The NEW waiting to exchange thread...

MayMark

Hiya, we have had our mortgage offer, all our searches are back and enquiries dealt with, what happens now? Are we at the nearly exchanging stage? What are we waiting for? Our solicitor said it’s still too early to give a date!? So I’m not sure what else needs to happen!

Saddlerstu

My solicitor is doing the exchange merry-go-round now, just needs the top of the chain to say yes and then the end is in sight for us! 🤞

hippocrates1

Turns out I could just go into branch and get my HTB closing statement printed. Feel like a Wally now. Sent half the funds to the solicitor then sending the other half tomorrow. They want a telephone conference any idea why? But that’s the last thing I should need to do before exchange. Fingers crossed. 

hippocrates1

MayMark said:

Hiya, we have had our mortgage offer, all our searches are back and enquiries dealt with, what happens now? Are we at the nearly exchanging stage? What are we waiting for? Our solicitor said it’s still too early to give a date!? So I’m not sure what else needs to happen!

Nothing but for you to sign contacts. Maybe they’re trying to slow you down if you’re not bothered about the stamp duty holiday?

catclaires

Hi everyone, good luck to those who seem really close to exchange - it looks as if some people could actually get it sorted today! I hope to see some nice updates later

@birdmadgirl8, I sympathise with your predicament. For what it's worth, I'd say you are certainly doing the kindest thing ethically by not opening to new viewings/offers, and if I were your buyer, especially if I were aware of how the market had changed, I'd be extremely grateful that you weren't! Given this, I hope they don't mess you around after their millions of enquiries!

laura_lau

small update: the EA sent an email to say the seller's solicitor has asked for his fees to draft a completion statement and that they should contact my solicitor soon. 
Not sure what this is about? I'm very ignorant on this, I didn't know the EA would be drafting the completion statement? Have I misunderstood something? Also, how long before exchange do they issue the completion statement?

Caz_Mnaz

@laura_lau the solicitor drafts the completion statement and asks the EA for their fee/invoice so they can plug in the right number! The sol pays the agent on completion day, they basically take all the money (deposit, mortgage, equity as applicable) and divy it out. So they pay themselves, the EA, any other legal stuff and then send the balance up to the chain to complete the purchase.

you’re so close!

Caz_Mnaz

@laura_lau I got my completion statement a few days before exchange once the date had been agreed by all parties (my mortgage redemption statement would vary depending on the date)

laura_lau

@Caz_Mnaz thank you! that makes sense. Reading the sentence "you are so close" send excitement through my brain, maybe I can start getting excited then!!!! 

BountyBlink

I will come back in here to reply properly but not reading anything other than the countless emails pinging on my phone today! So we won’t be exchanging tomorrow. In fact exchange was attempted today (I wanted to smoke out any issues for tomorrow lol)

One outstanding item for our vendors-vendor to sort. So it will go to next week, which meant we would not be able to drawdown mortgage funds in time to complete. 

So just spent the last 2 hours begging and pleading with our solicitor (via email
tennis) to go ahead and drawdown today. 

Which thankfully she is now doing. However now the completion date can not change so if anyone above me decides to mess us about on dates they will not be able to. 

Vendor and vendors booking removals today, they are having to pay a 50% deposit to lock in dates. 

Really didn’t want to go into weekend like this, but it’s the best we can do right now 😩

need to get to Lidl now and get some food in, and probably a big bottle of coconut rum 🤣