Sold House - What next

4Chickens

Finally sold the house. Got viewings booked from now until Saturday. Questions and thoughts.

Our buyer is FTB.
We have a transferable mortgage but need to complete new application, paperwork should be here tomorrow.
How long roughly before we move, assuming we put in an offer on a house on Monday next week.
Should I start packing yet? (only joking, I think:rolleyes:)

Its been a while since I bought or sold a house, times have changed. Are there any tips or warnings you can give me.

Robert_Sterling_3

It might take a lot longer than you think it will.

pawpurrs

Pray and hope it makes it through to completion?
Be as efficent as you can be to not hold up the sale, by completing all your forms quickly and keeping abreast of progress via the soliceter and EA.

Richard_Webster

You need to check the chain above you. Will there be a chain? Why are the people selling that you wish to buy from? Delays on their part could make a big difference to the typical 8-10 week period.

4Chickens

Cheers for the replies

I have 7 house viewings tomorrow and possibly 2 more later in the week, so at the moment I don't know what the upward chain is like. I will check to see if any of the ones I am looking at are 'no upward chain'

Just looked at houses on rightmove that I am going to view and none of them say 'no upward chain'. So it is a case of how long is a piece of string.

4Chickens

Richard Webster

What are your experiences of sales not making it to completion? Can you outline some of the pitfalls for me?

gordano_2

As a buyer with nothing to sell my advice would be to use your buying power to advantage ... first check local sold prices here http://www.hometrack.co.uk/ ... work out what prices properties have actually sold for recently in the area, then put in an offer below this. don't listen to estate agents saying ... "this is a great deal" ... check for yourself. You can also try one of the the discount property sourcers such as http://www.simple2buy.co.uk/ .. problem with them though is they will not have a list of properties covering all areas, but they do get great discounts.

pawpurrs

I am not Richard, but I can answer that question for you.

Some main reasons include.

1) Buyer unable to raise finance
2) Mortgage provider putting a retention on mortgage funds
3) Buyer changing their minds
4) Adverse survey
5) Buyer thinking the survey is bad when it isnt! :rolleyes:
6) Buyer trying to renegotiate price, and the seller not agreeing.
7) Buyer loses their job/dies/splits with partner
8) Buyer taking too long, and seller giving up on them or vice versa, or even a poor soliceter
9) Chain collapses
10) lack of communication.......
Just a few reasons!