Buying a leasehold flat has been the single worst experience of my life

sheramber

https://forums.moneysavingexpert.com/discussion/comment/81855082#Comment_81855082

There is a forum for those

https://forums.moneysavingexpert.com/categories/praise-vent-warnings

Smalltownhypocrite

I have you beat.

It took me 2 years of buying a freehold probate house before it fell through because the person selling it couldn't legally claim the estate and it was repossessed by the bank to pay the estates debt. It was in limbo for so long and there was NOTHING we could do and we already spent a lot of money on the process by the time we where told their where issues (money we lost in the end with nothing to show for it).

What you have is a solicitor doing all the checks YOU asked for, its what you are paying them for. You could choose to accept risk and skip them and complete in like 4 weeks usually. It's all stuff to protect you so you are going in with complete knowledge.

No one has ever said 'flat sales only take 12 weeks' no idea where you pulled that from. Sales of ANY property can range wildly from 4 weeks to 12 months to complete. Six months is the average.

monkey-fingers

https://forums.moneysavingexpert.com/discussion/comment/81854587#Comment_81854587

lol. I've reported this thread.
It's a dupe. They could easily have just carried on on the other moan.

GibbsRule_No3.

I thought it was going to be about noise from above, or complaints from below. If I had ever had enough money for "Right to buy", no way would I have bought my flat. It is so much better where I am now, in a bungalow, no one above and only one side is a neighbour attached.

monkey-fingers

https://forums.moneysavingexpert.com/discussion/comment/81856756#Comment_81856756

Problem is, where I live on the South Coast, bungalows are super popular. To put into context, if I put my house up for sale, a small 3 bed bungalow, I'd be able to get more for it than my friend 100 yards away who currently has their 4 bed house, complete with 3 reception rooms, a detached garage and a 40x10 workshop up for sale. It's been up for 4 months with a few nibbles, but no serious offers.

My neighbours oldy-worldy probate bungalow sold in 2 days for full asking price a couple of months back.

So anyone looking to get out of a flat into a bungalow has zero chance.

somerandomusername

Finally!! Exchanging contracts next week. 4 months 10 days from offer accepted to exchange. I'm completing on the same day.

I'm so glad this nightmare process is over. I'm never buying a flat again haha.

I think the part that frustrated me the most was not knowing how long the management pack was going to take, enquires were going to take etc. Was it going to take 5 weeks or 5 months? Was it going to fall through at the last minute due to some technicality etc.

The not knowing was horrible. And I couldn't even ask my solicitor for an ETA because she herself didn't even know as it all depends how long the replies take, if the replies satisfy the solicitor and if there are any follow up questions…

So glad it's over done now though.

anselld

https://forums.moneysavingexpert.com/discussion/comment/81890565#Comment_81890565

That is in no way "final". Hopefully it will be OK but nothing is certain until exchange and same day exchange/completion is just prolonging the uncertainty. If they have any confidence of exchanging next week why can't they exchange now?

somerandomusername

https://forums.moneysavingexpert.com/discussion/comment/81890733#Comment_81890733

Well I'm assuming it's because there's a notice period for release of funds from the bank, plus the weekend is coming up.

Tiglet2

https://forums.moneysavingexpert.com/discussion/comment/81890753#Comment_81890753

Well, best of luck next week. Hope all goes well and that the decision to exchange next week and complete on the same day is because the solicitors have said so, rather than the agent.

Just to add, 4 months and 10 days to purchase a leasehold property is not slow at all. Most take 6 months or so.

user1977

https://forums.moneysavingexpert.com/discussion/comment/81890753#Comment_81890753

No, both of those things are normal, and not reasons why you cannot exchange in advance.