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  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,506Posts
    • 9,213Thanks
    happytails
    The NEW waiting to exchange thread...
    • #1
    • 27th Jul 17, 5:20 PM
    The NEW waiting to exchange thread... 27th Jul 17 at 5:20 PM
    So the other thread has gone awol so thought i'd start a new one! It was keeping me sort of sane during the house buying/selling process!

    A place to document your timelines and discuss the triumphs and woes of moving house!




    My timeline -
    Offer received and accepted on our house 17/07
    Offer made and accepted on the house we want 17/07
    Solicitors Instructed 17/07
    Meeting with mortgage advisor, all docs given 18/07
    Mortgage application submitted to Nationwide 19/07
    Documents picked up and filled in from Solicitor 19/07
    Documents and ID returned to Solcitor 20/07
    Valuation booked 20/07
    Solicitor composes draft contract & starts local searches 25/07
    Valuation carried out 26/07
    Solicitor gave us our fixtures and fittings form for purchase and requested marriage certificate 26/07
    My buyers valuation carried out 27/07
    Mortgage offer given 27/07

    Sarah

    Official MoneySavingExpert.com Insert:

    Hi all! For more help with your move read our guide:

    50+ House Buying Tips
    Last edited by MSE Andrea; 06-10-2017 at 11:50 AM.
    Sarah,

    Trying to move up the house ladder in 2017, running a business with 3 kids in tow & slowly going crazy!
    Member No43 - % Challenge
Page 38
    • Scotbot
    • By Scotbot 9th Oct 17, 11:07 AM
    • 71 Posts
    • 38 Thanks
    Scotbot


    They have also requested that I get an electrical report for the house - they can go whistle for that one! Why should I pay?! They've not even had a survey. It's like asking me to pay for their survey!

    Grrr. So frustrating. They seemed so nice as well. Funny how the longer into this process the more horrible/demanding people get...
    Originally posted by hazyjo
    Are they FTB who don't know the ropes? I had a survey snd electrical check done, paid for both but the priced reduction I negotiated as a result more than covered the cost.
    • Natbag
    • By Natbag 9th Oct 17, 4:37 PM
    • 1,084 Posts
    • 718 Thanks
    Natbag
    Mine was going so smoothly...


    Buyers now won't accept £120 for the broken (probably, may be repairable) dishwasher so getting (another) engineer out today to take a look. Will have to replace if he can't fix it which is sooooo annoying. Reluctant to replace before getting it looked at in case the prob is with something else rather than the actual dishwasher. Will try to replace with 2nd hand if it comes to that.


    They have also requested that I get an electrical report for the house - they can go whistle for that one! Why should I pay?! They've not even had a survey. It's like asking me to pay for their survey!


    Grrr. So frustrating. They seemed so nice as well. Funny how the longer into this process the more horrible/demanding people get...
    Originally posted by hazyjo
    My buyers had the home buyers report survey, plus an electrical survey - they paid for it, but it was a pain as the electrician spent 3 hours examining every plug, socket and behind every fixed appliance, having switched off the supply to the house. Then he decided we needed a new fuse box and smoke alarms, although the buyers have agreed to do the work themselves after completion. They would have had a gas engineer report too but I was able to submit paperwork to prove the service was up-to-date so they didn't bother.
    Hope you can negotiate - do you have any paperwork you can submit that may alleviate their concerns? I know it's not typical to have a service on the electrical side of things like you would with a boiler.
    • Natbag
    • By Natbag 9th Oct 17, 4:38 PM
    • 1,084 Posts
    • 718 Thanks
    Natbag
    No update from me. No word from the EA to let us know whether our buyers' mortgage is sorted or not, and they haven't replied to me asking. Sigh. Fed up of the constant waiting on the latest batch of good/bad news in this process.
    • purpleparrotuk
    • By purpleparrotuk 9th Oct 17, 5:43 PM
    • 224 Posts
    • 35 Thanks
    purpleparrotuk
    Getting rather peed off now. Only 3 in our chain. We have all been ready to exchange since last week but the FTbuyers buying mine are saying they can’t transer the deposit until the middle on this week. We have all agreed on a completion day too. I’m not sure what the hold up with the deposit is. Surely if you are buying a house you would have the deposit all ready. Especially if you know it’s near to exchange.
    • Fiesto88
    • By Fiesto88 9th Oct 17, 6:00 PM
    • 90 Posts
    • 58 Thanks
    Fiesto88
    Our solicitor was poised ready to request the mortgage funds in order to exchange this week to complete on Friday - providing the seller coughed up the last remaining piece of documentation by close of business today. It would appear from the silence today that this hasn’t happened.

    Back on the chase tomorrow it seems.
    • Natbag
    • By Natbag 9th Oct 17, 6:00 PM
    • 1,084 Posts
    • 718 Thanks
    Natbag
    Getting rather peed off now. Only 3 in our chain. We have all been ready to exchange since last week but the FTbuyers buying mine are saying they canít transer the deposit until the middle on this week. We have all agreed on a completion day too. Iím not sure what the hold up with the deposit is. Surely if you are buying a house you would have the deposit all ready. Especially if you know itís near to exchange.
    Originally posted by purpleparrotuk
    Similar situation, same stage, only 3 in our chain and only our delay seems to be a mortgage formality with our FTB - although knowing my luck, it will a deposit issue next. We've unofficially been given an exchange date of this Friday and completion date of next Friday and I really want to keep to it. And no-one is telling me what's happening. So frustrating. You could still exchange and complete quickly. Fingers crossed we both get some positive news/progress asap.
    • Natbag
    • By Natbag 9th Oct 17, 6:02 PM
    • 1,084 Posts
    • 718 Thanks
    Natbag
    Our solicitor was poised ready to request the mortgage funds in order to exchange this week to complete on Friday - providing the seller coughed up the last remaining piece of documentation by close of business today. It would appear from the silence today that this hasnít happened.

    Back on the chase tomorrow it seems.
    Originally posted by Fiesto88
    Seems as though there are a few of us so near, yet so far! Fingers crossed it has been submitted today and they just haven't updated you, or at least that it gets sorted tomorrow. Get chasing them definitely.
    • Cinders:
    • By Cinders: 9th Oct 17, 6:29 PM
    • 146 Posts
    • 797 Thanks
    Cinders:
    Natbag, is so frustrating isn't it, when nobody keeps you updated with progress.

    We're supposed to be exchanging contacts tomorrow, but can't see it happening. Having a slight wobble about the idea of moving to a new house. Our new house is brilliant, ticks all the boxes, and we have definitely outgrown our current house. I've lived here for 16 years, and it feels like a giant safety net. The idea of moving to a new home is suddenly feeling a little bit scary!
    SPC # 115
    • westv
    • By westv 9th Oct 17, 6:33 PM
    • 4,311 Posts
    • 1,882 Thanks
    westv
    6 weeks in and all we have so far is that our buyer's solicitor has raised queries and that the TR1 form has been signed by us. No news on how our buyers are getting on with their sale.
    Originally posted by westv
    Email from EA today. They have spoken to my buyer who told them she will be going to her solicitor on Wednesday "to go through paperwork".
    • Fiesto88
    • By Fiesto88 9th Oct 17, 6:38 PM
    • 90 Posts
    • 58 Thanks
    Fiesto88
    Seems as though there are a few of us so near, yet so far! Fingers crossed it has been submitted today and they just haven't updated you, or at least that it gets sorted tomorrow. Get chasing them definitely.
    Originally posted by Natbag
    I definitely will be. Whatís slightly worrying is that itís potentially a make or break document that our mortgage lender wonít proceed without.The solicitor said itís highly unlikely that this document doesnít exist unless the conveyancing when the vendor bought the property was botched - hence his confidence in proposing to complete this week.

    If it doesnít exist, it can be retrospectively obtained but at expense for the vendor and, likely, adding another couple of weeks. But if the property is unmortgageable without it, I guess they donít have a choice.
    • purpleparrotuk
    • By purpleparrotuk 9th Oct 17, 7:00 PM
    • 224 Posts
    • 35 Thanks
    purpleparrotuk
    Regarding my first time buyers deposit, surely as part of the process the solicitor and mortgage provider ask where the money is coming from. I really donít understand why itís not readily available and what the hold up is.

    By the way when will the solicitor ask about the buildings insurance on my new house? Will it be on the day of exchange? She hasnít mentioned or asked for it yet but obviously I need to know we are exchanging that day to confirm it with my insurers.
    Last edited by purpleparrotuk; 09-10-2017 at 7:09 PM.
    • Pumpkim
    • By Pumpkim 9th Oct 17, 7:12 PM
    • 165 Posts
    • 170 Thanks
    Pumpkim
    Call from solicitor today got me excited as she usually emails so thought it was going to be that were ready to agree exchange and completion. But no, just an update
    Everything for sale is done and both sides happy, still waiting on indemnity policy for purchase and something to do with a change of name for the vendor. She said she's still confident we can aim to complete on 3 November but then asked if I knew if the vendor had a linked transaction
    But miffed with that as I thought she would already be talking about these things with their solicitor. In an ideal world I wanted two weeks between exchange and completion as I can't do things like book time off, arrange removals or most importantly confirm my son's school place without a definite date and I need time to do all that. It's looking more and more like the timing will be tight and I don't want to be the awkward member of the chain, so I suppose I'll just suck it up and crack on
    • Jaglad111
    • By Jaglad111 9th Oct 17, 7:16 PM
    • 114 Posts
    • 176 Thanks
    Jaglad111
    Hi Purpleparrot, I was only asked for proof I had a deposit, not how quickly I could release it. I had 9.5k in a htb s&s lisa. It takes around a week to close, unlike the isa. I wasn't aware of that until I closed it. Thankfully I released it early in the process, maybe your buyers are waiting on that. Others may run their isa's right to the wire as any delay in exchange is lost bonus. Frustrating for you I know but hopefully nothing to worry about.
    • Slinky
    • By Slinky 9th Oct 17, 7:23 PM
    • 4,576 Posts
    • 19,501 Thanks
    Slinky
    Snake???????
    I must have missed that one
    Originally posted by toc25


    We got a phone call saying we had completed and by the way there's a grass snake in the compost bin, don't worry they're harmless.


    Fortunately it had disappeared by the time we picked the keys up 3 days later.
    • purpleparrotuk
    • By purpleparrotuk 9th Oct 17, 7:23 PM
    • 224 Posts
    • 35 Thanks
    purpleparrotuk
    Hi Purpleparrot, I was only asked for proof I had a deposit, not how quickly I could release it. I had 9.5k in a htb s&s lisa. It takes around a week to close, unlike the isa. I wasn't aware of that until I closed it. Thankfully I released it early in the process, maybe your buyers are waiting on that. Others may run their isa's right to the wire as any delay in exchange is lost bonus. Frustrating for you I know but hopefully nothing to worry about.
    Originally posted by Jaglad111
    Thanks for the reply. Would be nice if they said thatís what the delay is though, to stop me panicking.
    • Natbag
    • By Natbag 9th Oct 17, 8:23 PM
    • 1,084 Posts
    • 718 Thanks
    Natbag
    Cinders: I'm the same, we have just got this house the way we like and we have a blank canvas to start again with at the new house. Plus I'll lose my lovely new bathroom, sob. I'm sure it will be ok once we have put our own stamp on it.
    Fiesto88 - it's awful isn't it when it's so important but out of your control. Same with us, our buyers getting their mortgage stamped is a pretty big deal, and a deal breaker if it goes wrong. We are already on our second lot of buyers, and I just don't think we could/would go round a third time.
    Purpleparrot, with regards to your insurance, just contact them on the day of exchange and they should be able to add in temporary cover on both properties until you complete. Having home insurance is normally a requirement, but I don't think proof is required usually.
    Pumpkin, sorry you had no progress joy today either. Let's hope tomorrow is better!
    • hazyjo
    • By hazyjo 10th Oct 17, 12:03 AM
    • 9,624 Posts
    • 12,136 Thanks
    hazyjo
    Are they FTB who don't know the ropes? I had a survey snd electrical check done, paid for both but the priced reduction I negotiated as a result more than covered the cost.
    Originally posted by Scotbot
    Nope - 2nd time buyers. Coming from a flat. My solicitor sided with me and said no, they'll be looking for a reduction, they can pay for it if they want it.

    My buyers had the home buyers report survey, plus an electrical survey - they paid for it, but it was a pain as the electrician spent 3 hours examining every plug, socket and behind every fixed appliance, having switched off the supply to the house. Then he decided we needed a new fuse box and smoke alarms, although the buyers have agreed to do the work themselves after completion. They would have had a gas engineer report too but I was able to submit paperwork to prove the service was up-to-date so they didn't bother.
    Hope you can negotiate - do you have any paperwork you can submit that may alleviate their concerns? I know it's not typical to have a service on the electrical side of things like you would with a boiler.
    Originally posted by Natbag
    Exactly - their responsibility to instruct and pay. Damned if I'm going to pay for their report so they can knock the price down! Just had to pay nearly £500 for the bloody dishwasher to be looked at (twice) and replaced. The £120 I offered to leave was more than fair - but apparently not to them. Grrrr.

    We have a new boiler thankfully - well, a year old nearly now. The electrics thing is because I didn't get the electrical certificate after the kitchen was installed. I'm already paying for an indemnity policy for it. They can have that OR an electrician's report on the kitchen only. Anything else is down to them. I don't have any other paperwork.
    2017 wins: Opera tickets; film preview; lipstick; Ideal Home Show tickets + afternoon tea & bottle of Champagne; 2 cases of NKD; notebook; bath rack; books; film Premiere; Broadchurch DVDs; lipbalms; hamper (food/wine/Echo Dot/Jo Malone goodies); Avon lippies; cowhide rug; Windsor luxury break, foundation; Flybe flight
    • goodwithsaving
    • By goodwithsaving 10th Oct 17, 8:03 AM
    • 646 Posts
    • 987 Thanks
    goodwithsaving
    16 weeks in and having to exchange on sale. Will lose a substantial sum due to redemption penalties. I'm done with the whole thing. Prices are falling anyway.
    I hate the system.
    Last edited by goodwithsaving; 10-10-2017 at 8:42 AM.
    Every time you borrow money, youíre robbing your future self. ĖNathan W. Morris
    • Natbag
    • By Natbag 10th Oct 17, 10:20 AM
    • 1,084 Posts
    • 718 Thanks
    Natbag
    goodwithsavings - it is a poor system. Are you experiencing a hold up with your purchase then?

    Update from me, our buyers had their mortgage appointment on Saturday but forgot to take the references that the lender was waiting for. They are being emailed today, so hopefully the formal offer will be received by the end of the week. Still no idea why this is still outstanding after 5 weeks. I think we are also still waiting from the replies to our enquiries from our vendor, which I'd forgotten about. So I'm guessing that we won't be exchanging this week now, and likely not completing next week either. Sigh.
    • hazyjo
    • By hazyjo 10th Oct 17, 11:54 AM
    • 9,624 Posts
    • 12,136 Thanks
    hazyjo
    My buyers have decided they now want a 'private survey' 9 weeks in. ARGHHHHHHH. I have been calm and now I am extremely stressed. If they try and knock me down I shall be telling them where to stick it. Not happy.
    2017 wins: Opera tickets; film preview; lipstick; Ideal Home Show tickets + afternoon tea & bottle of Champagne; 2 cases of NKD; notebook; bath rack; books; film Premiere; Broadchurch DVDs; lipbalms; hamper (food/wine/Echo Dot/Jo Malone goodies); Avon lippies; cowhide rug; Windsor luxury break, foundation; Flybe flight
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