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  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,506Posts
    • 9,216Thanks
    happytails
    The NEW waiting to exchange thread...
    • #1
    • 27th Jul 17, 5:20 PM
    The NEW waiting to exchange thread... 27th Jul 17 at 5:20 PM
    So the other thread has gone awol so thought i'd start a new one! It was keeping me sort of sane during the house buying/selling process!

    A place to document your timelines and discuss the triumphs and woes of moving house!




    My timeline -
    Offer received and accepted on our house 17/07
    Offer made and accepted on the house we want 17/07
    Solicitors Instructed 17/07
    Meeting with mortgage advisor, all docs given 18/07
    Mortgage application submitted to Nationwide 19/07
    Documents picked up and filled in from Solicitor 19/07
    Documents and ID returned to Solcitor 20/07
    Valuation booked 20/07
    Solicitor composes draft contract & starts local searches 25/07
    Valuation carried out 26/07
    Solicitor gave us our fixtures and fittings form for purchase and requested marriage certificate 26/07
    My buyers valuation carried out 27/07
    Mortgage offer given 27/07

    Sarah

    Official MoneySavingExpert.com Insert:

    Hi all! For more help with your move read our guide:

    50+ House Buying Tips
    Last edited by MSE Andrea; 06-10-2017 at 11:50 AM.
    Sarah,

    Trying to move up the house ladder in 2017, running a business with 3 kids in tow & slowly going crazy!
    Member No43 - % Challenge
Page 36
    • Natbag
    • By Natbag 6th Oct 17, 11:59 AM
    • 1,162 Posts
    • 802 Thanks
    Natbag
    Good luck HGW2012, hope all goes well!
    mrs M - sorry to hear that, it's so frustrating when people go at a snail's pace.
    Flowerpower - yep, it certainly is.

    I'm awaiting a call from my EA to tell us our buyers' thoughts on their electrician friend's report from yesterday. He spent 3 hours checking every socket, switch and behind every appliance in the place then told them the house needs a new fuse box (I disagree) and an RCD for the bathroom lights. Sigh. We should be ready to exchange and I can feel it all going wrong again.
    • Cinders:
    • By Cinders: 6th Oct 17, 12:04 PM
    • 148 Posts
    • 803 Thanks
    Cinders:
    Hi everyone, thought I'd pop back on and say hello.....again. (I left this thread in July when our chain collapsed).

    We originally accepted an offer on our house, and had an offer accepted on another property back in March (I think). The chain was an absolute nightmare, and ended up collapsing at the end of July.

    Our buyers stuck with us, so at least we didn't have to go through the hassle of putting the property back on the market. We saw another property that is absolutely perfect for us (I believe that things happen for a reason, and this new house is far better suited to us than the last one), and had our offer accepted on it on 18th Aug. Things seem to be progressing a little more smoothly this time around, so we're hopeful that we might actually move into our new home.

    We are aiming to exchange next week on 11th, and complete on 31st. Fingers crossed that we make it this time!

    Good luck to everyone else, hope it's all going well
    SPC # 115
    • Cinders:
    • By Cinders: 6th Oct 17, 12:08 PM
    • 148 Posts
    • 803 Thanks
    Cinders:
    I'm awaiting a call from my EA to tell us our buyers' thoughts on their electrician friend's report from yesterday. He spent 3 hours checking every socket, switch and behind every appliance in the place then told them the house needs a new fuse box (I disagree) and an RCD for the bathroom lights. Sigh. We should be ready to exchange and I can feel it all going wrong again.
    Originally posted by Natbag
    It sounds as if your buyers might be trying to get a reduction in price. Hopefully it can be sorted out quickly, with minimal fuss. Were you hoping to exchange soon?
    SPC # 115
    • Surrey_EA
    • By Surrey_EA 6th Oct 17, 12:09 PM
    • 1,316 Posts
    • 1,590 Thanks
    Surrey_EA
    new fuse box (I disagree) and an RCD for the bathroom lights. Sigh. We should be ready to exchange and I can feel it all going wrong again.
    Originally posted by Natbag
    If that's all he managed to find, I'd hope your buyers wouldn't worry too much, they're not expensive jobs.

    Fingers crossed.
    • Sadie23
    • By Sadie23 6th Oct 17, 12:10 PM
    • 57 Posts
    • 102 Thanks
    Sadie23
    Completed today! Offer was accepted 25/5/17 (probate property, we're FTB), off to get the keys wahooooo!
    • toc25
    • By toc25 6th Oct 17, 12:23 PM
    • 224 Posts
    • 222 Thanks
    toc25
    Good luck Cinders, Sounds like you deserve a smooth ride this time. Fingers crossed.

    Congratulations Sadie23 very exciting

    I can't wait till Thursday. Every day seems to drag!
    • mrs M
    • By mrs M 6th Oct 17, 1:00 PM
    • 6 Posts
    • 3 Thanks
    mrs M
    @natbag - Thanks, its very frustrating - refreshing my emails every 5 mins today in the hopes of a 'you've exchanged' email! - Have to ask, I recognise your username from another forum, are you a paper-crafter?

    @cinders - hope everything goes well

    @Sadie23
    • cjmillsnun
    • By cjmillsnun 6th Oct 17, 1:03 PM
    • 355 Posts
    • 226 Thanks
    cjmillsnun
    Good luck HGW2012, hope all goes well!
    mrs M - sorry to hear that, it's so frustrating when people go at a snail's pace.
    Flowerpower - yep, it certainly is.

    I'm awaiting a call from my EA to tell us our buyers' thoughts on their electrician friend's report from yesterday. He spent 3 hours checking every socket, switch and behind every appliance in the place then told them the house needs a new fuse box (I disagree) and an RCD for the bathroom lights. Sigh. We should be ready to exchange and I can feel it all going wrong again.
    Originally posted by Natbag
    Why just an RCD for the bathroom lights. The current regs require RCDs for all fixed wiring. That said if the electrics are in good condition then they count as C3 defects (rectification advised but not necessary). These EICRs look at the current regs rather than those in force at the time of installation and therefore will invariably find defects. As someone else said if thatís all there is then it really is nothing to worry about. The most expensive thing there is the consumer unit change (which would rectify the RCD situation at the same time) which would only be £500 at absolute top whack in central London. Other areas would be a lower price.
    • juniordoc
    • By juniordoc 6th Oct 17, 2:25 PM
    • 236 Posts
    • 202 Thanks
    juniordoc
    About time I joined in properly and posted my timeline, me and my partner are FTB after 6 years of saving a deposit!
    We are buying a 2 bed flat (1900 built house recently converted into 2 flats), leasehold and it's currently vacant, we are in rented atm.
    -14/8 Offer accepted
    -16/8 Mortgage application submitted
    -17/8 Mortgage application denied - Nationwide classing as a "new build" and won't lend more than 80% LTV
    -17/8 Solicitor number 1 instructed,
    -21/8 Solicitor no 1 tells us they are representing the vendor and can't also represent us
    5 day holiday in Porto *woooo*
    -30/8 Solicitor number 2 instructed, new mortgage application submitted
    -14/9 Valuation and Homebuyer Report - some issues with shared roof, damp and under-floor ventilation
    -18/9 New mortgage offer approved
    2 entire weeks pass, still no contract documents received from vendors solicitors, apparently the delay is to due to them drafting the lease
    2/10 Our solicitor confirms contract documents received, searches applied for

    I rang our solicitor this morning and apparently she still has not had a chance to read through the contract documents and will be in touch "in due course". I'm anticipating we might need to meet her to discuss the survey results and negotiating the terms of the lease, but she is showing no signs of wanting to meet with us
    Last edited by juniordoc; 06-10-2017 at 2:29 PM.
    • Cinders:
    • By Cinders: 6th Oct 17, 2:26 PM
    • 148 Posts
    • 803 Thanks
    Cinders:
    toc25 & mrs M - thank you very much
    SPC # 115
    • Cinders:
    • By Cinders: 6th Oct 17, 2:31 PM
    • 148 Posts
    • 803 Thanks
    Cinders:
    About time I joined in properly and posted my timeline, me and my partner are FTB after 6 years of saving a deposit!
    We are buying a 2 bed flat (1900 built house recently converted into 2 flats), leasehold and it's currently vacant, we are in rented atm.
    -14/8 Offer accepted
    -16/8 Mortgage application submitted
    -17/8 Mortgage application denied - Nationwide classing as a "new build" and won't lend more than 80% LTV
    -17/8 Solicitor number 1 instructed,
    -21/8 Solicitor no 1 tells us they are representing the vendor and can't also represent us
    5 day holiday in Porto *woooo*
    -30/8 Solicitor number 2 instructed, new mortgage application submitted
    -14/9 Valuation and Homebuyer Report - some issues with shared roof, damp and under-floor ventilation
    -18/9 New mortgage offer approved
    2 entire weeks pass, still no contract documents received from vendors solicitors, apparently the delay is to due to them drafting the lease
    2/10 Our solicitor confirms contract documents received, searches applied for

    I rang our solicitor this morning and apparently she still has not had a chance to read through the contract documents and will be in touch "in due course". I'm anticipating we might need to meet her to discuss the survey results and negotiating the terms of the lease, but she is showing no signs of wanting to meet with us
    Originally posted by juniordoc
    Sounds like you've had a bit of a shaky start, but hopefully the rest will be plain sailing. How long are the searches taking in your area?
    SPC # 115
    • Natbag
    • By Natbag 6th Oct 17, 2:57 PM
    • 1,162 Posts
    • 802 Thanks
    Natbag
    It sounds as if your buyers might be trying to get a reduction in price. Hopefully it can be sorted out quickly, with minimal fuss. Were you hoping to exchange soon?
    Originally posted by Cinders:
    Yes, within the next week. We knocked £5k off after our first sale fell through and stated 'offers over'. This couple saw it at the higher price but missed out, then viewed it at the lower price and we accepted their first, lowest offer so I'd be loathed to start negotiating on price now. Got the feeling we won't have a choice if we don't want it all to fall through again
    • Natbag
    • By Natbag 6th Oct 17, 3:04 PM
    • 1,162 Posts
    • 802 Thanks
    Natbag
    Good luck Cinders, hope all goes well for you too this time.
    Surrey_EA, thanks. Apparently our EA has received the report, so they obviously have something to discuss over it otherwise they wouldn't have submitted it to them. Sigh.
    Sadie23 - congratulations! Happy new home day!
    mrs M - yes! Or at least I used to be, not so much these days though.
    cjmillsmum - thanks for the info. He said he'd put a few C2s down. I'm not happy that he's not an unbiased source though, being a friend of theirs.
    juniordoc - welcome! Hope all goes smoothly for you. The waiting is the worst!
    • juniordoc
    • By juniordoc 6th Oct 17, 3:09 PM
    • 236 Posts
    • 202 Thanks
    juniordoc
    Sounds like you've had a bit of a shaky start, but hopefully the rest will be plain sailing. How long are the searches taking in your area?
    Originally posted by Cinders:
    Thanks, I've no idea how long the searches take around here, but I'm pretty sure my solicitor will take long enough to do her stuff that the searches will be back first! She hasn't even read the contract documents to be able to raise any enquiries so I guess it could be weeks yet until we get close to exchange.
    • Scotbot
    • By Scotbot 6th Oct 17, 3:36 PM
    • 139 Posts
    • 97 Thanks
    Scotbot
    Juniordoc not sdure why you would meet with your solicitor to go through the survey. Mine came back with 8k of costs so renegotiated price via the EA. Unless you are in Scotland?
    • westv
    • By westv 6th Oct 17, 3:50 PM
    • 4,374 Posts
    • 1,996 Thanks
    westv
    6 weeks in and all we have so far is that our buyer's solicitor has raised queries and that the TR1 form has been signed by us. No news on how our buyers are getting on with their sale.
    • juniordoc
    • By juniordoc 6th Oct 17, 4:03 PM
    • 236 Posts
    • 202 Thanks
    juniordoc
    Juniordoc not sdure why you would meet with your solicitor to go through the survey. Mine came back with 8k of costs so renegotiated price via the EA. Unless you are in Scotland?
    Originally posted by Scotbot
    No we are in England, but I think we need to meet because a brand new lease is being drawn up as the property is converting from 1 freehold house to 2 leasehold flats. The owners of the house who have done the conversion have moved into the upstairs flat and plan to stay there at least a few years, and are selling downstairs to us.
    As such we will be jointly liable for certain parts of the property under the leasehold, and the survey has suggested that it needs a new roof (not right now but in the near future) and underfloor ventilation put in, potentially a new damp course.
    I may be wrong as I'm a complete newbie at this, but would have thought we would want to negotiate a clause in the lease that says any big repairs in the next couple of years should be paid for predominantly by the vendor/couple upstairs, since they have lived there 11 years and let the roof get into disrepair/neglected to tackle the damp.
    I don't see that they can reasonably expect us to move in and then equally split a decades worth of maintenance/repair. When we viewed I couldn't detect any of these issues and it all looked in good condition so I'm not keen on insisting work be done before we buy.
    Would be interested to hear any advice from anyone who knows this kind of stuff of who's been there before?
    • Jaglad111
    • By Jaglad111 6th Oct 17, 4:11 PM
    • 142 Posts
    • 203 Thanks
    Jaglad111
    End of week 5. Second viewing and measure up done.

    Had the seller's pack today with inventory and initial search results. My solicitor rang for some cash as he has now decided to do a mining survey. He had already quoted for that so guessing he forgot. Further queries submitted for warrenty on the windows and building compliance for a converted garage. Proof of rent for the lease being up to date also.

    Requested copies of my credit card statements showing zero balance. Already submitted them but looks like I'll have to send them again.

    Should be half way there but feels like we are treading water. Roll on week 6.
    • Natbag
    • By Natbag 6th Oct 17, 4:18 PM
    • 1,162 Posts
    • 802 Thanks
    Natbag
    Ok, so our buyers' electrician flagged up some C1 (urgent and critical) repairs and our EA was chasing feedback from our buyers, cue massive meltdown from me thinking we faced some expensive repairs or a price reduction, or lose our buyers. Again.
    Spoke to the EA and they've said that as well as recommending a new fuse box and RCD, it turns out it was just that the smoke alarms are over 10 years old so need replacing. The buyers have reviewed the report and are happy to do the work themselves after completion. Huge relief.
    BUT...
    It turns out our buyers haven't got their mortgage fully approved yet as the lender is still awaiting a reference. They have an appointment tomorrow to get it all done.
    We are 4 weeks in and meant to be exchanging next Friday and completing by the 20th, hopefully, and they don't even have an official mortgage offer?! WTAF?!
    So another hurdle, and a huge one at that. Terrified they won't get a mortgage now and we will be 3 months in and back at square one. Again. Except next door is up for sale now, so a sale will be even harder, and I doubt our vendor will wait for us to sell a third time. I'm normally a really positive person but this whole process has ruined me! Really had enough of it all now. I don't know whether to spend this weekend starting the packing as we have a hell of a lot to do if it does go through, or to curl up in a ball somewhere and cry.
    • pinklady21
    • By pinklady21 6th Oct 17, 4:26 PM
    • 297 Posts
    • 169 Thanks
    pinklady21
    Commiserations. With luck the mortgage offer is simply a formality - so no curling up and crying required! All the best to you, i hope it works out in the end.
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