The NEW waiting to exchange thread...

birdmadgirl8

@heartofzinc Argh - so frustrating for you. Similar issues crashed our chain & our sellers took their house off market at exchange. We could have extended our mortgage offer for a month maximum (that does depend on the lender though). We had to refinance, cos the market had changed so much and we have had to find a new property. You probably would need a new mortgage offer if it looks likely to go much beyond your original deadline. Our lender's products hadn't changed much if that's any comfort, so that part of the process was straightforward. Probably worth keeping an eye on properties coming onto market if you think your sellers might get cold feet. Good luck!

heartofzinc

birdmadgirl8 said:

@heartofzinc Argh - so frustrating for you. Similar issues crashed our chain & our sellers took their house off market at exchange. We could have extended our mortgage offer for a month maximum (that does depend on the lender though). We had to refinance, cos the market had changed so much and we have had to find a new property. You probably would need a new mortgage offer if it looks likely to go much beyond your original deadline. Our lender's products hadn't changed much if that's any comfort, so that part of the process was straightforward. Probably worth keeping an eye on properties coming onto market if you think your sellers might get cold feet. Good luck!

Thank you! Guess it all depends on how long it takes them to find something else. Apparently they’re still desperate to move, they have a little boy and newborn baby so I do really feel for them with what’s happened as they were packed up ready to go 😟 They did view another properly with no chain the other day but didn’t like it, so just hope they find something else soon! 

stressedout45

rakoczigabi said:

I’ve  exchanged, finally  

Spoke with my solicitor this morning at 9am before I went to work and gave authority to exchange ( again ). 

Had a look on my phone at 4pm on my lunch break and seen that it’s all gone through. 

Moving day is on the 21st. 

Good luck everyone , it will be worth it. 

Congrats! 

( Ps: you had to wait until 4pm for your lunch break?!) 

stressedout45

Oh joy. Another week down with no exchange!  This time last week I said to myself surely we will have exchanged by now.. but no…  here we are.  It is amazing how these weeks just pass by.  This whole thing is agony! 

We have however, as of yesterday, now done a "conditional exchange" with the developer.. though this does not really mean anything major, it is more to keep the developer happy I believe.  Our sol reckons we will be in a position to exchange properly next week.  He said there is one outstanding enquiry whoch was raised last minute by our buyers sols, and he's already answered that.  We asked if the bottom of the chain is ready, and he said as 'far as he is aware' they are.  I found this to be a little bit of a frustrating reply but he explained that he doesn’t really get to know everything about what is going on at the bottom of the chain.  

Will update again when I have more news.  good luck to all of us expecting exchange very soon.  

Louise.H

So now aiming to complete Friday, feel like I'm stuck in Groundhog Day! Glad some people have made progress. Trying to pack in this heat is fun. 

Tiddleshalifax

Fingers crossed for a positive week!! 

flyingv

stressedout45 said:

Oh joy. Another week down with no exchange!  This time last week I said to myself surely we will have exchanged by now.. but no…  here we are.  It is amazing how these weeks just pass by.  This whole thing is agony! 

We have however, as of yesterday, now done a "conditional exchange" with the developer.. though this does not really mean anything major, it is more to keep the developer happy I believe.  Our sol reckons we will be in a position to exchange properly next week.  He said there is one outstanding enquiry whoch was raised last minute by our buyers sols, and he's already answered that.  We asked if the bottom of the chain is ready, and he said as 'far as he is aware' they are.  I found this to be a little bit of a frustrating reply but he explained that he doesn’t really get to know everything about what is going on at the bottom of the chain.  

Will update again when I have more news.  good luck to all of us expecting exchange very soon.  

BIB - really feel for you, this is exactly what is happening for me also.  The weeks just whizz by and yet we're seemingly standing still.  Fingers crossed this week brings both of us some luck, and to all others who are also still waiting.

Tiddleshalifax

Martian2035 said:

We've been waiting 65 days now (not that I'm counting) and last week we received this from our solicitors:

"We had raised enquiries on the 24 June, however for some reason the letter that we had sent was blank"

Imagine how un-amused I am.

65 days for what sorry? 

Yes that doesn’t sound fun. Solicitors can be great or terrible… there appears to be no in between 

misskismet

My completion and exchange date is now apparently the 30th of this month. Already passed the five month mark since offer accepted. It's been a rough ride so far, and as a single FTB I've felt very much on my own, with no idea as to what's normal/expected, other than asking online. 

My sellers have loads of debts secured on the property, which was kept hidden until as late as possible, and has caused even further delays. I am only 50% convinced that this is going to happen - almost ready to give up, but am aware that pulling out now would not only waste me thousands of pounds, but also put me back to square one, with nowhere to live. 

rose_T

Deposit getting sent over today for completion on Friday 🤞 don’t know if I should get excited yet! 

We are buying a off market property and the completion decided to come when we have booked 2 days away, there was no estate agent etc in our sale. I told my solicitor we would be driving home on the Friday and it’s about a 7hr drive so we may not be about to get the keys. She asked if anyone could collect for me and I have my husbands grandad who can collect. 

But the house we are buying is next door to his grandad and the vender knows him as he was brought up living next door to my husbands grandad so I told the solicitor that the vender could drop the keys off to him. 

I don’t know how the key collection works and not sure what I have suggested is allowed? 

I don’t care that we won’t be here and happy for them to be collected/dropped off cause I know that’s it