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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Nothing. You just tell them to stop being daft by asking for things nobody else does.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 -
That's what I'm tempted to say! I've bought and sold in the local area three times now and this has never come up, or at least never been flagged as an issue/potential issue.davidmcn said:
Nothing. You just tell them to stop being daft by asking for things nobody else does.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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Ha, you joke, but if that was next up it wouldn't surprise me right now!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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