The nervous wait to exchange....
- Thread starter noj
- Start date
We sold our house in March 2023 within a week of being listed, our buyer pulled out just as exchanging contract dates was being branded about, they found somewhere bigger (beats me why people still look when they are moving ahead with a purchase).
We relisted the house and it sold in two weeks, this was now July and we had accepted £5k less than the previous buyer had offered but the sellers of the house we were wanting were understanding and willing to wait and we didn't want to lose it.
Twelve weeks in, we told our buyers to do one as they still didn't have a mortgage offer, they had one but were not happy with the rates so kept trying different brokers. In all honesty, we should have told them a lot sooner, but we were being fobbed off and our rush to sell dropped off when the sellers of the house we were after had a change of heart as they had lost the one they were going for, so we were once again searching for a new home.
By now house prices were falling but we remained on the market and sold again, this time in three weeks and £10k less than what we were offered in March. We are all at the exchange of contract stage this week, and the kick in the teeth was a water survey report on the house we are buying, their septic tank needs £13k of work.
We've obviously gone back and said knock the cost of repairs off the purchase price and we will get the repairs done after we move in, they want to get a few more quotes before deciding what reduction they would accept but the two below us in the chain are getting very twitchy.
It has been a very disheartening experience so far, looking at right move again, there are very few new listings happening.
We relisted the house and it sold in two weeks, this was now July and we had accepted £5k less than the previous buyer had offered but the sellers of the house we were wanting were understanding and willing to wait and we didn't want to lose it.
Twelve weeks in, we told our buyers to do one as they still didn't have a mortgage offer, they had one but were not happy with the rates so kept trying different brokers. In all honesty, we should have told them a lot sooner, but we were being fobbed off and our rush to sell dropped off when the sellers of the house we were after had a change of heart as they had lost the one they were going for, so we were once again searching for a new home.
By now house prices were falling but we remained on the market and sold again, this time in three weeks and £10k less than what we were offered in March. We are all at the exchange of contract stage this week, and the kick in the teeth was a water survey report on the house we are buying, their septic tank needs £13k of work.
We've obviously gone back and said knock the cost of repairs off the purchase price and we will get the repairs done after we move in, they want to get a few more quotes before deciding what reduction they would accept but the two below us in the chain are getting very twitchy.
It has been a very disheartening experience so far, looking at right move again, there are very few new listings happening.
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Soldato
Not that cheap but running your own business its almost insignificant when you compare it to say being one staff member it suddenly doesn’t sound so bad
Soldato
Yeah I know Norton well, beautiful place. Well done!
Or that taste is unique and doesn't have anything to do with money?
Soldato
Exchanged just before Christmas, and got our completion statement through this afternoon - completion date is this Friday!
Taken about 3 months from sale and purchase, to get here - and the last week or so has been a mad pack-fest, and general de-clutter/selling bits off.
Having to use a removal company this time, as we are moving from North Wilts down to the middle of Dorset (or thereabouts), so I won't be able to hire a van and do multiple moves.
My god though - there's 3 of us in a 4 bed, and even through my efforts earlier in 2023 to de-clutter, it seems we have more stuff than ever! Think the movers provided us 80 boxes, and we're down to under 20 left, and I still feel as if there's 30-40% house to pack!
Looking forward to closing the front door in the new place, knowing it's all sorted now!
Taken about 3 months from sale and purchase, to get here - and the last week or so has been a mad pack-fest, and general de-clutter/selling bits off.
Having to use a removal company this time, as we are moving from North Wilts down to the middle of Dorset (or thereabouts), so I won't be able to hire a van and do multiple moves.
My god though - there's 3 of us in a 4 bed, and even through my efforts earlier in 2023 to de-clutter, it seems we have more stuff than ever! Think the movers provided us 80 boxes, and we're down to under 20 left, and I still feel as if there's 30-40% house to pack!
Looking forward to closing the front door in the new place, knowing it's all sorted now!
I know that feeling lol.
I used to rent a room in a house share just before moving into my current 3 bedroom home.
My "guest" bedroom is currently filled to the brim with stuff/boxes lol. No idea if these boxes just reproduce spontaneously
It will amaze you how much you accumulate but then moving gives you pause for thought.
You forget about most of the stuff you own. So what utility does it have? And will you need it later?
If you are brutal about it, you’ll find lots being given away or sold.
Soldato
Oh without a doubt - I got rid of loads of stuff, especially if it hasn't been used in 6-12 months. Sadly Mrs Scort likes to hold onto things.... "just in case" 
Soldato
We moved into a 4 bedroom detached house 5 1/2 years ago as just the two of us. Whilst it was being built we found out we were expecting. Fastforward to now and we've sold our house to that we can move into a Villa style house nearer to town in a lovely area. Lots of work to do at the new property but quite exciting. Offer accepted on the new house this week so its all go and the mortgage is just porting over so I'm hoping that's a little easier than setting up a new one. I'm about to move to self employed so I believe a new mortgage application in the next few months would have been difficult so now was the time to pull the trigger so to speak. The chain isn't too long luckily. First time buyers are well on with buying the house from those who are buying our house. They have been renting as they have moved up north. The house we are moving into is empty too so realistically its only us that could cause any issues.
We said when we moved into our current house it would be our "forever home" as the wife put it so to be moving so quickly seems a little strange. She's a surveyor and loves old houses and a sucker for a project. The upside of the new house is massive and luckily we have contacts galore to get things done at reasonable prices.
Watch this space as I think I thread might cometh should the sale go through smoothly.
From this (We added the garage and turned the old garage into the room on the right.
To the below 4 floors including basement. The garage runs length of the house too. Square footage of the two houses is almost identical not including the basement. Garage is slightly smaller but we are getting rid of the car that lays dormant in there currently anyways.
We said when we moved into our current house it would be our "forever home" as the wife put it so to be moving so quickly seems a little strange. She's a surveyor and loves old houses and a sucker for a project. The upside of the new house is massive and luckily we have contacts galore to get things done at reasonable prices.
Watch this space as I think I thread might cometh should the sale go through smoothly.
From this (We added the garage and turned the old garage into the room on the right.
To the below 4 floors including basement. The garage runs length of the house too. Square footage of the two houses is almost identical not including the basement. Garage is slightly smaller but we are getting rid of the car that lays dormant in there currently anyways.
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Soldato
Mega! Quite the change! Hats off for giving up the easy life
One of the smaller reasons is the quality of our current house. The amount of little things that are starting to break is annoying. We have never done anything easy it seems so whilst we still have the energy we thought why not.
Permabanned
whats that a 1920's house ? will last another 100 yrs if ya treat it right big thick walls by the look of it .. only thing that bothers me is that attic window ....lolWe moved into a 4 bedroom detached house 5 1/2 years ago as just the two of us. Whilst it was being built we found out we were expecting. Fastforward to now and we've sold our house to that we can move into a Villa style house nearer to town in a lovely area. Lots of work to do at the new property but quite exciting. Offer accepted on the new house this week so its all go and the mortgage is just porting over so I'm hoping that's a little easier than setting up a new one. I'm about to move to self employed so I believe a new mortgage application in the next few months would have been difficult so now was the time to pull the trigger so to speak. The chain isn't too long luckily. First time buyers are well on with buying the house from those who are buying our house. They have been renting as they have moved up north. The house we are moving into is empty too so realistically its only us that could cause any issues.
We said when we moved into our current house it would be our "forever home" as the wife put it so to be moving so quickly seems a little strange. She's a surveyor and loves old houses and a sucker for a project. The upside of the new house is massive and luckily we have contacts galore to get things done at reasonable prices.
Watch this space as I think I thread might cometh should the sale go through smoothly.
From this (We added the garage and turned the old garage into the room on the right.
To the below 4 floors including basement. The garage runs length of the house too. Square footage of the two houses is almost identical not including the basement. Garage is slightly smaller but we are getting rid of the car that lays dormant in there currently anyways.
Soldato
It was built in 1888 but plenty more years left in it. I'd be surprised if the new build we are in will fall before I do. The attic window I thought looked a bit odd but it's actually about the best bit of glazing on the house. Everything else will be replaced.whats that a 1920's house ? will last another 100 yrs if ya treat it right big thick walls by the look of it .. only thing that bothers me is that attic window ....lol
Associate
Love the character of that house MR_Punk. Congrats
Soldato
Thanks @DeibuLove the character of that house MR_Punk. Congrats
We have another visit planned for Friday to do some proper measuring as we want to hit the ground running. Priorities are getting the garage shutter door fixed, the Kitchen redone and the little lads bedroom decorating so he has a "base". We were told yesterday that everything has gone really smoothly and are even pencilling in W/C 26th Feb for completion which seems a mentally short turnaround. They said because the buyers of our house essentially broke their chain by moving out that there's is going to be done in a couple of weeks at the latest which means its just our end and as its a mortgage port things should be relatively straight forward. I still feel that date is a little hopeful and I think it'll be more towards the end of March.
Associate
Fingers crossed it goes ahead as soon as possible for you.
Have a completion date myself now of the 22nd this month after having my offer accepted early September. No chain on either side so was hoping before Xmas but think the sellers solicitor was rather slow with a few things but almost there.
Soldato
Yeah that's the problem sometimes it can be super fast but sometimes one slow link somewhere slows the hole process down. The first hour I bought from offer to moving in was less than 4 weeks.
Exchanged on this and complete in a few weeks. A much younger house than our current one despite it being built in 1890 
I have a daft question that my solicitor will no doubt answer when the time comes shortly, but this is the first time I need to add a significant amount of cash upon completion. Previously I've always traded up with a mortgage being extended for what is required and little money has had to move from my bank accounts. But this time it's quite substantial (beyond any internet banking limits). How does one actually go about moving that much money and how far in advance of completion date is it best to set the wheels in motion? Last time I remember doing something similar was in the 90s with bankers drafts. I assume the world has moved on.
I have a daft question that my solicitor will no doubt answer when the time comes shortly, but this is the first time I need to add a significant amount of cash upon completion. Previously I've always traded up with a mortgage being extended for what is required and little money has had to move from my bank accounts. But this time it's quite substantial (beyond any internet banking limits). How does one actually go about moving that much money and how far in advance of completion date is it best to set the wheels in motion? Last time I remember doing something similar was in the 90s with bankers drafts. I assume the world has moved on.