For help, advice and discussion about stuff not related to aviation. Play nice: no religion, no politics and no axe grinding please.
#1782345
Morten wrote:I was able to remortgage the existing house to a 75% interest only mortgage and use the cash thus liberated as a deposit on a second 75% interest only mortgage on a new house, thus enabling me to be a cash buyer.


Isn't a 'cash buyer' someone who turns up with the cash to buy the property - no need for any mortgage at all? What I think you're describing is being a chain-free buyer.
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By Morten
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#1782350
flyingdoug wrote:
Morten wrote:I was able to remortgage the existing house to a 75% interest only mortgage and use the cash thus liberated as a deposit on a second 75% interest only mortgage on a new house, thus enabling me to be a cash buyer.


Isn't a 'cash buyer' someone who turns up with the cash to buy the property - no need for any mortgage at all? What I think you're describing is being a chain-free buyer.


Oops. Of course. Corrected. Logic still holds. :)
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#1968289
And things have not improved any in the interim.

There's cash buyers and there's cash buyers. As a buyer with actual quids in the bank we were being overlooked infavour of people who's mortgage fell over at the last minute.........
Just found out that an ex-rental flat we have on the market received an offer that we were never told about. The girl who took it left the agency and just didn't bother. New manager comes in and goes through the files............we are furious because it wasn't a great offer but empty property costs a fortune to keep now and we would certainly have engaged with the prospective buyer. Now have another offer (same amount) and the agent seems unable to deal with a bit of haggling.
The market is pants right now (unless you are giving stuff away) and attitudes need to change or we will have a market that's at a total standstill.

Having said all that, there are still some gems out there. Tomorrow we complete on a house that we first saw at Christmas 2021. The story is long, complicated and sad but it all worked (eventually) because of the agent. She's definitely getting a bottle of fizz next week.
I'm also dealing with an agent on the south coast to sell a flat as an executor. Totally old-school; no contract or agreement until he got a decent offer in and then just an email to confirm his percentage. Everything is crossed.
#1968293
In the last hour my niece has text me a copy of her estate agent's reply to her complaint. Bottom line, it's £1000 off without haggling. The error, they overlooked an offer of several thousand over the offer my niece accepted (I had advised to tell them there were getting nothing).

Image

At the end of March I wrote to our estate agent advising I was prepared to pay £2200 less than initially agreed and subsequently invoiced. There was no argument, such was their failings they agreed to the reduction of £2200. I still believe we paid too much.

Unless people stand up to them (and others) the service will continue to be substandard! :twisted:
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#1968381
Don't even start me on them.........

:evil: :evil: :evil:

Sat arguing a £1,000 retention relating to a management company that were not even in place when exchange occurred. They now say the retention can be held for 2 years.

Scotland...

Och Aye - Yer happy with the price

Aye

3 weeks later, you move in !

The UK is being ripped off by archaic and old fashioned vested interests that will not change - because they don't want to.

4 months to buy a house - total nonsense.
#1968386
Trent772 wrote:Scotland...

Och Aye - Yer happy with the price

Aye

3 weeks later, you move in !

Viewed house 20th April, agreed price with seller there and then and shook on it, solicitors dragged heels (there were a few things to sort, dragging their heels made it worse), fed up prodding and waiting weeks for responses. Contacted the seller yesterday, reached agreement on telephone, virtual hand shake, Missives concluded today (IE it's now a binding contract).

I anticipate a chat re fees quoted vs invoiced. :roll:
#1968421
Local authority searches are out of solicitors' hands. They used to take a week or so but since shirk-from-home became a thing in town halls it's a complete lottery. Plus they won't talk on the phone (kids take precedent y'know) and they lie. I had a very simple one last year that took over five weeks, not the five days they promise on their website.

But yea, most solicitors are useless anyway so if you get a good one hang on to them, be loyal, drop in for a random cup of tea and remember a booze hamper for the reception and back office team at Christmas.
#1968426
eltonioni wrote:But yea, most solicitors are useless anyway so if you get a good one hang on to them, be loyal, drop in for a random cup of tea and remember a booze hamper for the reception and back office team at Christmas.

Bloody hell, eltonioni, how often you require the services of a solicitor to warrant such bribery? :lol:

It's not about searches, it's about the time 'stuff' lies in their in tray before anything is done.

Example:

Me: Hello David, It's ben 3 weeks now and the reply to my offer states tomorrow as the deadline for verifying the points raised.

David: Oh does it, let me check. Oh yes, but I don't know why solicitors put dates on. It's annoying, because they don't mean anything.

Me: Yes, I agree. I've bought and sold a few over the years. However, I would like to move to concluding missives ASAP to secure the property.

David: Okay, but we have plenty time until the agreed date of entry.

Me: I appreciate that David, however until the missives are concluded the seller could have a change of heart and I'd like to have it secured; a) so I can make plans to move, and b) so I can stop watching what else is coming on the market in case this falls through.

David: ah, I see your point. Let me just call the seller's solicitor and verify the tomorrow's reply deadline is not an issue.

So, I'm managing the solicitor and no doubt the meter is running for the time I spend doing so. :twisted:

As I said, I anticipate a conversation. The irony is, of course, he's completely oblivious to how I view it. Because he is just following his SOPs. :roll:
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By rikur_
FLYER Club Member  FLYER Club Member
#1968428
The best conveyancing I experienced was (ironically?) using one of the contact-centre style businesses. They worked 6 days per week, website to track status, and just seemed to be working through a well designed workflow. Every time we've used the 'friendly recommended local solicitor' it's been a tedious disappointment.

The last one we used sent a feedback form after the process, so we politely highlighted some of the area for potential improvement. In reply we got a very rude letter describing us as ungrateful, and setting out how busy the poor solicitor had been with other things whilst trying to deal with our case. The response to genuine constructive feedback pretty much summed them up!
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By eltonioni
#1968441
Miscellaneous wrote:Bloody hell, eltonioni, how often you require the services of a solicitor to warrant such bribery? :lol:

Occupational hazard, like a sewage worker being washed down with disinfectant. :D
By riverrock
FLYER Club Member  FLYER Club Member
#1968453
In the small firms, they are their own bosses so no accountability.
In the larger firms, most of the work is dealt with by clerks whose job it is to keep things moving, and only the complex stuff and questions get done by the solicitor. Often means they are more efficient. The loss of secretaries, in the name of cost saving, has also had an impact. In the past it was planned work => solicitor => dictaphone => document => action, done as a team. Now many solicitors seem to skipped the "planned work" part and often write up their own work, so its whoever is shouting loudest.
So there are benefits, for simple things, for going with the large firms who just want to churn through work. The problem with the "good ones" is that there aren't many so they can pick and choose their work - hence @eltonioni's tactics are required!
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By skydriller
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#1968467
Trent772 wrote:Scotland...

Och Aye - Yer happy with the price
Aye
3 weeks later, you move in !


That may be your experience. It certainly wasn't mine in Aberdeen.
Shysters...

Don't get me started... :furious: :guns:

(A while ago now, but it's to this day left a bitter taste of leaving Scotland)
#1968513
Come on @skydriller, that one has been done to death. I seem to recall you acknowledging it was down to an individual and not representative of the Scottish system. :wink:

riverrock wrote:I...hence @eltonioni's tactics are required!

Really? Do you adopt those tactics? :?

BTW, I was looking for you at Glenforsa, did you not make it? :(

Here's my experience of how it works, recently/presently.

They look at the entry date and aim to complete the work by then. If it's 3 weeks, they'll have it done, subject to the searches. If it's 3 months til completion they file it accordingly. Then, as just experienced with sale and purchase (different solicitors); a response from the other party's solicitor doesn't get looked at for a week and by the time it is looked at there has been further correspondence, which hasn't been looked at. So, when the solicitor reports on the initial response they miss the additional information. This has two main consequences. 1) it causes confusion, and 2) it creates work. :twisted:

Lesson, if you're comfortable doing so deal directly with the buyer/seller for negotiations and keep in touch re progress, as it is all too easy to assume the other party is playing silly buggers, when it's apathy on behalf of the solicitors. :D
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By skydriller
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#1968521
Miscellaneous wrote:Come on @skydriller, that one has been done to death.


Oi.......Im sure I said "Don't get me started"... :naughty: