The NEW waiting to exchange thread...

desthemoaner

amyr said:

Three weeks after offer accepted, we've just had the dreaded news that the house has been underpinned. Waiting for the details. Gaaaah. 

We're hopelessly hoping it's not as bad as it sounds. It was 16 years ago, and only under one room (the one with no suspended floors). As it stands, we're probably leaning to pulling out. Grr.

Fingers crossed that its not too bad, but underpinning is definitely one of those scary ones that tends to prompt difficult decisions.

Last house we sold had been underpinned, but we didn't find out about it till seven years after we sold it. We found out when our ex next door neighbour put hers on the market, accepted an offer and then had the buyers pull out when they discovered it was underpinned. She didn't know about the underpinning either, but when she made further enquiries she found out that ours had been done at the same time. She eventually sold to a cash buyer anyhow. 

Faodail

@birdmadgirl8 no not exchanged just yet I’m sending back some documents today for Monday, I suspect exchange will be later this week, start of next. 

Yeah, I wouldn’t expect to get the keys before completion, that’s why I’m wondering because he knows I’m coming in the 22nd would it be prudent of him to complete the day before so that we can definitely pick the keys up on 22nd. I suppose I will find out this week. Thank you x

Thrugelmir

desthemoaner said:

 Morning all

Just discovered this fascinating thread. We're selling our 3 bed bungalow with a large lawned garden and downsizing to a 2 bed with a much more manageable outdoor space. We accepted an offer on our property on 13th August, and made on offer on our purchase which was accepted 25th August. 

Our buyers are now virtually in a position to proceed. Contracts are signed, searches done, enquiries satisfied, their mortgage in place ( they're in rented accommodation and able to move at relatively short notice). We update each other weekly on progress, though sadly this week there's been none on our purchase. Searches are done and satisfied, EICR completed, renegotiation on price satisfied after surveys flagged up numerous issues, nothing needed now prior to exchange except draft contracts to be drawn up by the seller's solicitors. Sadly that appears to be too difficult  for them, and despite both our solicitor and the sellers estate agent chasing the vendor's conveyancer for those contracts, nowt so far.

Although its still relatively early days, we're beginning to wonder whether if this impasse continues for another few weeks we should threaten to pull out and look elsewhere. We don't want to lose our buyers, who may, or may not wait if we have to start looking again. Another source of urgency is that our purchase ( which is vacant possession) needs a new boiler and some outside work completed fairly soon after occupation, all of which would be best addressed before winter. 

Just need to hold our nerve, I suppose. 

You haven't said what position your vendors are in nor who else is above them in the chain. Remember everybody else is potentially weeks behind you.  Everyone has their own agenda too. 

desthemoaner

Thrugelmir said:

desthemoaner said:

 Morning all

Just discovered this fascinating thread. We're selling our 3 bed bungalow with a large lawned garden and downsizing to a 2 bed with a much more manageable outdoor space. We accepted an offer on our property on 13th August, and made on offer on our purchase which was accepted 25th August. 

Our buyers are now virtually in a position to proceed. Contracts are signed, searches done, enquiries satisfied, their mortgage in place ( they're in rented accommodation and able to move at relatively short notice). We update each other weekly on progress, though sadly this week there's been none on our purchase. Searches are done and satisfied, EICR completed, renegotiation on price satisfied after surveys flagged up numerous issues, nothing needed now prior to exchange except draft contracts to be drawn up by the seller's solicitors. Sadly that appears to be too difficult  for them, and despite both our solicitor and the sellers estate agent chasing the vendor's conveyancer for those contracts, nowt so far.

Although its still relatively early days, we're beginning to wonder whether if this impasse continues for another few weeks we should threaten to pull out and look elsewhere. We don't want to lose our buyers, who may, or may not wait if we have to start looking again. Another source of urgency is that our purchase ( which is vacant possession) needs a new boiler and some outside work completed fairly soon after occupation, all of which would be best addressed before winter. 

Just need to hold our nerve, I suppose. 

You haven't said what position your vendors are in nor who else is above them in the chain. Remember everybody else is potentially weeks behind you.  Everyone has their own agenda too. 

No, I haven't mentioned that, it's true. The previous sole owner/occupier of the property died earlier this year, and its being sold by a relative, so perhaps a probate sale. I don't know if that holding things up, but there's nobody else above them in a chain. 

UnderOffer

@desthemoaner “No, I haven't mentioned that, it's true. The previous sole owner/occupier of the property died earlier this year, and its being sold by a relative, so perhaps a probate sale. I don't know if that holding things up, but there's nobody else above them in a chain.”

Has probate been granted?  

desthemoaner

UnderOffer said:

@desthemoaner “No, I haven't mentioned that, it's true. The previous sole owner/occupier of the property died earlier this year, and its being sold by a relative, so perhaps a probate sale. I don't know if that holding things up, but there's nobody else above them in a chain.”

Has probate been granted?  

I’ve never actually asked that question, not considered it necessary to do so. Would the house be on the market if probate hadn’t been granted? 

HopeAndDriftWood

desthemoaner said:

UnderOffer said:

@desthemoaner “No, I haven't mentioned that, it's true. The previous sole owner/occupier of the property died earlier this year, and its being sold by a relative, so perhaps a probate sale. I don't know if that holding things up, but there's nobody else above them in a chain.”

Has probate been granted?  

I’ve never actually asked that question, not considered it necessary to do so. Would the house be on the market if probate hadn’t been granted? 

I’ve never bought a Probate house but there tends to be a lot of threads on here about them, so I believe it’s pretty standard to market & sell the house while waiting for probate to be granted. 

Hopefully they’ve got it already in your case; though, I’d be unimpressed if they hadn’t mentioned it! 

UnderOffer

If you know the name and year try searching here https://www.gov.uk/search-will-probate. If probate hasn’t been granted find out if they’ve submitted it yet or what stage they are at. 

Thrugelmir

desthemoaner said:

UnderOffer said:

@desthemoaner “No, I haven't mentioned that, it's true. The previous sole owner/occupier of the property died earlier this year, and its being sold by a relative, so perhaps a probate sale. I don't know if that holding things up, but there's nobody else above them in a chain.”

Has probate been granted?  

I’ve never actually asked that question, not considered it necessary to do so. Would the house be on the market if probate hadn’t been granted? 

You are buying the property onus is on you to gather the full facts. No one else is going to do it for you. Not unusual to prelist before probate is granted as property chain transactions tend to take a considerable number of weeks to complete.

desthemoaner

Thrugelmir said:

desthemoaner said:

UnderOffer said:

@desthemoaner “No, I haven't mentioned that, it's true. The previous sole owner/occupier of the property died earlier this year, and its being sold by a relative, so perhaps a probate sale. I don't know if that holding things up, but there's nobody else above them in a chain.”

Has probate been granted?  

I’ve never actually asked that question, not considered it necessary to do so. Would the house be on the market if probate hadn’t been granted? 

You are buying the property onus is on you to gather the full facts. No one else is going to do it for you. Not unusual to prelist before probate is granted as property chain transactions tend to take a considerable number of weeks to complete.

 Perhaps wrongly, I assumed that  "gathering the full facts" about the legal status of the sale was one of the tasks I'm paying our solicitor for. I'll ask on Monday whether they know or not, though it'll probably be a week before I receive a reply.