First time buyers help!

heytoki

Hoploz wrote: »

That means she will gather all the info together such as draft contract, search results, her enquiries and the responses, and she will pass all that on to you. If everything is in order then you sign the contract. If you have any further queries she can either answer them or send them to the seller to respond to.


Once everyone has signed and all queries satisfactorily answered then the chain will be ready to exchange.

My solicitor received a copy of my mortgage offer on Friday 17th and told me that i would receive a report early next week. My concern is that i havent paid any money for the searches yet. Is that normal? What kind of report is he gonna send me?

Hoploz

Exchange any day, it doesnt matter - the sooner the better, but if you complete on a Friday and the money goes missing or something then you've got a whole weekend of uncertainty so it's best to do it a different day if possible

Kirstie93_2

heytoki wrote: »

My solicitor received a copy of my mortgage offer on Friday 17th and told me that i would receive a report early next week. My concern is that i havent paid any money for the searches yet. Is that normal? What kind of report is he gonna send me?

The report is all the information that your solicitor has gathered throughout the process for you to check, then you will sign contracts if you agree with everything.

We paid for searches before they were done, so I would speak to your solicitor about that! They don't normally start the searches until they receive your mortgage offer, but with us I asked her to start them before, so they didn't delay anything

Kirstie93_2

Hoploz wrote: »

Exchange any day, it doesnt matter - the sooner the better, but if you complete on a Friday and the money goes missing or something then you've got a whole weekend of uncertainty so it's best to do it a different day if possible

It would be better for us not to complete on a Friday as it is extremely difficult for me to get Friday's off work!

I have told our solicitor this and she thinks it will be fine as we are buying off a retired couple so I don't think they will mind what day it is

Kirstie93_2

Still no report or contract

Solicitor emailed me today to say she has emailed the sellers solicitor to ask for dates for exchange and completion. It's only us buying their house and they are moving in to an empty property that they have had lined up for 18 months!

She said we will get the contract and other bits to sign tomorrow, fortunately we don't have to wait for things in the post as I work for the same firm as our solicitor

8 weeks and counting....

Kirstie93_2

Kirstie93 wrote: »

Hi

Here is the timeline of things before I start:

Mortgage in principle (Halifax) 28/02/15
Viewing 03/03/15
Offer 04/03/15 (and accepted same day)
Meeting with MA 11/03/15 all checks passed
Valuation 23/03/15
Valuation received 25/03/15
Instructed solicitor 26/03/15 (paid for searches)
Draft contract arrives at solicitors 27/03/15
Enquiries sent 27/03/15
Meeting with MA 04/04/15
Enquiries back 08/04/15
Searches sent 08/04/15
Searches back 09/04/15
Everything ready 30/04/15

Then we get the lovely news this morning that the people we are buying off are no where near ready to exchange!

When we were viewing they told us they had a place lined up which was empty (for the past 18 months) and we were never told any different, and when we viewed they had pretty much everything packed up.

Then, when our solicitor emailed their solicitor yesterday to let them know that we were ready to sign the contract and exchange and would the sellers suggest dates, their solicitor has emailed back this morning to say they are not ready to proceed.

Now we don't know whether the property they had originally lined up has fallen through and they have found somewhere else, and also, if the place they have found is empty or if we are now in a chain! :mad:





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Kirstie93_2

The people we are buying off are still buying the same property.

I emailed the estate agents and they have just told us that the property they are buying, the owner has died so they are waiting for probate etc..

The people we are buying off are thinking about breaking the chain and moving out so we can exchange and complete without waiting for the probate to be sorted.

Hoploz

Oh what a blow!
These things take time to sort out, it's great that your seller is considering vacating for you. Fingers crossed.

Kirstie93_2

Still no closer to getting a date Getting so fed up with it now just want to throw the towel in!!

I emailed the estate agent on Tuesday asking for an update and whether the vendors had any dates in mind or if they knew how long the probate was taking for the property they are buying. The reply was that the vendors expect to be able to update the EA in 'the next few days' (so next week then) and that they are waiting for a time frame from the probate company, before they decide whether to break the chain or not

I emailed our solicitor this morning to ask whether we could sign everything now as my boyfriend is going to Poland with work next week so won't be here to sign anything, her response was nothing will happen next week for definite :mad:

Apparently it takes up to 5 days to draw the money from the lender (this seems a long time to me), especially if you've been approved and have an offer, what takes so long?

It will be 10 weeks on Wednesday, and it's starting to look like it will still be going in June

Hoploz

If everything else is in order there's no reason you can't sign before he leaves. Nothing is binding until the solicitors exchange the contracts that have been signed, and they only do that when you give the final ok.

But the reality is that probate is likely to take a few months. I can understand why the sellers want to know the length of time before they commit either way.