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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 371
    • ap1985
    • By ap1985 18th Oct 16, 3:25 PM
    • 265 Posts
    • 106 Thanks
    ap1985
    It looks like we're exchanging today, not heard anything since this morning but my solicitor was on the case.
    Originally posted by lcc86

    Fingers Crossed
    Finally going to be a homeowner
    • lifeofunmumsy
    • By lifeofunmumsy 18th Oct 16, 4:06 PM
    • 22 Posts
    • 35 Thanks
    lifeofunmumsy
    Looks like no exchange again today *sigh*

    Starting to think it's not going to happen again now, after waiting 2 and a half weeks for them to decide they were still going to buy I have a horrible feeling they've got cold feet. Yet ANOTHER sleepless night ahead! urgh. This limbo phase is the worst of all of it.

    Hope everyone else had a better day than me! my nerves are shot lol
    • Levs01
    • By Levs01 18th Oct 16, 4:11 PM
    • 224 Posts
    • 237 Thanks
    Levs01
    Korra congratulations.

    I had a message this morning quoting the FTB at the bottom of the chain.

    'I rec'd the last of the paperwork at the end of last week and am hoping to review it this evening and i'll then sign and return'

    FOUR DAYS! you have had that paperwork for 4 days and you are HOPING to review it this evening. I am livid. Ive called my EA to chase this up and find out if I am somehow mis reading this. We were due to exchange Monday and they are going to try and look at it tonight. I am so so angry right now.
    • neilio
    • By neilio 18th Oct 16, 4:13 PM
    • 84 Posts
    • 24 Thanks
    neilio
    Iím beside myself with worry and havenít had a good nightís sleep in months.

    Back in February, my husband and I reserved an off-plan new build house. We remortgaged some of our current home, our flat, to pay the deposit, and we were required to exchange contracts on the purchase in March. The developer, Berkeley Homes, gave us a completion window of between October 2016 and March 2017. We put our flat on the market in April. I originally bought the flat under the shared ownership scheme (35%) nearly six years ago when I was still single. Since then, we married, and two years ago we staircased to 100% together. We originally had a buyer in June and the conveyancing process was pretty smooth. Apart from, during that period, around July, the buyer had a HomeBuyers survey done, which concluded that the the value was £20,000 less than the agreed sale price. The report concluded that Brexit was to blame. We came to compromise with the buyer, and we were about to exchange contracts, but she pulled out right at the last moment, in early August, having wasted our time and most of the summer!

    During this time, Berkeley kept us up to date with how the house was progressing, and eventually told us it would be ready at the beginning of October - the earliest possible time of the window they gave us.

    We have another buyer since late August, but had to settle for an even lower price than that the original buyerís HomeBuyers survey report concluded, which we were gutted about. We had no choice but to accept. This buyer and his solicitor have been a nightmare. Iíve started various threads on this forum seeking advice on what to do with certain issues that cropped up. I have spent blood, sweat and tears in begging the freeholder and the local authority to bend the rules for me when providing responses, instead of having to wait their standard 10-working day timescales, and exhausted all favours I couldíve called in to speed this up, knowing the completion of the house has been looming.

    The biggest annoyances have been the purchaser solicitor halting the entire process until a Deed of Variation was raised, agreed, and signed off to remove all the former shared ownership pre-emption clauses from the Lease, making nonsensical requests for planning documentation, constantly delaying having the valuation survey undertaken until his queries were addressed, and forcing us to agree to three indemnity policies - Restrictive Covenant Indemnity Policy (because of a standard prohibition of wooden floor clause in the Lease); Insolvency Act Indemnity Policy (because he failed to understand there was no risk in my husband staircasing with me as Joint Tenants); Contingent Buildings Insurance Indemnity Policy.

    The last one, the Contingent Buildings Insurance Indemnity Policy, is the last thing delaying things, or so Iím told. The purchaser solicitor is allegedly waiting for the buyerís lender to accept this indemnity policy before proceeding to exchange. I have been trying to get updates for three days but apparently they are still waiting. My solicitor finally provided the contract for me today to sign and return. My estate agent has told me I need to now threaten that Iíll withdraw the sale. Iím frightened of doing that because, weíve come so far, it feels so close, will this really all fall apart just because of my impatience. Iím so affected by this, suffering acute anxiety and worried, I feel like my judgement is impaired. I told my solicitor today to threaten them with pulling the sale, but she immediately came back and asked if I really wanted her to do it, which got me doubting again.

    Meanwhile, whilst Berkeley are not pressuring me to complete, they are requesting weekly updates from me on how my sale is going, because I canít complete on the house purchase unless I sell my flat. I desperately, desperately want to exchange so I know that this will all happen!

    I am thinking of contacting the buyer. Iíve never met him and the estate agent doesnít recommend I do so. Iíve identified him on social media and have a very succinct, polite message, ready to send, to ask what the delays are and if he definitely still wants the flat. I just donít know what to do.
    • Jox
    • By Jox 18th Oct 16, 4:40 PM
    • 1,217 Posts
    • 2,579 Thanks
    Jox
    Don't contact the buyer through social media.....
    • Levs01
    • By Levs01 18th Oct 16, 4:43 PM
    • 224 Posts
    • 237 Thanks
    Levs01
    Don't contact the buyer through social media.....
    Originally posted by Jox
    This! With bells on. Keep contact through official channels.
    • neilio
    • By neilio 18th Oct 16, 4:45 PM
    • 84 Posts
    • 24 Thanks
    neilio
    Don't contact the buyer through social media.....
    Originally posted by Jox
    Not even Linked-In?
    • Jox
    • By Jox 18th Oct 16, 4:50 PM
    • 1,217 Posts
    • 2,579 Thanks
    Jox
    No, it seems stalkerish I'm afraid...you are going to have to be patient, I'm sorry this is a stressful process x
    • neilio
    • By neilio 18th Oct 16, 4:51 PM
    • 84 Posts
    • 24 Thanks
    neilio
    Well it seems there is a bitter war of words waging between my solicitor and the purchaser solicitor. The EA tells me that the buyer is in regular contact with him and it seems that the buyer does not seem up to speed with the enquiries going back and forth between the solicitors. My solicitor, on the other hand, has kept me fully informed. Since my post above, I've seen the latest email between them from a few minutes ago. The purchaser solicitor is quibbling over some nonsense items that my solicitor has repeatedly responded to.

    I'm not going to paste the whole email here, but my solicitor ends her email with this:

    I am frankly exasperated by your repeated unnecessary enquiries and so are my clients. My clients expect an exchange by the end of this week and I suggest that you consider reporting to your clients in anticipation of a response from your lender.

    I have a feeling this is all about to fall apart.
    • Levs01
    • By Levs01 18th Oct 16, 5:22 PM
    • 224 Posts
    • 237 Thanks
    Levs01
    Update from Ea. The bottom chain got contract yesterday and has signed and returned special delivery today. They are sending deposit tomorrow. Should be set for exchange tomorrow or Thursday latest. Have now advised vendor and they 'seem' ok so everything crossed for tomorrow!
    • jojo9239
    • By jojo9239 18th Oct 16, 5:22 PM
    • 319 Posts
    • 223 Thanks
    jojo9239
    My solicitor has rang she has finished everything and is sending me her final report she's also sent this to our lenders so just waiting on news about her purchase
    • neilio
    • By neilio 18th Oct 16, 6:15 PM
    • 84 Posts
    • 24 Thanks
    neilio
    The estate agent has now suggested that perhaps I should contact the buyer directly, if it will get me the answers I am looking for. It seems like the buyer's solicitor is intentionally trying to put an end to this transaction. I know lawyers are heartless but, honestly, do they really behave that way just to put their ego ahead of their client wanting to buy a property?
    • Levs01
    • By Levs01 18th Oct 16, 6:49 PM
    • 224 Posts
    • 237 Thanks
    Levs01
    The estate agent has now suggested that perhaps I should contact the buyer directly, if it will get me the answers I am looking for. It seems like the buyer's solicitor is intentionally trying to put an end to this transaction. I know lawyers are heartless but, honestly, do they really behave that way just to put their ego ahead of their client wanting to buy a property?
    Originally posted by neilio
    Surely the estate agent had the purchasers details. Can they not contact them on you behalf and say that you've requested a meeting at their premises (neutral safe ground) and then discuss in person? I really don't think contacting them via social media is acceptable.
    • BrassicWoman
    • By BrassicWoman 18th Oct 16, 6:52 PM
    • 1,041 Posts
    • 4,283 Thanks
    BrassicWoman
    The estate agent has now suggested that perhaps I should contact the buyer directly, if it will get me the answers I am looking for. It seems like the buyer's solicitor is intentionally trying to put an end to this transaction. I know lawyers are heartless but, honestly, do they really behave that way just to put their ego ahead of their client wanting to buy a property?
    Originally posted by neilio
    Ask your solicitor to give them a firm deadline. Don't go direct; you will only get cross!
    May GC £215/£50 (oops)
    April 2016 GC: £24.09/ £20
    • neilio
    • By neilio 18th Oct 16, 7:19 PM
    • 84 Posts
    • 24 Thanks
    neilio
    I've told the solicitor to give the ultimatum and I've asked the EA to facilitate a face-to-face meeting. Let's see what happens.
    • lcc86
    • By lcc86 18th Oct 16, 7:37 PM
    • 747 Posts
    • 1,241 Thanks
    lcc86
    Neilio your situation echoes mine a little, although for me it's my buyer's actual solicitor who are the problem. I did threaten to withdraw at one stage last week, although have to say it was probably an empty threat tbh having come so far... But it's so exasperating at times that I completely understand your frustrations. If you're gonna meet, make sure the EA or someone is there to help.


    We didn't exchange today, my buyer wasn't ready (after all their pushing lol) but look set to do so tomorrow.
    1/12/14 total £9,140 Today £233 97.4% paid
    • Foion
    • By Foion 18th Oct 16, 7:42 PM
    • 9 Posts
    • 15 Thanks
    Foion
    guess i'll join in ^^;;
    i've been lurking on this thread for a few weeks and its finally time to join in the waits.
    low bid put in on a repo in a great part of town (for me), bid, after much back and forth trying to get me to budge they accepted my original offer.
    the notices are up and the quicker all the searches (and the formal mortgage agreement) come in the better, every phonecall i've had today gave me some mild panic ^^ - weeks/months of this, i dont know how any of you have coped!
    • neilio
    • By neilio 18th Oct 16, 7:51 PM
    • 84 Posts
    • 24 Thanks
    neilio
    lcc86, in fact it is the buyer's solicitor causing me the problem. They pretty much admitted in today's letter to my solicitor that they are not in touch with the buyer about anything until these last remaining issues are addressed. The issues have been addressed repeatedly by my solicitor again today, and she has had to resort to language such as "I am astounded that you...", "I have told you time and time again..." and "I am frankly exasperated by your repeated unnecessary enquiries and so are my clients" in her response back.

    The estate agent summed it up by saying "He [the purchaser solicitor] is in full control and will not be told otherwise."

    The reason I want to speak to the buyer is to understand what they make of all of this, because I don't believe they are aware of what is going on. If they want the flat as much as the EA says they do, then they need to understand. If I was in their position, I'd want to know if it's about to fall apart.

    I wonder if your buyer's solicitor is the same as mine. Is it ok to name and shame people on this forum?
    • lcc86
    • By lcc86 18th Oct 16, 8:10 PM
    • 747 Posts
    • 1,241 Thanks
    lcc86
    lcc86, in fact it is the buyer's solicitor causing me the problem. They pretty much admitted in today's letter to my solicitor that they are not in touch with the buyer about anything until these last remaining issues are addressed. The issues have been addressed repeatedly by my solicitor again today, and she has had to resort to language such as "I am astounded that you...", "I have told you time and time again..." and "I am frankly exasperated by your repeated unnecessary enquiries and so are my clients" in her response back.

    The estate agent summed it up by saying "He [the purchaser solicitor] is in full control and will not be told otherwise."

    The reason I want to speak to the buyer is to understand what they make of all of this, because I don't believe they are aware of what is going on. If they want the flat as much as the EA says they do, then they need to understand. If I was in their position, I'd want to know if it's about to fall apart.

    I wonder if your buyer's solicitor is the same as mine. Is it ok to name and shame people on this forum?
    Originally posted by neilio
    Erm if it's not okay it's too late for me cos I have already done so!!! A few days ago I named them on here, oops!

    My buyer's solicitor was very VERY similar, kept coming back with repeated queries despite them being answered and didn't really keep my buyer fully in the loop from what I understand. I got the EA involved and they really helped push things along after weeks of going round in circles.
    1/12/14 total £9,140 Today £233 97.4% paid
    • neilio
    • By neilio 18th Oct 16, 8:30 PM
    • 84 Posts
    • 24 Thanks
    neilio
    lcc86, I just PM'd you my buyer's solicitor's name and law firm. Although, oddly, it's not showing in my Sent box!
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