The FTB club

dottiepeas

Nementai- Sorry to hear you're going through all that!! (Esp with your wedding in afew months away!!) Do you think you can negotiate a large amount off your offer price to take this work into account? The vendor might be more reasonable about it than you think?...as this extra work will be an issue for any other buyer?
Or, maybe the vendor can get it sorted before hand?....

Maybe this house wasn't meant to be!?..there will be more and better ones that will come up!! I know it's hard to walk away you had your heart set on this one house! But should it not go through, there will be more houses crop up at some point!.. If you are not in a rush to move, you can take your time to find somewhere after your wedding?...(or did you want to buy a place ready to move in once you're married?)

If you really wanted this house, I think I would firstly negotiate a bigger reduction in the house price to take the work into account, (without the need for a loan)....or get the vendor to sort these things out beforehand. I'm sure there would be room for negotiation!.....

Hope you're okay! All is not quite lost!!?...Chin up and all that!!

SelenaLouise

Great news, so my offer was accepted on Property B so Im really pleased! Just have to exhange solicitor's and arrange the survey I think.

Can anyone who has been through this let me know what happens next??

dottiepeas

Congrats Selenalouise!:T Well done on getting the offer accepted!! First hurdle over!...Just the rest to tackle!! heeehee! Hopefully yours will be plain sailing all the way! I'm only a step ahead of you think!?....We had our offer accepted, and were then told to arrange a survey, get the mortgage applied for and find solicitors!

Not sure about your EA, but ours were still marketing our house until the survey was booked. (which we were very worried about incase of gazumping!!)....but they did stick to their word, and the house is no longer being marketed once we got the survey booked up.

Get lots of quotes for your conveyancing fees- there are SO many companies out there offering so many different quotes and you can get some lower cost firms out there!..(usually done online) We ended up with a local firm, as their fees were the same as those online cheaper companies, and at least we know they are only in town if we needed to visit their offices.

We are now in the process of getting the mortgage approved....Reeeally worried about this, as I've read in various places, that not very many mortgages are getting approved in the current climate! But good luck with yours!!....keep us posted on things though!...:rotfl:

SelenaLouise

Thanks Dottie
Good luck to you too. I'm so happy!!:j

I'm really quite worried now though....

I am really scared about being gazumped I suppose I need to speak to them about cancelling viweings and see when they'll stop marketing the property. I presume it will be at the same point as yours.

I have a solicitor so have budgeted for their costs and I have an Agereement in Principle from mortgage provider but dont know if they'll need anything else. Should find out tomorrow I hope......

Xinpei

Hi Selena, Congrats on ur accepted offer! I agree with dottie - try the local solicitors as they can be very reasonable in their price. I went with one near our workplace so we can pop in during lunch times to sign papers and they have been very good with keeping to schedules and stuff. Initially was going to go with the solicitor the mortgage broker recommended - Countrywide property lawyers but they were asking for £1600 in total whilst I was getting £600-£700 quotes from local solicitors!

I suggest you start looking at insurance too. Definitely sort out your buildings and contents first because the mortgage lender will need to see a copy of that policy before releasing the funds to your solicitor.

SelenaLouise

Xinpei - you and Dottiepeas are a fountain of knowledge.

I am lucky because the house is part of a development which has a management company so buildings insurance is included in the service charge currently £250 per year. Unsure know how this will affect the mortgage lender though……..
Don’t know how much I will need to cover contents for so I think I might sort that out when I move in.

I have a solicitor in place and I have a quote of £850 for everything. But I may just take your advice and source one near the office. I work in the city centre so there should be plenty around here. Good thinking batman!!

EA just called to exchange Solicitor’s details; I’d better get a move on!

dottiepeas

This might not be good time to be thinking this!...BUT!....

Do you think we should wait for house prices to drop even further before buying!? I've been completely confused/getting cold feet from reading on another forum about house prices, saying that I'm basically a fool for buying now!!...as the prices have only started to drop since last year, and they (these poeple on this forum) say it will take a couple more years to drop further!...and tell me to wait until NEXT year to buy!!?

You know we've have had our offer accepted!...but it's only at the initial stages!....but do you think waiting for another year would be better!?....Part of me feels that I should wait....and then part of me wants a house now!!....so I just don't know!...the house we offered on, is a normal semi-detached, so more of these will crop up again at some point I'm sure?.....maybe I've got too much time on my hands to get these doubts about buying now!!!........

SelenaLouise

Dottie I suppose it all depends on your situation. I have wanted to get my own place for years now and am in a position to do that. I want this to happen as soon as possible.

I dont really think too much about what other people say because if you watch the new one expert will predict house prices will go lower this year and another expert will say that it wont get better until 2010.

Depends on whos judgement you trust the most I guess. Try not to stress too much about it though

dottiepeas

Thanks Selenalouise!- Think I was just having a moment of panic, and really I shouldn't listen to all the discussions about falling house prices....like you say, what 1 person says, is different to another's on the subject!... I guess if it's the right time to buy for us personally, then it's not going to make a huge difference 6, or 12 mths down the line. We're also not buying the house to profit from it....as it's going to be our family home, so I think it will be fine!!:cheesy: Thanks for listening anyway!.....really, I think I have got too much time on my hands, thinking about all things house-related!! Heehee!

Well, next step is mortgage approval for me!..(or not!)....will keep you posted on things!!:rotfl:

SelenaLouise

Just wondering what documentation do I need to be signing with the solicitor? How often will this be. I already have a solicitor but just wanted to see if I could get a better quote.

I have just got a good quote from another based in a different city for £540. The quote says it includes all postage fees I presume because they will be positing documents to me to be signed.

Would it just be best to go round the corner in order to speed things up? Don’t really know what happens from this point……