The NEW waiting to exchange thread...

Ricky116

Are those exchanging now and aiming to complete on last week of June not worried about being *both* tied into the purchase *and* at risk of paying SDLT if either/any party doesn't make the completion date? (i.e. my question here: https://forums.moneysavingexpert.com/discussion/6275366/notice-to-complete-issued-by-buyer-hypothetical)

I only just found out about this, and now I'm wondering if everyone is in this same boat.

Rincewindcl

Ricky116 said:

Are those exchanging now and aiming to complete on last week of June not worried about being *both* tied into the purchase *and* at risk of paying SDLT if either/any party doesn't make the completion date? (i.e. my question here: https://forums.moneysavingexpert.com/discussion/6275366/notice-to-complete-issued-by-buyer-hypothetical)

I only just found out about this, and now I'm wondering if everyone is in this same boat.

I'm ok as I'm a FTB, but our sellers are worried of this, yes. This has definitely made them hurry up with the last enquiries!

Lemonyrose13

Arghhhhh! So I had a call from the estate agent this morning to give us an update on where we're at. Great, except she has now told us that the vendors are in fact aiming to catch the Stamp Duty Holiday (not totally unexpected but still news to us) and then she went into complete panic mode/meltdown at the fact that we haven't closed down our Help to Buy ISAs yet as we were told to wait until we started to talk dates and that it's going to put our purchase in jeopardy! I can't get through to my solicitor, so my husband and I have closed down our ISAs anyway and I've sent her an email asking to call me/respond ASAP to confirm everything is going to be OK! I could literally cry right now! This had better not cause our purchase to fall through!

lauren_247

Hi all, 

Been watching this thread for a while now and decided to ask for some advice. We are FTBs and we had our offer accepted on 29/03/21. Everything is sorted on our end and has been for a good five weeks now. 

Our vendors are still waiting for searches apparently and there is a delay on their onward purchase as it is a divorcing couple. I have spoken to the EA and they’ve said that they think someone will break the chain (didn’t mention any wait on searches) but the woman dealing with it is on holiday until this Friday (found this out last week). We have no idea what’s going on and I really wanted to get in before the stamp duty holiday ends! Do you think this could still happen? Any advice on what to do? 

Thanks 

Lauren x 

Louise.H

Lemonyrose13 said:

Arghhhhh! So I had a call from the estate agent this morning to give us an update on where we're at. Great, except she has now told us that the vendors are in fact aiming to catch the Stamp Duty Holiday (not totally unexpected but still news to us) and then she went into complete panic mode/meltdown at the fact that we haven't closed down our Help to Buy ISAs yet as we were told to wait until we started to talk dates and that it's going to put our purchase in jeopardy! I can't get through to my solicitor, so my husband and I have closed down our ISAs anyway and I've sent her an email asking to call me/respond ASAP to confirm everything is going to be OK! I could literally cry right now! This had better not cause our purchase to fall through!

Eek thats really annoying you weren't told before now about their wanting to make the deadline, hope it all works out OK for you. 

Twiddling my thumbs wondering if I'll hear from the solicitor today as promised. Think its time for a glass of wine to calm me down. 

hippocrates1

Lemonyrose13 said:

Arghhhhh! So I had a call from the estate agent this morning to give us an update on where we're at. Great, except she has now told us that the vendors are in fact aiming to catch the Stamp Duty Holiday (not totally unexpected but still news to us) and then she went into complete panic mode/meltdown at the fact that we haven't closed down our Help to Buy ISAs yet as we were told to wait until we started to talk dates and that it's going to put our purchase in jeopardy! I can't get through to my solicitor, so my husband and I have closed down our ISAs anyway and I've sent her an email asking to call me/respond ASAP to confirm everything is going to be OK! I could literally cry right now! This had better not cause our purchase to fall through!

Lemonyrose13 said:

Arghhhhh! So I had a call from the estate agent this morning to give us an update on where we're at. Great, except she has now told us that the vendors are in fact aiming to catch the Stamp Duty Holiday (not totally unexpected but still news to us) and then she went into complete panic mode/meltdown at the fact that we haven't closed down our Help to Buy ISAs yet as we were told to wait until we started to talk dates and that it's going to put our purchase in jeopardy! I can't get through to my solicitor, so my husband and I have closed down our ISAs anyway and I've sent her an email asking to call me/respond ASAP to confirm everything is going to be OK! I could literally cry right now! This had better not cause our purchase to fall through!

You could always ask them to pay for the money list I’m bonus if they save on stamp duty? But hopefully will have enough time. 

MayMark

Hi All

we have just got our mortgage offer yesterday (after a long long battle with Santander and then being saved by Coventry) this took way longer than we imagined and pushed us too far to reach the stamp duty deadline, it’s annoying but we’ve made our peace with it.

we spoke to our solicitor before we got the offer and she said all was done, searches all back and enquiries dealt with (we let asked her to keep those going while we were waiting for mortgage offer) and she was waiting on our mortgage offer.

she has now received this and is happy with it but when we asked for a rough completion date she said “it’s too early to give a date”

so my question is what still needs to happen lol!? I’m confused! Also how long roughly from mortgage offer are people exchanging?

many thanks 

Reddington85

So our week long silence from the buyers continues. Not responding and their solicitors are also on the quiet.

Fearing the worst now!

laura_lau

My update: no news from the solicitor yet. She contacted the lender yesterday to request release of funds for completion next week, and they sent a form about the building insurance, which we had already informed them is done by the management company, as the property is leasehold. It seems to me an unnecessary delay, as they had plenty of time to ask me to compile it! I sent it back immediately last night. We were supposed to exchange today, but I haven't heard back yet. I have the feeling it will not happen today, once again.

catey92

’We’re selling our property, no chain.  

Offer accepted - 28th March, 
Survey - 9th April (homebuyer survey we thought) .  We have since been told survey fine, enquiries received/sent back.  Yesterday,  was  told by EA/solicitor waiting only for searches/ exchange any time.  I got a call this morning from a survey company, they want to book in the home buyer’s survey for 28th June.  The house is 1930s terrace and totally appropriate that a home buyer survey is done.  I have emails from the EA stating the home buyer survey waa booked in for 9th April, now know that this was the valuation.  I feel totally fed up , not sure who with, but surely someone EA / solicitor should have notified  me that the buyer hasn’t had Homebuyer survey yet ? Should  the buyer have been told to have this done earlier?  So whilst I thought we were waiting to exchange , we really are not 🥲