The NEW waiting to exchange thread...

Tiglet2

m4x1ne said:

Hi everyone, I've been lurking & am hoping it's not too premature to come join you? Congrats to everyone who's ending the week with way overdue good news & sorry to everyone who's had more faff, fingers crossed for next week.

My partner and I are FTBs hoping (like almost all FTBs I'd imagine) to complete by the end of June. We're in a 3 person chain - us at the bottom, vendors above are buying a chain-free but tenanted place. So basically we're all just going ahead with conveyancing and hoping that the tenants choose to leave by the end of June, or choose to leave at all. Not ideal. I'm absolutely terrible waiting patiently for news so this house-buying business doesn't suit me at all!

Big red flag unless the tenants have themselves served notice.

BountyBlink

mat1964 said:

GF's house back on the market, and 2 viewings arranged.  As a back up, my mortgage application is progressing - valuation next Wednesday.  My buyers are visiting 'with a friend' next week also and I believe they are good to go.

If GF gets an offer within the next week or so, developers have indicated they will give additional time to go with that, otherwise, we will have to exchange on the new build using the mortgage (if I get it) and my sale, and if she can sell by completion date (1/9), we won't need to use it.  If we do need to use the mortgage, we'll have early repayment charges and additional stamp duty to pay if the mortgage is repaid with her proceeds post completion, but was either that or start all over again.

Sounds like you have everything covered. Though you could always ask your GF solicitors to order searches on her property, just  so they are in and done ready for when you go under offer? Might speed things up especially if you get someone that is chain free, a cash buyer or someone that is ready to exchange on their sale but needs to find somewhere quick. I also assume your GF property is being marketed as “chain free”? Because that will entice the ones already in rented/people that are re looking due to a chain falling apart. 

Just a few suggestions there 😉

m4x1ne

Tiglet2 said:

m4x1ne said:

Hi everyone, I've been lurking & am hoping it's not too premature to come join you? Congrats to everyone who's ending the week with way overdue good news & sorry to everyone who's had more faff, fingers crossed for next week.

My partner and I are FTBs hoping (like almost all FTBs I'd imagine) to complete by the end of June. We're in a 3 person chain - us at the bottom, vendors above are buying a chain-free but tenanted place. So basically we're all just going ahead with conveyancing and hoping that the tenants choose to leave by the end of June, or choose to leave at all. Not ideal. I'm absolutely terrible waiting patiently for news so this house-buying business doesn't suit me at all!

Big red flag unless the tenants have themselves served notice.

thanks @trance_abbey & congrats @Sam2030!

@Tiglet, yeah I know, we're not happy about this at all. Afaik the tenants are looking for a rental to move into but haven't served noticed (though they got their S21 in Jan). We figured that pulling out means we definitely miss stamp duty holiday costing us £7.5k minimum... so we might as well try with this one and hope for the best. If the tenants are a little slow or reluctant to leave we'll try to push the LL to offer them a big financial incentive. 

flyingv

Here we are again, another Monday.  Wishing everyone lots of luck this week, here's to us all getting some good news

n0438

Good luck everyone, hope you get news if you are waiting or get the what feels like the elusive exchange this week ( including us)

I won't bore you with all the ins and outs but it was a massive hoo ha on Friday.  Lady at top wanted more time to look for rental but then it transpired she wouldn't move until July.  So everyone kicked off as for some stamp duty is a biggie so the next one's down are ditching her for a bit and moving out themselves to save the chain. 

So we're back on for exchange this week 🤞.

Natbag

@NAC2809 – oh no, that is frustrating. Hope it gets sorted soon. It’s usually the case that there is just no information given on timescales and then suddenly it just happens. Fingers crossed!

@goodwithsaving – sorry to hear that. Glad it was sooner rather than later though, and hope you find something else you love as much or more soon.

@Sam2030 – yay, congratulations! So pleased for you. All the best in your new home 😊

@mat1964 – fingers crossed for a fast buyer and sale, or that you can complete with the workaround. I’m sure you’ll get there one way or another, good luck.

@n0438 – glad you’re progressing at last, what a nightmare though. Fingers crossed for exchange asap for you!

Natbag

Spoke to my solicitor on Friday, and our vendor's solicitor and my buyer's solicitor have both agreed to completion on June 3rd. We are still waiting to hear from my boyfriend's buyers' solicitor - however, our estate agent has been in touch with them and got their consent, so hopefully once the official reply is in we can proceed to exchange. Really hoping it will be this week, or early next week at the latest - the sooner the better, then I can maybe finally get a bit excited at last. 

Caz_Mnaz

I'm done.

Calls from 2 agents in the chain on Thursday suggesting everyone has provisionally agreed exchange and complete next week. My solicitor today says he hasn't heard a thing about that and hasn't even heard from other solicitors that they're ready.

Excuse me while I go stand in the garden and scream. 

Natbag

Caz_Mnaz said:

I'm done.

Calls from 2 agents in the chain on Thursday suggesting everyone has provisionally agreed exchange and complete next week. My solicitor today says he hasn't heard a thing about that and hasn't even heard from other solicitors that they're ready.

Excuse me while I go stand in the garden and scream. 

Same as me. My boyfriend's buyers solicitor says they are waiting on instruction, but when the estate agent spoke to them their solicitor hadn't been in touch. Sigh!

lzzwzz

Enjoying reading this thread although the process is sounding painful for a lot of you
I was wondering when people would advise Homebuyer Survey guidance is acted upon? My surveyor has said that there are a few issues with the roof and chimney that should be looked at.
My chain is still not complete... do I ask a roofer to pop round to have a look and quote me for repairs now, or later?
I'm not really sure if I would be asking for a reduction on the purchase price. It may depend on the roofer quote!