Is anyone moving now?

[tt601]

Petrus1983 said:

Oh wow - I’ve exchanged

I have the opportunity to be mortgage free - but that’s dependent on a large chunk from my parents. Is there anything I can put in place to make them feel more at ease - a charge against the property?

Well played. How about a nIce Thank You card and a box of chocolates? Will that not do?

When my dad did similar with my brother we put a charge on the property. Just in case brother was tempted to sell and drink the proceeds!

When my dad died , with my mums agreement, we released the charge. All DIY pretty easy.

[Petrus1983]

tt601 said:

Well played. How about a nIce Thank You card and a box of chocolates? Will that not do?

When my dad did similar with my brother we put a charge on the property. Just in case brother was tempted to sell and drink the proceeds!

When my dad died , with my mums agreement, we released the charge. All DIY pretty easy.

Sounds just what’s needed to put my brothers mind at ease - thanks.

[XCP]

We gave a sizeable wedge to my son as a deposit on his house and had to sign a document that we didn't want it back or claim any ownership of the house.

[Flooble]

XCP said:

We gave a sizeable wedge to my son as a deposit on his house and had to sign a document that we didn't want it back or claim any ownership of the house.

My understanding is that I think that would be because he had a mortgage. The OP is going to be mortgage free. In the case of a house bought with a mortgage, the bank wants to make sure it has the first (or, possibly, sole) charge on the place. i.e. If your son defaulted they want to be able to grab the house and flog it without worrying about you also coming after your cash.

[leef44]

Flooble said:

XCP said:

We gave a sizeable wedge to my son as a deposit on his house and had to sign a document that we didn't want it back or claim any ownership of the house.

My understanding is that I think that would be because he had a mortgage. The OP is going to be mortgage free. In the case of a house bought with a mortgage, the bank wants to make sure it has the first (or, possibly, sole) charge on the place. i.e. If your son defaulted they want to be able to grab the house and flog it without worrying about you also coming after your cash.

I was thinking of doing the same. I've just downsized and was going to invest the money in equity for future retirement. I've offered it to my son as an interest free loan to fully cover a house purchase. This frees him from the hassle of a mortgage as a FTB and any stress with repayments.

The investment income I forgo equals the deposit I would have paid towards his first property anyway.

If he doesn't get to pay back all the loan or gets into a difficult relationship in the future leading to a split of the property then that is the risk I am willing to take.

[Wildfire]

Jefferson Steelflex said:

They should agree to indemnity insurance for these sorts of things, lost paperwork is a pain but a pragmatic buyer will agree to proceed if they have insurance in place.

Edited to update, by lost paperwork I mean things like building control certs and the like.

I thought this, but these ones are lender stipulated.

[Wildfire]

So our vendors solicitor had “suddenly received all the necessary documents” and they will be ready to go next week.

But the top of the chain is now stating that they will only agree to a completion of August 26th, nothing else.

Not a problem… but wait…

Our buyer now says he must be done by August the 4th due to…..

His family going away for a religious festival. FFS!!

He was explicitly asked before we accepted his offer that there were no holidays or celebrations that would not allow him to be flexible!! Exactly the same as the last buyer!!!

Also late in the day a solicitor for someone further up the chain has revealed that they actually haven’t completed their enquiries after 8 months…

[gmaz]

On the house we are buying the solicitor uses "ASAP" case management software which seems to be pretty good as we can see the progress. The also have dedicated "progressors" that chase people up for you and make sure things move quickly.



http://help.hoowla.com/knowledgebase/how-to-use-yo...

[princeperch]

Wildfire said:

So our vendors solicitor had “suddenly received all the necessary documents” and they will be ready to go next week.

But the top of the chain is now stating that they will only agree to a completion of August 26th, nothing else.

Not a problem… but wait…

Our buyer now says he must be done by August the 4th due to…..

His family going away for a religious festival. FFS!!

He was explicitly asked before we accepted his offer that there were no holidays or celebrations that would not allow him to be flexible!! Exactly the same as the last buyer!!!

Also late in the day a solicitor for someone further up the chain has revealed that they actually haven’t completed their enquiries after 8 months…

I had all this when I was moving. It's out of your hands now. I suspect one or both are fibbing about their hard and fast deadlines.

My buyer said he wouldn't buy my house unless he could move in by end of feb. I did my best to accommodate that but others didn't play ball. We ended up moving end of march and he didn't move in for another 7 weeks after we completed. His previous emails about him being booted out of his rental flat were all bks and he just wanted his own way.

Everyone is running their own race - remember that.

[leef44]

princeperch said:

I had all this when I was moving. It's out of your hands now. I suspect one or both are fibbing about their hard and fast deadlines.

My buyer said he wouldn't buy my house unless he could move in by end of feb. I did my best to accommodate that but others didn't play ball. We ended up moving end of march and he didn't move in for another 7 weeks after we completed. His previous emails about him being booted out of his rental flat were all bks and he just wanted his own way.

Everyone is running their own race - remember that.

Unless your buyer was trying to not extend their rent to save money but made out they were going to be booted out. they were then forced to extend their rental contract so decided to carry on living in the rental while they were sorting things out of the purchased property.

But like you say, still lying.

[Wildfire]

princeperch said:

I had all this when I was moving. It's out of your hands now. I suspect one or both are fibbing about their hard and fast deadlines.

My buyer said he wouldn't buy my house unless he could move in by end of feb. I did my best to accommodate that but others didn't play ball. We ended up moving end of march and he didn't move in for another 7 weeks after we completed. His previous emails about him being booted out of his rental flat were all bks and he just wanted his own way.

Everyone is running their own race - remember that.

The really annoying thing is that no one is managing he massive chain of 7. Each agent is being a selective with the truth as they can, bar the one who no one can get hold of.

The top of the chain is moving to Spain whereas our buyer is frankly an idiot.

So far his list of demands, all that have been refused are:

• To include all the white goods (freestanding) at no extra charge.
• To include the furniture in the living room.
• To include the smart home lights and plugs.
• For us to move all furniture and disconnect all appliances for a full electrical check, including emptying the attic so the lights can be accessed.
• For us to print out a "manual for the flat"
• To have the flat professionally cleaned, with a full steam clean of the carpets on the day of the exchange and on completion.
• For us to repaint all walls on the day of completion.
• To pay the service charge for the rest of the year, and be liable for any charges after he has taken ownership until 2023, and to give him the 50% of the service charge.

God know where he thinks we will have the time to repaint the flat on the day of completion!

I would like to say this is a sharp minded, greedy shark, but sadly it is not. He genuinely doesn't understand buying, despite saying he has 3 properties. When he visited, his father in-law had to explain to him what exchange and completion meant and what a chain was.

Even then he still doesn't get it.

Even more frustrating is that the house our seller is buying has been vacant for a year, as it is a second home and the owner refuse to have a different completion date to us and break the chain. Why? Because he is a surgeon and people do what he says, not the other way around.

FML there are some ales out there and our chain seems to have attracted 3 of them.

[Jefferson Steelflex]

We are in the final week, completing on Friday. Had an email from my solicitor today telling me they haven't been able to get a redemption statement from current lender, and I need to chase it as it puts completion at risk.

Call lender, they tell me only the solicitor can request it in the format required, and there is a process to go through (some form of online portal). Round in circles.

I always thought the time between exchange and completion was meant to be easier as everything was ready, now on top of managing clearing my life out of the current house I also need to referee a row between my solicitor and the lender. Does no one pick up the phone these days either? I mean why email me with such a critical issue?

[beanoir78]

Jefferson Steelflex said:

Does no one pick up the phone these days either? I mean why email me with such a critical issue?

Makes my blood boil this one. I find this worst with solicitors, whenever you try to call they're always on another call or in a meeting.

They either don't like have conversations with their clients that might involve answering any question off the bat without 'preparing a response' or they're just too busy to speak to their fee paying clients. Either way, it's shocking.

[CornishRob]

How much is everyone paying for Conveyancing? I've been quoted and paying about £1600 + VAT for sale and same again for buying, plus the other charges on top, so about £4600 all in for a buy and sell process.

I used her last time and she was really good, so was my go to. No idea if its competitive though!

[beanoir78]

CornishRob said:

How much is everyone paying for Conveyancing? I've been quoted and paying about £1600 + VAT for sale and same again for buying, plus the other charges on top, so about £4600 all in for a buy and sell process.

I used her last time and she was really good, so was my go to. No idea if its competitive though!

That's pretty much the same for my current move, and for my last one too.

[talksthetorque]

Lots of conveyancers/Solicitors price in bands, probably because of the cost of professional indemnity insurance on transactions, as well as other reverse economies of scale.
My answer is less than that - about £1k, but the house is within 20% of the national average, so well below Poiwerfully Built Direct accomodation levels

[ChevronB19]

CornishRob said:

How much is everyone paying for Conveyancing? I've been quoted and paying about £1600 + VAT for sale and same again for buying, plus the other charges on top, so about £4600 all in for a buy and sell process.

I used her last time and she was really good, so was my go to. No idea if its competitive though!

Not too far off mine, although price for sale (at 230k) and price for purchase (325k) were different, they priced based on sale/purchase price. I used same guy for sale and purchase, no idea why some people use different?

I think in total I paid 3k for the above. I used a local solicitors conveyancing department. I had a dedicated (in all ways) guy, who I could call and speak to at any time in working hours. If he wasn’t available as he was in a different call, I got a call back within minutes. I hadn’t bought or sold a house in ages and had forgotten the general procedure, he explained everything carefully and patiently. He also spent ages tearing his hair out at my sellers choice to use a PB conveyancing farm.

Looking at this thread, I think I lucked out in this regard.

[Wildfire]

CornishRob said:

How much is everyone paying for Conveyancing? I've been quoted and paying about £1600 + VAT for sale and same again for buying, plus the other charges on top, so about £4600 all in for a buy and sell process.

I used her last time and she was really good, so was my go to. No idea if its competitive though!

We're paying £1900+VAT for buying and around £1200 for selling. And our solicitor is worth every penny! She still has a bit of the "this is for you to decide" but not once have we ever had an issue getting hold of her, her sending documents out, or anything. Without her I definitely would have had a heart attack by now. Our first seller, bought a package with 2 solicitors and a "personal progressor" of which they have 20 of them. He could never get hold of the solicitor. Same for our vendor.

Today we are on round 4 of trying to exchange and the seller's solicitor is nowhere to be found.

[heisthegaffer]

We're completing next week - very exciting!

[CornishRob]

Just made an offer on a house. I don't expect it to be accepted as its well below asking, but its the start of the process for us!