Sold and offer accepted - what now?

Red_Elle

I have sold my house and have put in an offer on another property that has been accepted - all good so far :T

It's 6 yrs since I last bought a house and I was a FTB then, so need to get some idea of timescales, who to chase etc from now onwards. Situation is as follows:

Got a FTB for my property. He offered and had a survey done on a previous house and then his seller pulled out, so he lost money and time. Hence he seems like a good solid buyer. His GF is heavily pregnant too, so I doubt they want to traipse around any more houses, so hopefully nothing to worry from him.
His mortgage is being arranged by the EA's firm. They use 3 solicitors in our city, all good ones.

The house I am buying is through the same EA that mine is being sold through. I have also decided to use their solicitors (different one to my buyer). I am using a broker for my mortgage.

My broker has called me tonight and needs me to fax over ID and utility bill and is processing the mortgage as we speak. It is through Abbey. He said they usually sort out surveys within a few days.

I called the EA today and asked what I need to be doing. He told me to sit back and relax and that he will liaise with my broker and the solicitors and ensure that we complete within 4 weeks. (I specifically said it needs to be 4 weeks, as I have work committments after this time and cannot take time off). My broker told me tonight that he has indeed been in touch, so he seems reliable

What I would like to know, from those of you who have more experience in these matters, is should I be doing anything else to make sure the process goes smoothly or can I literally relax, but pray that nothing goes wrong?

When do I need to sort out removals? How much notice do they need? When do I need to cancel things like Sky/NTL?

I feel a lot less stressed now that we have gotten to this point, but I am still panicky over what I need to be doing and what should be sorted out.

Thanks

robwend

hi luv and congrats, regarding the comment that EA said sit back and relax he will do it all personly id take that with a bucket of salt, dont leave it up to them to chase up<not sayin they wont>but its not worth the risk, as for cancelling services, do not do untill you have exchanged, as untill then its a shark infested water lol

The_Geek

called the EA today and asked what I need to be doing. He told me to sit back and relax and that he will liaise with my broker and the solicitors and ensure that we complete within 4 weeks.

4 weeks is optimistic in my mind but it is possible if everyone is on the ball and there are no delays. All it needs is for something like the searches to be delayed and it could throw the whole timetable out. is there any upward chain or is it just you and your FTB's?

What I would like to know, from those of you who have more experience in these matters, is should I be doing anything else to make sure the process goes smoothly or can I literally relax, but pray that nothing goes wrong?

The biggest worry in my opinion is the survey. I'd relax once your FTB's have had it done and haven't got any major problems.

When do I need to sort out removals? How much notice do they need?

Just about to move myself. I got firms to give me prices about a month out to make sure they have availability. Make sure you check prices inc. VAT or not and if there are any cancellation charges. Some charge, some don't.

When do I need to cancel things like Sky/NTL?

I think they need 30 days notice. Check to see if you can cancel the cancellation if you get what I mean. Telewest and BT both said I could just call and they would extend the date if I needed to.

Red_Elle

Thanks

I just thought the EA would be much more likely to get things through quickly as my house and the one I am buying is through them. If it gets delayed - I have implied that the offer is on the basis that it goes through in 4 weeks - they will worry that they could lose commision on two houses?

Red_Elle

Thanks.

Yes it's just us and the FTB - no upward chain. They don't live in the house, have been renting it out and now are selling.

So tomorrow I will call EA and find out if the FTB's mortgage application has started go through and surveys are about to happen.

suki1964

"sit back and relax" Famous last words

Abbey are good at getting surveys done so you should hear by middle of next week on that. You dont say if theres a chain above you? If there is, are they happy with four weeks to exchange? If you do have a chain above you then you will be chasing constantly. I found it best to ring my solicitor asking him where we were at, what were we waiting on and if there was anything I could chase up directly with my buyers.

As for removels start ringing round for quotes now as removel companies need to be booked ASAP to get the dates you want. SKY/NTL often want a months notice as well so give them a ring - dates can be extended if need be but they get shirty about less then a months notice. Gas and electricity can all be done the day you complete.

robwend

telewest /ntl/need 7 days notice at the worst. check on there website

robwend

hang on i take the telewest thing back ,!!!!!! i min trouble im completing on the 10th april!! lol id better ring em:D

robwend

god your gonna think im nuts!! checked back of my bill, its says 5 working days so in the clear!! sheesh!!!

Red_Elle

Just looked on NTL and it's in our new area, takes 14 days to transfer, so hopefully will have plenty of time to sort out.
Thanks

njc12

Hi - I work for a conveyancing firm. I agree with the previous post of not sitting back and leaving your EA to it. Four weeks is a really tight timescale and I think it will need everyone's efforts to move it along - however, if the chain is small it is possible.

Re removals - ring round now and get prices but do not book them until you have exchanged contracts (normally 5 days before you move). I know that this sounds like you are leaving things too close to moving time but your actual moving date is not guaranteed until the contracts have been exchanged.

HTH let me know if you have any more questions.


njc12