Is anyone moving now?
Discussion
The ArtfulBodger said:
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.
Its not all doom and gloom, I went to bed after posting that as working nights, since the "management pack" has turned up. Don't think the bloke at the top has officially pulled out with his solicitor yet despite me being told he had so might be able to resurrect it tomorrow. If it does go ahead going to push for completion this week as getting tired of this now. 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.
Positive spin coming up.
Our solicitor saved us a couple of hunderd quid by not sending off the searches for a week and a half after we paid them the money to do it, as our buyers pulled out in the meantime.
We're about to go back on the market after our breather from our sale falling through - we realised we still want to move. A property 2/3 the size has just sold in he next that was on for £20k more, within 1 day, so we're quite optimistic.....
But as for finding something else when we do get a buyer.......
Our solicitor saved us a couple of hunderd quid by not sending off the searches for a week and a half after we paid them the money to do it, as our buyers pulled out in the meantime.
We're about to go back on the market after our breather from our sale falling through - we realised we still want to move. A property 2/3 the size has just sold in he next that was on for £20k more, within 1 day, so we're quite optimistic.....
But as for finding something else when we do get a buyer.......
We exchanged this afternoon. I am most relieved.
The conveyancer was awfully cruel though - she phoned and opened with "I hope you're sitting down". Given that the previous buyer pulled out that had me very worried. I may try to negotiate a reduction for the mental anguish, mere seconds though it was.
The conveyancer was awfully cruel though - she phoned and opened with "I hope you're sitting down". Given that the previous buyer pulled out that had me very worried. I may try to negotiate a reduction for the mental anguish, mere seconds though it was.
As a general question
Presume a no chain sale - how long between getting searches back and recieving all the initial property information would people expect to be exchanging?
All thing being equal what's to stop exchanging once searches are in and enquiries answered?
And mortgage approved with valuation agreed by the bank.
Presume a no chain sale - how long between getting searches back and recieving all the initial property information would people expect to be exchanging?
All thing being equal what's to stop exchanging once searches are in and enquiries answered?
And mortgage approved with valuation agreed by the bank.
JeffreyD said:
Presume a no chain sale - how long between getting searches back and receiving all the initial property information would people expect to be exchanging?
Impossible to answer on the searches, your solicitor is best placed to answer. Different authorities are under different amounts of pressure. Ours took 12 weeks, but I've heard of them taking much less time, or even longer in some cases.JeffreyD said:
As a general question
Presume a no chain sale - how long between getting searches back and recieving all the initial property information would people expect to be exchanging?
All thing being equal what's to stop exchanging once searches are in and enquiries answered?
And mortgage approved with valuation agreed by the bank.
I’ve recently completed in about 4 weeks, from offer to completion. No chain on both sides, and vacant property. Presume a no chain sale - how long between getting searches back and recieving all the initial property information would people expect to be exchanging?
All thing being equal what's to stop exchanging once searches are in and enquiries answered?
And mortgage approved with valuation agreed by the bank.
conveyancer is a family solicitor though, so just a phone call away on any step...
(been looking around for nearly year though, numerous offers rejected on other houses...)
STILL waiting for an exchange date / buyers had full survey/ roof survey/timber survey/ drain survey/ structural engineer survey/
They are moving from a flat to ours (large 1890 manor)
I can understand it’s quite a scary jump but our house has been completely renovated and it’s getting rather tiresome to have these endless people coming who all take a middle line / cover backs and charge a lot. Plus we’ve actually moved to Devon.
No real point to make just arrrrrrghhhh annoying/frustrating
They are moving from a flat to ours (large 1890 manor)
I can understand it’s quite a scary jump but our house has been completely renovated and it’s getting rather tiresome to have these endless people coming who all take a middle line / cover backs and charge a lot. Plus we’ve actually moved to Devon.
No real point to make just arrrrrrghhhh annoying/frustrating
fesuvious said:
.
(Property is over £1m - for context)
Price makes NO difference (Property is over £1m - for context)
Has the property ever suffered subsidence?
A: no the property has not suffered subsidence
2 weeks later....
Has any of the neighbours properties suffered subsidence?
A: no the property has not suffered subsidence
2 weeks later
Has any of the outbuildings or garage suffered subsidence?
A: for God’s sake NO!! The property has not suffered subsidence
Following week (I kid you not)
Have you had any tree roots underpinned for subsidence?
Told them they have all the answers they need and this bull has to stop
Edited by parakitaMol. on Saturday 29th May 08:05
Yeah I hear what you are saying of course it’s valid. Although the question was answered fully and they reframed several times over a period of weeks which is bulls
t time wasting. Ours is a rather big sale and we’ve already bought another similar so it’s a tiny bit stressful right now 
#understatement
We have had the pane of glass question too. Over a piece of plastic pipe on a purely decorative antique burner that’s not actually plumbed in.
.
t time wasting. Ours is a rather big sale and we’ve already bought another similar so it’s a tiny bit stressful right now #understatementWe have had the pane of glass question too. Over a piece of plastic pipe on a purely decorative antique burner that’s not actually plumbed in.
.
Edited by parakitaMol. on Saturday 29th May 08:39
One of the properties we’re selling has been delayed for two weeks already due to an enquiry about cladding.
It’s an old brick building without cladding, the management pack includes photos, fire risk assessment and build materials, as well as the buyer having visited the property twice. Definitely no cladding anywhere.
Still need to wait for the council to confirm it’s cladding free though.
Sometimes you wonder why common sense doesn’t prevail. She’s even a cash buyer so there’s no mortgage prerequisite demanding an answer. Baffling.
It’s an old brick building without cladding, the management pack includes photos, fire risk assessment and build materials, as well as the buyer having visited the property twice. Definitely no cladding anywhere.
Still need to wait for the council to confirm it’s cladding free though.
Sometimes you wonder why common sense doesn’t prevail. She’s even a cash buyer so there’s no mortgage prerequisite demanding an answer. Baffling.
Our survey now done and results back. Misses out one of the parking spaces in underground car park and at £20k each a fairly big omission. Also identifies a flood risk. Being a penthouse 80m up then I think of sea levels rise to that extent the last concern I’d have would be of damp carpets in the place.
Shnozz said:
Our survey now done and results back. Misses out one of the parking spaces in underground car park and at £20k each a fairly big omission. Also identifies a flood risk. Being a penthouse 80m up then I think of sea levels rise to that extent the last concern I’d have would be of damp carpets in the place.
Surely with flooding in a flat it’s more of whether the car park will be under water, and whether you can get in and out of the property if the water rises?
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