Race to be in before Summer

kingkano

Update - our buyer did want to exchange Monday. I had been telling him since 2wks ago it was unlikely on a leasehold flat lol! His solicitors only just (thurs) sent their queries to mine. Strangely it was stuff that was all answered in the pack he was sent a week ago (from our management company). So our solicitor has replied saying you have those answers, do you really want me to waste a couple weeks asking the questions to the mgmt company! phew.

On our buying side, we have our queries back but waiting for local search. And our solicitor asked for some building regs stuff on the extensions built (in 2003) which he says the vendors sols have 'fobbed him off' on. So he has replied back its not good enough and requested it again. I guess they either will get the info together or get an indemnity? shrug no idea.

Basically we are still a couple weeks away I would guess. But getting closer. Im glad our mortgage rate is reserved though I can tell you!!

brock-cruse

Kingkano im glad we sorted out our mortagge too...fixed it for 10 yrs at 5.39% so at least we know exactly how much w are going to pay each month. Anyway update from me is:
Well got a call from banks agent at 5pm to say they were pulling out! Apparently they got the message from their sol that my sale was not progressing ie the independent survey! I told them that no she had decided against this and that we were going into sign Wed and that our buyer was to pay her deposit. They asked could we sign earlier and I said no due to hubby being teacher very difficult to get time off and that was the first appointment anyway. She then said we should complete on Wed. I said we would try but it would all depend on if the deposit was available...arent they !!!!!! (excuse my language!) ..why threaten to pull out now eh? What good does it do? They pull out, a few days later she pays her deposit and we buy it again??!! What do they think they will gain?!! Anyway she did say that this Giles bloke (bank)was whittling! She then asked if we had come up with a date and i told her 19 July which was ok with buyer. She then said that she would phone Giles and ask if that was ok..well im inclined to say "tough we are going for that date"..theres only us that have to move out and in on the same day and so why cant everyone fit in with me for a change? Plus still waiting to hear if they will let us have access during exchange and completion as thats another thing sol left half done. Anyway have emailed his sec to say that we shall expect to exchnage on Wed uinless the deposit is not sorted. Roll on next week!

angel_eyes_3

Our structural survey was done today, but we won't find out what it says for a couple of days until report's back. Hopefully it's all clear then all I have to do is arrange all the other surveys our orginal homebuyers report recommended. Of course if the structural engineer feels the house is not good, then I don't have to arrange anything as the buliding society will again refuse us the mortgage. I've gone past the emotional highs and lows, and am currently calm, what will be will be. I'm not expecting this current state to last.

Kingkano- how's the exchange date arranging going?

Brock-cruse- are you exchanging tomorrow?

Stokegal- did you sort out what you're going to do about the mines?

Any news from anyone else? Need to know it's going right for someone!

brock-cruse

Well been on the phone this morning...no answer to any emails i sent to sol. Agent chased buyer re her deposit and apparntly both her and her sol did not realise there was an urgency to exchange ie on wed...errr what has my sol been telling them? Anyway no chance of exchanging tom although we shall be signing. Looks more like fri now. Then my buyer gone and booked her removals already but on the wrong day..18th and not 19th bearing in mind that this still hasnt been approved by the bank (repo owner) im not doing anything until exchange. Fortunately she says she can change it. Had parents plus plumber round to new house yesterday...has an old boiler only suitable to run 3 bed semi not 5 bed detached. So have to have new one (expected) one new radiator, all trv and new radiator in consrvatory. Good thing is although would take 2 days to do he could do it betwen exchange and completion. So disappointed all not done by tom but here's hoping fro fri!

bobbie78

I'm a FTB who if EA and SOL are to be believed am maybe a week or 2 away from exchanging. It is all very confusing though as I know the vendor won't want to move till the holidays but the EA and SOL's are trying to push it through now. As my deposit is part of the mortgage (northern rock 95% + 5% loan) I thought i'd have to exchange and complete on the same day. I know these are things I should ask the SOL but the house was meant to be valued today but as it is in the Sheffield area i'm not sure if they would have got their. My house is fine and dry though thank goodness. So I guess I check with mortgage broker tomorrow then chase SOL again about final search coming through, then do I just have to go sign my life away?

Also as far as building insurance etc goes how can I get that arranged with the policies etc being sent to a different address until the vendor moves out? is that common practice or would it be ok to get it sent to the new house?

dattasatta

Hiya Everyone,

Can I join this thread please?

I have just excepted an offer on mine and hoping to put an offer in on a house in the next couple of day's.

Believe it or not I want to be in before school starts, am I living in a dream world?

The sellers of the house I want are going to rent once this is sold, a FTB is buying mine so do's that mean that I not in a chain?

Good Luck to everyone on this board, it is so nerve-wracking, I feel sick and the process hasn't even started for me yet!!!!!

nik_k

End of JUNE??? I assume you mean July, right? If so, with a strong following wind, I guess there's nothing to stop this happening...

We are FTBs, offer accepted on house May 14, then had to sort mortgage out as not arranged in advance, both sets of sols are being complete ars*holes, and are still aiming to exchange/complete next week (July 6).:j

End of the day it's down to sols...they get paid loads, but give back loads of stress :mad:

Good Luck!

brock-cruse

Hi all and welcome to newbies...Hope you dont mind but just going to copy and paste my update from another forum i go on as it would take too long to post again!

Searches, mortgage offers and surveys all done, my buyer went in last week to sign we went in yesterday to sign with intention of exchange on fri (repo house bank getting narky).
So got to sol yesterday and he said no way would we exchange on Fri....WHY NOT!!!! ???Because my buyer needs to remortgage her house to pay for deposit and this does not complete for further 7 days (apparently my sol only found out yesterday). I was told by my agent and her sols that she was going in on Fri with bankers draft for deposit. Got my sol to phone hers telling how urgent this now was and why didnt they know about this...all down to the broker she has used which to top it all off is linked to my estate agent. My sol phones bank sol as i said i wanted them informed all the while ( i hate being left in the dark and getting different stories) and he just said he would inform the bank. I called my agent to tell them and said how come they didnt know as she is using their broker she said she would try and sort it out. Banks agent then phoned my agent and they now know that my buyer has 10k in bankers draft but needs the rest from this remortgage. So banks agent going to speak to bank to see if they will accept the 10k as deposit and then we can exchange asap rather than waiting. Im really not sure that they will go for this but who knows eh...
Well this is a farce..
so she is remortagaging current house to buy ours. Remortgage offer been receievd by sols for her remortgage (different from the sols dealing with her purchase - we only found out about them yesterday!). They now want her to sign the title deeds of her house for the remortgage but can she go in and sign to speed it up..no..they are the lenders sol and in the middle of nowhere. Did you also know that it is a postal strike today and tom? So deeds posted today will not arrive until mon at earliest (more like tues) she has to post back so say Tues and then the lender needs 3 days to give out money to sol...taking us to Fri if were are very lucky!!! So we still may not be able to exchange until next Fri or even later.. . Her purchase sols have refused to exchange with only the 10k and completion of 19 july just in case something goes wrong (plus it did look like the bank would have gone for this)
So it was suggested (but by who not sure) that we could exchange using the 10k bankers draft without a completion date as they do with new builds? Not sure if the bank will go for this either but going to ask them. Anyone got any experience of this?? Meanwhile my sol is being really unhelpful saying that if bank pulls out then we should too unless she sorts it out eg bridging loan...as if i would do this now (i mean what is the point and i would never recommend bridging loan to anyone). Lets just wait yet another week and another and another.....flippin postal strike!

Wheres that wine and chips......

buckers_wv

nik_k wrote: »

End of JUNE??? I assume you mean July, right? If so, with a strong following wind, I guess there's nothing to stop this happening...

We are FTBs, offer accepted on house May 14, then had to sort mortgage out as not arranged in advance, both sets of sols are being complete ars*holes, and are still aiming to exchange/complete next week (July 6).:j

End of the day it's down to sols...they get paid loads, but give back loads of stress :mad:

Good Luck!

Yes I did mean end of July Now end of June would probably be the fastest move ever!

michjoe

Hi can I join please.

We have had searches and surveys done and mortgage offer has been made to us, although it did take a while. We did want to exchange today but no luck, we are buying new build and have had a few extras done such as built in wardrobes etc. we are having wood flooring downstairs and the guy that is doing it goes away in 2 weeks, we don't really want to buy the wood flooring till contracts have been signed and we then know that there is no pulling out from our buyer. I have been asking for an update from our sol's for a couple of weeks with no luck, yesterday I emailed solicitor and she replied 'as you are aware we have been constantly been chasing the buyer up through his solicitor, his solicitor is awaiting on documents and proof that funds have been transfered', I don't really understand the transfered funds part so I emailed back asking that this is explained and I am awaiting a response.

We thought we were the one's holding the small chain up as our mortgage offer took a while getting to us, we thought as soon as we got the offer it would be all systems go.

All I want is a date for moving then I will be much happier.

What should we do, just sit and wait?????