The NEW waiting to exchange thread...

amandacat

Good luck everyone today, I really hope you get some positive news/movement today.

FTB_Help

Natbag said:

Well I've had 4 hours sleep after receiving a message online from my vendor late last night. He was stressed as they need to complete urgently, they've been ready for weeks and and they've been kept in the dark by their solicitor (same!), all they know is there is an issue. I don't know much more than he does, noone will tell me anything either, so my efforts to reassure him were pretty poor. Just tried to be super nice and told him we should be close now, the delay is due to an outstanding enquiry elsewhere in the chain but that I'll do whatever I can to push things and keep him updated. I'm trying to keep two buyers and a vendor happy, and it's impossible for this length of time
Tried calling my solicitor at 9am this morning to give her what for, to be told she isn't in the office yet, but will call me back 'later'. 
FML. I'm done.

Oh dear, keep calling, also are you close enough to your solicitors office to unexpectedly pop in to chat???!

Just keep swimming, it will all be a distance memory soon once you're in your new place 🙏

Im so thankful my solicitor has been a God send during this past 7 months.

If anyone wants recommended solicitor in London/ Peterborough drop me a DM, happy to recommend mine

bigkenny1975

When you read some of the stories in this thread it really highlights that this whole process is overdue reform. Some of it would be easy:

1. Have conveyancers use a platform that stores all communications and clearly states the stage of the transaction and what the next step is.
2. Introduce a single independent survey that lenders accept. Thisnl should include searches etc. Make this the seller's responsibility
3. Have bids submitted by a solicitor or conveyancer based on the report. These can not be changed later and once accepted this should lead to early exchange but subject to conditions in the bid - such as a condition that completion must be in X weeks etc

I realise this is basically the best bits of the Scottish system but having bought and sold there in the past it was a whole lot easier and stress free (and my purchase here is going well). I would get rid of the sealed bids and offers over system though.

(Can you tell I am just sitting around waiting for a call asking me to authorise exchange? I hate waiting)

lozenlady

We have had our completion statement through today in preparation for completion on Monday and it's around £600 more than I expected. Everything is broken down and the additional cost is all associated with the flat being leasehold e.g. changing share certificates. 

As a FTB I naively assumed that the Solicitors costs would have included contingency for these. Given its only a small amount in the grand scheme of things, however when budgeting pennies closely I just wish we had been given a heads up, will have to save up a bit longer for all the non-essentail furnishings I want!! 

Nile_E_Coyote

finally into a possession where there is no outstanding matters and we can arrange completion.

Solicitor told us they'd take 'urgent instructions' from the sellers solicitors. What does that actually involve?  We have heard nothing since that 3 days ago. Will they come back with a date etc or what?

Mortgage offer expires in 2 weeks so want to get a shift on

Natbag

I'm going to drop out of here for a while guys. Spoke to my solicitor this morning and it's not good news. Our purchase is hanging by a thread because this outstanding enquiry on my ex's purchase is actually a major issue that it may not be possible to resolve (or certainly not easily or quickly) and his sale may fall through. If that happens, my ex won't move out and allow our sale to complete and won't try to buy another property, so my purchase can't go ahead and I would need to start a lengthy legal battle to force him to sell.
So it's really not looking good and I'm just too devastated and exhausted and miserable to be here for now while I wait for updates/the worst to happen. Hope you understand.

Agree that the whole process needs reform, and also these estate management companies (which is where the issue lies) need some regulating too - it's such a petty thing they won't budge on, they are literally making this and every other house on that estate unsalable as no lender will touch it in it's current state.

FTB_Help

@natbag oh no.

Totally understand, i too dropped off this thread a few months back when i hit a deadend.

Take some time to gather your thoughts and options.

Have a rethink on plan b, c, d and e and keep in touch with everyone in the chain, it might pull through at some point.

Best of luck

amandacat

Aw sorry to hear that Natbag. You invest so much time, energy and emotion into this process so to get to this outcome is awful. I really hope things work out for you 

Natbag

Thanks both. There is no plan B really, our hands are totally tied, there is no other way of purchasing our house without those funds and he will not move out without a house of his own to move into. So unless our solicitor can perform a miracle the whole chain collapses. It won't be just us that suffer, but two sets of buyers and two sets of sellers will all have to start again as well.
Yes, so much time, energy, emotion and cost - we've already spent so much on mortgage advisors, mortgage fees and surveys, solicitor and legal fees, etc, not to mention my storage unit fees which will be doubling as of next month.
It's going to be a very long wait for news now.

birdmadgirl8

@natbag I really am so sorry to hear this. Completely understand why you need to pull away from the forum. Your advice and support has been much appreciated though and we'll be rooting for you. I really hope it works out for you in the end.