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  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,515Posts
    • 9,224Thanks
    happytails
    The NEW waiting to exchange thread...
    • #1
    • 27th Jul 17, 5:20 PM
    The NEW waiting to exchange thread... 27th Jul 17 at 5:20 PM
    So the other thread has gone awol so thought i'd start a new one! It was keeping me sort of sane during the house buying/selling process!

    A place to document your timelines and discuss the triumphs and woes of moving house!




    My timeline -
    Offer received and accepted on our house 17/07
    Offer made and accepted on the house we want 17/07
    Solicitors Instructed 17/07
    Meeting with mortgage advisor, all docs given 18/07
    Mortgage application submitted to Nationwide 19/07
    Documents picked up and filled in from Solicitor 19/07
    Documents and ID returned to Solcitor 20/07
    Valuation booked 20/07
    Solicitor composes draft contract & starts local searches 25/07
    Valuation carried out 26/07
    Solicitor gave us our fixtures and fittings form for purchase and requested marriage certificate 26/07
    My buyers valuation carried out 27/07
    Mortgage offer given 27/07

    Sarah

    Official MoneySavingExpert.com Insert:

    Hi all! For more help with your move read our guide:

    50+ House Buying Tips
    Last edited by MSE Andrea; 06-10-2017 at 11:50 AM.
    Sarah,

    Trying to move up the house ladder in 2018, running a business with 3 kids in tow & slowly going crazy!
    Member No43 - % Challenge
Page 152
    • TamsinC
    • By TamsinC 7th Mar 18, 6:06 PM
    • 319 Posts
    • 289 Thanks
    TamsinC
    So our building survey has come in and there are issues - issues which mean we are going to have to offer less on the house - this is pants - the work needs doing and if we don't offer less we can't do the work we want to do on the house. Nail biting time whilst we work out what to do. Seller is now wanting to exchange quickly but too much needing sorting to think about that yet.

    Time Scale so far . . . updates in bold
    Tenants asked us if they could leave house - 26/12/17
    Estate agents instructed - 31/12/17 (then a bit of bother)
    House on market - 10/1/18
    DIP from Nationwide 13/1/18
    Offer received and accepted on our house 17/1/18
    Offer made and accepted on the house we want 20/1/18
    Solicitors Instructed 17/01/18
    Documents picked up and filled in from Solicitor 17/1/18
    Documents and ID returned to Solicitor 19/1/18
    Solicitor composes draft contract & starts local searches - for selling 22/1/17 - for buying ?
    Mortgage application interview - 1/2/18 - 3 and 1/2 hours of going over and over the same stuff - still not finished - they are struggling with the fact that hubby will leave the forces in Dec and go onto a service pension - we can't say what his job or wages will be at that point and so are basing the mortgage application purely on his pension. They can't cope with that and the fact that deductions from his wages NOW won't be applicable in Dec. Head office and underwriters need to be contacted. This is making a compacted issue out of something that is not complicated.
    2nd Mortgage application interview - 8/1/18 - ANOTHER 2 hours going over the same information - they still don't get it but the application is going through.
    Basic surveys done for our purchase - 12/2/18 - nothing untoward found
    various letters and emails from our solicitors - they do seem to be on the ball though I am in contact a leasers twice a week to keep things moving forward.
    Valuation survey for mortgage - 14/2/18
    Chasing mortgage offer - 21/2/18
    Mortgage people see and approve valuation 23/2/18
    Building survey - 23/2/18 - awaiting report
    Emailed mortgage approval - 26/2/18
    Exchanged on the house we are selling 27/2/18
    Completion on house sale 2/3/18
    Chasing building survey on house we are buying 6/3/18
    Received survey 7/7/18
    • pink_pirlie
    • By pink_pirlie 7th Mar 18, 8:30 PM
    • 180 Posts
    • 113 Thanks
    pink_pirlie
    Joining this group -

    Offer accepted on our house 24th October
    Offer accepted on onward purchase 13th November
    Mortgage applied for 15th November
    Mortgage offer received 1st December.

    Told beginning of January the vendor would be looking to complete on their onward purchase w/c 19th Feb.

    Completion on our sale 26th January. Belongings into storage and we moved into temporary accommodation with my parents.

    Our Solicitor received no communication from seller s solicitor since early Jan. Chased via agent.

    5th Feb received an email from EA saying they had been assured the vendor s onward purchase was on for the end of February. This is okay, some slippage was to be expected.

    Speak with solicitor yesterday and still no update their end.

    Then out of the blue today - email from our Solicitor who had finally had an update from the vendor s solicitor that said no idea when they will be able to proceed but should be shortly;. They have not had draft contract yet. The developer is still getting plans approved.
    I am now thinking - is this house even fully built and ready to be occupied yet?!

    Sent a bunch of questions back to our solicitor and waiting for a response. Got an out of office and she will not be back until this afternoon.

    So now we are waiting and have no idea what our new timeline is. Frustrated!!

    NB Took out the random characters. I am now missing apostrophes which is bothersome.
    Originally posted by pink_pirlie


    So a bit of an update we have now found out that the vendor is not waiting for the new build and has found a new house to buy. They told literally no one involved.
    So we are back to the start with waiting.
    Waiting for contracts, searches, etc.
    Their solicitor wonít start to discuss a date on when they are hoping to exchange / complete as it is too early.

    So we are waiting patiently in temporary accommodation, racking up storage costs and when I asked the EA if the vendor would be willing to leave their washing machine they had the cheek to ask if we would be willing to make a contribution to the cost??!!

    Just hope no issues arise in this onward purchase now. Grrrrrrrrrr

    We are now wondering if it will run to mid-April when partnerís Lifetime ISA hits itís 1 year and we can use it towards the purchase. But we need to know before the end of the financial year as we wonít put this yearís full deposit in if we arenít going to be able to use it. We have already written off transferring his H2B in as HL couldnít guarantee it would be received before the end of the FY.
    • FloppyDisk
    • By FloppyDisk 8th Mar 18, 8:51 AM
    • 629 Posts
    • 4,227 Thanks
    FloppyDisk
    Fingers crossed we are in the final straits now, hoping to exchange in the next two weeks. Come on vendors, no more excuses!

    Mortgage- £415,836
    BTL- £162,782

    • Amanda_Cm
    • By Amanda_Cm 8th Mar 18, 9:07 AM
    • 166 Posts
    • 200 Thanks
    Amanda_Cm
    Oh no pink_perlie. Back to the the beginning! And living in temporary sounds awful. I will be really upset in your place.

    Floppy, no mor excuses! Hope our vendor thinks the same too.


    We are using online solicitor and I can see when there is an email or call from vendors solicitors. There is an email yesterday but I don't know what's about. Few days ago they say completion day will be 12th but have to speak with our vendors vendors solicitor.
    • rwcwilson
    • By rwcwilson 8th Mar 18, 5:58 PM
    • 45 Posts
    • 43 Thanks
    rwcwilson
    We've had our survey results back. Doesn't look too horrendous but I think we'll have to get some specialists in and renegotiate. My comments in red:

    "Urgent matters:
    1. We would recommend a full independent damp proof course and timber report is obtained to include a full inspection of the sub-floor area. (Damp meter detected positive readings in the hallway)
    2. An independent inspection of the cavity ties is recommended (No visible damage or high suspicion, seems that just because of the age of the house it would be a universal recommendation)
    3. Some maintenance work is required to the roof and all flashings to the Velux style windows should be carefully checked. (Again no visible damage, just covering !!!!)
    4. The chimneystacks and flashings require an overhaul and dis-used flues should be capped and vented. (one chimney isn't in the greatest condition apparently. It's a semi-detached house, anyway had a problem like this were it's shared with a neighbour?? We are going to be putting in a wood-burning stove and this chimney would be the one used, so may see if we can get it repaired at the same time)

    Matters requiring further investigation:
    1. The gas installation should be checked. (seems like !!!! covering)
    2. The electric installation should be checked. (again old house, so likely universal, will check with vendors if done recently, otherwise will get an electrician in)
    3. A full operational test and service of the central heating and domestic hot water is recommended. (again !!!! covering/universal, no noticeable problems)
    4. An independent inspection of the drains is recommended. (again !!!! covering/universal, no noticeable problems)
    5. The rising main should be verified and checked to ensure all lead piping has been removed.((again !!!! covering/universal, no noticeable problems))"

    In addition:
    - the potential for asbestos as there is a textured ceiling, is this really worth checking if there is no damage?? The ceiling has recently had work done to it because of a partial loft conversion which resulted in some of the ceiling being changed... would they not have picked up on it then?
    - Some minor guttering problems
    - Pointing/weathered bricks in parts of walls and on the boundary wall
    - recommendation for replasting/redecorating throughout. We didn't feel it was all that bad but I guess if it needs rewiring we can do that at the same time
    - one failed double glazed window in kitchen
    - recommended repairing some broken roof tiles/flashings
    - recommended repairing some of the timberwork around the eaves
    - 'compacted' fibre glass insulation in the loft, recommended replacing

    Otherwise minor niggles.

    What we are thinking of doing:
    -Getting an electrician in to look at the electrics
    -Getting in a damp proof and timber surveyor to look at the potential damp issues

    Not sure about the other issues, as its difficult where to draw the line...we don't want to be seen taking the mickey. Possibly a builder/roofer for the chimney, roof tiles and wooden eaves problems?
    • Tiglath
    • By Tiglath 8th Mar 18, 8:29 PM
    • 3,555 Posts
    • 11,584 Thanks
    Tiglath
    All sorted to complete on Monday, barring any last minute disasters - sale and purchase completion statements received from the solicitor. Some of the cats are going in Cats Protection pens tomorrow, Pickfords are coming Saturday to do most of our packing (leaving us a bed and pretty much nothing else till Monday), we're cleaning Sunday, rest of the packing Monday, Cats Protection collecting some more cats Monday morning and driving the lot down to Kent, and off we go to our new life with the remaining cats in our car, while the Southend contingent move with their stuff as well. It's been a military operation but worth it. We'll probably be on the motorway when the estate agent calls to say we can collect the keys. Can't believe it's actually happening after 7 months.
    Looking forward to a move to the country!
    • Amanda_Cm
    • By Amanda_Cm 8th Mar 18, 8:49 PM
    • 166 Posts
    • 200 Thanks
    Amanda_Cm
    rwcwilson, that's why I don't like surveys. They are covering their as*!!!1077;s telling you need to check everything

    Tiglath, so excited for you! I don't know how you have time to look after so many cats. I am vat lover but had 2 at one point and it was too much.

    We are not completing Monday Not ready yet. There was some emails from out vendor solicitor today. Hope for exchange next week. Will see.
    • TamsinC
    • By TamsinC 8th Mar 18, 9:18 PM
    • 319 Posts
    • 289 Thanks
    TamsinC
    We've had our survey results back. Doesn't look too horrendous but I think we'll have to get some specialists in and renegotiate. My comments in red:

    "Urgent matters:
    1. We would recommend a full independent damp proof course and timber report is obtained to include a full inspection of the sub-floor area. (Damp meter detected positive readings in the hallway)
    2. An independent inspection of the cavity ties is recommended (No visible damage or high suspicion, seems that just because of the age of the house it would be a universal recommendation)
    3. Some maintenance work is required to the roof and all flashings to the Velux style windows should be carefully checked. (Again no visible damage, just covering !!!!)
    4. The chimneystacks and flashings require an overhaul and dis-used flues should be capped and vented. (one chimney isn't in the greatest condition apparently. It's a semi-detached house, anyway had a problem like this were it's shared with a neighbour?? We are going to be putting in a wood-burning stove and this chimney would be the one used, so may see if we can get it repaired at the same time)

    Matters requiring further investigation:
    1. The gas installation should be checked. (seems like !!!! covering)
    2. The electric installation should be checked. (again old house, so likely universal, will check with vendors if done recently, otherwise will get an electrician in)
    3. A full operational test and service of the central heating and domestic hot water is recommended. (again !!!! covering/universal, no noticeable problems)
    4. An independent inspection of the drains is recommended. (again !!!! covering/universal, no noticeable problems)
    5. The rising main should be verified and checked to ensure all lead piping has been removed.((again !!!! covering/universal, no noticeable problems))"

    In addition:
    - the potential for asbestos as there is a textured ceiling, is this really worth checking if there is no damage?? The ceiling has recently had work done to it because of a partial loft conversion which resulted in some of the ceiling being changed... would they not have picked up on it then?
    - Some minor guttering problems
    - Pointing/weathered bricks in parts of walls and on the boundary wall
    - recommendation for replasting/redecorating throughout. We didn't feel it was all that bad but I guess if it needs rewiring we can do that at the same time
    - one failed double glazed window in kitchen
    - recommended repairing some broken roof tiles/flashings
    - recommended repairing some of the timberwork around the eaves
    - 'compacted' fibre glass insulation in the loft, recommended replacing

    Otherwise minor niggles.

    What we are thinking of doing:
    -Getting an electrician in to look at the electrics
    -Getting in a damp proof and timber surveyor to look at the potential damp issues

    Not sure about the other issues, as its difficult where to draw the line...we don't want to be seen taking the mickey. Possibly a builder/roofer for the chimney, roof tiles and wooden eaves problems?
    Originally posted by rwcwilson
    This sounds almost identical to ours! Hoping to get a little of the price as there is one section of roof that needs replacing.

    If the house is old look at whether modern damp proofing methods are suitable - we are buying a solid stone walled house - needs lime render and lime plaster and the ability to breathe not a modern chemical damp course. Google rising damp and see the myth behind this.
    • happytails
    • By happytails 8th Mar 18, 10:22 PM
    • 1,515 Posts
    • 9,224 Thanks
    happytails
    I'm here ! :)
    Hi Slinky and Fisa,

    Just popped over after Fisa mentioned people were wondering about my situation over from Mortgages sub forum

    In it for the long haul it seems. Back to August when our sale fell through, we kept property on the market a further 7 weeks and then removed it. A lot of discussion later we decided to remortgage, release equity and do the house up. Will aim to sell again this year. In September, the owner of the house we wanted also took hers off the market temporarily for 6 months. In October we try to obtain a mortgage but the underwriters declined us due to going over our overdraft accidentally in September. This meant a 3 month wait to be able to produce 3 months clear bank statements. Roll on to February we get back in touch with our mortgage advisor who sets it in motion for a remortgage with Virgin. Valaution is tomorrow! The house we want is now back on the market - however im more relaxed at the moment - what will be will be!

    Our aim is to replace the roof, soffits & faschias, flat roof, totally re render the exterior of house and do the driveway/front of house with paving. Inside will see new budget carpet throughout upstairs, service of the boiler, some minor cosmetic repairs & another good declutter we are also paying off £10000 worth of debt too so its a good move even if we dont manage to sell this year.

    Hopefully I will be back on here in no time *crosses fingers and toes*

    Sarah
    Sarah,

    Trying to move up the house ladder in 2018, running a business with 3 kids in tow & slowly going crazy!
    Member No43 - % Challenge
    • treeny_bash
    • By treeny_bash 9th Mar 18, 11:32 AM
    • 160 Posts
    • 1,036 Thanks
    treeny_bash
    I'm very very angry today.

    Got an email from the solicitor yesterday saying that they've received answers to all the enquiries, but there is no covenant consent for the extension that the vendors built 9 years ago. Also, the vendors are going to pull out if we don't complete by 21 March. This is clearly meant to bully us into accepting that the consent is missing, but it's a severe miscalculation on their part. They've angered us so much that we're tempted at this stage to walk away regardless. We are 100% not buying a house with an extension that someone could ask us to pull down, that would devalue the property massively.

    We've spoken to the covenant holders who confirmed that retrospective consent would cost 100 pounds and only take a couple of days to grant. But the property was leasehold at the time the extension was built, so we're assuming the leaseholder didn't give consent either. We would need both before we were happy.

    The vendor has already moved out, so he is currently in possession of 2 houses, presumably with mortgages on both. We're FTB in rented accommodation and no deadline to move. We are in the stronger position here. If we did walk away we'd lose the £425 for the home buyers survey and the solicitors fees (about £1k). Pocket change compared to the risk of taking on this place.

    Waiting for the solicitors to call us this afternoon to discuss. But could be back to the drawing board. I've had a little look on rightmove and there's options there, so it could all be for the best.
    • pink_pirlie
    • By pink_pirlie 9th Mar 18, 11:42 AM
    • 180 Posts
    • 113 Thanks
    pink_pirlie
    But could be back to the drawing board. I've had a little look on rightmove and there's options there, so it could all be for the best.
    Originally posted by treeny_bash
    Sometimes what happens is for the best. I almost bought a house with structural issues and EA tried to bully me into continuing. Iím so glad I didnít continue as I ended up with a lovely house which was more perfect than the one I lost.

    Hope everything works out Happytails

    Good luck to all those still waiting.

    I havenít heard anything new since last week but wasnít expecting to given poor communication to date.
    • Amanda_Cm
    • By Amanda_Cm 9th Mar 18, 11:47 AM
    • 166 Posts
    • 200 Thanks
    Amanda_Cm
    Just had a call from EA saying we are def no completing on 12th. There is a negative equity problem on the house our vendor is buying. Now they are waiting on redemption certificate next week.
    So what will happen if they don't have the extra money to pay of the mortgage? Our little chain will collaps?
    • TamsinC
    • By TamsinC 9th Mar 18, 11:49 AM
    • 319 Posts
    • 289 Thanks
    TamsinC

    Waiting for the solicitors to call us this afternoon to discuss. But could be back to the drawing board. I've had a little look on rightmove and there's options there, so it could all be for the best.
    Originally posted by treeny_bash
    If it's not right, it's not right - and in this case I personally would walk away unless they got the certification etc - better 1.5K out than in a house you might need to pull down the extension on.
    • vicki2221
    • By vicki2221 9th Mar 18, 12:12 PM
    • 65 Posts
    • 283 Thanks
    vicki2221
    Today we've received and returned contract from our buyer's solicitor and we signed and returned the contract for our purchase weeks ago. All inquires, searches and mortgage offers have been done on all sides. So I assume we can now talk about actually exchanging? How long after contracts signed and received back at solicitors do people actually exchange? There is nothing else to do so I am hoping we can just exchange NOW, it seems like we've been waiting forever.
    Save £12k in 2018 #130 - £1200/£7,000
    • Amanda_Cm
    • By Amanda_Cm 9th Mar 18, 12:14 PM
    • 166 Posts
    • 200 Thanks
    Amanda_Cm
    The house we buy is also with extension without paperwork but our vendor claims he bought it that way in 2000.
    I though extension can be pull down only if build no more than 4 years ago. So 9 years should be safe.
    • Amanda_Cm
    • By Amanda_Cm 9th Mar 18, 12:15 PM
    • 166 Posts
    • 200 Thanks
    Amanda_Cm
    Vicky, we sign the contracts in the end of January and still waiting to exchange. Hope is sooner for you.
    • T90FER
    • By T90FER 9th Mar 18, 2:06 PM
    • 7 Posts
    • 7 Thanks
    T90FER
    Afternoon all, new to this forum but been reading for the past few weeks and thought I would add our situation

    24/1 - Current House Marketed
    25/1 - Offer Accepted (Full Asking) FTB
    6/2 - Offer Submitted on New Property (Previously marketed, chain collapsed)
    6/2 - Offer Accepted
    6/2 - Survey done on our current property
    7/2 - Offer on New Property retracted, previous chain reinstated
    13/2 - Offer submitted on alternative new property
    13/2 - Offer Accepted, documents taken to EA
    13/2 - Solicitor Instructed
    15/2 - Draft contract issued to buyers solicitors
    16/2 - Mortgage Applictaed Submitted
    20/2 - Valuation carried out on new property
    22/2 - Morgage Offer received
    2/3 - Draft contracts received for new property
    5/3 - Searches requested

    (I also know our buyers also have 2/4 searches returned and their mortgage offer)

    Hoping to be in during April??
    Things are moving quickly, just not quickly enough - think we all get impaitient

    Chris
    • T90FER
    • By T90FER 9th Mar 18, 2:08 PM
    • 7 Posts
    • 7 Thanks
    T90FER
    Also to add, No Upward Chain
    • TamsinC
    • By TamsinC 9th Mar 18, 2:44 PM
    • 319 Posts
    • 289 Thanks
    TamsinC
    So have had so chats with the vendor - who also happens to work in the building industry and isa fronted by what the surveyor 'found' - honestly I think these surveys are license to print money when recommending extra unneeded surveys. The rising damp myth is a real con in many older houses - DCMs and concrete render are actually detrimental to houses and keep damp in the house! Anyway £10K off the price in return for a big push for a quick exchange and completion (vendor wanted) SO now a happy vendor who I think was probably worrying himself silly over us asking for a much bigger discount. Just waiting on a couple of things and then should be ready to go.




    Time Scale so far . . . updates in bold
    Tenants asked us if they could leave house - 26/12/17
    Estate agents instructed - 31/12/17 (then a bit of bother)
    House on market - 10/1/18
    DIP from Nationwide 13/1/18
    Offer received and accepted on our house 17/1/18
    Offer made and accepted on the house we want 20/1/18
    Solicitors Instructed 17/01/18
    Documents picked up and filled in from Solicitor 17/1/18
    Documents and ID returned to Solicitor 19/1/18
    Solicitor composes draft contract & starts local searches - for selling 22/1/17 - for buying ?
    Mortgage application interview - 1/2/18 - 3 and 1/2 hours of going over and over the same stuff - still not finished - they are struggling with the fact that hubby will leave the forces in Dec and go onto a service pension - we can't say what his job or wages will be at that point and so are basing the mortgage application purely on his pension. They can't cope with that and the fact that deductions from his wages NOW won't be applicable in Dec. Head office and underwriters need to be contacted. This is making a compacted issue out of something that is not complicated.
    2nd Mortgage application interview - 8/1/18 - ANOTHER 2 hours going over the same information - they still don't get it but the application is going through.
    Basic surveys done for our purchase - 12/2/18 - nothing untoward found
    various letters and emails from our solicitors - they do seem to be on the ball though I am in contact a leasers twice a week to keep things moving forward.
    Valuation survey for mortgage - 14/2/18
    Chasing mortgage offer - 21/2/18
    Mortgage people see and approve valuation 23/2/18
    Building survey - 23/2/18 - awaiting report
    Emailed mortgage approval - 26/2/18
    Exchanged on the house we are selling 27/2/18
    Completion on house sale 2/3/18
    Chasing building survey on house we are buying 6/3/18
    Received survey 7/7/18
    negotiated a £10K discount
    • Tiglath
    • By Tiglath 9th Mar 18, 5:44 PM
    • 3,555 Posts
    • 11,584 Thanks
    Tiglath
    Today we've received and returned contract from our buyer's solicitor and we signed and returned the contract for our purchase weeks ago. All inquires, searches and mortgage offers have been done on all sides. So I assume we can now talk about actually exchanging? How long after contracts signed and received back at solicitors do people actually exchange? There is nothing else to do so I am hoping we can just exchange NOW, it seems like we've been waiting forever.
    Originally posted by vicki2221
    We signed contracts in December, exchanged in mid-February, and set a completion date for 12th March at our elderly vendor's request when we actually exchanged. We had quite a large and complex chain (either 5 or 7 parties - we never did get to the bottom of it) that looked as if it was going to collapse, but one half of the divorcing couple a couple of layers above us pulled out of a planned purchase in order to keep it intact.
    Looking forward to a move to the country!
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