The NEW waiting to exchange thread...

Fiesto88 · 20 October 2017 at 8:13PM

chrissie83 wrote: »

I feel like I’m officially ‘allowed’ to be in here now 😀
We accepted an offer on our house almost 2 weeks ago, last week I sorted the mortgage in principle ( or whatever it’s called) & yesterday we had an offer on the house we want accepted. We have a FTB & are buying an empty chain free house so the estate agent asked if completing before Christmas would be ok. Although reading on here that doesn’t sound likely. How realistic is that do you think?

It’s do-able but any number of things could get in the way that you won’t really be able to do much about. If the searches or surveys turn up any expected surprises you’re at the mercy of the process of working things out.

The only thing you can really be in control of is making sure you know what’s happening at every point and not being afraid to push people. We had the blessing of being able to contact our vendor directly - and we lost at least four weeks waiting for their conveyancer to deal with simple things. Had they promptly answered our enquiries (it turned out there was nothing complicated about them), we could have completed six weeks after the offer was accepted. So my big regret was holding back on chasing at times through not wanting to pester the vendor.

Regina.filangie · 20 October 2017 at 10:27PM

Slight update from me, heard yesterday via the vendor’s estatenagent that my solicitor now has the draft contracts. I’m really impressed with the vendor’s EA - he seems very pleasant and efficient and isn’t one of the ‘hard-sell’ types which I find refreshing!
So hopefully now my solicitor can get on with checking the contracts and dealing with the searches as and when they come back. I am told most come back within a few days as they are electronic however the local authority ones can take a couple of weeks. Ordered on 16th so I’m keeping everything crossed for exchange in a few weeks and completion before the end of November. Am I mad?! :rotfl:

amateur_house · 21 October 2017 at 12:01AM

Natbag wrote: »

This thread can be both a blessing and a curse for information, amateur house :rotfl:
Was there a reason for the six-week gap between your offer being accepted, and the next step - I presume you were waiting for your purchaser to find somewhere?

You've reminded me, a timeline update is due I think. Looking a bit long now!

:

I don't have a house to sell (grown up children will continue to live in current house). I waited till the vendor had found a house before instructing the solicitor. Possibly a mistake, as I now feel pressured to get things moving. The estate agent phoned mid-September to say the vendor had another offer and they needed proof of funds to make the house SSTC, then the next day emailed to say they needed to move things forward due to their onward purchase. My mortgage offer runs out early December too, so I'm not feeling optimistic I will complete in time.

It sounds like you are coming to the end of a long process, have you got a date for exchange / completion yet?

FrugalWeirdo83 · 21 October 2017 at 8:11AM

I'm joining this thread but feeling like exchange is never going to happen. I'm buying off a couple who are moving into a new build and the company wanted a 28 thr n around on paperwork. They originally said they are aiming for completion by December 14th and according to estate agents are on track (fitting the kitchen currently) however they refuse to set a completion date or stats that the work will be finished by March when my mortgage offer ends. I'm a first time buyer and doing this on my own with a toddler in tow, feeling very stressed

Natbag · 21 October 2017 at 10:06AM

amateur_house wrote: »

I don't have a house to sell (grown up children will continue to live in current house). I waited till the vendor had found a house before instructing the solicitor. Possibly a mistake, as I now feel pressured to get things moving. The estate agent phoned mid-September to say the vendor had another offer and they needed proof of funds to make the house SSTC, then the next day emailed to say they needed to move things forward due to their onward purchase. My mortgage offer runs out early December too, so I'm not feeling optimistic I will complete in time.

It sounds like you are coming to the end of a long process, have you got a date for exchange / completion yet?

Ah, I see. I'm sure it will come together or hopefully your mortgage offer can be extended. Don't panic too much yet, you have another 5-6 weeks and a lot can happen in that time. We only found our current buyers 5 weeks ago.

It has been a long process overall, or at least it seems like it! We haven't got an official date, we are waiting for one last document but then everyone is waiting to exchange quickly and we are aiming to complete by this coming Friday due to the school holidays restricting time off work! It may not happen but if it does we are seriously cutting it fine. :eek:

Natbag · 21 October 2017 at 10:15AM

Welcome Frugal! I think we all think that, it's such a long, drawn-out, frustrating process! If they've said December and they're currently on the kitchen, even with a big delay you should be fine for March, those houses go up and get finished pretty quickly so they can start turning a profit. They won't set a completion date until you're ready to exchange, but hopefully it won't be too long for you.

Flowerpowerlife · 21 October 2017 at 10:20AM

Week 8 starts today .....we are now talking about potential completion dates with our solicitor which is great news. Mid to end of November, so it fits with the average 12 week timeline by the look of it. Don't want to get my hopes up though!

FrugalWeirdo83 · 21 October 2017 at 1:29PM

Thank you:) I'm trying to stay positive as I'm sure others have it much harder than I

Natbag · 21 October 2017 at 7:18PM

FrugalWeirdo83 wrote: »

Thank you:) I'm trying to stay positive as I'm sure others have it much harder than I

It can be stressful, especially if you're selling and buying at the same time!

Cheery_Daff · 22 October 2017 at 12:17PM

Hmm, I've just had the MSE Credit Club email and it appears there have been NO searches at all, which means the building society haven't done a credit search yet :eek: Should I be worried?! MSE reckons my credit score is 980 so I assume not... but I would have thought they'd have gotten round to it at some point in the last 10 weeks! :eek:

Hey ho, another potential thing that can go wrong I suppose :rotfl:

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The NEW waiting to exchange thread...

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