In a chain support thread Sept 2017

[Gizlotsmum]

Hope it's ok to start another one! So we have a week of waiting for surveys etc...

I can't imagine using your allowed overdraftvwould go against you and unless you have had three kids since you got your aip I am sure it will be fine. ;)

It'll be fine! It was a planned overdraft, and you're no longer in it. It's not a problem at all. We'd been in and out of a planned overdraft for months until last year. As long as you manage it properly it's not an issue.

So asked about completion dates and got told it was too early to talk about dates 😩

This is the first time we're going through a house sale/buying next place (we were FTBers when we bought current property) and I swear it's making me ill (insomnia, acne breakouts and constantly being on edge). My OH is so much more relaxed than I am. We're in a chain of 5 and I am so scared something is going to go wrong and we'll lose the place we want so, so, so badly :'(

They people below us have already had one sale fall through (the person buying's ex reneged on their divorce settlement) and have multiple offers made but not progressed for one reason or another. They've now been made a good offer and we've been told their buyer is in a 'healthy place' to proceed but I'd rather be cynical than be disappointed again. Hoping, praying and then praying some more that all goes well and I can breathe. We're at the valuation stage for the place we'd like to buy next. Fingers crossed people in the chain below aren't going to throw in a curve ball at the last minute.

Second viewing booked, taking along an engineer to give us a quote on what it will take to get the log burner properly fitted. Will also be taking a tape measure to get curtain sizes etc..,

FX muss! It's a nightmare process. I have resorted to herbal nytol to get some sleep.. I fall asleep ok but wake in the early hours with so many 'to dos and what if's' on my mind.. it seems to work

@Gizlotsmum- will have to give Nytol a go! I can't carry on like this. Have on-going medical issues and this selling/buying process isn't helping! It's the not knowing/uncertainty that is the biggest killer of all. Will be booking a big holiday once it's all over (if we can afford it)! I HATE packing (have rented a lot in the past) but actually looking forward to that task once we've exchanged/completed. Not doing anything before then in case something bad happens...

The next place is our dream place and I've already got it the way I want to in my head BUT I'm not going to be doing anything (measuring up for curtains/blinds, etc.) until we're in (please God)!!!

Whatthesausage we dipped into our o/d on the statements we supplied to the mortgage company. As long as you come out of being overdrawn after being paid and then aren't immediately back into it, they actually see it as managing your money well, using the resources available. I.e you dip into when required (that's what's its there for) but then pay it back as soon as you can.

Looking like we are exchanging today ready for completing/moving on Friday....eek this is really happening. Suppose I should start packing!!

Oh that's good news emma8! Hope it all goes smoothly for you.

Oh amazing news Emma. Do you mind me asking how long it took for the process? Well done you!

sausage I agree with others, if you have an agreed overdraft then it is fine that you used it, if you overdrew without an agreement then that would be different.

Gizlot where are you in the process? When are we allowed to ask about completion dates? I hear you and muss both on the night time waking, I’m frequently awake at 3 am for a few hours thinking about all that is going on, nytol is not a bad idea.

We're making our application for our AIP at the moment, serious amounts of documentation, I forgot how much they ask for. Also I just had a call from the EA to say the buyers are happy with all of the feedback from the surveys (they had a normal survey and a timber and damp survey done). So now it's down to the searches coming back, any questions being answered if needed and potentially a date for exchange getting agreed, fingers and toes crossed. It could mean that we would be able to make an offer on this property that we have found that we love, tummy is rolling thinking of all of this. A mix between excitement that this sale could nearly be all over and fear that it could all fall apart still. To be honest I’m more excited about the impact this feedback has on dh, he promised me he would consider an offer if the survey feedback was ok. Now it is and he is all guns go! Yay!

Everyone tells me here (France) that there are no chains but honestly I think it’s total BS! We went to some viewings at the weekend and asked what position the vendors were in and they said “they are still looking to buy” – is that not a chain? Then on another property we were told that the vendor was looking to have all contracts signed by the end of Sept but would continue to live in the property until February when their new build was ready. Eh, no thanks! So, there are chains but they obviously don’t call them that.

Lots of stress here.

AnnPerkins - any more news?

Excellent news Emma8 - hope everything is smooth for you from here.

I am on the nytol too although I've used it off and on for years anyway.

Well our mortgage has been completely agreed following the valuation survey last Friday. They've also given a rebuild cost which I need for the buildings insurance (as it's G2 listed I can't use the standard rebuild calculators) which mean I can now get a ball park figure for insurance which I've been really worrying about, not having owned a listed property before.

We're starting to get queries through from our purchasers solicitors so that's got to be a good sign that they are working on the file for their clients.

Good luck with the second viewing Gizlotsmum - I hope the engineer will be helpful (I still can't quite believe there is a log burner but no flue!)

No news from our buyers sol.

Had a progress report on whole chain from our vendors sol. Everyone is at the final queries stage, except our buyers new buyer, who is waiting on searches, survey and mortgage offer.

If the chain stays together is there any hope of exchanging in four weeks, meaning we can complete by half term?

If the chain stays together is there any hope of exchanging in four weeks, meaning we can complete by half term?

Technically yes, but in my experience everything takes longer than expected. Keep pushing, no matter how annoying you think you're being! Do your buyers know you want to exchange in 4 weeks?

We have had our mortgage, valuation survey and searches. Our homebuyers survey was done yesterday and our buyers survey is booked in for Thursday. No enquiries recieved from our buyer so a bit early and our solicitor wouldn't be drawn on dates :( but we are going for a second viewing on Sunday and bringing someone to quote for installing the log burner. Our vendors should be straight forward as they have a house being held for them so should have done searches etc...I think half term may be optimistic but I will keep trying!

Hello folks! Early days here, but already feel like I need support!!
We had our offer accepted today after finding buyers two weeks ago, and our vendor has immediately offered on a property, so we're waiting to see if that's accepted. If it is, we'll be a chain of four... our buyers are in rented, they're currently applying for the mortgage, but not had valuation/survey dates yet. Our vendors are separating and Mrs has offered on a property that is currently being rented out, so the buck stops there.
Bit nervous about separating couple causing issues through not agreeing / signature / paperwork delays, but hopefully I'm just being paranoid!!
Our mortgage application is going to be processed tomorrow once we've sent in payslips, and apparently we should get a decision the same day, pending surveys obvs. Soooo glad they don't need our bank statements as last month was a biiiiig credit card bill after a lovely holiday at the Edinburgh festival!

Welcome Ness! Good luck

Hello Nessalina - congratulations on having your offer accepted! A nice short chain has got to be a bonus.

Hopefully your purchasers new purchaser can catch up with the rest of the chain AnnPerkins

This is like dipping into my clients' diaries...

Good luck everyone!

So homebuyers survey came back... lots of 2's and a couple of 3's which after the initial heart attack (email stated they couldn't recommend purchase without further investigation) are fairly standard things ( roof may need repointing). Forwarded it on to our solicitor ( although I think a lot of the 2's were covered by searches) so now waiting again. Making a list of things to check on second viewing.. any tips anyone?

Thanks Yoga. Sounds like things are proceeding for you.

Ecureuil, I haven't discussed timescales at all yet.

My plan of action for today is to forward our vendors EAs update to my EA, and see if she can prompt our buyer to confirm she wants to proceed following our sols letter. Then I will talk to my sol about timing.

Hi Nessa. Good luck with everything.

I've got no tips Gizlot. We would,like a log burner, though, so will bear your experience in mind for if we do it,

Good luck everyone- house buying is such a horrible process to go through but hoping and praying we'll all be fine in the end!

Our searches have come back with a Radon gas risk 😱 anyone else had this? It's really scaring me, especially as DH had leukaemia as a child 😔

Also, when should we ask about exchange dates? Our buyers, us and the people we're buying off want to have moved yesterday but it doesn't work like that :( I feel like I'll be able to breathe a little once we've got an exchange date in place.

PartyintheKitchen it took 13 weeks 1 day from the offer being accepted to exchange, then completion will be 4 days later so near enough 14 weeks. Very straightforward chain as it is essentially a house swap but everyone (apart from us) seems to have had at least 2 holidays!!

Our solicitor wouldn't talk dates until the search results were back.

Exchange happened yesterday and solicitors secretary said keys should be ready to pick up first thing Friday morning.

Very straightforward purchase here and it took 11 weeks until they even discussed a date. We're at 12.5 weeks now and really, really hoping to complete next week.

emma and Ecureuil thanks for the details on the length of time from offer accepted - exchange. Brings it all into focus. I suppose we're chain free (we're in rented and our buyers are staying with family) so maybe it will speed things up (who knows!). We're on searches now. Fingers crossed. I'd like a chat about exchange soon but like most people here, the solicitors won't say a peep until they are happy with searches.

Radon, I've never come across that before, is it a high risk area? Hoping it's a very low risk thing though for you muss.

Radon, I've never come across that before, is it a high risk area? Hoping it's a very low risk thing though for you muss.

Radon is a colourless, odourless radioactive gas. It is formed by the radioactive decay of the small amounts of uranium that occur naturally in all rocks and soils (www.ukradon.org/information/whatisradon). The new place is in a 1-5% chance area (I think). I know it can be rectified but still scary thinking about it. Hope our mortgage company doesn't use this as an excuse not to lend to us.

For those on the verge of exchange- hurrah! Well done!