The NEW waiting to exchange thread...

Cookie211

baileykxo said:

So both us and our vendors solicitors have everything sorted it’s the third and final party we are still bloody waiting on!!! They just said hopefully you will exchange and complete today!! I want a definitely 🥲 I really want to complete today, they wanted today and have known about it for weeks!! 

I really hope u get to complete today , good luck 🤞 why is everything so hard when buying a house, I really hope we both have the news we been waiting on 🤞🤞🤞

E_D_FTB

baileykxo said:

So both us and our vendors solicitors have everything sorted it’s the third and final party we are still bloody waiting on!!! They just said hopefully you will exchange and complete today!! I want a definitely 🥲 I really want to complete today, they wanted today and have known about it for weeks!! 

There seems to always be one particular party in the chain that causes problems! Fingers crossed for you - will be looking out yours and @cookie211's posts today in hopes of good news!

nekr0mantik

good luck all!
I am starting to feel like I wont complete by 31st September and miss the final stamp duty savings however small. 
this should been simple sale as no chain on either end and the flat is empty and 12 months old. Now vendor is waiting for managing agent who is not responsive to land registry requisition.
I did say to EA that if the seller not having his ducks in order before accepting offer causes delays beyond 31st then they can pay the extra stamp duty and she was saying should be ok as its not a lot of money but I think it will complicate matters if vendor sends money to my solicitor for stamp duty as mortgage may be affected. 

Elle83

Cookie211 said:

E_D_FTB said:

Cookie211 said:

When do u think I should email solicitor to see if sellers solicitor has received signed documents or should I leave it 🤯🤯 HELP don’t know what to do 

I don't think there's any harm in checking.

Just emailed 🤞🤞🤞

Everything crossed that it is good news for you today Cookie211! 

After feeling frustrated yesterday, our buyer text to say they had their offer and asked if 10th September was OK for completion. Immediately agreed and contacted our solicitor. Our solicitor has just emailed to say that the other side has agreed to 10th September completion. I have asked for a date for exchange but our solicitor said they haven't had a response to that yet. 

With our last purchase we weren't allowed to exchange and complete on the same day - something about monies from Santander needing 5 days to be drawn down. We are porting our existing mortgage and borrowing the extra with Santander, so I am guessing it will be the same. 

clare19811

clare19811 said:

clare19811 said:

We found out yesterday we're not going to make the stamp duty deadline as our seller's new build has been delayed. So that's an extra £2,500 which is a bit painful to swallow but we had budgeted for it just in case. We're now aiming to exchange early September with a completion date mid October. Their solicitor was asking for exchange with an open ended completion (at least I think that's what they meant), but we're not going to be tied in like with no end in sight, but it seems they're now happy to set a completion date around 14th October. 

I keep telling myself it will all work out and be worth it in the long run!

Our solicitor is back today after a week off and we had an email before 8am saying our sellers are happy to break the chain so that we can be in before the end of September. No idea what's caused the change of heart but I suspect they might have been told about a further delay with their new build.

I've emailed our solicitor back to find out when we can exchange on our sale so that we can propose some dates for exchange and completion in September. I'm really hoping for some positive movement this week. Have to say that our solicitor has been absolutely amazing all the way through. She replies to our emails within minutes, always answers her direct line and is really good at keeping things moving. Can't fault her at all.

It's such a roller coaster all of this! I'd gone from being in tears about the delay to accepting the extra cost and the October date, and now feeling hopeful we'll get in next month. It's hard to concentrate on anything else!

Cut to the beginning of this week and we're back to completion in October with no explanation as to why they keep chopping and changing their minds. So that's extra stamp duty for us.

It feels as though we're always the ones to bow down and accept what everyone else asks for with no room for movement when it's us that needs something. 

Yesterday, we thought we were ready to exchange, but then Nationwide asked for an extra search and said that they're considering the level of ground rent as they consider it high. The search came back within hours and was clear, so now we're just waiting for them to let us know whether they're still happy to lend with the ground rent. If they say no then I'm not sure what we're going to do. The ground rent is £300/year on a £300,000 house and increases every 10 years at RPI, Nationwide's website does suggest they may decline based on this but I struggle to understand all the jargon.

On our sale, we've given our buyer numerous deadlines for exchange and they've just been ignored. Our solicitor chased up again yesterday and their solicitor hasn't even reported to them yet. It's getting beyond a joke!

Part of me feels like just pulling the plug on the whole lot and starting over again, but I'm not sure my anxiety could take it.

Good luck to everyone hoping to complete today!

Cookie211

Can’t see us exchanging or completing as still haven’t heard anything ☹️☹️

AFF8879

AFF8879 said:

Finally exchanged contracts on selling my London flat today! I’ve been paranoid about the market crashing due to COVID and everyone apparently fleeing cities, though thankfully that doesn’t seem to have happened (at least not yet). We are only going to be working in the office 2/3 days a week going forward so I’m moving out to Hampshire to be closer to my family, staying with them for the time being whilst I look for a house to buy. Can’t wait to be out in the countryside in a freehold house with a GARDEN!!

After having an impossible time trying to even get viewings on decent houses around here, I reserved a new build… today is the deadline for exchange but I don’t think it’s going to happen, there’s still a couple of enquiries outstanding and I only received the final contract to sign last night. I got the report on title earlier in the week.

Apparently I lose all my incentives (flooring, lawn turfing) if we don’t exchange today… but when I raised it to the site sales team they seemed pretty nonchalant so I hope they don’t begrudge me a few extra days…

Monsternextdoor

@Cookie211

I was thinking about you this morning when I got out of bed, Hope you get a call soon !! 

@WorriedKirkels

Hopefully, just got to clean the property now ! and get rid of all the other persons furniture !

soplum

Hi all!

FTB and this is my story so far:
10th May: DIP with Halifax.
13th May: House advertised on RM. Viewed that evening.
14th May: Offer for full asking price and within the hour it was accepted.
14th May: We were told the vendors were looking for a no chain property so it may take a while to find a house they like.

23rd June: Vendors have completed the chain!
24th June: Solicitors instructed (also found out they're the same firm as the vendors!)
24th June: New DIP with Nationwide.
26th June (AM): Additional statements sent to mortgage advisor before full application.
26th June (PM): Full application submitted with Nationwide
28th June: Valuation booked for 12th July.
7th July: Valuation rebooked for 14th July.
14th July: 9pm Nationwide texts saying valuation report received and fill mortgage offer issued!
19th July: Homebuyers report completed.
23rd July: Homebuyers report received.
27th July: Searches begun.
11th August: Searches received as well as contract, mortgage deed and TR1 form to sign.
15th August: Contracts signed and given to solicitor. 
22nd August: Vendors have signed contract and replied to enquiries. 
24th August: Up to date proof of funds send to solicitor. 
24th August: Completion date of 10th September agreed.
24th August: Deposit and solicitor fees sent.
25th August: EXCHANGED!!! 

Cookie211

Monsternextdoor said:

@Cookie211

I was thinking about you this morning when I got out of bed, Hope you get a call soon !! 

@WorriedKirkels

Hopefully, just got to clean the property now ! and get rid of all the other persons furniture !

Thank u 🙏