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The NEW waiting to exchange thread...

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Comments

  • houndour
    houndour Posts: 127 Forumite
    Lurking, yes! Although we haven't got ftb worries with the market, we have substantially increased our mortgage with this move, and I had the same this time with the process being dragged out more than deemed necessary and giving me too much time to think! Right up until the point the delivery men left I still felt anxious.

    But now I'm left here with a mountain of work to do, it's a step up, I've potentially sorted out driveway issues out (one of my worries). And all the worries have gone :)

    I think it's all perfectly normal.

    That's not to say financially things can go tits up in the future. You just don't know, do you? We've gone 5 years fixed, so hoping that will give us enough time to sort the house out, with no surprises on the mortgage. We fixed last time and got it wrong. It was a few months before the rates started going down!
  • betsycat
    betsycat Posts: 107
    Combo Breaker First Anniversary
    Forumite
    Does anybody know why the old thread disappeared?! What a shame!

    We're nine and a bit weeks in, searches back, mortgage offer sorted, survey done, FTB at the bottom of a small chain which has (apparently) been ready to go for a while.

    Our solicitor – who unfortunately left the firm yesterday, and was doing a great job! – has been tying up the list of queries, and yesterday our seller's EA told us a couple of potential completion dates towards the middle/end of August. Should be getting the contracts this week to sign.

    We're currently renting with 2 months notice to give (from a period beginning the 5th) so looks likely that we might complete before we can give notice, and will have to double up on rent/mortgage and bills for two months. Not feeling confident enough in those dates currently to give notice on 5th August – plus we want to be able to get out at least one of us out ASAP once we've handed in notice as we have fugitive cats (letting agent knows, but is turning a blind eye – we think because the previous tenant was a massive nuisance and absolutely trashed the place, and we've been here 4+ years, made the place/garden much nicer and caused no trouble. We know it's bad, but we had to move to London in a bit of a hurry due to jobs and places were getting snapped up without viewings! Getting carpets cleaned/fumigated when we leave, only damage is to our own furniture, etc etc)

    I expect this is the part where it all drags out a bit! But hopefully not, as most of our queries have been answered, and the chain almost broke before we offered as our vendor's previous buyer pulled out, so by this point everyone's pretty desperate to complete.
  • happytails
    happytails Posts: 1,554
    First Anniversary Combo Breaker First Post
    Forumite
    Well I've had a total poo 24 hours. Got a text yesterday from my purchaser saying her dad has looked at the survey and now she wants to knock £7000 off. I said no, said we could knock £1000 off and shes said she will think about it. The surveyor valued it at the same price as the offer she made/we accepted so I didnt want to knock any off but dont want to lose the sale. Also I cannot knock any more off as otherwise we cant move. So a bit stuck now. Hoping she carries on as we were due to exchange in a few weeks.

    My agent got us another viewer though for tomorrow who has an offer on her house so maybe a good back up.

    Very worried though, she knew it needed rendering and a new roof within 5-10 years. Survey said needs new electrics and new boiler despite them both being in good working order, new roof, render, guttering etc. Yes it is in need of updating exterior wise hence why we reduced it to a very good price to reflect this. Not what i was expecting to be thinking about this weekend. Its certainly put me off packing or planning now :(

    Sarah
    DFW Total £21,800 to clear by Dec 2022
    MFW Total £184,950 £179,066 to clear by 2035
  • LadyL2013
    LadyL2013 Posts: 191
    First Anniversary Combo Breaker First Post
    Forumite
    Still waiting in the searches. It's been a month now. Everything else has been done.
  • pollyannaL
    pollyannaL Posts: 127 Forumite
    @ Lurking - yes - this is exactly how I feel (also a FTB, single purchaser!). The first few days after offer/ accepted offer I was happy and excited. As time has passed, I worry that i have overpaid, that there is going to be something drastically wrong with the survey (arranged for next week). Also worried if i lose my job or become ill. I think all we can do is read a lot and get as much information as we can about planning for emergencies etc. I have spoken to friends and they all say they felt like this, and worried they had picked the wrong house! I had my perfect house in my head, and the house i am buying isn't it. I think i am reluctant to get too excited incase something goes wrong.
    Good luck!
  • sukavi2011
    sukavi2011 Posts: 72
    First Anniversary First Post Combo Breaker
    Forumite
    Lurking , I feel same, also a single buyer 2nd time in 30yrs so this may as well be first time as things have changed so much. I do worry about is it the right move etc but once in Im sure it will be fine fingers crossed. I will be paying a bit more on mortgage and worry about job etc, but I tell myself I would have same worry if stayed where I am paying mortgage. I am just waiting to exchange now so hoping for 4-6 weeks maybe. My buyers are ready & eager to get in and I know my vendor has no chain but solicitor told me they are just waiting to tie a couple things up, not sure what as all paperwork is done I believe, then we can exchange. Good luck all x x
  • hashtagyolo
    hashtagyolo Posts: 18 Forumite
    Weird they removed the exchange thread but left the mortgage offer thread? o-o

    30/6/17: DIP given from Aldermore
    30/6/17: Offer accepted on property
    03/7/17: Mortgage Application accepted and survey paid for..
    11/7/17: Valuation Completed
    12/7/17: Call from Aldermore to confirm details..
    13/7/17: Mortgage offer issued!!
    13/7/17: Searches Paid
    27/7/17: Environmental search returned, No issues.
  • Lurking & others, I am another one buying on my own and wondering if I am making a big mistake.

    The survey found a few things I had to get investigated, but the vendor isn't going to reduce the price. A house in the next street has just come on, and I'm wishing I'd waited instead of making an offer on the one I am buying :(

    I am worrying about a tree in the front garden of all things, even though I obviously knew it was there, it was only when the survey pointed out that it had the potential to affect the house that I started thinking worst case scenarios - what if it falls on to the house when it's windy :eek:
  • sukavi2011
    sukavi2011 Posts: 72
    First Anniversary First Post Combo Breaker
    Forumite
    amateur, you may possibly thinking too much into it. I think surveys show up every single potential threat that can cause probs. Its up to you if you want to let it worry you. My buyers queried fact I could be in flood risk area but in my 30yrs here there's been no flooding. They dont say it is affecting the house only the fact it could do, so could a tree in neighbouring properties or so many other things. You can drive yourself mad thinking worse of everything. Good luck xx
  • Sukavi this is why my dad inspected the house and then told me he was happy with it (works in building trade) and said not to worry about getting a survey.

    Amateur I'm like you, worrying about everything! I wasn't worried at all. It's not my dream house but it's my first house and a good size and location and has potential.

    However the vendor filled in some forms wrong which meant I thought there were major issues with the house (cesspit) that apparently there isn't. Dealing with that has really knocked my confidence and makes me wonder if they are lying or if it was a genuine mistake.

    Makes me wonder if I should get a survey but at this stage I feel like it would make the vendor go ape!

    Then there's a right of way because it's an end of terrace that we are currently trying to get more details on, and the neighbours are selling so I have no clue who will be using that RoW when I move... in principle I have no issue with it but eurgh. What if I end up next door to horrible people!

    Basically if I can over think it, I am.

    And if one more so called friend sends me a daily mail article on property crashes I'm going to scream! ��
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