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Date of Entry
tkb7
Posts: 30 Forumite
Hi all,
We are in Scotland, going through the Open Market Shared Equity Scheme.
We have found a house we want to make a offer on, been in touch with all the relevant people. A closing date has been set for this Tuesday (11th April).
Our solicitor has told us there was 3 notes of interest, including ours, and one is also using the same scheme as us. That was at the time of her calling on Friday afternoon.
Due to the scheme we can only offer the home report evaluation and obviously that applies to to the other people using the scheme too. So, we've been advised to put down a date of entry. Which is what I'm looking for advice on. We aren't sure what to put down. We are totally flexible, obviously once everything has been approved and mortgage has come through. But we are renting from family and they don't need us to give very much notice. We are keeping them informed of what's happening.
We have also been in touch with the house owner who has said they have a date of entry for their new place approx. 8 weeks from the closing date of their house.
So, do we put down an actual date or , as MIL advised, put down an 'entry date at sellers convenience'?
Sorry, I feel I've rambled but I hope it's fairly clear.
We are in Scotland, going through the Open Market Shared Equity Scheme.
We have found a house we want to make a offer on, been in touch with all the relevant people. A closing date has been set for this Tuesday (11th April).
Our solicitor has told us there was 3 notes of interest, including ours, and one is also using the same scheme as us. That was at the time of her calling on Friday afternoon.
Due to the scheme we can only offer the home report evaluation and obviously that applies to to the other people using the scheme too. So, we've been advised to put down a date of entry. Which is what I'm looking for advice on. We aren't sure what to put down. We are totally flexible, obviously once everything has been approved and mortgage has come through. But we are renting from family and they don't need us to give very much notice. We are keeping them informed of what's happening.
We have also been in touch with the house owner who has said they have a date of entry for their new place approx. 8 weeks from the closing date of their house.
So, do we put down an actual date or , as MIL advised, put down an 'entry date at sellers convenience'?
Sorry, I feel I've rambled but I hope it's fairly clear.
0
Comments
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Do you have the full cash ready to buy? Or do you have an offer in principle for mortgage?? Have you appointed a solicitor who has already done some preliminary work for a fast deal?
It is unwise to fall out with MiL: It is even more unwise to promise to do a major financial deal on a date when you've no idea if you can do it then or not..0 -
We have a mortgage in principal. We have a solicitor but haven't spoke about a fast deal with her. With the scheme we're doing we need to wait for them to approve the house which take 5 working days. We emailed everything they need to them on Thursday.
8 weeks would take us to the start of June, obviously I'm a first time buyer and really don't know how any of this works. Does getting to the entry date take more than 8 weeks? Or can it be hurried along?0 -
8 weeks is usually enough. Usually depends on whether there are any hold-ups with getting your mortgage offer issued.0
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