The NEW waiting to exchange thread...

E_D_FTB

baileykxo said:

Cookie211 said:

Omg how long have I got to wait, it’s been 3 hours since my solicitor transferred funds to sellers solicitor, anyone know or is it just a waiting game, don’t want to email my solicitor as she said she will let me know when it’s all done, but what if she’s forgotten about me lol 

She won’t have forgotten don’t worry! Give it till around 3/3:30 then message if you haven’t heard anything. It does take ages to transfer sometimes, don’t worry to much!! 

Absolutely - hang in there!

Cookie211

Just had a call from EA to come and get the keys 🔑 🥳🥳🥳 so happy 😁 

jackhjones

Have been advised enquiries have been received from the sellers and everything should be over to me next week as solicitor is off next week. And they are hopeful for an exchange the week after  

baileykxo

Cookie211 said:

Just had a call from EA to come and get the keys 🔑 🥳🥳🥳 so happy 😁 

Omg congratz!! Finally!! So happy for you, enjoy your new home!! X 

E_D_FTB

Cookie211 said:

Just had a call from EA to come and get the keys 🔑 🥳🥳🥳 so happy 😁 

Hell yeah! So glad you've finally got there. Enjoy your new home!

Homebuyer1973

Nearly three weeks on we are still waiting for the valuer to make notes on the indemnity policy on the property we are selling. Every man and his dog has tried to get this escalated but to know avail. Last Wednesday we were told that it hadn’t even been looked at yet. The waiting is killing us. My husband and I are totally stressed out by all this, unlike any other house sale we’ve experienced before. Without a nod from the right person from the lender our buyers will not be able to exchange or complete. This would be a massive blow to our plans going forward. 

Homebuyer1973

Cookie211 said:

Just had a call from EA to come and get the keys 🔑 🥳🥳🥳 so happy 😁 

Congratulations 👏🏻 

nekr0mantik

Cookie211 said:

nekr0mantik said:

So the down valuation was 50k!!! This is seriously wrong!
my broker said chance of appeal with barclays is very low even if you show them 3 property in same area similar that sold for similar price. I very much doubt the seller would take a loss and much rather wait for cash buyer.
EA not calling me back and always line buys so not spoken to them yet.

the property is 12 months old and the price I agreed to was the price they were selling at in 2019 direct from developer so maybe its 10k more then its worth but I would not say 50k! I suspect they used a radius of areas near why where property prices are much lower as this is in Canary Wharfs new estate thats only 12 months old but its near Poplar so they probably used prices over there.

Wow £50000, would u know if it was a physical valuation or desktop, if desktop u can ask them to do a physical one 

It was physical but they put down zero for value after valuation until we sent them the CML. Which makes me think they are not valuing it properly as thats normally done if its a new build thats still not been completed and they need to find out developers incentives. While I am not purchasing from developer. 

nekr0mantik

JCarmello said:

nekr0mantik said:

So the down valuation was 50k!!! This is seriously wrong!
my broker said chance of appeal with barclays is very low even if you show them 3 property in same area similar that sold for similar price. I very much doubt the seller would take a loss and much rather wait for cash buyer.
EA not calling me back and always line buys so not spoken to them yet.

the property is 12 months old and the price I agreed to was the price they were selling at in 2019 direct from developer so maybe its 10k more then its worth but I would not say 50k! I suspect they used a radius of areas near why where property prices are much lower as this is in Canary Wharfs new estate thats only 12 months old but its near Poplar so they probably used prices over there.

Ouch - sorry to hear that. The similar properties - are they in the same development? Has the broker advised if going to another bank might yield a better result for you?
Is there a reason the seller is selling 12 months after buying?

Yup the properties were in same development. However the price depends on layout/size and floor level. As in the building you can get studio apartments that are larger then the smallest 1 beds oddly so prices even per floor vary by £50 to 100k as you can get studio to 3 bed in same level but one floor up studio is 5k more then it was floor below. 

Broker not mentioned going to different lender but I worry about getting 2nd hard search on credit score.

Seller is international investor who bought it as contract re assignment and another property which is rented so they want to make some money due to pandemic. 

WorriedKirkels

Cookie211 said:

Just had a call from EA to come and get the keys 🔑 🥳🥳🥳 so happy 😁 

Yay, all the stress was worth it in the end 😁 🔑 🏡 x