The NEW waiting to exchange thread...

WorriedKirkels

@cheeky-peach - I do wish there was a clear order of process and time to house buying/selling. This is our third time and every time it has been different. I always get super stressed too, even tho I always say I won’t get too invested, I can’t help myself! Hopefully you will hear something soon x

Martian2035

cheeky-peach said:

WorriedKirkels said:

@cheeky-peach I think it depends on the type of enquiries and how quick the other solicitor is. We have only just sent ours off for our purchase as we’ve only just received the paperwork and it’s been a month to this point. How long is it since you sent off your enquiries? x

It was for enquiries received from our buyers sol to ours. They said they received them Friday but I'm not sure what the 'average' turn around is? From the sounds of it, our buyers sol has sent initial enquires whilst waiting for searches to come back but ours are waiting for searches before doing anything!

I've found it can vary massively.

For example, we had one enquiry which came to us which was "does any portion of the property have a flat roof?" which is a simple yes/no.

But elsewhere in the chain there are enquiries regarding legalities around finance secured against the property, and some indemnity insurance. Both of those enquiries are likely to take longer to complete.

In my experience, enquiries are often confirmations of known facts, so these are only limited by how busy the solicitor is and can be completed in a few days.

tomnookfan

misskismet said:

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. 

I am in a very similar position! Me and my partner made an offer on a house in April and still waiting on charges from the previous owner, not even the current one. The vendor said last week that it's going to be sorted in a week but trying not to get my hopes up. 

Our landlord has also given us notice as she's sold our flat so hoping for a miracle!! Rooting for your completion x

misskismet

The previous owner!! That's even worse than my situation. Such a mess. Fingers crossed for us both. 

MayMark

Louise.H said:

MayMark said:

Hi All, we are finally meant to be exchanging today!!!! After waiting such a long time for missing paperwork!! I haven’t yet heard from my solicitor, when you exchange do they actually let you know? I got told Friday eve we would be exchanging today. I don’t want to call and be annoying so will the solicitor actually let us know when it’s done?

You as the buyer need to give authority to exchange so they should ring you just before. Have you sent your deposit?

We gave authority Friday and don’t need to send deposit as we aren’t first time buyers/first in chain we are last in chain. I haven’t heard anything at all day so assume something didn’t happen today!

Boredfatman

Went and chased the estate agents today, fortunately local to where I work. Still no answer on what is happening at the top of the chain…I really want to exchange this week!
The people we are buying from are keen to get moved by the end of the month as they have time off…why can no one just sort it out?!
it is so frustrating when you feel powerless to influence anything. 

flyingv

At last I have an actual real live update.  The council have finally (after almost 10 weeks) calculated the amount of discount to be repaid.  This was the final thing outstanding so I'm really hoping I get some dates for exchange and completion very soon.

Very happy for those of you who have gone from offer accepted to exchange in 8/9 weeks, but also a bit jealous. 

WorriedKirkels

@flyingv how long has it taken for you? Really pleased you now having everything you need to progress to exchange/completion x

neydejean

After just under a month since case allocated my conveyancer has finally sent off initial enquiries...not that i was told, I found this out through the EA sales handler I am buying from. Not a problem as she is good at job and will no doubt get it done as quickly as possible.

After nearly 3 months (maybe more?) since offer accepted, my seller still doesn't have a mortgage. Doesn't fill with hope

WorriedKirkels

@neydejean - how do you know your seller doesn’t have a mortgage? 3 months is a long time, even in the current climate. Hope you get some answers soon! x