Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Mrs Z
    • By Mrs Z 31st Mar 14, 2:28 PM
    • 866Posts
    • 844Thanks
    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 484
    • LuckyG
    • By LuckyG 10th Jul 17, 5:14 PM
    • 181 Posts
    • 184 Thanks
    LuckyG
    I didn't hear anything from my solicitor today or the EA regarding the last 2 queries.
    They were supposed to be sent to my solicitor today. Guess I'll be chasing again tomorrow.

    I'm back at work Wednesday so at least my mind will be occupied then.
    • Surrey_EA
    • By Surrey_EA 10th Jul 17, 5:22 PM
    • 1,023 Posts
    • 1,155 Thanks
    Surrey_EA
    We wanted to exchange today complete next Monday, but the vendor is adament he cannot exchange before 24th August due to holiday/work/personal commitments. The paperwork is all but done now, we've got the draft contracts. It's a probate property that needs clearing out and he doesn't live locally to it.

    If it doesn't exchange on 24th August he has been told in no uncertain terms we will walk away.
    Originally posted by Slinky
    Has probate been granted?

    I would be asking why it is not possible to exchange soon, with completion for the end of August.
    • Slinky
    • By Slinky 10th Jul 17, 6:15 PM
    • 4,335 Posts
    • 17,834 Thanks
    Slinky
    Has probate been granted?

    I would be asking why it is not possible to exchange soon, with completion for the end of August.
    Originally posted by Surrey_EA
    Yes probate was granted last year. We're going for a long completion date anyway as we can't take full ownership until part way into September now (work commitments). We don't want to waste 2 months of expensive insurance premiums (landlord's policy, house empty, previous subsidence). It should all have been so simple, the vendor has made it all so difficult and we're giving up a paid-for holiday because he's taken an age to get his act together.
    • smallholdingsister
    • By smallholdingsister 10th Jul 17, 6:27 PM
    • 3,290 Posts
    • 24,266 Thanks
    smallholdingsister
    Has probate been granted?

    I would be asking why it is not possible to exchange soon, with completion for the end of August.
    Originally posted by Surrey_EA
    Me too. Only doesn't completion have to be within a month of exchange?
    • Glbooth3
    • By Glbooth3 10th Jul 17, 6:31 PM
    • 71 Posts
    • 87 Thanks
    Glbooth3
    No news today :/ oh well chase up again tomorrow!!! Think I'll need prosecco to calm nerves at this rate
    • starshapedbrick
    • By starshapedbrick 10th Jul 17, 8:15 PM
    • 31 Posts
    • 38 Thanks
    starshapedbrick
    but why so long from exchange to completion?
    Thanks. The delay was by choice/agreement with vendors - they're going into rented, we had a holiday booked and everyone (chain of 4) wanted time to sort out removals etc. We were just pleased to finally get dates sorted and agreed tbh
    • Slinky
    • By Slinky 10th Jul 17, 8:28 PM
    • 4,335 Posts
    • 17,834 Thanks
    Slinky
    Me too. Only doesn't completion have to be within a month of exchange?
    Originally posted by smallholdingsister


    What makes you think that?
    • Koldweather1
    • By Koldweather1 10th Jul 17, 8:34 PM
    • 15 Posts
    • 30 Thanks
    Koldweather1
    Me too. Only doesn't completion have to be within a month of exchange?
    Originally posted by smallholdingsister
    Nope, ours is almost 2 months (on agreement with both sides).
    • smallholdingsister
    • By smallholdingsister 10th Jul 17, 9:15 PM
    • 3,290 Posts
    • 24,266 Thanks
    smallholdingsister
    I thought I had read it in our solicitor's blurb. Clearly not.

    Wow 2 months!
    • nikongirl
    • By nikongirl 10th Jul 17, 9:46 PM
    • 144 Posts
    • 155 Thanks
    nikongirl
    Joining this thread because my offer's been accepted, the lender has done their valuation and offered the mortgage. Now I need to get the main survey done (a full survey because it's previously been underpinned).
    Debt at LBM 3/14: £27661 £11878 | £500 Overdraft | £2275 Council Tax | £910 CCJ | £800 Overdraft | £1800 Marbles | £7580 5283 Egg | £14735 6155 Family
    Quidco Earnings 11/06-03/15: £330
    • goodwithsaving
    • By goodwithsaving 10th Jul 17, 10:16 PM
    • 481 Posts
    • 728 Thanks
    goodwithsaving
    I can't do this. It's so stressful. My mortgage application for my new house has gone in but I'm so anxious that my own place will fall through or I'll be gazundered. I have no buffer as this was an unplanned move and am terrified of it all going wrong.
    :-(

    Please tell me it isn't only me who finds this all so very, very stressful and isolating.
    Every time you borrow money, you’re robbing your future self. –Nathan W. Morris
    • browneyone
    • By browneyone 10th Jul 17, 11:56 PM
    • 60 Posts
    • 31 Thanks
    browneyone
    Revived a call from the EA today saying the vendor has finally completed all enquires .

    I'm hoping it'll all move fast now as there is no chain.
    • smallholdingsister
    • By smallholdingsister 11th Jul 17, 5:20 AM
    • 3,290 Posts
    • 24,266 Thanks
    smallholdingsister
    I can't do this. It's so stressful. My mortgage application for my new house has gone in but I'm so anxious that my own place will fall through or I'll be gazundered. I have no buffer as this was an unplanned move and am terrified of it all going wrong.
    :-(

    Please tell me it isn't only me who finds this all so very, very stressful and isolating.
    Originally posted by goodwithsaving
    The reason why most of my posts are 4am! Hang in there. Most transactions still work out.
    • Surrey_EA
    • By Surrey_EA 11th Jul 17, 8:32 AM
    • 1,023 Posts
    • 1,155 Thanks
    Surrey_EA
    Me too. Only doesn't completion have to be within a month of exchange?
    Originally posted by smallholdingsister
    Nope, the period between exchange and completion can be whatever is agreed between buyer and seller.

    However, there may well be conditions from a lender, should a mortgage be involved, and mortgage offers tend to have an expiry date.
    • DumbMuscle
    • By DumbMuscle 11th Jul 17, 10:16 AM
    • 241 Posts
    • 287 Thanks
    DumbMuscle
    Sent a quick email today asking for a further viewing so I can sort furniture before completion, and asking what kind of bulbs the light fittings take, since Amazon have the Philips Hue bulbs on sale today! Also ordered a load of other stuff which was on my list for the house anyway (all ordered to my parents' house, so I only have to move it once)
    • joshardy
    • By joshardy 11th Jul 17, 10:45 AM
    • 51 Posts
    • 36 Thanks
    joshardy
    So we're exchanging today with a completion scheduled for 17 July. How does it come around so fast when you seem to spend ages with no progress at all? Best get packing!
    • SideBurns1985
    • By SideBurns1985 11th Jul 17, 12:12 PM
    • 1 Posts
    • 2 Thanks
    SideBurns1985
    Hi all!

    Have been reading this thread with interest over the past couple of months. I'm a FTB and I've just been through the process of buying my first house. I'm very excited (and relieved) to be able to say that I exchanged yesterday and completed today!

    The vendor was chain free and I'm not moving in right away so we were both happy for a short period between exchange and completion (and I haven't picked up the keys yet!). The whole thing has taken 11 weeks from offer to completion.

    I thought it might be helpful to others if I set out a timeline of everything that happened along the way as I know "how long does it take?" is quite a common question.

    Here goes:

    early April - begin to have thoughts about trying to buy
    mid April - start scouting property websites to see what was out there
    25 April - contact mortgage broker to get some idea of how much I am likely to be able to borrow
    28/29/30 April - look on the usual websites to see what is available, find a property that I like

    Week 1
    3 May - view property for the first time
    4 May - view property for the second time, put in an offer, rejected
    5 May - put in a best and final offer, asked if it really is my best and final, offer marginally more (still below asking), accepted!

    Week 2
    8 May - get agreement in principle from mortgage lender
    10 May - instruct surveyor and solicitor

    Week 3
    15 May - return completed mortgage forms to broker
    17 May - mortgage passed to underwriters, solicitor receives draft contract from vendor's solicitors
    19 May - mortgage application approved subject to valuation

    Week 4
    22 May - receive mortgage offer
    24 May - solicitor receives mortgage paperwork, searches start coming back
    26 May - receive mortgage paperwork from the solicitor for signing

    Week 5
    30 May - return mortgage paperwork to solicitor, accompany surveyor around the property
    2 June - survey received

    Week 6
    8 June - email from solicitor with some responses to enquiries from the vendor.

    Week 7
    13 June - email from solicitor about further enquiries and asking about preferences for exchange and completion.

    Week 8
    23 June - receive draft contract and paperwork from solicitors, note a couple of issues

    Week 9
    26 June - send signed paperwork to solicitor with note for her to hold it back until issues resolved

    Week 10
    5 July - transfer exchange and completion monies to solicitor

    Week 11
    10 July - issues resolved, exchange
    11 July - complete

    Phew. Good luck to everyone else still waiting .
    • karl1989
    • By karl1989 11th Jul 17, 2:07 PM
    • 38 Posts
    • 48 Thanks
    karl1989
    been told at least 2 more weeks, just the bad news i didnt want! absolutely fuming
    now giving up all hope !
    good luck all, i will be found in the brewery.
    When the chips are down, go for broke and put them all on Red!
    • LuckyG
    • By LuckyG 11th Jul 17, 2:44 PM
    • 181 Posts
    • 184 Thanks
    LuckyG
    Had an email from my solicitor today, she's received correspondence in the post from the sellers solicitor but her remaining queries still aren't answered.

    I know that the drainage pipes are a remaining query but that's it, I'm completely in the dark and I don't like it.

    My solicitor is phoning the sellers solicitor today to see what they delay is as she says it's taking far too long to get resolved. I hope there isn't a major issue with anything.

    I'm currently looking at home insurance quotes as I didn't realise this had to start from exchange.
    On the plus side, I'm back at work tomorrow so I'm sure my thoughts will be elsewhere whilst there.
    • LuckyG
    • By LuckyG 11th Jul 17, 2:49 PM
    • 181 Posts
    • 184 Thanks
    LuckyG
    So we're exchanging today with a completion scheduled for 17 July. How does it come around so fast when you seem to spend ages with no progress at all? Best get packing!
    Originally posted by joshardy
    I haven't even got an exchange date yet and I'm almost packed hope I've not jinxed myself.

    I've got a lot of clothes to pack still but I've basically left 2 sets of bedding out, 4 towels and a few sparse cushions on the sofa I'm literally living in a shell now.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,080Posts Today

4,769Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See https://t.co/IQ8f0Vyetu RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin