The NEW waiting to exchange thread...

Rusty_Shackleton

Fionamarie1988 wrote: »

Hi 🙂 I've only just signed up as I keep reading others posts on questions about a mortgage. So I apologise for jumping onto this thread it was the first that came up. I hope you don't mind ☺

Myself & partner are in the process of buying a house (first time buyers) we had made an offer of £69.000 and it was accepted. We had our own survey done an it brought up high damp meter readings, we arnt to concerned in reguard to that but informed the vendors estate agent who spoke with the vendors an they said as a good will gesture they would knock off £500 (we didn't ask for this or ask for any conditions) we are just waiting for our mortgage offer to come through shouldn't be long now but that was done as £63.000 Mortgage with our £6.000 deposit. Do we need to go back to our lender with this new offer now?? They valued the property at the £69.000 purchase price ( our lender has said to us if they were taking £500 off try get them to withhold it at the end of sale) but received a letter this morning from the estate agent saying they had sent out the revised offer to the solicitors. So I'm not sure what I need to do now....
Any help would be greatly appreciated! 🙂

Your mortgage provider will definitely need to know the actual price you end up paying, but they surely won't mind if the price has gone down - your solicitor probably sorts this with them once you've got your offer, but beforehand it's probably best just to phone the lender.

Personally I would look into the damp issue more before you accept the £500 off (i.e. don't let the vendors think the matter is closed) - it's only £500, and if you have serious damp problems it'll cost you a lot more to fix.

We had damp issues highlighted on our homebuyers report, and struggled to decide whether to pay for a damp survey. Be cautioned that most damp 'surveyors' are actually sales people for damp proofing contractors, so getting an honest opinion from them is highly unlikely. There are independent damp surveyors, but they're few and far between and cost a lot more. Price differences from quotes I got were £270 for the independent, or £50-130 for a contractor.

In the end we decided against getting a damp survey because there are no signs of problems, only 'damp meter*' readings - we weren't willing to shell out for the independent and a contractor was going to make us worry, regardless of any actual issues there might or might not be. But it's a decision you really need to make with your eyes very wide open!

*damp meters don't measure damp, they measure electrical conductivity.. stick it on your finger and bingo, you've got damp, best get a new damp proof course! Google it, there are genuine surveyors who have blogged about how unreliable they are, and how a lot of the damp industry is basically fraudulent, using those meters to back up claims of non-existent or minor problems.

Rambosmum

We're hoping for exchange this time next Friday, but still waiting for some answers to enquiries. Our sellers solicitors are very slow and somewhat unprofessional. Thankfully though the seller has agreed to 'break the chain' and sell to us without completing on her new purchase (which is not moving).


And now our buyers are asking for £3k off following quotes for some work. They had the quotes three weeks ago so why they've waited is anyone's guess. We've agreed to meet them half way so shall see what they come back with.


Fingers crossed for next Friday.

LuckyG

happytails wrote: »

Nipping in to read up on all your progress & ask a random question. How many days did you leave from viewing/2nd viewing to making an offer? And why?

Our last buyer offered same day but it fell through, this other guy viewed Monday with his dad (2nd view) but no feedback or offer yet - he seemed really keen.

We offered on the day of the first viewing, it was then accepted a few hours later (after a bit of negotiation)

LadyL2013

So on the day of exchange Purplebricks, who my vendor is buying through and thought was moving into vacant possession. Has suddenly turned around and said there isn't vacant possession after all the my sellers seller is in fact moving in to another property through another agent. BUT this only came to light because the vendor at the top's solicitor got in contact with mine today. Otherwise we wouldn't have known there was someone else in the chain. So now exchange has been delayed whilst this other vendor gets sorted. They didn't know until today either that there was two buyers below her buyer. Solicitors say that the top vendors solicitors contacted Purplebricks 2 months ago, but Purplebricks never passed this down to my vendors solicitor. So whilst me and my vendor were ready to exchange, the other vendor is running around like a headless chicken trying to get everything done.

This is completely ridiculous.

michael1234

We viewed just once (for about an hour). Then made an offer. It took a few days to agree with the vendors.

We have a small problem though. I need broadband for work and I know from the past that worst case it can take weeks to get installed.
We haven't exchanged yet, but the vendor's EA has told us that the vendor will be perfectly happy to worth with us after exchange and for us if necessary to take over their landline and pay for the vendor's calls etc in-between exchange and completion. Of course I don't know if the EA is telling the truth (certainly he seems reluctant to give out the vendor's details) and even if he is telling the truth, does anyone know of the best way to guarantee working broadband from day 1 assuming the vendors are being co-operative?

toc25

Happytails

We viewed the property went home, got all excited and panicked because someone else was interested. So we drove back knocked on the door and offered them the full asking price which they obviously accepted on the spot.

So I did pretty much everything you aren't meant to do. It's the second house we have bought and we pretty much did the same with the first one too.

Fionamarie1988

Hi thanks so much for your reply. Yeah that's why we didn't take to much notice of that comment from the surveyor as like you said a lot work in sales of it. I w!s able to speak to the last Tennant of the house as shes local and comes into were i work she told me the only slight damp issue she had was in the downstairs shower room in the winter which id put down to poor ventilation myself. The vendor actually told us this to on a second viewing ( was a Sunday and we needed measurements for something) i will contact our advisor on monday morning to double check. Was hoping to be abke to have it at the end of sale put dont think thats possible now unfortunately.

kilby_007

We completed Friday, picked up the keys and then drove 4 hours for a wedding! Finally got down to the new house this evening! Changed the locks, cut the grass, and pulled up all of the carpets. There's a LOT of work to do! Got the electrician coming tomorrow to look at the wiring and quote for some work (bare minimum is that the consumer unit needs replacing). Also given all of the carpets away on freecycle so they're coming to assist with that tomorrow. I plan to clear as much of the house as possible without using a skip. Even down to the old skirting boards. There's asbestos cement sheeting on the inside of the garage roof, and I'm not sure whether to remove it before I start filling the garage, or just seal it.... decisions!

Thrugelmir

Fionamarie1988 wrote: »

Yeah that's why we didn't take to much notice of that comment from the surveyor as like you said a lot work in sales of it. I w!s able to speak to the last Tennant of the house as shes local and comes into were i work she told me the only slight damp issue she had was in the downstairs shower room in the winter which id put down to poor ventilation myself.

The surveyor isn't pitching for work. They are pointing out potential issues with the property.

Unsure why the previous tenant would be better placed to advise on issues such as damp rather than the professional you employed.

May not be anything wrong. Though possible there is. Caveat emptor.

Brunette84

Hi everyone, thought I'd join in as I placed an offer on my first home last Friday and it was accepted My AIP was also done that day so everything looks good. Seeing my adviser on Thursday to get the mortgage application done. I'll be honest I'm pretty nervous as it's just me and my son so I don't have anyone for support in terms of sharing the worry but then again I guess I have you guys who are in a similar boat x