The NEW waiting to exchange thread...

Caz_Mnaz

uralmaid said:

I have got to the point where I have lost all excitement and interest in the house we are supposed to be buying.  We initially agreed a sale of our property in late August last year. After months of investigation the buyers turned out to not be able to proceed. Sold again - same thing but due to an issue with the buyers own land.  We got new buyers in February then they had to stop their sale as their buyers had not even applied for their mortgage. They got new buyers same day but now the last search is taking ages.  Now it looks like we won't meet the stamp duty deadline.  It's just soul destroying, especially as none of it has been a problem with our property.  Every Monday morning I wake up with enthusiasm and hope but by the end of that day I am in despair again after not hearing anything, which usually continues the whole week.  We have been living out of boxes since the beginning of October last year - as we kept been told completion was imminent.  It's causing lots of arguments with me and my hubby as we are both so stressed - added to the fact that his Mum died 3 weeks ago and we had to arrange a funeral and everything whilst living 100 miles away. I just want it all to end.Grrrrr!

I totally sympathise. Our delays were all due to our buyers buyers etc and we kept getting it in the neck from our vendors and nearly lost our purchase. We are moving back to home and I lost my dad pretty suddenly so too had all of that going on miles away.

No advice other than hang in there.... 10 months it took us but we complete on Friday so it does happen even when you feel like it won't or just want to give up xx

BountyBlink

Drem1992 said:

Hey, when people have mentioned reviewing draft contracts, are you referring to the solicitors receiving them on your behalf or you yourself getting them?
When I last spoke to our solicitor she said we are essentially ready to go when the vendor has secured her rental property, yet we haven't seen any contracts, any fixtures and fittings lists etc. Is this something we should have by now? Might just be FTB naivity!

You should have had this already... Drop your solicitor an email today, saying

dear blah blah blah 

I am yet to receive Contract pack, inc. Property forms & Fittings & Contents. 

When will you be reporting to me so I can return signed Contract? 

Many tanks in advance 

BountyBlink

uralmaid said:

I have got to the point where I have lost all excitement and interest in the house we are supposed to be buying.  We initially agreed a sale of our property in late August last year. After months of investigation the buyers turned out to not be able to proceed. Sold again - same thing but due to an issue with the buyers own land.  We got new buyers in February then they had to stop their sale as their buyers had not even applied for their mortgage. They got new buyers same day but now the last search is taking ages.  Now it looks like we won't meet the stamp duty deadline.  It's just soul destroying, especially as none of it has been a problem with our property.  Every Monday morning I wake up with enthusiasm and hope but by the end of that day I am in despair again after not hearing anything, which usually continues the whole week.  We have been living out of boxes since the beginning of October last year - as we kept been told completion was imminent.  It's causing lots of arguments with me and my hubby as we are both so stressed - added to the fact that his Mum died 3 weeks ago and we had to arrange a funeral and everything whilst living 100 miles away. I just want it all to end.Grrrrr!

So hard on you especially losing your mum. 

I would articulate a strongly worded email to your agent. Something like; 

dear blah

Our sale has not progressed satisfactory due to various broken links in the downward chain. 

We need answers today on timescales, otherwise we will be reviewing options about if we continue to sell/move, as this is now seriously affecting my health and my families. 

Please can you give me a full explicit update, today, with where exactly everyone is on matters so I can make a final decision on whether to move forwards. 

I look forward to hearing from you. 

Many thanks 

BountyBlink

trance_abbey said:

WoooHooo my searches are back! Now I'm just waiting on the report from the structural engineer and I've then done absolutely everything that I can from my side. Sadly, my solicitor (who is awesome) emailed me on Saturday to let me know that the sellers haven't sent ANY of the paperwork that they need except for the bill of sale... so I've tried chasing them up.

If they don't get on with it I'm seriously considering asking them to pay half my stamp duty fees because it's not my fault I'm not going to make the deadline.

It it infuriates me when people put their houses on the market and then think the magic fairy will come along and do the paperwork and their house will just sell, really feel for you. Fire off an email to the agent you are buying through requesting an update to the paperwork and that you need it sent this week. 

Hope you can move it along now. 

Firsttime2021

So the solicitors on both sides have got their acts together and my parents have received all the enquiries paperwork by email to print sign and send off. As they are selling at undervalue to us they have to sign an indemnity policy to agree this.

Hoping as soon as their solicitors receive this we can exchange and complete, luckily neither of us have chains either side and we’ve all agreed to do ASAP. 

Frustrated that we could have had this done and dusted already but it’s sorted now. 

I am hopeful by end of next week we will have exchanged 

Justonemorecupoftea

We (re)accepted an offer from our buyer two weeks ago. They've not done id checks or provided funds for searches for their solicitors yet. Local searches are taking 16 working days at the moment.

What's a reasonable timeframe for this to happen before I start threatening to go with another buyer (this buyer screwed us around before but was still the highest offer and had a couple of other advantages).

We did it over a weekend (pack arrived Friday, we popped their the solicitor's door on Sunday and transferred the cash).

sw7

Just got a call from the EA that the entire chain is ready and aiming for exchange tomorrow. Trying not to get my hopes up until I speak to the solicitor as I'm fully expecting them to say "nah, we're not there yet".

sw7

Justonemorecupoftea said:

What's a reasonable timeframe for this to happen before I start threatening to go with another buyer (this buyer screwed us around before but was still the highest offer and had a couple of other advantages).

Sorry, not totally familiar with your history off the top of my head, but does your buyer have a mortgage involved? Might not be unreasonable for them to wait before they commit to other costs, but as a seller you're well within your rights to give them a deadline for starting else you will go with someone else.

If the buyer has already been problematic I'd be inclined to ditch them before they cause more problems later.

BountyBlink

Justonemorecupoftea said:

We (re)accepted an offer from our buyer two weeks ago. They've not done id checks or provided funds for searches for their solicitors yet. Local searches are taking 16 working days at the moment.

What's a reasonable timeframe for this to happen before I start threatening to go with another buyer (this buyer screwed us around before but was still the highest offer and had a couple of other advantages).

We did it over a weekend (pack arrived Friday, we popped their the solicitor's door on Sunday and transferred the cash).

If it were me, I would give them til Friday COP to confirm that searches have been ordered, but then again I’m a complete control freak and need things done quick, without dilly dallying. 

To give some perspective, our chain fell apart twice before it reformed on 27 May (above vendor) both my vendor and i stipulated that we needed to get things done quickly without delay. That vendor at the top, from offer to now, instructed searches 2 days after having her offer accepted and managed to find a book a surveyor for 4 days after offer. It’s not been 2 weeks since they offered, and yet we are already discussing exchange for next week. 

Your chain will go as quick as the slowest link so if after 2 weeks they haven’t even put monies on account or done ID checks this would say to me they have not instructed that solicitor with fear of any cost. Alarm bells would strike for me and I would be feeling that they are still viewing other properties. Set the tone, give a deadline, if they love and want your house they will be motivated to get things done, any excuses or actions don’t stack up to words put it back on market. 

Justonemorecupoftea

sw7 said:

Justonemorecupoftea said:

What's a reasonable timeframe for this to happen before I start threatening to go with another buyer (this buyer screwed us around before but was still the highest offer and had a couple of other advantages).

Sorry, not totally familiar with your history off the top of my head, but does your buyer have a mortgage involved? Might not be unreasonable for them to wait before they commit to other costs, but as a seller you're well within your rights to give them a deadline for starting else you will go with someone else.

If the buyer has already been problematic I'd be inclined to ditch them before they cause more problems later.

They don't have a mortgage involved - they will be a cash buyer once another sale has completed (a separate, but sort of linked chain that doesn't rely on their purchase of our property as they'll be staying with family). I'm wondering if they are having trouble with the sale so delaying. I'm going to call my EA abou giving them a deadline. My slight hesitancy about going elsewhere is I'm worried a mortgage provider doing a paper valuation my down value the house compared with other recent sales, but it is a unique property on the street.