The NEW waiting to exchange thread...

Newdrake88

Can someone give me some advice?  Our vendor is stalling and we have suffered a family bereavement this week, the date the vendor wants is going to clash with funeral arrangements 

I am considering pulling out as I have seen another property, what happens with our mortgage if we found another property? Would we have to do the full mortgage application again with payslips, credit checks etc? 

HopeAndDriftWood

Newdrake88 said:

Can someone give me some advice?  Our vendor is stalling and we have suffered a family bereavement this week, the date the vendor wants is going to clash with funeral arrangements 

I am considering pulling out as I have seen another property, what happens with our mortgage if we found another property? Would we have to do the full mortgage application again with payslips, credit checks etc? 

Our new buyer had another property before he changed to ours. He didn't have to submit a whole new mortgage application -he just updated his with the new address, and then had a new valuation. He didn't have to submit new payslips or have more credit checks unless he needed to extend the mortgage offer; or at least that's what we were told! 

I'm sorry about your bereavement.

Hebblethwaite

@sacvwgolf, that's an awful thing to happen, I'm so sorry. 

@Newdrake88, yes it would be a whole new application, new searches/enquiries, new survey (if you wanted one) and all the accompanying stress. I'd try to avoid making major decisions at the time of a bereavement if possible. Can you just tell the vendor that certain dates aren't possible due to a funeral and offer some alternatives? I would think completion dates are often a bit of a negotiation between parties.

My purchase is also up in the air again. My vendor finally applied for probate around five weeks ago and her solicitors said they expected it to take 4 - 8 weeks (presumably they had requested for it to be expedited). Have just been updated again and told that there is no timescale being suggested, which makes me suspicious there is a hiccup. I've said I can wait until the end of the year (more than 7 months after my offer was accepted) but I think I will be (even more) fed up after that. If they tell me now that probate is going to take 6 months then I'm going to start looking at other places now.

novelle

@Hebblethwaite Maybe you can start looking around at houses to see what's available on the market now, just in case?

HopeAndDriftWood

We're still stuck in limbo.

Buyer needs to confirm enquiries are satisfied, and then he needs to complete before the 8th as he is leaving the country then. His preference was this weekend; followed by the 4th. But he's agreed with his solicitor that she'll review everything "by the end of the week", which was 5pm on Friday last week... 

Our seller wants to know when we're moving. He's saying he can't do the 5th unless he knows imminently, to give him time to plan. 

His sellers' solicitor is away next week. Someone else will handle completion for him but not exchange, so if we're not exchanged, it can't happen. And his mortgage offer expires on the 12th. 

It's a nightmare. 

RS2OOO

This thread makes for grim reading. 

I'm someone who has lost 2+ buyers and now the latest moving at less than a snails pace (a month since accepting their offer but they're only just submitting mortgage application and still no conveyancer in place).

An Estate Agent who I've committed to paying extra commission to in expectation of a better service but every phone call or shop visit to push things along ends with "good news" they forgot they already told me 2 weeks ago, or its on my list to chase up tomorrow / next week / when I feel like it etc.

Meanwhile I'm 100%  committed to my purchase at my offer price despite the terrible survey because I refuse to mess people around, but now worried the vendors will pull out because my sale is moving too slow.

3 Months since first offer accepted and being nowhere further down the line isn't a patch on some of you guys, yet I still find it unbelievably stressful and compounded by the 3 weeks unpaid "buy-back" annual leave I've booked with work to use this year for the move will end up as an expensive mistake.

Edit: Just to add, in case anyone interested;
Buyer couple 1 pulled out 6 weeks into process because they allegedly split up.

Buyer 2 pulled out just after offer accepted because property was too expensive compared to Zoopla estimates.

Buyer 3 submitted offer, we accepted, then they went AWOL never to be seen or heard from again.

Current buyer is actually Buyer 2 who came back having reconsidered. Estate Agent highly  recommended him as proceedable because he's bought properties through them before and moves fast (an investor), so we accepted on condition of no further negotiation and nothing has happened in the Month since then but he has set up a new company to buy the house under.

charlotteo1988

So finally had some news. 

Our buyer is almost complete - good news but also not as no one else is. 

Our sale I believe still no proper answers from the vendors solicitors. Hopefully they will be by email this time not bloody post. 

The vendor I hope has searches back by now and questions have been raised but I am unsure how far they area the estate agent did put forward to them our frustrations on them using snail mail rather than email to communicate. 

The vendors seller was going into a new build but has now changed to another property that is thankfully vacant. They I believe are at conveyancing but hoping searches will be back in a couple weeks as states 10 working days for searches for that area and everything else is done relatively quickly. They are keen to complete as soon as possible and hoping their solicitor is a little more forthright in getting my vendor solicitor to hurry up. 

I have asked if the 17th December would be a realistic date for completion? What with Christmas and new year coming up if not then it will most likely be 2022. Is 7 weeks from now with a sale that has not long been confirmed pushing it or is that doable? 

Thanks

greensalad

Solicitor finally got back to me that our vendor still hasn't responded to the small amount of outstanding enquiries we had. With no explanation as to why.

Still no update on my vendor's vendor splitting the title deed for their sale.

Signed all my paperwork and sent it this week. All we've got left to do for our sale is transfer the deposit. Why is no one else doing anything? It's driving me mad. Refusing to talk about dates but without a deadline in place how can we keep pushing the solicitors to do their jobs?

CarriePopping

Thought I'd join now!
31.03.21 Offer accepted on our property
14.04.21 Offer accepted on onward purchase, Property #1
06.05.21 Mortgage offer received on Property  #1
20.05.21 All enquires finalised on our sale, awaiting chain formation
21.05.21 Chased Property #1 for paperwork, pushed back survey
20.06.21 Chased Property #1 for paperwork again, pushed back survey
24.07.21 Chased Property #1 for paperwork again, pushed back survey
18.08.21 Spoke to Property #1 vendors, still no onward chain, cancelled survey, asked for paperwork
23.09.21 Received paperwork, buyer's mortgage ran out. Still no onward chain
30.09.21 Began looking at other properties
11.10.21 Offered under asking on property # 2, chain free.
18.10.21 Offer accepted after some negotiation on Property #2 
19.10.21 Offer withdrawn on Property #1 formally
21.10.21 New mortgage application submitted
28.10.21 New purchase paperwork submitted, enquires sent off
11.11.21 Survey booked

We are trying to make it in by Christmas now; luckily our buyer is staying with friends and has been an absolute saint through all this. Our solicitor is really on the ball, so fingers crossed we can make in in 7ish weeks. Should be doable (please, please, please, pretty please...)

waitingforsomething

I have exchanged!!!! Completing tomorrow yey!