Buyers sellers roll call 12

[Bells3032]

New thread. Hopefully the last one for us!!

@MinecraftMother thank you, I have a question;

Our garden has a covenant on it from the 1950’s which says no structures can be built. This was broken by the previous owners (small summer house) and us (small greenhouse). We were unaware of the restriction when we bought 10 years ago as our solicitor at the time missed it.

We found out about this restriction recently from a new solicitor, do we now need to get indemnity insurance before putting our house on the market? Thank you

I saw this thread and it reminded me to try to phone the solicitor to find about time scales - trying to get the call in before tomorrow when on past form everyone will phone me to hustle me.
And DD's car had to go to the garage this week and needs big repairs.

Sorry, another question. For those people who have exchange and completion very close together, with less than 10 working days, how does the solicitor have the time to get the mortgage funds transferred from the bank? TSB are saying they need a minimum of 7 working days?

@Maybenexttime08 we exchanged /completed last week with a gap of 2 days in between.

All of the solicitors requested mortgage funds the week before. We knew what date we wanted to complete, and there was only one thing holding up exchange (ISA funds being released) so the solicitors were confident that exchange would happen and so requested the funds before exchange.

OK - I'm finally ready to join in. I haven't done this for a good decade or so, but I remember it being incredibly stressful!

Quick question - does it make sense to use the solicitor recommended by the vendor's estate agent? Any potential risks I should be aware of?

I get to join today too!

Our house got listed on Rightmove today. It's currently empty as we relocated and currently live in a rented house while we suss out the nee area, so spared the stress of viewings etc at least (although have the stress of paying for 2 houses while it's being sold!).

so our buyers have asked to come and see the house again - no problem with that - but just wondering how often that might happen before exchange etc. ? When we bought this place we didn't see it between putting in our offer and moving in - but we were moving a few hundred miles, this is a local buyer.

I'd quite like to go and do some measuring on the one I'm buying to check what I can fit in (downsizing). Either than or ask the vendor for some measurements that aren't on the floorplan or description.

Progress so far... (Week 1)
Solicitors instructed (us, vendors and purchasers).
Mortgage appointment booked in for 18th.
Survey (on the house we're buying), booked for 8th December.

Need to send some surveys over to the EA. Our house is underpinned (historical, was done before we moved in and no other issues. We've had two extra surveys done over the years just to confirm this and it doesn't effect our insurance). I want to be upfront with the people buying our house. If it puts them off then so be it but hopefully it won't as it's never been a problem for us.

@Simonsaysitschristmas - thank you so much, that makes a lot of sense and helps us move forward!

Just got all forms to solicitors, gas check started yesterday, rest done Sat, epc and electricity check on 23rd. Then we just need to clear if all goes ok.

Just popped back to say hi and hang in in there! We exchanged and completed in 3 days!

We didn't exchange today crossing fingers for tomorrow.

Heard from the EA today.

Our sellers have had their offer accepted on a house with no upward chain. So it's now just us -> seller -> seller's seller. Fingers crossed that's a good sign!

Will call the solicitor tomorrow for their recs on a surveyor for our own homebuyer's survey.

Does anyone know how long Santander are taking to sort out valuations and mortgage offers?

I’m loving buying from a solicitor - she’s so awesome.

6 weeks!!!!!! waiting for the estate management company (we’re freehold fgs) and miscommunication between them, buyers solicitor and my solicitor. The final peace of the puzzle is in place and we may miss our move date of 17 Nov. This has been a long, hard slog and I am losing hope, even with the end in sight.

@Badgerbadger22 we went through a broker and got approved subject to valuation a day or two after applying. Took maybe two to three weeks for the valuation and we got approval the day after the valuation

We might be close to exchange (although will believe it when I see it) but awaiting on our buyer's solicitor giving the ok to our query answers that our solicitor in helpfully did not forward on until 3 days after we sent them. My vendor is getting very stressed because their vendor is pushing them relentlessly it seems. We are looking to complete in early December which given that it's over three weeks away many of the removal companies are already booked up AND this is for a non-Friday! Madness! Shows how busy the market is at the moment.

It's our mortgage that's been a nightmare. 2 days for searches but weeks to even get the mortgage appointment. Luckily the automatic valuation was higher than our offer so at least no waiting for that.

Thanks @Bells3032 it’ll be interesting to see how long they take with us!

2 days for searches is a dream come true. I’m very jealous! I’m in Cornwall so no chance of that happening thanks to Cornwall Council sacking most of the local authority search department

@jujuball funny question but do conveyancers sometimes know “the right people” to push things along? My vendor is absolutely convinced we can get there searches back quicker 😂 somehow!!

I honestly don’t believe her but she’s extremely well connected.

@Badgerbadger22 we went through a broker. Application went in on 22/10, went to the underwriter on 28/10. Our valuation was meant to be 2/12 but thankfully there was a cancellation so that’s now happening next Friday. Our broker tells us it’ll be a few days for them to review after the valuation takes place and then however long for them to review once everything comes back from the underwriters. Currently hoping we’ll have a formal offer by the end of the month 🤞🏻

I’ve been obsessively refreshing this daily

www.santanderforintermediaries.co.uk/submit-and-track-business/our-service-levels/

Oh my gosh @PointyMcguire I am loving that link!! thank you :)

Our valuation has taken place. How long before we hear from the bank? I’m so worried it’ll have been downvalued. The seller is unlikely to budge and we have no extra money as it’s all in the deposit and fees. It’s the largest house on the estate and quite a bit above two recently sold smaller ones (but all 4 bed detached).

@Badgerbadger22 certainly possible! I use a search agent and if I needed one done urgently she can swap appointments about to bump it up the queue, but I wouldn't do it unless desperately necessary...and I definitely wouldn't admit it to a client

Glad things are moving along for you can't believe we're moving out of here on Saturday