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House / Flat market at the moment - anyone know whats going on?


Pabs

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  • 1 month later...

well people, fingers crossed we exchange this week :)

 

Got back from viewing the house again this morning - must say we both LOVE it to bits - AND the garage should be big enough to house a supra ;) - I know it's sad but the door is 7ft wide, and internal width is 100" at it's smallest point (pillar on one side), so seeing that the supra is around 72", should give me enough room to park to one side and still be able to get out :D

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...I know it's sad but the door is 7ft wide, and internal width is 100" at it's smallest point (pillar on one side), so seeing that the supra is around 72", should give me enough room to park to one side and still be able to get out :D

what's sad about getting out of your car without wishing you had an aerotop or without doing a Dukes of Hazzard impersonation?;):cool:

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what's sad about getting out of your car without wishing you had an aerotop or without doing a Dukes of Hazzard impersonation?;):cool:

 

I do still want an aerotop... but it would be a pain having to put the roof on/off just to get in and out :(

 

But Dukes of Hazzard - good thinking that man :)

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  • 3 weeks later...

Well folks, STILL not exchanged :(

 

Our buyer has been messing us about for 3 weeks now - we should have exchanged ages ago and still nothing - we've got about 1 week left until the sh*t hits the fan, and people in the chain seriously consider pulling out...

 

Sodding annoying really, as we keep getting told he is waiting for his Mortgage offer - this is the ONLY thing left (apart from mortgage deeds) and it's worrying the hell out of us because if he doesn't get offered what he needs we're screwed :(

 

I'll be pestering estate agents and solicitors AGAIN on monday, but I'm getting fed up that neither of these are being pro-active and chasing/informing us. I feel letters of complaint going to both once/if we move.

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The market has totally frozen now, and nobody knows if this was the peak and it's downhill (or flat) for the forseeable future.

 

So buyers have the upper hand most likely nowadays.

 

If you expected prices to drop in the next few months, you'd be dragging your feet as well if you were a buyer.

Do your buyers also have something to sell, or are they first-timers?

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first-time buyers - but they can't pull out now.... SOOOO CLOSE!

 

We've got the dates for completion too, although these are not fixed until we exchange :(

 

We've been waiting for about 3 weeks for the ID to reach the mortgage broker, and the mortgage offer to be given. Everything else is done - deposit moneys are ready too.

 

I just hope that it'll be done this week, as the people we're buying from return from holiday a couple of days later, and if we haven't exchanged by then they will not be happy.

 

:(

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Right, well for those who are actually reading this thread, exchange is either going to happen tomorrow or friday :)

 

Our buyer is getting 110% mortgage :O which is bad news for us - he has no deposit, which is the opposite of what we were told before - he was supposed to be giving his fee's etc in deposit.

 

Anyway, left us in an awkward position, the developers at the end of the chain won't exchange on £0 deposit - so WE have to put money down, but not actually get any from our buyer.

 

Means if it falls through, we have to go through small-claims court etc to get money from him.

 

Does anyone know anything about this, and care to shed some light? We're in a tight spot - exchange/complete on sameday is not an option for the rest of the chain, so I don't think we've got a choice???

 

Thx in advance!

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Right, well for those who are actually reading this thread, exchange is either going to happen tomorrow or friday :)

 

Our buyer is getting 110% mortgage :O which is bad news for us - he has no deposit, which is the opposite of what we were told before - he was supposed to be giving his fee's etc in deposit.

 

Anyway, left us in an awkward position, the developers at the end of the chain won't exchange on £0 deposit - so WE have to put money down, but not actually get any from our buyer.

 

Means if it falls through, we have to go through small-claims court etc to get money from him.

 

Does anyone know anything about this, and care to shed some light? We're in a tight spot - exchange/complete on sameday is not an option for the rest of the chain, so I don't think we've got a choice???

 

Thx in advance!

 

I'm sure the solicitor can get some sort of indemnity arranged that covers your loss should your purchases fail to complete. ask your solicitor they must do it all the time as 100% mortgages are very common these days.

 

in addition find out what the minimum deposit the builder will accept rather than giving them the usual 10%. They might only want 1 or 2 grand to secure it.

 

good luck matey.

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