The NEW waiting to exchange thread...

baileykxo

2 days left until completion! And still no news on exchanging! Sent over the final amount to the solicitors and everything is ready for Friday but, not having exchanged yet is making me super nervous!! Goodluck everyone and happy Wednesday!! 

baileykxo

[Deleted User] said:

Starting to sweat big time.  Completion agreed for 27th Friday.  We are the only link in a three property chain.  No issue with our vendor as he has already moved out.  Our buyer or their SOL has not exchanged in spite of requests stretching over 2 weeks now since completion date was agreed.  The latest being the revelation that the buyer has not transferred the balance of funds required for purchase.  With just over 48 hours to go why has the buyers SOL not ensured that their client has not transferred the balance of funds required from his bank account sooner?  The mortgage taken out for part of the purchase price will be drawn on the 27th supposedly.  So we are staring down the barrel at exchange and completion happening on the same day and hoping that his building society is efficient in transferring the remainder of the funds that are needed quickly.  Grrr.

Good luck!! This sounds exactly like me but we don’t have a clue what’s going on with the vendors solicitors. Last I heard was they had handed in final paper work etc and were hoping to exchange Monday/tuesday which clearly hasn’t happened yet. No contact either 🤦🏼‍♀️

slightlyfoxd

Eek, good luck everyone, my fingers are crossed for you!!

I caught up with my solicitor yesterday on everything, and got a really comprehensive behind-the-scenes update, with useful dates and next steps, and actions she took away and completed the same afternoon.

I really rate them so far and they're keeping things moving fast (e.g. sent out my mortgage deed paperwork the same day we got my offer last week). Also, when you call the numbers on email signatures, it's the person's actual direct line and they pick right up.

I know everyone here is most likely all sorted with their solicitors, but for newbies stalking this thread (like I was) this is a recommendation for Let's Move Conveyancing! They're Leeds-based but I'm not and they work nationwide.

We're due the last search back on 6 September, which is the same date as the survey. So, not expecting major progress until then. I live in major fear of another gazumping as the other potential buyer is so keen and I've been burned. But nothing I can do but keep things moving and hope.

Cookie211

baileykxo said:

2 days left until completion! And still no news on exchanging! Sent over the final amount to the solicitors and everything is ready for Friday but, not having exchanged yet is making me super nervous!! Goodluck everyone and happy Wednesday!! 

Have u emailed your solicitor to ask when u are exchanging as I don’t think we have yet but are supposed to be completing Friday 🤔

fusedhyperion

Sorry newbie to the forum so bear with me!

April 1st 2021 - Accepted offer to sell current property
April 7th 2021 - Offer Put Forward for Onward Purchase (£5k over asking)
April 8th 2021 - Offer Accepted for Onward Purchase
April 13th 2021 - Solicitor Appointed, Memo of Sale
April 14th 2021 - Vendors complete the chain
April 16th 2021 - Mortgage Application Submitted
April 30th 2021 - Mortgage Formally Offered
May 18th 2021 - Searches back and Queries Submitted
May 26th 2021 - Vendors pull out of their Onward Purchase (Commit to go into Rented)
June 14th 2021 - Ultimatum from our Buyers to complete before 30th June (no update from our vendors)
June 21st 2021 - Exchange on our Sale Only (no update from our vendors)
June 28th 2021 - Completion on our Sale (no update from our vendors)

2 months later, here we are no further forward! Have now been through another 10+ viewings and fffered on a different property last week, 10k over asking but still rejected due to cash buyers...

heartofzinc

baileykxo said:

2 days left until completion! And still no news on exchanging! Sent over the final amount to the solicitors and everything is ready for Friday but, not having exchanged yet is making me super nervous!! Goodluck everyone and happy Wednesday!! 

My solicitor never gave me a date to exchange just a completion one. The plan was to exchange the day before completion but you can do it on the actual day too.

E_D_FTB

heartofzinc said:

baileykxo said:

2 days left until completion! And still no news on exchanging! Sent over the final amount to the solicitors and everything is ready for Friday but, not having exchanged yet is making me super nervous!! Goodluck everyone and happy Wednesday!! 

My solicitor never gave me a date to exchange just a completion one. The plan was to exchange the day before completion but you can do it on the actual day too.

God, I would hate that! For me exchange feels like the more important date to have nailed down, as that's the point where everyone is legally committed to the sale. I would not cope well with just having a completion date and hoping I'd get a call at some point before saying we had exchanged.

baileykxo

heartofzinc said:

baileykxo said:

2 days left until completion! And still no news on exchanging! Sent over the final amount to the solicitors and everything is ready for Friday but, not having exchanged yet is making me super nervous!! Goodluck everyone and happy Wednesday!! 

My solicitor never gave me a date to exchange just a completion one. The plan was to exchange the day before completion but you can do it on the actual day too.

Yeah, I know that you can but it’s just nerve racking especially as we aren’t here either for completion. 

heartofzinc

E_D_FTB said:

heartofzinc said:

baileykxo said:

2 days left until completion! And still no news on exchanging! Sent over the final amount to the solicitors and everything is ready for Friday but, not having exchanged yet is making me super nervous!! Goodluck everyone and happy Wednesday!! 

My solicitor never gave me a date to exchange just a completion one. The plan was to exchange the day before completion but you can do it on the actual day too.

God, I would hate that! For me exchange feels like the more important date to have nailed down, as that's the point where everyone is legally committed to the sale. I would not cope well with just having a completion date and hoping I'd get a call at some point before saying we had exchanged.

Exactly! It was frustrating because the day of exchange someone in the chain pulled out. They should really have told me when we were exchanging as your home insurance needs to be from that date! So I had to change that last minute too 😂

baileykxo

Cookie211 said:

baileykxo said:

2 days left until completion! And still no news on exchanging! Sent over the final amount to the solicitors and everything is ready for Friday but, not having exchanged yet is making me super nervous!! Goodluck everyone and happy Wednesday!! 

Have u emailed your solicitor to ask when u are exchanging as I don’t think we have yet but are supposed to be completing Friday 🤔

Yes! They either ignore me or tell me they are waiting for the vendors solicitors to contact them. I’ve tried to go via the Ea but they haven’t helped since they said the vendors said they were told we would have exchanged by yesterday. So I’ve tried calling and magically he’s done a runner 😂😂 such a nightmare!!