The NEW waiting to exchange thread...

trance_abbey

amandacat said:

No news from solicitor today again. They would’ve received my signed forms by now. 

Just want to start talking dates- no idea what is going on, don’t even know if last couple of enquiries are answered.
I’m beyond fed up, I hate my job and feel close to a breakdown between that and this house buying stress and can’t look for another job until completion, which is making this process so much worse. 

That sounds really tough - hopefully things start progressing soon and you can switch jobs.  It's awful feeling so in limbo and with your destiny out of your hands... Is it possible for you to have a chat to someone to brush up tyour resume or do some interview skills training or something so you can feel like you're making a firm exit plan?

phoebass

I'm hoping someone will be able to calm my nerves...offer accepted on our house in November 2020. Our sale is the bottom of the chain, we are purchasing a new build. We were supposed to exchange on Friday..didn't happen, then Monday, didn't happen and now today....exchange didn't happen. Has been the story of our buyers solicitor.

Apparently the mortgage companies have our title certificates (both my buyer and myself) and are good to release funds on Thursday ready for completion on Friday 14th. Completion date was set on Friday 7th for Friday 14th May. We've got days off work and packed up our house. Do you think completion is more likely to happen than not? Given that the mortgage companies have title certificates? My solicitor won't give a straight answer

amyr

phoebass said:

I'm hoping someone will be able to calm my nerves...offer accepted on our house in November 2020. Our sale is the bottom of the chain, we are purchasing a new build. We were supposed to exchange on Friday..didn't happen, then Monday, didn't happen and now today....exchange didn't happen. Has been the story of our buyers solicitor.

Apparently the mortgage companies have our title certificates (both my buyer and myself) and are good to release funds on Thursday ready for completion on Friday 14th. Completion date was set on Friday 7th for Friday 14th May. We've got days off work and packed up our house. Do you think completion is more likely to happen than not? Given that the mortgage companies have title certificates? My solicitor won't give a straight answer

We all have so much sympathy with you. Most of us here have had situations not dissimilar to yours.

Ultimately, only your buyer knows. If you can't get a straight answer ask your EA to speak to them direct.

jenni_fer

And so the fun begins!

We're apparently close to being ready to exchange but need to agree a date. Our buyers are pushing for a soon and our sellers are stuck on end of July. We'd like to benefit from the LTT holiday and the EA led us to believe that was going to be possible at the point we had our offer accepted (back in Feb) but now they seem to have forgotten that (the house they are buying is still being built so I'd guess that as they can't benefit the incentive to move pre has gone).

We're currently taking the stance of staying out out it and that if our buyer and seller can agree we'll go along with whatever they decide. Should we be doing more?

Time to sort out insurances (our mortgage broker did this previously but this one doesn't seem to have offered?!), pack a few boxes and try and be patient!

Timeline so far:
13th Jan - Current house on the market
30th Jan - Viewing morning, 8 viewers
2nd Feb - Offer accepted (cash buyer, currently renting), Solicitors engaged
23rd Feb - 1st (only) viewing on new house (sellers claim to be going into rented....we'll see!)
23rd Feb - 1st offer made
24th Feb - Offer rejected, 2nd offer made, accepted verbally
5th Mar - Memorandum of Sale
9th Mar - Survey completed on current property
10th Mar - Mortgage Application submitted
19th Mar - Mortgage Application approved
30th Mar - Buyers requested reduction due to under-valuation, declined
1st Apr - Buyers requested £5k reduction due to 'works' required, declined, offered £2k GOGW
6th April - New Memorandum of Sale confirming £2k reduction
6th April - Survey on purchase
12th April - Survey received
15th April - Draft contracts received from seller, searches started
10th May - EPC finally received

mat1964

So the EA gave the buyers of my GF's house and their brokers one last chance today to provide an update on their very overdue mortgage offer - and neither bothered to reply.  So we have wasted 2 months on buyers who have been dragging their heels right from the start.  I wish we had pulled the plug earlier.  For the life of me, I don't get what their motive has been in all of this.  Very depressing.  My mortgage application to cover the difference is now in and we will see how that goes.  

flyingv

Hi everyone, hope everyone is holding it together okay and glad to finally hear some good news for @Natbag - yay, so happy for you!! 

Latest from me is I emailed my solicitor yesterday to ask what's going on and they replied today saying that on reviewing the file they notice that one of the answers from the LA is incomplete as they were waiting on a response from another team and that they would chase again.  Sigh.  They told me last week that these enquiries had been answered.  Anyway, the contract has been agreed so she attached it for my signature in readiness for exchange.  Yay I thought.  Until I read it.  There are 3 mistakes on it, one on my name and two on the property address.  How hard is it to get these things right?  Don't they sense check these things before sending?  If I sent documents like that to my bosses clients I'd get a right earfull! 

I've had enough today, I'm going to bed.

youth_leader

My friend has just found out from a neighbour her buyer has put a deposit on a new house - she hasn't told her she's pulled out.   My friend has found somewhere, but her elderly seller hasn't.  The buyer has been waiting four weeks on Friday.  Is there anything I can do to help my friend, apart from being encouraging?

gagahouse

My buyer's solicitor contacted mine today to ask to exchange today, 2 days earlier than previously agreed.
I agreed but did wonder what prompted them to make this request when we had agreed and were ready to exchange only 2 days away?
Anyway am happier and relieved now that a year after putting it on the market it will be finally be sold at a decent price albeit 10-15K less than the max I could get in the current market. I agreed the price with them 3 months ago and decided I wasn't going to mess anyone around given the experience I had with previous 'buyers' messing me around.

youth_leader

@gagahouse perhaps last week's bank holiday has caused a log jam?  Glad you have exchanged, wishing you good weather for completion.

Caz_Mnaz

youth_leader said:

My friend has just found out from a neighbour her buyer has put a deposit on a new house - she hasn't told her she's pulled out.   My friend has found somewhere, but her elderly seller hasn't.  The buyer has been waiting four weeks on Friday.  Is there anything I can do to help my friend, apart from being encouraging?

I found out my sale had collapsed when I was told by a friend my buyer's house was back on rightmove 🤦‍♀️best she speaks to EAs etc to find out what's going on and re-list quickly!