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  • FIRST POST
    • Mrs Z
    • By Mrs Z 31st Mar 14, 2:28 PM
    • 859Posts
    • 841Thanks
    Mrs Z
    Waiting to exchange - anyone want to join me?
    • #1
    • 31st Mar 14, 2:28 PM
    Waiting to exchange - anyone want to join me? 31st Mar 14 at 2:28 PM
    Well, we have now passed the 'mortgage application' and survey hurdle and searches are all done. As far as I know, our buyers should also have everything in order. We are now waiting for our seller to get to the same point as they found their house a fortnight after accepting the offer from us. It is nerve wrecking... anyone want to join me????!!!
Page 364
    • ap1985
    • By ap1985 13th Oct 16, 11:23 AM
    • 256 Posts
    • 101 Thanks
    ap1985
    So fed up, bottom of the chain is still (apparently) awaiting a search to come back. Even if they had started them on the first time they said they were waiting for it, it would be back by now. Everyone else is ready. Feeling really peeved with it today.
    Originally posted by Levs01

    Oh dear! I can imagine the frustration! Do you know when they may have started their searches?
    • Levs01
    • By Levs01 13th Oct 16, 11:36 AM
    • 224 Posts
    • 237 Thanks
    Levs01
    After so much going back and forth from the solicitors and our mortgage lender and HTB we should hopefully receive the authority to exchange from HTB tomorrow (so our solicitors tell us)...fingers crossed it all goes plain sailing from here!
    Originally posted by ap1985
    How does that work AP? why do you need permission from HTB to exchange, is that bit not sorted at the beginning? Genuinely just being nosey, have no clue on how HTB works.
    • Levs01
    • By Levs01 13th Oct 16, 11:38 AM
    • 224 Posts
    • 237 Thanks
    Levs01
    Oh dear! I can imagine the frustration! Do you know when they may have started their searches?
    Originally posted by ap1985
    We were told same time we did and same time our buyer did. It's all under the same borough so they all take 10 days ours have been back 2 weeks, our buyers were back in about 7 days so I don't believe it.
    • ap1985
    • By ap1985 13th Oct 16, 11:52 AM
    • 256 Posts
    • 101 Thanks
    ap1985
    How does that work AP? why do you need permission from HTB to exchange, is that bit not sorted at the beginning? Genuinely just being nosey, have no clue on how HTB works.
    Originally posted by Levs01
    I have no idea Unfortunately we were told by our solicitors that as we are going on HTB we need authority from them to exchange after our mortgage offer came through...
    • mattk_180
    • By mattk_180 13th Oct 16, 12:10 PM
    • 262 Posts
    • 212 Thanks
    mattk_180
    I have no idea Unfortunately we were told by our solicitors that as we are going on HTB we need authority from them to exchange after our mortgage offer came through...
    Originally posted by ap1985

    Which one are you using? Equity Loan or Mortgage Guarantee?


    We used the guarantee and nothing like this was mentioned to us throughout the whole process. Can only assume therefore that either you are going with the loan or our solicitors just sorted it out without the need to tell us.
    • ap1985
    • By ap1985 13th Oct 16, 12:12 PM
    • 256 Posts
    • 101 Thanks
    ap1985
    Hi MattK we are using the Equity Loan
    • lcc86
    • By lcc86 13th Oct 16, 12:27 PM
    • 743 Posts
    • 1,191 Thanks
    lcc86
    Update on mine - or no update really. Just waiting for one thing from my freeholder then we're good to go. If that comes back today we could exchange tomorrow. If not it's likely to be next week. Hope some others receive positive news today!
    1/12/14 total £9,140 Today £233 97.4% paid
    • Levs01
    • By Levs01 13th Oct 16, 12:30 PM
    • 224 Posts
    • 237 Thanks
    Levs01
    I have no idea Unfortunately we were told by our solicitors that as we are going on HTB we need authority from them to exchange after our mortgage offer came through...
    Originally posted by ap1985
    I but that's frustrating having to add another box that needs to be checked before you can move on.

    Our problem is that any sniff of a delay and I think our upperchain will jump on it to stay put longer. They're in no rush to move at all so I do t want to give them any ammo.
    • ap1985
    • By ap1985 13th Oct 16, 2:12 PM
    • 256 Posts
    • 101 Thanks
    ap1985
    I but that's frustrating having to add another box that needs to be checked before you can move on.

    Our problem is that any sniff of a delay and I think our upperchain will jump on it to stay put longer. They're in no rush to move at all so I do t want to give them any ammo.
    Originally posted by Levs01

    It is frustrating but at least we are moving in the right direction...I am sure your situation would be more so frustrating!

    Keep us updated to how it progresses!
    • lewishardwick
    • By lewishardwick 13th Oct 16, 2:28 PM
    • 349 Posts
    • 343 Thanks
    lewishardwick

    My Vendors onward purchase has stalled. Tenants didn't move out on Monday as the S21 stipulated.

    Yes, yes, yes, they don't HAVE to vacate. But will a Country Court allow a High Court application to evict?!

    *grumpy Lewis*
    • Levs01
    • By Levs01 13th Oct 16, 3:07 PM
    • 224 Posts
    • 237 Thanks
    Levs01

    My Vendors onward purchase has stalled. Tenants didn't move out on Monday as the S21 stipulated.

    Yes, yes, yes, they don't HAVE to vacate. But will a Country Court allow a High Court application to evict?!

    *grumpy Lewis*
    Originally posted by lewishardwick
    Oh I am sorry Lewis. How long have they said this could all take?
    • lee111s
    • By lee111s 13th Oct 16, 3:08 PM
    • 2,463 Posts
    • 1,750 Thanks
    lee111s
    Looking like today isn't going to be the day
    • BritishBibliophile
    • By BritishBibliophile 13th Oct 16, 3:55 PM
    • 527 Posts
    • 2,373 Thanks
    BritishBibliophile

    My Vendors onward purchase has stalled. Tenants didn't move out on Monday as the S21 stipulated.

    Yes, yes, yes, they don't HAVE to vacate. But will a Country Court allow a High Court application to evict?!

    *grumpy Lewis*
    Originally posted by lewishardwick
    We had the same problem, only ours were students. We threatened to pull out of the sale completely so the agents fixed it by finding them a new place to live (I also have to wonder if they offered them the full deposit back to sweeten the deal).
    "You won't bloom until you're planted" - Graffiti spotted in Newcastle.

    House Deposit - £12132.18 | Furniture Fund - £805.86/£1000 Make £3 a Day in September - £15.24/£90 (2016 - £398.14) | Wombling - £47.08 | Wedding Fund: £2080.00/£4000
    • Slinky
    • By Slinky 13th Oct 16, 4:38 PM
    • 3,809 Posts
    • 13,804 Thanks
    Slinky
    Arggh, scuse me if I vent as a first post on this thread. All seemed to be going reasonably well with our purchase, albeit the vendor not being particularly helpful with regards a gas meter, however today we have received the first lot of 'real' paperwork from our solicitor. Our vendor has built a house next door he is moving into and to reach our back garden, it's accessed via strip of land between the garage and the new garden wall next door. It turns out the vendor is trying to retain ownership of this pathway, only granting us access to walk across it to reach our back garden with no materials to be stored there. Despite that being where he currently stores the 3 wheelie bins for the property we are buying. There's no reason for him to retain ownership of this pathway, his property is not accessible from it. He also wants a right of access across our drive to reach this pathway. Now I can understand him wanting to retain the right of access to maintain his wall, the owners of the property on the otherside have similar rights, but to retain ownership of the land....... he's having a laugh.

    I can see this being a dealbreaker.

    /Vent over, sorry.
    • nataliekatemese123
    • By nataliekatemese123 13th Oct 16, 4:44 PM
    • 30 Posts
    • 18 Thanks
    nataliekatemese123
    Popped back on to see how you're all getting on and to say that happily we are all moved in!

    7 weeks from offer accepted to completing - bloody nightmare getting it all through so quickly but so pleased to be in before christmas.

    hope that all your completions come soon enough!
    • lewishardwick
    • By lewishardwick 13th Oct 16, 4:46 PM
    • 349 Posts
    • 343 Thanks
    lewishardwick
    Oh I am sorry Lewis. How long have they said this could all take?
    Originally posted by Levs01
    Not yet. I found out yesterday so thought I'd give all involved a couple of days to get the necessary in order. They did mention arranging bailiffs. If it's High Court (fingers xx'ed) they offer a quick turn-around so might just be a week. If it's County Court it can be much longer.

    I will see what the agent says tomorrow.

    I really don't want to pull out, my living situation is stable at the moment, but I really do want to be back closer to my friends and work!
    • BritishBibliophile
    • By BritishBibliophile 13th Oct 16, 4:50 PM
    • 527 Posts
    • 2,373 Thanks
    BritishBibliophile
    That would be a deal breaker for us too Slinky, sounds like it's a vendor who doesn't want to let go of "their" house!

    We've finally made some progress, estate agent phoned to say that they'd heard from the vendor's solicitor that the contract had been sent out. They reckon searches will take 2 weeks as that's the average time and it's "quite quiet" at the moment so hopefully there isn't a huge backlog. Once the searches come back, THEN we can start talking about dates for exchange.

    Tiny, tiny knot of stress has been released in my stomach. I hadn't realised how tense the last few weeks had made me!
    "You won't bloom until you're planted" - Graffiti spotted in Newcastle.

    House Deposit - £12132.18 | Furniture Fund - £805.86/£1000 Make £3 a Day in September - £15.24/£90 (2016 - £398.14) | Wombling - £47.08 | Wedding Fund: £2080.00/£4000
    • Slinky
    • By Slinky 13th Oct 16, 5:27 PM
    • 3,809 Posts
    • 13,804 Thanks
    Slinky
    I've just looked again at this deed of easement. We would have access to our back garden via this path - the only external route from front to back. However, we have to give access to our other neighbour to be able to maintain his property. This is via a set route, refered to in the title, for which we don't have details.

    I don't know whether our vendors are trying to get easements from 'our' adjoining neighbour, or whether it hasn't occured to them that we would appear to have rights to walk across the path, but our other neighbours will not. If we have to give them access but they cannot use the path, their only other route would be through our house!

    Madness, just madness. I'm not sure I even want to live next to this man....
    • Bonniepurple
    • By Bonniepurple 13th Oct 16, 5:54 PM
    • 57 Posts
    • 53 Thanks
    Bonniepurple
    Joining in. We had an offer accepted on a 3 bed semi back in August, but our buyer was rejected by the housing association, (25% shared ownership, which has suited us well) so we had to remarket. We got confirmation a couple of days ago that the new buyer has been accepted, and I have given the housing association our solicitors details.

    It's thankfully a very short chain - our vender has moved into sheltered accommodation so the property is empty. Our buyers are in rented. We also don't have a mortgage to worry about - providers don't like very part time and self employed- as we are using the Bank of Dad.
    • MissTasmanian
    • By MissTasmanian 13th Oct 16, 6:25 PM
    • 605 Posts
    • 256 Thanks
    MissTasmanian
    My heart goes out to all of you waiting on exchange and I am ashamed to say that until it happened to me I never imagined it’d be so stressful and I hate to use this word, but,.. unfair.

    Slinky, what an awful choice having to either negotiate or walk away! Because I don’t see how you can accept that.

    Really happy you’ve had some progress BritishBibliophile!

    Lewishardwick I wouldn’t give up just yet! But perhaps time for an ultimatum?

    So happy for you Natalie!

    Sorry Lee L

    We were advised by our friends and family and even our solicitor, to a lesser extent, to pull out the sale because the trust with the vendor has broken down because he did after all ignore us for six weeks, told us when viewing the house that he actually already had a house to go to, and finally he accepted our offer which specified that we expected a quick sale.

    However (perhaps stupidly?)we’ve decided instead to give our seller one last chance, maybe it’ll just be a big waste of time but at this point it’s worth a shot.

    We’ll buy the property but the seller will have to lower the price (to account for our extra expenses) and choose a firm date for completion this month or the next if he wants to rescue the sale.

    The solicitor has said that this is the one and only case in his whole career where he’d actually recommend “chipping,” we’ve compiled our actual expenses because of the delay, which works out at £3000! Our solicitor also said that he’s frankly amazed and angry that the seller and his solicitor would risk a fair, cash offer at a time when our local housing market is very sluggish.

    The estate agents who’re desperate to rescue the sale (I assume it’s their Christmas bonus) have told us that the seller is waiting on completion for his next house so we think he’s ignored us in the hope he could wait it out for his next house.

    But we’re angry he would tell us he had somewhere to go and promised us it’d be a quick sale. That seems very dishonest of him and I feel like he’s simply transferred his expenses (of finding short term accommodation, storage costs) that we’ve had to pay instead. Also why not at least be honest about his intentions?

    Regardless on if he really is waiting on his next house to complete I hope he’ll accept our final ultimatum for his sake and ours. I am sure his house will just sit for another two years waiting for a buyer thanks to his desire to save a few months in rent :/
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