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Thread: When to start fixing dates????

  1. #1
    Join Date
    Aug 2010
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    Default When to start fixing dates????

    The sold sign went up last week and now im having sleepless nights The Buyers survey was done on Monday. when did you guys start booking flights, movers, dogs etc?? Folk I talk to just seem to say "it's not sold until they sign on the dotted line" but the buyers have nothing to sell. I have most quotes in and a good idea who and what to use, should I just go for it??? Feeling kind of useless at the moment, Any advice please

  2. #2
    Join Date
    Jun 2009
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    Not what you want to hear, but we accepted an offer from a no "chain cash buyer" who could exchange in 28 days in April. We've just changed agent as we've still not sold 6 months later. So I'm stuck over here in NZ and my wife's back in the UK. It really isn't sold until exchange.

    We'd said that the day after exchange then all hell would break loose. Notices handed into work, shippers booked, flights arranged.

    Get things planned, put a list together, all the phone numbers and order sorted, tasks split between you if you can. But unless you can afford to be over here and leave the house unsold in the UK then I personally would caution against doing anything until afer exchange.

  3. #3
    Join Date
    May 2008
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    Wellington
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    I don't understand the process in the UK, and why it takes soooooo long! Is 'exchanging contracts' the same as 'going unconditional' in NZ?

  4. #4
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    Yep. But in the Uk then the convention is to take the house off the market once you agree a sale 'subject to contract' which means that there's no pressure to do things quickly. Also people tend not to move twice or put things into storage, so a full 'chain' is needed where the first person has nowhere to sell, then the second person has a house, they have a buyer, and so on until the last people are moving abroad or into a rental (basically not buying). Then the exchange happens simultaneously. So that means 5-10 solicitors all doing their thing on the same day. If anyone gets cold feet at any point in the 6 weeks before the agreed sale and the exchange then it's back to square one for the whole chain.

  5. #5
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    Quote Originally Posted by Duncan74 View Post
    Yep. But in the Uk then the convention is to take the house off the market once you agree a sale 'subject to contract' which means that there's no pressure to do things quickly. Also people tend not to move twice or put things into storage, so a full 'chain' is needed where the first person has nowhere to sell, then the second person has a house, they have a buyer, and so on until the last people are moving abroad or into a rental (basically not buying). Then the exchange happens simultaneously. So that means 5-10 solicitors all doing their thing on the same day. If anyone gets cold feet at any point in the 6 weeks before the agreed sale and the exchange then it's back to square one for the whole chain.
    We have 10 working days (5 in the standard REINZ contract) to remove any conditions. On the day we go unconditional, the "Sold" sign goes up and there's no going back, you can't pull out.

  6. #6
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    Yes, thank you for pointing out how much better the system is over here. Indeed you are only the 984th person to do that and miraculously (and honestly) then only the third today, which is a great comfort to me. I do look forward to finding out some day, although it may be a while as due to some to$$er bankers and the useless sale system in the UK then we are desparately hoping to jettison the house and bring zero equity over with us after 15 years of 80 hour weeks.

    Seriously, not upset, but needed a rant

  7. #7
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    Quote Originally Posted by Duncan74 View Post
    Yes, thank you for pointing out how much better the system is over here. Indeed you are only the 984th person to do that and miraculously (and honestly) then only the third today, which is a great comfort to me. I do look forward to finding out some day, although it may be a while as due to some to$$er bankers and the useless sale system in the UK then we are desparately hoping to jettison the house and bring zero equity over with us after 15 years of 80 hour weeks.

    Seriously, not upset, but needed a rant
    I'm so sorry D!

    I never owned a house in the UK, just because I didn't have the downpayment, but could have picked up a brick terrace house (3-bed 1-bath) in the northern suburbs of Northampton for a mere 30K. Sob!!

    Actually I probably would have bought a houseboat instead...

  8. #8
    Join Date
    Mar 2007
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    was Oxford nr Chch, NZ now UK
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    Quote Originally Posted by frodo View Post
    The sold sign went up last week and now im having sleepless nights The Buyers survey was done on Monday. when did you guys start booking flights, movers, dogs etc?? Folk I talk to just seem to say "it's not sold until they sign on the dotted line" but the buyers have nothing to sell. I have most quotes in and a good idea who and what to use, should I just go for it??? Feeling kind of useless at the moment, Any advice please
    In answer to your question - we had a date in mind as I had a job to go to. The date and flights were set well in advance and long before the house was sold. We hgavce the agent and solicitors the date we needed to settle by and they all worked towards that. It was touch and go right until the end and until contracts were exchanged we were panicking. It would be good to have a back up plan in case things don't go to the date you set. Not sure but I think if you book flights last minute they can be more expensive.

  9. #9
    Join Date
    Aug 2010
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    Dunedin NZ
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    We are working to complete around the 1st of December, I know flights SHOOT up after the 10th and the longer I leave it the higher they will be soon!!
    I do wish the house selling/buying process was the same as NZ, your left feeling very vunerable over here til the last minute

  10. #10
    Join Date
    Jun 2009
    Location
    Auckland NZ
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    Hi - we booked our flights for 13th Nov 3 weeks ago and finalised arrangements with shippers for home and dog last week. We are exchanging contracts on the house this week and have agreed a completion date with buyers solicitors for 29th Oct. However understand that this is still taking a risk...... We have allowed 2 weeks from completion to flights - just in case and will be staying with various family and friends!

    Have faith........

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