The NEW waiting to exchange thread...

laura_lau

Congratulations to those who have exchanged and/or completed today! As someone else said, seeing people who complete is the thing that keeps me going! I had an update from my solicitor yesterday saying that she sent me the contract to sign (I hoped to receive it today but the postman didn't leave anything for me..) and that she can't yet agree dates with the sellers because there are still 3 outstanding enquiries she made back in March which haven't been satisfied. I was so disappointed, I was under the impression that the enquiries were done and dusted and we could agree to exchange next week! I called the EA this morning so that she could also directly chase the seller's solicitor, but apparently she is off sick. Has any of you had any experiences of an outstanding enquiry about the LPE1 from the Landlord or Property management company? I have the feeling it is something that is out of hand of the seller, so it might take forever?

Natbag

n0438 said:

Aaaargh forgive me whilst I scream!
So chain of 7, 6 of us agree to exchange next week, complete the following.  Except the top.

They allegedly can't secure a rental until they exchange but won't exchange until they've found something.  But how do we know what's going to come onto the rental market, so we could be waiting forever. Potentially after end of June!

Surely if the majority agree then that trump's just one person wanting to do something else??? Can't they just go into an air b&b  whilst they look? 3 of us have mortgage offers running out imminently. I am so mad so forgive my rant.

Any words of wisdom that anyone can share? 🙂

Oh no, what a nightmare. Long chains are a pain. I'm technically in a chain of 6, and it's only by breaking away from the two where the complicated long enquiry is stuck that we are finally able to proceed to exchange. It must be difficult for them, but it is for everyone else as well I know. Hope you get some good news soon. 

Natbag

amyr said:

amyr said:

However, the solicitor is still not satisfied from a money laundering perspective. Our buyer has some of their deposit coming from family, and they need to provide more evidence to satisfy their solicitor before we can move forward. They obviously do have their mortgage offer, but I don't know enough to say whether that gives us any reassurance?

This is still causing us stress. EA is pushing them to provide the paperwork ASAP. 

Given the huge delays we've had with paperwork being returned, and our need to move before the end of May, we've had to start becoming more forceful. Doesn't come naturally to me, nor feel particularly comfortable! 

We've got a week away next week (delayed honeymoon: as well as a failed house sale, the last 12-months also saw us have two cancelled weddings before we finally eloped in December). It's going to be a mammoth effort to attempt to switch off, so I've been pre-drafting emails I can fire off as needed, chasing buyers / relisting the house / etc, with limited effort. All bases covered, so low is my faith in our buyer.

Try not to think about it too much and enjoy yourself. I'm sure it's being worked on in the background, and you can relax a little while you wait - it sounds like you definitely need it after this last year and not having the wedding and honeymoon you should have!

Natbag

laura_lau said:

Congratulations to those who have exchanged and/or completed today! As someone else said, seeing people who complete is the thing that keeps me going! I had an update from my solicitor yesterday saying that she sent me the contract to sign (I hoped to receive it today but the postman didn't leave anything for me..) and that she can't yet agree dates with the sellers because there are still 3 outstanding enquiries she made back in March which haven't been satisfied. I was so disappointed, I was under the impression that the enquiries were done and dusted and we could agree to exchange next week! I called the EA this morning so that she could also directly chase the seller's solicitor, but apparently she is off sick. Has any of you had any experiences of an outstanding enquiry about the LPE1 from the Landlord or Property management company? I have the feeling it is something that is out of hand of the seller, so it might take forever?

Me, I think, from a similar perspective that it was to do with another property lower in the chain. If it's a clause on the estate management fee contract that the lender doesn't like, or similar, it can be really complicated and long to resolve. In my chain, the lender refused to lend, even with an indemnity policy, so the company had to be convinced to sign a deed of variation, which then had to be signed by the developer, which then had to go to the Land Registry for amendment (that bit can be expedited for a fee), and then back to the lender for sign off. It has been ongoing for maybe 2-3 months already and we are only able to progress because the chain is being broken by that person and they are staying with family temporarily. As a third party, they won't give you much information I'm afraid due to data protection, not without that person's consent, but it could be a long and frustrating process. Sorry, that's probably not what you want to hear, but I would try speak to your solicitor about potential timescales for the issue to set expectations.

amandacat

Hi, not had time to read all the updates since last time as at work but just wanted to report in some good news!
Final enquiries answered, completion agreed for next Friday :-) 

Natbag

amandacat said:

Hi, not had time to read all the updates since last time as at work but just wanted to report in some good news!
Final enquiries answered, completion agreed for next Friday :-) 

YAY! Finally, I'm so pleased for you. Fingers crossed it all goes ahead smoothly for you now.  

Natbag

My update, just spoke to my solicitor - I called her desk phone and she answered, woah! - and she has said the vendor and 1 buyer have agreed to our completion date of 3rd June, we are just waiting on the 2nd buyer to agree, and hopefully we can exchange the end of next week. I really hope so, fingers crossed. Really hoping for that agreement to come back today so I can rest a little easier this weekend. I just want to get exchanged now, I'm trying so hard not to get excited until then, we are so close now so I'm a nervous wreck.

BountyBlink

amandacat said:

Hi, not had time to read all the updates since last time as at work but just wanted to report in some good news!
Final enquiries answered, completion agreed for next Friday :-) 

Woo hoo!!!!!! This is amazing news!!! 💪🏻💪🏻💪🏻

BountyBlink

Natbag said:

My update, just spoke to my solicitor - I called her desk phone and she answered, woah! - and she has said the vendor and 1 buyer have agreed to our completion date of 3rd June, we are just waiting on the 2nd buyer to agree, and hopefully we can exchange the end of next week. I really hope so, fingers crossed. Really hoping for that agreement to come back today so I can rest a little easier this weekend. I just want to get exchanged now, I'm trying so hard not to get excited until then, we are so close now so I'm a nervous wreck.

Yay!!! You deserve this after a truly rotten ride! 

amandacat

Natbag said:

My update, just spoke to my solicitor - I called her desk phone and she answered, woah! - and she has said the vendor and 1 buyer have agreed to our completion date of 3rd June, we are just waiting on the 2nd buyer to agree, and hopefully we can exchange the end of next week. I really hope so, fingers crossed. Really hoping for that agreement to come back today so I can rest a little easier this weekend. I just want to get exchanged now, I'm trying so hard not to get excited until then, we are so close now so I'm a nervous wreck.

Brilliant news-yippee!! We both need lots of luck for these final matters to close.