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Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Just to put the contrary possibility: if the new offer were sufficiently better, AND the new buyer offerred to Exchange in 24 hours, AND your own Exchange was being delayed (eg by a mortgage appliation) then they might well drop you and just go with the new buyer.

    Basically there are no hard and fast rules, just guidlines.
  • LP84
    LP84 Posts: 71 Forumite
    DannyboyMidlands wrote: »
    Very smooth but probably because nobody else wanted it. The vendor was annoyingly demanding and our solicitor a bit tardy but we exchanged within 4 weeks of the offer being accepted and completed a week later.

    It sounds like you've done all you can. Just chase up the flow of information, make sure everybody has what they need and try to relax.

    Thanks. Hopefully, it being Christmas will help
  • LP84
    LP84 Posts: 71 Forumite
    G_M wrote: »
    Just to put the contrary possibility: if the new offer were sufficiently better, AND the new buyer offerred to Exchange in 24 hours, AND your own Exchange was being delayed (eg by a mortgage appliation) then they might well drop you and just go with the new buyer.

    Basically there are no hard and fast rules, just guidlines.

    How could you humanly exchange within 24 hours?
  • sonastin
    sonastin Posts: 3,210 Forumite
    Cash buyer, money in solicitors account, no interest in what surveys, searches etc have to say.

    If you are getting a mortgage, you are obliged to go down the survey & searches route to protect the lender but if you're putting down your own cash despite any advice to the contrary from your solicitor you can go ahead and buy without knowing anything more about the property than the vendor is selling it. Fools and their money and all that...
  • GDB2222
    GDB2222 Posts: 26,559 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    sonastin wrote: »
    Cash buyer, money in solicitors account, no interest in what surveys, searches etc have to say.

    If you are getting a mortgage, you are obliged to go down the survey & searches route to protect the lender but if you're putting down your own cash despite any advice to the contrary from your solicitor you can go ahead and buy without knowing anything more about the property than the vendor is selling it. Fools and their money and all that...

    Yep, done that.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    LP84 wrote: »
    How could you humanly exchange within 24 hours?
    I know the property so don't need a survey.
    I know the area so don't need searches.
    I have the cash so don't need a mortgage.
    I know it's good value so don't need to negotiate.
    I know it's a repo and speed counts.
    I have a good solicitor lined up or do my own conveyancing.

    So I Exchange in 24 hoursand cut out the competition.
  • LP84
    LP84 Posts: 71 Forumite
    Ok. Do you think it is worth transferring our money to the law firm?
  • LP84
    LP84 Posts: 71 Forumite
    The house is 2 bedroom and there are 3 bedrooms in area for same price . It's not really a bargain buy
  • GDB2222
    GDB2222 Posts: 26,559 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    LP84 wrote: »
    The house is 2 bedroom and there are 3 bedrooms in area for same price . It's not really a bargain buy

    So, why are you buying this one ???????????????????????????????????????????????????????????
    No reliance should be placed on the above! Absolutely none, do you hear?
  • LP84
    LP84 Posts: 71 Forumite
    GDB2222 wrote: »
    So, why are you buying this one ???????????????????????????????????????????????????????????

    It's a new build and the cheap 3 bedrooms are repos that are a bargain and we fell in live with this one.
This discussion has been closed.
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