The NEW waiting to exchange thread...

Newdrake88

Pineapple2 said:

Pigeon56 said:

Hoping to exchange today but the sol still hasn’t asked for our deposit. I’ve asked for an update this morning but nothing yet. Trying not to panic 🙈 

Exchange cannot happen without your deposit so I’d be pushing for their details and get that to them ASAP as this should move you closer to the exchange stage.

Fingers crossed for you all! I understand how stressful all of this is.

Surprisingly since our solicitor received our signed contracts etc they called us (first time throughout the whole process) to discuss completion/exchange etc and exchanged happened yesterday with the aim to complete on 29th October.

I am hoping I will feel excited soon but think it’s just a build up of all the stress experienced during this period however compared to some of the experiences I’ve read on this forum I feel very fortunate. 

I don’t think this is necessarily true, when I bought my house I didn’t pay a deposit and I don’t have the 10% deposit in cash for my purchase this time until I complete on my sale so I won’t be transferring anything at exchange  

Pineapple2

Newdrake88 said:

Pineapple2 said:

Pigeon56 said:

Hoping to exchange today but the sol still hasn’t asked for our deposit. I’ve asked for an update this morning but nothing yet. Trying not to panic 🙈 

Exchange cannot happen without your deposit so I’d be pushing for their details and get that to them ASAP as this should move you closer to the exchange stage.

Fingers crossed for you all! I understand how stressful all of this is.

Surprisingly since our solicitor received our signed contracts etc they called us (first time throughout the whole process) to discuss completion/exchange etc and exchanged happened yesterday with the aim to complete on 29th October.

I am hoping I will feel excited soon but think it’s just a build up of all the stress experienced during this period however compared to some of the experiences I’ve read on this forum I feel very fortunate. 

I don’t think this is necessarily true, when I bought my house I didn’t pay a deposit and I don’t have the 10% deposit in cash for my purchase this time until I complete on my sale so I won’t be transferring anything at exchange  

We are first time buyers so maybe that makes a difference? Solicitors made it very clear to us exchange couldn’t happen until they had received the funds. 

Newdrake88

Pineapple2 said:

Newdrake88 said:

Pineapple2 said:

Pigeon56 said:

Hoping to exchange today but the sol still hasn’t asked for our deposit. I’ve asked for an update this morning but nothing yet. Trying not to panic 🙈 

Exchange cannot happen without your deposit so I’d be pushing for their details and get that to them ASAP as this should move you closer to the exchange stage.

Fingers crossed for you all! I understand how stressful all of this is.

Surprisingly since our solicitor received our signed contracts etc they called us (first time throughout the whole process) to discuss completion/exchange etc and exchanged happened yesterday with the aim to complete on 29th October.

I am hoping I will feel excited soon but think it’s just a build up of all the stress experienced during this period however compared to some of the experiences I’ve read on this forum I feel very fortunate. 

I don’t think this is necessarily true, when I bought my house I didn’t pay a deposit and I don’t have the 10% deposit in cash for my purchase this time until I complete on my sale so I won’t be transferring anything at exchange  

We are first time buyers so maybe that makes a difference? Solicitors made it very clear to us exchange couldn’t happen until they had received the funds. 

Yes maybe, I think when I bought my first house I sent the deposit funds by completion date 

Newdrake88

Edenbridge said:

Pigeon56 said:

Hoping to exchange today but the sol still hasn’t asked for our deposit. I’ve asked for an update this morning but nothing yet. Trying not to panic 🙈 

 Your deposit needs to be shown as cleared funds in your solicitors client account before exchange can be considered.

 You will also need to be contacted to give your authority on the planned day of exchange.

But I won’t have mine until completion when my sale completes

MrsBrush

Day 9 of trying to exchange - its painful!

MrsBrush

Newdrake88 said:

Edenbridge said:

Pigeon56 said:

Hoping to exchange today but the sol still hasn’t asked for our deposit. I’ve asked for an update this morning but nothing yet. Trying not to panic 🙈 

 Your deposit needs to be shown as cleared funds in your solicitors client account before exchange can be considered.

 You will also need to be contacted to give your authority on the planned day of exchange.

But I won’t have mine until completion when my sale completes

the buyer at the bottom of the chain must pay deposit to sol before exchange. and everyone else's purchase is dealt with from their sale. It will be different depending on the sale and purchase prices, and the solicitor should advise beforehand.

TheScone

Thank you all for the info with the EPC - there isn’t one currently available which is why the we couldn’t just download it I’m afraid! 

The estate agents said on Monday that they thought it had been done, but once they checked and saw it wasn’t they apologised,  arranged it and it would be over in the “next few days” and for this reason “wouldn’t impact the completion date.” Throughout the process the EA have generally been great so I think this just slipped through and that’s the only reason I’m leaving it to them to sort as long as we exchange before close of business Friday I’m happy - and both EA and Solicitor seem completely comfortable that will be the case. 

Our mortgage broker also contacted yesterday to let us (and sol) know they have set up the home insurance to start from the 19th so I think all our ducks are in a row 🙏 

CarriePopping

Hi all! Joining onto this thread as a way to try and manage the pre-exchange frustration!

Sold our house in March, offer accepted on a property in April, and our vendors still haven't found their onward purchase 6 months later. Mortgage offer is running out in a couple of weeks. Our buyer is so patient, we keep her up to date on everything, and have let her come around to measure up but our vendors seem really chaotic and pretty unrealistic with their house expectations. 

We have started looking for alternatives, chain free or pre-existing chain properties as we are desperate to move by Christmas. Offered on one, best and final rejected by snobby estate agents today as it was under guide price (its absolutely over priced and needs loads of work, and there has been only one other offer, also under guide due to condition). I think what broke me today was hearing our vendor rejecting a second viewing for at least 6 weeks 'as life is too busy' and these other estate agents suggesting we are offering on properties outside of our price range and are unrealistic (nope, your house is within budget, but over-priced!!)

Tell me this is achievable, we're 7 months in and no end in sight.

waitingforsomething

Oh @MrsBrush I really feel for you. Not posted much recently but I've been checking and hoping that you've managed to exchange.

I signed all paperwork last week so getting closer but solicitor seems to have gone awol and vendors still waiting for probate on their onward purchase as far as I know. .. I'm back to that how long is a piece of string waiting stage and it's driving me a bit nuts as I have absolutely no control

MrsBrush

Thank you all for your kind and supportive comments. I am at the point now that I am about to totally lose my !!!!!!! Spoke to my EA earlier, the process has been kicked off apparently, so I need to wait for news. Patience has deserted me now, I have a thumping headache and cant concentrate, so trying to work isn't helping either! 

Told my EA just now that I am at the point where I am considering re-listing and starting to look at other houses, because it seems that the chain has turned passive or have collectively lost interest and assumed that their respective conveyers of crap will get on with things (unlikely) and they just all seem to be accepting the situation. I don't want to either lose my buyer or the new house, but the various conveyers of crap need to know that this is totally unacceptable!