The NEW waiting to exchange thread...

Absolock

Update from me.
Our own surveyor sent us the home-buyer's report. Usual thing for a Victorian house but not a horror story.

I am very pleased to read it is all signed, sealed and completed on for those who now have their new house keys.

Louizeg

Another day without the documents we need. Phoned our sol and she's out til tomorrow, no one can access our file and we've got tomorrow and friday to get to her if we need to. We're supposed to be completing next week, using htb isa's. She said we need to sign something for it first and that she would send it last week.
Frustrated because my partner works 12 hour shifts so is out 6 til 6. Hes only got today, tomorrow and friday off. I think we'll be waiting another few weeks at this rate

22cuddles

RXT156 wrote: »

18 weeks!!!!!!! Why so long?!?!?!? :eek::eek:

The property i’m selling is a leasehold flat so the longest delay was waiting for the management company to provide the latest accounts and a copy of the buildings insurance. That finally arrived 3 weeks ago after I rang the management company and caused a fuss. My solicitor then sent that information to the buyers’ solicitor and asked for potential exchange and completion dates. Buyers’ solicitor comes back and says they’re still waiting for their mortgage offer to be approved :mad: And that’s what we’re waiting on now. Throughly fed up now but apparently buyers still very keen, EA thought we would hear today re: the mortgage offer but I’m not holding my breathe! Fortunately, we’re not buying anywhere else at the moment so not holding anyone else up.

hazyjo

tallsmithy wrote: »

Completion this Fri, nervous & excited in equal measure!

Just worried about what can potentially go wrong! My understanding as FTB is that we are first to receive keys, however, if transactions further up the chain go awry (we're in one of 7!), wouldn't this then affect everyone? As no-one can move on unless there is a vacant property to go to??

Confused.com!

I'm in a chain of 6 so feel your pain!


Don't worry, you're at the bottom so you'll be fine. The one at the top may struggle, but it's rare so try not to worry. Will be someone else's fault, not yours. You will have fulfilled your obligation of buying a property. Your vendor will hopefully fulfil theirs too as they're so far down the chain. I was trying to avoid Fridays for this reason (who wants to have to wait until Monday rather than the next day to get it sorted!) but it seems everyone still wants to risk a Friday...


If it was re exchange, the whole chain would have to start transferring deposits again from the bottom up if they'd not reached the top by the end of the day. With completion, those at the bottom should be okay.


Good luck x

shell88

We have finally completed today! A day later than planned as our there was a miscommunication between our solicitor and Mortgage lender, so they didn't release the funds! All sorted now though and we have the keys in hand! 6 months after putting in our offer! Champagne can finally be drunk!! :j

shell88 wrote: »

We finally exchanged today!! It's been such an unnecessarily long process, but now so relieved! Due to complete on 30th

Timeline below..

29/04 - house viewed, told no chain and we are FTB
03/05 - offer accepted!
05/05 - mortgage app put in
17/05 - mortgage accepted!
08/06 - draft contract and title info etc received and initial enquiries raised
16/06 - our searches back in, ready to exchange
08/07 - after weeks of no response from vendors solicitor, we are now told they are actually purchasing somewhere
09/07 - enquiries finally answered
31/08 - the vendor are extending the lease on the flat they are purchasing but have no idea how long this can take
28/09 - we threaten to pull out of sale after no progress

Gawatate

Just got off the phone with EA. Top of the chain is complete again :-)))))) cant stop smiling. now i can properly start waiting to exchange and Solicitor can start earning our money!!!

Upsy_Staffordshire

Cinders - I hope it's all going well. Congratulations!

Shell88 - Congratulations! Enjoy your champagne! :beer:

Louizeg - that sounds so frustrating. I hope everything gets sorted for you very soon.

After the solicitor thinking we would exchange today, it hasn't happened. I haven't heard from him and he was leaving the office early today so that's that. Hoping for tomorrow now!

RXT156

Progress has been made today. Woohoooo! :j

Mortgage valuation has gone through, no issues there. Spoken to Solicitors and they are waiting on contract papers (???????) not sure what they are and where they come from?!? Can anyone shed some light?!? His longer does this take? I am just grateful to have found out some info after radio silence for the last week and a half since instructing Solicitors. Luckily they are efficient at getting the work done (not quite so much at returning calls...!).

Great to hear how everyone else is getting on

Surrey_EA

RXT156 wrote: »

Mortgage valuation has gone through, no issues there. Spoken to Solicitors and they are waiting on contract papers (???????) not sure what they are and where they come from?!? Can anyone shed some light?!? His longer does this take? I am just grateful to have found out some info after radio silence for the last week and a half since instructing Solicitors. Luckily they are efficient at getting the work done (not quite so much at returning calls...!).

Your solicitor is waiting for the draft contract, along with supporting documents, which are supplied to your solicitor by the solicitor acting for the vendor. Might take a day for them to be sent out, might take a month, it varies.

RXT156

Thanks for your reply. Does this mean I am very close to being able to exchange as long as everything is ok the other end of the chain?