Shared Ownership - problems

AKK_3

Hi,

I have no idea what is going on between my solictor and the HA's solictor.
There seems to be a communication problem. My solictor says that they can't do anything without getting the draft contract first and guess what, they have been waiting weeks for it!

I really don't see how I am going to complete by end of Jan, if this is the situation.

My solictor also said they need to do searches but the sellers solictors says they are supposed to do that. I am confused, who is supposed to do what?

I am starting to lose it!

Thanks
A

gettingitsorted

we found the same problems when we bought our shared ownership house ,in the end we just kept ringing them even if it was daily ,the housing association seemed to be so lapse in everything,lost paperwork ,slow in responding to our solicitors .

so the only thing i can suggest is youu just keep on top of them.

deadparrot

some friends are having a similar problem, but it's all to do with the deeds and "staircasing", in fact it's more than just our freinds, but ~50 shared ownership houses have been standing empty since ~May 06 while the legal "stuff" is getting sorted ... not buying in Cambourne by any chance are you?

izoomzoom

Hiya

We finally bought our 50% SO last month. We were nominated for the house in August and although we chased and chased it still took forever.

My only question is: Is your sol experienced in SO ?
My only advise is: Chase chase chase.


Deadparrot - Cambourne in Cambs ? We considered those but they were just too far. We boughts in Beds in the end.

deadparrot

izoomzoom wrote:

Deadparrot - Cambourne in Cambs ? We considered those but they were just too far. We boughts in Beds in the end.

Yes, that's the one, lots of people getting very frustrated with the waiting, many have or are close to having mortgage offers expire, and with the houses stood empty for so long I'm sure there will be issues with vandalism etc.

Presumably the initial builder's warrenty will be expiring soon as well, for the boiler & plumbing etc (I don't mean the 10 year NHBC warrenty)

AKK_3

Now I am really getting worried!

No I am buying in Harrow! I know a couple who have already moved in and I think it took them three months max. If I moved in a month later, I probably not mind too much but more than anything it's the uncertainty that is killing me because it makes it so hard to plan anything.

I have just ordered some sofas to be delivered in 12 weeks (Mid-March). I thinking I should tell the guy not to put the order in until I get the keys?

izoomzoom

AKK: Our purchase took us 112 days in the end, and we were quite knowledgeable re the process because we nearly purchased a SO last year (pulled out at contract signing), and even that one was already into the 3.5 month point. SO purchases are notoriously longwinded !

Anyway, the couple you know that have moved in already, pick their brains and find out who their sol / lenders are. It might be helpful. Regarding your sofa ... we bought some electrical appliances and had the store ring us for weeks on end ... and then when we were ready to receive delivery the item was out of stock :rolleyes:

Deadparrot: We didn't go any further than seeing them on the web and measuring the distance, but one HA (not one we purchased with), took 3 months to get keys from builder and we were so patient with them (only for them to offer the house to others). We were gutted.

lynzpower

Im selling my SO at the mo and god there are horrendous hold ups.

Part of it was the housing association hadnt got its act together and sent only partial docs, plus with mine theres a head lessor which also needs investigating.

God I said i wouldnnt think bout this till tomorrow- shared ownership buying and selling is stressful.

Izoom- you moved in now?

izoomzoom

Lynzpower

Yeah, we exchanged and completed on 29 Nov. The day we originally settled for. We moved in officially on 2 Dec and have had the pleasure of making two mortgage payments thus far.

We still haven't signed the lease agreement (in our name) - in fact all we have seen is a copy of the vendors. Wonder when someone will notice.

lynzpower

Wonder when someone will notice.

In my experience, probably never!

Graham_Devon

I started buying my SO (re-sale) 2nd Jab 06. I was in by 17th August 06.

Excrutiating wait, but worth it in the end. Wasn't so much solicitors in my case but the mortgage providers and the association stalling everything. 2 weeks to sign a piece of paper for instance, everything seemed to take a 2 week turnaround. Then I had problems with the mortgage lenders pulling out after 2 months etc. Nearly had to do a re-valuation, which would have made me pull out at the time.

Dreading selling it, but there we go. I have savings, but don't earn enough for any mortgage lender to take me seriously. So, based on house prices now, the only way I could get on the ladder was to go SO. (would need to earn circa 60k a year to get a house now on my own).

Stick it out, it's worth it in the end as I was able to keep 90% of my savings, which can go towards my next 'fully owned' house as a deposit.

You'll get there in the end, may not seem like it, but you will!