Is anyone moving now?
Discussion
gmaz said:
Having completed a month ago and paid £13K in stamp duty, I'm f**king livid at this incompetent so-called government.
I'm also p***ed off at the property management company where my late father's house is, that we are selling. 4 weeks with no response to emails or phone calls and then we get a message that its £400 for them to send us a information pack for the buyer. Meanwhile the buyer chain is a breaking point.
rant over. wine o'clock.
The more I read about property management companies the more I wonder if I spent 2000~2018 living in a paralell universe.I'm also p***ed off at the property management company where my late father's house is, that we are selling. 4 weeks with no response to emails or phone calls and then we get a message that its £400 for them to send us a information pack for the buyer. Meanwhile the buyer chain is a breaking point.
rant over. wine o'clock.
The property management company for the flat I was living in were simply amazing to deal with, when I phoned them up for the sellers information pack they asked for my solicitors contact details and I think the solicitors had the pack via email before the money had left my account!
bad company said:
edc said:
bad company said:
Does anyone know what happens with the deposit on exchange of contracts. It’s 10% so £65,000 for me which is more than I’m carrying in my back pocket at the moment. Does that get paid from the deposit paid by our purchaser?
I haven’t moved for several years.
Basically yes. If you are selling then the deposit gets passed up the chain. I haven’t moved for several years.
Just checking ...
Flooble said:
bad company said:
edc said:
bad company said:
Does anyone know what happens with the deposit on exchange of contracts. It’s 10% so £65,000 for me which is more than I’m carrying in my back pocket at the moment. Does that get paid from the deposit paid by our purchaser?
I haven’t moved for several years.
Basically yes. If you are selling then the deposit gets passed up the chain. I haven’t moved for several years.
Just checking ...
It’s not set in stone, it’s what you are happy or your seller is happy to proceed with.
C70R said:
Stamp Duty cut is really interesting.
MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
We are in the process of doing the same, in the East of England though.MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
Is it your first Airbnb, any tips?
gmaz said:
Having completed a month ago and paid £13K in stamp duty, I'm f**king livid at this incompetent so-called government.
I'm also p***ed off at the property management company where my late father's house is, that we are selling. 4 weeks with no response to emails or phone calls and then we get a message that its £400 for them to send us a information pack for the buyer. Meanwhile the buyer chain is a breaking point.
rant over. wine o'clock.
It feels rubbish but don’t forget that if you had bought longer ago you would maybe have paid none, it’s only the timing that makes it feel worse. Not sure why it makes the govt incompetent? Is it because they didn’t warn you of their plans?I'm also p***ed off at the property management company where my late father's house is, that we are selling. 4 weeks with no response to emails or phone calls and then we get a message that its £400 for them to send us a information pack for the buyer. Meanwhile the buyer chain is a breaking point.
rant over. wine o'clock.
We move to a new build in January. Being in scotland the tax on the new place is currently £4100 more expensive than England. Hopefully something changes with our tax rate on property.
We go on the market in a week or so hoping the market which is still pretty good for family homes here in Edinburgh continues for a bit longer!
.
We go on the market in a week or so hoping the market which is still pretty good for family homes here in Edinburgh continues for a bit longer!
.
Just reading some of the stories on here and remembered something that made life much easier for us - we had the phone numbers of the people above and below us in the chain and used text messaging /WhatsApp to keep in touch. I’m not entirely sure things would have moved quicker without that (and it got our hopes up that exchange was imminent more than once) but it certainly made us feel better that we could check where things were and negotiate completion dates without having to wait for an entire chains worth of &@&) solicitors who would have taken weeks.
Just stick a note through the letterbox and take it from there. You don’t have to (and it probably helps not to) become best buddies before exchange!
Just stick a note through the letterbox and take it from there. You don’t have to (and it probably helps not to) become best buddies before exchange!
Tango13 said:
The more I read about property management companies the more I wonder if I spent 2000~2018 living in a paralell universe.
The property management company for the flat I was living in were simply amazing to deal with, when I phoned them up for the sellers information pack they asked for my solicitors contact details and I think the solicitors had the pack via email before the money had left my account!
I am having that pain at the moment with a management company. Not only do they want £400 for the privilege they also take 30 working days to issue it out. How hard can it be to email a pack, they must have been 10 houses sold on our estate in the last 6 months🤬. Absolutely hateful organisation!! The property management company for the flat I was living in were simply amazing to deal with, when I phoned them up for the sellers information pack they asked for my solicitors contact details and I think the solicitors had the pack via email before the money had left my account!
Seventyseven7 said:
C70R said:
Stamp Duty cut is really interesting.
MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
We are in the process of doing the same, in the East of England though.MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
Is it your first Airbnb, any tips?
not only does it push up prices, last time round, buyers were willing to pay £10k-£15k more when enticed by £5k stamp duty savings,
but this policy encourages more airbnb which then leaves less houses for living in so less housing stock with same demand i.e. people still want to buy somewhere to live or rent somewhere to live
We concluded missives yesterday after a very painful process. We were fortunate enough to have a cash buyer at our end but on our purchase we had to deal with a nightmare vendor, his useless solicitor and a very unethical estate agent.
When we made our initial offer it was relayed to us by the EA that the vendor was very anxious and would be more comfortable if we sold via the same EA as him - we said no as we had already chosen an EA. Negotiations continued to a point where they accepted our offer but we MUST sell through his EA as "it would make the process simpler".
The more seasoned among you will probably see what's coming but bearing in mind this was several months ago and the market around here was very buoyant with houses going for silly money very quickly. We had just recently offered on a property that went to sealed bids and were 4th out of 11 bids. The winning bid being in the region of 200k over valuation.
So, as much as it angered us we relented and agreed to sell via his EA to keep the old boy happy (80+, recently lost wife, downsizing).
As a courtesy I contacted the EA I had previously told verbally I would selling with the situation and apologised. Her response was along the lines of "you have no idea how many times I have heard this, let me get back to you.."
It so happens that the vendor was also looking for properties via my preferred EA therefore she had his contact details. She rung him up and he was mortified that his EA had told us that, it never came from him and we were free to sell with whatever EA we like.
Barely out the blocks and already the stress levels are increasing having to deal with this s
t. I'm offshore at this point on 6 til 6 nightshift so my wife is having to deal with this. She confronts the EA who point blank deny they told our solicitor that we must sell with them. I guess our solicitor made it up then. My wife tells them well no longer be selling with them, they say "OK" and hang up. They know they've been caught.
I chat more with the EA whom I had initially chosen and she informs me that her director used to work for the EA in question and it was these practices that forced her out on her own. Not only were they trying to tie up as much of the chain as they could get their hands on, by lieing, but they had in the past not forwarded bids to their clients from prospective buyers who didn't agree to sell through them. In the particular case she relayed to me the highest offer was withheld from their own client because the prospective buyer wouldn't agree to sell with them. He later found out he lost out on 30k.
I guess this sort of thing is rife but that was just the beginning. It was hell from start to finish but that's maybe for another post. We only got there yesterday by issuing a deadline for QA otherwise we were pulling out, given the proposed entry date is now only one week away and we were still in limbo with our buyer wondering what was going on and ready to pull the plug.
I feel for anyone going through similar nonsense, it isn't fun. In fact I don't think I realised just how much of an impact it had on me until it was done. My wife said I'm like a new man and I can definitely feel that a weight has lifted.
The property we have bought is a mid 80s built L shaped bungalow, it's not much of a looker and needs modernisation throughout but has great potential.
The kicker for this place was the plot, that's what really sold it to us. Around an acre in total, really mature, lots of trees, tree lined drive. Our little one is two now so it was bought very much with him in mind; plenty of space to play around in and for dad to build tree houses and have him on my knee driving around on the ride-on.
We have a few quid sat aside to put on a kitchen extension of around 6 x 4 or 6 x 5m with full width bifolds to look out over the garden. We'd also like to extend into the roof space with maybe a master ensuite and additional bedroom. But, I think the headroom up there might be a bit too tight without raising the roof which will probably push that idea out of budget range for several years given every penny will be required over the next 3-5 years to get this place fully renovated and extended. The hard work begins now.
When we made our initial offer it was relayed to us by the EA that the vendor was very anxious and would be more comfortable if we sold via the same EA as him - we said no as we had already chosen an EA. Negotiations continued to a point where they accepted our offer but we MUST sell through his EA as "it would make the process simpler".
The more seasoned among you will probably see what's coming but bearing in mind this was several months ago and the market around here was very buoyant with houses going for silly money very quickly. We had just recently offered on a property that went to sealed bids and were 4th out of 11 bids. The winning bid being in the region of 200k over valuation.
So, as much as it angered us we relented and agreed to sell via his EA to keep the old boy happy (80+, recently lost wife, downsizing).
As a courtesy I contacted the EA I had previously told verbally I would selling with the situation and apologised. Her response was along the lines of "you have no idea how many times I have heard this, let me get back to you.."
It so happens that the vendor was also looking for properties via my preferred EA therefore she had his contact details. She rung him up and he was mortified that his EA had told us that, it never came from him and we were free to sell with whatever EA we like.
Barely out the blocks and already the stress levels are increasing having to deal with this s
t. I'm offshore at this point on 6 til 6 nightshift so my wife is having to deal with this. She confronts the EA who point blank deny they told our solicitor that we must sell with them. I guess our solicitor made it up then. My wife tells them well no longer be selling with them, they say "OK" and hang up. They know they've been caught.I chat more with the EA whom I had initially chosen and she informs me that her director used to work for the EA in question and it was these practices that forced her out on her own. Not only were they trying to tie up as much of the chain as they could get their hands on, by lieing, but they had in the past not forwarded bids to their clients from prospective buyers who didn't agree to sell through them. In the particular case she relayed to me the highest offer was withheld from their own client because the prospective buyer wouldn't agree to sell with them. He later found out he lost out on 30k.
I guess this sort of thing is rife but that was just the beginning. It was hell from start to finish but that's maybe for another post. We only got there yesterday by issuing a deadline for QA otherwise we were pulling out, given the proposed entry date is now only one week away and we were still in limbo with our buyer wondering what was going on and ready to pull the plug.
I feel for anyone going through similar nonsense, it isn't fun. In fact I don't think I realised just how much of an impact it had on me until it was done. My wife said I'm like a new man and I can definitely feel that a weight has lifted.
The property we have bought is a mid 80s built L shaped bungalow, it's not much of a looker and needs modernisation throughout but has great potential.
The kicker for this place was the plot, that's what really sold it to us. Around an acre in total, really mature, lots of trees, tree lined drive. Our little one is two now so it was bought very much with him in mind; plenty of space to play around in and for dad to build tree houses and have him on my knee driving around on the ride-on.
We have a few quid sat aside to put on a kitchen extension of around 6 x 4 or 6 x 5m with full width bifolds to look out over the garden. We'd also like to extend into the roof space with maybe a master ensuite and additional bedroom. But, I think the headroom up there might be a bit too tight without raising the roof which will probably push that idea out of budget range for several years given every penny will be required over the next 3-5 years to get this place fully renovated and extended. The hard work begins now.
Seventyseven7 said:
C70R said:
Stamp Duty cut is really interesting.
MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
We are in the process of doing the same, in the East of England though.MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
Is it your first Airbnb, any tips?
We'd originally just planned to buy a place as a holiday home, as MrsC and I are getting more into remote working and want to reduce the time we spend in London. But running some fag-packet maths suggested that, even with a modest Airbnb income, we could make it work a bit harder for us.
We're in the market for something like this, that has tourist appeal for walking and whisky, but can also serve as a good base for us to enjoy the same without being in the middle of a town. The hard part is balancing the desire to have something more rural with the need to have it managed/cleaned/maintained. A tricky one.
https://www.rightmove.co.uk/properties/85689831
The house I've just bought is in North Norfolk if I can be of any help with your current search. Asking prices in desirable areas here are still silly, and good property doesn't seem to be hanging around for long.
Edited by C70R on Saturday 24th September 07:36
C70R said:
Seventyseven7 said:
C70R said:
Stamp Duty cut is really interesting.
MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
We are in the process of doing the same, in the East of England though.MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
Is it your first Airbnb, any tips?
We'd originally just planned to buy a place as a holiday home, as MrsC and I are getting more into remote working and want to reduce the time we spend in London. But running some fag-packet maths suggested that, even with a modest Airbnb income, we could make it work a bit harder for us.
We're in the market for something like this, that has tourist appeal for walking and whisky, but can also serve as a good base for us to enjoy the same without being in the middle of a town. The hard part is balancing the desire to have something more rural with the need to have it managed/cleaned/maintained. A tricky one.
https://www.rightmove.co.uk/properties/85689831
The house I've just bought is in North Norfolk if I can be of any help with your current search. Asking prices in desirable areas here are still silly, and good property doesn't seem to be hanging around for long.
Edited by C70R on Saturday 24th September 07:36
SunsetZed said:
C70R said:
Seventyseven7 said:
C70R said:
Stamp Duty cut is really interesting.
MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
We are in the process of doing the same, in the East of England though.MrsC and I had been planning to buy an Airbnb let in the next 6mths or so (that we could occasionally use ourselves), and were tossing up between Scotland or France. This has probably tipped us towards Scotland.
Any word on how long it's expected to last?
Is it your first Airbnb, any tips?
We'd originally just planned to buy a place as a holiday home, as MrsC and I are getting more into remote working and want to reduce the time we spend in London. But running some fag-packet maths suggested that, even with a modest Airbnb income, we could make it work a bit harder for us.
We're in the market for something like this, that has tourist appeal for walking and whisky, but can also serve as a good base for us to enjoy the same without being in the middle of a town. The hard part is balancing the desire to have something more rural with the need to have it managed/cleaned/maintained. A tricky one.
https://www.rightmove.co.uk/properties/85689831
The house I've just bought is in North Norfolk if I can be of any help with your current search. Asking prices in desirable areas here are still silly, and good property doesn't seem to be hanging around for long.
Edited by C70R on Saturday 24th September 07:36
ToNyC1 said:
Tango13 said:
The more I read about property management companies the more I wonder if I spent 2000~2018 living in a paralell universe.
The property management company for the flat I was living in were simply amazing to deal with, when I phoned them up for the sellers information pack they asked for my solicitors contact details and I think the solicitors had the pack via email before the money had left my account!
I am having that pain at the moment with a management company. Not only do they want £400 for the privilege they also take 30 working days to issue it out. How hard can it be to email a pack, they must have been 10 houses sold on our estate in the last 6 months??. Absolutely hateful organisation!! The property management company for the flat I was living in were simply amazing to deal with, when I phoned them up for the sellers information pack they asked for my solicitors contact details and I think the solicitors had the pack via email before the money had left my account!
ToNyC1 said:
Tango13 said:
The more I read about property management companies the more I wonder if I spent 2000~2018 living in a paralell universe.
The property management company for the flat I was living in were simply amazing to deal with, when I phoned them up for the sellers information pack they asked for my solicitors contact details and I think the solicitors had the pack via email before the money had left my account!
I am having that pain at the moment with a management company. Not only do they want £400 for the privilege they also take 30 working days to issue it out. How hard can it be to email a pack, they must have been 10 houses sold on our estate in the last 6 months??. Absolutely hateful organisation!! The property management company for the flat I was living in were simply amazing to deal with, when I phoned them up for the sellers information pack they asked for my solicitors contact details and I think the solicitors had the pack via email before the money had left my account!
2 days - £500
5 days - £400
15 days - £360.
Da Original Whyayedee said:
We didn't exchange on Friday as my solicitor couldn't get hold of the sellers solicitor, beggars belief sometimes this industry.
Our buyers solicitor asked for copies of listed building permission and planning consent for our c500 year old inglenook fireplace. I’m meant to be buying a new apartment - there’s 11 apartments in total. On the q and a’s my solicitor asked how many of the units have been sold, the developer responded that “all 11 apartments are nearing completion”. I was surprised by this so asked a friend to phone the estate to enquire about availability- 8 are still available. That means the same 3 as before summer remain sold but no others. This concerns me on numerous points especially as share of freehold is transferred on the completion of the final unit. What happens if the (small) developer goes pop?
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