The nervous wait to exchange....
- Thread starter noj
- Start date
I'm encountering delays now.
Solicitor has had searches back, all ok etc and we have a draft contract. Our solicitor has requested FENSA certs for windows and something for the boiler. 2 weeks now and we're still waiting. I want to be in for the first week of december!
Solicitor has had searches back, all ok etc and we have a draft contract. Our solicitor has requested FENSA certs for windows and something for the boiler. 2 weeks now and we're still waiting. I want to be in for the first week of december!
Completed on my sale today, money in the bank but back to parents whilst my waiting for my purchase to complete. Should only be a couple weeks so its not to bad.
Such a relief to finally have it done tho, my buyers were first time buyers but absolute pita's
Accepted their offer July 15th.
Completed November 11th
Next time i think im going to try to market my house myself, or use an online estate agents.
Such a relief to finally have it done tho, my buyers were first time buyers but absolute pita's
Accepted their offer July 15th.
Completed November 11th
Next time i think im going to try to market my house myself, or use an online estate agents.
Man of Honour
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Congrats! & make sure you split the cash so it falls under the fscs limits (unless its going to be there for less than 6 months from the looks of it)
http://www.fscs.org.uk/what-we-cover/eligibility-rules/compensation-limits/deposit-limits/
Soldato
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Don't think I posted that I'd finally completed last week. Took from March to end of October with the original place we were buying falling through but we totally lucked out with the place we ended up buying.
As mentioned in the post above I don't think I'll ever use a high street estate agent again either if I move.
Just thought actually, the mortgage was ported over from what we had on the previous house so this would have been settled on completion but the mortgage company still took a direct debit payment a few days later. Am I right in thinking that the mortgage on the old property was effectively redeemed and settled upon completion?
As mentioned in the post above I don't think I'll ever use a high street estate agent again either if I move.
Just thought actually, the mortgage was ported over from what we had on the previous house so this would have been settled on completion but the mortgage company still took a direct debit payment a few days later. Am I right in thinking that the mortgage on the old property was effectively redeemed and settled upon completion?
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Thank you. I was a bit worried about the solicitor going bust, I've left 64k with the solicitor in the client account and they need 30k for exchange this week. Im supposed to be completing on my purchase on Dec 4th I wanted to take all today then send it back when they are ready but they said its better for my to take my proceeds and them to keep the deposit and the remaining balance ready for completion. I am a bit concerned about this
Fantastic house Sirrel Squirrel, congratulations!
Soldato
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Completely true, there is no reason we can't request searches the day we receive your payment on account.
However they are non-refundable and completely useless to you should the seller decide to withdraw prior to incurring the costs of their solicitor preparing the contract pack etc, which does happen!
Searches will never hold up the purchase unless there is something seriously wrong with the provider/council so it makes perfect sense to wait a week or 2 for the contract pack to arrive as all this does is save you a potential £2-300 going straight down the pan.
8 weeks from sales memorandum being issued by agents, to expect less would be foolish (not that it can't happen, just saves getting your hopes up)
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Soldato
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Well I have paid the solictors a £300 down payment on the searches. I have found out the sellers are away on holiday (cruise for 2 weeks now) does this affect the searches?
Ie. do they need access to the property to complete them? I've only gone for the basic searches, not the enhanced searches, I opted not to do them.
I also called the solictors on Monday based on a previous suggestion of being able to have the land registery done electronically for £95 and they said if they can do it electronically but sometimes its not possible but they didnnt explain why etc. Does this sound about right?
Ie. do they need access to the property to complete them? I've only gone for the basic searches, not the enhanced searches, I opted not to do them.
I also called the solictors on Monday based on a previous suggestion of being able to have the land registery done electronically for £95 and they said if they can do it electronically but sometimes its not possible but they didnnt explain why etc. Does this sound about right?
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Soldato
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Shouldn't affect the searches if the sellers have already provided their solicitor with the deeds etc. It may delay things slightly either way though as when your solicitor raises enquiries if any need to be answered by the sellers they obviously will have to wait until their return. Searches don't need access to the property though, only a surveyor would need that.
The only time cheaper land registry fees aren't possible are for first registration applications (i.e if the property you are buying is unregistered) or if you are acquiring a new lease of a property. Feel free to trust me the address and i can check whether it's registered if you'd like.
Just seen this, what searches is that £180 for? Paid to who?
The only time cheaper land registry fees aren't possible are for first registration applications (i.e if the property you are buying is unregistered) or if you are acquiring a new lease of a property. Feel free to trust me the address and i can check whether it's registered if you'd like.
Just seen this, what searches is that £180 for? Paid to who?
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Soldato
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Sorry that £180 was for the valuation fees not searches.
I will trust you the house with the property details. Thanks
I will trust you the house with the property details. Thanks
Soldato
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Ah ok.
Property is registered so assuming you're paying between £100k-£200k there should be no reason the Land Registry fee would be more than £95. It does make sense for them to quote the higher fee to start with though as a) most wont be bothered to do the check I've done and b) it's far better to give you back £95 down the line than have to ask for extra later on!
Property is registered so assuming you're paying between £100k-£200k there should be no reason the Land Registry fee would be more than £95. It does make sense for them to quote the higher fee to start with though as a) most wont be bothered to do the check I've done and b) it's far better to give you back £95 down the line than have to ask for extra later on!
Soldato
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OK, brilliant thank you very much.
Soldato
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We complete on Monday... Nervous and now starts the panic of trying to arrange all the utilities, ordering BT etc!
A whirlwind over last few days.
I tell solicitor I need to complete by 8th Dec due to tenancy coming to an end. he says feasible.
By coincidence, estate agent phones me shortly after to get update. I relay the above. He says he will check with vendors.
Estate agent comes back with shock news - the vendors want to complete 20th Nov (10 days' notice!!!) due to their mortgage offer apparently expiring. I know this is virtually impossible.
Solicitor confirms this is impossible to achieve, given I haven't received the contract yet, read his report, no idea what is included in sale, etc, etc. HSBC need 7 days notice to release funds as well.
I relay the above to estate agent, who then corrects himself in that it isn't mortage offer expiring, but the valuation survey (3 months validity apparently) and the date is 26th Nov. He asks me to check with completion of 25th Nov.
Solicitor says 25th Nov possible but no guarantees. Of course I want to avoid a re-evaluation but I am good to go if all my concerns/queries are addressed.
So from 2 months of not much happening, suddenly I could be completing in 2 weeks!!
Soldato
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House to plot size Sirrell is a bit offvery nice! How many bedroom is it?
Cheers
It's a 4 bed, really nice layout, you enter through the kitchen (nearest the cars), walk through the middle corridor which branches off to the bedrooms, then has the lounge and conservatory at the end. It's got planning permission to build on 50% of the land, the bungalow and garage probably take up around 30% so need to decide what to do with the rest, maybe a pool or huge games room
Cheers
It's got planning permission to build on 50% of the land, the bungalow and garage probably take up around 30% so need to decide what to do with the rest, maybe a pool or huge games room
Yeah looks great, the land probably makes the house look smaller than it actually is!
Shouting for a double storey though
A nice games room would be sweet, opening onto a nice basketball court for the ring to fit onto
Soldato
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I wisdh I would be in this position. I would love to be moving in around the 12th December myself, but I don't think this is feaseable now.
Soldato
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Yeah looks great, the land probably makes the house look smaller than it actually is!
Shouting for a double storey though
A nice games room would be sweet, opening onto a nice basketball court for the ring to fit onto
No can do, it's on green belt but to be honest it is plenty big enough already. Basketball court sounds good!