Getting to exchange in four weeks

Murphybear

ohdarn said:

AFF8879 said:

Is the seller buying a new build? 28 days from reservation to exchange is a very common requirement for a lot of developers 

It's not, no. It's a property that was apparently owned by a church, who then rented it out to the Needy and Unfortunate. The Needy and Unfortunate then proceeded to absolutely trash it and cover it in filth so the church want to get rid of it.

We found tenants for a house owned by the Salvation Army.  They may have been classed as “needy and unfortunate” as it was a single disabled father with 4 children.  We did routine inspections on the house and it was always immaculate.  Trashing properties is the exception not the rule 

Flugelhorn

we have managed to buy and sell within 4 weeks in the past (last time was 2018) - think it might  have got slower now, last one was 4 months (including Xmas / New Year and an extra random lockdown)

user1977

And if searches are likely to be the main problem, look at getting indemnity insurance instead. Apart from being faster, it is also the money-saving solution...

As with all similar demands though, it's unlikely the vendor will want to flounce off after 4 weeks and start from scratch, as long as they're reassured that you are progressing things reasonably quickly.

ohdarn

Thrugelmir said:

ohdarn said:

AFF8879 said:

Is the seller buying a new build? 28 days from reservation to exchange is a very common requirement for a lot of developers 

 The Needy and Unfortunate then proceeded to absolutely trash it and cover it in filth so the church want to get rid of it.

Suitable for cash buyers only? 

I thought that may be the case but they are inviting anyone to put an offer in.

ohdarn

Murphybear said:

ohdarn said:

AFF8879 said:

Is the seller buying a new build? 28 days from reservation to exchange is a very common requirement for a lot of developers 

It's not, no. It's a property that was apparently owned by a church, who then rented it out to the Needy and Unfortunate. The Needy and Unfortunate then proceeded to absolutely trash it and cover it in filth so the church want to get rid of it.

We found tenants for a house owned by the Salvation Army.  They may have been classed as “needy and unfortunate” as it was a single disabled father with 4 children.  We did routine inspections on the house and it was always immaculate.  Trashing properties is the exception not the rule 

Cool story bro.

ohdarn

We've put our offer in. It's one of over sixty offers put in for the same property. I think our chances of being selected are minimal, so it's probably not something we're gonna have to be worried about 

peterhjohnson

ohdarn said:

We've put our offer in. It's one of over sixty offers put in for the same property.

Wow! Pure curiosity but could you post a link to the details. I'd like to see what attracts that level of interest! :-)

GoogleMeNow

ohdarn said:

We've put our offer in. It's one of over sixty offers put in for the same property. I think our chances of being selected are minimal, so it's probably not something we're gonna have to be worried about 

Oh my!  Is this property special, or really cheap?

fimacdoodle

In my area it takes months currently. Conveyancers and mortgage companies promising much and deliver little. Our conveyancers blamed the council re searches. For months.....it was not true........

ohdarn

peterhjohnson said:

ohdarn said:

We've put our offer in. It's one of over sixty offers put in for the same property.

Wow! Pure curiosity but could you post a link to the details. I'd like to see what attracts that level of interest! :-)

Yup, it's this one:
https://www.rightmove.co.uk/properties/114144824#/?channel=RES_BUY
It looks nice but it's not particularly any bigger than our current three bed terraced house that sold for £85,000. The only thing that's larger is the garden.