The NEW waiting to exchange thread...

bellabella

Thanks to all who answered my last query I have emailed the local council and they have confirmed that the searches were returned to our buyers solicitor on the 26th May . So I have no idea what thee estate agent was telling me that it would be at least a month anyway I have today e mailed our solicitor to see if there is any news from the buyers  anything else i can do to chivvy everyone along?

baileykxo

bellabella said:

Thanks to all who answered my last query I have emailed the local council and they have confirmed that the searches were returned to our buyers solicitor on the 26th May . So I have no idea what thee estate agent was telling me that it would be at least a month anyway I have today e mailed our solicitor to see if there is any news from the buyers  anything else i can do to chivvy everyone along?

contact the buyers estate agent as they will likely tell you what’s going on, on their end of things. That’s what I’ve done and they’ve chased things for me as well. 

James-may

Kirkii27 said:

Is anyone in the process of buying leasehold ? I’m just wondering how long it takes roughly as we have agreed a price with the land owner. Our searches have started today on the property we are purchasing but purchasing the freehold at the same time.

The ea said she wasn't convinced the seller was ever really committed to selling, I mean they gave no indication of that to me, and the seller seemed nice and helpful and was telling me even after the offer was accepted that they would leave things here for me if I wanted.
Very strange, unfortunately nothing suitable has come up again, views maybe 12 places since.
Really frustrating, we also found somewhere else  that looked ideal from the pics, been on the market for months.
5 mins before the viewing we get a call to say it had sold😭.
My broker said that Santander are still processing my application, so hopefully I get approved subject to valuation of wherever I find, as that's the next thing, I'm still uncertain wether I'll get approved for a mortgage.

Rachylou1981

Hi all
Been trying to work out when it's appropriate to start chasing for a completion date. 
Currently, mortgage & valuations sorted, all buyer queries have been answered, contract & transfer signed but searches are still underway. Do they need to be back first?

What kind of questions should I be asking/what other things need doing before I start suggesting completion dates? Don't want to run before I can walk

baileykxo

Rachylou1981 said:

Hi all
Been trying to work out when it's appropriate to start chasing for a completion date. 
Currently, mortgage & valuations sorted, all buyer queries have been answered, contract & transfer signed but searches are still underway. Do they need to be back first?

What kind of questions should I be asking/what other things need doing before I start suggesting completion dates? Don't want to run before I can walk

Has everyone else in your chain got to the same point as you, I’m assuming they have? If so it depends how long the searches will take because you could complete without them but obviously it’s a risk of you don’t know everything that it might show. You could get delayed searches insurance to allow you to complete before getting them. 

Rachylou1981

baileykxo said:

Rachylou1981 said:

Hi all
Been trying to work out when it's appropriate to start chasing for a completion date. 
Currently, mortgage & valuations sorted, all buyer queries have been answered, contract & transfer signed but searches are still underway. Do they need to be back first?

What kind of questions should I be asking/what other things need doing before I start suggesting completion dates? Don't want to run before I can walk

Has everyone else in your chain got to the same point as you, I’m assuming they have? If so it depends how long the searches will take because you could complete without them but obviously it’s a risk of you don’t know everything that it might show. You could get delayed searches insurance to allow you to complete before getting them. 

I'll check this thank you but I know my sellers are further on with searches & on the ball as they want to complete to catch stamp duty deadline (but I think this is unlikely). My buyers have been ready a while. It's probs the sellers onward chain that I need more info on which no doubt my sellers have. They were moving into rented/with family though so end of chain

CLJ2986

Thanks for the advice, I'll call solicitor later on and she what they say about indemnity insurance if this one last thing hasn't been resolved. As far as I know all that's left is the one query, my proof of funds and buildings insurance. Speaking of, do any of you knowledgeable people know how I add my mortgage lender on the policy? My solicitor said they need to be named but all the online quotes don't seem to ask, or have I just not got far enough as obviously haven't fully applied yet 🙃

baileykxo

Rachylou1981 said:

baileykxo said:

Rachylou1981 said:

Hi all
Been trying to work out when it's appropriate to start chasing for a completion date. 
Currently, mortgage & valuations sorted, all buyer queries have been answered, contract & transfer signed but searches are still underway. Do they need to be back first?

What kind of questions should I be asking/what other things need doing before I start suggesting completion dates? Don't want to run before I can walk

Has everyone else in your chain got to the same point as you, I’m assuming they have? If so it depends how long the searches will take because you could complete without them but obviously it’s a risk of you don’t know everything that it might show. You could get delayed searches insurance to allow you to complete before getting them. 

I'll check this thank you but I know my sellers are further on with searches & on the ball as they want to complete to catch stamp duty deadline (but I think this is unlikely). My buyers have been ready a while. It's probs the sellers onward chain that I need more info on which no doubt my sellers have. They were moving into rented/with family though so end of chain

Ah right yeah it’s probably worth checking about that then and maybe talk to their EA and see if they know as estimate for their searches to be returned because I think that will determine what you do as well. 

Caz_Mnaz

CLJ2986 said:

Thanks for the advice, I'll call solicitor later on and she what they say about indemnity insurance if this one last thing hasn't been resolved. As far as I know all that's left is the one query, my proof of funds and buildings insurance. Speaking of, do any of you knowledgeable people know how I add my mortgage lender on the policy? My solicitor said they need to be named but all the online quotes don't seem to ask, or have I just not got far enough as obviously haven't fully applied yet 🙃

I asked my solicitor about this re insurance and he said not to worry about it....so I didn't 🤷‍♀️😂

BountyBlink

bellabella said:

Thanks to all who answered my last query I have emailed the local council and they have confirmed that the searches were returned to our buyers solicitor on the 26th May . So I have no idea what thee estate agent was telling me that it would be at least a month anyway I have today e mailed our solicitor to see if there is any news from the buyers  anything else i can do to chivvy everyone along?

I think it was me with advice to email the council. You have done well. Well, I’m a complete control freak when buying & selling as it helps to manage my anxiety/stress, but more importantly you can help manage the chain and yours and your buyers expectations. 

I always find out who is in my chain; how many parties, where they are on matters. For example we have been ready to exchange for about 3 months. Our vendor pulled from 1st chain, so found another 7 weeks ago, so even though at that point the original chain (me and my vendor were 4 months old) the chain was new. Then my vendors - vendor had to pull out of another property due to structural issues, found again quickly but that was only 2 weeks ago. So I know that our vendor is ready now (cash buyer/searches back/enquiries answered/survey done) however, our vendors vendor is only 2 weeks in so that really is the “age” of our chain. She is a seasoned mover so she hopes to get everything done in 4 weeks from offer ie before 30 June. Which is doable, as she had a survey 4 days after offer, searches ordered and returned last week in 24 hours, and the house she is buying is unoccupied and not a probate sale. So we have everything crossed. 

But... it will be how quick her vendor can answer enquiries now and how quick her solicitor will “report” to her with contract and Title. But it’s doable. 

If I were you I would send a short email to your agent (selling) and one to the agent (buying) Something like...