The NEW waiting to exchange thread...

slightlyfoxd

slightlyfoxd said:

I'm FTB and flying solo here, so keen to add my own timeline to this thread for others! This forum has been an amazing source of information for me so far.

2 August: Viewed property and put in an offer.
3 August: Offer accepted, property taken off the market. Appointment with mortgage broker (Embrace).
4 August: Solicitor appointed (Let's Move). Memorandum of sale issued by agent.
5 August: Mortgage applied for through broker (NatWest). Hard search on my credit file run same evening.
9 August: Solicitor sends draft contracts and paperwork.
11 August: NatWest valuation takes place.
12 August: Solicitor passes on my/their questions for the seller's solicitors.
18 August: Full mortgage offer received. Paperwork shows a small error in the address, so am going back to have it corrected and make sure there are no issues. Survey instructed (local surveyor, date TBC).

My lease comes up for renewal on the flat I rent on 6 November. So I'm hoping to be able to give notice on 6 October and leave at the end of my contracted term. The seller is an elderly lady moving into a flat she's bought in an assisted living complex, and is keen to wrap it all up in pretty good time. Fingers crossed for a (relatively) smooth move!

Update from 20 August: I got gazumped by someone in a chain who placed an earlier offer and was originally rejected I can comfortably afford to match the higher offer, and as an FTB I'm hoping that's enough to put paid to this and crack on. But I'm checking with the lender before formalising as they'll need to sign off on the affordability/value.

I really love this place... it's the only available property in the ballpark of what I want in this area. I just hope this doesn't become a bidding war, because I'll of course pull out if the other buyer wants to pay more than the place is worth. Horrible feeling, innit?

tomnookfan

@slightlyfoxd that's awful, I hope it gets sorted without a bidding war. It's tough when you think you've found the perfect place  

WorriedKirkels

@slightlyfoxd - that is awful and I really feel for you. Do whatever you think is right for you but be careful that the vendor doesn’t try increasing the price again. I wouldn’t dream of doing that to my buyer but I guess it just goes to show that not everyone has the same standards and values! I hope you get it sorted and don’t end up in a bidding war x

WorriedKirkels

Cookie211 said:

Update from me, solicitors working on file and had an email saying she’s sending paperwork out for our signatures does this mean we coming to the end and can soon be ready to exchange  🤞🤞🤞

Usually means you are near the end 😁 We signed all of our paperwork last weekend so hoping the issues we are currently facing are just a blip 😬 x

richardwilson1984

Joining the party. 

Our flat sold in March and we waited ten weeks for the owners of a home we found (and loved) to find somewhere. When it became apparent they weren’t able to, we managed to find another, equally as fantastic home, with the bonus of being chain-free. 

That was eight weeks ago and for a period we were flying but since solicitor searches came back three weeks ago, and my solicitor raised enquiries, we’ve hit a brick wall. 

I’ve chased and my solicitor has chased, but we are seemingly stuck waiting for the council to give responses to the sellers solicitor. Is there anything we can do realistically other than contacting he estate agent and my solicitor contacting the sellers solicitor? 

Meanwhile the clock is ticking down on our deadline of beating the next SDLT deadline of the end of September - we already missed the first with the first sellers messing us about.

All the while, our buyers - an investor - is sitting waiting and no doubt growing increasingly frustrated at the six month drawn out process for them.

goodwithsaving

I have exchanged on both  At long last. I need to break the chain for a few days but at least it is all happening for certain now. Very relieved. It's daunting because it is a higher mortgage, but certainly a good move. Thank you for keeping me sane (I haven't gone yet so will be back!)
If anyone has sellers pull out, buyers pull out and have to jump through every hoop imaginable...it is possible....eventually

WorriedKirkels

goodwithsaving said:

I have exchanged on both  At long last. I need to break the chain for a few days but at least it is all happening for certain now. Very relieved. It's daunting because it is a higher mortgage, but certainly a good move. Thank you for keeping me sane (I haven't gone yet so will be back!)
If anyone has sellers pull out, buyers pull out and have to jump through every hoop imaginable...it is possible....eventually

Congratulations 🎉- fantastic news and so happy for you 😁 x

[Deleted User]

Mines just continual bad news
now we have to go back to parents for six weeks between sale of our and new one being ready 

Cookie211

goodwithsaving said:

I have exchanged on both  At long last. I need to break the chain for a few days but at least it is all happening for certain now. Very relieved. It's daunting because it is a higher mortgage, but certainly a good move. Thank you for keeping me sane (I haven't gone yet so will be back!)
If anyone has sellers pull out, buyers pull out and have to jump through every hoop imaginable...it is possible....eventually

Fantastic congratulations 🎉 

Cookie211

DeletedUser said:

Mines just continual bad news
now we have to go back to parents for six weeks between sale of our and new one being ready 

Oh no hope your luck turns around soon