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  • FIRST POST
    • Mrs Z
    • By Mrs Z 31st Mar 14, 1:28 PM
    • 864Posts
    • 843Thanks
    Mrs Z
    Waiting to exchange - anyone want to join me?
    • #1
    • 31st Mar 14, 1:28 PM
    Waiting to exchange - anyone want to join me? 31st Mar 14 at 1:28 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 431
    • Resh
    • By Resh 13th Mar 17, 10:56 AM
    • 18 Posts
    • 17 Thanks
    Resh
    I feel terrible for being so impatient after reading some of your stories - we got our mortgage offer a mere eleven days ago and I'm already climbing the walls! Our next appointment with our mortgage advisor isn't until the 27th of March so I've got to keep myself distracted until then. Ugh.
    • samo8076
    • By samo8076 13th Mar 17, 11:34 AM
    • 191 Posts
    • 204 Thanks
    samo8076
    Just had an update from my EA and solicitor, all in place for exchange today, just waiting for the buyer to pay their deposit over to the solicitor.
    • spendinglikemad
    • By spendinglikemad 13th Mar 17, 12:46 PM
    • 191 Posts
    • 1,440 Thanks
    spendinglikemad
    I feel terrible for being so impatient after reading some of your stories - we got our mortgage offer a mere eleven days ago and I'm already climbing the walls! Our next appointment with our mortgage advisor isn't until the 27th of March so I've got to keep myself distracted until then. Ugh.
    Originally posted by Resh
    Hi Resh wondered where you were on the housing purchase side after being on the waiting for mortgage offer...

    We have our mortgage offer in place and all received by solicitors, draft contracts exchanged and our solicitors have raised enquiries and waiting for a search to come back.....other than that we are targeting end of March to exchange and complete as no chain.....

    SLM - and my title really fits at the moment as seem to be paying out left right and centre!!!
    Last edited by spendinglikemad; 13-03-2017 at 12:49 PM.
    Family of 4 plus cat!
    • richardwilson1984
    • By richardwilson1984 13th Mar 17, 12:47 PM
    • 14 Posts
    • 21 Thanks
    richardwilson1984
    Have you asked the EA what's going on?
    Originally posted by Thrugelmir
    I rang them on Friday and they have just come back to me with an update. The vendor has paid for the leasehold management pack, so that is what is causing the delays it would seem.

    Not sure why our solicitor couldn't have just said that was what they were waiting on rather than a 'we haven't heard back from the vendors solicitor' that I had been getting.

    On the plus, this delay is helping me save more and means I'll get another £50 off the government through the help to buy ISA
    • Resh
    • By Resh 13th Mar 17, 2:01 PM
    • 18 Posts
    • 17 Thanks
    Resh
    Hi Resh wondered where you were on the housing purchase side after being on the waiting for mortgage offer...

    We have our mortgage offer in place and all received by solicitors, draft contracts exchanged and our solicitors have raised enquiries and waiting for a search to come back.....other than that we are targeting end of March to exchange and complete as no chain.....

    SLM - and my title really fits at the moment as seem to be paying out left right and centre!!!
    Originally posted by spendinglikemad
    I'm still here, trying (and failing) to be patient. Waiting for exchange is like watching oil paint dry. It sounds like you're getting there! How exciting! I'd love to complete on 1 May, not sure if that can happen or not. No chain here either so fingers crossed for both of us (and everyone else here) for a speedy move into our new homes!

    And yeah, I'm also waiting to see what bizarre expense pops us next.
    • spendinglikemad
    • By spendinglikemad 13th Mar 17, 2:52 PM
    • 191 Posts
    • 1,440 Thanks
    spendinglikemad

    And yeah, I'm also waiting to see what bizarre expense pops us next.
    Originally posted by Resh
    - after months of being frugal and budgetting its a lot of additional expenses - just found out we have additional land registry payments (unregistered property) of £270 extra and I don't bat an eyelid as it has to be paid, the savings are being depleted though at an alarming rate!!!

    Hopefully will save some money as the sellers are leaving some furniture for us that they couldn't take - the house is twice the size of ours so it won't mean we will rattle around in it and anything extra we will be able to put on online auction -

    Our solicitor is being great at keeping us in the loop - just fingers crossed that nothing major crops up on the environmental search as thats what they are waiting for. Just got to get my head back on work matters for the next 2 weeks or so until there are any updates but for now our job is done

    Just compiling quotes for insurance and a list of moving day actions and change of address letters

    SLM
    Family of 4 plus cat!
    • samo8076
    • By samo8076 13th Mar 17, 2:58 PM
    • 191 Posts
    • 204 Thanks
    samo8076
    Just had an update from my EA and solicitor, all in place for exchange today, just waiting for the buyer to pay their deposit over to the solicitor.
    Originally posted by samo8076
    Doesnt look like it will be happening today time is running out for me to get my stuff out (agreed completion is 23rd)
    • tomatta
    • By tomatta 13th Mar 17, 2:59 PM
    • 27 Posts
    • 28 Thanks
    tomatta
    Just had an update from my EA and solicitor, all in place for exchange today, just waiting for the buyer to pay their deposit over to the solicitor.
    Originally posted by samo8076

    How come there always seems to be a hold up with this? I'm waiting to exchange as well (no date set), I'm a FTB, and on Friday I transferred my deposit to the solicitor so it'll be in place when needed. Why do people wait?
    • samo8076
    • By samo8076 13th Mar 17, 3:10 PM
    • 191 Posts
    • 204 Thanks
    samo8076
    Doesnt look like it will be happening today time is running out for me to get my stuff out (agreed completion is 23rd)
    Originally posted by samo8076
    Scrap that. Out of nowhere i get a call from my solicitor to say the contracts have just exchanged
    • millie84
    • By millie84 13th Mar 17, 4:37 PM
    • 76 Posts
    • 25 Thanks
    millie84
    I'm in the process of sending in my draft contract. It's a joint ownership with my ex, so it's taking a little longer to coordinate signing everything!
    I've never sold a house before, so I have now idea what to expect, I'm told completion is likely to be early May. The place is empty and it's a cash sale, which makes it a little easier I guess.
    • Ragtimeplayer
    • By Ragtimeplayer 14th Mar 17, 2:25 PM
    • 1,196 Posts
    • 1,240 Thanks
    Ragtimeplayer
    Scrap that. Out of nowhere i get a call from my solicitor to say the contracts have just exchanged
    Originally posted by samo8076
    Congratulation!

    We are still waiting enquiries coming back, onward and upward!
    Stopped smoking Jan 2007 after 23 years!

    Cigarettes NOT smoked = 190,945
    Smoke free days = 9 Years
    Cash saved so far = £19745,11
    • Josephiney83
    • By Josephiney83 14th Mar 17, 6:14 PM
    • 16 Posts
    • 26 Thanks
    Josephiney83
    We accepted an offer on our house at the end of Jan on the basis that the buyer wanted a quick move, which we agreed to (we can move into a friend's empty flat while we wait for our purchase to complete). All going well, completion date mooted for 1/4/17 but unconfirmed then in the last two weeks.....radio silence. Starting to get really anxious now as just want the sale to complete and find the sudden silence worrying!
    • PeterPanic
    • By PeterPanic 14th Mar 17, 11:46 PM
    • 29 Posts
    • 70 Thanks
    PeterPanic
    Scrap that. Out of nowhere i get a call from my solicitor to say the contracts have just exchanged
    Originally posted by samo8076
    Congratulations! I was due to exchange on Friday too, but due to some last minute issues with my bank (even though I had already received an email telling me they were happy to release the funds) it didn't happen.

    After a sleepless weekend where nobody at the bank was available to help me we finally exchanged on Monday evening.

    Completion is Friday, going to be so strange not to have to think about it anymore, have to say mine was a simple chain and it has put me off for life.

    Can't remember what it is like to come home from work, relax and not have the stress of a house purchase to worry about!
    • amylou1107
    • By amylou1107 15th Mar 17, 9:55 AM
    • 24 Posts
    • 24 Thanks
    amylou1107
    All paper work - contract, transfer deeds etc signed and sent back to solicitor. Deposit transferred over yesterday and called this morning to confirm they had received it - they had, phew!
    Got an out of office from my solicitor - back Monday - ergh! Hopefully this doesn't delay things, as everyone wants to complete by end of the month so just waiting to exchange now.

    Our sellers are in the same position and all ready to go so just waiting for the top of the chain to confirm probate has been granted... Last i heard everyone was still on track for end of the month.

    Keeping everything crossed!

    Good Luck to everyone else hoping to exchange soon!
    Last edited by amylou1107; 15-03-2017 at 9:56 AM. Reason: typo
    • stardust09
    • By stardust09 16th Mar 17, 11:10 PM
    • 234 Posts
    • 180 Thanks
    stardust09
    Good news at last - 10 weeks in to my leasehold flat purchase and finally got the contract and other paperwork from the solicitor tonight (now all signed and ready to be returned in tomorrow's post), deposit transferred and the seller wants to exchange as soon as possible, with an ideal completion date of 4th April.

    What a saga!
    • PeterPanic
    • By PeterPanic 17th Mar 17, 4:39 AM
    • 29 Posts
    • 70 Thanks
    PeterPanic
    Supposed to complete at 4PM today, lets see how that goes!
    • paul101chich
    • By paul101chich 17th Mar 17, 7:17 AM
    • 11 Posts
    • 6 Thanks
    paul101chich
    I am supposed to complete at 4pm today too! The confirmation to developer was last Thursday!!

    Waiting for help to buy funds to appear....
    • samo8076
    • By samo8076 17th Mar 17, 8:45 AM
    • 191 Posts
    • 204 Thanks
    samo8076
    Good luck PeterPanic and paul101chich
    • 3mph
    • By 3mph 17th Mar 17, 9:18 AM
    • 132 Posts
    • 120 Thanks
    3mph
    Fourth time lucky, we finally exchanged with completion in 2 weeks.

    Beginning Oct put our house on market, 2 days later cash buyer offered nearly asking price, accepted, so started looking.

    Mid Oct found perfect flat, made offer, accepted with completion mid December. Mid November a week before exchange seller pulls out, owned by a company, decided not to sell. Devastated as thought of Christmas with nowhere.

    Agent found another in same block who had said they were going sell next Spring (this year now) so had a look, made an offer, rejected, increased to asking price, finally accepted then 4 days later they decided not to sell, holiday flat, we had just been used to establish a price.

    Rented a house, agreed with our buyer to delay until after Christmas so we could be a home with family.

    Another EA said someone in same block had two flats joined together, wanted to move to another part of country to be with grandchildren, would split and sell either. Had surveys, worked out what needed doing, in very good condition but d!cor was breathtakingly unique so needed stripping out. Offer agreed, then delays and finally the buyer pulled out saying they couldn’t find anywhere else and didn’t want to move out of the area. Then 2 days later said changed their mind, yes really wanted to sell, off we go again. Then 4 days later they said they had changed their mind were going to stay.

    Then another flat came on the market, there are only 30 odd of them and only 18 of these we would consider as only these had views. Constant delays for a month and then finally everything went through in last week after the seller made a formal complaint to the managing partner about their solicitor who was dragging their feet.

    So finally we exchanged after 4 different flats and nearly 5 months. I never imagined it would be so hard as we were cash buyers.

    • Lessons learnt don’t believe everything you are told by EAs
    • Get everything you can in writing and confirm telephone agreements immediately by email and make sure other side confirms your email.
    • Decide what you really want and stick with it, it might feel like forever but it really isn’t.
    • Do not be put off by threats, most turn out to be meaningless.
    • Do not get upset, be reasonable and any email draft it out first in Word and then think about it. This has often calmed my annoyance and meant that I could amend the draft to be reasonable and still be happy.

    Anyhow good luck everyone else, it does finally happen, even if you think not.
    • The_Logans
    • By The_Logans 17th Mar 17, 5:30 PM
    • 156 Posts
    • 96 Thanks
    The_Logans
    Signed sale contract sent back to solicitor today. We have our mortgage offer in place and deed signed. We are not selling, but remortgaging our current house to let it out. The proceeds from the remortgage will be our deposit for the new house. I saw somewhere in the solicitors sale pack that there needs to be a 10% deposit before completion, I'm now worried. We didn't know we needed that! Tried to phone solicitor but she was off this afternoon so will need to worry about it until Monday.
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