FTB Timeline diary

Tia_24

Congrats JellyIcecream, what a relief it must be for you!

bulktrans

Hi there, We are FTB (scotland) saw a nice house that was on the market since last year before 1st dec 2008 and hence no home report. Everything looked okay (some decoration, front lawn grill repair, rooms cupboard repais) but we are not sure of the baiscs of the hosue like structure in general, boiler, electrics etc. I am not sure how to procceed further.

I guess if we have to get a home report it will cost around £250. Now my question is can this be covered by the mortgage lender? or will we have to shell out another 250-300 again when the mortagage lender does the survey.

How does thr process work - if the owner and we agree on a price then do we have to get a home report or can we wait till the bank gets the survey done?

thnx

Bufger

Welcome to the thread bulktrans,

Im not too familiar with how it works in Scotland but i do believe its common practice to get a survey done before making an offer. Im not sure if this is still the case if you will be the only person putting an offer in.

You would want a homebuyers report at roughly £400. If its older than 70 years old and has a few quirky features you may want a full structural at around £900.

Just ask yourself, if its been on the market for so long what is the reason? it could be price, location, presentation, structure. Try to find out if its already had a survey done on it in the last year. Chances are if it has someone has picked up on something bad enough to not offer.

VKay

Hooray- we exchanged today! Need more boxes...

newbi

Hi all.

I am a FTB and thought I would post my story as I am getting excited all on my own!

Saw property Friday 23rd Oct.
Offered on Sat 24th Oct - it was accepted
Mortage - went and saw broker same day even though it was a saturday and sorted mortgage
Surver done: 2nd Nov.

So about 10 days in I am - and feel like it needs to speed up!

bararah

We are now waiting for reports off solicitor before exchange etc, they were meant to be done last week but weren't. Another wasted week, 10weeks since offer accepted. Get a move on!!! House need work on it so not sure we'll be in by christmas now :0(

Bufger

sorry to hear that bararah. It always seems to be solicitors that hold the process up! keep pestering them and they will make your work more of a priority to get rid of you. Its the only tactic that seems to work!

Welcome to the thread newbi. Thats really exciting and very quick so far! Dont expect the later part of the process to be so quick, the bits you can sort out yourself are often faster than the bits you're waiting on others for. Make sure you're pro-active and keep chasing people up (but dont annoy your vendors!) and it should keep moving at a reasonable pace.

I need to ring my solicitor again today, shes so bloody slow!

Tia_24

Congrat VKay, really pleased for you (and really jealous too!)

We're still waiting for our survey which was done last Tues, today is the 5th working day since it was done so technically it had to come through today (they have up to 5 days to send the report out to you) but when I chased them yesterday they hadn't even finished typing it up! So frustrating as everything else is done or nearly done, mortgage offer come through, draft contract from sellers sols come through, searches done etc! I must learn to be more patient!

morg_monster

Hey, thought i'd add our timelines...

27 Sept: viewed house (3 bed 1930s semi), completely loved it

29 Sept: called EA to arrange 2nd viewing, told house had sold. Gutted.

6 Oct: 5pm EA calls to say sale fell through, do we want to come look? We race round from work and look round again, with vendor there. We offer the same as the sale that fell through and it's accepted

12 Oct: Full mortgage application in branch, we're using the Lloyds Lend a hand mortgage. Everything is still the same as AIP so didn't take long.

22 Oct: valuation/homebuyers survey done.

27 Oct: Mortgage advisor rings to ask for a letter for OH on headed work paper. Tells us the valuation on the house was fine.

28 Oct: Survey report emailed to us. We had a bit of a panic about all the condition 3's but soon realise that most are just "inspect this, check that". It's an old house and there are no "hidden defects". Decide we most likely won't try to renegotiate.

2 Nov: Final mortgage offer sent out. We've arranged a builder to come see the house on Thursday 5th and quote for some repairs. We'll be measuring up for furniture then too and have some other queries too for the vendors.

Hopefully.....
13 Nov - Exchange & give month's notice on our rented flat
1 Dec - complete
(new carpet, bit of painting, buying some furniture!)
14 Dec - move out of flat

Our solicitor hasn't been massively proactive in communicating but whenever I call or email her she is very responsive so I'm fairly happy that everything is happening as it should be. Can't wait to be in!!

Bufger

Updated, i should be exchanging this time next week!

Welcome to the thread and thanks for posting your timeline morg, keep us updated.