The NEW waiting to exchange thread...

JS21

Caz_Mnaz said:

Dont worry @JS21 it doesn't always go belly up!!

Thanks @Caz_Mnaz I hope not!

amandacat

JS21 said:

I think i made a mistake reading job this thread..it's making me nervous that something terrible will definitely happen. Our timeline to date is below (FTB);

House viewings: 13th & 16th March

18th March: 1st Offer

20th March: offer rejected

22nd March: 2nd offer

24th March: Offer rejected

27th March: 3rd offer

31st March: Offer rejected

3rd April: Final offer

13th April: Offer accepted

14th April: Instructed conveyancer and confirmed acceptance with mortgage broker

17th April: Memo of sale received

17th April: Paid conveyancer deposit and search fees, obtained surveyor quotes:

19th April: Broker submitted mortgage application

21st April: Lender confirmed valuation survey

28th April: Lender valuation took place

29th April: Mortgage offer for full value received!

30th April: Draft contract pack received from vendors

30th April: Instructed searches and first search returned

4th May: Mortgage offer received, report raised, contract pack report raised and enquiries submitted

5th May: Surveyor confirmed homebuyers report survey to take place on 27.05.21 (!)

5th May: Further searches returned, contract, TR1 form, deeds, stamp duty forms received

10th May: Signed contract, TR1 form, mortgage deeds, stamp duty forms signed and sent recorded delivery

INBETWEEN: WAITING FOR VENDORS TO REPLY TO ENQUIRIES?

Homebuyer survey takes place: 27th May  

Homebuyers report received - if all good, move to exchange?

Your solicitor sounds very on the ball. Memo of sale for ours was mid Feb and we’ve only received the contract paperwork and other forms to sign last week. 

Sounds like you’re close, once all enquiries are satisfied then you’ll be ready to go assuming there’s no chain. 

I’m at a similar stage, just posted off all signed forms. Majority of enquiries satisfied for us but just the last 2 or 3 hanging about that need answering. Enquiries were sent to sellers solicitor 4th March so I really thought they’d be sorted by now but apparently my solicitor has raised an additional couple on top following the search results.
I sold a house at the start of the year and it was done and dusted in 8 weeks with no drama so things can go to plan and the solicitor who dealt with that sale followed a very similar pattern to yours and was ‘on it’...if only she hadn’t taken 6 months leave or I’d have used her again instead of the slow one I’m using now. 
Good luck, keep us posted on your progress. 

Lewist123

New to the forum, but enjoying looking at all of your timelines etc! We are FTB and had an offer accepted on a house last week (for asking price). We couldn't get a viewing slot (house is currently tenanted and they had 2 hours per week to show people), but we knew when the viewings were happening so just went up there and sweet talked our way in as we love the house and area. Looking forward to updating our timeline as we progress!

27/04/21 - Viewed the house and put offer in for asking straight away (2 identical have gone for same price in the past 4 years).

28/04/21 - they had 2 other asking offers and 1 slightly over, but we were FTB and flexible on timelines as property is tenanted until 6th September... Offer Accepted!
29/04/21 - solicitor instructed and broker given all documents to apply for mortgage once we have MOS

05/05/21 - chased EA as no MOS yet, will be with us in next 3 working days, the sales progression team have massive backlog of properties

Seems that our position as FTB helped us clinch the property, now we are just hoping we won't be gazumped in the early days as there was a lot of interest and the price doesn't seem to be over market value. My GF works in conveyancing thankfully so we know approx how long things should take - I have no idea how anyone knows what to do without that knowledge it's all completely new to me and I've had so many questions for her, it must be such a daunting process!

goodwithsaving

5th time doing this process....I am already a wreck.

I have accepted an offer on my property and had an offer accepted on my onward purchase. I'm waiting for my vendor to find something now, but they have viewings on places next week.

The sums are very tight and I am borrowing the most I can, and throwing in all savings, so I'm just crossing my fingers that my buyers valuation is okay, and mine on the onward purchase is okay.

The purchase is exactly the house I wanted, in the location I wanted and will be somewhere I never need move again. Although I am borrowing the most I can, the LTV is around the 50% mark.

Really, really nervous

BountyBlink

JS21 said:

I think i made a mistake reading this thread..it's making me nervous that something terrible will definitely happen. Our timeline to date is below (FTB);

House viewings: 13th & 16th March

18th March: 1st Offer

20th March: offer rejected

22nd March: 2nd offer

24th March: Offer rejected

27th March: 3rd offer

31st March: Offer rejected

3rd April: Final offer

13th April: Offer accepted

14th April: Instructed conveyancer and confirmed acceptance with mortgage broker

17th April: Memo of sale received

17th April: Paid conveyancer deposit and search fees, obtained surveyor quotes:

19th April: Broker submitted mortgage application

21st April: Lender confirmed valuation survey

28th April: Lender valuation took place

29th April: Mortgage offer for full value received!

30th April: Draft contract pack received from vendors

30th April: Instructed searches and first search returned

4th May: Mortgage offer received, report raised, contract pack report raised and enquiries submitted

5th May: Surveyor confirmed homebuyers report survey to take place on 27.05.21 (!)

5th May: Further searches returned, contract, TR1 form, deeds, stamp duty forms received

10th May: Signed contract, TR1 form, mortgage deeds, stamp duty forms signed and sent recorded delivery

INBETWEEN: WAITING FOR VENDORS TO REPLY TO ENQUIRIES?

Homebuyer survey takes place: 27th May  

Homebuyers report received - if all good, move to exchange?

Most of the time things go smoothly, so don’t worry too much. People like me come on these forums because things are going wrong, the people that are in chains and it’s all ok are probably too busy drinking cocktails in their back garden! 🤣🤣

You will be ok, looks like you have all your ducks in a row, so it’s just waiting for everyone in your house chain to be ready and then time to grab those keys! All the best! 

NAC2809

I’m in a chain of 3 (I’m at the bottom). The top of the chain needs to provide one more form and we’re good to go.
It’s a deed of covenant (I think, I’m sure that’s what the estate agent said) regarding maintenance fees on a new build estate. Apparently the maintenance company on the new build estate was bought out/recently changed so the EA couldn’t indicate how easy it would be to obtain. 

Just wondered what those in the know might think about how easy they are to obtain? 

The entire chain was hoping to complete this coming Friday but we’ve not exchanged yet. So I’m painfully low on optimism.  

BountyBlink

NAC2809 said:

I’m in a chain of 3 (I’m at the bottom). The top of the chain needs to provide one more form and we’re good to go.
It’s a deed of covenant (I think, I’m sure that’s what the estate agent said) regarding maintenance fees on a new build estate. Apparently the maintenance company on the new build estate was bought out/recently changed so the EA couldn’t indicate how easy it would be to obtain. 

Just wondered what those in the know might think about how easy they are to obtain? 

The entire chain was hoping to complete this coming Friday but we’ve not exchanged yet. So I’m painfully low on optimism.  

It’s just a form for the maintenance company to ask the the new owner to sign agreeing to the maintenance fees. My last sale the FTB at bottom had to obtain and sign one for my buyers property. So long as the maintenance charges are not extortionate then it’s a simple sign and return. You won’t be waiting long, our buyers maintenance company sent it out in a day and it was turned around same day. 

Just keep pestering your agents, for updates. 

BountyBlink

Update from me, fairly relaxed here which given the last 6 months of being on this forum that’s saying something 🤷🏻‍♀️🤣
had a text from our vendors yesterday, draft contracts received and they have ordered searches. Their vendor and top of chain, also in same position.
Thankfully they both have moved as much as me 🤣 so know the ropes and not worried about chasing agents/solicitors and being a pain in the back side! 

Our mortgage offer expires 5 weeks today... let’s see if they can do this... if not we re apply for a new mortgage application, should be pain free (famous last words lol)! 

Louise.H

Hope things progressing well for everyone.

After the last house I was trying to buy had a very confused vendor who changed their mind three times in a week (!!!) I am hoping this one will be easier, its empty which is a good start. 
May 8th - viewed house, put in offer which was accepted.
May 10th - survey and solicitors will be re-instructed as on hold from last house fiasco.

harsxx

Hi sorry to interrupt.  Thought I would ask if anyone knows. We are currently in the process of buying a house and the solicitor has said there is no gas and electric certificates and we need to get these checked before exchange of contracts also we need to get a asbestos report done before exchange of contracts.  If we was to opt out for these reports would our mortgage offer be affected? Do we have to have these done? We are ftb and not to sure how everything works . Just seem to be paying for report after report and would rather have these done when I have the keys in my hand then I know what's what. Just dont know what to say to the solicitor as to why I'm not having them done . Thanks if anyone can help.