The NEW waiting to exchange thread...

GoingOn30

Happy Monday all, hopefully another day closer to exchange for us all!
A weekly update from us in the South west, progress in bold

We still haven't had confirmation that our buyers solicitors have applied for searches or raised any enquiries yet, so I put in another call to our EA today to get them to chivvy the buyer along, as it sounds like our vendors are going to want to start talking exchange dates soon!

Selling

12th March - offer accepted 

18th - Buyers mortgage app submitted

22nd March - memorandum of sale issued

31st March - Buyers survey took place,

31st March - Our ID check at solicitors, conveyancing questionnaires completed 

9th April - Draft contract pack sent to buyers solicitor.

Buying

29th March - offer accepted

31st March - Memorandum of sale issued

1st April - Full mortgage application submitted

8th April - Desktop valuation complete at agreed sale price - mortgage now at underwriting stage
16th April - Draft contract received, searches applied for 

19th April - Full build survey done - no major problems identified 
20th April - Enquiries raised 
26th April - Emailed vendors EA to ask for few things identified on the survey to be rectified 

bigkenny1975

Just got this email:

Unfortunately, the Solicitor acting for your seller is not in the office today and has not left instructions for anyone to exchange Contracts with me.

Can you please email me in the morning to again provide your authority to exchange and I will call the seller’s Solicitors to exchange.

Please, don’t worry. It is quite common for exchange to be so late and can even take place on the same day as completion.

I am hard pressed to think of another industry where this would be deemed normal and acceptable.

In the words of The Littlest Hobo - Maybe Tomorrow

RHF2020

My exchange process is proving a bit ridiculous. Contract signed and deposit given to solicitor last Wednesday. Only 2 purchases in the chain (our vendor is buying an empty house), and we were led to believe everything was ready to go. Didn't exchange on Thursday. Chased on Friday, and was told they were confirming with the final seller in the chain and would confirm exchanging "shortly". I chased again today, and they haven't heard back from them.

I'm going to throw my toys out soon. Our agreed completion date is 5 May, we are currently renting with a tenancy due to expire 6 May. If the exchange doesn't happen this week we'll need to find the weekend viewing rentals and find somewhere else to live, which will probably mean pulling the plug on the purchase unless it can be short term. I think that threat should focus minds if it's still not confirmed by COB tomorrow.

BountyBlink

Oh I’m so sorry to learn about your dad. You must be heartbroken. You have had the worst ride with your chain and to now have the sadness that this diagnosis brings must be making you so very upset. Sending support to you and your family at this very hard time 

Caz_Mnaz

Thanks @BountyBlink. Must say it has taken all excitement from it, he was going to be my head gardener 😂 and now he will probably never even see the house. Quite hard to swallow. BUT the show must go one and the move means closer to mum and school friends

Here's hoping a positive week for everyone 

amandacat

Good luck everyone this week. We all need some good news. 

I’m trying to wait patiently after my last update last week to say they need the final 2 enquiries answering and then we can proceed to signing stuff and agreeing a completion dates. I’ll be honest that I feel totally fed up today, it’s the not knowing how long this last bit will take that’s getting me down. 

The frustrating thing is they’ve had since the start of March to answer the enquiries and I can’t believe nearly two months down the line there’s still a couple not answered. 

amyr

amyr said:

We've issued our solicitor and Estate Agent an ultimatum today - we need to complete before 13 May. We're away for the end of May, and if we don't complete before then, then we'll be looking at June. Our two-party chain is fully ready to go (just, the buyer is still abroad...) so we're theoretically all set.

After so much stress around our buyer being abroad for a month, it turns out they arrived home on 8th April but our Estate Agent and their Solicitor never reached out to them to ask. 

A massive ARGHHH but also immense relief. We could potentially exchange this week at the earliest and we've asked for completion before 13 May..... *crosses fingers*

AnnexeRegular

Searches are still not back. Leasehold pack still hasn't been sent to my solicitor from the vendor. Not hopeful anything will come back this week too. Survey was done last week and the window frames are completely rotten and need replacing. The flat is in a conservation area, so i'm going to get estimates done and hope the vendor knocks some money off!

lozenlady

We completed today and collected the keys this evening! A quick stop at the house before I spend the next week redecorating and the sellers left it clean and tidy with all lightbulbs in-situ 😊 thanks for giving me distractions and comfort throughout the process and good luck to everyone still waiting.

FtbEmz

lozenlady said:

We completed today and collected the keys this evening! A quick stop at the house before I spend the next week redecorating and the sellers left it clean and tidy with all lightbulbs in-situ 😊 thanks for giving me distractions and comfort throughout the process and good luck to everyone still waiting.

Congrats! That’s awesome news!