The NEW waiting to exchange thread...

Louise.H

Taking out insurance with the solicitors so can hopefully get survey costs etc refunded if they do it again before exchange. Apparently they got worked up by the idea of a surveyor going in - either something to hide or just very nervous. Agents deemed them a nightmare client so I may well need some hair dye when all this is over. 

Redwino222

Mortgage valuation still isn’t booked for my house and it’s three weeks since I accepted the offer.

my solicitor has sent all necessary paperwork to theirs, but no queries back yet.

i have mortgage offer in pace on my onward purchase, it only took a week, and am starting to get frustrated (And it’s only been three weeks).

Solicitor always answers my questions, but I have no real sense for how hints are progressing with my purchase. 

I know I am only in the foothills of a long journey, but I just don’t seem to have enough information.

FTB_Help

Louise.H said:

Taking out insurance with the solicitors so can hopefully get survey costs etc refunded if they do it again before exchange. Apparently they got worked up by the idea of a surveyor going in - either something to hide or just very nervous. Agents deemed them a nightmare client so I may well need some hair dye when all this is over. 

Oh dear! They do sound like they're going to be a pain.

Don't let them make you feel like you can't/ shouldn't get a survey, you need to know what you're buying is right.

Do they have somewhere to buy too, if so maybe wait until the chain is complete before getting a survey.

amandacat

Oh dear so most of our sagas continue, great to hear some people have exchanged/completed-gives hope for the rest of us. 
Still no news for me on the answers to these final enquiries being sorted-that's all that stands between agreeing dates.
I called the solicitor's assistant yesterday afternoon and asked if we can put pressure on the vendor's solicitor and propose a date now for completion so we have something to work towards. She said she would call me back today after speaking to my solicitor. No idea if this was a good move on my part but I am starting to despair that these outstanding enquiries will go on and on...it's not like they're even complex enquiries and meanwhile the house is sat empty waiting for me to move in!! I know the vendor is equally keen to get sold as they are paying the mortgage on an empty house and I don't want them thinking we are holding things up. 

With the queries about search turnaround times-mine took 28 working days. On the search flow website it says 65 working days in my area but on the search acumen website it says 28 working days so I think it depends what search provider your solicitor use.

Natbag

Everything is on a massive go-slow at the moment - I think it's a combination of people going on annual leave now the restrictions are lifting and the weather improving, and also the massive influx of house sales increasing everyone's workloads ten-fold thanks to the stamp duty freeze extension. It's so frustrating though.

@Livingincolour - don't even get me started on management companies! They have been the reason for the last 4 weeks of delays in my chain. Does their website give a timescale for replies? I would consider contacting them to ask progress, and consider making a complaint if they are beyond their own service level pledges.

Lemonyrose13

I wish I could help you all! Keeping my fingers crossed for everyone trying to exchange this week and for all of you who are hoping that your queries/prayers will be answered.

We've been told our local searches are due back 11th May and are trying to sort out getting a survey done now. We were waiting for the draft contract to come through before we booked this, I'm now wishing we'd just gone ahead with it before as I wasn't expecting it to take 8 weeks just for the draft contract!

Anyhow, the company we were hoping to use for the survey can't fit us in until the 27th May. Do we book them anywa in the assumption that we'll still be waiting for queries to be resolved by then or do we pick another company to do the survey? Its not going to change our minds about the price we're paying or whether or not we want to go ahead with the purchase, we've got the place for a really good price and are planning on doing a but if work to it anyway, we just want the survey so we can prioritise what work needs doing.

Our vendors are keen to move quickly and the reason for the delay in draft contract was due to them being misinformed about being able to scan in some paperwork and having to post the originals instead which all got held up due to Easter! 

What would you guys do?

Natbag

@Lemonyrose13 - do you need the survey in that case, or could you ask a builder/tradesperson to take a look? If you want a survey, it won't hurt to ask other firms if they could do a sooner date. The whole industry is so busy, everything is taking so long at every step of the way, so what you can do sooner I would definitely try to prevent knock-on delays later.

justwanttomove

Hello,

New poster here!

We are currently in the process of selling & buying. We are currently in a chain of 4 with FTB's below us. We are currently waiting for the 4th to find a new home out of the area which has taken them forever and they keep going back to the original new builds.

We had a call from EA today to say they still haven't decided but the NB they are leaning towards won't be built until December!! That is 8 months away!

We have mortgage offers that will run out, use and our buyers are ready to exchange and we have received draft contracts for the house we are buying, with searches underway.

As much as this house is perfect, I don't want to wait 8 months. Plus new builds always get delayed. Chances are they will ask use to exchange within 28 days like all new build but I am then not insuring a house until DEC that I don't live in.

Anyone else had any experience like this or advice?

Natbag

@justwanttomove - urgh, that's so annoying. I think you really have four choices:
a) you wait - although you run the risk that your buyer won't wait, and if they don't and pull out, how do you know when to look for another buyer? Aligning it all would be very difficult.
b) you allow your sale to go through and rent/live somewhere temporarily until your purchase completes
c) you ask the vendor to allow your purchase to go through and they rent/stay somewhere temporarily until their purchase completes
d) you find another property to buy

Natbag

@justwanttomove - meant to add, by December you will be liable for the full stamp duty - your buyers won't as FTB though. Something you need to consider, and maybe use to renegotiate on the purchase price if you are made to wait.