The NEW waiting to exchange thread...

juniordoc

Cinders: wrote: »

Sounds like you've had a bit of a shaky start, but hopefully the rest will be plain sailing. How long are the searches taking in your area?

Thanks, I've no idea how long the searches take around here, but I'm pretty sure my solicitor will take long enough to do her stuff that the searches will be back first! She hasn't even read the contract documents to be able to raise any enquiries so I guess it could be weeks yet until we get close to exchange.

Scotbot

Juniordoc not sdure why you would meet with your solicitor to go through the survey. Mine came back with 8k of costs so renegotiated price via the EA. Unless you are in Scotland?

westv

6 weeks in and all we have so far is that our buyer's solicitor has raised queries and that the TR1 form has been signed by us. No news on how our buyers are getting on with their sale.

juniordoc

Scotbot wrote: »

Juniordoc not sdure why you would meet with your solicitor to go through the survey. Mine came back with 8k of costs so renegotiated price via the EA. Unless you are in Scotland?

No we are in England, but I think we need to meet because a brand new lease is being drawn up as the property is converting from 1 freehold house to 2 leasehold flats. The owners of the house who have done the conversion have moved into the upstairs flat and plan to stay there at least a few years, and are selling downstairs to us.
As such we will be jointly liable for certain parts of the property under the leasehold, and the survey has suggested that it needs a new roof (not right now but in the near future) and underfloor ventilation put in, potentially a new damp course.
I may be wrong as I'm a complete newbie at this, but would have thought we would want to negotiate a clause in the lease that says any big repairs in the next couple of years should be paid for predominantly by the vendor/couple upstairs, since they have lived there 11 years and let the roof get into disrepair/neglected to tackle the damp.
I don't see that they can reasonably expect us to move in and then equally split a decades worth of maintenance/repair. When we viewed I couldn't detect any of these issues and it all looked in good condition so I'm not keen on insisting work be done before we buy.
Would be interested to hear any advice from anyone who knows this kind of stuff of who's been there before?

Jaglad111

End of week 5. Second viewing and measure up done.

Had the seller's pack today with inventory and initial search results. My solicitor rang for some cash as he has now decided to do a mining survey. He had already quoted for that so guessing he forgot. Further queries submitted for warrenty on the windows and building compliance for a converted garage. Proof of rent for the lease being up to date also.

Requested copies of my credit card statements showing zero balance. Already submitted them but looks like I'll have to send them again.

Should be half way there but feels like we are treading water. Roll on week 6.

Natbag

Ok, so our buyers' electrician flagged up some C1 (urgent and critical) repairs and our EA was chasing feedback from our buyers, cue massive meltdown from me thinking we faced some expensive repairs or a price reduction, or lose our buyers. Again.
Spoke to the EA and they've said that as well as recommending a new fuse box and RCD, it turns out it was just that the smoke alarms are over 10 years old so need replacing. The buyers have reviewed the report and are happy to do the work themselves after completion. Huge relief.
BUT...
It turns out our buyers haven't got their mortgage fully approved yet as the lender is still awaiting a reference. They have an appointment tomorrow to get it all done.
We are 4 weeks in and meant to be exchanging next Friday and completing by the 20th, hopefully, and they don't even have an official mortgage offer?! WTAF?! :wall:
So another hurdle, and a huge one at that. Terrified they won't get a mortgage now and we will be 3 months in and back at square one. Again. Except next door is up for sale now, so a sale will be even harder, and I doubt our vendor will wait for us to sell a third time. I'm normally a really positive person but this whole process has ruined me! Really had enough of it all now. I don't know whether to spend this weekend starting the packing as we have a hell of a lot to do if it does go through, or to curl up in a ball somewhere and cry.

pinklady21

Commiserations. With luck the mortgage offer is simply a formality - so no curling up and crying required! All the best to you, i hope it works out in the end.

Natbag

pinklady21 wrote: »

Commiserations. With luck the mortgage offer is simply a formality - so no curling up and crying required! All the best to you, i hope it works out in the end.

Thank you, I hope so. That reply on your thread hasn't helped put my mind at ease though! :eek:

Cinders:

Natbag - huge hugs, this is such a frustrating process.

Upsy_Staffordshire

I'm so glad I found this thread today - we are now nearly 5 weeks on from accepting an offer and it's nice to hear other people's stories and experiences.

The survey on our house came back fine and we are now waiting for the results of the searches to come back. I think it's been 2 weeks now waiting for the searches to be done, so I'm hoping that next week we will be able to exchange, as our EA said they usually take 2-3 weeks.

I'm not the most patient of people, so I can't wait for all of the waiting to be over and done with! We are lucky that our buyer is no longer part of a chain, as his house sale completed a little while ago so he is staying somewhere else temporarily. We're hoping to complete early November.

Natbag - sorry to hear you've been going through a tough time with your sale - I really hope everything works out well for you in the end