The NEW waiting to exchange thread...

hazyjo

Scotbot wrote: »

Yes. My survey advised a gas an electric check. The vendor has had the gas check done but not the electrics so I am doing it as there is a question mark over when it was rewired. The surveyor told me that it is standard practice to advise these services are checked. I wouldn't bother with a newer house but if a house has not been maintained and I am up for thousands of pounds in repairs I want to know

Is that Scotland?


I'd tell them where to go (in England though) if they asked for either - unless they were paying for it themselves.

HGW2012

UKTelecom wrote: »

Just a quick one please for the guys that have been through this before:

So I go to sign the contract on Tuesday. I am the buyer - everything has been done now in terms of searches and enquiries answered.

I sign the final contract on Tuesday. Is it then when the date to exchange contracts is set? Or I am guessing this requires communication with the seller's solicitors first?

Mortgage is all sorted and my deposit money is ready to be transferred to my solicitors. Neither myself or the seller is part of a chain, the property I am buying is vacant.

Both parties want this completed ASAP. Just curious about the process, typical FTB naivety!

Why did you ask this? Could your solicitor not have answered for you?

Is this not what this board is all about?

I am merely asking people with experience in house buying and selling for any helpful tips. I may have missed something crucial that someone could give me advise on that could hold up exchanging which I may kick myself for afterwards!

I don't find your comment helpful or relevant and wonder why you even bothered to reply!

UKTelecom

HGW2012 wrote: »

Why did you ask this? Could your solicitor not have answered for you?

Is this not what this board is all about?

I am merely asking people with experience in house buying and selling for any helpful tips. I may have missed something crucial that someone could give me advise on that could hold up exchanging which I may kick myself for afterwards!

I don't find your comment helpful or relevant and wonder why you even bothered to reply!

OK here is one: Have you sorted your buildings insurance? Most lenders require this to be arranged before exchange/completion.

Scotbot

hazyjo wrote: »

Is that Scotland?


I'd tell them where to go (in England though) if they asked for either - unless they were paying for it themselves.

England. f they do I will toddle off and their sale will fall through. I am prepared to pay for the checks but if work is required I am not paying for it as I was told the place was rewired and made the offer on that basis.

HGW2012

UKTelecom wrote: »

OK here is one: Have you sorted your buildings insurance? Most lenders require this to be arranged before exchange/completion.

Thanks, is it before exchange or completion? Because we are not going to complete for a couple of weeks yet. If it's before completion I should be ok to leave it but if it's exchange I will crack on and arrange.

Akahotpot

Well I made the sin of offering on a house before I sold mine
I dropped out of the sale once because I could not get a seller for mine
swapped EA and dropped price and have now got a cash buyer but had to drop even more so said that was the final price and wanted a quick sale
The people I was buying from accepted a new offer knowing I had everything in place now but
my cash buyer is dragging his heels still has not even done his ID or supplied conveyance info
Yesterday I chased my EA and 10 mins later they asked if he can view again with his builder that day
So now waiting to see if he actually starts the process ,feel in limbo

Surrey_EA

HGW2012 wrote: »

Thanks, is it before exchange or completion? Because we are not going to complete for a couple of weeks yet. If it's before completion I should be ok to leave it but if it's exchange I will crack on and arrange.

You need buildings insurance in place from the moment you exchange contracts.

Cinders:

HGW2012 wrote: »

Thanks, is it before exchange or completion? Because we are not going to complete for a couple of weeks yet. If it's before completion I should be ok to leave it but if it's exchange I will crack on and arrange.

You need to have it in place for exchange, as you are legally committed to buying the property.

HGW2012

Thank you all, just signed contracts so all go go go!

Next job close ISA's and sort this insurance.

toc25

Scotbot - We have exchanged now with the original date we wanted as completion so it doesn't matter, He musy have sorted it out.