Is anyone moving now?
Discussion
AlmostUseful said:
Has anybody been waiting for “the last bit of information from the...” ? We have, I think 4, maybe 5 times we’ve been waiting for the last bit of information, it’s now been received.
In theory the gangs can get together to exchange, in reality who knows what’s going to happen.
There is (I believe) a level of optimism in the chain that we should be moving probably the week after next, place your best now.
Yup, our buyers last enquiry has had more comebacks than Frank Sinatra!In theory the gangs can get together to exchange, in reality who knows what’s going to happen.
There is (I believe) a level of optimism in the chain that we should be moving probably the week after next, place your best now.
I think we have had three goes at asking them their position - each time another enquiry has emerged. I get they are protecting his interest but it’s almost like his solicitors are at their first rodeo; a couple of queries should have been made at the start of the conveyancing process; particularly when it involves an answer from local government!
Oh well. Like you everyone in the chain seems keen to get over the line ASAP, fingers crossed it stays that way!
AJB88 said:
Message off our vendor on Monday, "my solicitor is waiting for an instruction to act from your solicitor" so emailed mine, Wednesday he said all sorted its been sent etc.
Woke up from nights this afternoon, "your solicitor still hasn't sent the instruction to act", emailed them and they replied we have, so asked them to call the other firm.
feel like these solicitors need some kind of project manager over seeing them.
We have had the same, I must say my working relationship with our solicitors is very good, on the other hand I don’t believe a word of the rubbish my buyers solicitor feeds him with.Woke up from nights this afternoon, "your solicitor still hasn't sent the instruction to act", emailed them and they replied we have, so asked them to call the other firm.
feel like these solicitors need some kind of project manager over seeing them.
I was sceptical about having a direct line of communication with our buyer - I’ve done a complete 180 on that and am thankful we do text each other, been very useful to sort the wheat from the chaff, I don’t think we would be this close to exchanging if it hadn’t been for the ability to guide our buyer in the right direction with his solicitors. Along with getting a head start on instructing my solicitors of any issues they may yet to hear about.
To me it all seems a silly game for a few so called legal professionals, odd though that they play these silly games when all it does is delay when they get paid!
a311 said:
Taylor James said:
a311 said:
As someone who was (still is a bit) considering a move it's not too encouraging reading through these.
We were considering due to a particular house in our local area, but the current owner is one of these who's valued it himself and would rather leave it on the market, than entertain a 5-10% less than asking offer despite it being on the market for a year..... Starting to think it's not worth consuming mental bandwidth at present!
The last year hasn't been typical though has it? Not by a long way. Things are looking very different at the moment so I can see why the seller might stick out. We have just put a place on the market for 7.5% more than it was a year ago. A couple of people have pointed this out as if it's somehow wrong. They don't seem to understand the concept of market forces. They could have had the house last year at £X but now it's £X+7.5%. Perhaps I'm missing something and should try and pick up a couple of Sierra Cosworths and that Kensington mews house I've always fancied for what they were last advertised for a couple of years back. I'll get some Bitcoin at last year's price while I'm at it. We were considering due to a particular house in our local area, but the current owner is one of these who's valued it himself and would rather leave it on the market, than entertain a 5-10% less than asking offer despite it being on the market for a year..... Starting to think it's not worth consuming mental bandwidth at present!
If you want it, pay the man what he wants. If you don't, move on.
If you think the local market or your house has picked up by 7.5% in the last 12+ months then advertising it that would seem reasonable
In our situation, we had the same EA value ours that is marketing the house we were interested in. They pretty much said it was over priced based on the sale price of a similar(ish) property that had a queue of people wanting to view then buy. But you're right it is a case of either negotiate or move on.
I'm starting to get very tired of my lawyer.
I deal with lawyers on a pretty much daily basis, but conveyancers are a very separate bunch. She takes a day to respond to an email. No matter what. So if the Buyer/Seller's lawyers ask her a question, she won't read it for a day, then she will send me an email, she won't read my response for a day, then she will and finally respond.
So a question asked by the Buyer/Sellers sent on Monday morning won't receive a response till, at the earliest, Thursday! That is absurd.
To make matters worse, she rarely answers the question. I would have expected us to be ready for Exchange. Yet, I have nothing from her. I do not know if our Buyers are ready to Exchange. I do not know is our Sellers are ready to Exchange. I do not know if the documents that I signed are all in order.
Nothing.
I mean am i expecting too much?
I deal with lawyers on a pretty much daily basis, but conveyancers are a very separate bunch. She takes a day to respond to an email. No matter what. So if the Buyer/Seller's lawyers ask her a question, she won't read it for a day, then she will send me an email, she won't read my response for a day, then she will and finally respond.
So a question asked by the Buyer/Sellers sent on Monday morning won't receive a response till, at the earliest, Thursday! That is absurd.
To make matters worse, she rarely answers the question. I would have expected us to be ready for Exchange. Yet, I have nothing from her. I do not know if our Buyers are ready to Exchange. I do not know is our Sellers are ready to Exchange. I do not know if the documents that I signed are all in order.
Nothing.
I mean am i expecting too much?
Probably a daft question.....only bought new builds before
In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
Biggus thingus said:
Probably a daft question.....only bought new builds before
In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
Aprroximately 16 weeks ish currently...and counting.In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
Turn7 said:
Biggus thingus said:
Probably a daft question.....only bought new builds before
In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
Approximately 16 weeks ish currently...and counting.In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
SunsetZed said:
Turn7 said:
Biggus thingus said:
Probably a daft question.....only bought new builds before
In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
Approximately 16 weeks ish currently...and counting.In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
Biggus thingus said:
Probably a daft question.....only bought new builds before
In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
A week is the minimum you should consider - Covid has been used as an excuse to exchange and complete on the same day. It’s a very bad idea, the risks of a stupid demand from any buyer in the chain for a significant price reduction under the threat of pulling out is too great. In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
The idea of having the time between is to give you protection from any last minute underhand tactics; that it gives you a chance to arrange trades to start following completion is a bonus rather than the primary factor for having the gap between exchange and completion. It also allows mortgage funds to be drawn down the day before completion meaning there should be no delays on completion day.
I’ve fired off an email to our solicitors today explaining that we have March the 26th booked off (booked speculatively and with a good deal of hope and optimism!) I am ok for exchange a few days before completion but will not entertain a simultaneous exchange and complete on the same day, chat amongst the entire chain is we are all aiming for exchange this Friday (19th) and complete the following Friday (26th) I took the opportunity to remind them if the 26th is missed we will again need a minimum of a weeks notice due to work constraints and my unwillingness to entertain same day exchange/complete.
ETA - correct slightly ambiguous comment regarding arranging trades after exchange and before completion.
A good link here
https://www.herrington-carmichael.com/works-to-you...
Edited by The ArtfulBodger on Monday 15th March 21:54
Edited by The ArtfulBodger on Monday 15th March 21:55
Today, finally completed the sale of my property (East London). Nothing serious, 3 bed terrace house.
Put on the market on November and the current offer came on January, and we completed today. Less than 3 months, full asking. I had two previous offer but they both disappeared, due to finances.
Currently on temp. accommodation, all my furniture in storage, trying to sort out the new place's completion date. 50% of the stress gone at least, but good luck to everyone out there!
Put on the market on November and the current offer came on January, and we completed today. Less than 3 months, full asking. I had two previous offer but they both disappeared, due to finances.
Currently on temp. accommodation, all my furniture in storage, trying to sort out the new place's completion date. 50% of the stress gone at least, but good luck to everyone out there!
Biggus thingus said:
Probably a daft question.....only bought new builds before
In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
I don't know whether I have misunderstood what you're saying, but you do realise that the property won't necessarily be empty after exchange and before completion, and that not many owners would let you in to carry out work in that period, very risky for both parties?In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
Sorry if I have the wrong end of the stick!
CAPP0 said:
Biggus thingus said:
Probably a daft question.....only bought new builds before
In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
I don't know whether I have misunderstood what you're saying, but you do realise that the property won't necessarily be empty after exchange and before completion, and that not many owners would let you in to carry out work in that period, very risky for both parties?In the process of buying a vacant property and selling to a family that are selling to first time buyers
What the average time scale between exchange and completion?
Having a week would be handy so we could potentially get trades lined up to hit the property before moving in
thanks
Sorry if I have the wrong end of the stick!
AJB88 said:
Yeh I'm really glad the seller were buying from has direct contact, or else this could of fallen apart very quickly. So much he said she said going on .
I got a decent heads up from our buyer today, he was the first to let me know that their enquiries have now been satisfied, that their buyer is arranging for their deposit to be available and that 19th/26th are the dates we are aiming for.EA was a bit behind the curve but did actually flesh out the fact all the chain are working toward these dates.
Good lad! I’m glad I didn’t bin his note shoved through the door back in January!
ChevronB19 said:
Congrats! Certainly got character 
My folks finally completed yesterday: selling a 300 year old cottage with the usual issues 300yr old cottages have, long and complicated chain. They did more than a few things I wouldn’t have done (they’re very trusting!) and fully moved out of their house after exchange of contracts, would have been a horrific pita if it had all fallen down before completion but it didn’t. 45 years they have been there, just glad it all worked out for them and everyone else in the (long) chain
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