Anyone want to be my house-buying buddy?

livalicious

Yes, bummer indeed!

Been on the phone most of the day (meant to be working, boss not in though, phew!) with the EA, Vendor, solicitors, etc. And the EA suggested perhaps us exchanging tomorrow and completing the 21st, and as the vendor will only be able to complete with her purchase on the 25th, to perhaps let her stay in the property we purchasing off her, for those few days in between.

I personally have no issue letting her stay, we both have insurance on it, and we stay a fews day extra in rented where we are now. Im just worried though.... Apart from the houseburning down while they there, what else could go wrong in 4 days... Perhaps I shouldnt ask that, im opening myself up to a slating. The alternative is waiting until after the 22nd to exchange, and then completing 7 days thereafter (the vendor's lender needs 7 days notice). The vendor's ea has already intimated that she may put the property back on the market otherwise. Argh!

sharon1982

As mentioned earlier, I am still waiting for a date to exchange. We are all ready to go, mortgage offer in, searches completed, deposit ready, plus the seller is not in a chain either. The only thing outstanding is that our solicitor is still waiting on answers to queries from seller's solicitor. She chased again once our mortgage offer came in at the end of last week, and the seller's solicitor told her the seller is recovering from an accident which is why they have not got back to her.

We don't want to be pushy since she is ill, but we have no idea how badly she is injured, or what is going on - how long should I wait before asking if they can tell us a bit more? We were really hoping to exchange and complete by the budget, but now we have no idea if we will exchange this week or even this month!

Tony_R

We got the final search back today, the Water and drainage search, we are just waiting on some answeres from queries our solicitor made to the sellers. The quetions were answered last week, but he wanted something clarified on a couple.

Everything is done now.

a) mortgage offer
b) survey
c) searches
d) main queries answered
e) house insurance, just need to give them the exchange date when ready.
f) Mortgage protection, ditto need to give them exchange date.

We are also chain free, as are the sellers. Now we just need to wait for an exchange date.

Blondiebird

sharon1982 wrote: »

As mentioned earlier, I am still waiting for a date to exchange. We are all ready to go, mortgage offer in, searches completed, deposit ready, plus the seller is not in a chain either. The only thing outstanding is that our solicitor is still waiting on answers to queries from seller's solicitor.

We're in the same boat, mortgage offer in, valuation all good. Searches completed today. We're just waiting on confirmation of an RSJ in one of the downstairs reception rooms before we can exchange, which I've been told by the solicitor will be the back end of next week. Arggghhh! I wish it would hurry up! We leave our rented accomodation on the 17th of July and we wanted a weeks grace with the new property so we can get some work done on it before moving in.

sharon1982

Finally heard bacl from seller today, via EA. She wants to exchange next week and complete week after. I have suggested to EA that we exchange and complete next week (as we have said all along that we want to complete by 22nd before the budget), but let the seller stay there until 30th, which is when she wanted to complete. The EA has spoken to the seller's solicitor and they are happy with that, but they said my solicitor and mortgage company may not be - so just waiting to hear back from the solicitor... However I am guessing she will say no!

sunshinetours

sharon1982 wrote: »

Finally heard bacl from seller today, via EA. She wants to exchange next week and complete week after. I have suggested to EA that we exchange and complete next week (as we have said all along that we want to complete by 22nd before the budget), but let the seller stay there until 30th, which is when she wanted to complete. The EA has spoken to the seller's solicitor and they are happy with that, but they said my solicitor and mortgage company may not be - so just waiting to hear back from the solicitor... However I am guessing she will say no!

Very unlikely any solicitor is likely to agree to vendor remaining on situ once completion has taken place

Providing you have unconditional exchange of contracts before 22nd that should achieve whatever itis tax wise or legal wise you are looking for? (sorry haven't read back as to why you want to move by budget day - assume its stamp duty concerns)

sharon1982

Hi,

Yes we want to complete before budget in case they lower the stamp duty threshold for FTBs. Unfortunately this is calculated at completion rather than exchange - but am hoping that if the stamp duty is changed there will be a grace period - they can't expect people to find an extra £2k once they have already exchanged - I hope!

sharon1982

We have heard back from solicitor - we can't exchange until vacant - however she did say that as long as we exchange before 22nd then the current stamp duty rules for FTBs apply, even if they do change them in the budget.

Seller was going to go to her solicitors and sign the papers early next week, so I have now gone back saying we want to exchange before 22nd, and then we will be happy with her preferred completion date of 30th June, which I think is a fair compromise. Fingers crossed!

Karmacat

Afternoon all! Just joining in here for the first time, and oh dear, it hadn't crossed my mind about the budget and the stamp duty exemption - I'm not a FTB, but there is one at the bottom of my chain, and now I'm frightened to death that they're going to withdraw on Budget Day :eek:

I'm fairly far along in the process - my conveyancer is telling me that we're ready to exchange easily by the end of the month. I've just given him a provisional completion date of 12th July, just before I go on holiday for a week with my mum and my sister.

The task now is to *think* about packing, and get removal quotes. Including a packing quote, because, in spite of all the decluttering I've done, I really don't fancy packing up this lot myself.

hairdye

update on my buying process

environmental search came back, no problems.

going to the solicitors on friday to sign contracts, does anyone know how long it will be before we transfer the deposit and get the keys?

thanks