The nervous wait to exchange....

HungryHippos · 11 Oct 2022 at 12:55

I'd go nicer area bigger home £380K (or under if you can) if that won't stretch you should mortgage rates remain high.

R.O.S.S.I · 11 Oct 2022 at 12:59

HungryHippos said:
I'd go nicer area bigger home £380K (or under if you can) if that won't stretch you should mortgage rates remain high.

We're just running the numbers again to be sure but looks like we would be comfortable with what the mortgage payments would be. One would hope in 5 years things have somewhat normalised.

HungryHippos · 11 Oct 2022 at 13:01

R.O.S.S.I said:
We're just running the numbers again to be sure but looks like we would be comfortable with what the mortgage payments would be. One would hope in 5 years things have somewhat normalised.

Hope for the best, but plan for the worst

jonneymendoza · 11 Oct 2022 at 14:47

Got the report on title now!

Now to read over 40+ pages before signing my life away lol

Nearly there!!!

Hilly · 11 Oct 2022 at 15:42

conflicted; Went to see a place (Barn Conversion, Semi); which was immaculate inside. Only issue is that to access the garden you have to cross the drive and go up some steps (not a huge issue, but I'm not sure the gf is keen).

muttclugg · 11 Oct 2022 at 19:58

Has anyone been through the process in recent weeks/months where a mortgage has expired for someone in the chain so they have to exchange and complete within the grace period (14 days in this case)? We're facing this at the moment with the bottom of our chain and it means we're likely to exchange on the 20/10 and complete on the 21/10 at best, more likely do both on the 21/10. Bit of a headache to say the least.

R.O.S.S.I · 12 Oct 2022 at 08:59

Went to see the bigger home yesterday afternoon and it is lovely inside, in a quiet street and requires next to no work if we got it (bar some garden tidying, but thats fine).

Apparently the vendors took an offer of asking price for it last time and that was the sale that fell through. She said the vendors have a house lined up and are half way down the process of buying it so need someone to act fast, she said you can try offering a bit lower as you can always go up but cant go down! I'm inclined to start my offer at £270,000 and see how we go.

Estate Agent also said out of the 6 viewing yesterday, 5 of us were no chain so in pretty similar positions. Just going to have to try and impress on them that we've got everything lined up, AIPs, deposits and hope we can snag it for not much more than asking.

I hate this part of the process.

koolpc · 12 Oct 2022 at 09:19

R.O.S.S.I said:
Went to see the bigger home yesterday afternoon and it is lovely inside, in a quiet street and requires next to no work if we got it (bar some garden tidying, but thats fine).

Apparently the vendors took an offer of asking price for it last time and that was the sale that fell through. She said the vendors have a house lined up and are half way down the process of buying it so need someone to act fast, she said you can try offering a bit lower as you can always go up but cant go down! I'm inclined to start my offer at £270,000 and see how we go.

Estate Agent also said out of the 6 viewing yesterday, 5 of us were no chain so in pretty similar positions. Just going to have to try and impress on them that we've got everything lined up, AIPs, deposits and hope we can snag it for not much more than asking.

I hate this part of the process.

Good luck...

Hagar · 12 Oct 2022 at 11:08

Has anyone offered on a house without a viewing? I'm thinking along those lines at the moment, firm telephone bid at asking price.

muttclugg · 12 Oct 2022 at 14:50

Just been confirmed that we're doing a simulatenous exchange and completion next Friday. Exciting but also nervous about the extra pressure we're now facing. Has anyone else done both on the same day? Positive stories only please

b0rn2sk8 · 12 Oct 2022 at 17:14

Just crack on, it isn’t worth worrying about.

Easier said than done but in reality the solicitors should be sorting it all out and there isn’t actually anything different for you to do other than verbally confirm you want to go ahead with the exchange before they actually do it. You still end up waiting by the phone for them to confirm it’s all gone through.

Peerzy · 12 Oct 2022 at 19:04

muttclugg said:
Just been confirmed that we're doing a simulatenous exchange and completion next Friday. Exciting but also nervous about the extra pressure we're now facing. Has anyone else done both on the same day? Positive stories only please

Did this when we moved into our first house. Wasn't an issue as we had a rental, added a bit of stress on the morning, few extra phone calls but apart from that all was fine.

I'm not sure it would be quite so fun if we were selling at the same time, as we had the flat we had a few things packed in boxes and I took the bed apart but apart from that we'd planned to move all our bits in over the following weekend. Had we been selling we would have needed to have all our stuff in the van without the guarantee that we'd have anywhere to unload it that night.

dlockers · 12 Oct 2022 at 19:09

muttclugg said:
Just been confirmed that we're doing a simulatenous exchange and completion next Friday. Exciting but also nervous about the extra pressure we're now facing. Has anyone else done both on the same day? Positive stories only please

Did it on my last place. Didn't even know there was such a thing as hanging around in between.

Russinating · 12 Oct 2022 at 19:12

My mortgage offer is just being delayed and delayed. Fortunately it doesn't matter but we applied on 26th August!

R.O.S.S.I · 12 Oct 2022 at 20:32

Well, that was easier than i expected. Offered £370k on the £380k house which was accepted first time.
Because their previous buyers fell through they have said our solicitor can use their searches which should speed things up a fair bit too I hope. I've also asked if the previous buyer had done a survey on the house too.
Going to finalise our mortgage application tomorrow.
Fingers crossed theres no hiccups!

HungryHippos · 13 Oct 2022 at 08:05

Your mortgage lender will likely want their own survey done, even if another has been done by someone else.

You can re-use the searches though.

happy_2008 · 13 Oct 2022 at 08:22

Hagar said:
Has anyone offered on a house without a viewing? I'm thinking along those lines at the moment, firm telephone bid at asking price.

Biggest purchase of your life and you wouldn't even bother viewing? Personally i would view as pictures never tell a good picture and you can also use it during negotiations.

happy_2008 · 13 Oct 2022 at 08:28

muttclugg said:
Just been confirmed that we're doing a simulatenous exchange and completion next Friday. Exciting but also nervous about the extra pressure we're now facing. Has anyone else done both on the same day? Positive stories only please

Worst part is trying to find a removals that is available. After covid, removals were fully booked but luckily i managed to book 2 weeks in advance and they had a cancellation on the day i requested.

Scam · 13 Oct 2022 at 09:17

happy_2008 said:
Biggest purchase of your life and you wouldn't even bother viewing? Personally i would view as pictures never tell a good picture and you can also use it during negotiations.

Yeah agreed. Even if you had to jump on a plane (lol) and get there and back in one day it’d be worth the expense!

dlockers · 13 Oct 2022 at 09:22

You guys........you don't "commit" to buy just by putting in an offer and getting it accepted. He can put an offer in, and then view at his leisure, and then change his mind.

Odds are the estate agent won't allow a telephone bid unless you are well known to them.