The nervous wait to exchange....

  • Thread starter Thread starter noj
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mattyfez said:
You just have to be hard and be prepared to walk.
It's not an auction.
You need to know whether the house is over or underpriced by looking at the local market and local historical sales.
The estate agent has a vested interest in getting you to pay more as that gives them a bigger percentage of commission.

Easier said than done in a fast moving market, but don't be taken advantage of.
Shoot your shot and if they don't like it, walk away.
Lots of chancers at the moment! Be it overpriced to begin with or agents turning the screws and playing on your perceived desperation.
It's almost like a game of poker at the moment.
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Our estate agent wasnt % based was a set fee.
I'm now wondering if a % based one may have somewhat vetted the idiots we've had lol
 
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Well, it’s crunch day today. Considering there’s a recession coming up, a turbulent housing market into the winter/next year and now multiple competitors for our purchase, I suspect we’ll have our final completion date agreed this morning and will exchange later today as opposed to us pulling out and offering on another.

As some of you will know I’ve wanted to make an ultimatum for a while now being 2 months over the agreed moving date (it was originally their idea to break the chain in order to garner our higher offer and then took them 2 months to find a purchase of their own, so they can’t claim hardship at this point, nor was this weeks completion date our idea), but to have our solicitor put in writing to consider our options and then stating that if we offer on one of the other empty properties he can wrap it up quicker than this chain appears to be moving (cc’ing in the sellers EA :D), it was the perfect moment to do so. Our solicitor was furious that the sellers solicitor instructed him to prepare for exchange when in fact the end of the chain hadn’t even been contacted and were in fact not legally ready.

Edit: we’ve just had confirmation the sellers will break the chain for a Monday completion, so now we just need to exchange today.
 
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grudas said:
Looks great. Gratz.
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Thanks - were super excited, the right hand side of it from the street is a semi detached annex which as about the size of the house we live in now, so going to be very different experience to our current London living space!

Lots to do though to make it back into a single house, so I'll probably be gardening (2 separate gardens at the rear that need to be rejoined) and doing a lot of DIY for the next 12 months. Should be great once it's done though.
 
CaptainRAVE said:
Well, it’s crunch day today. Considering there’s a recession coming up, a turbulent housing market into the winter/next year and now multiple competitors for our purchase, I suspect we’ll have our final completion date agreed this morning and will exchange later today as opposed to us pulling out and offering on another.

As some of you will know I’ve wanted to make an ultimatum for a while now being 2 months over the agreed moving date (it was originally their idea to break the chain in order to garner our higher offer and then took them 2 months to find a purchase of their own, so they can’t claim hardship at this point, nor was this weeks completion date our idea), but to have our solicitor put in writing to consider our options and then stating that if we offer on one of the other empty properties he can wrap it up quicker than this chain appears to be moving (cc’ing in the sellers EA :D), it was the perfect moment to do so. Our solicitor was furious that the sellers solicitor instructed him to prepare for exchange when in fact the end of the chain hadn’t even been contacted and were in fact not legally ready.

Edit: we’ve just had confirmation the sellers will break the chain, so now we just need to exchange today.
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Good luck matey - I know what you mean about a turbulent market, with rates going up there's definitely going to pressure on house prices and borrowing. We were paranoid our chain would collapse and we'd be stuck in current house for a while longer (as though borrowing costs have already gone up, house prices haven't fallen yet and I suppose they might not fall at all) so we wouldn't have been able to move to a place that was the size we wanted on a new mortgage deal.
 
CaptainRAVE said:
Well, it’s crunch day today. Considering there’s a recession coming up, a turbulent housing market into the winter/next year and now multiple competitors for our purchase, I suspect we’ll have our final completion date agreed this morning and will exchange later today as opposed to us pulling out and offering on another.

As some of you will know I’ve wanted to make an ultimatum for a while now being 2 months over the agreed moving date (it was originally their idea to break the chain in order to garner our higher offer and then took them 2 months to find a purchase of their own, so they can’t claim hardship at this point, nor was this weeks completion date our idea), but to have our solicitor put in writing to consider our options and then stating that if we offer on one of the other empty properties he can wrap it up quicker than this chain appears to be moving (cc’ing in the sellers EA :D), it was the perfect moment to do so. Our solicitor was furious that the sellers solicitor instructed him to prepare for exchange when in fact the end of the chain hadn’t even been contacted and were in fact not legally ready.

Edit: we’ve just had confirmation the sellers will break the chain for a Monday completion, so now we just need to exchange today.
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If you want we can share mobile numbers/addresses and come and console each other/move into my shed (I've got tonnes of Whisky). I haven't forcefully accelerated any part of the buying process the last few months purely because I thought - the longer it takes, the more I know about the nose dive the market is about to take. Ce la vie - we theoretically move in tomorrow with a gigantic mortgage and double the outgoings :D
 
dLockers said:
If you want we can share mobile numbers/addresses and come and console each other/move into my shed (I've got tonnes of Whisky). I haven't forcefully accelerated any part of the buying process the last few months purely because I thought - the longer it takes, the more I know about the nose dive the market is about to take. Ce la vie - we theoretically move in tomorrow with a gigantic mortgage and double the outgoings :D
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Can i also come?
 
Has anyone read Hive's latest nonsense on moving house? Bin your hub, as it only works for the original owner? Absolute madness.

I think the introduction of 2FA has meant they were baffled on how to cope with the transition to a new homeowner, so they thought sod it and just said bin the device.
 
dLockers said:
Has anyone read Hive's latest nonsense on moving house? Bin your hub, as it only works for the original owner? Absolute madness.

I think the introduction of 2FA has meant they were baffled on how to cope with the transition to a new homeowner, so they thought sod it and just said bin the device.
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Track record of similar behaviour. I wouldn't touch them if they paid me TBH.
 
~Divine~Wind~ said:
Redrow aint a company I've heard of, must be the great north/south divide lol

Up this way they're deffo the better choice from what we've looked at

EDIT:
Aye just had a look on their site, the furthest "North" they get is harrogate/Leeds apparantly
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There's Redrow around us in Telford:

www.redrow.co.uk

Redrow Abbey Fields, Priorslee - New homes Telford

Discover a range of new homes in Priorslee now available. Book a viewing of these Telford new builds today to discover your dream property.
www.redrow.co.uk www.redrow.co.uk
 
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