The NEW waiting to exchange thread...

Exoterror

No expected dates yet, but hoping for completion before the end of March

ashe

Nationwide just gave me a heart attack, sent me an SMS saying they've issued a revised mortgage offer!!! Was just opening facebook messenger to contact our broker when he rang, and said its because we queried the amount of cash back being £100 as I was and existing customer, when my partner is an FTB as he told us we would get £500. We weren't massively bothered but asked about it and forgot - he had been on the phone to them sorting it out and they've sent a revised offer with the updated cash back.

Result, but caused a panic!

rwcwilson

spendinglikemad wrote: »

Welcome and good luck!!! I am not sure you have any wiggle room but it would have made sense to try and include some of the white goods in with your offer but a little late now.
What is fitted in the kitchen/utility right now that you would be expected to leave and what will be removed will be listed in the fixtures and fittings list from the seller so I would wait to see what is listed included in the price first and then you could contact the EA to ask if the sellers are willing to negotiate on any items.

Furniture wise I know it is so tempting to get furniture in the sales but it may make sense to move in and then see what you need, its only by living in a house that you work out what will work etc. When I moved into my first property with hubby we had a picnic table and some deck chairs!

We were very lucky with our next purchase as we met with the seller after agreeing the sale to discuss any items they wanted to leave and we did pay for some of the insurances to progress the sale so it was a bit of give and take - that said it depends how old the white goods are in the property and how well maintained

At least find out where the land lies on the F&F forms first and take it from there - exciting though!!

SLM

Thanks for the advice SLM. The sellers are chain free (one has moved out and lives in the london, the other is going travelling and not buying a house for now), so I doubt they'll want to keep anything and will be selling most stuff, we'll clarify the latter on Saturday.

When is the fixture and fittings list generated? I suspect the estate agents will be pushing us for an answer, particularly as the seller will probably want to sell the stuff before we exchange/complete.

Ideally we'd like them to just leave the stuff, as I imagine it'll be a pain for them to sell it all but at the same time don't want to miss out on the opportunity to buy a few things cheaply to get us started.

Amanda_Cm wrote: »

Tamsin, wow that was quick! Congrats!

Rwcwilson, witch part of the country is that? Just wondering. Don't have experience with the white goods but it doesn't hurt to ask your solicitor.

Chorlton, Manchester.

ashe

rwcwilson wrote: »

Thanks for the advice SLM. The sellers are chain free (one has moved out and lives in the london, the other is going travelling and not buying a house for now), so I doubt they'll want to keep anything and will be selling most stuff, we'll clarify the latter on Saturday.

When is the fixture and fittings list generated? I suspect the estate agents will be pushing us for an answer, particularly as the seller will probably want to sell the stuff before we exchange/complete.

Ideally we'd like them to just leave the stuff, as I imagine it'll be a pain for them to sell it all but at the same time don't want to miss out on the opportunity to buy a few things cheaply to get us started.



Chorlton, Manchester.

As part of the client care pack for the solicitors the seller willl complete a form stating what is included and if they have agreed a price with you for any fixture and fittings,you could just wait and see what they include but if I was selling a house I probably wouldn’t just give everything away as it’s probably at least a few hundred quids worth

Look at the quality of what’s in there, price up what it would cost you new, compared to used prices on eBay, knock a bit off for convenience and make them an offer.

Alternatively ask them how much they want and take it from there?

TamsinC

Amanda_Cm wrote: »

Tamsin, wow that was quick! Congrats!

We were surprised at how quickly it all came together in the end - had been envisioning it dragging on for a few more weeks. Still all good and can now progress with our purchase (we are in rented so they didn't need to tie together)

ashe

Updates in bold!

23/06 house listed on Rightmove with EA1
20/7 discussed fees with EA1 after reading details on here, revamped rightmove ad completely as their photos were terrible and rewrote the description. EA1 not willing to negotiate on fees, they had overvalued the property for the market and despite us reducing it significantly, still wanted their fixed fee, as is their right I suppose. For the record, their fixed fee was equivalent to 4% of the property value now it had been reduced and we were locked in to a 6 month contract.
15/08 got tired of poor quality viewers EA1 was sending over that had no interest to buy (EA on the day was even saying 'yeah they view all our houses, have done for past 2 years but never offer'!), tried one more time to negotiate a fee and said if not willing to negotiate would price back to their original valuation which wont sell and wait out the contract. No movement on their side, so price increased.

2018
01/12 requested quotes from other EA's, played off the ones we liked best and had the best local presence and negotiated 12 week contract with EA2 for 1.2% fee, due to go live mid Jan
23/1 Ad goes live on Rightmove with new EA2
30/1 first house viewing with new EA2, asking price offer next day
31/1 Solicitors instructed for sale
1/2-9/2 Many, Many house viewings, viewed every house that met our criteria in area we were looking to move to
9/2 first 2 offers rejected, 3rd offer accepted on property with l loads of space that meets all our needs
12/2 meeting our mortgage broker to go through the full application. Previously had an AIP but it had expired but should not be an issue
12/2 solicitors instructed, DIP Accept decision received, only asked for payslips
13/2 Booked Homebuyers survey for thursday. Company has scope for fast turnaround and will get report same day
13/2 Checked my Credit file on Noddle out of interest to find that my 'excellent' credit rating (Never missed any payments, never had any issues getting credit - any credit card I apply for gives me ridiculous limits like 15k) is tarnished by a £67 default on EE!! Had a heart attack. Took out a phone for an ex partner in 2013, she turned it into her name but then defaulted but looks like EE records have it in my name still, at her address. This was all sorted in 2016 with EE assuring me that it wouldnt impact me - was only when I used Noddle rather than Experian that it came to light. Frantic emails and calls to EE. Panic!
14/2 Full mortgage application completed with broker via nationwide, decision Accept, will only relax when we get the offer in full! Broker said if accepted at this stage hes never had it come back with an issue and normally they accept small telecoms defaults anyway.
14/2 Call from EE Credit team, said nothing on my file with experian other than linked address - said yes my info concurs but on callcredit it shows a default, she said let me check and went away for a few minutes, came back and said yes our mistake that, sincere apologies - correction sent to all CRA's to confirm not my default and remove linked address as I have never lived there. said would take 24 hours to remove default, up to 14 days to remove linked address. Relief!
15/2 Homebuyers survey takes place today, report available at some point later in the day. EA called to say Nationwide have been in touch and are going to contact the seller to conduct the valuation (we booked the Homebuyers independently). Hopefully valuation will be quick and we can find out if we can get a concrete offer shortly so we can relax.
If it declines, hopefully we have grounds for appeal if its to do with CRA info.ced and we were locked in to a 6 month contract.
15/2 Homebuyers report received, all clear apart from a few whinges about no mains powered smoke alarms and the fact that boiler is in the loft. Nothing of any concern! relief.
16/2 Our buyers Homebuyers report is back in and I am kicking myself. Volunteered some information in conversation that previous owners put the bathroom window in, he put in report to check for building regs. It's been there 17 years and it didnt come up on my survey, but apparently its needed. Buyer says not a dealbreaker but would like to investigate, he discusses with solicitors and they steer him away from indemnity and he suggests getting council in to sign it off retrospectively. Another thing to stress about!
16/2 Mortgage broker tells us we are approved pending valuation. Still really hoping they don't ask for 3 months bank statements. My partner and I both do a lot of matched betting and always assumed as you make a guaranteed profit there would be no issues so probably our main source of stress has been needing to show statements. We found out this is bad on Jan 31 and havent done any since, so if they ask for 1 months statements we are clear as we can delay a week and give them the latest statement, but if they ask for 3 months game over. Still, broker said they only asked for payslips and hes never had them be requested after that stage, but we will see.
17/2 Nationwide valuation takes place first thing
17/2 Buyer asks if he can come along and look at the window and have a chat, agree he can come tomorrow (sunday)
17/2 Nationwide text at 6PM to say they've received the valuation report and will be in touch soon
18/2 buyer comes and is more than happy with window installation and quality, is going to tell solicitors not a problem at all.
19/2 we are going on holiday to Amsterdam for 4 days - really hoping based on some of the timescales we have seen on here that we might get a mortgage offer Monday or Tuesday (and no statement request!)
20/2 mortgage offer received ! Woohoo no bank statements needed! Over the moon, literally (still in Amsterdam)
23/2 Start to panic that the vendor still has property listed with another EA!
25/2 Panic further as friend who lives next door tells us Sold sign has disappeared from the For Sale board! EA tells us seller has not sent the paperwork off to solicitors yet!
26/2 EA reassures us that he has spoken to seller and reason he had not sent paperwork off yet was because our surveyor had mentioned needing building regs signify for removed wall and door so he was getting that. EA forgot to ask about removing listing from right move with other EA
1/3 EA contacts us to confirm that seller has now sent paperwork off to his solicitors although likely delayed by snow, and that seller is going to contact the other EA and delist from Rightmove. Just a waiting game now!

Margot123

I'm selling a property and been waiting nearly 7 months for it to get from offer to 'nearly' at exchange.

I've had a property alert from the Land Registry saying my buyers solicitor has lodged a search to protect a pending charge by HSBC Bank.

Any ideas, please? Can't find out on LR site what this means.

I thought all searches were carried out early in a transaction, not days from exchange.

it'smeok

Margot123 wrote: »

I'm selling a property and been waiting nearly 7 months for it to get from offer to 'nearly' at exchange.

I've had a property alert from the Land Registry saying my buyers solicitor has lodged a search to protect a pending charge by HSBC Bank.

Any ideas, please? Can't find out on LR site what this means.

I thought all searches were carried out early in a transaction, not days from exchange.

I would expect this is saying they've lodged their priority search - this is standard and isn't really a search like the others, it just protects the position of the buyer and their lender. So, shortly before exchange (because the 'priority period' granted is limited to only about 30 days), the solicitor will carry out the search and it means that the property can't be sold/charged by anyone else during that period.


It's because there can be two or more charges over a property (ie, two loans that are secured against that property) and if the house was sold, the proceeds would be paid in order of who has 'priority' over that asset. So no lender wants to be second in the list of charges, or else they might not get all (or any) of their money back. So the priority search makes sure they're top of the queue, at least for the next 30 days.


It's obviously very unlikely that the seller would randomly get a new mortgage days before exchange, but if they did and didn't tell anyone, the buyer could own the property subject to that mortgage, their lender would come second in priority, everyone would be very annoyed.

Margot123

it'smeok wrote: »

I would expect this is saying they've lodged their priority search - this is standard and isn't really a search like the others, it just protects the position of the buyer and their lender. So, shortly before exchange (because the 'priority period' granted is limited to only about 30 days), the solicitor will carry out the search and it means that the property can't be sold/charged by anyone else during that period.


It's because there can be two or more charges over a property (ie, two loans that are secured against that property) and if the house was sold, the proceeds would be paid in order of who has 'priority' over that asset. So no lender wants to be second in the list of charges, or else they might not get all (or any) of their money back. So the priority search makes sure they're top of the queue, at least for the next 30 days.


It's obviously very unlikely that the seller would randomly get a new mortgage days before exchange, but if they did and didn't tell anyone, the buyer could own the property subject to that mortgage, their lender would come second in priority, everyone would be very annoyed.

Thanks for the clarification.
I hadn't a clue what it all meant, but I do now.

crystalpinks

Hi Everyone!
I was meant to exchange last week....
Long story short, solicitor has taken so long doing nothing and hasn't send form to help to buy so they can issue authority to proceed. Developer have now said if this isn't submitted by 2nd March then they will remarket the house ..... solicitor is at home today due to snow ....
if I loose this house because of his delay I don't know what I'll do!
Has anyone lost a new build house after failing to exchange fast enough? The development is very high demand
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