Is anyone moving now?
Discussion
Hi guys,
So, we've been told the contracts will be ready early this coming week.
The property we are buying is vacant, we aren't selling anything either, so no chain.
Due to us having a mortgage whats the timeline to be expected between exchange and completion? The selling agent has said it usually takes a week to get the funds though from the lender. Is that accurate? I haven't asked the solicitors yet but wondered what the norm is. The lender is coventry building society fyi. We want to be in asap of course and the vendor has requested atleast a day between exchange and completion to get any remaining things out.
Also, its only been bangbon 2 months between instructing the solicitor and now. Quite impressed tbh.
So, we've been told the contracts will be ready early this coming week.
The property we are buying is vacant, we aren't selling anything either, so no chain.
Due to us having a mortgage whats the timeline to be expected between exchange and completion? The selling agent has said it usually takes a week to get the funds though from the lender. Is that accurate? I haven't asked the solicitors yet but wondered what the norm is. The lender is coventry building society fyi. We want to be in asap of course and the vendor has requested atleast a day between exchange and completion to get any remaining things out.
Also, its only been bangbon 2 months between instructing the solicitor and now. Quite impressed tbh.
I'm in the process of trying to relocate from Bristol to Sussex for work. Had no issues getting an offer of asking price on ours, but starting to realise this is a really really s
tty time to be trying to buy a 3 bed semi!
Had one house we liked come online and sell within 3hrs, another go for £20k over asking. Anything that's been on there more than a couple of weeks is pokey and overpriced.
tty time to be trying to buy a 3 bed semi! Had one house we liked come online and sell within 3hrs, another go for £20k over asking. Anything that's been on there more than a couple of weeks is pokey and overpriced.
Rob. said:
Anything that's been on there more than a couple of weeks is pokey and overpriced.
Sounds similar to the situation up here in Aberdeen, anything decent is shifting very fast! Hope you manage to find somewhere suitable.We're still waiting on the qualified acceptance of our offer for the next place, hopefully, it's just the sellers' solicitor being slow. The mortgage porting application is in so just waiting for that now really, the survey has been refreshed with nothing new found and no change in valuation so that's good.
How have people found dealing with leftover stuff in a new house? There are some bits in the garage that I'd like to keep (wood for the fire, ladders and a bench grinder) but some bits that will definitely need to go to the tip (rusty old wheelbarrows, crappy Flymo mower). It's hard to know whether to insist that absolutely everything is gone or whether to suck it up and trailer the unwanted stuff away ourselves!
Looking to get an interior designer to give us a hand with the new lounge - it's a big room over the garage (5.5m x 5.5m) and we've only got a two-seater sofa and a 49" TV to go in it currently. I think my wife has quite big ideas for furnishings and paint finishes so this could wind up being expensive but I'm hoping to get a nice log burner and a new oak lintel fireplace so can't complain too much!
Moving date is 9 July, all being well. That will result in a two-year-old and a six-week-old baby to handle, oh the joys!
Bloke at top of chain threatening to pull out, I'm number 3 of 5. Calling solicitors/estate agents 3 times a day to be told everybody is waiting to hear from everybody.
Should of exchanged at least 3 weeks ago. Guy above us has been sorting an indemnity for about 2 weeks now and bloke below still not got his management pack.
Really dont know who to shout at.
Should of exchanged at least 3 weeks ago. Guy above us has been sorting an indemnity for about 2 weeks now and bloke below still not got his management pack.
Really dont know who to shout at.
AJB88 said:
Bloke at top of chain threatening to pull out, I'm number 3 of 5. Calling solicitors/estate agents 3 times a day to be told everybody is waiting to hear from everybody.
Should of exchanged at least 3 weeks ago. Guy above us has been sorting an indemnity for about 2 weeks now and bloke below still not got his management pack.
Really dont know who to shout at.
Should of exchanged at least 3 weeks ago. Guy above us has been sorting an indemnity for about 2 weeks now and bloke below still not got his management pack.
Really dont know who to shout at.
AJB88 said:
Bloke at top of chain threatening to pull out, I'm number 3 of 5. Calling solicitors/estate agents 3 times a day to be told everybody is waiting to hear from everybody.
Should of exchanged at least 3 weeks ago. Guy above us has been sorting an indemnity for about 2 weeks now and bloke below still not got his management pack.
Really dont know who to shout at.
I don’t understand those that stamp their feet like that - we had little rumblings of that toward the end, it was unwarranted as it turned out too.Should of exchanged at least 3 weeks ago. Guy above us has been sorting an indemnity for about 2 weeks now and bloke below still not got his management pack.
Really dont know who to shout at.
I did ring our seller and explained to him that the delays were being dealt with as quickly as practicable and everyone was aiming for the same exchange 19/3 complete 26/3. I got the impression he and his wife were a bit thick and thought throwing their weight around would help - it didn’t do anything bar for get others backs up.
To come so close to the finish and then start behaving like a spoilt brat is a bizarre way of trying to push things along.
Good luck with it.
Rob. said:
I'm in the process of trying to relocate from Bristol to Sussex for work. Had no issues getting an offer of asking price on ours, but starting to realise this is a really really stty time to be trying to buy a 3 bed semi!
Had one house we liked come online and sell within 3hrs, another go for £20k over asking. Anything that's been on there more than a couple of weeks is pokey and overpriced.
That’s a big issue at present. Stamp duty holiday and 95 percent mortgages are putting serious heat into a ‘frothing’ market. The eponymous 3 bed semi in a nice area are like petrol on the bonfire. I found a nice place last week ( not a three bed semi ) and there was a line of people waiting to view, after it had been on for about 2 hours. I was first in the line, on account of getting a heads up from the agent. The asking price was within about a grand of what other similar places have been going for there, of late, so I decided not to mess around for the sake of not a huge amount of wedge. I offered the asking price, the vendor accepted, and he then offered to leave all the ( practically brand new ) furniture and white goods in. It’s all very good quality stuff too. It’s very much a sellers market right now, it reminds me of the late 1990s- early 2000s when ‘Gazumping’ was an issue.tty time to be trying to buy a 3 bed semi! Had one house we liked come online and sell within 3hrs, another go for £20k over asking. Anything that's been on there more than a couple of weeks is pokey and overpriced.
fesuvious said:
That's your moment to drop a card with your phone number through each letterbox in the chain. It will introduce yourself and ask people to join a WhatsApp group for the chain.....
Equally that exposes you to an utter plank that no amount of reasoning with will change their mind.If this is SDLT deadline driven that will be even more so the case.
After the first property we went for fell through due to the seller losing their prospective property, we eventually found another and have now completed.
It took just over 6 weeks, the searches had been done by a previous buyer (investor) who bailed out, was able to purchase them and it saved a lot of time.
Went with Nationwide for the mortgage and they were very efficient, was told it would take maybe 12 weeks minimum so very surprised.
No chain and we were in a rental.
It can be hard work clearing out a house but can put a real damper on the new occupiers excitement when left in the state mentioned in this thread.
Still find it so strange that I spent more time test driving my second hand car then I did looking around the new house
It took just over 6 weeks, the searches had been done by a previous buyer (investor) who bailed out, was able to purchase them and it saved a lot of time.
Went with Nationwide for the mortgage and they were very efficient, was told it would take maybe 12 weeks minimum so very surprised.
No chain and we were in a rental.
It can be hard work clearing out a house but can put a real damper on the new occupiers excitement when left in the state mentioned in this thread.
Still find it so strange that I spent more time test driving my second hand car then I did looking around the new house
I'm giving up for now.
Sold our house in February. (South East). It was on for 4 days. Had 5 offers. Some over asking price. Went for an at asking price offer from some first-time buyers.
Roll on May, and they have pulled out. Can't really blame them.
In the last 3 months, I have offered on 5 other properties. All offers have been at, or above the asking price. These are on houses around the 800 to 1m mark in Devon and Cornwall.
The last house I offered 20% over asking. Still didn't get it. Probably lost out to the guy who came down in his helicopter. The house came on the market late in the day on a Saturday evening, the agents were closed Sunday. By 09:15 on Monday morning they had booked up 3 days worth of solid bookings and I had to get on the road an hour after the initial phone call to have any chance of seeing it. Frogmarched in and out within 15 mins and on my way again.
I spend more time looking at a 2nd hand car than a 1m house purchase 200 miles away from "home".
So yeah, I'm sitting tight for now. The current market is completely unsustainable and can only cool off... Quite dramatically i should wager.
Sold our house in February. (South East). It was on for 4 days. Had 5 offers. Some over asking price. Went for an at asking price offer from some first-time buyers.
Roll on May, and they have pulled out. Can't really blame them.
In the last 3 months, I have offered on 5 other properties. All offers have been at, or above the asking price. These are on houses around the 800 to 1m mark in Devon and Cornwall.
The last house I offered 20% over asking. Still didn't get it. Probably lost out to the guy who came down in his helicopter. The house came on the market late in the day on a Saturday evening, the agents were closed Sunday. By 09:15 on Monday morning they had booked up 3 days worth of solid bookings and I had to get on the road an hour after the initial phone call to have any chance of seeing it. Frogmarched in and out within 15 mins and on my way again.
I spend more time looking at a 2nd hand car than a 1m house purchase 200 miles away from "home".
So yeah, I'm sitting tight for now. The current market is completely unsustainable and can only cool off... Quite dramatically i should wager.
Finally got replies to our enquiries back from vendor. All straightforward apart from an issue with an area of driveway that we will own but neighbour has right of access across. Deeds describe the area as shaded 'green' on the map but it is actually yellow. Vendor not interested so our solicitor has suggested we pay for an indemnity but I'm really not sure what for. It's blindingly obvious as there is only one area of land that is coloured in so I can only assume the description was drafted by a colour blind clerk.
No apparent problems with our buyers so hoping to exchange next week.
No apparent problems with our buyers so hoping to exchange next week.
AJB88 said:
Bloke at the top has now officially pulled out. 17 weeks since we sold ours.
There has to be a better way doesn't there?The system feels fundamentally unsuited to the modern world of people have to move to a timetable and actually.
Not everyone can be a cash buyer with zero chain.
JeffreyD said:
There has to be a better way doesn't there?
The system feels fundamentally unsuited to the modern world of people have to move to a timetable and actually.
Not everyone can be a cash buyer with zero chain.
I agree, talking to my cousin in Australia, her fella is an estate agent. They couldn't believe the process here. The system feels fundamentally unsuited to the modern world of people have to move to a timetable and actually.
Not everyone can be a cash buyer with zero chain.
We arent really in a position to pull out of buying the house above, there is nothing in the area that suits us now, we also cant do rented etc got far too much stuff and 2x large dogs.
could do with the bloke above going into rented.
Edited by AJB88 on Wednesday 26th May 14:21
Had a great time the other day.
Have had a weekend away booked in London for ages, sadly clashed a little with needing to find a house.
Typically one came up the Thursday, drove around it that night. Area is right all happy.
EA will not commit to any viewings past the few on Saturday (when I am 150 miles away) as they know it will likely sell.
Say I have seen enough and am in a positon to make a bid. This is rejected as I haven't viewed the property.
Ended up going back home spending most of the day on trains and taxis to view the house.
Put the offer in to have it rejected a hour later as the house was sold to a cash buyer as the vendor wanted to sell ASAP. ( we are selling to ftb so no chain to speak of)
Absolute waste of my time, EA knew I was unlikely to be accepted due to not being cash and obviously knew other viewers were cash.
Was a really scummy thing to do.
Have had a weekend away booked in London for ages, sadly clashed a little with needing to find a house.
Typically one came up the Thursday, drove around it that night. Area is right all happy.
EA will not commit to any viewings past the few on Saturday (when I am 150 miles away) as they know it will likely sell.
Say I have seen enough and am in a positon to make a bid. This is rejected as I haven't viewed the property.
Ended up going back home spending most of the day on trains and taxis to view the house.
Put the offer in to have it rejected a hour later as the house was sold to a cash buyer as the vendor wanted to sell ASAP. ( we are selling to ftb so no chain to speak of)
Absolute waste of my time, EA knew I was unlikely to be accepted due to not being cash and obviously knew other viewers were cash.
Was a really scummy thing to do.
After just over a year my house will be ready for me to move in this Friday. Will be having a demonstration of the tech inside it tomorrow as basically it would beat me in a pub quiz and then next day is moving day.
Still lots of fluffy things to do like changing the mud pit at the front into a lake and the mud pit at the rear into a small garden, and proper access as currently we have had to knock down a neighbours fence and access around the other side and round the front of theirs! Oh and i meed internet as due to the lack of a drive that hasn’t been connected yet.
But the good news is that it will be day 176 of the allowed 180 days from parking my money and paying my early redemption fee to re-opening the mortgage so that is worth a fairly good sum!
Still lots of fluffy things to do like changing the mud pit at the front into a lake and the mud pit at the rear into a small garden, and proper access as currently we have had to knock down a neighbours fence and access around the other side and round the front of theirs! Oh and i meed internet as due to the lack of a drive that hasn’t been connected yet.
But the good news is that it will be day 176 of the allowed 180 days from parking my money and paying my early redemption fee to re-opening the mortgage so that is worth a fairly good sum!
Our chain appears to be ready to exchange, completion looking like the 23rd of June as our buyer's buyer doesn't want to waste the month of rent they've paid. EA is pushing for exchange this week in exchange (no pun intended) for agreeing a relatively long period betwixt that and completion.
AJB88 said:
JeffreyD said:
There has to be a better way doesn't there?
The system feels fundamentally unsuited to the modern world of people have to move to a timetable and actually.
Not everyone can be a cash buyer with zero chain.
I agree, talking to my cousin in Australia, her fella is an estate agent. They couldn't believe the process here. The system feels fundamentally unsuited to the modern world of people have to move to a timetable and actually.
Not everyone can be a cash buyer with zero chain.
We arent really in a position to pull out of buying the house above, there is nothing in the area that suits us now, we also cant do rented etc got far too much stuff and 2x large dogs.
could do with the bloke above going into rented.
Edited by AJB88 on Wednesday 26th May 14:21
AJB88 said:
Bloke at the top has now officially pulled out. 17 weeks since we sold ours.
You have my sympathies - 17 weeks and now your hopes pinned on someone being willing to go into renting; that’s a tall ask but hopefully they will go for it.Bear in mind that they may have significant Early Redemption Fees to pay if they sell and pay off their existing mortgage without simultaneous sale and purchase of their next property.
Had we been faced with this we would have been clobbered with £3.5k ERF, I think on balance we would have took the hit to get our old house sold, and when all said and done if you are in it for the long haul that 3.5k amortised over say 10 years becomes a more palatable £350 a year or less than a £1 day, not everyone can see it like that though.
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