Thursday, 7 June 2012

Buying A Repossession - Changing The Locks And Resetting The Alarm

The problem with buying a repossession is that generally the tenants will know they are due for eviction.  You can tell that the general maintenance in the house we bought had been allowed to slip, even though it is only seven years old.  When buying a repossession, or any house for that matter, it is worthwhile remembering you don't know who has a copy of they keys. Add to the fact that a repossession was probably involuntary and the ex tenants may not be happy about it. It may be a pessimistic view of people, but they are your possessions.

Utilities And The First Steps Of Owning A Repossession House

Today has been absolutely crazy with everything that has been going on. It is really too much for a single post so I will be breaking things down into the following posts over the next few days!  I hope that one day this helps someone else buying a repossession when they do it. If not, it will be a great reminder for us when we think about moving.

So, here are what we sorted today:
  • Security: Changing The Locks And Resetting The Alarm
  • Insurance: Getting The Property Insured (Building and Contents)
  • Utilities: Gas and Electric
  • Utilities: Water
  • Being Prepared - Essentials For Moving In And First Steps
  • Being Safe - Gas and Electric Tests
There was a couple of things we need to get sorted as well that we didn't manage to get done which need to be addresses tomorrow.
  • Council Tax and The Electoral Roll
  •  Meter Readings For Utilities
This is our first move, so anyone with anything to add please comment below.

Wednesday, 6 June 2012

Taking the P155

I will admit, I've not ever used a fax machine, but I'm sure it doesn't take an hour and a half to send a fax! Now going to ring the solicitors and have a word! They will call me back, surprise!

**UPDATE** Spoken to the Estate Agent who is in contact with the sellers solicitor who have stated they are in talks with the sellers solicitors and it will be done very shortly! This was 40 minutes ago!

**UPDATE** Still no update. Contemplating telling them to shove it up their arses! Seen another place that isn't a repo and us chain free also. Could we pull out at this stage? Risky I know but this is a joke. It's sending a fax!

*Update* Just received call from mortgage adviser, underwriter has confirmed exchange today and completion Friday. Just need solicitors to do the same!

In the end, we exchanged contracts at 10 to 5. Turns out the repossession company then had to get confirmation from the bank the money was owed to. This took many attempts but was confirm at around half past four and exchange in the end happened. Completion Friday morning!

Tuesday, 5 June 2012

And So Sets In The Expectation

The bank holiday has flown by and for most the holidays have come to and end and so comes the monotony of work. Due to the fact that we thought completion would have happened by now, I have the rest of the week off. So, tomorrow brings the people involved with the house sales back to their desks and the pile of work that somewhere has what needs to be done for our completion.  Even with all the let downs that have happened to this point, I am assured the only thing we are waiting on is from the sellers solicitors and so... it will happen tomorrow.  I have to say I am getting a bit excited by this prospect, all I am worrying about is getting that completion date in the diary.

Monday, 4 June 2012

Retail.... Distraction

I was toying with the idea of calling this post "retail therapy", but there are two things wrong here. One, it was not therapy, I am not running from anything and think that buying things is going to make it better and two... I am not a middle aged mum trying to be "hip". This trip was simply to scout out things that we needed for the house and in all honesty it did serve as a distraction for day 1 of the 2 day bank holiday, where nothing will progress.

Sunday, 3 June 2012

4 Day Weekend - Relaxing... For Most

I'm not going to start by saying the 4 day weekend hasn't been welcomed by most, myself included. In fact I, like many, have taken advantage of the 4 days off, booked 3 "standard" work days off and reaped the rewards of a 9 day holiday with a Jubilee 66% extra free! Fantastic!

Friday, 1 June 2012

All Blockbusters Need A Twist!

Phone starts ringing at 17:25! Surely it's not the solicitors... Surely? But... If its not, I have no idea who it could be!

So I answer and it was the solicitor. The lender is fine with the debit card bit now, but we can't exchange. We have been waiting all day on a fax from the sellers solicitor and it's not getting there today.

Our solicitor will try again Monday, but more than likely they will be enjoying the festivities. I have been advised we may get the keys Thursday. May and advised being the optimum words.

I'm starting to think that solicitors are useless as a whole. Not just ours!