also the fact that she still wants it even after us pulling the rug from under her a few weeks ago.

The only thing is that she wants to move quickly and I believe our onward vendors are in less of a rush, so that may complicate things.
 
Buffman said:
Its best I don't voice my opinions on the SNP on public forum:D.

Good luck with your exchange, my only concern would be one party being uncontactable on the 26th and it rolling over a few days..
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It's best I don't either!

Thank you. It's a new build so hopefully that won't happen.
 
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