The NEW waiting to exchange thread...

amandacat

Tiglet2 said:

amandacat said:

I'm currently working through all the paperwork I have been sent to sign-- contract, transfer document, stamp duty document, mortgage declaration document, a document on whether we want to be tenants in common etc, title plan to sign and also getting savings account statement as requested to show deposit balance in account (seems a bit late in the day to be asking for proof of deposit but heho!). I have also been asked to obtain buildings insurance and provide the details and they have given me their bank account details to pay the deposit but the letter is confusing as in one place it says to transfer the deposit and in another part of the letter it says to wait until a completion date is agreed.

My last update was that enquiries were outstanding and this might take another fortnight but then I received all this the other day with no mention of the outstanding enquiries.

Is it likely that my solicitor would have sent me all this paperwork to sign in readiness for when final enquiries are received or does this mean final enquiries must have been received and we will be ready to go once paperwork is signed? Sorry probably a hard question to answer but I can't get hold of my solicitor currently as they are on annual leave and noone else in the office can answer and I have been told to call back next week when the solicitor is back...

You have received the "Report" from your solicitor.  This is indicative that you are nearly there, but solicitors often do send out the report and associated papers before all the enquiries are back. Usually most of the enquiries have been answered, it's just a few outstanding ones remaining.  The solicitor does this so that they can get their files ready, i.e. they would like you to send back your signed forms - Contract, TR1, Mortgage Deed, SDLT form, Signed Title Plan, and confirmation of how you would like to own the property (Joint Tenants/Tenants in Common).  They are hoping that by the time you have read and understood the Report and returned the signed documents, that the remaining enquiries will have been answered.  Then you/they will be ready to proceed.

The solicitor will need your authority to exchange (on the day) but they will not be able to exchange unless they have your deposit monies in their Client Account, so make sure you send this to them once they confirm that all enquiries are answered, a completion date has been agreed by all parties and they are looking to exchange.  I am not sure how long your chain is, but of course everyone involved in your chain will also need to be ready.  You will need to have a quote agreed for buildings insurance in readiness for exchange.  Once the solicitor confirms that exchange has taken place and the completion date set, you will need to confirm that you have put the buildings insurance in place.

Hope this helps.  Good luck!

Thanks Tiglet and Natbag. No chain, just myself and the seller. 
I've previously received a report on the searches and a report on answers to enquiries and some documents e.g. installation certs but the letter said 2 enquiries were yet to be answered.
It has been 11 years since I bought a property and when I recently sold, it was much easier paperwork wise as you don't need to do as much! So buying feels all a bit strange at the moment as I can't remember what happened last time when I bought. 
I'll get this paperwork posted on my day off on Saturday and then hopefully will get some news next week when my solicitor is back. Thank you for the advice.

amyr- my solicitor has done the same and have only just asked me for proof of my deposit source/the savings account it is held in. I am nearly at the end so like you, really thought it would've been requested earlier in the process. Can you imagine how annoyed my seller would be if it transpired at this late stage that I didn't actually have a deposit! On a positive, I was asked to provide all of this to get my mortgage so you can take some comfort that as your buyer has a mortgage offer, they should have this evidence from that to provide.

amyr

@Natbag - It's been a nightmare. Enough to put us off ever going through it again!

...

Unbelievably our situation continues to worsen... The buyer has now been straight with us and said they are delaying the sale. They now don't want to move for up to six months (uuuurrrrggghhhhhhh!!!) due to personal issues. Estate Agent is asking us whether we'd let the buyer start taking tenants round to see if they can find someone rent it. We haven't even exchanged! 

48 hours ago we thought we'd be exchanging today. We're now at a point of having to renegotiate everything - offering to delay competition for two months, pay their rent, allow tenants to visit between exchange and completition - anything to keep things on track. 

I've got that real sinking feeling....

Natbag

Oh @amyr - what a nightmare! Why can't people just be straight from the start, or consider the effect on others before changing things.

laura0289

Hi again,  I have recieved the enquiries from my solicitor that he has sent to the vendors solicitors is it usual for people to take fitted items with them? Thanks any help appreciated 

Natbag

Woah, a miracle has happened. My ex has agreed to move out on June 4th, whether or not his purchase has completed by then, to allow our sale to complete and thus my purchase to complete, hopefully preventing my seller from pulling out as they have threatened. I never thought I would see the day.
Been trying to get hold of my solicitor so she can inform the other parties in the chain before the weekend, and arrange for us to exchange as soon as possible with a view to completing on June 4th. But will she pick up/return my calls/emails? Will she heck. 

caz_cardiff87

gave in and called soliitor - searches STILLLLLL not back. phoned around and found the ETA was the 19th May so less than two weeks to go! bit annoyed as the council website states 4 weeks but i'm glad to have a date now so will hold off hassling my solicitor till then.

Mazintim

Blimey where to even start, it's long and it just feels like too many damn cooks for what should be a simple buy!

Almost a whole month later and we're still waiting to hear back from the lenders (Natwest). There isn't any chain, and no other survey other than the drive-by survey provided by the lender, so it should be a really straightforward - Alas, it's not turned out that way so far.

We sent our additional documents off to our brokers last week (Friday morning) as we were aware of delays with upcoming bank holiday Monday, and she said we would hear back in 5 working days, so I'd sort of hoped for a response by (maybe) today/Monday. 

Anyway, on Wednesday she sent us another email saying thanks and she'd received the documents and sent them off. Brill. Now we have to wait another 5 day!  

amyr

Natbag said:

Woah, a miracle has happened. My ex has agreed to move out on June 4th, whether or not his purchase has completed by then, to allow our sale to complete and thus my purchase to complete, hopefully preventing my seller from pulling out as they have threatened. I never thought I would see the day.
Been trying to get hold of my solicitor so she can inform the other parties in the chain before the weekend, and arrange for us to exchange as soon as possible with a view to completing on June 4th. But will she pick up/return my calls/emails? Will she heck. 

Horray! That is brilliant news. Keeping my fingers crossed for you.

rakoczigabi

laura0289 said:

Hi again,  I have recieved the enquiries from my solicitor that he has sent to the vendors solicitors is it usual for people to take fitted items with them? Thanks any help appreciated 

It does happen the flat I’ve bought in 2017 had no kitchen. The seller took all away. But as long as it’s been stated on the fixtures and fittings form that’s correct. 

The house I’m buying now will have everything there. Seller doesn’t take the kitchen this time haha. 

FTB_Help

amyr said:

@Natbag - It's been a nightmare. Enough to put us off ever going through it again!

...

Unbelievably our situation continues to worsen... The buyer has now been straight with us and said they are delaying the sale. They now don't want to move for up to six months (uuuurrrrggghhhhhhh!!!) due to personal issues. Estate Agent is asking us whether we'd let the buyer start taking tenants round to see if they can find someone rent it. We haven't even exchanged! 

48 hours ago we thought we'd be exchanging today. We're now at a point of having to renegotiate everything - offering to delay competition for two months, pay their rent, allow tenants to visit between exchange and completition - anything to keep things on track. 

I've got that real sinking feeling....

Oh balls!

Can you sit tight for 6 months or is your onwards purchase dependent on the sale of this one?