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  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,506Posts
    • 9,216Thanks
    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 87
    • mailmannz
    • By mailmannz 6th Dec 17, 1:47 PM
    • 252 Posts
    • 120 Thanks
    mailmannz
    Thought we were getting close to settling on an exchange date but an issue with the houses conservatory has come up.

    Our lawyers say the conservatory requires planning permission because its open plan and the wall mounted heating has been plumbed in to the central heating system for the house.

    The solicitors say we have two options. The first one is to request the vendors put internal doors in (so turning the conservatory from an extension to a conservatory) but more problematic for them to get planning permission because of the heating being connected main central heating system.

    The second option was to take insurance cover out that protects against the costs incurred if we have to fix everything (ie. get planning permission) as, in the solicitors opinion, the house would not be sellable without the insurance being in place for future sales.

    I guess there is a third option and that would be to walk away from the sale, which we don't really want to do at this point.

    Has anyone here come across an issue like this in the past? If so, how did you handle it?

    Thanks in advance.

    Mailman
    • sugar_candy_123
    • By sugar_candy_123 6th Dec 17, 2:15 PM
    • 16 Posts
    • 24 Thanks
    sugar_candy_123
    Well we are now on week 17, buying a new build no chain. We are waiting on the developer responding to our quieries (there were 21) they have had them for 4 weeks now. Given them a deadline date of conpletion next fri or we pull out (as mortgage offer expires). The waiting is killing us inside, fingers crossed for some good news soon. I’m hoping to exchange and complete same day, if we run out of time to be able to exchange earlier. How Lon do you need between exchange and completing if you are getting a mortgage? Does it take time for solicitor to request mortgage funds?
    Good luck to everyone else.
    • sugar_candy_123
    • By sugar_candy_123 6th Dec 17, 2:22 PM
    • 16 Posts
    • 24 Thanks
    sugar_candy_123
    Hi mailmannz, we sold our house back in August and had a similar problem where we didn’t have evidence of permissions for 2 things. The buyers said they would continue with purchase if we provided an indemnity insurance policy for each issue, which we did. Each policy cost us approx £150. Speak to your solicitor and request the seller provides an indemnity policy, then you can sort out the issue at a later date.
    • natashah1903
    • By natashah1903 6th Dec 17, 3:42 PM
    • 5 Posts
    • 3 Thanks
    natashah1903
    Oh no ...that sucks

    ...any reason ?
    Originally posted by Littlebobo1981
    it does suck indeed yes you would think that we have been told its gone to appeal but to consider other properties.
    • mailmannz
    • By mailmannz 6th Dec 17, 4:00 PM
    • 252 Posts
    • 120 Thanks
    mailmannz
    Hi mailmannz, we sold our house back in August and had a similar problem where we didnít have evidence of permissions for 2 things. The buyers said they would continue with purchase if we provided an indemnity insurance policy for each issue, which we did. Each policy cost us approx £150. Speak to your solicitor and request the seller provides an indemnity policy, then you can sort out the issue at a later date.
    Originally posted by sugar_candy_123
    Hi Sugar,

    Yes, our solicitors mentioned the indemnity to the vendors solicitors who came back saying the vendors won't pay for it.

    Im not losing sleep as the insurance is £60 so not overly bothered by having to pay out for it.

    Regards

    Mailman
    • Katapolt
    • By Katapolt 6th Dec 17, 4:31 PM
    • 69 Posts
    • 59 Thanks
    Katapolt
    Well we are now on week 17, buying a new build no chain. We are waiting on the developer responding to our quieries (there were 21) they have had them for 4 weeks now. Given them a deadline date of conpletion next fri or we pull out (as mortgage offer expires). The waiting is killing us inside, fingers crossed for some good news soon. Iím hoping to exchange and complete same day, if we run out of time to be able to exchange earlier. How Lon do you need between exchange and completing if you are getting a mortgage? Does it take time for solicitor to request mortgage funds?
    Good luck to everyone else.
    Originally posted by sugar_candy_123
    Im surprised the developer has taken so long, they tend o want to push completion so they can start on the next phase!

    chase them, they will need nagging by the sounds of it.

    Re the mortgage and exchange/completion dates it all depends on your lender, ask them if they have any requirements. my docs said 14 days notice to complete but on the phone they said they only need a few days.
    FTB 2017
    Currently dealing with a Quarter Life Crisis
    • chazzab
    • By chazzab 6th Dec 17, 5:18 PM
    • 10 Posts
    • 20 Thanks
    chazzab
    please, tell me you're my vendor! The timeline is suspiciously spot on (and if you are, just know that I'm waiting for the lender to contact me back with the valuation date)
    Originally posted by Aliliva
    Ahh I wish! Your story does sound very suspiciously like my same but a few details don't quite add up. (My flat was a split from the original and lots of leasehold /freehold entries! Spookily similar but I dont think it is! (My flat is in Poole!)

    I've just been told a date of Tuesday for be valuation so that's some progress. I can breathe til Tuesday and nothing else can go wrong (at least o hope not!) til then!
    • MRPEEVED
    • By MRPEEVED 6th Dec 17, 7:02 PM
    • 25 Posts
    • 5 Thanks
    MRPEEVED
    I was told yesterday that exchange was imminent. Both us and our buyer are desperate to move before Christmas...clocks ticking.
    • Pumpkim
    • By Pumpkim 6th Dec 17, 7:15 PM
    • 213 Posts
    • 254 Thanks
    Pumpkim
    Thought we were getting close to settling on an exchange date but an issue with the houses conservatory has come up.

    Our lawyers say the conservatory requires planning permission because its open plan and the wall mounted heating has been plumbed in to the central heating system for the house.

    The solicitors say we have two options. The first one is to request the vendors put internal doors in (so turning the conservatory from an extension to a conservatory) but more problematic for them to get planning permission because of the heating being connected main central heating system.

    The second option was to take insurance cover out that protects against the costs incurred if we have to fix everything (ie. get planning permission) as, in the solicitors opinion, the house would not be sellable without the insurance being in place for future sales.

    I guess there is a third option and that would be to walk away from the sale, which we don't really want to do at this point.

    Has anyone here come across an issue like this in the past? If so, how did you handle it?

    Thanks in advance.

    Mailman
    Originally posted by mailmannz
    Hi Sugar,

    Yes, our solicitors mentioned the indemnity to the vendors solicitors who came back saying the vendors won't pay for it.

    Im not losing sleep as the insurance is £60 so not overly bothered by having to pay out for it.

    Regards

    Mailman
    Originally posted by mailmannz
    Hi Mailman, we are about to complete on a house with exactly the same conservatory design you describe. We have accepted an indemnity which the buyers paid for at a cost of £38. This in itself tells me how little risk there is of any comeback so we're not concerned at all about the setup. I'm really surprised at your buyers not paying for the policy but at the same time I also would just pay it myself if I really wanted the house. We really wanted the house, so seeking retrospective permission wasn't something we considered for the fact it would slow everything down and also the chance it wasn't granted meaning any future indemnity would be invalid.
    • mutley74
    • By mutley74 6th Dec 17, 8:42 PM
    • 3,731 Posts
    • 1,267 Thanks
    mutley74
    I paid for searches 2 weeks ago. Vendor disagree on the completion date he told me (from what I told vendors since October) - so I advised my solicitor I can only do completion mid-January. I have not heard anything the past 2 weeks - should I be concerned or just hold on??
    • ang87
    • By ang87 6th Dec 17, 8:52 PM
    • 5 Posts
    • 10 Thanks
    ang87
    Hi Everyone
    Been following for a while but decided now to post. We are FTB and very excited. Our time line is:
    Viewing 27th October
    Offer accepted 28th October
    Mortgage application submitted 30th October
    Solicitor instructed 2nd November
    Survey conducted 6th November
    Mortgage offer received 8th November
    Searches submitted 17th November

    We have completed our paperwork and returned Ed with proof of deposit and now just waiting on our solicitor to get back to us. All very excited and Congratulations to everyone exchanging and completing
    • JoJo1978
    • By JoJo1978 6th Dec 17, 9:01 PM
    • 180 Posts
    • 175 Thanks
    JoJo1978
    Do you know when you are due to exchange, Mutley74? Completion only gets finalised them so it may be that your vendor is working out exactly when is possible based on your preference. I wouldn't be concerned so long as the solicitors are making progress on the searches, after the searches come back they will raise questions to your sellers solicitor so may take a while. I used to check in with our solicitor once a week.

    Hello ang87!
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Second career (what TBD!) 2018
    • mutley74
    • By mutley74 6th Dec 17, 9:15 PM
    • 3,731 Posts
    • 1,267 Thanks
    mutley74
    Do you know when you are due to exchange, Mutley74? Completion only gets finalised them so it may be that your vendor is working out exactly when is possible based on your preference. I wouldn't be concerned so long as the solicitors are making progress on the searches, after the searches come back they will raise questions to your sellers solicitor so may take a while. I used to check in with our solicitor once a week.

    Hello ang87!
    Originally posted by JoJo1978
    Jojo1978 - I not been advised any dates on exchanging. I guess they maybe waiting to clear the searches, will give them a few days and call them up.
    • kates08
    • By kates08 7th Dec 17, 7:04 AM
    • 51 Posts
    • 26 Thanks
    kates08
    Haven't been on here in a while but needed to vent.

    We were on holiday last week and were told that we should be setting a date for exchange this week, possibly completing before Xmas. Turns out the that bottom of the chain's solicitor has 'dropped the ball' (according to our EA) and hasn't actually done their searches yet! I have no idea how no one realised this.
    I've never been through such an emotional rollercoaster as this transaction has been so far. My solicitor is acting like I'm a pain on the !!!! for checking in with him once a week and I have to leave him about 4 messages (one a day, not all in one day) before he gets back to me.

    I really want to exchange before Christmas so we can enjoy ourselves without doubt hanging over us :-(
    • JoJo1978
    • By JoJo1978 7th Dec 17, 8:15 AM
    • 180 Posts
    • 175 Thanks
    JoJo1978
    Kates08 it's that uncertainty that kills, right? Have you got any route via your EA to contact your buyer directly - might be that they're just as frustrated/worried as you and you could join forces to get your buyers solicitor to feel some pressure.

    In the end all the chain sols put pressure on the bottom of our chain (our buyers solicitor) and it did come good in the end but it was tense.

    Hang in there
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Second career (what TBD!) 2018
    • kates08
    • By kates08 7th Dec 17, 9:21 AM
    • 51 Posts
    • 26 Thanks
    kates08
    Thanks JoJo, definitely is the uncertainty that does it. Our EA is really good at keeping in touch with the whole chain (FTB, our buyer, us, vendor, empty property), but we seem to get completely conflicting messages from EA and our solicitor.
    The other annoying thing is that our EA seems to be able to speak to our solicitor at the drop of a hat whereas it takes 4 days of me leaving messages before he returns my calls.

    My husband thinks I should just leave it and trust the solicitor to get on with it, but I think I should be chasing once a week at this stage. How often would you ask for an update when you're close to exchange?
    • clairesilverspar
    • By clairesilverspar 7th Dec 17, 9:26 AM
    • 71 Posts
    • 80 Thanks
    clairesilverspar
    Due to exchange today. Finding it hard to focus on work while waiting for the phone call from the solicitor. It's a nerve wracking wait.


    Fingers crossed Kates08, I was chasing up my solicitor daily and getting no response, and I think the only reason we've gone a lot quicker in the last couple of weeks is that I'm making a nuisance of myself. Try not to worry about what the solicitor thinks. You're paying them to do a job and you're entitled to stay updated. Hope it gets resolved quickly for you!


    Edited to add: I went three weeks without a peep from the solicitor and ended up asking for the supervisors details which kicked them into gear. I think once a week is more than reasonable for an update.
    • kates08
    • By kates08 7th Dec 17, 9:49 AM
    • 51 Posts
    • 26 Thanks
    kates08
    Fingers crossed for you today Claire!
    • HappyLassie13
    • By HappyLassie13 7th Dec 17, 11:21 AM
    • 24 Posts
    • 59 Thanks
    HappyLassie13
    An update to our progress.

    Probate has been granted on the house we are purchasing. We are suggesting a Completion date of Friday the 15th. Fingers, toes and all limbs crossed.
    Will be 13 weeks on Saturday since our offer was accepted.
    • Aliliva
    • By Aliliva 7th Dec 17, 11:22 AM
    • 85 Posts
    • 237 Thanks
    Aliliva
    Ahh I wish! Your story does sound very suspiciously like my same but a few details don't quite add up. (My flat was a split from the original and lots of leasehold /freehold entries! Spookily similar but I dont think it is! (My flat is in Poole!)
    Originally posted by chazzab

    too bad, I'm buying in *sort of* London! But so far I can't complain about the vendors, they're definitely on top of their game

    I'm sure the bank will speed up the valuation in the run up for Xmas anyway, they don't have reasons to delay it (and it's not like there is so much demand for surveyor this time of the year)
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