The NEW waiting to exchange thread...

Hebblethwaite

I had an offer accepted in May. I knew the completion date was going to be a while away as my vendor was waiting on a new build to be completed. However, it was due to be finished in October, so I was hoping for completion by the end of the year at the latest. It's felt like a long wait, but I was really starting to hope that I might be coming to the end. I'm living in a single room in some temporary accommodation provided through work, sharing a loo/shower/kitchen with random strangers who come and go. I am so ready to have a house of my own. I have been making plans for the garden, and trying to work out what I can do/plant for each potential month I might get in. I had started to believe this might actually be happening.

At a minute to midnight, I have just received an email from my solicitor saying that my vendor never applied for probate to sell the freehold after her husband died a year ago. They are only just going to make the application now. I feel absolutely sick to my stomach. This could take absolutely ages to sort out, and my vendor could lose her new build in that time and therefore not be in a position to sell at all. And in the meantime I'm stuck in this awful accommodation, and unable to rent a regular place because I don't want to sign a 12-month tenancy (which is all that is on offer) while trying to buy a house. And I may have lost this house and wasted the four months since my offer was accepted, not to mention the survey and solicitor fees. I know a significant proportion of house sales do fall through, but with such a short chain I was really optimistic that it would work out. I feel completely despondent right now. 

I've emailed my solicitor back to ask about the likely timeframe for this to be sorted out (my solicitor never seems to actually provide helpful explanations with the information she sends) but just feel thoroughly miserable about the whole thing right now. 

Elle83

Congratulations to everyone that has managed to get across the line this week!

We've had about 2 hrs sleep, despite starting packing 2 weeks ago, we still seemed to have loads to do. 

Removals will be here at 8.30. I can't quite believe we have actually got to completion day. 

Hoping today goes smoothly, don't think my heart could take another blip!

Good look to everyone else!

Rincewindcl

Elle83 said:

Congratulations to everyone that has managed to get across the lne this week!

We've had about 2 hrs sleep, despite starting packing 2 weeks ago, we still seemed to have loads to do. 

Removals will be here at 8.30. I can't quite believe we have actually got to completion day. 

Hoping today goes smoothly, don't think my heart could take another blip!

Good look to everyone else!

Enjoy your move and your new home!

scottie21

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. 

Sounds like you need to not worry about house moves for a couple of days at least.  Take care. Xx

scottie21

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...

Congratulations, good luck in your new home. Xx

scottie21

rabtech said:

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

TBF I read if it’s based on survey results then it’s not classed as gazundering, as all offers are subject to contract & and no solicitor in their right mind would suggest you buy without a survey. 

Hope you get sorted & through before the end of the month

scottie21

Hebblethwaite said:

I had an offer accepted in May. I knew the completion date was going to be a while away as my vendor was waiting on a new build to be completed. However, it was due to be finished in October, so I was hoping for completion by the end of the year at the latest. It's felt like a long wait, but I was really starting to hope that I might be coming to the end. I'm living in a single room in some temporary accommodation provided through work, sharing a loo/shower/kitchen with random strangers who come and go. I am so ready to have a house of my own. I have been making plans for the garden, and trying to work out what I can do/plant for each potential month I might get in. I had started to believe this might actually be happening.

At a minute to midnight, I have just received an email from my solicitor saying that my vendor never applied for probate to sell the freehold after her husband died a year ago. They are only just going to make the application now. I feel absolutely sick to my stomach. This could take absolutely ages to sort out, and my vendor could lose her new build in that time and therefore not be in a position to sell at all. And in the meantime I'm stuck in this awful accommodation, and unable to rent a regular place because I don't want to sign a 12-month tenancy (which is all that is on offer) while trying to buy a house. And I may have lost this house and wasted the four months since my offer was accepted, not to mention the survey and solicitor fees. I know a significant proportion of house sales do fall through, but with such a short chain I was really optimistic that it would work out. I feel completely despondent right now. 

I've emailed my solicitor back to ask about the likely timeframe for this to be sorted out (my solicitor never seems to actually provide helpful explanations with the information she sends) but just feel thoroughly miserable about the whole thing right now. 

I think probate can be quite a lengthy process at times, the house we are buying has been empty a year since the residents passed away, went on the market in April, and lost their first buyer waiting for probate and was re-marketed end of July, which was when we put an offer in. Probate came through just after our offer was accepted. 

scottie21

Elle83 said:

Congratulations to everyone that has managed to get across the line this week!

We've had about 2 hrs sleep, despite starting packing 2 weeks ago, we still seemed to have loads to do. 

Removals will be here at 8.30. I can't quite believe we have actually got to completion day. 

Hoping today goes smoothly, don't think my heart could take another blip!

Good look to everyone else!

Good luck with the move & in your new home. Xx

Hebblethwaite

scottie21 said: I think probate can be quite a lengthy process at times, the house we are buying has been empty a year since the residents passed away, went on the market in April, and lost their first buyer waiting for probate and was re-marketed end of July, which was when we put an offer in. Probate came through just after our offer was accepted. 

Yes, that's what I'm concerned about. I'm so frustrated that nobody checked that she had applied for probate. My solicitors asked to see the grant of probate two months ago, but her solicitors seem to have only just realised they need it. And why wouldn't anyone have checked at the time her new build offer was accepted? When I think of all the hoops I had to jump through before my offer was even presented to the vendor...

I don't blame the vendor for this (she last bought a house in the 1950s). But her solicitors (and mine) and the EA haven't exactly proved themselves to be very capable here.

scottie21

Hebblethwaite said:

scottie21 said: I think probate can be quite a lengthy process at times, the house we are buying has been empty a year since the residents passed away, went on the market in April, and lost their first buyer waiting for probate and was re-marketed end of July, which was when we put an offer in. Probate came through just after our offer was accepted. 

Yes, that's what I'm concerned about. I'm so frustrated that nobody checked that she had applied for probate. My solicitors asked to see the grant of probate two months ago, but her solicitors seem to have only just realised they need it. And why wouldn't anyone have checked at the time her new build offer was accepted? When I think of all the hoops I had to jump through before my offer was even presented to the vendor...

I don't blame the vendor for this (she last bought a house in the 1950s). But her solicitors (and mine) and the EA haven't exactly proved themselves to be very capable here.

If it was her spouse and they lived together the solicitors may have assumed they were joint tenants rather than tenants in common, especially if she didn’t raise it? Or it could be a misunderstanding when the question was asked. Hope you get sorted. I think they can push it through sometimes, if housing issues etc. Is she dependent on sale for her onward purchase?