Damn!! foiled by my own petardmasona said:Got yah ! You're still in the UK then
Just Depressed
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Yeah, as mentioned b4, the scottish system is good. There's no p*ssing around, but the only drawback is the "offers over" system, where you have to make an offer over the stated amount, not knowing if your bid will secure the property. But generally, much better than our poxy system.
Chains are really fragile when anybody can have a tantrum and say, "Right! My house is off the market!
The only reason I would ever consider doing that is if a buyer was mucking me about.
My wife sold her flat in Clapham in 99 for 110K. The buyer peed around so much she threatened to take it off the market and put it back on immediately, prices were rising so quick.
In the end, she sold, but what a palaver!
Chains are really fragile when anybody can have a tantrum and say, "Right! My house is off the market!
The only reason I would ever consider doing that is if a buyer was mucking me about.
My wife sold her flat in Clapham in 99 for 110K. The buyer peed around so much she threatened to take it off the market and put it back on immediately, prices were rising so quick.
In the end, she sold, but what a palaver!
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We've moved 10 times in the past 26 years, talk about suckers for punishment! To be honest most of the time its been OK, couple of times we have been messed around by smart alec estate agents but no real horror stories ( but they would still be on my hit list along with pension fund managers and lawyers if I achieved World domination !) The last move was four months ago and to be honest it was too much hard work so think this will be the last for a long looooong time.
The thing about making sellers have an up to date survey is not to my mind a realistic idea, as surely a survey is like an MOT on a car - it states that the vehicle/house is up to scratch on the day it was seen. Three or six months down the line anything could have happened to change that.
I guess its all down to " let the buyer beware ", but an expensive lesson if it goes wrong.
The thing about making sellers have an up to date survey is not to my mind a realistic idea, as surely a survey is like an MOT on a car - it states that the vehicle/house is up to scratch on the day it was seen. Three or six months down the line anything could have happened to change that.
I guess its all down to " let the buyer beware ", but an expensive lesson if it goes wrong.
My parents had a situation selling their old house: the buyers (a newlywed couple) claimed to be first time buyers, presumably to make their offer look more favourable. Turns out this was the mother of all fibs as they were BOTH selling, so instead of being at the bottom of the chain my parents ended up with TWO chains underneath them.
My dad was so peaved he was all set to take everything that could be easily removed with a screwdriver (doors, electrical fittings, fuses from FCUs!).
My dad was so peaved he was all set to take everything that could be easily removed with a screwdriver (doors, electrical fittings, fuses from FCUs!).
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Igorian
A better mechanism would be
Owner decides he wants to sell. He should then approach a solicitor who should sell him a 'sellers pack' This should include a survey and all the searches. I think the seller should have to satisfy the buyer that his house is in good condition and that the motorway isn't going to run through the livingroom
Buyer decides he wants a house and so approaches lender to get an offer in principle.
Buyer approaches seller. If he likes the house and wants to proceed, the seller should give him a copy of the searches and survey (free). The buyer instructs his solicitor to check the documents (standard fee). If survey or searches are bad, only a small fee has been lost. If things are ok, the solicitor instructs the lender, who can confirm the mortgage. A binding offer can be made.
Not too sure if this is what happens in Scotland, but would make the process much less painful.
Owner decides he wants to sell. He should then approach a solicitor who should sell him a 'sellers pack' This should include a survey and all the searches. I think the seller should have to satisfy the buyer that his house is in good condition and that the motorway isn't going to run through the livingroom
Buyer decides he wants a house and so approaches lender to get an offer in principle.
Buyer approaches seller. If he likes the house and wants to proceed, the seller should give him a copy of the searches and survey (free). The buyer instructs his solicitor to check the documents (standard fee). If survey or searches are bad, only a small fee has been lost. If things are ok, the solicitor instructs the lender, who can confirm the mortgage. A binding offer can be made.
Not too sure if this is what happens in Scotland, but would make the process much less painful.
Just been listening to a bit on the radio about the Scottish system. There are some good points such as no gazumping etc but the downside is that each buyer has to get a survey done (prices quoted at £700 - £1000) which can then be sold on by the solicitor to other buyers (or they get their own surveys done). Also a "good" estate agent will encourage people to put higher bids in than perhaps the property is worth.
I think I'm in favour of the seller getting a survey pack together - it would all be wrapped up in the price of the house anyway.
I'll probably be moving again in a few years time and the propsect does not exactly fill me with delight.
I think I'm in favour of the seller getting a survey pack together - it would all be wrapped up in the price of the house anyway.
I'll probably be moving again in a few years time and the propsect does not exactly fill me with delight.
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Liz,
I've done 8 moves in 14 years. From Golders Green to various bits of Manchester/Stockport......
My wife says she'd like to stay put now for the next 40....tend to agree with her, but not openly....!!
I've done 8 moves in 14 years. From Golders Green to various bits of Manchester/Stockport......
My wife says she'd like to stay put now for the next 40....tend to agree with her, but not openly....!!
2
2scoops0406
Yeah, happened to me on exchange day too..... BUT as has been said, every cloud etc... got a far better place eventually.
The law is changing in respect of surveys and it will be up to the seller in the future to have a survey to show to a prospective buyer and already the seller has to complete a form from the estate agents declaring several things are ok such as the electrics, whether there has been subsidence etc.
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