The NEW waiting to exchange thread...

nekr0mantik

mortgage_noob said:

We exchanged today! Barclays have released the funds and the status online is 'completed' and our solicitor sent a letter stating we'd completed  on the 9th even though we were going for completion on the 10th. 1 set of keys are in a 'key box' at the property and another are with the EA.

So perhaps we've completed too...either way we're moving tomorrow...

congrats
good to see few more people getting good news this week. 
Im getting opposite haha

E_D_FTB

WorriedKirkels said:

So, a quick update. After a rather manic 24 hours and urgent requests by the our buyers buyer (FTB) solicitor to HTB ISA for urgent funds release we have EXCHANGED!!!! Woo hoo 😁 completion set for tomorrow and currently in packing chaos.  A big thanks to you all for keeping me sane these last few days 🤪🤯🙏😁 x

Excellent news!!! So happy for you - just one more sleep and this will all be over!

E_D_FTB

mortgage_noob said:

We exchanged today! Barclays have released the funds and the status online is 'completed' and our solicitor sent a letter stating we'd completed  on the 9th even though we were going for completion on the 10th. 1 set of keys are in a 'key box' at the property and another are with the EA.

So perhaps we've completed too...either way we're moving tomorrow...

Confusing and excellent at the same time! Congratulations!

rabtech

Sorry for a lengthy first post, been a lurker for a while looking for tips and reading other peoples tales. Here's our tale of woe and a timeline. Buyer is a housing association cash buyer who we found out (recently is looking to resell the property, vendor's property is an ex-rental left 'as is' from the last tenant, with probate and a split between 5 x siblings. Our property is a 2 bed terraced, put up for sale for £109950, offer accepted at £105000. Property we are buying is a 3 bed semi with extension for £160000, our deposit will be £40K with a 75% LTV mortgage.

21st May - AIP
4th June - Valuation
9th June - Listed with Estate Agent
25th June - Offer received and (cash) buyers funds validated, offer accepted
27th June - Made offer on a property we liked
28th June - Vendor declined offer
29th June - Appointed local solicitor for sale of our property
5th July - All forms filled in, ID checks etc done and emailed to our solicitor
6th July - Vendor of house first offer refused on called back, current person offering messing about, they dropped their offer. We made an offer instead higher, informed no chain below us - cash buyer on our house.
7th July - Offer officially accepted
7th July - Assessed Mortgages with Broker
8th July - Broker applied for chosen Mortgage
8th July - Appointed local solicitor for purchase of next property (same one we are selling our house with, to speed things up)
13th July - Property to be purchased removed from market
19th July - Surveyor visit for next property (no major issues)
22nd July - Mortgage Application Approved and offer received
23rd July - Chased vendor, vendor delays with estate agents online logins
28th July - Our solicitor messaged, not had contract pack from vendors solicitor
28th July - Chased vendor, filling out forms and ID checks
6th August - Vendor sent probate certificate to their solicitor
10th August - Our solicitor messaged, she has had no contact at all from vendors solicitor. Vendors estate agent replied probate certificate received.
16th August - Emailed vendors estate agent, no response.
17th August - Emailed our solicitor, she has had no contact at all from vendors solicitor.
17th August - Called vendors estate agent - advised system showing only received example probate certificate, not full signed for certificate
20th August - Vendors EA emailed to say Vendor has binned PPL and appointed a new local solicitor due to excessive delays and no little to no help with sale
26th August - Our solicitor has received draft contract forms from buyers new solicitor, no fixtures and fittings form
27th August - Instructed our solicitor to proceed with searches on property we are buying
6th September - Our solicitor pushing all parties for a 28th September completion date, exchange asap.
7th September - Receive email from EA, our buyer now wanting a survey, booked for 9th September
9th September - Buyers surveyor visit

Fully expecting the buyer to gazunder us now, which in the current market is a silly idea given the lack of reasonable FTB level properties in our area. Chaaaaaarge

scottie21

WorriedKirkels said:

So, a quick update. After a rather manic 24 hours and urgent requests by the our buyers buyer (FTB) solicitor to HTB ISA for urgent funds release we have EXCHANGED!!!! Woo hoo 😁 completion set for tomorrow and currently in packing chaos.  A big thanks to you all for keeping me sane these last few days 🤪🤯🙏😁 x

Congratulations and good luck in your new home. Xxx

esubbs

SaucySecrets said:

Not much of an update from me, sadly... Our solicitor hasn't been in contact at all today. Our estate agent emailed at 7am to say that she'd finally clarified the mortgage situation of our buyer... he's had his existing property valued, last week, for a remortgage. He'll get the results from the underwriter on Monday, and then he can book his valuation of here... so no idea how long we're looking at for that, really. He's using Kensington. 

No news from the rest of the chain, either, but I haven't chased - spent today in the Antenatal Assessment Unit with reduced movements, so it's been left to it's own devices a bit. 

Hope you're OK and AAU was reassuring x

Rincewindcl

TheScone said:

esubbs said:

Is it really that unreasonable to expect some sort of communication from the buyer's solicitor to ours?
We've had two lots of enquiries from them, the first were pointless as basically the same questions as the property information form and the second was asking for retrospective planning on a historic extension we'd already given details of. We responded to both same day.
The latter was nearly four weeks ago, they don't even acknowledge receipt let alone respond to my solicitor's request for update. 
I spoke to our estate agent earlier who, in not so many words said I'm being unreasonable and it's perfectly normal for the buyers' solicitor to not give any information to ours on their progress. 

Communication has been my biggest gripe with the house buying/selling process so far! Everyone could just rest easy if we knew where each thing was up to, but no one seems to tell you anything until they want you to do something.

I work as a project manager and giving people updates on their projects is such an important part of what I do, it doesn't seem to be implemented in conveyancing at all!

I am also a PM and I whole-heartedly agree with your assessment. It makes me wonder if theres a gap in the market for 'Property PM's'! . Communication is key!

WorriedKirkels

mortgage_noob said:

We exchanged today! Barclays have released the funds and the status online is 'completed' and our solicitor sent a letter stating we'd completed  on the 9th even though we were going for completion on the 10th. 1 set of keys are in a 'key box' at the property and another are with the EA.

So perhaps we've completed too...either way we're moving tomorrow...

Woo hoo 🥳 this is the same for us but just means our solicitors drew the funds down today for completion tomorrow so that they aren’t waiting on funds being received tomorrow from the lender. A risky strategy for us as exchange was so up in the air but it worked out 😁 

WorriedKirkels

SaucySecrets said:

Not much of an update from me, sadly... Our solicitor hasn't been in contact at all today. Our estate agent emailed at 7am to say that she'd finally clarified the mortgage situation of our buyer... he's had his existing property valued, last week, for a remortgage. He'll get the results from the underwriter on Monday, and then he can book his valuation of here... so no idea how long we're looking at for that, really. He's using Kensington. 

No news from the rest of the chain, either, but I haven't chased - spent today in the Antenatal Assessment Unit with reduced movements, so it's been left to it's own devices a bit. 

I had this when pregnant and always when I was dealing with more stresses so look after yourself and take it easy if you can 🤗 

Lewist123

Had confirmation from our seller's solicitors that they are happy to exchange and complete on Tuesday (their tenants are handing the keys back on Sunday - it's been 5 months since we had our offer accepted on the property). I've never wanted a weekend to go so fast before!!