Ideas - chain collapses on day of house exchange

[mluton]

Does that include all disembursments?

Lost me ??:confused:

[VRStu]

The solicitor will have to have searches done, land registry fees etc on your behalf, these are charged over and above the Solicitor fee. These are called disembursments.

[ScoobyChris]

Also worth checking if that's a price-per-job or a rough estimate. My solicitor had a fixed fee (which varied between freehold and leasehold properties) so any additional letters, etc he wrote were not charged.

The downside was that he was 2 counties away though and it's good to be able to go and visit a solicitor to "encourage" them if need be and it also makes signing things much easier....

Chris

[heresmo]

Also worth getting a solicitor in the area as they'll likely know if there area any "issues", eg subsidence or unsatisfactory building issues (meaning knowledge from adjacent properties), flood plains now also.

Re right of way alongside. Never had problems with burglary etc with mine in previous house, but if you have young children who might play in a garden, then beware rubbish (some you really woudn't want to find) tossed over any fence into your garden.

The thing is, that if you are happy with a house, you'll stay happy for all it's faults, and if you're not you won't be.

Best wishes

Mo

[mluton]

We have withdrawn our offer on the house.

Just to have another look at the market.

[heresmo]

It's interesting that sometimes when properties fall through, for one reason or another, a different property is found which turns out to be much more acceptable.

It's November now, a notorious time for selling so you could have your pick (meaning negotiate on price) of other properties on the market. There are several reasons why the buyers' market goes quiet, e.g. peeps hard up after summer hol, peeps not wanting moving hassle running up to Xmas, and properties are displayed in grey half light, so never look as good as in full sunshine.

Re the latter, it makes a huge difference IMO where the sun rises and sets re a house (North/South would be front room or back garden, whereas East/West probs mean very little sun, meaning natural light, unless detached with all round windows.)

Only you two will know if you've made the right decision. As someone else said, how easy will your house be to sell on? Looking at turnover (how many bought and sold) and recent comparative pricing for an area with others in the locale is something else to look at. A Yuppie property (if you'll excuse the expression) will often turn over quite quickly, whereas a family house, one would expect much longer stays.

Good luck. I'd have thought you should be OK sitting for a while, since being a quiet time, it's unlikely that prices will be going up by the minute, but please don't take my word for that. Different estate agents' views will give you a good handle on what's going on. Ask them to show you what they've sold in an area in the last six months. If none, find a different house, or a different agent.

It is awfully scary making a major commitment, so hope you'll find somewhere soon that you have full confidence in

Best

Mo

[gadgetman]

We have withdrawn our offer on the house.

Just to have another look at the market.

Any reason?

[mluton]

Any reason?

Wasnt 100% happy having an alley at the side of the property.

[gadgetman]

Wasnt 100% happy having an alley at the side of the property.

Sorry to sound harsh, and having had it happen to me, why put in an offer then?

The vendor would have used your offer so they could have made an offer on somewhere.

It's reasons like this people, like me, who've sold wish we had the same system as Scotland. You'd have been stuffed then!

Please think long and hard before making an offer on somewhere. When you're on the receiving end you'll appreciate it more. You can also quickly get a bad rep with the agents, making the negotiating against you if you make another offer and/or pull the stunt with the same agent.

[KenONeill]

Actually not the case. One of my friends had a buyer pull out 3 days before completion, saddling them with a fairly massive bridging loan for about 3 months.

[mluton]

Sorry to sound harsh, and having had it happen to me, why put in an offer then?

The vendor would have used your offer so they could have made an offer on somewhere.

It's reasons like this people, like me, who've sold wish we had the same system as Scotland. You'd have been stuffed then!

Please think long and hard before making an offer on somewhere. When you're on the receiving end you'll appreciate it more. You can also quickly get a bad rep with the agents, making the negotiating against you if you make another offer and/or pull the stunt with the same agent.

I did feel really bad and i know where you are coming from, luckily the seller hadnt put in an offer on anywhere yet.

[gadgetman]

I did feel really bad and i know where you are coming from, luckily the seller hadnt put in an offer on anywhere yet.

It's easy to rush in.

Remember 2nd viewing, and checking the area's your looking at at several times of the day & night - esp at weekends.

[mluton]

We have now bought a house.

So the stressing starts again. LOL

[flinty]

I'm in a similar position. Just found the place that me and the mrs like, had an offer accepted on a place. Have been looking for over a year, when people were still hanging on for silly money. Found the first one that has a double bedroom with enough room for a bed AND a wardrobe . Its a reposession that needs some work, all stuff I can do myself (I'm a heating engineer) and got for 20K less than an identical one in good condition went for the previous week.

Still am utterly bricking it. Are we doing the right thing???? :(

[JMK2]

Still am utterly bricking it. Are we doing the right thing???? :(

Ask yourself these questions.

1. Can you afford it?

2. If the property market slumps (which it is) can you live with the place for a few years?

3. Payment wise (in the long run) will it work out cheaper than renting?

1. Is MOST important. If you are stretching too far walk away. Only you know if you are but if people thought like this we may have seen a smaller hike in property prices earlier on.

But still amazes me this thread is still going. We did move in (eventually) in March 2007 and the house was such we could have continued living there for the rest of our lives (3 bed semi). However the prospect of high petrol bills meant it was cheaper to do a part exchange with a major builder for a larger, posher new build house near work (which we can still comfortably afford thanks to a fixed rate mortgage for 10 years) than stay where we were. To put it simply the mortgage was the same as the petrol bill.

That said when the builder changed the part exchange to a chain break 1 week before moving, delaying the move by one month and putting us through extra strain, I do wonder why we did it.

[mluton]

We have now bought a house.

So the stressing starts again. LOL

Just seen my old post, never bought in the end as the credit crunch hit us big time, with mortgages being removed from the market.