The NEW waiting to exchange thread...

Caz_Mnaz

gagahouse said:

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.

Haha same I accepted an offer in Nov and know I could get more now but my seller also hasn't pushed their price up even though where I'm buying prices have gone bonkers..... So I think it all works out like you I don't want to start messing people around! (we went on the market in Aug)

Caz_Mnaz

I woke up with a gut feeling we were going to get a date agreed today.... Let's see how long that lasts! Its been 2 weeks since all parties confirmed ready to exchange before radio silence from the one crap solicitor in the chain. Fingers crossed no-one is getting cold feel.... It collapsed at this point last time! 

FtbEmz

Hello, me again. Our survey was Monday and the surveyor said 2/3 day turnaround for this so hoping it’ll be back soon. I’d like to call the solicitor for an update and think I will tomorrow - I can hopefully also provide them with the survey too. Just wondering if my timeframe is reasonable as my husband and I would like to complete in the first two weeks of June. Our solicitors have all they need from us in terms of mortgage offer, ID, signed terms of business etc. They have the draft contracts and forms and our solicitor has been going through these this week to prepare the report on title. Searches are expected back in the next 7-10 days. We have no chain and the property we’re buying is empty and was advertised as ‘immediate vacant possession’ as it was someone’s parents who sadly passed away (probate all dealt with). Is the first two weeks of June reasonable for completion? The only enquiry we have is who supplies the gas/electricity and the solicitor said she doesn’t expect any issues on the searches (she’s dealt with the majority of other sales on the same street as our  purchase - one of the reasons we chose her). Thanks and good luck to everyone today. 

laura_lau

Caz_Mnaz said:

I woke up with a gut feeling we were going to get a date agreed today.... Let's see how long that lasts! Its been 2 weeks since all parties confirmed ready to exchange before radio silence from the one crap solicitor in the chain. Fingers crossed no-one is getting cold feel.... It collapsed at this point last time! 

Good luck! I hope your gut feeling is right! I'd like to say I have a gut feeling I will receive the contract to sign today (my solicitor on Friday said they would be sending it out "shortly", whatever that means) but I don't really feel it today. I'm quite certain I will have to contact the solicitor again today to ask for an update!

BountyBlink

FtbEmz said:

Hello, me again. Our survey was Monday and the surveyor said 2/3 day turnaround for this so hoping it’ll be back soon. I’d like to call the solicitor for an update and think I will tomorrow - I can hopefully also provide them with the survey too. Just wondering if my timeframe is reasonable as my husband and I would like to complete in the first two weeks of June. Our solicitors have all they need from us in terms of mortgage offer, ID, signed terms of business etc. They have the draft contracts and forms and our solicitor has been going through these this week to prepare the report on title. Searches are expected back in the next 7-10 days. We have no chain and the property we’re buying is empty and was advertised as ‘immediate vacant possession’ as it was someone’s parents who sadly passed away (probate all dealt with). Is the first two weeks of June reasonable for completion? The only enquiry we have is who supplies the gas/electricity and the solicitor said she doesn’t expect any issues on the searches (she’s dealt with the majority of other sales on the same street as our  purchase - one of the reasons we chose her). Thanks and good luck to everyone today. 

Hi! Yes absolutely possible. My previous-previous sale we completed in 6 weeks from offer to completion. I’m in a similar situation again (as you are) though we have an extra property in the mix (vendors - vendors buying a probate sale - so 3 properties) however, draft contracts received, searches were ordered last week our area has 1-2 day turnaround on searches, and they have survey booked 28 May. Our mortgage offer expires 13 June, so we know chain above are going full steam ahead to get this done. 

In any other given non COVID time 4-6 weeks with a small chain, motivated vendors and only freehold properties is absolutely doable! Sometimes I wonder why so many friends say they are waiting weeks and weeks even with complete chains. At the end of the day if all parties are motivated to get it done, Quick yo reply on matters, pester their respective lawyers and agents then yes it’s doable and even with COVID so long as your solicitor have been chosen wisely then yes you will do this! Just keep pushing and as I always say with buying/selling (done this 14 times now 🙄) “make every day count” 
things to get your ducks in a row: 

1. check how long your mortgage lender needs for drawdown of funds. Anything between 1-7 working days is the norm. (If more than a few days ask your solicitor to drawdown funds nearer the time) 

2. make sure your deposit is sent in readiness to your solicitor. 

3. Ensure contracts are signed and being held with your solicitor. 

BountyBlink

FtbEmz said:

Hello, me again. Our survey was Monday and the surveyor said 2/3 day turnaround for this so hoping it’ll be back soon. I’d like to call the solicitor for an update and think I will tomorrow - I can hopefully also provide them with the survey too. Just wondering if my timeframe is reasonable as my husband and I would like to complete in the first two weeks of June. Our solicitors have all they need from us in terms of mortgage offer, ID, signed terms of business etc. They have the draft contracts and forms and our solicitor has been going through these this week to prepare the report on title. Searches are expected back in the next 7-10 days. We have no chain and the property we’re buying is empty and was advertised as ‘immediate vacant possession’ as it was someone’s parents who sadly passed away (probate all dealt with). Is the first two weeks of June reasonable for completion? The only enquiry we have is who supplies the gas/electricity and the solicitor said she doesn’t expect any issues on the searches (she’s dealt with the majority of other sales on the same street as our  purchase - one of the reasons we chose her). Thanks and good luck to everyone today. 

Also, should add. Once your solicitor receives searches back, they will “report” to you. This is the full pack including searches they send to you, with normally a letter pointing you to parts of the searches and any enquiries back they want you to ensure you are happy with. They will also include contracts for you to sign, so long as you have no more questions. Sometimes in the past I have had solicitors take more than a week to “report” to me, but 9/10 my usual solicitor reports to me the day my searches get back (only because they know what I am like 🤣) so, when your searches are due back get onto your lawyer and ask when they will be reporting to you. Hope that helps 

CLJ2986

My searches were all back on 25 April according to tracking portal, it took a phone call yesterday to check what was going on and I had the search pack delivered to my inbox an hour later! Any idea when I'll get a contract to sign as that wasn't included, but they did say enquiries from the seller were Still outstanding...

BountyBlink

CLJ2986 said:

My searches were all back on 25 April according to tracking portal, it took a phone call yesterday to check what was going on and I had the search pack delivered to my inbox an hour later! Any idea when I'll get a contract to sign as that wasn't included, but they did say enquiries from the seller were Still outstanding...

Email your solicitor to ask the following:

1. searches are back, but you have not reported to me on findings & no contract & mortgage deed to sign - please can you send ASAP and advise when I will receive? 

2. Please confirm what enquires are o/s 

(send that and copy in your selling & purchase agents) 
then give it to Friday and if no reply, forward the email and request an urgent update reply. 

BountyBlink

CLJ2986 said:

My searches were all back on 25 April according to tracking portal, it took a phone call yesterday to check what was going on and I had the search pack delivered to my inbox an hour later! Any idea when I'll get a contract to sign as that wasn't included, but they did say enquiries from the seller were Still outstanding...

Also should say, some solicitors May wait until all enquiries are back to “report” to you & include contract, deed, title etc. Especially online Conveyancing solicitors. Though if you have a “local high street solicitor” they are more likely to Report to you after searches received and send the contract pack for signature, and like my solicitors will just tie up the loose ends on enquiries after. So it just depends how your solicitors work, but still, you need to know what the enquires are. When you know, you can forward that to your vendors agent and ask them to chase it down. 

Natbag

Thank you for all the kind words everyone. Starting to get excited, but also trying hard not to just yet as we all know from reading this thread it can all go wrong right up to the point of exchange and I don't think we will be actually exchanging for another week or so yet. Waiting patiently now for news on an agreed completion date from both buyers and our vendor - fingers crossed we get it soon!