The NEW waiting to exchange thread...

neydejean

WorriedKirkels said:

Argh 😠 I am so fed up now! So the bottom of the chain haven’t got their funds across and will ‘pop’ into their solicitors tomorrow to drop their signed forms off….so we may be able to exchange tomorrow afternoon but not likely!!!

So looks like exchange is likely to happen the day before we are supposed to complete. This last stretch is definitely tested by my anxiety levels 😕 😬 🤯🙏

'Glad' we are still in the same boat. Estate agents and conveyancers keep saying they're 'confident' we can still complete on Friday but I've lost faith in that. The bottom of the chain is allegedly 'on top of it' re: getting deposit money to his conveyancer but clearly not as he was asked to give them Friday.

I think the thing I'm most annoyed about is that they're pushing it to the line and I'll probably lose the £250 van hire. If they were to say to me today 'we can't do this Friday, is next week OK?' I'd be annoyed but at least I'd know where I stand

mortgage_noob

No exchange yet for completion on the tenth. Our solicitor claims she's waiting for info from the seller but we called the EA and she told them that she's waiting for us to transfer the funds. A total lie. 

She hasn't asked us for funds despite us asking multiple times to confirm the bank details and amount, that the HTB ISA was in place etc. Just another case of her passing the blame onto someone else when the reality is that she's the hold up

mat1964

mat1964 said:

all of a sudden out of nowhere, my GF's buyers (who have been told the sale is off) have said they want to complete on Monday.  So for the sake of a few days, we will incur £17,600 or early repayment fees and stamp duty - both of which would have been avoided had they not messed us around so much.

Our solicitor doubts very much that it will complete on Monday as it would require same day exchange and completion and the inept buyers solicitor has not even requested the mortgage funds yet.  

Half tempted to tell them where to get off.  Very frustrating. 

And so it goes on.  Buyers and their solicitor confirmed they wanted to exchange/complete yesterday.  Mortgage funds (50%) turned up at our solicitor - but not the other 50%.  Buyers 'apparently' had sent it to their solicitor - their solicitor said it had not arrived. 

So on to today.  Estate Agents spoke to buyers who said they were never asked to send the funds yesterday by their solicitor (!) but would do so.  Still didn't turn up.  Now we are told the bank made a mistake with the account details but that has been corrected.  In the meantime, the assistant to the buyers solicitor (the main one is off today) told our solicitor the funds would be arriving from Hong Kong (which may have originally been the case, but they have been here for a while on the insistence of the mortgage provider).

And a few moments ago our solicitor has informed us that in 45 minutes they are sending the mortgage funds back to the bank as we have not completed within 2 days and thus they are required to return the funds. So if the buyers funds arrive after 15:30, the mortgage funds will be gone.   It is a total shambles.

The only positive thing from all this is that we were right not to be relying on this sale for our purchase as it would have been a disaster.  At least we're in our new home.

WorriedKirkels

@E_D_FTB @scottie21 thanks both and I know you’re right it will happen but it’s the stress /uncertainty you have to deal with everyday. Going to be positive and focus on exchanging Thursday and if they pull it out of the bag tomorrow it will just be a bonus 😊 🙏 x

WorriedKirkels

neydejean said:

WorriedKirkels said:

Argh 😠 I am so fed up now! So the bottom of the chain haven’t got their funds across and will ‘pop’ into their solicitors tomorrow to drop their signed forms off….so we may be able to exchange tomorrow afternoon but not likely!!!

So looks like exchange is likely to happen the day before we are supposed to complete. This last stretch is definitely tested by my anxiety levels 😕 😬 🤯🙏

'Glad' we are still in the same boat. Estate agents and conveyancers keep saying they're 'confident' we can still complete on Friday but I've lost faith in that. The bottom of the chain is allegedly 'on top of it' re: getting deposit money to his conveyancer but clearly not as he was asked to give them Friday.

I think the thing I'm most annoyed about is that they're pushing it to the line and I'll probably lose the £250 van hire. If they were to say to me today 'we can't do this Friday, is next week OK?' I'd be annoyed but at least I'd know where I stand

I’m ‘glad’ too and completely understand where you are coming from! It is rubbish and we are in the same situation with van hire and potentially loosing money. I know it’s a drop in the ocean when house buying but it all adds up….I don’t want to through away money needlessly 💴 

Hopefully we will both have a positive outcome by the end of the week 🙏🤞😬

p.s - FTB should be given a handy guide by their solicitor so they know what stage they are at and even some tips to help them through as a lot of the delays in the storied on this thread are from people not being aware - just a thought 🤔 

WorriedKirkels

MrsBrush said:

Another aaggh moment. The chain below us is ready and starting to aggressively push for Sept completion, but my sellers solicitors haven't answered any of the legal enquiries and are now saying they are "unnecessary".

There are a couple of historic covenants on the land (although the title is an absolute freehold) which states that the garage should only be used for parking a car and there is a restriction on additions to the building.  The garage has been converted to a room (with LA planning permission) and a conservatory erected (under LA permitted development), but there is a couple of outstanding questions of whether the covenant permissions were ever sought from the original conveyance (where the original company that owned the land and developed the site is still in existence so it looks like it technically should have been involved). I obviously need to rely on my solicitor to undertake the due diligence on my behalf, so if he says this is necessary, then I am assuming it is - given that the sellers solicitors have been awful throughout. I am leaving this to the experts to fight amongst themselves, but I also really want to get this all done and moved as soon as. Everything else is done, apparently apart from this, all we need now is agreement on exchange and completion dates

Can this be covered by any sort of indemnity to get this through, or do we need to wait for answers?

We had something similar on our current house when we bought it and an indemnity policy covered us. The covenant on ours was to get permission for any alterations from the original builder. Our solicitor asked if the other houses had alterations (they did) and researched whether the building firm was still in operation (it was) so suggested an indemnity policy which the vendor paid for. Hope that helps 🤞

mat1964

GF sale completed 2 mins before the deadline to send the mortgage funds back.

I'm 57, have been involved in multiple property transactions over the years, but never anything approaching what has gone on here.   I will collate everything and put a complaint in about the buyers solicitors.  Probably won't do any good, but we have evidence she has blatantly lied on several occasions.  We won't get our £17,600 back but it needs to go on record.

E_D_FTB

mat1964 said:

GF sale completed 2 mins before the deadline to send the mortgage funds back.

I'm 57, have been involved in multiple property transactions over the years, but never anything approaching what has gone on here.   I will collate everything and put a complaint in about the buyers solicitors.  Probably won't do any good, but we have evidence she has blatantly lied on several occasions.  We won't get our £17,600 back but it needs to go on record.

At least you finally got there! Although, like you said, it doesn't make the process any less terrible or unacceptable.

cheeky-peach

Does anyone else wake up wondering if today will be the day for news? And look at the clock to see if the Solicitor is still open? Haha!

[Deleted User]

apparently I’m gap patently I’m getting the enquiries I need to answer sent across tonight
any idea what kind of things that could be?
this house is only 6 years old