It was a long and stressfull process. In October 2006 I accepted an offer from a lovely first time buyer with a huge £40 grand deposit on my one bedroom flat in Bristol. He offered £123, 500. He came round with his parents, we all got on, it seemed like it would be lovely.
There were a few delays in the run up to Christmas. His survey came through fine and he seemed happy and then my mortgage company lost my title deeds which took a few weeks to sort out. All the time my solicitors secretary was not giving me effective deadlines and kept saying that I might exchange next week, and next week.
Then Christmas got in the way. I moved all my possessions to Edinburgh being optimistic and believing it could not take much longer. Cos the title deeds went missing my solicitor had to take out a couple of indemnity policies in case the flats had been converted before 1983 (or something, they hadn't been but because we didn't have the deeds we couldn't prove it) there was another one which was to do with the flat being on parish land and future owners needing to be protected in case the church wanted money for repairs.
Then..... my buyers solicitors started coming back with queries..... They sent about six rounds of queries through. Each one was responded to by my solicitor in three days and faxed back. My buyers solicitor would then take a week to "put the details on the system" and then around a week to respond. All this took ages and they were asking stupid things like change the building insurance arrangement and what is this space on the plans (it was a hallway - why?)
So it all took aged and we all got fed up. Eventually my solicitor suggested that we say they have to buy the flat as it is or pull out. They sent a very stroppy letter and said they would report to the mortgage company and they were unhappy we would not do everything they asked.
My buyers mortgage application got rejected. Apparently it came down to the fact that my downstairs neightbours (there are two flats in the property) patio was not registered with the land registry. Not sure why this causes a problem for me but there you go. They also didn't like the fact that the buildings insurance has joint liability so both flats insure for 50% of the rebuild value.
Interestingly the same mortgage company originally accepted my mortgage when I bought the place so I can only assume that the report my buyers solicitor sent was so strongly worded that the mortgage company were scared off.
That was the end of that. Four months, lots of stress and nowt to show for it. Also I had moved out of my flat and packed in my job. Luckily I have been lent lots of furniture and got a three month contract to tide me over. I wonder what will happen this time...?
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