The nervous wait to exchange....

Soldato
Joined
9 Mar 2003
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10,590
Right, so I'm expecting through the lawyers paperwork soon. I've got it from a previous one that fell through so took a look through that. Got a few questions if anyone is happy to answer.

Expected completion date... I don't know? Surely the solicitors should be in a better position to know that than me? 8 weeks seem reasonable? 6? It states that things change, so it's only ever a guesstimate, just put 6 weeks and to hell with it?

Buildings insurance. They want the details of the company etc, but until I have a completion date, then buying insurance seems daft? Or can you get it all in place, and then you let the insurance company know when exchange/completion is meant to be?

They want a steer from you as to when you want/need to complete by.

As for insurance, either give them the name of the current lot (assuming you’ll just move it over) or tell them TBC. You need it in place for exchange and your current insurer will normally cover both properties between exchange and completion before transferring it over to the new one. There was no charge the last time I did this but your mileage will vary.
 
Soldato
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Just had confirmation from my solicitors that exchange has completed, and the completion for the house is a week today :) Can start to relax a little bit now.
Congrats!

I'm underway again, waiting for searches to come back but the vendor has now had the boiler and chimneys sorted (checked/cleaned/serviced) and the Level 3 Building Survey and EICR has been booked.

They've covered the cost of the boiler and chimensy and I've covered the cost of the survey and eicr (obviously)... Now to see what that comes back with! Valuation has all been accepted by the lender though!
 
Soldato
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Congrats!

I'm underway again, waiting for searches to come back but the vendor has now had the boiler and chimneys sorted (checked/cleaned/serviced) and the Level 3 Building Survey and EICR has been booked.

They've covered the cost of the boiler and chimensy and I've covered the cost of the survey and eicr (obviously)... Now to see what that comes back with! Valuation has all been accepted by the lender though!

In a similar position to yourself i.e. waiting on searches to come back after valuation completed. Survey booked too.
 
Soldato
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Here and There...
We’ve had all the surveys and follow up reports done and just submitted a revised offer based on the findings. Expecting some pretty tough negotiating over the next few days but we will see. Also had a massive delay on one of our mortgages where after weeks of we will let you know they are suddenly asking for more information and evidence. Let’s hope they sort it quickly!
 
Soldato
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We’ve had all the surveys and follow up reports done and just submitted a revised offer based on the findings. Expecting some pretty tough negotiating over the next few days but we will see. Also had a massive delay on one of our mortgages where after weeks of we will let you know they are suddenly asking for more information and evidence. Let’s hope they sort it quickly!
Haha I had that, Nationwide accepted my payslip and that's all they wanted, then it was proof of deposit and then it was wait whats this car allowance about etc etc

How much did your survey find and what level did you go with? Did you go in to try to negotiate 100% of the issues and their values - This is new to me :D

I'm expecting a re-wire at the minimum at the moment :(
 
Soldato
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Under The Desk, Wales
Waw, went to view a house tues and turns out 6 of us put offers in!

We all got asked our final amount we willing to pay.

Just found out i got the house!!

Here goes on the scary road of property purchasing!

Surveyor going round to the property tomorrow too! The firm know me and are able to get it sorted asap plus, instead of £480 they charging me £360 inclusive of VAT..
 
Soldato
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13,849
Waw, went to view a house tues and turns out 6 of us put offers in!

We all got asked our final amount we willing to pay.

Just found out i got the house!!

Here goes on the scary road of property purchasing!

Surveyor going round to the property tomorrow too! The firm know me and are able to get it sorted asap plus, instead of £480 they charging me £360 inclusive of VAT.
Congrats/good luck. :D
 
Soldato
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23 Sep 2005
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Dundee
That really is VERY large. My 4-bed new build is pretty spacious at 150m2, a new build with over double that is massive :eek:

Yep, it will be big! We haven't seen the exact house type (it is new), but viewed a "smaller" type they have at 302m2 which was amazing, dream house for us. Building is due to start just after Christmas so should be able to get a look around Easter time.

edit: the housetype is this - The Rannoch - Inchmarlo (kirkwoodhomes.co.uk) (albeit at another development which is quite a big cheaper!)
 

Jez

Jez

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Yep, it will be big! We haven't seen the exact house type (it is new), but viewed a "smaller" type they have at 302m2 which was amazing, dream house for us. Building is due to start just after Christmas so should be able to get a look around Easter time.

edit: the housetype is this - The Rannoch - Inchmarlo (kirkwoodhomes.co.uk) (albeit at another development which is quite a big cheaper!)
Insane how cheap houses are up there. You are very spoilt to live in such an affordable area in a way. :) There are plenty of newbuilds of that size down here, but they are at least double the price as that shown there.

At those prices, i have to wonder if there is even much of a saving with buying an older house up there? Down here newbuilds command quite a premium, assuming good mature plots and non estate/small development locations.
 
Soldato
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Insane how cheap houses are up there. You are very spoilt to live in such an affordable area in a way. :) There are plenty of newbuilds of that size down here, but they are at least double the price as that shown there.

At those prices, i have to wonder if there is even much of a saving with buying an older house up there? Down here newbuilds command quite a premium, assuming good mature plots and non estate/small development locations.

We do like the area we are in, but there just aren't any older houses of that size. We did look at this (Savills | Ashwood House, Murroes, By Broughty Ferry, Angus, DD5 3PB | Property for sale) but outwith our budget! I work with a few guys in London and they are amazed at the prices up here. I do point out they typically earn a lot more though!
 

Jez

Jez

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33,075
We do like the area we are in, but there just aren't any older houses of that size. We did look at this (Savills | Ashwood House, Murroes, By Broughty Ferry, Angus, DD5 3PB | Property for sale) but outwith our budget! I work with a few guys in London and they are amazed at the prices up here. I do point out they typically earn a lot more though!
That to be fair is miles larger/different league to the newbuild you posted :) Amazing for £1m though, absolutely amazing - that is more of a "normal" budget down here (ie, houses at this price are far from impressive as such).

Good luck with the purchase, i am usually really anti newbuild, but ive nothing against good ones like that.
 
Soldato
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That to be fair is miles larger/different league to the newbuild you posted :) Amazing for £1m though, absolutely amazing - that is more of a "normal" budget down here (ie, houses at this price are far from impressive as such).

Good luck with the purchase, i am usually really anti newbuild, but ive nothing against good ones like that.

Yes, it was pretty spectacular to be honest. Cutting the lawn would take a day!

Normally the same with newbuilds, seen a lot of expensive but poor quality ones but this builder seems good and know a couple of people who have purchased from them elsewhere and can't fault them. The thought of getting the current place on the market is already filling me with dread though!
 
Soldato
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UK
7mths on. Just had an offer accepted on another property, completely different location, price, size and everything else.

The sellers haven't even started looking for a new place by the sounds of it which is no real problem, happy to give them time as we are in rented accomodation and have a minimum 2mths to go anyway. Will just sit back and wait now, got far too invested in the previous property we were buying so will try and not even think about this one till im moving in.
Update!

The sellers found a new place pretty quick and we started things going with mortgage applications etc. We have just had the valuation come back and its 10k less than our offer. I don't really have that extra 10k to hand with having to cover stamp duty etc also.

I have met the sellers and we exchanged numbers etc and he was a great guy, not sure if I should reach out directly to him and ask to renegotiate down to the valuation from the bank or should I go through the estate agent?
 
Soldato
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7,009
Update!

The sellers found a new place pretty quick and we started things going with mortgage applications etc. We have just had the valuation come back and its 10k less than our offer. I don't really have that extra 10k to hand with having to cover stamp duty etc also.

I have met the sellers and we exchanged numbers etc and he was a great guy, not sure if I should reach out directly to him and ask to renegotiate down to the valuation from the bank or should I go through the estate agent?

100% go via the EA, it impacts their commission so they need to know. Additionally they have secured the sale and want it to proceed so will potentially use some influence to encourage the seller to aceppt.
 
Soldato
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Llaneirwg
Yep, it will be big! We haven't seen the exact house type (it is new), but viewed a "smaller" type they have at 302m2 which was amazing, dream house for us. Building is due to start just after Christmas so should be able to get a look around Easter time.

edit: the housetype is this - The Rannoch - Inchmarlo (kirkwoodhomes.co.uk) (albeit at another development which is quite a big cheaper!)

Absolutely enormous! :D

I'd say I'm jealous. But even in our small 3 bed I feel that it's enough cleaning etc!

That's certainly something I've learnt. I do not want a big house!
 
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