Apologies if I'm being dim - letter from solicitor...

pops5588

FTB here so please be gentle!!

Right so we put an offer in, which was accepted. The mortgage application is underway (house is being valued as I type) and we have paid the solicitor for the searches. We received a letter today from our solicitor saying "Just a short note to confirm that we have no received a draft Contract and supporting papers from your Sellers conveyancers".

So...in english? Does this mean we are slowly moving towards exchange? This is all 'good' news right?

richardw

You haven't got a mortgage yet, so best to wait for that before worrying about exchange.

kingstreet

Does that mean "now" or "not?"

If "not", it means the legal work cannot start because the vendor's solicitor has not yet forwarded the draft contract.

Has the vendor found a property? Is there a problem with the title, or the vendor's right to sell? Negative equity?

You need to be asking your solicitor to establish the reason from the vendor's solicitor. If the vendor is not making progress, you may be forking out for mortgage fees potentially unnecessarily.

If "now" your assumption is correct and the legal work can now begin.

cajef

Assuming that should read 'we have now received a draft contract' then yes the wheels are now beginning to slowly grind.

pops5588

Apologies, that was meant to read now.

Our mortgage broker told us that all our checks were "fantastic" to the extent where the lender wasn't even hugely bothered about seeing our bank statements (still gave them to him) so I guess I am hoping that on the mortgage front everything will be fine. Unless the house is about to fall to the ground of course...

The vendor hasn't found a property to move into yet, one of the reasons they accepted a fairly low offer from us was because we said we wouldn't rush them but they did say last week that they were prepared to move into rented accommodation if needs be so fingers crossed....