The nervous wait to exchange....
- Thread starter noj
- Start date
We had a bit of drama Friday once completed. The seller apparently asked to be out by 5pm, we were always told 1pm, which is standard. The agents kept ringing them telling them to get out and they were still packing. He threatened to smash the agents teeth down his throat and smash all the shop windows in.
Eventually got in just after 6pm Friday evening. They left with two bottles of wine and a card apologising to us for the hold up. We move in Saturday anyway. Mrs and solicitors were fuming.
We got the house 30k below asking price and 25k less than the last two offers that couldn't complete in time before their new build got resold. We sold our property first so we were in a better position and it paid off
now chain, all ready to go 
Eventually got in just after 6pm Friday evening. They left with two bottles of wine and a card apologising to us for the hold up. We move in Saturday anyway. Mrs and solicitors were fuming.
We got the house 30k below asking price and 25k less than the last two offers that couldn't complete in time before their new build got resold. We sold our property first so we were in a better position and it paid off
now chain, all ready to go
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This is the best advice, still took me about 6 weeks in total, not bad going by some accounts on here.
We got mortgage in principle on the 4th Sept and offered.
Monday after submitted mortgage application, half hour later it was agreed.
Tuesday 8th Sept they did the survey.
Thursday 10th bank agreed and sent paperwork.
Exchanged 2nd Oct.
Completed 9th Oct.
Chain was us, seller then builders.
Monday after submitted mortgage application, half hour later it was agreed.
Tuesday 8th Sept they did the survey.
Thursday 10th bank agreed and sent paperwork.
Exchanged 2nd Oct.
Completed 9th Oct.
Chain was us, seller then builders.
Soldato
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- 19 Dec 2003
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- 3,086
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- UK
We offered on a 1911 Edwardian Semi in early July, negotiated, agreed, went through the buying process (I spent the usual on searches etc) along with buying an independent survey (£650 by itself) which brought a fair few issues (windows & doors needed replacing immediately, soffits, guttering broken, damp, and the best one...A new roof urgently required!) We were aware it wasn't going to be perfect, and had already budgeted for windows and doors, and ignored the other stuff, we just told the seller the roof issue needed to be resolved, they agreed to drop £5000 as we had some quotes on new roof around the 6-7k mark, 4 days later, they decide to say they can't afford to drop £5000, so like it or lump it.
Of course, I pulled out, but lost over a grand just by someone agreeing one thing, then saying something else 4 days later, this whole process was over about 5-6 weeks, so we were close to exchanging.
We then viewed another property in late August, offered/back and forth a few times, finally agreed a price, and now hopefully, fingers crossed, should be exchanging this month, totally different property than the Edwardian property, this is a 1970's semi detached house, but looking back, that would have cost a fortune to sort out, don't get me wrong this one also has a few things that need doing, but nothing on the scale of the Edwardian one, as that didn't have gas heating or a gas feed, it was storage heaters all round!
It's a small comfort I suppose when thinking about the £1000+ lost on the first one!
Of course, I pulled out, but lost over a grand just by someone agreeing one thing, then saying something else 4 days later, this whole process was over about 5-6 weeks, so we were close to exchanging.
We then viewed another property in late August, offered/back and forth a few times, finally agreed a price, and now hopefully, fingers crossed, should be exchanging this month, totally different property than the Edwardian property, this is a 1970's semi detached house, but looking back, that would have cost a fortune to sort out, don't get me wrong this one also has a few things that need doing, but nothing on the scale of the Edwardian one, as that didn't have gas heating or a gas feed, it was storage heaters all round!
It's a small comfort I suppose when thinking about the £1000+ lost on the first one!
They weren't a condition of the mortgage, only the Local Authority search.
Tell me about it! It is really strange. In exactly 2 weeks I'll own a house (all being well). Whaaaat!
Well it looks like my new house is going to fall through, I need to be complete by Monday or its going back on the market. My solicitor still hasn't got anything back from the buyer of our house so I can't see it happening on time.
I've passed through **** off and now am just numb and want the whole thing to be over, we'll probably move in with my folks for a week or two and see what is available. After that will probably end up renting for a year.
Do I have any comeback against my solicitor, he took so long to do anything with our sale that our vendor lost patience. I don't blame the vendor I would probably have done the same thing.
I've passed through **** off and now am just numb and want the whole thing to be over, we'll probably move in with my folks for a week or two and see what is available. After that will probably end up renting for a year.
Do I have any comeback against my solicitor, he took so long to do anything with our sale that our vendor lost patience. I don't blame the vendor I would probably have done the same thing.
in reality pulling out of the sale when you are close is silly from the seller?
It will take longer for someone else to offer, exchange and complete before you probably can finalise things?
I would have thought so, but I can also see it from his perspective, being nearly 3 months since we went sale agreed and still no firm date on contracts being exchanged let alone completion.
Soldato
- Joined
- 4 Aug 2007
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- 21,988
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- Wilds of suffolk
Ouch.
If you read above I had to change solicitors mid way as the initial ones I engaged were just useless. Didn't reply to email (IT issues apparently), didnt answer the phone (I think now they gave out the wrong number so just wasnt actually ringing in the office).
Whilst a bit painful, I am so so happy that I changed as the solicitor I use now communicates really quickly by email and just gets things resolved.
I honestly think the law society should force solicitors to publish an SLA, confirming acceptable response times to issues, some just seem to live in their own world.
I am certainly nervous now, just waiting on a few queries to be confirmed by the vendor and we can exchange, with a view to complete the following week. No massive rush so having the week to draw all the monies seems to make sense.
Awesome - you buying locally, or within easy reach of St Mary's?
Strangely I'm completing on Friday for the second time... and then immediately moving out of the property
I can't picture what it'll be like on the two week count down! You must be buzzing now!
Awesome - you buying locally, or within easy reach of St Mary's?
Strangely I'm completing on Friday for the second time... and then immediately moving out of the property
Haha! Bedford actually, near work and an affordable price, plus easy access of St Marys
(the £2 return waterloo to southampton central hopefully will never stop along with all night trains bedford to brighton)Completing and them moving straight out the place, how does that one work?
Haha! Bedford actually, near work and an affordable price, plus easy access of St Marys
Completing and them moving straight out the place, how does that one work?
Had an ex from Bedford! £2 Waterloo to Southampton return? Are you kidding?? It's more than that from me to get from Waterloo to Brentford!
I bought the place with a mate 5 years back, 50:50, and now have bought out his stake with my girlfriend. What a luck lady she is, I'm taking on a load of debt just so she can get her hands on the deeds
We're whacking a load into renovating the place, so moved to the other side of London for a couple of months... but still having to commute east as my new office is in Bethnal Green Nice one!
The relief you feel once its over is amazing, but the stress is soon replaced with decorating and moving woes!
Where do you stand legally if you agree somethings in the fixtures and fittings list, but you decide you want to keep it and will replace for similar or it breaks before you complete?
For instance, say you done the deal but then it takes 6 months to exchange and a further month to complete. You have a tv thats included, it breaks and you replace with another tv? its not the same tv, the replacement tv isnt brand new but its still a tv. Would you leave yourself open there?
For instance, say you done the deal but then it takes 6 months to exchange and a further month to complete. You have a tv thats included, it breaks and you replace with another tv? its not the same tv, the replacement tv isnt brand new but its still a tv. Would you leave yourself open there?