The NEW waiting to exchange thread...

caz_cardiff87

GioSan said:

caz_cardiff87 said:

GioSan said:

How long does the Lender takes to review the final report from solicitor to give a green light to agree thats it's all fine and they are happy to release funds...so that we can xchange! It's been 3 days and counting!!!

Mine says it's confirmed for release on the 1st June ready for completion on the 2nd - they received the paperwork yesterday from my solicitor. Depends which lender you are with I suppose and if anything has been thrown up in the searches / enquiries. I was lucky with my purchase as all searches came back fine and my solicitor only had to raise one enquiry about the cavity wall guarantee which the vendors solicitor promptly sent to her. 

Thats really awesome...I had past subsidence 20+years and this was picked up in the valuation too and the valuer from the Lender suggested it's fine and not ongoing etc and values at the sale price. Anyway, it's difficult to know whether the solicitor is actually waiting on Lender confirmation or they are busy anyway.

Yeh it wasn't too shabby tbh - i'm in a fortunate position. The surveyor noted 3 main things - boiler needs replacing (back boiler), radiators are a bit rusted, 2 spots of rising damp. I can get a free boiler replacement including radiators and a top up of roof insulation for free (single working parent on UC) and the vendor supplied me with the cavity wall guarantee - 5 years left and the company who installed it is still going. So it has saved me a fair bit. 
Considering we are in wales, the mining search was clear, local search raised no issues so yeh, i was chuffed to bits!
It's a cute little 1960's 3 bed semi and i cannot wait to make it my new home!

ZSC

Natbag said:

ZSC said:

ZSC said:

ZSC said:

ZSC said:

Going to eventually post on this thread after being a long-time lurker! 

I’ll not bore anyone with the previous house we tried to buy where the chain collapsed 3 times and now we are living at parents 😩

26/3 - offer on property accepted
29/3 - mortgage application submitted with Virgin 
29/3 - searches submitted 
29/3 - homebuyers survey booked for 28th April
07/4 - all searches back
08/4 - mortgage offer received 

Now we are just waiting on the draft contract from our sellers so we can get going with all the enquiries which I hope can be done pretty quickly if everything looks ok!

Thought I would add my update on here since everyone else has been so helpful 

27/04 Draft contract received 
28/04 Homebuyers survey 
29/04 Report received - a few things on there but happy to resolve ourselves 
07/05 First lot of enquiries raised with sellers solicitor - however no report on title yet due to it being an unregistered property and title hasn’t been sent to solicitor yet. All other reports have been sent (minus anything from enquiries!) 

So now I guess it is just a wait to see how quickly the sellers solicitor responds to mine! Hoping for an early June completion but not overly optimistic!

Good luck to everyone hoping to complete today!! Following you all closely keeping my fingers crossed! 

We sent all of our signed docs back last week, but waiting for responses to enquiries. Really hoping we get them next week so we can still aim for the 4th June... tight, but fingers crossed!

Popping back in with an update! Just been onto our solicitors portal and it states ‘responses to enquiries received, proposed completion 11th June!’ 

Eeek! Is it too push to email her and ask when the report on everything will be?! 😂 I know she was chasing enquiries on Tuesday, so must have received them today... 

I need this deposit out of my bank account ... it’s burning a hole 😂

Yes I'd call, you need your title report and contracts to read, sign and have witnessed - if you could get those by tomorrow you'd have the bank holiday weekend to sort it and get a head start. Great news though, how exciting!

Oh we have already signed and had witnessed all of the docs! Already had the other reports etc, just not the final one! 

I feel like we can’t be excited until the keys are in our hands - we have been at this stage before when a chain has collapsed ... positive thinking though 🤞🏼🤞🏼🙌🏼🙌🏼

Have you heard anything yet about yours?! I feel like we all should have some sort of celebration for you 😂

lzzwzz

I"m willing good luck on everyone waiting and frustrating this week!
My offer was accepted mid April so still really early days. I've had my homebuyer report back which flagged up a couple of things; roof repairs and some points for the solicitor to ask about regarding the single storey extension.
All went quiet for a few weeks as the chain wasn't complete (Me FTB > my vendor > their vendor). Just heard today that their vendor has agreed to move out as they haven't found anywhere! So this could be a short chain!
Under no illusion that this might mean a quick turnaround judging from everyone else's experiences 

Justonemorecupoftea

@lzzwzz that's good news though!
We have an odd chain in that our buyer is selling somewhere, moving in with family and buying ours outright for their daughter. So we are reliant on them completing, but they don't need to worry about us having everything lined up. The estate agent seems to think it should be relatively simple as their process is quite far along (although not heard anything recently...)

laura_lau

caz_cardiff87 said:

Natbag said:

@GioSan - not long I hope, as I think that's what we are waiting for from our buyers to be able to actually get that exchange done. Hope you get it soon.
@baileykxo - welcome! Hope those searches are back soon for you. I'd expect it to take the full time, and anything sooner is a bonus. You can only go as fast as the slowest party in your chain though. There's a handy timeline here: https://www.moneysavingexpert.com/mortgages/buying-a-home-timeline/
@caz_cardiff87 - definitely keep calling and pushing, nothing gets done otherwise I've found! Hope they call with good news very soon!

All sorted! She e-mailed the new completion doc and i sent the deposit and fees straight over - never have i checked anything as many times as I checked their sort code and account number, my hands are still sweating. 

All set to exchange tomorrow, she just asked me to email her in the morning to give her permission to go ahead and she will call when it's done.
Scuse me while i go poo myself.

@caz_cardiff87 That frightens me too! I'm so scared to send the deposit to the wrong account, ahah! May I ask you how did you send it? Were you able to send it online? I've been reading around about chaps payments to be sure it goes on the same day and to be sure you can send the whole deposit at once, and I asked to the customer service of my bank to understand how to best do it, and they were not helpful at all..... So I'm still not sure how I'll do that!

BountyBlink

Will catch up with you lovely lot later as currently in a Lemur enclosure... but our CHAIN IS COMPLETE, and they only have found an unoccupied chain free house!!!! Both cash buyers above searches turnaround in my area 1-2 days... race is on for completion in under 5 weeks! Hahahaha I LOVE a challenge!!! 

Will catch up on everyone else’s news when I’m home later, but needed to come on and tell you all... now I can give the good news to my husband (is it weird I wanted to tell you all first!) 

Caz_Mnaz

Yay @BountyBlink and also love the fact you're in a lemur enclosure 😂😂

@caz_cardiff87 @laura_lau I literally just sent mine from my current account via my app.... Solicitor emailed immediately to say they had it. They're going to have to send it back now though as exchange has been delayed until next week...

cherrypancakes

@caz_cardiff87 damn what happened? I literally was just writing I hope it goes smoothly tomorrow!
@BountyBlink its not weird at all, it really feels like we're all in this dreary purgatory together, I spend way too much time on here checking on everyone's updates lol


Also I've signed and returned my mortgage deed and sales contract, what else needs to be signed before exchange? I haven't received any title transfer docs yet ... 

laura_lau

@Caz_Mnaz thank you! that's reassuring! What's not reassuring is that my bank's customer service didn't seem to know that! Sorry to hear exchange has been delayed! I keep my fingers crossed it happens next week for you!!
So, I've just received a reply from my solicitor (yesterday I told her immediately the seller had agreed to everything and we could talk dates). She's saying that she sent the draft of the indemnity policy for the kitchen wall to the seller's solicitor, as they requested it. (couldn't they draft it themselves? Maybe the seller's solicitor is the real culprit here??) and she is now awaiting confirmation that the seller agree to pay an allowance to cover the policy. (which, according to the EA she did, but maybe it wasn't clear in the solicitor's reply?). She then says "I'll bear in mind your comments (I told her I want to exchange on the 2nd June and complete the 4th, or by the 9th at the very latest), and hopefully we can exchange on the 2nd with completion on the 9th". I don't know why, but this email did everything apart from reassuring me! 

climbthatwallseegar

I’ve cracked and sent a semi hysterical email to my freeholder begging them to answer my solicitor’s remaining enquiries. There were lots of exclamation marks, sentences in bold and mention of my children in a bid to garner some sympathy. Let’s see.