dmukgr
Junior Member
Posts: 1,316
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Post by dmukgr on Feb 22, 2022 18:20:02 GMT
I hope it all works out for you.
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Post by Dougs on Feb 22, 2022 19:29:52 GMT
So I went back and forth on this a lot, it's a great property which they have really looked after, including new boiler and upgraded the underfloor heating. I had a good price initially at 10k under asking, a property underneath (also 2 bed though a little bigger) went for 30k over what I paid. I spent a lot of time looking at the sales data including what the current owners paid 9 years ago. It's a shit thing to do a week before looking to exchange (I only got the development details from the lawyers last week) but I advised I was going to pull out of the sale and apologised for the stress etc. A bit of back and forth and we took another 12k off, mixed emotions, as the sellers have been great (offered furniture for free etc) so feel a bit bad about the stress and financial hit but of course I'm happy with the saving, though filled with trepidation about the noise. My approach will be to go from full time WFH to at least 4 days in the office a week. After several years of home working I really need to be back in the office, free gym and not paying for electricity and heat is OK with me. Plus I will spend 4-6 weeks working from NZ. Noise, dust, parking will all be unbearable but I'm thinking longer term and hoping that in 2-3 years it's all worth it. Good luck dude. Another £12k off is a good deal though, assuming the new development doesn't reduce prices overall.
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Rich
Junior Member
Posts: 1,816
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Post by Rich on Feb 23, 2022 20:56:13 GMT
Sigh. Finally found out today that we didn't get the house. Back to searching...
I hate this.
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Post by BurnoutJunkie on Feb 23, 2022 22:10:03 GMT
So I went back and forth on this a lot, it's a great property which they have really looked after, including new boiler and upgraded the underfloor heating. I had a good price initially at 10k under asking, a property underneath (also 2 bed though a little bigger) went for 30k over what I paid. I spent a lot of time looking at the sales data including what the current owners paid 9 years ago. It's a shit thing to do a week before looking to exchange (I only got the development details from the lawyers last week) but I advised I was going to pull out of the sale and apologised for the stress etc. A bit of back and forth and we took another 12k off, mixed emotions, as the sellers have been great (offered furniture for free etc) so feel a bit bad about the stress and financial hit but of course I'm happy with the saving, though filled with trepidation about the noise. My approach will be to go from full time WFH to at least 4 days in the office a week. After several years of home working I really need to be back in the office, free gym and not paying for electricity and heat is OK with me. Plus I will spend 4-6 weeks working from NZ. Noise, dust, parking will all be unbearable but I'm thinking longer term and hoping that in 2-3 years it's all worth it. Whereabouts is the property?
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Post by muddyfunster on Feb 23, 2022 22:57:47 GMT
So I went back and forth on this a lot, it's a great property which they have really looked after, including new boiler and upgraded the underfloor heating. I had a good price initially at 10k under asking, a property underneath (also 2 bed though a little bigger) went for 30k over what I paid. I spent a lot of time looking at the sales data including what the current owners paid 9 years ago. It's a shit thing to do a week before looking to exchange (I only got the development details from the lawyers last week) but I advised I was going to pull out of the sale and apologised for the stress etc. A bit of back and forth and we took another 12k off, mixed emotions, as the sellers have been great (offered furniture for free etc) so feel a bit bad about the stress and financial hit but of course I'm happy with the saving, though filled with trepidation about the noise. My approach will be to go from full time WFH to at least 4 days in the office a week. After several years of home working I really need to be back in the office, free gym and not paying for electricity and heat is OK with me. Plus I will spend 4-6 weeks working from NZ. Noise, dust, parking will all be unbearable but I'm thinking longer term and hoping that in 2-3 years it's all worth it. Sounds like a plan. Pleased for you. Just a thought but you could spend that £12k on a couple of double or even treble glazed windows on the side that faces the site. Would significantly improve the noise isolation and you'd be adding a bit of value to the property.
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Post by freddiemercurystwin on Feb 24, 2022 2:14:22 GMT
Sigh. Finally found out today that we didn't get the house. Back to searching... I hate this. That sucks for sure, we've all been there. I'm still emotionally traumatised thinking about 'the one that got away' from us in 2011.
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Post by BurnoutJunkie on Feb 26, 2022 20:14:16 GMT
Sigh. Finally found out today that we didn't get the house. Back to searching... I hate this. Keep the faith. It just wasn't meant to be. I was gutted about losing out on one earlier this year. I ended up finding a better one that will require less work...just hoping it doesn't fall through. I'm near the end: got a formal mortgage offer and just waiting for my solicitor to hear back from theirs on a few questions. I'm still trying to keep it real, that it could all fall through for whatever reason.
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Post by Honk If You're Horny? on Mar 2, 2022 16:35:15 GMT
Yikes, getting fucked by the legal team.
Bill from the Solicitors - Our Costs £3,438.00 + Searches £500 + Land registry fee £150 + notice of transfer and charges £120 + certificate of compliance £90 + Deed of covenant £120.
Total to pay £4463.00. It wasn't even a complex sale or a chain.
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Post by Dougs on Mar 2, 2022 17:08:00 GMT
Not including stamp duty I assume...
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Post by Honk If You're Horny? on Mar 2, 2022 17:28:14 GMT
Stamp duty on top.
It's an absurd mix of fees like access to management companies online portal £150, download of documents £50. It all adds up.
I'll use the cheapest online conveyancing I can find next time.
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Post by Zuluhero on Mar 2, 2022 21:34:05 GMT
That sounds like a lot to not have stamp duty. When I got quotes they'd always show the breakdown of the purchase wuth stamp duty a part of it.
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Post by freddiemercurystwin on Mar 2, 2022 21:46:50 GMT
Yikes, getting fucked by the legal team. Bill from the Solicitors - Our Costs £3,438.00 + Searches £500 + Land registry fee £150 + notice of transfer and charges £120 + certificate of compliance £90 + Deed of covenant £120. Total to pay £4463.00. It wasn't even a complex sale or a chain. Is that just for buying or is that for selling a property and buying a property combined? Respectfully you've not said how much the stamp duty is (and don't say if you don't want to) but as I understand it the fees ramp up in tandem with the house sale value as their insurance also ramps up. That said I'll never grasp how they justify their approx £150/hour fees especially as plenty of them seem so incompetent.
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Post by technoish on Mar 2, 2022 23:25:38 GMT
We were £3283 I believe. I may have paid for searches and some other things earlier in the process.
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Post by Honk If You're Horny? on Mar 3, 2022 0:08:58 GMT
I think what has thrown me is the original estimate was closer to £2k.
I've no problem with the service, they were great, very thorough and responsive. I think going through it again they are just charging above the average for a lot of the processes, £282 to confirm bank payments (with unique references) seems absurd to me! There were extra costs because of some weird lease issues as well.
I am also unsure what the legal fee covers given all the legal work seems to be separately charged!
I've emailed them with a few questions so will see if we can get it down a bit.
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H-alphaFox
Junior Member
Buy Kramer Coin now!
Posts: 2,287
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Post by H-alphaFox on Mar 4, 2022 16:36:58 GMT
What does it work out as a percentage? Roughly. Here it's generally between 10-15% in fees, we got hit with about 12-13%
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Post by dfunked on Mar 4, 2022 16:51:04 GMT
I've emailed them with a few questions so will see if we can get it down a bit. They'll probably add time on to your bill for responding to the email
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Post by freddiemercurystwin on Mar 4, 2022 20:36:56 GMT
Ooh a non fixed fee, not a good idea IMO.
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Post by technoish on Mar 4, 2022 21:23:28 GMT
What does it work out as a percentage? Roughly. Here it's generally between 10-15% in fees, we got hit with about 12-13% 10% of the purchase price? No chance! That wld be insane. Maybe 0.3%. Add a wee bit for surveys, a mortgage fee.
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Rich
Junior Member
Posts: 1,816
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Post by Rich on Mar 8, 2022 9:13:15 GMT
Woo! Had an offer accepted last night. Long way to go still, but feels good.
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Post by freddiemercurystwin on Mar 8, 2022 9:53:47 GMT
Now the emotional attachment begins ....
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Post by BurnoutJunkie on Mar 28, 2022 16:21:30 GMT
Hello, friends.
Good news! I've exchanged contracts with the seller this afternoon, hooray! My offer was accepted towards the end of January, so it's been around two months. Should be completing this week.
Totally over the moon. Good luck to those in the same process.
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Post by freddiemercurystwin on Mar 28, 2022 19:13:04 GMT
That's a speedy sale, congrats.
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Post by BurnoutJunkie on Mar 29, 2022 8:16:31 GMT
That's a speedy sale, congrats. Thanks. It helps that I didn’t have anything to sell.
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dmukgr
Junior Member
Posts: 1,316
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Post by dmukgr on Mar 29, 2022 8:36:26 GMT
Of course, but it is one of the quickest sales I've seen over the years.
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Post by dfunked on Mar 29, 2022 9:01:00 GMT
Yeah, that's pretty nippy. We had horrible luck with the vendor in our first purchase. No chain either end so should've been nice and simple, but he was letting his sons live there and just kept delaying things until they moved into his house. Offered in April and finally completed in October. Solicitor fees were ridiculous due to the many months of chasing.
Offered at the beginning of October and very nearly completed before Christmas this time around, but ended up getting delayed to mid Jan.
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Post by snackplissken on Mar 29, 2022 10:51:23 GMT
I hope you gave the solicitor a 5 star review on Google.
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dogbot
Full Member
Posts: 8,738
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Post by dogbot on Mar 29, 2022 10:55:01 GMT
Ours was 5 and a half months last year, which we thought was fairly quick and that was almost entirely because our buyer's solicitor kept asking questions every few weeks. Couldn't ask them all at once, no.
We missed the SDLT deadline and the buyer asked us to pay it for them. We politely mentioned that it was because of their solicitor and invited them to pay our (substantially higher) duty in return as it was down to their end, which ended that conversation.
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Post by BurnoutJunkie on Mar 29, 2022 17:47:46 GMT
Of course, but it is one of the quickest sales I've seen over the years. The sellers needed to complete on their new buiild too, so that helped.
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Post by f00b_inc on Mar 29, 2022 20:21:38 GMT
We just completed last Friday after having an offer accepted end-Nov. We had to find a new buyer in January after an earlier offer on our old place fell through so it feels like we landed on our feet. No chain in either direction meant we managed to push everything through relatively quickly. I've enjoyed nearly a week now of not speaking to any solicitors or estate agents!
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tyke
New Member
Posts: 51
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Post by tyke on Apr 8, 2022 9:24:15 GMT
I'm in an unusual (or maybe not) situation where my wife and I are seperating (all amicable) and she is taking on a new mortgage for our current property and I am buying another property with a new mortgage.
The issue is my mortgage is not valid if its for a second property so my name must be removed from the current property before my solicitor can draw down the mortgage funds to complete the sale. Having just handed in the signed forms to my wifes solicitors I asked how long it would take and although my wifes solicitor wasn't around another one told me via the receptionist that it can take up to six months for the land registry to be updated!
I'm optomistically assuming this is for new registrations and complex changes to be made and not for simply removing a name off the registration.
Anybody got an experience on how long a simple title change is currently taking?
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