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The NEW waiting to exchange thread...

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Comments

  • esubbs
    esubbs Posts: 134 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Arfa__ said:
    980233 said:

    I've exchanged on a longstop in November. If I asked for 3 days before exchange took place I would expect to be turned down.

    Pretty sure a straw poll  here will find 3 days excessive.
    The 3-day removal: 1st day loading and travel part way North, 2nd day continue North and unload, 3rd day is return journey for removals.  It's only the 1st day we are trying to align with a completion date, we just needed 2 weekdays after the completion day for the removals to finish their job. I only picked a Monday in October to complete as it was the first available day the removals could do after our buyer's having delayed lots since July and then suddenly turned around and expected to complete in mid-Sept with a weeks notice...

    But yes, we're chasing up plans to vacate earlier, putting stuff in storage for a week before it can be transported up North, staying over somewhere etc. We want to progress here, but I did need to vent frustrations at this additional faff and delay that seems so unnecessary.

    We're similar. Long distance removals require availability for three days. We're lucky in that we're moving in with family while we search for a new place so we can move anytime between exchange and completion, whenever the removals are available. Luckily our buyers are lovely and happy to work around whatever works for us but I hope lower down the chain are as accommodating 😬.
    Certainly threatening to pull out if they don't get a day of the week which only matter to them for the sake of opening the bubbly seems ludicrous! 
  • 980233
    980233 Posts: 197 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    esubbs said:
    Arfa__ said:
    980233 said:

    I've exchanged on a longstop in November. If I asked for 3 days before exchange took place I would expect to be turned down.

    Pretty sure a straw poll  here will find 3 days excessive.
    The 3-day removal: 1st day loading and travel part way North, 2nd day continue North and unload, 3rd day is return journey for removals.  It's only the 1st day we are trying to align with a completion date, we just needed 2 weekdays after the completion day for the removals to finish their job. I only picked a Monday in October to complete as it was the first available day the removals could do after our buyer's having delayed lots since July and then suddenly turned around and expected to complete in mid-Sept with a weeks notice...

    But yes, we're chasing up plans to vacate earlier, putting stuff in storage for a week before it can be transported up North, staying over somewhere etc. We want to progress here, but I did need to vent frustrations at this additional faff and delay that seems so unnecessary.

    We're similar. Long distance removals require availability for three days. We're lucky in that we're moving in with family while we search for a new place so we can move anytime between exchange and completion, whenever the removals are available. Luckily our buyers are lovely and happy to work around whatever works for us but I hope lower down the chain are as accommodating 😬.
    Certainly threatening to pull out if they don't get a day of the week which only matter to them for the sake of opening the bubbly seems ludicrous! 
    They are also working mid week. Maybe their annual leave works best end of the week with weekend to move in fully. FTB buyers getting a lot of heat for removal company's diary. Maybe look at other company's as a back up plan. 
  • Losing more sleep over two pieces of paper that should have been with respective solicitors weeks ago

  • Losing more sleep over two pieces of paper that should have been with respective solicitors weeks ago

    Know exactly what you mean by losing sleep! I am losing sleep here trying to get a completion date confirmed- being trying for 3 weeks so far - no amount of chasing up phone calls/e mails etc seem to work!
  • E_D_FTB
    E_D_FTB Posts: 280 Forumite
    100 Posts Name Dropper
    So apparently the top of the chain is still delayed, but the EA for the top is still "confident" we'll exchange this week and complete on 30th. Can't say that fills me with a huge amount of confidence, personally, but oh well. I just hope the rest of the chain is preparing themselves of the potential of paying the additional Stamp Duty if the top of the chain can't get it together in time.
    10th June - DIP submitted
    11th June - DIP referred to underwriter
    12th June - Viewed house, offer made and accepted
    14th June - DIP accepted and full application submitted
    16th June - Valuation booked for 18th
    18th June - Valuation completed - received text and email confirming the report had been received by Nationwide for review.
    22nd June - Hard search (Transunion)
    24th June - Second hard search (Equifax)
    1st July - Extra documents requested and uploaded by Broker
    9th July - Proof of Deposit requested and uploaded by Broker
    12 July - Searches applied for
    19th July - Problem with Proof of Deposit upload - reuploaded by Broker with narrative
    19th July - Survey carried out
    20th July - Offer issued - checked and confirmed by Broker
    21st July - Contract checks complete
    22nd July - Additional enquiries sent
    23rd July - Survey report returned
    27th July - Documents reviewed and okayed with solicitor
    4th August - Searches back
    31st August - Final enquiries back
    8th September - Contracts signed
    15th September - Deposit money transferred
    28th September - Exchange
    30th September - Proposed Completion
  • Our bank has booked the valuation in for our mortgage - It's completely unnecessary, and our advisor agreed when he called to tell us this morning, but they have to follow the standard procedure if our solicitor flags that they may want to actually visit the property. He's said he's expedited it, due to the time constraints.

    Debating whether to go and ask our estate agent if our buyer is actually proceedable today. No news on them on the valuation being booked yet, so I presume it's not, again. The husband thinks we should leave it, but I'd rather know, I think... 

    Still no contact at all from our solicitor.

    Let's hope for progress for all of us waiting today! 🤞
    Signature down for maintenance :rotfl:
  • E_D_FTB said:
    So apparently the top of the chain is still delayed, but the EA for the top is still "confident" we'll exchange this week and complete on 30th. Can't say that fills me with a huge amount of confidence, personally, but oh well. I just hope the rest of the chain is preparing themselves of the potential of paying the additional Stamp Duty if the top of the chain can't get it together in time.
    Hope you get sorted!! 🤞🏼🤞🏼
    19/7: Sale property on market
    24-25/7: 22 viewings on sale property
    24/7: Viewed purchase, probate awaited, no chain
    27/7: Offer accepted on sale (above asking price) FTBs
    28/7: Asking price offer placed on purchase
    29/7: Offer accepted on purchase
    11/8: Mortgage appointment with natwest
    12/8: Mortgage application submitted
    13/8: Valuation done on sale
    13/8: Valuation on purchase booked for 31/8
    16/8: Sale valued at offer price 
    18/8: Valuer for sale turned up early, valued at offer price
    19/8: Mortgage offer received
    26/8: Full structural survey done on sale property. Informed probate granted. 
    3/9: Survey report received, some untoward findings
    8/9: Second viewing, decision to reduce offer
    10/9: Reduced offer submitted following building quote
    11/9: Transfer form & contract signed for sale
    13/9: Sale searches back
    14/9: Reduced offer accepted
    16/9: Mortgage appointment to amend application
    17/9: All searches back on purchase
    18/9: Contract & transfer form
    signed on purchase
    20/9: Amended mortgage offer received 
    21/9: Mortgage redemption requested 
    22/9: Draft completion statements received 
    24/9: Exchanged contracts
    30/9: Proposed completion 
  • Couldn't help myself, chased the estate agent. 

    Second valuation is no longer needed, but the value is £20k lower than our buyer wanted, and £10k lower than he needs... so they're appealing. 

    I don't really know where we go from here. 
    Signature down for maintenance :rotfl:
  • So update from vendor EA, they have said in an email that our purchase will not complete next week 🙄

    £2300 worse off 😭😭😭😭😭
  • Eurgh, I'm sorry @Newdrake88. We've had a rubbish morning too. 

    Our estate agent has gone back to ask what our buyer's contingency plan is. I suspect it's asking us for a reduction... To be honest, I'd consider it if it meant we could be done by Friday, but I think that'd be a push at this stage.
    Signature down for maintenance :rotfl:
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