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when can we say wev got it
fkelanne
Posts: 706 Forumite
hi all, we r in the prosess of buyin a house it was repossed from the owner n now the bank is sellin it (at a lower price) we have put the offer in yest for the asking price. and see a adviser 2moro. when can we say it ours? and no 1 else can bid on it?
savings for 2012.. New year new me.. Going to save save save... and not spend spend spend. :rotfl:
WANT £7000 BY JAN 2012.
Jan -£80
Feb -
March-
WANT £7000 BY JAN 2012.
Jan -£80
Feb -
March-
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Comments
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when you exchange contracts then you know for sure you have got it.0
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so can sum1 bid higher then us up until then?savings for 2012.. New year new me.. Going to save save save... and not spend spend spend. :rotfl:
WANT £7000 BY JAN 2012.
Jan -£80
Feb -
March-0 -
You're not 100% safe until you have completed the transaction ie keys in hand, walking in the door.
But it's unusual to lose a property once you have exchanged contracts. (Although it DOES happen).Don't see the point anymore in offering advice to people who only want to be agreed with...0 -
so how long do that take (sorry ftb)?savings for 2012.. New year new me.. Going to save save save... and not spend spend spend. :rotfl:
WANT £7000 BY JAN 2012.
Jan -£80
Feb -
March-0 -
Have you actually had your offer accepted?
You will need to instruct a solicitor, searches will need to be done. You need your deposit sorted out and your mortgage.
Until you exchange contracts anyone can some in with another offer and it will be up to the bank whether they accept it or not. The closer you get to exchange the less likey they are to accept another offer (unless it is substantially more) as they will have to start the process all over again.
However, the bank are obliged to get the best possible price for the property so you are going to be at risk of being gazumped up to exchange.0 -
Its a horrible stressy time til you exchange then complete. Anything can happen and does, but unfortunately there is little you can do. Just keep everything crossed in the meantime
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