Property buying/selling timeline - currently into week 21
04/12/20: Both properties listed for sale
11/01/21: Offers
accepted on both sales & on our joint purchase
25/01/21: Identity checks completed, solicitors instructed
27/01/21: Purchase survey & valuation complete, mortgage offer
received
05/02/21: Reduction agreed on partner's sale (under-valuation) & on
purchase. Mortgage offer amended
08/02/21: Buyers pack returned to solicitor - sellers packs already returned
26/02/21:
Partner's sale contract signed
10/03/21: Purchase searches all back
16/03/21: My sale contract signed
28/03/21: Purchase enquiries satisfied, Title
Report & contracts issued, contracts signed & returned
11/05/21: Still waiting on final enquiry in the adjoining chain to be resolved. Consent to break the chain granted, instruction to move to exchange given.
17/05/21: All parties agreed to June 3rd for completion
27/05/21: Exchanged on my sale only
28/05/21: ALL EXCHANGED!
03/06/21: Completion
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Radon Report

Natbag
Posts: 1,563 Forumite


Our buyer's solicitor is asking us if we have a radon report, as the local area has a slightly higher chance (up to 5%, rather than the average of 1% for the city). We don't. And it seems that to do a test would take 3 months.
What does this mean for our property sale? I know they could ask for a retention so that if they move in and test they'd have money set aside to do any work required, or is there indemnity insurance for this? We accepted their offer £5k under asking price then their lender under-valued the house by a further £10k and we took the hit, so I'm loathed to continue throwing money at this, especially as we already stated we'd accept the £10k reduction on the condition there would be no further negotiations over price/costs. It seems never ending.
What does this mean for our property sale? I know they could ask for a retention so that if they move in and test they'd have money set aside to do any work required, or is there indemnity insurance for this? We accepted their offer £5k under asking price then their lender under-valued the house by a further £10k and we took the hit, so I'm loathed to continue throwing money at this, especially as we already stated we'd accept the £10k reduction on the condition there would be no further negotiations over price/costs. It seems never ending.
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Comments
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Natbag said:Our buyer's solicitor is asking us if we have a radon report, as the local area has a slightly higher chance (up to 5%, rather than the average of 1% for the city). We don't. And it seems that to do a test would take 3 months.
What does this mean for our property sale?1 -
davidmcn said:Natbag said:Our buyer's solicitor is asking us if we have a radon report, as the local area has a slightly higher chance (up to 5%, rather than the average of 1% for the city). We don't. And it seems that to do a test would take 3 months.
What does this mean for our property sale?
Our solicitor has advised us to say we don't have a report, so we'll see what they come back with.
Property buying/selling timeline - currently into week 21
04/12/20: Both properties listed for sale
11/01/21: Offers accepted on both sales & on our joint purchase
25/01/21: Identity checks completed, solicitors instructed
27/01/21: Purchase survey & valuation complete, mortgage offer received
05/02/21: Reduction agreed on partner's sale (under-valuation) & on purchase. Mortgage offer amended
08/02/21: Buyers pack returned to solicitor - sellers packs already returned
26/02/21: Partner's sale contract signed
10/03/21: Purchase searches all back
16/03/21: My sale contract signed
28/03/21: Purchase enquiries satisfied, Title Report & contracts issued, contracts signed & returned
11/05/21: Still waiting on final enquiry in the adjoining chain to be resolved. Consent to break the chain granted, instruction to move to exchange given.
17/05/21: All parties agreed to June 3rd for completion
27/05/21: Exchanged on my sale only
28/05/21: ALL EXCHANGED!
03/06/21: Completion0 -
do a meteorite-hit-probability report at the same time they are bound to ask for it.1
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pbartlett said:do a meteorite-hit-probability report at the same time they are bound to ask for it.Property buying/selling timeline - currently into week 21
04/12/20: Both properties listed for sale
11/01/21: Offers accepted on both sales & on our joint purchase
25/01/21: Identity checks completed, solicitors instructed
27/01/21: Purchase survey & valuation complete, mortgage offer received
05/02/21: Reduction agreed on partner's sale (under-valuation) & on purchase. Mortgage offer amended
08/02/21: Buyers pack returned to solicitor - sellers packs already returned
26/02/21: Partner's sale contract signed
10/03/21: Purchase searches all back
16/03/21: My sale contract signed
28/03/21: Purchase enquiries satisfied, Title Report & contracts issued, contracts signed & returned
11/05/21: Still waiting on final enquiry in the adjoining chain to be resolved. Consent to break the chain granted, instruction to move to exchange given.
17/05/21: All parties agreed to June 3rd for completion
27/05/21: Exchanged on my sale only
28/05/21: ALL EXCHANGED!
03/06/21: Completion0 -
Radon turned up as an issue on my flat. I thought it was weird for south east London but it related to a band of chalk in north west Kent. I looked at the soil and decided, geological map or no map, the building was sat on London clay rather than chalk. I did do a radon test after I moved in just for peace of mind. And hey, I was right. Radon levels infinitesimal.
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Do you have a cellar? Solid floor or suspended timber?But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll0 -
Interesting i thought Radon was due to granite not chalk but a quick google shows that it is, but can seep through fissures in porous chalk from underlying granite.Its easily fixable though a few hundred pounds usually for a fan and some ventilation so they would be taking the michael if they wanted thousands off.FWIW I am pretty sure i had a q if Id had a radon test for my house i was selling and i said "no" and that was an end of it. I think most of the time solicitors have to ask these questions to cover themselves, not the buyer.0
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