The NEW waiting to exchange thread...

WorriedKirkels

ss2020jd said:

WorriedKirkels said:

goodwithsaving said:

I was hoping to hear today about my buyers mortgage - it was valued using an AVM hence the worry. It's my second buyer, the first one pulled out after their (much higher sale price) mortgage offer was issued (not SDLT related and it was valued in-person). I feel really low. The not knowing, lack of control, the stress....it's horrible. 

I know that feeling! Last night I told my EA via email to remarket our property as it was week 6 since offer accepted and no survey/valuation/ conveyancing had commenced! They told me not to worry in a text at 10pm and by lunch today my
buyer had their mortgage offer. Totally different this time around selling due to COVID as we had a virtual valuation (glad I didn’t know as I would have stressed over how you can value a property without seeing it)! The EA hasn’t said there are any issues with it and that our buyers are committing to the early/mid September I want to complete by….so hoping we hit that date 😬 x

Wow that got them going! Well done @WorriedKirkels. But six weeks no survey or anything is completely bonkers. We instructed ours as soon as we got the memo (but of course that was after we exchanged and before all the issues with completion but I would still want to show willing and show we are committed and serious).

I hope things start moving for you now and keep moving! xx

I know, such a relief! Let’s hope we will all be getting the news we so want to hear in the coming weeks. Really finding this thread helpful in easing my worries x

EndlessStruggle

Lewistr11 said:

We got lucky in that the tenants were looking to buy anyway so came to a mutual agreement with the seller, who was already thinking about selling up and using the equity to do up a larger property they inherited. It hasn't been without pitfalls though - the tenants have been very picky in terms of dates we were able to book surveys in for which pushed everything back a few weeks waiting for availability to match. The cheeky thing is, the tenants then went and asked our surveyor on site if they could use him for their purchase and he managed to fit them in the next day! 

Yes, we managed to get ours for asking which was a fair price (2 identical houses in same street sold in 2019 for only 5% less and they were in worse condition), I think the tenants and the long wait definitely put a few people off, but we are currently renting 5 mins down the road so weren't too fussed about waiting. 

Advice I would give is just to keep checking in with estate agent regarding tenants and their planned movements - it will get there eventually and the positive is that (if the seller is a decent landlord) most of the essentials (gas, electric) should all be up to date and serviced if they're renting the property out.

Oh lucky. Mine had been promised a long term tenancy and don't want to leave at all.

I don't blame them for their behaviour but at the same time it is always a risk with renting.

They've been given permission by seller to make a lot of changes to the property over the years and have renovated the whole place pretty much. 

They have also been really restrictive so far on setting times for viewings so I expect they will be the same for the surveys etc.

I think mine will likely be looking for another rental and rental market is very competitive here at the moment.

It is super awkward and am sure it will continue but the house is perfect so worth a longer wait than others.

I've viewed others and thought well this could do for a little while but this one I thought I could stay here for life, it had a good vibe.

I'm not going to give my notice in here at my rental until I have the keys so I can do a slow move and decorate over the month so I'm happy enough.

I'm also about 5 minutes away from the house too.

I've got mortgage application on Monday and I expect the legal instruction paperwork will come through then so we are getting the ball rolling.

He expects my application to be back quite quickly as I'm borrowing way under my limit if that makes sense. 

I expect we will be finished with everything in terms of having mortgage and survey and all the legal bits and bobs done way in advance of an exchange date.

I'm also going to ask for one last viewing after they leave and before exchange to make sure they haven't done anything vindictive on the way out as I like to think the best of people but also I know that people can be ***********s lol 

davilown

ss2020jd said:

davilown said:

So having completed on our sale on 30th June, we offered on a property the week before.
Hoping to complete by 6th August (cash sale) and be living in our own place a again 

Wow congratulations @davilown. Gives the rest of us hope. Please keep us posted on how it goes and when you get there. 

Thanks for the kind words - I will let you know once exchanged!
Good luck with your sale as well!

E_D_FTB

Oscarboi76 said:

E_D_FTB said:

Hi all, have been catching up on the recent posts and thought it was time to jump in myself. 

My partner and I are FTB in a 4 party chain. Our offer was accepted on 12/06. Put in our mortgage application on 14th, and then it went very quiet for 5 weeks. Then this week we've had our survey carried out and report returned, mortgage offer issued, and first of the solicitors reports back including searches! 

It's been so stressful already and we're only on week 6. After seeing everyone else's experiences on here, I'm realising we're doing pretty well! We're currently pushing for 20th Aug aimed completion as we're renting and our AST ends on 31 August. Fingers crossed everything can progress quickly - we're the second buyers on our future home, so hopefully any issues further up the chain have been resolved.

Good luck to everyone on here - hope you can all have a somewhat relaxing weekend before the stress starts all over again on Monday!

good luck with your move... we seem to be at same stage to you, we also put offer in on house on 12/06 and put mortgage application in on 14/06... our mortgage was approved 9 days later but then all quiet, our searches came back this week and draft contracts being prepared so now just a waiting game again... when are you hoping to exchange by  please ? 

We'd like to have about 1 week between exchange and completion, so by mid-Aug ideally - but the top of the chain is now being every non-committal about setting out s timeline to aim for, so God knows. Just gonna keep pushing things forward with our purchase and exchange as early as possible and see where we end up.

FirstTimePlx

Hello everyone;

My mortgage offer has been produced. Just waiting for the conveyancers to receive the sellers contract package, local searches and then next steps forward. I am also a First Time Buyer; so extremely nervous and decided to do it all without a broker for my worries ! hah

rose_T

Really hoping we have good news this week! 

In my previous post it was about we were due to complete Friday 23rd but my solicitor found out that the previous owner who has passed away around 3-4yrs ago never discharged her mortgage after paying the final payment. 

The executors there is 4 their solicitor offered a title indemnity policy to cover the charge but this will not help us down the line to get that old mortgage discharged. 

So we have taken our solicitors advice and are pushing for them to remove the charge. 

Without this removed in future we would struggle to sell or remortgage the property. 

I don’t know if they have tried to remove this or their solicitor was hoping for a easy time by offering the indemnity policy. My other worry is do they have enough paperwork to provide proof? I believe this mortgage has been paid off for years now and the bank TSB my not hold any record of this mortgage and it will take months to sort! 

I don’t mind waiting as we have waited a year to this point for the property it took 9mths for confirmation to be granted. I just wish they were up front and actually tell me exactly what’s happening so I know where to stand and am happy to wait, but this limbo period where you are waiting every day Monday- Friday for a call or email is driving us mad. Plus our car’s PCP is finishing on the 15th August and we wanted to trade it in but we don’t want to open a new credit account until the funds are released and the sale is done and dusted. 

So now we have a 5k balloon payment to make on the car to close that account we have also paid 16k deposit to solicitor and have really nothing to show for it. 

Spreading some key 🔑 dust to everyone this week

good luck! 

WorriedKirkels

@rose_T - I really feel for you! We had something similar last time we moved and it took about 2 weeks but slightly different circumstances as the vendors wife had passed away. Fingers crossed 🤞 it gets sort quickly x

Louise.H

We completed Friday, there was some doubt if we would but whilst pulled over at the services we got the news!

Absolutely love our new house and country (Wales). I'm sorry to hear some people are really struggling, hope it gets resolved without too much stress. I'm sure I have more grey hairs after our hopeless solicitors antics. Now to unpack more boxes.

rose_T

WorriedKirkels said:

@rose_T - I really feel for you! We had something similar last time we moved and it took about 2 weeks but slightly different circumstances as the vendors wife had passed away. Fingers crossed 🤞 it gets sort quickly x

Thanks 😊 not going to lie it is disheartening, but hopefully it moves as quickly as your one x

ss2020jd

@rose_T The limbo is the worst. Sorry to hear what you’ve had to go through but hope it gets sorted soon. I love the idea of magic key dust spreading to all on this thread! 

Congratulations @Louise.H that is brilliant news. Giving me some hope that our second attempt at completion will happen this week. Enjoy the fun part and good luck with the unpacking.