The NEW waiting to exchange thread...

laura_lau

catclaires said:

@laura_lau I'm expecting to need an indemnity policy for some electrical work done on our bathroom a few years ago for which I've (most annoyingly) managed to mislay the electrical safety certificate. I tried to pre-empt this by mentioning it to my solicitor when we submitted the property info forms and asking if we should just get one immediately - she said to wait and see if the buyers' solicitor asked for one and that if we do need to purchase one, it won't hold anything up. Also, when we bought our current house, our solicitor made the vendors get one for the lack of FENSA certification for new windows, and as far as I could see from the toing and froing, it didn't delay things. I also had one for a leasehold ground rent issue when I sold a previous property. The impression I've been given from all three is that these policies are very standard and can just be purchased pretty much instantly - hope I'm right and that it's the same for the policy you need too!

@catclaires Thank you so much, that definitely helps my nervous self to calm down a bit! From what you say it seems pretty standard practice, so hopefully it shouldn't hold up things too much! I've asked for updates from my solicitor earlier today, still haven't heard anything. Good luck for your process, I am only buying with no chain and it's been taking excruciatingly long, and I'm super impatient now, so I can totally understand that the buying/selling at the same time might make you even more stressed! 

sassypurple

laura_lau said:

sassypurple said:

GioSan said:

We are also towards the end of the process (we that's what I think )) - The only hold up is the completion certificate on the extenstion done 21 years ago, the work was inspected throughout but no final inspection. Reaching out to council to arrange an inspection seems like a dream - they are not responding on any channel...I think we will wait for one more week and then agree a sale without it...dont want to loose out on the end of June date! I think need to make some compromise.

Could you get around this with a indemnity policy we had one on our sale as we couldn't provide any information on the kitchen extension on our house as it was done before we purchased it so the indemnity covered the lack of building regs paperwork and planning permission. Only cost about £120 and our solicitor sorted it out.

@sassypurple sorry I'm jumping in, as that's exactly the problem I have! I am buying, and it looks like one enquiry is pretty much holding up, as my solicitor is refusing even to consider talking dates until these enquiries are sorted! The previous owner opened a passage in the kitchen wall to living room, and the current owner doesn't know if they got planning permissions or even freeholder's permission, as she didn't ask when she purchased. My solicitor said they need to provide those, and if they don't, they must provide me with an indemnity policy to cover the absence of permission. I have no idea what this means for my purchase, as my solicitor is very cryptic. How long did it take for you to arrange that? Is it a quick thing to do? A matter of days? Weeks? Thank you!

As far as I'm aware simple and quick for the solicitor to do didn't take long for them to send us the details of ours and they took the cost off the proceeds at the end. 

Redwino222

Some good news today.  Buyers mortgage is through and estate agent is trying to agree a completion date!  A few things outstanding with solicitor but hopefully aiming for mid June.

solicitor very quiet and barely answers direct questions so while estate agent is trying his best, I have no idea if I will be clear to buy and sell by mid June.  Fingers crossed as it will save me a big stamp duty bill. 

C_N_

Redwino222 said:

Some good news today.  Buyers mortgage is through and estate agent is trying to agree a completion date!  A few things outstanding with solicitor but hopefully aiming for mid June.

solicitor very quiet and barely answers direct questions so while estate agent is trying his best, I have no idea if I will be clear to buy and sell by mid June.  Fingers crossed as it will save me a big stamp duty bill. 

Glad you finally got confirmation regarding the buyers mortgage! That's been dragging in for weeks! 

amyr

New week, no news! Our buyer still hasn't provided sufficient proof of funds to satisfy money laundering, but had promised this would be back today. We're chasing an update and stressing this has to be sent in and satisfactory by Thursday. 

It does feel we're edging closer, but we still have the fear that our buyer may not be able to satisfy their solicitor with proof of funds enough for us to move to exchange. 

Caz_Mnaz

I'm so close yet just wrecked with anxiety that the silence from the rest of the chain means someone's stalling.... Even if its just a case of them not picking the file up v often still freaking out they won't get things in place in time for exchange/completion next week. I'm just literally a ball of tense muscles at the moment! 

laura0289

Morning,  great to read everyone's updates. I answered our buyers enquiries within a day of my solicitor sending them to me to avoid delaying things, but I found out yesterday our buyers solicitor hasn't confirmed if she has received the answers from my solicitor even though he sent them over 3 weeks ago. She did say she had a lot of e mails to go through but 3 week back log seems madness. On the purchases now some discrepancies on the f &f form have been resolved just got to hope my solicitor satisfied with the enquiries he sent. Although I've been asking for over 6 weeks if he is satisfied with part of my deposit,  its inheritance money which I sent him the original will which has my name but not the amount and he isn't sure if that's enough. I just want to set an exchange date , loosing sleep and fed up! 

firsttimesellerldn

Yet again am on tenterhooks waiting to hear if my buyers solicitor has more questions or whether they’re finally ready to exchange. I’m not sure whether they’ve actually reported the results of enquires to the buyer yet so am slightly worried about whether any of the things which have come up well put them off. So far we have a defective lease (but apparently not so defective that it has to be changed..)  and outstanding financial obligations under the section 106 agreement (which I don’t think there’s a chance in hell the council will chase leaseholders for, but the drafting of the agreement isn’t completely clear). 

 I know my buyer is as keen as I am to get this sale completed so fingers crossed. Good luck to everyone else on this hellish journey! 

b608837

I know from the council that my searches arrived back Monday. Should I wait longer before asking about them/when should I expect to hear from solicitor? He hasn’t replied in over two weeks now. 

FTB_Help

EXCHANGED!!! 🎉🎉🎉

We gave authority 20 mins ago and all done. It's only taken 8 months!! 🤦🏻‍♀️

Ftb, no chain:

Offer accepted- 6 Oct

Solicitor appointed, mort app started - 7 oct

Valuation and offer- 26 oct

Building survey -12 Nov (no big issues)

Draft contract received- 26 Nov

Searches started - 26 Nov

Enquiries raised - 7 Dec

Searches back and Enquiries- 5 Jan

Report received- 8 Jan

1st week of Feb was told the tenants of the place im buying will be leaving mid May (insted of 28 Feb)!

Completion statment received and dates confirmed on 5th April

From 5th April to yesturday was just waiting for today!

Completing next week, other than the final viewing this morning, the last time we saw the house was end of September!

Best of luck everyone