The nervous wait to exchange....

  • Thread starter Thread starter noj
  • Start date Start date
Still waiting....

Turns out that the remortgage papers that the solicitors have had for 6 weeks or so, they've just got round to looking at them and spotted a mistake on them and so it's now got to go back to the valuation team as they've put 100 years down on the lease instead of 77.

Great... How long will that take?

The initial plan was to be in at the end of January, 1st week of February. Unfortunately, as of this weekend, SWMBO can't take any time of work for 6 weeks, leave at 7am and gets back at 9pm... so it's all up to me. I get to make the final decorating decisions.... Oh poop....
 
House is going on the market this weekend for £110k more than I bought it for three years ago, which is nice. Reading prices are booming at the moment and a house up our road recently sold within one day. They had an open day and got 14 offers! Purple Bricks were the agent and we are going to use them and save about £4k in fee's over the traditional agents.

Also put in an offer on a house in the country yesterday for £30k under asking and they have come back with £20k under asking, which we will accept. Lady is moving into a new build and we are hoping for a first time buyer out of London for ours (most of the buyers round here are from London apparently due to the Elizabeth Line) so am hoping for a swift move if it all pans out.
 
Got asked when we'd like to complete today! Nearly fell off my chair in shock.
Was then told they need to have 5 days between exchange and completion... *sigh*

Suggested next friday. Out solicitors went off to the sellers solicitors and haven't heard anything back, so completion on the 4th has already been pushed back to the 7th at the earliest. If we don't exchange by the 9th, then we can't until the 15th as we have things already arranged for a long weekend.

We just want to move in...

Skillmister said:
77 years left on the lease? That's gonna get exciting/expensive for you in a few years..
Click to expand...

Or at the moment. Going to 125 years. Costing around 6k
 
Last edited:
Been reading up on Help to Buy ISAs the past few days and not looking forward to having to deal with the process.

10 working day notice to receive the funds (longer than any lender) and with it being a new process I'm definitely going to want cleared funds received before exchanging which is going to **** people off because they'll most likely lose a monthly payment and thus extra bonus cash (every £50 counts for first time buyers).

Can see a lot of people kicking off about this!
 
Looks like we are going to both exchange and complete on Friday, the old guy we are buying from is in very poor health and his family want to get everything sorted quickly now in case anything bad happens and they would have to wait months for probate. A bit worrying as I've now had to put a deposit down on a removal firm, and order new white goods to arrive on Saturday (our old house has inbuilt so we are leaving them).

What I thought would be a good chain has been an absolute nightmare on the upper chain unfortunately with loads of delays now this massive rush. But all being well this time next week we'll be in!
 
PapaLazaru said:
House is going on the market this weekend for £110k more than I bought it for three years ago, which is nice. Reading prices are booming at the moment and a house up our road recently sold within one day. They had an open day and got 14 offers! Purple Bricks were the agent and we are going to use them and save about £4k in fee's over the traditional agents.

Also put in an offer on a house in the country yesterday for £30k under asking and they have come back with £20k under asking, which we will accept. Lady is moving into a new build and we are hoping for a first time buyer out of London for ours (most of the buyers round here are from London apparently due to the Elizabeth Line) so am hoping for a swift move if it all pans out.
Click to expand...

Yes the Elizabeth Line has done amazing things to prices, I live in Burnham and this is why I decided it would be a great time to upgrade houses. We've made nearly 200k on our house since 2007 and I can only see prices rising once the line is running. I work in the city so the line is going to save me about 30 minutes at least.
 
PapaLazaru said:
House is going on the market this weekend for £110k more than I bought it for three years ago, which is nice. Reading prices are booming at the moment and a house up our road recently sold within one day. They had an open day and got 14 offers! Purple Bricks were the agent and we are going to use them and save about £4k in fee's over the traditional agents.

Also put in an offer on a house in the country yesterday for £30k under asking and they have come back with £20k under asking, which we will accept. Lady is moving into a new build and we are hoping for a first time buyer out of London for ours (most of the buyers round here are from London apparently due to the Elizabeth Line) so am hoping for a swift move if it all pans out.
Click to expand...
Whereabouts are you moving to? Staying the Reading area?
We kept our flat in Reading (I think I'd be crazy to let it go given the recent market surge) and have just purchased in Wokingham (brought up there so it's a bit weird to be moving back).
 
Hopefully we'll definitely be exchanging and completing on Friday now, especially as I've sorted out things like mail forwarding, broadband, home insurance, Sky, removals and new white goods for Saturday!

I'll be mighty unimpressed if we're not in Friday night (and panicking).
 
At what point in the house buying process do people pay their conveyancer? As soon as invoiced or what?

So far I've commissioned a survey and paid her the next day.
 
We get £200 on account for searches at the outset, the rest paid either along with the purchase monies or after completion.

Sales get paid out of sale proceeds.
 
Em3bbs said:
Hopefully we'll definitely be exchanging and completing on Friday now, especially as I've sorted out things like mail forwarding, broadband, home insurance, Sky, removals and new white goods for Saturday!

I'll be mighty unimpressed if we're not in Friday night (and panicking).
Click to expand...

Good luck mate, risky move tbh! I waited until exchange of contracts before ordering stuff / broadband etc
 
Our purchase fell through. The vendors did not disclose that the extension had not been signed off by the council's building controls. I phoned the council to check on it, and it required a fair bit of work to make it pass. The vendors were not willing to do it. Furthermore, their solicitors said "It is unfortunate your clients went to the council..." - erm, well I think it's unfortunate you have an underhand solicitor! They were trying to push us to accept the property on indemnity insurance but it would not be covered.

Even offered a further discount on the price - but they wouldn't accept a conditional exchange, on the condition that they sort out the council paperwork / sign off before officially exchanging.

This sucks as we were hoping to beat the stamp duty rises. So we'll either have to aim for a cheaper property, or just accept that our deposit will become smaller owing to have to pay the hike in SD.

We want to rent our flat which has no mortgage, and not willing to sell it. So it's too bad, we'll just have to cough up the cash. When you're already looking at a 5 figure number, and then it basically doubles it is hard to swallow :(
 
You must log in or register to reply here.
Back
Top Bottom