Anyone else just started the "Buying a House" Process?

LittleTinker

sadsam wrote:

Just a word of warning....
we're buying a house to let... offer accepted 12 months ago... mortgage and searches in place 10 months ago... we might exchange next friday, if all goes well.
It is a simple chain, we dont have a house to sell, the person we're buying from is moving into a house that has been empty for a year... what can go wrong???
everything....


p.s estate agents lie (maybe not all, but ours do)

I agree with you there.
Developers wanted to buy our property and we negotiated a price. They wanted to be in within 4 weeks.

Fine by us we said as it saved us a lot of messing about.

So....we went and found somewhere to move into
And somewhere else for my daughter.

And made arrangements for Mother in Law to move out.

The house we were moving into was empty.....and the developers werent dependent on a sale.....wouldnt everything go smoothly!!!

Not at all!!!!

Nothing wrong with any survey, nothing wrong with any search.....should have all been done and dusted by now.

But.............5 months on, JUST before change of contracts.....they want to lower the price by £20,000!!!!!!

Puts us between a rock and a hard place.

Mum in Law has moved out....so we lost our rent from her.
If we accept their offer we will lose my daughters house....so we lose search fees etc etc
If we dont accept, we are back at square one, have lost both houses and a family member who paid us rent.

DONT get excited by anyone who offers you full asking price, or even near to it.
There is NOTHING in this country to stop them reducing that 1 minute prior to exchanging contracts.

Its about time the law was changed!!!

gimpymoo

Well, No new news from myself.

The solicitors finally received the memorandum of sale from the estate agent so the ball is now officially rolling, well, as soon as they get the cheque from ourselves.

How much is everyone else paying in solicitors fees and disbursements?

In total, our TOTAL fees for buying and selling and ALL OTHER charges (disbursements etc) is £1,700......... Is this a lot? I feel as though im being a little ripped off

PS

Once were in this house, thats it as far as im concerned... Im staying put and its our family home FOREVER. (Unless we have to move areas)

chivers1977

Our HB report is being done today. NR seem to be efficient so hopefully get get the offer this wk.Looking to move 2/11

izoomzoom

On checking the post this morning I was sad to see that we hadn't received our homebuyers report and mentioned this in passing when speaking to my broker this morning, hence not expecting anything to happen today..

Well broker just called me back to say they had spoken to the BS and BS had received the valuations and were doing the offer.

So our mortgate offer has been approved. We are sooooo chuffed !!!!!!! Hopefully should get written confirmation in the morning, but it is such a weight off our shoulders (or should I rephrase that ?)

Bargain_Rzl

Hiya folks,

Haven't joined in with this thread so far but need a vent and know you'll understand :mad:

I'm buying a shared-ownership flat, ready to move into, from a London housing association. They specified a 6-week deadline from acceptance of property to exchange of contracts; I've been soooooo on the ball, as has my solicitor and my mortgage lender, but THEIR solicitor is a nightmare! She had my solic's initial queries for 4 weeks before acting on them; my mortgage offer was with her for a fortnight before she got it approved; when she did finally respond to queries she left things incomplete and had to be asked again - this was a week ago - and TODAY my solicitor has finally received more info from her - surprise surprise, it's still incomplete! :mad:

We were supposed to exchange by last Monday, according to the deadline set by the HA, and I was supposed to get £2k cashback for achieving this :mad: Luckily, the HA is on my side, is chasing this bl**dy useless solicitor, and has assured me that I won't lose the cashback bonus because of her incompetence - but seriously HOW HARD CAN THIS BE? It's newbuild, and both solicitors claim to specialise in shared-ownership; I've had my mortgage offer since August 29th, and I'm NO closer to moving in

Anyway, sorry for moaning. I'll let you know what happens :rolleyes:

MascaraMinx

Hi Guys,

After everything in the process hurtling along at record speed, things have now ground to a halt and have been at standstill for the last couple of weeks. I would like to know if there is anything more I should be doing at this stage, i.e. like pestering solicitors or agents, or whether I just need to be patient?

We've found a buyer and a vendor, we've had mortgages approved and surveys done. Now I'm just sitting waiting with no idea what's happening next or how long I can expect to wait........

pawpurrs

All normal and frustrating, its up to the soliceters to get on with their work, think most of them seem to take on too much work, and of course we all think ours should be top priority , its not being in control of so many things and all the things that can and do go wrong that is so stressfull! and handing over money to all and sundry, aint easy for us msers:money:

I can sympthasise with you all.

Had the mortgage val done onmine today at last! fingers crossed! Waiting to get mortgage offer, had a few complications! Its like living on a razors edge!:mad:

izoomzoom

Hi

I suppose I should say that things have been ticking by nicely for us (although I have complained along the way), but right now we are waiting for our copy of the homebuyers report and once that is in, then I am going to get on top of my solicitor to find out exactly where we are. We need to give notice on our rented place and I am thinking that I really need to do this, but am reluctant at the same time.

upset_2

upset wrote:

- We viewed a house in the last week of August, and made an offer on the spot. This was accepted the next day.
- We put in the full mortgage application on the day the offer was accepted (we already had an agreement in principle).
- We had a homebuyer's survey carried out in the first week of September. The results came back a couple of days later - everything's fine.
- The searches have been completed - all is ok.

There are no chains involved, so we are just waiting for our mortgage offer really. Apparently the valuation won't be done for around another 2 weeks.

Update:

* 29-31 August: House viewed, offer made and accepted, mortgage application submitted, and solicitor instructed.
* 4 September: Homebuyer's survey carried out.
* 6 September: Survey results received - everything ok.
* 7 September: Sent payslips to mortgage company.
* 12 September: Searches completed by solicitors - all ok.
* 21 September: Valuation carried out by mortgage company.
* 26 September: Mortgage offer received in writing! Also received a load of stuff from the solicitors (fixtures/fittings details, property details, land registry details etc.)

pawpurrs

After a few hiccups, mortgage aggreed today.
FTB at the bottom of our chain still not had their mortgage valuation done 4 weeks later, getting concerned about that, and worrying that mortgage val on mine will all be ok, vendors suddenly want lots of extra money for things that were going to be included..........................