The NEW waiting to exchange thread...

novelle

Pigeon56 said:

We’ve got the contacts. Hopefully we’ve read it all properly and printed and signed all the correct documents! One step closer 🤩

must be excited to receive it 

Pineapple2

Mantis_Toboggan said:

FTB here so sorry if this is a dumb question, but what exactly happens on exchange? Do the solicitors actually send each other physical copies of the documents that their respective clients signed or is it just confirming over the phone that everything is in place and then the buyer's solicitor transfer the deposit to the seller's?

I’m not entirely sure - I’ve read back in the day they use to meet up in person to exchange but now it’s done over the phone. 

novelle

Pineapple2 said:

@ss2020jd oh what a nightmare! Especially as your solicitor was there ready for it! Sometimes it does feel like you are up against everything! Felt like that yesterday morning as had to go to 3 different shops just to buy an envelope to post it…tested my patience to say the least! 

Yes - think I will check with solicitors tomorrow afternoon about transferring the funds over. As want to make sure when we do it they can call/confirm they have received the funds that day. Also not sure if we have to quote a reference number or anything - want to check before we do this! 

sometimes these things happen! Having a temp postman who doesn't know he has to ring a doorbell. Or having to go to 3 different shops just to get an envelope 

Must be so frustrating 

birdmadgirl8

Pineapple2 said:

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.

100% this - we've been doing this for a year and there's still bits of the process that remain a mystery. It would be SO much more efficient (not to mention less stressful) if solicitors would just explain.

birdmadgirl8

@Pineapple2 I was replying to you in that previous post - I seem to have hidden your comment though 😂

MrsBrush

Stepping back onto the roller coaster this morning, a new week, a new completion date to be agreed and exchange attempt day 7 about to commence.

birdmadgirl8

@novelle @Pigeon56 @pineapple2 @ss2020jd We've reached exchange with 2 different solicitors (first one didn't go through, cos seller pulled out). First sol was really organised - we had TR1, Contract and Residential Mortgage Deed signed well in advance of exchange. This time we only received Contract prior to exchange. I asked about others and got no reply. On the fourth day of giving authority to exchange (at sol's request) we received the pre-exchange pack, full of info we'd been asking for since August (search docs we'd never seen, mortgage offer & deed, etc). It's lucky there were no problems, as we didn't have time to read 15 attachments at the moment she sent them (it said we should work through them carefully and let her know if we had questions). It also instructed us to take out buildings insurance, which luckily I had already done. I panicked when I saw the mortgage deed, as I was at work and we needed to exchange (top of chain threatening to pull out). I called solicitor and she took my call for first time. Said we didn't need it for exchange. Phew! However, it needed my daughter's signature (as occupier). I asked for this well before she went back to uni, but have had to get it sent back and forth via special delivery. So unnecessary (especially as Sol just a blank form for me to print). So, we are still waiting for TR1 and I'm worried she won't get it to us in time for us to get it witnessed. I am chasing though and will her stand in office till she sorts it if I have to. This is a longwinded answer to your question about what's needed before exchange! Needed to rant though! I consider that ridiculously late arrival of the pre-exchange a pack dereliction of duty. And it's only because I was organised that we had things in place - no thanks to Sol whatsoever! 
PS Our first (brilliant) so left firm in June.

birdmadgirl8

MrsBrush said:

Stepping back onto the roller coaster this morning, a new week, a new completion date to be agreed and exchange attempt day 7 about to commence.

Good luck! Thinking of you and everyone else trying to exchange 🤞

birdmadgirl8

@ss2020jd  What a nightmare with postie - glad it was sorted okay in the end!

birdmadgirl8

@TheScone @Faodail @pineapple2 @novelle @Pigeon56 Big Luck to you all - I hope you get happy news this week 🌻 and to anyone I might not have mentioned!!! 🍀