Living in Limbo Land - waiting for Exchange of Contracts

ashli_2

Greetings fellow countrymen


I thought we would have our keys by now, but every time our vendors solicitor replies to our enquiries there seems to be something missing :rolleyes:


Fingers crossed (but no holding of breath) that it will all be in order by the end of the week!

golfnutt

funkster01 wrote: »

I am also in the stage too. my mortgage offer ends on july first, and it says they may need to change the mortgage after 16 weeks. does that mean it could go up due to raise in interest rates? stressed FTB!

Yes. An agreement in principle is generally 3 months, The mortgage offer is usually valid for 3 or 6 months depending on the lender etc...

brock-cruse

Think the banks should get with it...dont they realise how long it actually takes to buy and sell these days :rolleyes: In our first attempt took us 7 months only for it to all fall through.Unfortunately my mortgage offer was the least of my worries when the vendor pulled out. Do mortgage companies easily extend this 6months or do they insist that you buy a new product eg another fixed rate???? Its also annoying that the searches are only valid for 6 months too. Think they should make it a year!!!

alfiedog_2

I am sitting waiting for call from EA as everyone in our chain of 6:eek: is ready to exchange apart from one lot in the middle:mad: Don't know what the problem is but the stress of all this is driving me up the wall!

RobertinHerts

alfiedog wrote: »

I am sitting waiting for call from EA as everyone in our chain of 6:eek: is ready to exchange apart from one lot in the middle:mad: Don't know what the problem is but the stress of all this is driving me up the wall!

Don't just sit there. Call / visit everyone!! Unless someone pushes / makes a nuisance then nothing much will happen. I'm learning that the EAs and Sols say 'hopefully' a lot but they are ALL waiting for everyone else to do something:doh:

Robert

alfiedog_2

EA can't get hold of our buyers or our vendors to discuss possible completion date of 19th June which is what FTB at bottom of chain wants, don't know about the others in chain Our vendors have said right from the start that they would move out to avoid holding up the chain but I think they may waver on this just as everyone on here says people do when it comes to the crunch.

RobertinHerts

alfiedog wrote: »

Our vendors have said right from the start that they would move out to avoid holding up the chain but I think they may waver on this just as everyone on here says people do when it comes to the crunch.

We considered renting for a period as an option in case our vendor pulled out but then realised we couldn't afford it as prices increased.

jenz

I'm sick and tired of being in limbo land. I am continually chasing our estate agents - are we allowed to contact our buyers estate agents and other parties concerned?

danuk

similar situation here meant to exchange last friday and complete this friday but exchange never happened, may now exchange today but still no news about completion other than its too late to complete this friday now so next available date of completion is 22nd.

RobertinHerts

jenz wrote: »

I'm sick and tired of being in limbo land. I am continually chasing our estate agents - are we allowed to contact our buyers estate agents and other parties concerned?

Well, why not?!! You're entitled to know the current situation. Sorry but no one else is bothered how you feel other than the empathy from this Forum.

Communication is appalling!

We've effectively had the individual in our agents replaced by a more dynamic one. Our Vendor's agent calls me to find out what's happening and I email him frequently. I also email our Sol with the latest news as I know it. I've also visited our buyers EA in order to get an update and spoken to our Buyer of course.

Robert