The nervous wait to exchange....

  • Thread starter Thread starter noj
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jonneymendoza said:
what solictor did you use? I hope not the one the EA appointed!
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No we used a large firm (Setfords Solicitors). They've done a bang-up job - it's just the other side who used Strike Conveyancing (subbed out to PPL).

We've had the slightest of movement today - the deed of variation has reached the solicitor of the landlord rather than of the vendor, however this is to our advantage as they need to sign/witness the deed. Bad news is it needs to then move on to the vendors, who have split up and live in different parts of the country so it'll take even longer to go around to those to be signed and witnessed. However, our solicitor has now said "this is the light at the end of the tunnel" so as soon as this document is back and scanned we can set the completion date.

Talk now of "start of June" for completion which could end up being a pain as if it isn't done by the 1st of June then we'd have to wait until the 6th thanks to double bank holiday and weekend. Typically, my partner is off work on that bank holiday week, as is the friend I've roped in to help us move, so Sod's Law does indeed state it'd be the 6th or later just because then I'll have to move everything on my own :p
 
I wonder if we are able to ask what solictor the seller is using prior to accepting an offer?

It seems like we should be asking because if they use a **** solictor then its going to be such a pain and hassle getting it all wrapped up and keys to your new house
 
jonneymendoza said:
I wonder if we are able to ask what solictor the seller is using prior to accepting an offer?

It seems like we should be asking because if they use a **** solictor then its going to be such a pain and hassle getting it all wrapped up and keys to your new house
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True, though the consensus seems to be that if the house purchase is "normal" even the cheap solicitors are fine, it's just the moment it goes off script is where it falls apart, and the more expensive (and more experienced) solicitors shine through.
 
squerble said:
True, though the consensus seems to be that if the house purchase is "normal" even the cheap solicitors are fine, it's just the moment it goes off script is where it falls apart, and the more expensive (and more experienced) solicitors shine through.
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I would disagree on that.. Our purchase is very "normal" but vendors solicitors are slow or should I stay unresponsive. They only respond when we chase them multiple times. It's been nearly a month since our solicitor sent enquiries to them, we waited 2 weeks and nothing. Chased hard last week and finally they pulled their finger out and sent them over to vendor who I presume due to lack of knowledge or the fact that their solicitors are 6 hour round trip away is now going to EA to help fill them in. So 3 weeks before it even reached the vendor, basically: no chasing and they'll sit on it doing nothing, chase and they'll get their finger out.

I'd recommend independent to anyone, never go EA. They're too busy and too full of it.
 
What's the lowest offer you have made on a house? Guides around that I have read said around 5 to 10 percent lower offer you could start as an initial offer.

Is that right?
 
jonneymendoza said:
What's the lowest offer you have made on a house? Guides around that I have read said around 5 to 10 percent lower offer you could start as an initial offer.

Is that right?
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It's really area dependent so you'll just have to familiarise yourself with your local market.
I was looking for about 2 years before I started putting offers in and had rightmove email alerts set up, and checking past sales prices on zoopla.

So I had a really good idea of what was what, what was selling fast and what was over priced and sat on the market for months.
 
jonneymendoza said:
What's the lowest offer you have made on a house? Guides around that I have read said around 5 to 10 percent lower offer you could start as an initial offer.

Is that right?
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4% seems reasonable e.g. 550k -> 525k.

Anything higher and there should be universal fundamental issues e.g. state of disrepair, 'plot bound' ...
 
For example a mate of mine said on a previous house I was looking at... You'll have to offer 20% over asking price..


Well that didn't last, they accepted my offer of the same price as it was listed for and then the L3 survey came back with 20k+ work needed.

And that's actual work rather than general stuff surveys mention about roofs etc that they have to say to cover thier own backs
 
Reason I ask is I saw a property twice actually and in the 2nd time I took a family friend who's an engineer/electrician and he said expect to dump 20k just to replace the heating and new wiring....

That doesn't account for the floor needs replacing including some of the floor bored just by walking around the house..
 
jonneymendoza said:
Reason I ask is I saw a property twice actually and in the 2nd time I took a family friend who's an engineer/electrician and he said expect to dump 20k just to replace the heating and new wiring....

That doesn't account for the floor needs replacing including some of the floor bored just by walking around the house..
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Exactly. There are chancers out there who will try to sell a house at current market rate assuming no work needs doing.

I pulled out of my previous purchase for this reason.

It cost me £500 for the survey but the sellers wouldn't drop the price enough to reflect the significant issues the survey mentioned.

I think they sold it in the end for 5k more than my reduced offer. About 15k more than it was initially advertised for.
So I dodged a bullet bit I'm £500 down for my efforts.

You really need to be on the ball with this stuff as it's a lot of money and a long term commitment.
 
jonneymendoza said:
What's the lowest offer you have made on a house? Guides around that I have read said around 5 to 10 percent lower offer you could start as an initial offer.

Is that right?
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Depends on area. My area is hot so offering under is pointless as it’ll never be accepted. Our offer was accepted at 8% over.

Initial offer you can try and go under as majority will go for final offers.. surveys as others said can show problems which may let you revise the offer after but it’ll be up to vendor to accept it or not.
 
mattyfez said:
It's not an auction.. If you know the market.

Offers 'over' is bs. You'll already know what it's worth give or take 10 %.
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Worth vs what it’ll go are completely different things these days… everything is going way over here. And I’ve heard similar in other areas. Back 2-3 years and it was different. Not now.
 
danlightbulb said:
Ive just had an offer accepted! Im so relieved I've finally found somewhere.

Not cheap though. £20k over asking price, multiple offers all about the same level.

Now Im right at the early stages of it so I know things can go awry but keeping my fingers crossed.
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Gratz! First step done..
 
Congrats mate :)

So weve been trying to contact the last buyers solicitors to get a copy of the searches...

Been best part of 2 weeks and were still awaiting them replying lol.

True solicitors, avoid them haha

Muve however have been great
 
Has anyone ever done say 5 viewings a day and then made offers on more than one?

Is it bad to do so? I have seen 2 that I really like but worried if I just do one offer I could lose the other property I like.

Do people also use buyer agents?
 
danlightbulb said:
Ive just had an offer accepted! Im so relieved I've finally found somewhere.

Not cheap though. £20k over asking price, multiple offers all about the same level.

Now Im right at the early stages of it so I know things can go awry but keeping my fingers crossed.
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Congrats mate! First step in the long road! Hope it all goes well with no stress /issues
 
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