The NEW waiting to exchange thread...

Monsternextdoor

Ive just looked back at my emails ... Its only been a month since we first viewed and put the offer in on the property. 

So I genuinely shouldn't moan as we are nearly there.

Cookie211

WorriedKirkels said:

Cookie211 said:

Omg omg omg Friday for completion, I can’t believe it 🥳🥳 fingers crossed nothing goes wrong 

Wow 🤩 that’s amazing 😁 x

Can’t believe it but it all depends if we can get the deposit over to solicitors by tomorrow as we putting a big deposit down as a family member is gifting some, just hope they can get to the bank in time 🤯🤯 I’m not stressing Though lol 😆 x

cheeky-peach

Monsternextdoor said:

Ive just looked back at my emails ... Its only been a month since we first viewed and put the offer in on the property. 

So I genuinely shouldn't moan as we are nearly there.

Only one month? You lucky devil!

sacvwgolf

slightlyfoxd said:

An updated FTB timeline for reference:

Local sale, between FTB and mortgage-free seller who has purchased a vacant property. Not affected by Stamp Duty deadline.

2/8/21: Viewed property and put in an offer.
3/8/21: Offer accepted, property taken off the market. Appointment with mortgage broker (Embrace).
4/8/21: Solicitor appointed (Let's Move Conveyancing). Memorandum of sale issued by agent.
5/8/21: Mortgage applied for through broker (NatWest). Hard search on my credit file run same evening.
9/8/21: Solicitor sends draft contracts and paperwork.
11/8/21: NatWest valuation takes place.
12/8/21: Solicitor passes on my/their questions for the seller's solicitors.
18/8/21: Full mortgage offer received. Paperwork shows a small error in the address, so lender advised to update.
[PAUSED]
20/8/21: Previous bidder offers over the asking price, and seller gazumps me Everything put on hold. I agree to up my offer on the property to keep the sale moving.
21/8/21: Mortgage deed arrives through the post from my solicitor - now defunct as price has increased.
[RESUMED]
23/8/21: Seller accepts my increased offer and lender agrees. Other bidder still wants the property, but for now we crack on. Survey instructed through local surveyor, paid for and booked in to happen on 6/9/21.

Payments
Conveyancing deposit 4/8/21
Mortgage broker 7/8/21
Survey 23/8/21
Deposit
Disbursements
Legal fees
Removals

Things I've learned so far

• My deposit is in a LISA, which usually takes 30 days to withdraw. To avoid hold ups, I've asked my solicitor to advise me when the time is right to instruct payment. If we wait for exchange, it'll be at least 30 days until we can complete as you need the deposit in hand. Withdrawing before exchange is riskier, as the sale can fall through, but if it does you can arrange to have the deposit returned to your LISA account via your solicitor.
• No one talks to anyone, least of all you. Everyone tells you this is the case, but expect it to be true. You'll have to chase people after days or weeks of radio silence, and they will be audibly annoyed.
• Everyone is on holiday in August and no one has cover. Although my solicitor did, which was much appreciated.
• Gazumping sucks.

Thanks for the information regarding LISA...I hadn't realised it was that lengthy a process. I have now sent over the relevant forms to speed it up (we don't have a date yet). FYI the conveyancer can apply for an extension if you apply to withdraw before you've exchanged and don't complete within the allowable timeframe.

mortgage_noob

We're 4 months (FTB, no chain!) and and talking about dates now.  We've proposed 10th of Sep for completion and the vendor has said (via whatsapp) that this is fine but we're waiting for confirmation from solicitors. The EA has also said she'll do what she can to progress his onward purchase but all comms with the vendor indicate that he was expecting to move into interim accomodation if need be, rather than forming a chain..... fingers crossed that's still the case.

James-may

Spoke to solicitors today, who have said they are still awaiting sellers solicitors response for a query about shared drive, can't even get them on the phone.

[Deleted User]

Nothing from anybody here today so far

WorriedKirkels

mortgage_noob said:

We're 4 months (FTB, no chain!) and and talking about dates now.  We've proposed 10th of Sep for completion and the vendor has said (via whatsapp) that this is fine but we're waiting for confirmation from solicitors. The EA has also said she'll do what she can to progress his onward purchase but all comms with the vendor indicate that he was expecting to move into interim accomodation if need be, rather than forming a chain..... fingers crossed that's still the case.

Same date as we are hoping for and we are still waiting for our buyers solicitors to get to where we are 😬 Good luck to both of us 😁 x

WorriedKirkels

DeletedUser said:

Nothing from anybody here today so far

Maybe send them another chasing email and explain you need some updates or reassurances on where you are at in the process 😊 

Monsternextdoor

cheeky-peach said:

Monsternextdoor said:

Ive just looked back at my emails ... Its only been a month since we first viewed and put the offer in on the property. 

So I genuinely shouldn't moan as we are nearly there.

Only one month? You lucky devil!

Yup, its been a quick process with us but its a repossession with no chain involved.