Offer accepted!

Author
Discussion

AndStilliRise

Original Poster:

2,295 posts

116 months

Wednesday 10th February 2016
quotequote all
Right then now to find the money!

KTF

9,802 posts

150 months

Wednesday 10th February 2016
quotequote all
Shouldn't the money be lined up before you put the offer in wink

FrankAbagnale

1,701 posts

112 months

Wednesday 10th February 2016
quotequote all
AndStilliRise said:
Right then now to find the money!
Congrats.

Pick a good solicitor. I'd avoid the large faceless companies personally.

AndStilliRise

Original Poster:

2,295 posts

116 months

Wednesday 10th February 2016
quotequote all
It's gonna be a stretch and then some but might be worth the risk. I guess time will tell.

regards solicitors we have a family one which we use so should be ok.

HotJambalaya

2,025 posts

180 months

Wednesday 10th February 2016
quotequote all
FrankAbagnale said:
Pick a good solicitor.
This x1000. Against my inkling, I used my old solicitor who's been having a few problems recently over a new one that came highly recommended, partly because I'd used him to purchase the property I am now selling, and partly because he was half the price of the new one. Three months and 3 lots of mortgage payments later, I'm still waiting.

Pay properly pay once, try and skimp, get an idiot and get done...

Rich_W

12,548 posts

212 months

Wednesday 10th February 2016
quotequote all
Congratulations

The biggest stress when buying or selling is ENTIRELY down to the Conveyancers!

Whether it's your one not chasing the other side. Or the other side delaying for some reason or another. Even Estate Agents seems efficient and organised in comparison!

It'll be worth it in the long run though.

matty g

231 posts

198 months

Wednesday 10th February 2016
quotequote all
AndStilliRise said:
Right then now to find the money!
Sarnie can help with that

AndStilliRise

Original Poster:

2,295 posts

116 months

Wednesday 10th February 2016
quotequote all
matty g said:
AndStilliRise said:
Right then now to find the money!
Sarnie can help with that
Sarnie is on the case. Without him I would be not even be close.

Dave_ST220

10,293 posts

205 months

Thursday 11th February 2016
quotequote all
AndStilliRise said:
Right then now to find the money!
Surely you have an AIP?

AndStilliRise

Original Poster:

2,295 posts

116 months

Thursday 11th February 2016
quotequote all
Dave_ST220 said:
AndStilliRise said:
Right then now to find the money!
Surely you have an AIP?
Yes.

Sixpackpert

4,556 posts

214 months

Thursday 11th February 2016
quotequote all
Good luck, just remember nothing is final until everything is signed and you have the key. Our last move we had offers accepted only to be withdrawn after 4 or 5 weeks...twice.

Never moving again!

8-P

2,758 posts

260 months

Thursday 11th February 2016
quotequote all
Sixpackpert said:
Good luck, just remember nothing is final until everything is signed and you have the key. Our last move we had offers accepted only to be withdrawn after 4 or 5 weeks...twice.

Never moving again!
I said that too, same thing happened to us, it all started so well too. But now Im in and wishing I had about 2 months holiday spare to fix the place and much bigger wallet

davek_964

8,804 posts

175 months

Thursday 11th February 2016
quotequote all
8-P said:
Sixpackpert said:
Good luck, just remember nothing is final until everything is signed and you have the key. Our last move we had offers accepted only to be withdrawn after 4 or 5 weeks...twice.

Never moving again!
I said that too, same thing happened to us, it all started so well too. But now Im in and wishing I had about 2 months holiday spare to fix the place and much bigger wallet
This is definitely something to remember, particularly if you are a first time buyer. I know a couple who are looking to buy who had an offer accepted about 5 months ago. A month or so later, the chain collapsed - but because they liked the house, they waited for a new chain. That still hasn't happened, so they are starting to look again - but finding that there is now "nothing around in their price range" - which is likely because the kind of house they wanted is no longer in their price range 6 months later. Their mortgage approval will time out shortly, and even if the chain does get sorted on the house they wanted - it's entirely likely that their sellers will now be having to pay more for their new house, which means that they'll figure their own house is worth a bit more due to it being 6 months later - and as first time buyers that were already stretching, it's likely this couple will be priced out.

DEFINITELY keep your options open, and if you start getting any hints that your chain is stuck or collapsing, it does no harm to be viewing other houses just in case.

Sixpackpert

4,556 posts

214 months

Thursday 11th February 2016
quotequote all
davek_964 said:
8-P said:
Sixpackpert said:
Good luck, just remember nothing is final until everything is signed and you have the key. Our last move we had offers accepted only to be withdrawn after 4 or 5 weeks...twice.

Never moving again!
I said that too, same thing happened to us, it all started so well too. But now Im in and wishing I had about 2 months holiday spare to fix the place and much bigger wallet
This is definitely something to remember, particularly if you are a first time buyer. I know a couple who are looking to buy who had an offer accepted about 5 months ago. A month or so later, the chain collapsed - but because they liked the house, they waited for a new chain. That still hasn't happened, so they are starting to look again - but finding that there is now "nothing around in their price range" - which is likely because the kind of house they wanted is no longer in their price range 6 months later. Their mortgage approval will time out shortly, and even if the chain does get sorted on the house they wanted - it's entirely likely that their sellers will now be having to pay more for their new house, which means that they'll figure their own house is worth a bit more due to it being 6 months later - and as first time buyers that were already stretching, it's likely this couple will be priced out.

DEFINITELY keep your options open, and if you start getting any hints that your chain is stuck or collapsing, it does no harm to be viewing other houses just in case.
The first house was our dream house. They accepted our offer. They then accepted a higher offer after 3 months and wouldn't accept any other offers from us as their new offer was chain free.

The second house. They accepted our offer. After 9 weeks they still hadn't got a solicitor because "we haven't found a property to go to and until we do we will not engage a solicitor".

At this point we were 1 week away from completing.

We then received a call from the estate agents of the first house. The deal had fallen through and were we interested? Yes we were but it was on our terms now. We completed the next day on our sale and moved (me, wife and 2 year old!) into my parents place for a month while the deal was done on the new place.

Much stress but we did end up with our first choice. And a year on I haven't seen anything else on the market that catches my eye.

Pints

18,444 posts

194 months

Thursday 11th February 2016
quotequote all
HotJambalaya said:
FrankAbagnale said:
Pick a good solicitor.
This x1000. Against my inkling, I used my old solicitor who's been having a few problems recently over a new one that came highly recommended, partly because I'd used him to purchase the property I am now selling, and partly because he was half the price of the new one. Three months and 3 lots of mortgage payments later, I'm still waiting.

Pay properly pay once, try and skimp, get an idiot and get done...
yes
The buyers of our house used the "free" solicitor which came with their mortgage provider's offer. You could tell.

Patch1875

4,894 posts

132 months

Thursday 11th February 2016
quotequote all
We sold ours last Thursday they pulled out on Tuesdayfurious

8-P

2,758 posts

260 months

Thursday 11th February 2016
quotequote all
davek_964 said:
This is definitely something to remember, particularly if you are a first time buyer. I know a couple who are looking to buy who had an offer accepted about 5 months ago. A month or so later, the chain collapsed - but because they liked the house, they waited for a new chain. That still hasn't happened, so they are starting to look again - but finding that there is now "nothing around in their price range" - which is likely because the kind of house they wanted is no longer in their price range 6 months later. Their mortgage approval will time out shortly, and even if the chain does get sorted on the house they wanted - it's entirely likely that their sellers will now be having to pay more for their new house, which means that they'll figure their own house is worth a bit more due to it being 6 months later - and as first time buyers that were already stretching, it's likely this couple will be priced out.

DEFINITELY keep your options open, and if you start getting any hints that your chain is stuck or collapsing, it does no harm to be viewing other houses just in case.
Familiar. Sold, bought, 3 weeks later got dropped. Ended up buying a property where the chain was collapsing. It was valued up in May, completed end of Nov. It was priced competitively because they were desperate to move but by November it was probably £50K under market value. So I was happy with that, but my mortgage product Id paid a grand for was due to expire 2 weeks after we completed so really had to do it. I couldnt afford my house now if it came on the market, simple, sometimes timing really is important.

AndStilliRise

Original Poster:

2,295 posts

116 months

Monday 15th February 2016
quotequote all
Family solicitor has retired!

Anyone got anyone good? I am hoping that the searches are included, no fee unless completion and a low legal fees.


KTF

9,802 posts

150 months

Monday 15th February 2016
quotequote all
AndStilliRise said:
Family solicitor has retired!

Anyone got anyone good? I am hoping that the searches are included, no fee unless completion and a low legal fees.
Do you want someone local to you - if so where is that - or just recommendations in general?

AndStilliRise

Original Poster:

2,295 posts

116 months

Monday 15th February 2016
quotequote all
KTF said:
AndStilliRise said:
Family solicitor has retired!

Anyone got anyone good? I am hoping that the searches are included, no fee unless completion and a low legal fees.
Do you want someone local to you - if so where is that - or just recommendations in general?
I don't mind in all honesty. Someone who is good and not anyone who is going to rip me off. Thanks.