The NEW waiting to exchange thread...

kilby_007

We're supposed to be exchanging and completing today (Friday)!!! Fingers crossed!

happytails

Nipping in to read up on all your progress & ask a random question. How many days did you leave from viewing/2nd viewing to making an offer? And why?

Our last buyer offered same day but it fell through, this other guy viewed Monday with his dad (2nd view) but no feedback or offer yet - he seemed really keen.

Cheery_Daff

happytails wrote: »

Nipping in to read up on all your progress & ask a random question. How many days did you leave from viewing/2nd viewing to making an offer? And why?

Our last buyer offered same day but it fell through, this other guy viewed Monday with his dad (2nd view) but no feedback or offer yet - he seemed really keen.

We've offered on three houses in the last few months:

(1) offered in person at second viewing (a week after first). Withdrew after about 3 weeks (it was still on the market as we hadn't sold ours)
(2) viewed (first time) on Saturday, offered Monday morning - they rejected after about a week and a half of dithering
(3) viewed Saturday, offered Wednesday morning. I'd booked the week off work so we had several other viewings booked. There's land attached so we needed to check out likely restrictions on use etc, and wanted to talk to a few people we know about living far more rurally than we're used to. It's also right at the top of budget, so we had to do a few calculations to check exactly what we'd be able to afford considering the distance, lack of mains gas etc. First offer rejected, second accepted Wednesday afternoon :applause:

I've always answered calls from estate agents and given feedback though.

Good luck, hopefully he's just doing his calculations and will come back to you

Rusty_Shackleton

Late May - viewing, first offer (declined), decide to wait and see what else comes on market, see if owners will budge when they don't get the price they're after (on market for a year, 3 EA's... just their price far too high for the area, planning to wait for reality to sink in)
2/6 - Asking price slashed, EA tells us they've found a place they love and want to get going
3/6 - Offer accepted
5/6 - Solicitors appointed while on way to airport, got the ball rolling while on holiday!
9/6 - Mortgage application submitted to Nationwide
12/6 - Home Buyers Inspection and valuation booked
14/6 - Inspections done and summary by phone from surveyor
17/6 - full report received in post
23/6 - mortgage offer issued. Our solicitors receive contract documentation from vendors solicitors. Our solicitor writes back with queries.
26/6 - 10/7 - our solicitor goes on holiday fortunately our solicitor is on the ball, and so are her colleagues who cover - communication is spot on, actions followed up etc.
12/7 - Solicitor receives mortgage offer, chases vendors solicitor for reply to letter dated 23/6.
17/7 - still chasing their solicitors, our solicitor suggests putting forward completion date of 4/8
20/7 - Confirmation of gifted funds sent to Nationwide. Chasing vendors solicitors, again. Our solicitor also chasing EA, I follow up with EA.
22/7 - close our HTB ISA's. Heads up: Nationwide will print completion statements in branch, HSBC will only send by post (3-5 working days)
25/7 - EA confirms she is also chasing vendors solicitors for answers.
27/7 - Vendors solicitor finally accepts a phone call from our solicitor. Says he will send answers to queries following morning latest. Also admits he's only just sent queries for the vendors on their new house (which is empty)
28/7 - Midday, still no answers. Solicitor chases. Now it'll be before 5pm. Still nothing at 5pm.
1/8 - Vendors go into EA demanding answers whats going on as the national-chain EA also own the vendors solicitors! Turns out the vendors haven't even seen the queries sent by our solicitors 5 weeks previously, and end up answering in the EA's there and then.
3/8 - Written response to queries received
4/8 - receive written final report from our solicitors
7/8 - Vendors Building Regulation Indemnity Insurance Policy sorted and all paperwork (finally) sorted. Our solicitor has put forward completion date of 21/8.
11/8 - still waiting on response to proposed completion date :mad:

.... and the above situation is exactly why I was happy to pay around £300 more for a local solicitors (who have been excellent) as opposed than these online conveyancing firms. We also passed up a £1000 "incentive" offered by the EA's if we used them for a mortgage and for conveyancing... the same solicitors our poor vendors are suffering! Don't cheap out on your solicitors/use anyone who's not actually independent!

gax23

I won't post a full timeline of our move so far, as it involves 3 separate buyers on our house, a heavily delayed new-build, legal action being taken against our initial estate agent and the involvement of the BBC, Property Ombudsman and Trading Standards.

All I can say is fingers crossed...

gax23

happytails wrote: »

Nipping in to read up on all your progress & ask a random question. How many days did you leave from viewing/2nd viewing to making an offer? And why?

Our last buyer offered same day but it fell through, this other guy viewed Monday with his dad (2nd view) but no feedback or offer yet - he seemed really keen.

We viewed on Friday, 2nd viewing Saturday, offered on Monday.

We're on our third buyer. The first had a second viewing a week and a bit after the first, dithering all the way and finally offered nearly 2 weeks after initial viewing. That collapsed when we found out the estate agent had broken the law during negotiations. The second buyer viewed one evening, made an offer on the dot of 9am next morning via the estate agent (they told us during the viewing they were going to put in an offer). That then fell through within 24 hours when they discovered they couldn't afford it :mad: Third buyer came to view on a Saturday morning, then silence for a week until she wanted a second viewing on the next Friday at lunchtime. Within two hours we've got an offer, which she tells us we need to decide on within 20 minutes.

So you could say it's been varied.

User1312

Rusty - have you exchanged? How long after receiving your solicitor's final report can you exchange? We need to exchange by next Friday due to how our rental period falls, but we're not receiving the written report and contracts till 'sometime next week'. I'm hoping it doesn't have to be done more in advance for us to still exchange end of next week!

LadyL2013

Well Purplebricks have an incompetent bunch of so and sos and put a massive spanner in the works for exchange today....

Fionamarie1988

Hi 🙂 I've only just signed up as I keep reading others posts on questions about a mortgage. So I apologise for jumping onto this thread it was the first that came up. I hope you don't mind ☺

Myself & partner are in the process of buying a house (first time buyers) we had made an offer of £69.000 and it was accepted. We had our own survey done an it brought up high damp meter readings, we arnt to concerned in reguard to that but informed the vendors estate agent who spoke with the vendors an they said as a good will gesture they would knock off £500 (we didn't ask for this or ask for any conditions) we are just waiting for our mortgage offer to come through shouldn't be long now but that was done as £63.000 Mortgage with our £6.000 deposit. Do we need to go back to our lender with this new offer now?? They valued the property at the £69.000 purchase price ( our lender has said to us if they were taking £500 off try get them to withhold it at the end of sale) but received a letter this morning from the estate agent saying they had sent out the revised offer to the solicitors. So I'm not sure what I need to do now....
Any help would be greatly appreciated! 🙂

Rusty_Shackleton

User1312 wrote: »

Rusty - have you exchanged? How long after receiving your solicitor's final report can you exchange? We need to exchange by next Friday due to how our rental period falls, but we're not receiving the written report and contracts till 'sometime next week'. I'm hoping it doesn't have to be done more in advance for us to still exchange end of next week!

We've not exchanged contracts yet - I think both parties need to have agreed a completion date to do so, but not 100% sure. Presumably it doesn't take long between exchange and completion as our solicitor is putting forward week of 21/8, and has only mentioned needing 5 working days to draw down mortgage funds.