The NEW waiting to exchange thread...

BountyBlink

TheTruemans said:

0 progress our end…

22/6 - Emailed solicitor for updates 

23/6 - Solicitor sends enquiries to vendor and informed us that mortgage report will be sent tomorrow awaiting local searches.
Also requests additional ID documents again (for the 100th time) due to wife’s surname name change via Deed Poll
28/6 - Still no mortgage report and no word on enquires

We’re hoping to exchange soon so we can start discussing completion dates with the EA however we don’t understand two of the enquiries and they sound quite complex.

Congrats to everyone exchanging before SDH

Irritating for you ML keeps getting requested. 

You will need to confirm with your chain the completion date before you can exchange. There is no set day to exchange, you work on confirming the completion date first and the solicitors will exchange any day up until the date of completion (albeit we all like at least a week in between so usually once the C date is confirmed everyone works to exchange on a date good for all etc) 

the best person to speak to regarding the completion date is your agents - they will know where the entire chain is on for all matters, usually though dates don’t really get discussed until you are “almost there” as otherwise it can be so disheartening when the date is bear and you find out someone in the chain is waiting on something that could take weeks. 

Give your agent a call (buying) to update where you are on matters and then ask for an update where everyone else is, that will help you plan... 

hope that helps 

Firsttime2021

So patiently waiting for an email/call to say we’ve exchanged today. 

Was supposed to be last Friday but didn’t happen as our solicitors said it was their fault our side as they were so busy which I did expect to be the case.

he said they’re going to exchange first thing today, haven’t heard a thing yet so we shall see.

completion is Wednesday. 

Firsttime2021

Good luck to all those exchanging and completing this week 

TheTruemans

Thanks @BountyBlink

Me and the wife have agreed that the day we receive our mortgage report in hand we will get onto the EA to discuss completion dates.

In a perfect world the WC 19th July is our ideal.

We’re very lucky that us and the vendor are both chain free as she’s moving in with her daughter - so hopefully we can get this moving along soon!

BecsMags

hippocrates1 said:

cherrypancakes said:

Good luck everyone for this week! Hoping to see more exchanges, completions and people getting closer in general!!

Today is completion day 😭 going to be anxiously waiting for the phone call all day 

Me too good luck hope it goes smoothly 

Me too! Good luck to those waiting to complete today. It's going to be a long day!

Lau_Sand92

We are also on the hoping for exchange today and completion Wednesday. Our entire process has been a nightmare from start to finish, some of the pain as follows: 

- buyer of our flat is BTL but buying under a business name.She changed solicitors early on to an absolutely atrocious one, which only added to the issues later. Buying under a business name meant fraud and money laundering checks went on longer than expected and the mortgage want offered until 4 months after application. 
- our seller is moving to Scotland and his solicitors were trying every trick in the book to delay so that they could line up move dates. At one point they even suggested WE move into temp accommodation instead of him. He has now agreed to move into his daughters for the two weeks or so between.
- our seller is an older gentleman with hoarding tendencies. He has no support network in the town he lives in, and has accumulated a 3 bedroom house worth of stuff (we are talking floor to ceiling rubbish in some rooms...!) So we actually helped pack boxes yesterday and clear the house with a removals friend our ours....(!!!) We are letting him use the garage as storage space until he has his keys.
- we still haven't exchanged due to our buyers mortgage lender not confirming release of funds. This was due to happen last week but with them being so busy no one could get through to the lender (remember their solicitors are also awful). Any thoughts on this from more experienced homeowners? 

All in all, a stressful 5 months as we had the offer on our flat in January! We are hoping its finished and confirmed by this afternoon for completion Wednesday. Good luck all! 

lg220701

BountyBlink said:

lg220701 said:

This may be another silly question but we are first time buyers and unsure on the whole process. 

The enquires were responded to by the seller and received by our solicitor on 22/06/2021. I was told that we are just waiting for these to be reviewed to see whether any more enquiries should be raised. We are still yet to hear, what is the usual timeframe for reviewing enquires? Unsure whether to chase or not - however beginning to get impatient and both sides are wanting to exchange asap 

It depends on what the enquiries are. 

If for eg. enquiries are complex regarding a lease, then yet it’s perfectly reasonable to wait a bit before following up with your solicitor. 

However if these are enquiries like “when was the boiler last serviced” “no compliance for FENSA windows & patio doors” etc etc then yes these are enquiries that you can either take a view on (get indemnity Insurance which is simple and set up on day of completion) or request your vendor to cover indemnity costs. These sort of enquiries if back on 22/6 should allow you to exchange/complete ASAP, and I can see why others in the chain could be chasing you, because I would...  

So interms of advice given here it really depends on what the enquiries are complex ones will take a bit of time and might need further enquiries, other more standard enquiries can be sorted same day. 

do you know what your enquiries were? 

Hi,

thanks for all the replies - enquires were rather straight forward, just regarding electricity services etc.

my solicitor actually emailed me at midnight last night and has reviewed the responses. He is happy with them apart from a couple. Rather straight forward.

thanks 

BountyBlink

lg220701 said:

BountyBlink said:

lg220701 said:

This may be another silly question but we are first time buyers and unsure on the whole process. 

The enquires were responded to by the seller and received by our solicitor on 22/06/2021. I was told that we are just waiting for these to be reviewed to see whether any more enquiries should be raised. We are still yet to hear, what is the usual timeframe for reviewing enquires? Unsure whether to chase or not - however beginning to get impatient and both sides are wanting to exchange asap 

It depends on what the enquiries are. 

If for eg. enquiries are complex regarding a lease, then yet it’s perfectly reasonable to wait a bit before following up with your solicitor. 

However if these are enquiries like “when was the boiler last serviced” “no compliance for FENSA windows & patio doors” etc etc then yes these are enquiries that you can either take a view on (get indemnity Insurance which is simple and set up on day of completion) or request your vendor to cover indemnity costs. These sort of enquiries if back on 22/6 should allow you to exchange/complete ASAP, and I can see why others in the chain could be chasing you, because I would...  

So interms of advice given here it really depends on what the enquiries are complex ones will take a bit of time and might need further enquiries, other more standard enquiries can be sorted same day. 

do you know what your enquiries were? 

Hi,

thanks for all the replies - enquires were rather straight forward, just regarding electricity services etc.

my solicitor actually emailed me at midnight last night and has reviewed the responses. He is happy with them apart from a couple. Rather straight forward.

thanks 

That’s great! You should be able to push it now, if your solicitor is emailing so late at night, I would say they believe you are ok to exchange now (they just wouldn’t this week be in contact if they didn’t believe you could get over the line) 

all the very best with your move 

Firsttime2021

Lau_Sand92 said:

We are also on the hoping for exchange today and completion Wednesday. Our entire process has been a nightmare from start to finish, some of the pain as follows: 

- buyer of our flat is BTL but buying under a business name.She changed solicitors early on to an absolutely atrocious one, which only added to the issues later. Buying under a business name meant fraud and money laundering checks went on longer than expected and the mortgage want offered until 4 months after application. 
- our seller is moving to Scotland and his solicitors were trying every trick in the book to delay so that they could line up move dates. At one point they even suggested WE move into temp accommodation instead of him. He has now agreed to move into his daughters for the two weeks or so between.
- our seller is an older gentleman with hoarding tendencies. He has no support network in the town he lives in, and has accumulated a 3 bedroom house worth of stuff (we are talking floor to ceiling rubbish in some rooms...!) So we actually helped pack boxes yesterday and clear the house with a removals friend our ours....(!!!) We are letting him use the garage as storage space until he has his keys.
- we still haven't exchanged due to our buyers mortgage lender not confirming release of funds. This was due to happen last week but with them being so busy no one could get through to the lender (remember their solicitors are also awful). Any thoughts on this from more experienced homeowners? 

All in all, a stressful 5 months as we had the offer on our flat in January! We are hoping its finished and confirmed by this afternoon for completion Wednesday. Good luck all! 

Good luck!!! We are hoping for exchange today also 

we’ve been on this road since February so it’s been going on a while.

Ricky116

I'm sat here with the day off work waiting to get the call to say we are done and I can get the keys. All I can think of is: what an idiot I am! Should have taken tomorrow off and just got the keys after work today. What a waste of my annual leave. Hah! This is noted for next time as a learning experience!