Demitri_C Posted January 18, 2021 Share Posted January 18, 2021 (edited) 14 minutes ago, AlwaysAVFC said: And just when I thought we were nearly there, our sellers solicitor has gone back to the land registry for something! that's any chance of Friday out the window. I've used it as a reason to put pressure on but at this rate it's going to be an issue anyway with school applications. The deadline was last Friday, but being able to make amendments up towards the end of Feb. Didnt you agree a completion date on exchange? Always agree a completion date before you exchange If you do legally they HAVE to be out by that date or you can sue them. Edited January 18, 2021 by Demitri_C Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted January 18, 2021 Share Posted January 18, 2021 8 minutes ago, Demitri_C said: Didnt you agree a completion date on exchange? Always agree a completion date before you exchange If you do legally they HAVE to be out by that date or you can sue them. No, we've not exchanged yet. Link to comment Share on other sites More sharing options...
Genie Posted January 18, 2021 Share Posted January 18, 2021 3 hours ago, TrentVilla said: Had a quote for it in last lockdown, 4K and and I’ve not got a big garden. So no... would like to though as be great for my boys to play football on. My lad keeps nagging for it so he can play football outside all year. I don’t have that sort of money for plastic grass though unfortunately. Link to comment Share on other sites More sharing options...
TrentVilla Posted January 18, 2021 Moderator Share Posted January 18, 2021 46 minutes ago, Demitri_C said: 4k thats crazy!! I thought be half of that tops. Did you shop around? No bought a watch instead! Will go back to it at some point though. My postcode tends to up the price of a quote for anything so you might get a better quote. Link to comment Share on other sites More sharing options...
TrentVilla Posted January 18, 2021 Moderator Share Posted January 18, 2021 36 minutes ago, Genie said: My lad keeps nagging for it so he can play football outside all year. I don’t have that sort of money for plastic grass though unfortunately. That’s the driver for me and with my lads both being around academies so really should do it. Link to comment Share on other sites More sharing options...
darrenm Posted January 18, 2021 Share Posted January 18, 2021 For our house sale, our buyers had a survey. The surveyor said 'yep, all good, your electric board is the older type which is still fine but could probably do with updating' to us when he was here. The buyers then got their solicitor to ask our solicitor to ask us to "rectify" "the electric board needs replacing" and "a drainage test needs to be done" To keep things smooth we've had the board updated to the latest with surge protection, RCDs, etc. but we were confused with the drainage test. I couldn't find anything on the internet about it in relation to house sales. It turns out it's a more common thing now and is just another survey where they check for pipe damage in the drains and report where each one feeds into. Has anyone else had one or know anything more about these? Neither the estate agent nor solicitor had much of an idea either. The buyers have now arranged it themselves so they're paying for it. Link to comment Share on other sites More sharing options...
stuart_75 Posted January 18, 2021 Share Posted January 18, 2021 I'm ready to complete next week but currently arguing the toss of a extended warranty on the gas central heating boiler that the vendors seem to be incapable of transferring in to my name (the T&C's say you can do this). Link to comment Share on other sites More sharing options...
villakram Posted January 18, 2021 Share Posted January 18, 2021 On 16/01/2021 at 11:46, Davkaus said: For a slightly bigger picture: Average weekly earnings in 1965 was £13 a week, or 676 a year, so the average house was about 5 years average earnings. Adjusted for inflation it's £13,200. Current average weekly earnings are about £500 a week, or 26,0000, so wages have gone up way more than inflation, yet the average house is now about 10 years average earnings. Have you included hedonic adjustments and removed oil and who knows what else from the calculation. Real inflation is much more accurately reflected in the price of real assets than the "official" numbers from any government. Link to comment Share on other sites More sharing options...
Davkaus Posted January 18, 2021 Share Posted January 18, 2021 23 minutes ago, villakram said: Have you included hedonic adjustments and removed oil and who knows what else from the calculation. Real inflation is much more accurately reflected in the price of real assets than the "official" numbers from any government. You're one of those that consider hedonistic adjustments are you? Well, that's one school of thought, and I'm not going to be presumptuous enough to tell you that it's completely without merit, it certainly has some applications, but that's not what I'm going by. What I've done, and I think you'll see the merits of this methodology, is I've chucked some generic terms about inflation in a certain year in to Google, then used the first numbers that came back. Link to comment Share on other sites More sharing options...
villakram Posted January 19, 2021 Share Posted January 19, 2021 21 hours ago, Davkaus said: You're one of those that consider hedonistic adjustments are you? Well, that's one school of thought, and I'm not going to be presumptuous enough to tell you that it's completely without merit, it certainly has some applications, but that's not what I'm going by. What I've done, and I think you'll see the merits of this methodology, is I've chucked some generic terms about inflation in a certain year in to Google, then used the first numbers that came back. Yes, but the base numbers coming from google are sourced from official stats, which all include these adjustments. This is what happens when governments link their commitments to the level of inflation. Link to comment Share on other sites More sharing options...
Davkaus Posted January 19, 2021 Share Posted January 19, 2021 47 minutes ago, villakram said: Yes, but the base numbers coming from google are sourced from official stats, which all include these adjustments. This is what happens when governments link their commitments to the level of inflation. I was being funny 1 Link to comment Share on other sites More sharing options...
TrentVilla Posted January 19, 2021 Moderator Share Posted January 19, 2021 2 hours ago, Davkaus said: I was being funny Erm...... 1 Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted January 19, 2021 Share Posted January 19, 2021 I seem a million miles away from exchanging and completing now. It seems like every update, we take 2 steps backwards. Just most pissed off that last Thursday i was being asked whether I would be ok to look to complete on Friday. Now next Friday doesn't look possible let alone this Friday. Link to comment Share on other sites More sharing options...
Genie Posted January 19, 2021 Share Posted January 19, 2021 (edited) 6 minutes ago, AlwaysAVFC said: I seem a million miles away from exchanging and completing now. It seems like every update, we take 2 steps backwards. Just most pissed off that last Thursday i was being asked whether I would be ok to look to complete on Friday. Now next Friday doesn't look possible let alone this Friday. It’s the shittest system in the world. By the time you finally complete you’ve truly fed up with the whole thing and it stopped being exciting a long time ago. Edited January 19, 2021 by Genie Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted January 19, 2021 Share Posted January 19, 2021 10 minutes ago, Genie said: It’s the shittest system in the world. By the time you finally complete you’ve truly fed up with the whole thing and it stopped being exciting a long time ago. I think what hasn't helped is my brother works for the estate agent. He's not directly involved at all but I just think in their attempts to be helpful knowing who I am, they've updated me unnecessarily, then the next day appears to contradict what was said previously. Wasn't happy today when I was told there might be a delay once we do have a completion date as top of the chain have a help to buy ISA that they need to withdraw. Baring in mind I had one, which I sorted at the end of November at the request of my solicitor as it was close. I let them know I want happy, and was told it was because their bank need to know a completion date before the bonus can be applied for. This wasn't a requirement if mine. Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted January 22, 2021 Share Posted January 22, 2021 Hopefully exchanging contracts today The completion date has already changed once this morning but as close we've been so far. 1 Link to comment Share on other sites More sharing options...
Seat68 Posted January 22, 2021 Share Posted January 22, 2021 This leads me to a question. Those final stages of a house purchase, is it exchange, complete, move in? If so what the timescales in average between the latter stages. Link to comment Share on other sites More sharing options...
Genie Posted January 22, 2021 Share Posted January 22, 2021 Just now, Seat68 said: This leads me to a question. Those final stages of a house purchase, is it exchange, complete, move in? If so what the timescales in average between the latter stages. Usually exchange 1 week before completing / moving in same day. It’s possible to exchange/complete/move on the same day but risky. With our purchase (new build) they stipulated a 2 week window between exchange and completion. 1 Link to comment Share on other sites More sharing options...
Seat68 Posted January 22, 2021 Share Posted January 22, 2021 Just now, Genie said: Usually exchange 1 week before completing / moving in same day. It’s possible to exchange/complete/move on the same day but risky. With our purchase (new build) they stipulated a 2 week window between exchange and completion. So when a solicitor says complete, they mean move day. Link to comment Share on other sites More sharing options...
Genie Posted January 22, 2021 Share Posted January 22, 2021 6 minutes ago, Seat68 said: So when a solicitor says complete, they mean move day. Yes, vast majority of the time you complete and move on the same day. Obviously you don’t have to move in right away (for example if you want to have work done first) and you can stay where you are for a bit longer. Not usually possible if you’ve sold the house you’re in. The day of completion the solicitors will be talking to each other and moving the money to where it needs to be. If there’s a long chain it will take several hours to get the thumbs up from everybody. Once the money is all in place for everyone in the chain then solicitor will call you to let you know. They’ll usually call the estate agent too who will release the keys. 1 Link to comment Share on other sites More sharing options...
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