The NEW waiting to exchange thread...

laura_lau

firsttimesellerldn said:

I'm very much hoping my sale is close to exchange now.. the buyer's solicitor seems happy with an indemnity policy to cover what I believe was the final enquiry and has now asked about the soonest completion date I can do. I'm hoping they wouldn't have asked that if they weren't completely satisfied! 

Fingers crossed for that! It sounds like you are almost there! I'm in the position of your buyer, I have one last enquiry still unresolved, and the seller's solicitor keeps replying the same thing to my solicitor (that is, that the alterations to the wall were done before she purchased it, so she doesn't have any permissions in her hands). It doesn't sound like the seller is willing to offer me an indemnity policy for that, as my solicitor says for three times the answer to her enquiry was not satisfactory. A couple of certificates from the freeholder are also still missing. My solicitor is not doing a very good job in keeping me updated either. If my seller offered me the indemnity policy, I would be ready to exchange this Friday! So hopefully your buyer is as keen as I am! 

BountyBlink

HungryTruck said:

There have been so many awful moments in this process where I've written a rant in this comment box and nearly posted it, after months and months of lurking. It turns out  the day I finally hit 'send' is today - 3 days from completion, when our 'chainless' vendor's vendor suddenly reveals that they want to link up our purchase with their onward purchase and we can't complete on Friday after all. Current chain length = unknown.

Oh no 😢😢 you can ride this storm with me, also waiting for a complete chain when we thought we would be completing 11 June. Totally sucks doesn’t it? We only have a short term rental til 20 August (as broke our chain and sold) and now it looks like the 4 months rental we secured will not be enough time. I could scream! 

BountyBlink

laura_lau said:

firsttimesellerldn said:

I'm very much hoping my sale is close to exchange now.. the buyer's solicitor seems happy with an indemnity policy to cover what I believe was the final enquiry and has now asked about the soonest completion date I can do. I'm hoping they wouldn't have asked that if they weren't completely satisfied! 

Fingers crossed for that! It sounds like you are almost there! I'm in the position of your buyer, I have one last enquiry still unresolved, and the seller's solicitor keeps replying the same thing to my solicitor (that is, that the alterations to the wall were done before she purchased it, so she doesn't have any permissions in her hands). It doesn't sound like the seller is willing to offer me an indemnity policy for that, as my solicitor says for three times the answer to her enquiry was not satisfactory. A couple of certificates from the freeholder are also still missing. My solicitor is not doing a very good job in keeping me updated either. If my seller offered me the indemnity policy, I would be ready to exchange this Friday! So hopefully your buyer is as keen as I am! 

If I were you I would send a 3 line whip to your solicitor tonight just saying: 

I am giving you instruction to purchase the indemnity insurbace and I will pay it. Please advise the cost. 

I would like also to give my consent to exchange this week. 

The indemnity won’t be that much (in the grand scheme of things) for our last purchase we had a similar situation and we just paid it, cost around £100 

your solicitor can organise it in minutes as they just press a few buttons and it’s done. So easy! 

flyingv

Natbag said:

@BountyBlink – that’s so funny! I’m not sure I could bring myself to do it though, let’s see what happens today!

@naomibm – aww, thank you lovely! I just like to try and support everyone, as everyone else has me for so many months now!

@ODEN33 – awesome news, congratulations! Always nice to see an exchange happen in here! Hope you enjoy your new home, and I’m sure the stress will soon be forgotten.

@alipops1986 – welcome! Sounds like you have one of the rare efficient solicitors on board – I’m very envious!

@jenni_fer – oh no, that’s rubbish. Why can’t people just be upfront, and not mess around?! Hope you can make the end of June, maybe an incentive might help?

@laura-lau – did you get any joy with your solicitor?

 

My update: I left several messages and sent an email to my solicitor yesterday, and no reply until 5.28pm when she replied to my email to say that she hoped to be in a position to exchange tomorrow (today) – hmmmm, ‘in a position to’? Not exactly concrete then. I won’t hold my breath. She also asked us both to send her authority to exchange – are you kidding me?! I’ve been asking you every day for the last 10 days to get it done, what more do you need?! YES, JUST DO IT ALREADY FOR THE LOVE OF GOD!!!

Really hope it’s today, please, please, please!

Just catching up.  I really fingers-and-toes-crossed hope you've had good news today @Natbag, you've waited long enough!

Small update from me.  I'm still waiting on two outstanding enquiries that are with the Council, sigh.  My solicitor has chased apparently, hopefully that's all we're waiting on now.  Unless the buyer decides to raise yet more enquiries about things they've already had the answer to more than once.  Now, where's those chocolates...?

firsttimesellerldn

BountyBlink said:

laura_lau said:

firsttimesellerldn said:

I'm very much hoping my sale is close to exchange now.. the buyer's solicitor seems happy with an indemnity policy to cover what I believe was the final enquiry and has now asked about the soonest completion date I can do. I'm hoping they wouldn't have asked that if they weren't completely satisfied! 

Fingers crossed for that! It sounds like you are almost there! I'm in the position of your buyer, I have one last enquiry still unresolved, and the seller's solicitor keeps replying the same thing to my solicitor (that is, that the alterations to the wall were done before she purchased it, so she doesn't have any permissions in her hands). It doesn't sound like the seller is willing to offer me an indemnity policy for that, as my solicitor says for three times the answer to her enquiry was not satisfactory. A couple of certificates from the freeholder are also still missing. My solicitor is not doing a very good job in keeping me updated either. If my seller offered me the indemnity policy, I would be ready to exchange this Friday! So hopefully your buyer is as keen as I am! 

If I were you I would send a 3 line whip to your solicitor tonight just saying: 

I am giving you instruction to purchase the indemnity insurbace and I will pay it. Please advise the cost. 

I would like also to give my consent to exchange this week. 

The indemnity won’t be that much (in the grand scheme of things) for our last purchase we had a similar situation and we just paid it, cost around £100 

your solicitor can organise it in minutes as they just press a few buttons and it’s done. So easy! 

I was going to suggest the same. I think it is always worth asking what other options there might be to tackle the problem. My solicitor only got a quote for the indemnity at my suggestion. It is a ridiculous £165 to cover something which I cannot see would ever happen, but I don't care if that's what it takes to get it over the line.. 

inca1000

Hi everyone,
I received a phone call last week from my solicitor that buyers wanted to complete on Thurs 27th May, all good as the property is now vacant and I am living elsewhere with only a few things we've managed to move quickly this last week.
Its now Tues evening and we haven't exchanged yet, I have signed the contract, but waiting on buyers solicitor. Is this a bad sign or can exchange happen so near to completion? I need some hope. 

BountyBlink

inca1000 said:

Hi everyone,
I received a phone call last week from my solicitor that buyers wanted to complete on Thurs 27th May, all good as the property is now vacant and I am living elsewhere with only a few things we've managed to move quickly this last week.
Its now Tues evening and we haven't exchanged yet, I have signed the contract, but waiting on buyers solicitor. Is this a bad sign or can exchange happen so near to completion? I need some hope. 

Absolutely can happen quickly. Your best bet it to get onto the agent ASAP (Send an email tonight) and ask them for an update by 11am tomorrow, as you are still awaiting to give your authority to exchange & need a full update as why things have gone somewhat quiet . 

BountyBlink

BountyBlink said:

inca1000 said:

Hi everyone,
I received a phone call last week from my solicitor that buyers wanted to complete on Thurs 27th May, all good as the property is now vacant and I am living elsewhere with only a few things we've managed to move quickly this last week.
Its now Tues evening and we haven't exchanged yet, I have signed the contract, but waiting on buyers solicitor. Is this a bad sign or can exchange happen so near to completion? I need some hope. 

Absolutely can happen quickly. Your best bet it to get onto the agent ASAP (Send an email tonight) and ask them for an update by 11am tomorrow, as you are still awaiting to give your authority to exchange & need a full update as why things have gone somewhat quiet . 

Agents are better at this stage to do all the phoning and chasing, ie call your vendor, call your vendors solicitor and call your solicitor. Get your agent to earn his buck tomorrow! 

alipops1986

Evening All, 
So pleased that things appear to be starting to flow a bit more smoothly for most of you. 
We've hit a bit of a bump in the road. We were told categorically by the sales exec at the development the management charge was a fixed amount and that this was in the paperwork should we go ahead with a purchase. Here we are quite a bit down that road, and now we are told by our solicitor, it's not the guaranteed fixed amount that we were lead to believe. I've told our solicitor we expect what we were told to be honoured. I'm not feeling too hopeful, although we are more livid that we have been lied to as this did influence our decision to purchase the property. 
We are now pondering if it won't be honoured, do we continue with the purchase knowing the charge could increase over the coming years? 

Alipops x

BountyBlink

alipops1986 said:

Evening All, 
So pleased that things appear to be starting to flow a bit more smoothly for most of you. 
We've hit a bit of a bump in the road. We were told categorically by the sales exec at the development the management charge was a fixed amount and that this was in the paperwork should we go ahead with a purchase. Here we are quite a bit down that road, and now we are told by our solicitor, it's not the guaranteed fixed amount that we were lead to believe. I've told our solicitor we expect what we were told to be honoured. I'm not feeling too hopeful, although we are more livid that we have been lied to as this did influence our decision to purchase the property. 
We are now pondering if it won't be honoured, do we continue with the purchase knowing the charge could increase over the coming years? 

Alipops x

No real technical advice for you, but what I would say is anything that is making you reconsider things will in turn make any future buyer also feel like you are now, if one day you decide to sell. 

For example the house we are buying has a right of way across the back of the property for our neighbours owner. It’s a very old house so in the deeds this is a covenant that is very old too. It’s basically for “tradesmans access” in reality it is so our future neighbour can take their bins across our property (outside kitchen) and round the alley to the front.

this really put us off at first but when we really thought it through we decided it wasn’t a big thing. However, I’m sure if we decide to sell in future (and can I just say I’m never moving again lol) it probably will put people off. We used it to our advantage and renegotiated as this was not pointed out when we viewed and at offer stage.