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The NEW waiting to exchange thread...

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Comments

  • We were supposed to exchange today for completion next Thursday but found out at 4.45 (no response before that) from our buyer's solicitor that they are still waiting for the deposit to be sent over! Come on people, sort it out!
  • Rambosmum
    Rambosmum Posts: 2,445 Forumite
    First Anniversary First Post
    Well we didn't exchange today as hoped. The sellers solicitor is terrible, absolutely awful. Complains to my solicitor about their work load, how she's pestering him and needs to get off his back! He's like a petulant teenager! But, has agreed to get the queries to us on Monday and hopefully we'll exchange next Friday.

    We plan to complete on 4th as our buyers are homeless as of the 5th (not their fault).
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,594 Ambassador
    First Anniversary First Post Name Dropper I've been Money Tipped!
    Congratulations to all those who have exchanged and completed. Some good stories there. Alizee - sounds like a brilliant plan to buy your parents neighbours house, no EA fees and straightforward with no complications.

    Bhanson, sounds like it was all meant to be and the third house was the one for you. Sounds like you had good buyers too so hope all goes well for you.

    Messerish - I think I would have a scout around at other properties to see if there is anything else out there if your vendors are not committed sellers. Are you selling something or are you a first time buyer? What do your buyers say if not?

    I think if you have waited three months and no progress especially if queries on buildings regulations etc then I would be tempted to withdraw and look for something else. No reason why you cannot offer but not really fair on the new vendor if you then withdraw if things suddenly start happening on the previous house. I would think long and hard if this is the house for you and just start doing viewings again to see if there is something else out there you like at least as much as the first one.

    Progress on my sale is as follows:

    Contract sent to me by our solicitor along with some queries raised by buyers solicitors. Nothing too complicated so I send the contract up to London for my sister and brother to sign as the flat is in all three of our names. Only thing left to sign apparently is Transfer form when my solicitor receives it. Hopefully Ishould get the contract back signed by my siblings middle of next week.

    I am starting to think I should start clearing it now. I have not wanted to start removing furniture etc in case sale fell through and I need to readvertise it but so far so good.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • Hi to all,

    It's been one week. We still expect to have the draft contract from the seller's solicitor. How long has it taken in your cases? What is the acceptable time period for it? Thanks
  • 30/6/17: DIP received
    30/6/17: Offer accepted on property
    03/7/17: Mortgage Application accepted and survey paid for..
    11/7/17: Valuation Completed
    12/7/17: Call to confirm details..
    13/7/17: Mortgage offer issued!!
    13/7/17: Searches Paid
    27/7/17: Environmental search returned, No issues.
    2/8/17: Local searches returned, waiting on solicitor to review them..
    9/8/17: Closed HTB ISA's
    14/8/17: Received Closing statement from Lloyds.
    17/8/17: Vendor apparently signing paperwork today.. :D
    17/8/17: Booked appointment with solicitors to sign paper work for Monday afternoon..

    I cannot stress enough to you guys about closing the ISA's earlier.. I still haven't received the Barlcays statement.. although the solicitor said it would be OK as I can hand them in as soon as I get them.
  • Lu_equi
    Lu_equi Posts: 31 Forumite
    Our contract paperwork took 3 months to come through! ...... however most people seem to get it within a few weeks.
  • offer accepted 11th July and only thing I have had from solicitors is mortgage offer confirmation and deeds to sign. All sent back. No searches/ results, enquiries or contracts.

    I am going to give solicitor a ring next week re: timeframes as still have my HTB ISA to close too. The property is vacant but i'm purchasing freehold with the sale so am guessing this will cause delays. Also offer was reduced last week so imagine paperwork has to all be changed. argh. It is madness that we pay a solicitor all this money and they give us such little correspondence!!!! terrible!
  • davilown
    davilown Posts: 2,303 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    davilown wrote: »
    So here ours:

    10 Jun 17 Offered on house
    10 Jun 17 DIP with HSBC (I know...but we bank with First Direct)
    12 Jun 17 Offer accepted
    12 Jun 17 accepted asking price offer on current home
    13 Jun 17 Applied - "Decision Obtained"
    14 Jun 17 Uploaded all required documents
    28 Jun 17 Text with Mortgage accepted subject to valuation
    4 Jul 17 full mortgage offer!
    6 Jul Buyer withdraws :(
    10Jul New Buyer
    12 Jul Buyer withdraws as their timeline doesn't match ours :(
    18 Jul Cash buyer with lower offer than we could afford
    20 Jul vendor agrees to reduce price on our purchase so all back on :)
    21 Jul Realise need to apply for new mortgage as this takes us over 60% ltv :O

    Fingers crossed it all goes through in Sept
    Quick update:
    31 Jul Revised mortgage offer received
    5 Aug DW met the vendor (probate) whilst being nosy in the garden - lovely people and happy to wait!
    10 Aug queries answers received back
    14 Aug all searches ok

    Still waiting for our buyer to book a survey though...... hopeful for a mid September completion - DW goes on holiday for a week so I can strip me redec the house in peace ;)
    30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.
  • Slinky
    Slinky Posts: 9,982 Forumite
    Name Dropper First Anniversary First Post
    Posted our signed contracts through solicitors' door today after final inspection of the property yesterday. Hoping to exchange on Thursday after 21 weeks.........
    Make £2024 in 2024
    Prolific to 29/2/24 £184.97, Chase Interest £11.88, Chase roundup interest £0.18, Chase CB £16.96, Roadkill £1.10, Octopus referral reward £50, Octopoints £6.30 to 31/1/24, Topcashback £4.64, Shopmium £3
    Total £279.03/£2024  13.8%

    Make £2023 in 2023
    Water sewerage refund: £170.62,Topcashback: £243.47, Prolific: to 31/12/23 £975, Haggling: £45, Wombling(Roadkill): £6.04,  Chase CB £149.34, Chase roundup interest £1.35, WeBuyBooks:£8.37, Misc sales: £406.59, Delay repay £22, Amazon refund £3.41, EDF Smart Meter incentive £100, Santander Edge Cashback-Fees: £25.14, Octopus Reward £50, Bank transfer incentives £400
    Total: £2606.33/£2023  128.8%

  • lazer-zxr
    lazer-zxr Posts: 446 Forumite
    First Anniversary Combo Breaker First Post Debt-free and Proud!
    Hello all.
    I'm waiting to exchange. Everything was going swimmingly, with a 4 part chain below us, and an empty dream lifetime house we are purchasing.
    I am now gutted, as it turns out my solar panels needed planning permission as permitted development rights were removed for my estate, and so I've become the sticking point in the chain. Retro planning permission is in, but my buyers and the sellers of the house I want to buy, are unlikely to wait the 8 weeks of planning permission. It looks like it'll all collapse.

    I have proposed a £5k retention on the sale of my house regarding the pending planning permission or remedial work required, and hope to hear back from my buyers on this today. fingers crossed!
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