The NEW waiting to exchange thread...

MRPEEVED

25/9 accepted offer on our sale
6/10 our offer accepted on purchase

Follow this with weeks of stress, enquiries, surveys, stress again, re-negotiations, miscommunication, more stress (all regarding sale not purchase).

Finally
11/12 we are told we will be exchanging this week and completed next week.

Margot123

vicki2221 wrote: »

I am certain the current owner has noticed me loitering.

One of the advantages of buying a Probate property where the owner is deceased, is that they won't see you loitering.
Well, let's hope they don't...........:(:A

mutley74

When do i become liable for buildings insurance? On exchange or completion?

Cheery_Daff

mutley74 wrote: »

When do i become liable for buildings insurance? On exchange or completion?

Exchange - imagine if you were legally committed to buying somewhere that then went on fire, and the original owner didn't have insurance :eek: :eek: You'd have to fork out all that dosh for a pile of ashes :eek:

mutley74

Cheery_Daff wrote: »

Exchange - imagine if you were legally committed to buying somewhere that then went on fire, and the original owner didn't have insurance :eek: :eek: You'd have to fork out all that dosh for a pile of ashes :eek:

so i i was Exchanging before Xmas and not completing until 2nd week of Jan, is it easy to buy temporary insurance for this period? As
ideally when i move in i like to buy a combined B&C policy. or can i check vendor has buildings insurance as part of contract until completion?

Any advice welcome and insurers to try for quotes.

Littlebobo1981

vicki2221 wrote: »

Just had a note from vendor's EA - condition of her purchase to a new build is that we exchange within 28 days!

OMG ..can you do it ?

JoJo1978

Mutley74, I transferred the address of my existing insurance, B+C to my new address from exchange. I paid the difference in the annual premium as a one off. There is a special condition on the premium that both addresses between exchange and completion are covered. My old address will drop off the policy tomorrow when I complete. There was no additional charge for this

Aliliva

Surprise surprise, my homebuyer survey report came in this evening, less than one week after I contacted the surveyor, let alone instruct him :T
But obviously there are a couple of issues with the house, so now I'm left here not knowing what to do. One of them has to do with the heating system so, not only it'll be expensive to fix, but it might be a pretty urgent matter. I'll get a couple of tradespeople to come in the place on saturday (if i can agree a suitable time with the EA) to get some quotes for the new boiler and another couple of little issues, but now I'm wondering how to move next.
Would you contact the EA/vendors following the quote and ask for a "discount" on the purchase property? And if yes, of how much? I might have problems finding 5k for the boiler in the very immediate future, and I obviously didn't budget for its replacement when I put my offer in.

Cheery_Daff

I would say it depends what the issues actually are Aliliva. Is there actually anything wrong with the boiler, or does the report just say it doesn't meet modern standards and may need replacing in the future? A new boiler doesn't have to cost £5k at any rate.

Is this your first house? Surveys are notoriously scary-sounding the first time you read them! Why not write out the wording here and see if anyone can shed some light on whether it sounds like a problem or !!!!! covering by the surveyor?

Aliliva

Cheery_Daff wrote: »

Is this your first house? Surveys are notoriously scary-sounding the first time you read them! Why not write out the wording here and see if anyone can shed some light on whether it sounds like a problem or !!!!! covering by the surveyor?

Yep, first house...so I really don't know how much to worry and not to be wrong, I over-worry!
The surveyor wrote:

The boiler is of some age and at the time of the survey was
unserviceable. It needs to be inspected by a heating engineer and a report prepared on its
condition, which may include a recommendation for its renewal soon. Condition rating 2.
Allow for the possibility of having to replace the central heating boiler shortly after
occupation.

As I said, the report has some 4/5 amber items, that need fixing soon-ish, but most of them are trivial and I had priced for them when I put my offer down. What scared me is the part about the boiler, cause I didn't think it looked so bad