The NEW waiting to exchange thread...

flyingv

CLJ2986 said:

We completed at 12pm. Its been a manic day but so happy. Thanks to everyone here that kept me sane! Good luck to all of you still waiting. 

So happy you finally made it over the line!  You must be exhausted but the happiness and relief must overshadow all that.  Good luck in your new home

I'm still waiting...

ChickenSandwichK

Well after 10 months… 2 and a half weeks of trying to exchange, yesterday morning the lender saying they had the request for funds but apparently no one did anything - I exchanged and completed yesterday at about 4pm!! Thank god it’s finally done!!

goodwithsaving

I've just been to visit my sellers to just say hello and keep them updated on my sale, and they haven't heard anything at all about their leasehold purchase in the 6 weeks since they got the process underway. No contents or property info forms. Have other peoples' solicitors waited until everything is ready to send that all across? Mine sends it as soon as received from the seller. I'm a bit concerned about their onward purchase.

birdmadgirl8

Hi everyone - just checking in to keep the misery at bay. Congratulations to all who have made it through to exchange or completion. We're into our 9th month of this & on 2nd purchase. I'm wondering (again) whether move will ever happen. Just had news that our vendors have been gazumped, so chain has to re-form. We have to wait until 17th August for our searches to come back (45 working days - argh). We pre-empted contract pack, which we're  still waiting for (sigh), cos we know searches are terrible. Survey booked for 13th July. I've put together our timeline for anyone curious. 

Sale/Purchase Timeline: Part One 

30/10/20: House on Market (sale).

3/11/20: AIP Mortgage

4/11/20: 1st Buyer Offer Accepted (sale). 

6/11/20: Our Offer Accepted (1st purchase).

13/11/20: Instruct local solicitor (problem with online outfit).

13/11/20: 1st Buyer messes us around (sale).

14/11/20: House back on market (sale).

27/11/20: 2nd Buyers' Offer Accepted (sale).

30/11/20: Mortgage approved pending valuation.

08/12/20: Draft Contract Pack to our solicitors (sale).

18/12/20: Receive Hombuyer's Report (1st purchase).

18/12/20: Buyers' Valuation Survey done (sale).

08/1/21: Vendors' draft contract pack ready for our Solicitor (1st purchase).

15/01/21: searches requested for our 1st purchase (due back 02.3.21).

21/01/21: vendors' onward purchase falls through (1st purchase).

29/01/21: buyer (FTB) wants to reduce offer by 15,000 since looks like we'll miss SDHD. We say no!

08/02/21: Vendors find new property - chain complete again (1st purchase).

04/03/31: Searches in with no problems (1st purchase).

09/03/21: Enquiries raised - kept to minimum, but a title issue needs answer for lender (1st purchase).

10/03/21: Contracts signed (sale). 

20/04/21: Finally get enquiries answered by vendors' solicitor (1st purchase).

27/04/21: Vendors lose second property - they will rent (we need to exchange urgently to allow them time for this before SDHD).

27/04/21: Receive pre-exchange contact pack from our Solicitor. 

28/04/21: Buyers still asking endless questions - causing technical problems too.

5/5/21 Our agent finally sorts out buyers. They agree to exchange.

6/5/21 Solicitor calls vendors' sol to arrange exchange. They've pulled out of sale & taken property off market!!!

Sale/Purchase Timeline Part Two

May 2021: back to property search. Everything's changed. Houses more expensive. Need to refinance.

14/05/21 Find 2nd property & make offer. Vendors take two weeks to make decision. Then they take property off market!

29/05/21 Find 3rd property.

01/06/21 Offer Accepted (2nd purchase).

04/06/21 Memo of Sale received.

07/06/21 Mortgage approved pending survey (booked for 13 July).

07/06/21 Instruct searches and request Title (before receiving contact pack) - searches will take 45 working days!

23/06/21 Chain complete - vendors found property (owners not buying), but also have long search wait.

04/07/21 Vendors have been gazumped. They go back to property search & we pray that chain will complete soon. 

birdmadgirl8

goodwithsaving said:

Have other peoples' solicitors waited until everything is ready to send that all across? Mine sends it as soon as received from the seller. I'm a bit concerned about their onward purchase.

Some solicitors do wait, as you suspect. However, we're also waiting for our contract pack from vendors (6 weeks from offer) and I've been chasing. Based on awful experience of our first purchase attempt, I'm not prepared to sit and wait for slow solicitors (our 1st vendors' solicitor was awful) to mess things up (their inaction lost our vendors at least one property, if not two). So, I would be chasing that missing contract pack if I were your seller. Things are backed up due to the SDHD, but sitting back gets you nowhere. 

Caz_Mnaz

Holy h**l @birdmadgirl8!!!!!

Eurgh. That's such a long exhausting journey with the end not yet in sight. I feel for you... X

goodwithsaving

birdmadgirl8 said:

goodwithsaving said:

Have other peoples' solicitors waited until everything is ready to send that all across? Mine sends it as soon as received from the seller. I'm a bit concerned about their onward purchase.

Some solicitors do wait, as you suspect. However, we're also waiting for our contract pack from vendors (6 weeks from offer) and I've been chasing. Based on awful experience of our first purchase attempt, I'm not prepared to sit and wait for slow solicitors (our 1st vendors' solicitor was awful) to mess things up (their inaction lost our vendors at least one property, if not two). So, I would be chasing that missing contract pack if I were your seller. Things are backed up due to the SDHD, but sitting back gets you nowhere. 

Thank you. There was a problem with my part of the chain which has meant I have a new buyer onboard (which the sellers are fine with, as I discussed it with them directly rather than via their agent), so it's hard to 'chase' as such. I will call my seller and suggests she asks though

birdmadgirl8

goodwithsaving said:

Thank you. There was a problem with my part of the chain which has meant I have a new buyer onboard (which the sellers are fine with, as I discussed it with them directly rather than via their agent), so it's hard to 'chase' as such. I will call my seller and suggests she asks though

Yes, it's a bit of a balancing act. I'm sure your seller will appreciate it if it comes across as advice. If you've got good agents, you can get them to chase further along the chain. I've found that agents can be really effective to shake things up where you can't reach. 

birdmadgirl8

Caz_Mnaz said:

Holy h**l @birdmadgirl8!!!!!

Eurgh. That's such a long exhausting journey with the end not yet in sight. I feel for you... X

Thanks! It has been a bit of a nightmare, but I've got to believe we'll dig our way out somehow. x

Princessa_2

We’ve had to extend our exchange deadline on our new build as it was this Monday and we haven’t exchanged with our sellers yet.