The NEW waiting to exchange thread...

E_D_FTB

heartofzinc said:

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 😂

Gosh, what a nightmare! At least you can laugh about it now!

WorriedKirkels

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!! 

Good luck 🤞 x

JCarmello

fusedhyperion said:

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...

So their commitment to move into rented has now disappeared? So frustrating...

cheeky-peach

So I think I said the other day, our sale is now 'ready'. Both my solicitor and the EA's progression team have chased our onward purchaser's solicitor as we sent enquires rough 10 days ago now and are waiting on a response. I think the EA's progression team just fires off an e-mail and hopes for the best. Any ideas anyone??

WorriedKirkels

fusedhyperion said:

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...

Welcome and that sounds like a nightmare 😱- I hope you get some positive news soon 🙏x

WorriedKirkels

cheeky-peach said:

So I think I said the other day, our sale is now 'ready'. Both my solicitor and the EA's progression team have chased our onward purchaser's solicitor as we sent enquires rough 10 days ago now and are waiting on a response. I think the EA's progression team just fires off an e-mail and hopes for the best. Any ideas anyone??

Sounds like our situation but with our sale (or rather our buyers) not being ready! Everything sent back over a month ago and no movement from them 😠 x

fusedhyperion

WorriedKirkels said:

fusedhyperion said:

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...

Welcome and that sounds like a nightmare 😱- I hope you get some positive news soon 🙏x

Thanks! To make matters worse, we moved in with my partners parents and she's now flat out with a broken ankle so really feeling the stress. Trying now to get in touch directly with the vendors to move things along as EA has been poor at communicating - get the sense that vendors are looking for their "dream" rental property rather than taking a short term pragmatic option.

House_owner

cheeky-peach said:

So I think I said the other day, our sale is now 'ready'. Both my solicitor and the EA's progression team have chased our onward purchaser's solicitor as we sent enquires rough 10 days ago now and are waiting on a response. I think the EA's progression team just fires off an e-mail and hopes for the best. Any ideas anyone??

Sorry, no ideas, but sympathies as I am in the same situation, just waiting for sellers solicitors to answer enquires!

slightlyfoxd

Lord, nothing's ever easy is it? Because I was gazumped and the price increased on the property, my old mortgage offer is obvs defunct and not as easy a fix as my broker assured me on Monday.

I can now either:

• stump up the extra ££££s on the property myself (not possible without borrowing)
• pay £££s for a new valuation on the property with NatWest, or
• pay ££s to start all over again with a new lender and reset the clock.

Given that my best chance of keeping the property is by being a speedy FTB, I'm tempted to opt for a new valuation to keep things moving. Of course if I get gazumped again now, that's yet more money I'll never get back...

The lender has offered to appeal the new valuation as the price hasn't hiked that much, which takes 5 days. So I have until then to decide what to do. Too early for a gin and tonic?

nebula18

Today is the day for exchange and completion on our sale and purchase. We were asked for authority to exchange at 8am, and haven't heard anything else since. I'm feeling very nervous. Van is all packed and waiting!