The NEW waiting to exchange thread...

Tiglet2

climbthatwallseegar said:

Solicitor e-mailed this morning to say everything is in more or less in place to Complete on Monday but she is awaiting one final signed document from my horrendous Freeholder. I was a bit !!!!!! as I had assumed when we Exchanged earlier this week that everything was in order. I'm now a bit worried again! I guess we still have Tuesday and Wednesday if the signature is delayed but this is the first I'm hearing of an outstanding document. I assume the buyer's solicitor would not have agreed to Exchange if she wasn't ok with it being missing up until now.

Rookie seller question:  I pay my mortgage on the 1st of every month. Should I delete my mortgage direct debit once we Complete on (hopefully) Monday? I'm tempted to leave it in just in case there is some kind of administrative delay and non payment on July 1st is recorded as a default. I'm incredibly paranoid about my credit score before I buy our onward purchase (although I already have an approved mortgage for it).

@laura_lau I keep refreshing this page hoping to read you have Exchanged!

Don't cancel your direct debit.  The mortgage will be redeemed on completion day (solicitor should have the redemption statement) and then the lender will close the account.  So, hopefully they will not collect the direct debit on the 1st, but best to wait for them to do their part.  Any overpayment will be refunded to you (though you may have to wait a couple of days).

BountyBlink

And should say, it’s not a solicitors job to chase, or progress a chain. It’s their own job to transfer the title (ensure you can buy the house) 

Its the agents job to chase their vendor, to ensure their vendor touches base with their solicitor. 

In the same breath an agent does not have a crystal ball and if they are unaware that a buyer is “ready” and a solicitor is ready to Exchange then how can they effectively do their own job by progressing the transaction for both buyer and their vendor. 

Tiglet2

NotHydra said:

laura_lau said:

NotHydra said:

If the top part of a mortgage deed is not filled out, do we do this or the solicitor:
The borrower and property part?

What are you solicitor's instructions? She sent it to me with a big "sign here" post it where i was supposed to sign. She told me not to date it and not to compile anything, apart from my signature, and the details and address and signatures of my witness.

Instructions:

Please find attached contract and mortgage deed (first page) of you to sign and return scanned and original copies in the post.

 

You can drop these in the office.

Please do not date the documentation.

The witness needs to be independent cannot be a family/relative or person residing with you.

 

Please confirm if there is any adult occupiers ages 17 or over whom will be residing with you both at the property.

Just sign it in front of the witness.  The solicitor will fill in the gaps.

cherrypancakes

TBG01 said:

BountyBlink said:

Then maybe follow up on that email in an hour by calling them, to ensure they got that email so you are not left stressing all weekend. 

So excited for you!!! 

You'd get a delivery failure notification if the email wasn't delivered. There's no need to pester them. 

There's no such thing as pestering people you are paying thousands for (in many cases) to provide you with a service. I'd be on the phone, email, send out bird calls and messages via morse code if I was this close to the stamp duty deadline and my case started months ago. 

TBG01

cherrypancakes said:

TBG01 said:

BountyBlink said:

Then maybe follow up on that email in an hour by calling them, to ensure they got that email so you are not left stressing all weekend. 

So excited for you!!! 

You'd get a delivery failure notification if the email wasn't delivered. There's no need to pester them. 

There's no such thing as pestering people you are paying thousands for (in many cases) to provide you with a service. I'd be on the phone, email, send out bird calls and messages via morse code if I was this close to the stamp duty deadline and my case started months ago. 

"Months ago", months as in how long a transaction usually takes? 

Calling to make sure an email is delivered is a phone line engaged. A phone line that could be used to update a client that actually needs an update. Not a reassurance that an email has been received. 

laura_lau

NotHydra said:

laura_lau said:

NotHydra said:

If the top part of a mortgage deed is not filled out, do we do this or the solicitor:
The borrower and property part?

What are you solicitor's instructions? She sent it to me with a big "sign here" post it where i was supposed to sign. She told me not to date it and not to compile anything, apart from my signature, and the details and address and signatures of my witness.

Instructions:

Please find attached contract and mortgage deed (first page) of you to sign and return scanned and original copies in the post.

 

You can drop these in the office.

Please do not date the documentation.

The witness needs to be independent cannot be a family/relative or person residing with you.

 

Please confirm if there is any adult occupiers ages 17 or over whom will be residing with you both at the property.

Then I would understand they just want you to sign, otherwise they would have added "compile"? If it's your personal details that need to be compiled then yes, but I remember in my case there were other things related to the mortgage and I didn't compile any of those.

laura_lau

TBG01 said:

cherrypancakes said:

TBG01 said:

BountyBlink said:

Then maybe follow up on that email in an hour by calling them, to ensure they got that email so you are not left stressing all weekend. 

So excited for you!!! 

You'd get a delivery failure notification if the email wasn't delivered. There's no need to pester them. 

There's no such thing as pestering people you are paying thousands for (in many cases) to provide you with a service. I'd be on the phone, email, send out bird calls and messages via morse code if I was this close to the stamp duty deadline and my case started months ago. 

"Months ago", months as in how long a transaction usually takes? 

Calling to make sure an email is delivered is a phone line engaged. A phone line that could be used to update a client that actually needs an update. Not a reassurance that an email has been received. 

My case started months ago, in "way longer than a transaction usually takes". My offer was accepted on the 22nd of January, and, although it being with no chain up or down, it took forever to get pretty much anything done. My last enquiry was answered before the last May bank holiday, and we have been trying to exchange pretty much ever since. Seller's solicitor then took 2 weeks to answer us to say they were happy to exchange if we were ready, and then almost 2 more weeks to send back a simple info requested by my lender before releasing funds. The advise @BountyBlink has given me was actually very valuable and I don't think I would be in this position today if she hadn't helped me to understand how I should be chasing people!

laura_lau

@BountyBlink thank you, I sent the email following your draft! I think the agent must feel very relieved too, he sounded a bit worried yesterday! will come back with updates once I have them. So, are you positive that what my solicitor referred to in her email earlier would be the completion statement? Are there any other statements she would send me now?

laura_lau

Update: quickest email back from the agent ever! Said it's great news and he has already got in touch with vendor and vendor's solicitor to ensure everything is in place. Feeling mildly positive now!

BountyBlink

laura_lau said:

@BountyBlink thank you, I sent the email following your draft! I think the agent must feel very relieved too, he sounded a bit worried yesterday! will come back with updates once I have them. So, are you positive that what my solicitor referred to in her email earlier would be the completion statement? Are there any other statements she would send me now?

Great news! Yep, normally a conveyancing assistant will handle the completion statement. As you have really only a day between exchange and completion (ie Tuesday) they will not ensure that all monies they need inc their fees are on their account ahead of Wednesday. 

Obviously you can exchange Monday without that statement. So no panic if it doesn’t come through until Tuesday etc. 

You will be unpacking with me next week then! Exciting news!!!