The nervous wait to exchange....

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fastwunz said:
EA doesn't get paid unless it goes through so this is a daft statement. However some are awful for very different reasons I agree. You, the buyer are paying the solicitor not the agent so perhaps you should hound them instead.
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I sort of agree - the logic should be that the EA doesn't get paid if it doesn't complete so they have motivation to get things done. However, in our recent experience our EA were more interested in getting new properties on the books than helping us with our sale. Mathematically I guess it makes sense, add ten new files on for the risk of one falling through - or that is very much how it felt to us.

As soon as we exchanged the communication from the EA dried up, calls not returned, messages not passed on, our sales "progreser" always out doing new valuations.

Our solicitors on the other hand were brilliant, they couldn't do enough to help and were always on the ball and ready to assist.
 
Having fun and games selling my house at the moment. Was on the market for 3 weeks and then finally got an offer which we liked and accepted. Another 3 weeks go by, with us being told by the buyers that everything is going OK only to then be informed that they can't get the mortgage they said they already had!

Frustrated as I'm now 3 weeks behind and could have missed a potential buyer. House is now back on the market, which means more viewings and trying to keep my two kids from messing up the place constantly.

Luckily I am moving into rented accommodation due to moving from the south coast to the north west of England, so I've not had a chain completely collapse. Just want the pain of selling a house to be over with.
 
TheKnat said:
Having fun and games selling my house at the moment. Was on the market for 3 weeks and then finally got an offer which we liked and accepted. Another 3 weeks go by, with us being told by the buyers that everything is going OK only to then be informed that they can't get the mortgage they said they already had!
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Think there are a fair few people being caught out by these new affordability checks, lenders really need to sort house on this!


Are people generally exchanging and completing on the same day? What are the benefits either way?
 
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Just in the process of buying our first house too. Viewed a place Saturday morning, and again Monday. Put in an offer below asking the same day and agreed to meet halfway. Memorandum has turned up in the post (albeit with errors - sending out a new one) and I had my mortgage agreed yesterday and paid my solicitor a deposit. Hoping to complete as soon as possible but our second child is due in a little over a month! Yikes!
 
TheKnat said:
Having fun and games selling my house at the moment. Was on the market for 3 weeks and then finally got an offer which we liked and accepted. Another 3 weeks go by, with us being told by the buyers that everything is going OK only to then be informed that they can't get the mortgage they said they already had!
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I wondered if they had an agreement in principle or whether they were just blagging it.

Our building survey was done yesterday, and I caught the surveyor half-way round. He hadn't gotten to the roof yet, but was very happy to talk through what he'd found so far, and nothing horrendous had cropped up by that point, so hopefully all should be well.

I'm STILL providing evidence to the mortgage broker for the mortgage application. I thought I'd provided everything, so paid them their fee, and since then, they've gotten back to me asking for slightly different bank statements, and a few vague descriptions of signed accounts for 2013, and when I've asked them to clarify, they're now VERY slow in getting back to me. I should've held back my payment until everything else had been 100% approved. :(
 
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In the process of buying a new build. Signed the missives and paid the developer deposit, but as it's not ready until March I don't need to secure the mortgage until the end of this year/early next year. Exciting times :).
 
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House said:
Fun isnt it, funny that the people you pay to do this dont and you have to take up the slack.
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Isn't that the truth?

Today I've had enough. Our agent called to say our buyer very close to giving birth as the baby has moved, so they've put a deadline on completion for the 2nd week of July. After that they can't move until mid-August, if that happens their buyer will drop out meaning they'll probably just knock it on the head completely.

So to keep things together we're splitting the chain in two, the family and I are moving in with the other half's family and sticking our stuff in storage until the issues further up the chain are resolved. I think our buyer owes us a beer.

On top of this I managed to sort the snagging points on our purchase today in about 3 hours, something our solicitor failed to achieve in 4 weeks.

We're exchanging on our sale today come hell or high water, but boy does it feel like a deflated victory. Still, it's progress and we're going to bloody win!
 
Do these solicitor fees seem tad high?

Total incl VAT £2086.80

Selling

Sale Price: £180,000.00
Tenure: Freehold

Costs for your Proposed Sale excl. VAT £550.00
Costs based upon First Mortgage Redemption excl. VAT (per redemption) £95.00
Electronic Identity Search excl. VAT (per name) £8.33
Bank Transfer Fee excl. VAT (per transfer) £37.50
Office Copy Entries (approx) £12.00

Total Fees excl. VAT: £ 690.83

Buying

Purchase Price: £200,000.00
Tenure: Freehold

Costs for your Proposed Purchase excl. VAT £650.00
Local, Chancel, Enviro and Water Search Pack excl. VAT £234.00
Stamp Duty Land Tax Return excl. VAT £120.00
Bank Transfer Fee excl. VAT (per transfer) £37.50
Electronic Identity Search excl. VAT (per name) £8.33
Land Registry Search & Land Charges Search Fee £12.00
Land Registry Fee £135.00

Total Fees excl. VAT: £1,049.83
 
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LiE said:
Do these solicitor fees seem tad high?

Total incl VAT £2086.80

Selling

Sale Price: £180,000.00
Tenure: Freehold

Costs for your Proposed Sale excl. VAT £550.00
Costs based upon First Mortgage Redemption excl. VAT (per redemption) £95.00
Electronic Identity Search excl. VAT (per name) £8.33
Bank Transfer Fee excl. VAT (per transfer) £37.50
Office Copy Entries (approx) £12.00

Total Fees excl. VAT: £ 690.83

Buying

Purchase Price: £200,000.00
Tenure: Freehold

Costs for your Proposed Purchase excl. VAT £650.00
Local, Chancel, Enviro and Water Search Pack excl. VAT £234.00
Stamp Duty Land Tax Return excl. VAT £120.00
Bank Transfer Fee excl. VAT (per transfer) £37.50
Electronic Identity Search excl. VAT (per name) £8.33
Land Registry Search & Land Charges Search Fee £12.00
Land Registry Fee £135.00

Total Fees excl. VAT: £1,049.83
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We paid under £2k for our sale and purchase so maybe a tad high....have you had other quotes?
 
Cant comment on the selling but Im paying £1,800 for a £425k property. Its really worth paying for a good solicitor so dont go solely off the price. Obviously you don't want to pay a premium for crap service either!
 
Thanks. Yea these guys are good, used them in the past, but it's been a while so want to check the prices. I'm just waiting for another quote to come through to compare.
 
Prices dont look too bad to me but i sold a Leasehold and I can safely say i will never touch one again, the list of charges and people taking their little bite out of you is crazy, nearly £1000 worth of charges related to the management compnay and ground rent landlords. Bloody nightmare.

Price wouldnt be how i'd pick now though, Quality no matter what the cost would overule after 5&1/2 months of hell dealing with my typing monkeys.
 
noj said:
great news well done matey!

fingers cross on the purchase for you :)
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Cheers fella, been a long time coming. Still not out of the woods yet.

Our vendor's purchase needs clarification from the land registry, which might mean a survey so I can see us moving into lodgings or digs until that's sorted. But we've sold and our actions saved the chain/sale, the thought of having to remarket actually made me feel a bit queasy!

Might be a couple of days, a fortnight or a month... at this point, dunno. :(
 
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