The NEW waiting to exchange thread...

WorriedKirkels

goodwithsaving said:

I have just signed the contract and TR1 for my purchase. It all feels a bit too good to be true at the moment, and I just dread every email I receive incase it is my buyer pulling out. It's been a very long and stressful road, which has at times made me ill, so I am just praying that it is nearly over. I won't believe it until I have physically moved, so many things could still go wrong (a couple of queries are outstanding before my buyer will sign and I'm terrified of a buyer pulling out at this stage). It is possibly made more difficult by the realisation that I am not sure I want to relocate, but circumstances dictate that I must. Nothing in life is forever, and I can always return.

Great news about the contracts and TR1, has there been an suggestion of dates for exchange and completion? It sounds like it’s moving in the right direction so please don’t worry @goodwithsaving 🤗 x

WorriedKirkels

clare19811 said:

We found out yesterday we're not going to make the stamp duty deadline as our seller's new build has been delayed. So that's an extra £2,500 which is a bit painful to swallow but we had budgeted for it just in case. We're now aiming to exchange early September with a completion date mid October. Their solicitor was asking for exchange with an open ended completion (at least I think that's what they meant), but we're not going to be tied in like with no end in sight, but it seems they're now happy to set a completion date around 14th October. 

I keep telling myself it will all work out and be worth it in the long run!

Completely agree about not going for an open ended completion date as that would be difficult to plan moves etc. Plus, if you are exchanging early September you know there is a commitment by everyone in the chain and completion should progress as planned. Lots of people prefer a longer period between the two but often can’t have it due to there being a culture nowadays of a shorter period, typically one or two weeks (or same day as a result of COVID!) And it will definitely be worth it in the long run 😀 x

goodwithsaving

My buyer has asked for the warranty on the roof, the only problem is that it has lapsed. It's a very good roof so I really don't want them to withdraw over it. My old roof had a paper underlay and leaked, whereas the re-roof was excellent. I have never had a problem with it.
What is the best approach?

Slithery

goodwithsaving said:

My buyer has asked for the warranty on the roof, the only problem is that it has lapsed. It's a very good roof so I really don't want them to withdraw over it. My old roof had a paper underlay and leaked, whereas the re-roof was excellent. I have never had a problem with it.
What is the best approach?

Tell them that it's expired. It's up to them what to do with the information.

Is there a warranty for the rest of the property?

goodwithsaving

Slithery said:

goodwithsaving said:

My buyer has asked for the warranty on the roof, the only problem is that it has lapsed. It's a very good roof so I really don't want them to withdraw over it. My old roof had a paper underlay and leaked, whereas the re-roof was excellent. I have never had a problem with it.
What is the best approach?

Tell them that it's expired. It's up to them what to do with the information.

Is there a warranty for the rest of the property?

No.........the property is over 70 years old.......!

WorriedKirkels

goodwithsaving said:

My buyer has asked for the warranty on the roof, the only problem is that it has lapsed. It's a very good roof so I really don't want them to withdraw over it. My old roof had a paper underlay and leaked, whereas the re-roof was excellent. I have never had a problem with it.
What is the best approach?

Just tell them you had a warranty when it was done X period of time ago but it expired on X date. There are lots on the property we are buying where our solicitors have asked for clarification on warranties etc but it wouldn’t stop us buying if they didn’t have one. At worst, they may ask for indemnity insurance (although I’m not sure on what basis) and this will only cost very little (£150ish) or just accept that there isn’t a warranty (as we have done on our onward purchase). Try not to worry as it’s so easy to question every enquiry and why they have asked - sometimes it is just a question and nothing more. I know it must be hard as the house we had before, our first purchaser went AWOL and after 5 weeks we had to remarket. I then panicked at every little delay or question in case we lost our new buyer. Nothing bad happened and we exchanged & completed in the end x

E_D_FTB

I agree with @WorriedKirkels, @goodwithsaving. Our solicitor asked for warranty documents and bits like that without us even knowing. They have to do their due diligence and try to get all relevant paperwork. If they can't get it, they then have to check with their client that they're okay with that. Most of those things are just part of the process and don't necessarily mean anything. Just try to take things at face value, and not a sign of problems to come.

goodwithsaving

E_D_FTB said:

I agree with @WorriedKirkels, @goodwithsaving. Our solicitor asked for warranty documents and bits like that without us even knowing. They have to do their due diligence and try to get all relevant paperwork. If they can't get it, they then have to check with their client that they're okay with that. Most of those things are just part of the process and don't necessarily mean anything. Just try to take things at face value, and not a sign of problems to come.

Thank you. It's because my buyer "insisted"

E_D_FTB

goodwithsaving said:

E_D_FTB said:

I agree with @WorriedKirkels, @goodwithsaving. Our solicitor asked for warranty documents and bits like that without us even knowing. They have to do their due diligence and try to get all relevant paperwork. If they can't get it, they then have to check with their client that they're okay with that. Most of those things are just part of the process and don't necessarily mean anything. Just try to take things at face value, and not a sign of problems to come.

Thank you. It's because my buyer "insisted"

Ah okay, well if the warranty's expired then the paperwork's no good to them anyway! And honestly, those warranties aren't worth much unless the company is still in business and you're willing to fight. Hope it all gets sorted for you, everything else sounds like it's slowly coming together.

Slithery

goodwithsaving said:

Slithery said:

goodwithsaving said:

My buyer has asked for the warranty on the roof, the only problem is that it has lapsed. It's a very good roof so I really don't want them to withdraw over it. My old roof had a paper underlay and leaked, whereas the re-roof was excellent. I have never had a problem with it.
What is the best approach?

Tell them that it's expired. It's up to them what to do with the information.

Is there a warranty for the rest of the property?

No.........the property is over 70 years old.......!

Exactly. The roof not having a warranty is just as important as the house not having one - not an issue at all.