The NEW waiting to exchange thread...

E_D_FTB

House_owner said:

So, just phoned my estate agent to try and find out what is going on - she just said that as far as she knows completion is still down for 29th, but can't give me any further information and I need to contact my solicitors. When I try to contact solicitors, I either can't get through or I get even more vague replies!
Exchange still not taken place - anxiety levels are high!

I feel your pain - it's very difficult to feel confident completion will happen when you're so close and apparently not in a position to exchange. Hope you get some good news today.

Duck345

And our enquiries have been raised! We've been waiting weeks so really glad that somethings happening - now for them to be answered in good time is another situation entirely! 

sacvwgolf

Duck345 said:

And our enquiries have been raised! We've been waiting weeks so really glad that somethings happening - now for them to be answered in good time is another situation entirely! 

That seems along time between draft contract pack being received and the enquiries being raised?

HopeAndDriftWood

Morning all! 

New buyer has submitted his ID and is pretty ready to go. We're waiting to hear from our solicitor to send over all the required information... as per usual. 

Duck345

sacvwgolf said:

Duck345 said:

And our enquiries have been raised! We've been waiting weeks so really glad that somethings happening - now for them to be answered in good time is another situation entirely! 

That seems along time between draft contract pack bring received and the enquiries being raised?

Yes doesn't it just!

justcat01

Okay, I thought I'd get involved in this because I feel like it would be good to see my timeline:

11/09 Viewed Property and put in offer (quick, but when you know, you know)
13/09 Offer accepted and memo of sale received
14/09 Solicitor instructed and searches paid for 
18/09 Homebuyer Report scheduled for 30/09
21/09 Updated memo of sale received with change of solicitors (originally was down as Countrywide)
23/09 Full mortgage application with Nationwide via broker
27/09 Confirmation that Nationwide will be completing a valuation on 07/10

Our buyers are paying with cash and we accepted their offer on the 25th August. They want to be in by January so we said that we'd move out if we didn't complete by the end of January. (We can move back to parents)
Our vendor is an older woman looking to move into an assisted living flat. She's really keen to move and offered on something last week that was declined because of the chain. She's looking aggressively and we expect her to find somewhere soon. Whatever it is, it will have no chain!

We're really lucky to have found this house because it's perfect and has everything we want with little compromises and we were able to get it under asking before it went on the market due to our position!

I'd love to get in before Christmas, but we'll have no idea until she finds her onward purchase. We're keeping our fingers crossed that it at least happens before the end of Jan so we don't have to move out and put our cat into a cattery!

We've paid for the searches but I'm not sure if they're been started yet. I'm going to wait to hear that our vendor has found somewhere and then confirm with our solicitor. I'm sure they're rammed right now with the completions this week due to the stamp duty holiday so I don't want to add to their stress!

I lool forward to getting to know you all and support through our purchases!

E_D_FTB

justcat01 said:

Okay, I thought I'd get involved in this because I feel like it would be good to see my timeline:

11/09 Viewed Property and put in offer (quick, but when you know, you know)
13/09 Offer accepted and memo of sale received
14/09 Solicitor instructed and searches paid for 
18/09 Homebuyer Report scheduled for 30/09
21/09 Updated memo of sale received with change of solicitors (originally was down as Countrywide)
23/09 Full mortgage application with Nationwide via broker
27/09 Confirmation that Nationwide will be completing a valuation on 07/10

Our buyers are paying with cash and we accepted their offer on the 25th August. They want to be in by January so we said that we'd move out if we didn't complete by the end of January. (We can move back to parents)
Our vendor is an older woman looking to move into an assisted living flat. She's really keen to move and offered on something last week that was declined because of the chain. She's looking aggressively and we expect her to find somewhere soon. Whatever it is, it will have no chain!

We're really lucky to have found this house because it's perfect and has everything we want with little compromises and we were able to get it under asking before it went on the market due to our position!

I'd love to get in before Christmas, but we'll have no idea until she finds her onward purchase. We're keeping our fingers crossed that it at least happens before the end of Jan so we don't have to move out and put our cat into a cattery!

We've paid for the searches but I'm not sure if they're been started yet. I'm going to wait to hear that our vendor has found somewhere and then confirm with our solicitor. I'm sure they're rammed right now with the completions this week due to the stamp duty holiday so I don't want to add to their stress!

I lool forward to getting to know you all and support through our purchases!

Welcome! Sounds like as long as your seller can find somewhere reasonably quickly, Christmas isn't out of the question. Good luck!

arrows123

Question - I know you need buildings insurance at the point of exchange. I'm expecting to exchange tomorrow but wont know until it happens. Do I take out a policy now (I have quote already all lined up) with a start date of tomorrow and hope I exchange tomorrow? Assume if it doesn't happen and happens on Weds or Thursday then theres no issue with the policy starting sooner? what are others doing?

E_D_FTB

arrows123 said:

Question - I know you need buildings insurance at the point of exchange. I'm expecting to exchange tomorrow but wont know until it happens. Do I take out a policy now (I have quote already all lined up) with a start date of tomorrow and hope I exchange tomorrow? Assume if it doesn't happen and happens on Weds or Thursday then theres no issue with the policy starting sooner? what are others doing?

I would get it set up on the first day you give authority for your solicitor to exchange. We've had insurance in place that started over a week ago because of delays to exchange and it hasn't been an issue. As long as it's insured!

MrsBrush

Looks like we are almost ready to exchange, with just an indemnity insurance outstanding. Does anyone know how long it should take to get an indemnity insurance in place?