The NEW waiting to exchange thread...

FtbEmz

I’m so happy for you @Natbag

Louise.H

@Natbag Enjoy your new home, you definitely deserve to after your journey getting to it. 
Heard we will get our survey results back on Monday, hopefully nothing amiss on the results and we can start talking exchange dates. 

baileykxo

Hey everyone, just wondering what people experiences are with third party local authority  searches? It seems like that is what’s been applied for and now instead of 10/15 days it’s 10 weeks… 🙃🤦🏼‍♀️ Is this likely to be a true timescale or? 

oneilld3

Hi all!!
Anybody else having fun with buying? The OH and I had an offer accepted on the 4th February 2021 (17 weeks ago at time of writing), and conveyancing formally began on the 8th February. All seemed well, we are FTBs and our seller had a house sorted already.
Fast forward to 22nd March; our sellers purchase fell through but they found another almost immediately. And the seller of the house they're buying is buying a vacant possession so only a small chain. Phew!

Middle of April, all of our searches and enquiries are sorted.

Now fast forward to three weeks ago. All searches on the sellers new property have come back with between 12/21 enquiries (depending on who my solicitor speak to, this number varies somewhat).

Despite numerous requests for timescales throughout, we have no idea when were due to exchange/complete.

OH and I are currently living at her parents since August 2019, after renting for 8 years prior but not saving for a mortgage. Grateful for this, but lockdown and WFH has taken its toll. A change in circumstances last month mean we need to be out by end of June and we let all parties know this.
To try and push timescales, we've told all parties that we need to complete by WC 14th or 21st June.

I got a call yesterday and the update was this is unlikely now. Remember those enquiries from 3 weeks ago? Apparently the house our seller is buying needs a 'Deed of Variation' for leased solar panels, and an indemnity policy for a flat roofed garage and both have been requested WC 31st May.
Why has it taken this long sitting on these enquiries for them to now realise this. Why wasn't it sorted sooner when it looks like it can take months to get a deed of variation, if at all?
TIA.

hippocrates1

So after waiting and waiting on the sellers solicitor who promised he was chasing the land registry daily I got the land registry details and sorted the final enquiry myself. I want to aim for June 28th completion (I’m a doctor so my days off are pretty fixed). Do you think three weeks is enough time after the final enquiry to completion?

Justonemorecupoftea

I wish I knew what was happening with our buyer's chain. Our Estate Agent has been off this week and the person in the office who tried to chase the buyer's solicitor had no luck. Really frustrating.

Our purchase is progressing really well, searches due back on the 24th June. But as we know the local area I don't think there will be any surprises - we know it has high radon, it's on the edge of a flood area (although has never flooded) and we've checked for any current planning applications nearby (there aren't many suitable areas in the vicinity and the one area flagged for development on the local plan isn't that close and keeps getting applications rejected). So hopefully just a formality.

Although this does mean that thanks to the earlier delay in the sale, the timeline is for completion is likely to clash with my due date (mid August)... 

Jamierez

Jamierez said:

Like everyone else, we're stuck in a slow process with sellers who don't seem to be in a hurry. They are divorcing and moving into rented but have been slow to respond to the estate agent and the solicitors at every step. Our timeline has been:

• We accepted  an offer on our house in 10/09/2020.
• We had an offer accepted on a property in 09/11/2020 (this was our 2nd property as the first fell though very quickly).
• Mortgage application done and dusted early December 2020
• Searches started early January completed mid-January.
• Informed sellers are going to buy properties - 15/02/2021
• Our buyer went ape as did we and 2 weeks later, sellers changed their minds.
• Contracts for the property we are buying still haven't been sent to us (delays on the sellers end). My solicitor has promised she has everything now from the seller and the contract is being sent this week.
• Sellers still haven't found a rental despite desperate to keep us from pulling out "It is very important for their relationship both together and with others that they get this deal done !"

We are now coming up for 5 months since we had our offer accepted and 7 months since sold our property. There is a scarcity of the size of property we are buying in our area so we feel we have limited options as the market is not moving. So stuck in this limbo desperately trying to hang on to our buyer. He has been good and we will drop our price to keep him if needed. Scratching our heads as to what to do next. We even spoke with the EA to see if we could incentivise our seller but he said they didn't need incentivising! 

9 months since selling our house, 8 months since having an offer accepted on a property and we've no end in sight. All the contractual paperwork has been sorted but we still have no agreed exchange/completion date. Our sellers have still to find a suitable rental property and now one of them is looking to buy a property and the other is renting. It looks like we are going to be in a chain and we will miss the stamp duty holiday end date and with a good chance of missing the next one in September as well.

We've been looking elsewhere but there have been so few properties of the size we're after come on the market and that has meant the asking prices have increased and they are snapped up at the asking price or higher. We've decided to wait it out as paying an increased price for a property added with having to fork out for additional fees doesn't make it seem worthwhile, even with now having to pay stamp duty.

Ah well, at least the weather is good!

FtbEmz

Hi everyone. Quick question. We’re due to pick keys up on Thursday. Should I have had something from solicitor regarding land registry so we know the property is going to be transferred into my husband and I’s name? 

Also should they have asked if we wanted it tenants in common or joint as we haven’t been asked this or will they just assume joint tenants as we’re married? Thanks 

jenni_fer

Hopefully we are almost at the end!
Our EA spent a lot of time talking to our buyers and has got them to agree to (I think) 23rd July, so there will hopefully be no more threats of pulling out.
It is a shame we'll miss the stamp duty, but it was only ever a vague hope really here so I'll absolutely get over it as long as we actually complete!
Just waiting for the gas cert from the property we are buying now and then we'll hopefully be able to exchange ASAP, the sooner the better as I'm really anxious about being able to apply for the places at the new school for the kids which I can't do until that magical point in time.

Sounds like there have been a few exchanges and completions this week, congrats all! This thread moves far too fast for me to keep up!

Redwino222

Hello.  Hoping to exchange early this week, but can’t get a move date earlier than 29 June!  Turns out my buyers can’t access their deposit any earlier, which they could have told me two months ago!

But looks like we will at least get things signed so that is progress.