The NEW waiting to exchange thread...

jcuurthht

I just exchanged on my late mother's property that I inherited last January!

It initially went to market last April at 325k and had a huge amount of offers. We accepted the highest of 350k from a developer. That fell through in September.

 A new offer of 330k was accepted in October but fell through because they couldn't secure financing (mortgage products being withdrawn from market).

Back to market a 3rd time and accepted the only offer of 292k in November.

Completes in 1.5 weeks. I'll be happy to have this saga completed.

SecondStar

jcuurthht said:

I just exchanged on my late mother's property that I inherited last January!

It initially went to market last April at 325k and had a huge amount of offers. We accepted the highest of 350k from a developer. That fell through in September.

 A new offer of 330k was accepted in October but fell through because they couldn't secure financing (mortgage products being withdrawn from market).

Back to market a 3rd time and accepted the only offer of 292k in November.

Completes in 1.5 weeks. I'll be happy to have this saga completed.

Congratulations!

SecondStar

EndlessStruggle said:

After much stress and worry about the survey (after my last purchase fell through due to an AWFUL survey) I am pleased to be able to say this one was so much better.

It needs a little bit of roof felt replacing at the edges and a little bit of concrete into one of the lintels above a window as it has cracked.

The crack isn't a concern as the new windows replaced the original windows so movement can be expected.

There was a blocked drain channel but I've had some lovely photos and videos showing the clog being cleared....

EA has chased some questions today so spoke to mortgage company and valuation is fine and they are expecting to issue an offer end of this week/beginning of next.

Searches are taking so long. We've nearly been waiting a month. Before they changed the processes they were back in 3 days... 

@endlessstruggle with your blocked drain, was that picked up by the survey, and then dealt with by the vendor once they were informed?

I’ve had a blocked drain turn up in my survey, which the surveyor said to have the vendor sort out, but I don’t want to rock the boat!

SecondStar

23/1 - offer accepted

24/1 - ID & proof of address sent to estate agent

25/1 - solicitor instructed for transfer of deeds/equity & conveyancing on purchase

25/1 - meeting with mortgage advisor to confirm docs needed for full application

26/1 - submitted all docs for full mortgage application

27/1 - confirmation of mortgage application received, and valuation booked for 30/1

30/1 - valuation survey done

30/1 - solicitor checklist completed

30/1 - form of authority signed (for transfer of deeds/equity)

31/1 - mortgage offer made!

31/1 - surveyor instructed, level 3 survey booked for 10/2

3/2 - received pre-contract enquiries, report on title, copy transfer, and copy folio map from solicitor

5/2 - paid for survey & signed terms of engagement 

10/2 - Level 3 (building survey) completed

Met the surveyor at the property after for a free consultation of the findings.

Main points were:

An original, 20 year old boiler - still up to date with recent servicing, and presumably in working order, but OLD.

Exterior render loose on the only solid wall, which has caused some water ingress and small damp spots on the interior wall. Surveyor suggests removing the render and either re-rendering or cladding the wall. I’m thankful that it’s a small wall, though I’m conscious that the rest of the exterior render is also likely reaching the end of it’s useful life as well.

A blocked drain, once the cover was removed. Surveyor suggests contacting the vendor and asking them to have this addressed.

Overall, a better outcome than I’d feared. 

folkestonelisa

So I answered one set of enquiries and then this week got another set, with very similar questions so wondering if solicitors read the responses. Grr. And got to buy 2 indemnity policies as well. 😭. I just want to move

EndlessStruggle

SecondStar said:

EndlessStruggle said:

After much stress and worry about the survey (after my last purchase fell through due to an AWFUL survey) I am pleased to be able to say this one was so much better.

It needs a little bit of roof felt replacing at the edges and a little bit of concrete into one of the lintels above a window as it has cracked.

The crack isn't a concern as the new windows replaced the original windows so movement can be expected.

There was a blocked drain channel but I've had some lovely photos and videos showing the clog being cleared....

EA has chased some questions today so spoke to mortgage company and valuation is fine and they are expecting to issue an offer end of this week/beginning of next.

Searches are taking so long. We've nearly been waiting a month. Before they changed the processes they were back in 3 days... 

@endlessstruggle with your blocked drain, was that picked up by the survey, and then dealt with by the vendor once they were informed?

I’ve had a blocked drain turn up in my survey, which the surveyor said to have the vendor sort out, but I don’t want to rock the boat!

Yes, ask them to clear it.

It will only cost around £75-150 for them to do it professionally if they can't DIY and if they have drain/home emergency cover it won't cost them anything.

My vendor cleared it himself with rubber gloves and a hose pipe.

SecondStar

23/1 - offer accepted

24/1 - ID & proof of address sent to estate agent

25/1 - solicitor instructed for transfer of deeds/equity & conveyancing on purchase

25/1 - meeting with mortgage advisor to confirm docs needed for full application

26/1 - submitted all docs for full mortgage application

27/1 - confirmation of mortgage application received, and valuation booked for 30/1

30/1 - valuation survey done

30/1 - solicitor checklist completed

30/1 - form of authority signed (for transfer of deeds/equity)

31/1 - mortgage offer made!

31/1 - surveyor instructed, level 3 survey booked for 10/2

3/2 - received pre-contract enquiries, report on title, copy transfer, and copy folio map from solicitor

5/2 - paid for survey & signed terms of engagement 

10/2 - Level 3 (building survey) completed

13/2 - Level 3 report arrived, and forwarded to solicitor

I found out on Sunday that my sh*tbag ex hasn’t even instructed his own solicitor to draw up the transfer of deeds / equity documents yet. It’s been a month!

I’ve given him time and space in the assumption that we would each go away and handle our sh*t like grown ups, and he’s responded to that time and space by doing sweet f a. If he’s going to act like a child, I’m going to start treating him like one.

I’ve told him to give me details of his INSTRUCTED solicitor by Friday - not the one he wants to instruct, or that he’s planning to instruct, the one he HAS instructed.

If we don’t see movement, I’ll need to go down the legal route to get the house sold. I’m infuriated at how much he’s dragged his feet over this so far. 

EndlessStruggle

@secondstar I would also push to him that you will also seek for him cover all the legal expenses/compensation should he cause further delays.

I've got my mortgage offer so now it's just a case of sending the paperwork back and wait for them to set a date.

They both have jobs they have to give notice to etc so I'm letting them decided although we have loosely said the end of March.

SecondStar

23/1 - offer accepted

24/1 - ID & proof of address sent to estate agent

25/1 - solicitor instructed for transfer of deeds/equity & conveyancing on purchase

25/1 - meeting with mortgage advisor to confirm docs needed for full application

26/1 - submitted all docs for full mortgage application

27/1 - confirmation of mortgage application received, and valuation booked for 30/1

30/1 - valuation survey done

30/1 - solicitor checklist completed

30/1 - form of authority signed (for transfer of deeds/equity)

31/1 - mortgage offer made!

31/1 - surveyor instructed, level 3 survey booked for 10/2

3/2 - received pre-contract enquiries, report on title, copy transfer, and copy folio map from solicitor

5/2 - paid for survey & signed terms of engagement 

10/2 - Level 3 (building survey) completed

13/2 - Level 3 report arrived, and forwarded to solicitor

22/2 - title transfer deed sent to ex from ex’s lender’s solicitor 

Bless my ex’s lender’s solicitor! The ex is question STILL doesn’t have his own representation, but fair play to his lender’s solicitor who is just plugging on, regardless.

They sent across a drawn up title transfer deed to my ex today - he didn’t even realise what it was until I asked for the email to be forwarded to me, then I read it and informed him. I had it looked at by my own solicitor too, who confirmed.

So it remains for him to bring the deed to his solicitor to check it over and witness his signature, it’ll be passed on to me to do the same with my own solicitor, and then we can arrange for the funds to be drawn down and the equity transferred to me.

I’m hopeful that this will be done in a few weeks - allowing for postage times.

I could be exchanged and completed within a month or so!

celly5460

My husband and I are currently in a chain but need to find a way to 

March 2022 - sellers property put on market; sellers begin their search

October 2022 - sellers property reduced to attract offers closer to their offer

November 2022 - seller accepts our offer; solicitors exchange details 

December 2022 - our solicitor applies for searches and submits our mortgage application 

January 2023 - searches and mortgage offer come back at asking price; sellers still searching

January 2023 - rates fall by 0.6% - broker updates our offer; sellers still searching 

February 2023 - rates fall further by 0.3% - broker updates updates our offer

It is now almost a year that the sellers have been looking and yet they have not found a property to buy. They've stated they can't afford to move into temp accommodation yet accepted an offer over the asking price and will be buying an onward purchase mortgage free. We have a baby on the way and need to move but it seems as though this is not important. Any tips to move this forward? We have been looking at other properties as back up.