The NEW waiting to exchange thread...

22cuddles

Nothing to report here. Fingers crossed for some news tomorrow.

dancing_star

Please can we cross all crossables for tomorrow? My vendors conveyancer has promised to exchange tomorrow.

I did find out the reason for the delay. APparently they needed a mortgage redemption figure. I was surprised as I didn't think the house was mortgaged. (my solicitor said can usually get redemption figures over the phone so she doesn't know what they are faffing around for)

That made me think - vendor claimed on the contract she is living in the property. Now I know it had been rented out for ages and then empty a while before going on the market.

I just wonder if she didn't have either BTL or CTL on the mortgage hence claiming to live there? Hmmm, my suspicions may be in overdrive.

I hope that doesn't knacker their plan of completing....

archersluck

Making progress, I think...
Property info and fixtures and fitting form was a load of rubbish, if I wasn't polite I'd say a pack of lies.
Having boiler inspected today, waiting for the report.
Solicitor getting there, just some info on an extension required. Last week they were talking about an indemnity policy so sounding better from today's update.
We have a date to sign the paperwork next week, and some forms to fill in for the help to buy ISAs.

Alchopops

Alchopops wrote: »

Found my timeline so thought its a good time for an update..

2nd May - our house put on the market, DIP in place with YBS for another house we liked but turned out when we went to go through with the full application they could not give as much as we wanted
4th May - second viewing on a new build with small local developer, shell was complete just interiors to go
10th May - went to L&C and received DIP in writing with them, reservation accepted on new build
10th May - full application in with Barclays
15th May - reservation deposit paid on new house
31st May - we accepted an offer on our house
6th June - mortgage offer approved
4th August - completed on our sale and moved in with parents so as not to hold up our buyer, good job we did!
31st August - date new build was due to be finished
30th September - house build still not finished
2nd October - build nearly finished and sols agreed a fixed completion date of 30th Oct, there is only one more query to be answered which is the discharge of a planning condition and once this is satisfied we can exchange immediately

This week - both sets of sols had hoped to exchange but the submission for the planning condition was only sent last week and I have since found out it takes around 8 weeks to be approved by the council and it appears no-one else realised this, even our sol

In the meantime our mortgage offer expires in November but luckily the lender has agreed a 6 month extension and only needs to see the latest pay slip and bank statement but otherwise it’s a waiting game now. Really just want to exchange so we know it’s ours after all this time!

Well...looks like we’ll be exchanging and completing on Friday! Building controls due to be signed off this week so sols have requested the mortgage funds in time for Friday, the day our mortgage offer expires. Can’t exchange before just in case there are any further hold ups that mean we can’t complete on Friday so fingers crossed everything is done in time. It’s been a long 6 months.

juniordoc

No progress for me either today. Really want to exchange weds but haven't seen the final draft of the lease yet, or been asked to transfer any money to the sols for exchange, or been asked about buildings insurance.
If we can't exchange on weds we may have to give notice on our rental and then keep our fingers crossed it all goes through!
We are hoping for completion 1st Dec so as not to have to much expensive overlap with our rental (and maybe benefit from a stamp duty discount if the budget goes our way!).

hazyjo

Alchopops wrote: »

Well...looks like we’ll be exchanging and completing on Friday! Building controls due to be signed off this week so sols have requested the mortgage funds in time for Friday, the day our mortgage offer expires. Can’t exchange before just in case there are any further hold ups that mean we can’t complete on Friday so fingers crossed everything is done in time. It’s been a long 6 months.

Bloody hell :eek: Can't you get a mortgage extension just in case?

Wishing you loads of luck! Your nerves must be in tatters - and I thought mine was bad!

Good luck too Pumpkim!

And you dancing_star - literally everything crossable crossed

xx

Cheery_Daff

Well our morutgage offer was FINALLY issued today, just over 11 weeks after we put the application in :eek: However I was right not to hold my breath - after checking they DEFINITELY had all the right amounts this morning, they issued the offer using the original purchase price, which has now changed, so they'll have to do it again tomorrow :wall:

Spent 45 mins on the phone to surveyor - SO glad I picked one who ring you on the day :j was expecting a quick edited highlights, but actually he went through his entire report and we had a good chat about it. Nothing to surprising - except there's a bloody WELL in the cellar. The ONE house where we didn't go into the cellar and there's a bloody well :rotfl:

As expected, none of it will make us pull out (he did say at one point 'you're taking this remarkably well' :rotfl: ) but will need to ring round for some advice about undersized floor joists tomorrow :eek:

Just remembered I forgot to take the post round for the new buyers - cheeky blighters will have to wait another day - if it was that urgent they should have used their current address!!

Louizeg

Cheery daff.. I'm more invested in your house move than mine at the moment.. how frustrating they got the price wrong, but brill they've actually approved and you know you can get the mortgage now.

Signed all our contracts, sorted our buildings insurance, sent funds to our solicitor and we are due to exchange today (I've been up the past hour worrying as it's what I do best) but before we exchange our solicitor [STRIKE]advised[/STRIKE] told us we had to go and view again. I told her we'd seen it twice and with my roofer/builder dad looking around there was nothing we were concerned about. But she was very adamant about not exchanging contracts until we've viewed and then mentioned the fact the vendors live out of the area and used a clearance company to remove items from the house. We booked in while we were at the solicitors for today at 12.

It wasn't until we got home that my dad said hes known of house clearance companies stripping things out for their own gain, taking pipes etc or damaging fixtures & fittings. So yes, I've had a little bit of stress about that.

But we're still on for Friday, my better more sensible half said once we've exchanged we can go shopping for paint/wallpaper/flooring, so the EA best be prepared to watch us measure the house to the closest mm :rotfl: . Its just feeling so real now. We moved into my parents in june with 3 children, it's been an experience but I'm excited to get our own space back and I think they're excited to get rid of us too

dancing_star

Louizeg wrote: »

Cheery daff.. I'm more invested in your house move than mine at the moment.. how frustrating they got the price wrong, but brill they've actually approved and you know you can get the mortgage now.

Signed all our contracts, sorted our buildings insurance, sent funds to our solicitor and we are due to exchange today (I've been up the past hour worrying as it's what I do best) but before we exchange our solicitor [STRIKE]advised[/STRIKE] told us we had to go and view again. I told her we'd seen it twice and with my roofer/builder dad looking around there was nothing we were concerned about. But she was very adamant about not exchanging contracts until we've viewed and then mentioned the fact the vendors live out of the area and used a clearance company to remove items from the house. We booked in while we were at the solicitors for today at 12.

It wasn't until we got home that my dad said hes known of house clearance companies stripping things out for their own gain, taking pipes etc or damaging fixtures & fittings. So yes, I've had a little bit of stress about that.

But we're still on for Friday, my better more sensible half said once we've exchanged we can go shopping for paint/wallpaper/flooring, so the EA best be prepared to watch us measure the house to the closest mm :rotfl: . Its just feeling so real now. We moved into my parents in june with 3 children, it's been an experience but I'm excited to get our own space back and I think they're excited to get rid of us too

Fingers crossed Louize and Cheery!!!

I'm going to be glued to my phone today.

Cheery, a well! That made me laugh a lot.

juniordoc

Fingers crossed for you dancing star, congrats Cheery and good luck Louise!!!
Do you know if you as the buyer have to actively do anything today in order to exchange or do the solicitors do it amongst themselves?

I'm hoping to receive all the documents for signing today (by email, will go into their office after to sign). Still optimistic for exchange tomorrow or Thurs.