The NEW waiting to exchange thread...

Faodail

Pigeon56 said:

The sol was supposed to send us the contracts to read and sign over the weekend so we can exchange next week but we didn’t receive them 😭

Oh my gosh, I hope like @Pineapple2 that you get them Monday! Our Sol sent them Thursday afternoon and arrived Friday morning recorded... From Scotland.

@Pineapple2 Thank you x

Thrugelmir

Pineapple2 said:

Faodail said:

Pineapple2 said:

Arranged for contracts/mortgage deeds etc to be delivered to solicitors on Monday so I am guessing next steps will be transferring funds to solicitor ready for exchange and completion?

Pushing for this to happen this month but don’t know if realistically this can be done quickly? I am first time buyer and feel very out of my depth with it all and the process of buying our first home. 

We have sent our documents back and should arrive Monday also. We have already transferred the funds to our Sol, hopefully completion on 22nd or before. 

As a first time buyer I wish they would explain everything clearly and what our next steps are as I feel so confused by it all and I am having to constantly chase and ask them what happens. They know we are first time buyers so I feel they should be understanding of this.

There's plenty of guides online. The basics of the transaction are pretty much straightforward. Remember your solicitor is also the lenders. The solicitor will therefore be controlled by the speed of communication with them. 

novelle

Pineapple2 said:

Faodail said:

Pineapple2 said:

Arranged for contracts/mortgage deeds etc to be delivered to solicitors on Monday so I am guessing next steps will be transferring funds to solicitor ready for exchange and completion?

Pushing for this to happen this month but don’t know if realistically this can be done quickly? I am first time buyer and feel very out of my depth with it all and the process of buying our first home. 

We have sent our documents back and should arrive Monday also. We have already transferred the funds to our Sol, hopefully completion on 22nd or before. 

I asked our solicitor when to send over the funds but they were very vague and said once we have returned documents. 

As a first time buyer I wish they would explain everything clearly and what our next steps are as I feel so confused by it all and I am having to constantly chase and ask them what happens. They know we are first time buyers so I feel they should be understanding of this.

i feel the same as you.

My conveyancer does not tell me what's going to happen next so I googled and studied a lot from online info.

novelle

Pigeon56 said:

The sol was supposed to send us the contracts to read and sign over the weekend so we can exchange next week but we didn’t receive them 😭

so we are suppose to sign the contract first BEFORE exchange? 

Is it just a draft or the real thing?

So you will sign the contract and then give the solicitor the deposit ----> this is what people in here called "exchange" right?

Sorry FTB I don't know much about the process

Pineapple2

novelle said:

Pigeon56 said:

The sol was supposed to send us the contracts to read and sign over the weekend so we can exchange next week but we didn’t receive them 😭

so we are suppose to sign the contract first BEFORE exchange? 

Is it just a draft or the real thing?

So you will sign the contract and then give the solicitor the deposit ----> this is what people in here called "exchange" right?

Sorry FTB I don't know much about the process

Yes, from what I understand the contract, mortgage deeds, transfer and stamp duty forms have to be signed first - mortgage deeds and transfer forms will need to be witnessed. 

Once they are back I then believe the transfer form will need to be sent over to vendors solicitor for them to sign and then need to make sure funds are sent to solicitor/home insurance in place ready for exchange.

However I am a first time buyer too with my partner so I may be incorrect. 

Pigeon56

@novelle & @Pineapple2 yes, I believe the sol has to have the signed documents and deposit  before exchange. We are hoping to exchange next Wednesday / Thursday with completion next Friday / Monday but I just don’t know if that’s possible now we haven’t received the contract. I was hoping to have the weekend to read and then get them posted back Monday for Tuesday but if we don’t get them until Monday we can’t post them until least Tuesday for Wednesday. It’s dragging out! We’re on week 20 next week 😅 

Pineapple2

Pigeon56 said:

@novelle & @Pineapple2 yes, I believe the sol has to have the  signed documents and deposit  before exchange. We are hoping to exchange next Wednesday / Thursday with completion next Friday / Monday but I just don’t know if that’s possible now we haven’t received the contract. I was hoping to have the weekend to read and then get them posted back Monday for Tuesday but if we don’t get them until Monday we can’t post them until least Tuesday for Wednesday. It’s dragging out! We’re on week 20 next week 😅 

Wow, 20 weeks. Are you in a chain? I am fed up with just over 10 weeks…so I can’t imagine how you are feeling. Let’s hope you get the forms Monday and still push for the exchange next week! 🤞🏼

Pigeon56

@pineapple2 nope! Just us and the vendor and the house is currently empty. The vendors solicitors have just been so slow replying to enquires. I’m sure yours will be faster than ours! I hope so! 

Pineapple2

Pigeon56 said:

@pineapple2 nope! Just us and the vendor and the house is currently empty. The vendors solicitors have just been so slow replying to enquires. I’m sure yours will be faster than ours! I hope so! 

That’s so frustrating. So much is out of our control when it comes to solicitors etc. I have found keeping communication with the estate agent has helped as they want everything to go through to get their money. Really hope you get your exchange this week 🤞🏼

Thank you - I hope it’ll move quick now but we shall see! 

novelle

Pineapple2 said:

novelle said:

Pigeon56 said:

The sol was supposed to send us the contracts to read and sign over the weekend so we can exchange next week but we didn’t receive them 😭

so we are suppose to sign the contract first BEFORE exchange? 

Is it just a draft or the real thing?

So you will sign the contract and then give the solicitor the deposit ----> this is what people in here called "exchange" right?

Sorry FTB I don't know much about the process

Yes, from what I understand the contract, mortgage deeds, transfer and stamp duty forms have to be signed first - mortgage deeds and transfer forms will need to be witnessed. 

Once they are back I then believe the transfer form will need to be sent over to vendors solicitor for them to sign and then need to make sure funds are sent to solicitor/home insurance in place ready for exchange.

However I am a first time buyer too with my partner so I may be incorrect. 

i see, thank you. Now i know what i am expecting.