The NEW waiting to exchange thread...

E_D_FTB

JS21 said:

E_D_FTB said:

Newdrake88 said:

JS21 said:

980233 said:

JS21 said:

I am FUMING. Our offer on a house was accepted on 11.08.21 and we had always let the EA know the goal was to complete by end of Sept. He said it was difficult to do but we have done everything we can to make it a possibility. The sellers were also keen to move quickly (no onward chain). Fast forward to this morning, we're just on the way to the bank to transfer the money and the sellers conveyancer replies to say completion this Thursday is too short notice. they want AN EXTRA MONTH with early exchange! (we did a final viewing last week and they've emptied a lot from the house, bare rooms etc.)
Our conveyancers have been fantastic, everything sorted and the sellers side yesterday said they were just waiting on the redemption statement. We were hoping to complete this month, complete the work we want to do in the house and then be in before end of Oct. We've rung the EA to ask wth they're saying and if they're going to take the extra costs off the price of the house?! (highly doubt it) and that the extra time isn't possible. We've proposed next week and at max, 2 weeks from today on the 12th.

I know it's not the end of the world but our last purchase also fell through at this stage when the sellers pulled out at exchange. it's so frustrating and means an extra £2,500 in stamp duty which they won't compensate in any way. They wouldn't bend on the price at all and we've moved as fast as we can whilst being incredibly busy at work to show we were committed buyers and to try and ensure we got it all done in time, which we did. After 14m of living with family we're ready for our space again and just want to get cracking. it's also incredibly difficult to try and get time off work in the next few months! I'm just so fed up!

ok rant over. Hopefully everyone else that's trying to exchange/complete this week has better luck than us!

7 weeks is a tad optimistic from offer to completion even in normal circumstances never mind the rush to beat stamp duty changes, it was never going to happen.

It was optimistic but we'd made it clear that we would also do everything we could to make it happen and already had a lot of the background work done e.g. conveyancers and brokers background checks, paperwork etc. We'd also had the same with our previous purchase in may/june and had got from offer accepted to exchange/completion in 7 weeks. For this purchase, the fact that we were able to move quickly and had experience of the process was the key reason they chose us over another buyer as we were able to move things along quickly. They had also said they wanted to be out of the house ASAP and had already started clearing and emptying the property. Our conveyancers and theirs have been in regular contact and have updated at each stage of where we're at so it wasn't a surprise we were nearing exchange and completion - they were also reminded of the dates regularly and the EA had said they were on track to be out in time also. When we viewed the property for a final look before exchange last week, most of the rooms and cupboards were empty with the exception of things still being used e.g. the bed, dresser, dining table, tv and sofa. They have no onward chain so asking for another month seems unreasonable. I guess we'll just have to see what the EA says once he's spoken to them.

We were the same, at the outset we said we need to complete by 30th, EA constantly chasing, vendor solicitor wasted so much time at the beginning but never once said 30th isn’t possible…until last week they quite bluntly put “this won’t complete next week” 

nothing wrong with being optimistic but I think they should manage expectations they had 6 weeks to tell us it won’t be done in time 

I’ve made my peace with losing £2500 now though, at the same time I’m not prepared for it to drag on another month 

Yeah, I think expectation management is often the problem. We had hoped to complete by the end of August, which would have been about 10 weeks from our offer - so doable but also a bit optimistic. But our estate agent never made firm commitments on that and was very clear that you can always aim for an ideal completion date from the start, but never expect it. Things always come up that cause delays (as it did with ours) and you have to have a plan B ready for if it doesn't go as you had hoped/planned. 

I totally get your frustration, @JS21, but as others have said, 7 weeks is fast for the UK - it might be worth trying to find out why they need the time. Might be they can't move the big items themselves and need time to arrange movers once exchange has happened. It's tough, but you've got to remember that everyone has their circumstances, and that they can change. Finding a day that works for everyone is often a compromise that works, but doesn't fully satisfy everyone involved. 

I completely understand that everyone has their own circumstances, we ourselves were lucky enough to be able to move in with family and be flexible with dates but as @Newdrake88 also said, they had 6 weeks to tell us it's not possible! we budgeted for the full stamp duty amount, it's just frustration more than anything so we'll see what happens i guess!

Yeah, that is very frustrating - totally get your need to rant! I think sometimes people delay because they worry people will pull out if they do, so they wait until it's absolutely not possible and hope that everyone's too committed to back out.

Hope you can get a date a bit sooner than a month though!

FirstTimePlx

Finally exchanged. Woohoo. Completion for tomorrow.

[Deleted User]

I just can’t get my head round going from completing to falling apart

E_D_FTB

FirstTimePlx said:

Finally exchanged. Woohoo. Completion for tomorrow.

YAY!!! Congratulations!

cdrz

DeletedUser said:

I just can’t get my head round going from completing to falling apart

awful this is, my worst night mare so I'm gutted for you

FirstTimePlx

E_D_FTB said:

FirstTimePlx said:

Finally exchanged. Woohoo. Completion for tomorrow.

YAY!!! Congratulations!

Thank you so much.

Main thing is now; at the very least with the slim chance there is, it is all going to plan for completion tomorrow.

E_D_FTB

FirstTimePlx said:

E_D_FTB said:

FirstTimePlx said:

Finally exchanged. Woohoo. Completion for tomorrow.

YAY!!! Congratulations!

Thank you so much.

Main thing is now; at the very least with the slim chance there is, it is all going to plan for completion tomorrow.

I'm sure it will - you've earned a non-stressful completion day after all of this!

arrows123

FirstTimePlx said:

Finally exchanged. Woohoo. Completion for tomorrow.

Woo hoo congrats, I'm still waiting to hear. 

E_D_FTB

arrows123 said:

FirstTimePlx said:

Finally exchanged. Woohoo. Completion for tomorrow.

Woo hoo congrats, I'm still waiting to hear. 

Same! Gave authority this morning, although our solicitor hadn't heard anything from the rest of the chain to confirm they were available to go ahead today, so I'm not feeling very hopeful.

E_D_FTB

WE HAVE EXCHANGED!!! And with a whole 2 days to spare! Now to hand in notice on our rental and really get to packing!