Race to be in before Summer

michjoe

Ugh I am getting so fed up with waiting now. Still waiting for a date to exchange, my OH spoke to the builder of our new house today and he was under the impression that we had signed on Friday and we were moving this Friday, we were supposed to sign on Friday but due to our buyer's sol waiting for balance documents and funds from his client before he can proceed we didn't.

Now our solicitor has gone away till 9th so another lady is supposed to be chasing our file up on her behalf but she has now told our mortgage adviser that it is unlikely that we will exchange until our solicitor gets back, so the world stops because people take hol's.

Oh has anybody any idea what these balance document's and funds are what are buyers solicitor is waiting for?? I have asked for an explanation by email from our solicitor but haven't had any reply.

Does anybody think I should start a new thread 'Race to be in before 2010'???

nik_k

UPDATE:

We exchanged yesterday :j

Completion is supposed to be Friday (6th). However, actual completion date has been set as Tuesday (10th) as mortgage lender cannot guarantee monies will be with solicitor by Friday :mad:

Anyways...we will definitely be in by next Tuesday :T

(Offer accepted May 14th, Completion (at latest) July 10th, so 57 day turnaround)

Good luck to everyone else - success is just around the corner I'm sure!

kingkano

Good news there well done!!

We are getting close. We just got our contract and mortgage deeds to sign. The only thing outstanding then is building regs from our sellers (please be any day now!!). Our solicitor says they need a minimum 5 working days between exchange and completion to get the monies in *sigh* and actually WANT 10 days. Not sure how the heck people exchange/complete same day then??? The solicitors letter actually said something about a cheque for mortgage monies!!! How stupid?!?

Anyways. They said on the phone if the building regs are in we could possibly exchange this week. Fingers firmly crossed!! And we'll see if we can push them for next week completion if we do. Only to keep our buyer happy. If not its the week after anyways.

Just insurance to arrange (and removalists doh)!

nik_k

When we bought our first house, back in 2001, we exchanged and completed on the same day. No idea now how we did it, coz my memory is crap, and our solicitor this time round said it wasn't really possible in our circumstances ( ) and that he would much rather exchange and complete separately???

5 days to draw down the monies from the lender is about average I think, but my uncle, who arranged the mortgage for us, says he knows ways of getting the monies within 48 hours (though in these circumstances he can't, due to something the solicitor has done on our behalf)

kingkano

bizarre indeed. I wouldnt want to do same day to be fair. But I thought a week was ample. for them to suck their breath and say might be a bit tight, or even no chance because lender needs 7 days to check down the sofa for the money, just seems too odd for me!

michjoe

My OH spoke to solicitor this afternoon (yes they actually rang him back) they told him that the buyers solicitor was waiting for some funds to be transferred into his account on Monday from the buyer and then it would be up to Wednesday we exchange with a view to completion on the 29th July. Feel a little better having some dates now.:rolleyes:

samminich

Good luck to all those with dates for exchange. We are still waiting to hear from our sellers solicitor. Our sol has asked our seller if he can complete the sale, move out and then complete his purchase at a later date. Don't know if thats a standard question at all, but they have asked anyway. So back to just waiting again. I have two and a half weeks to let my kids present school know if they will be back after the summer or not (would be lovely to know just that).

Hope exchanges go well for those nearly there and to the rest all we can do is keep waiting.

angel_eyes_3

I think we're going to be the ones who don't manage to finish the race. I'm back to being stressed!

We've had the structural survey back. To our untrained eyes it looks ok. There is work to be done and problems to be sorted, but it's doable. The report has been to orginial surveyor in order for him to value it and it has now gone to the mortgage company. However when I spoke to them this evening it's missing a statement from orginial surveyor so we're now back to waiting.

Spoke to our FTB last night. They have to be out of their flat by the end of the month. I suppose in theory it might be possible to exchange and complete within 3 weeks?

brock-cruse

Flippin nightmare just getting to exchnage here!
Now been told that it will be 5-10 working days until my buyers remortgage monies are available. Buyers sol will not exchange without them and the 10 days takes us to 19 july our intended moving date....aaarrgghh! The bank has been ok so far but dont want to push it too much. Now thinking of trying to get exchange and completion on same day. Surely this means nothing needs doing from us just that sols have to make sure its ok for then?
I just hate all this waiting around and the weeks just seem to be flying. Got call from DD school asking if we need a place for her next year or not..i said i could only tell them this once we had exchanged! No way am i saying no just in case. Dad has told me that i should start packing as things may get tight and it now looks like we will have very little chance of getting into repo house before we move to gut and clean. Have to arrange for kids to be away a few days as its unhygenic and wouldnt want them there in the state it is in! So much of a rush when theres nothing happening...if yousee what i mean!

kingkano

It is annoying isnt it? I cant get to talk to my solicitors at the moment. My actual solicitor is on holiday the last 2 weeks.... sigh. Apparently all my stuff has come back, and the seller thinks we are exchanging today. I've returned all our signed deeds and contracts etc. The buyer is ready to go and chomping at the bit.... but my solicitor isnt returning my calls!!

So I'm waiting in limbo thinking MAYBE we are exchanging today (and completing next friday) IF I can get my solicitor to answer the phone lol. They seem to like writing letters alot (my file was being dictated at the timeso nobody else can read it apparently). But surely at exchange time they can just use the flippin' phone a bit!!

Will report back later. Fingers crossed!