The NEW waiting to exchange thread...

MrsT88

Final offer has been received by the buyer with no obvious ridiculous demands requested. Fingers crossed we will be on our way to completion.
Amature House really hope yours starts to move soon.

Littlebobo1981

My broker contacted me yesterday (on the weekend can you believe it ) to apologise for the mistake on the valuation and is going to chase up with the bank on Monday ...fingers crossed we can start moving forward again ..can't see us being in by xmas now ...tbh i'm rather relieved as we are away for xmas and would have been a teeny bit manic !

MoneySavingSue

Well I exchanged on Friday! �� completion date set for the 15th Dec. So pleased that I'm nearly there.

Littlebobo1981

moneysavingsue wrote: »

well i exchanged on friday! �� completion date set for the 15th dec. So pleased that i'm nearly there.

huge congrats

Aliliva

Long time lurker, but finally I got my fist tiny step in the right direction and i can post here.

My offer had been accepted :j :beer: :T (clearly got the call on the weekend I was out of the country, but God bless the inventor of roaming I could actually get the ball rolling a bit)

Can I rely on the wisdom of the community to help me come up with a reasonable timescale for the whole process? I'm a first time buyer and hoping to complete in February on a no-chain property in SW London.

Instruct Solicitor -> 04/12/2017 (i've already sent them the details, I just have to pay the fist instalment)
Instruct Surveyor -> 05/12/2017 (I'm starting to get some quotes, but realistically I won't have time to compare them till this evening)
Send documents to broker for mortgage application -> 05/12/2017 (have to dig out some paperwork tonight and scan it tomorrow at work)
Get mortgage application done -> 08/12/2017
Carry out survey -> next week?

Now, I'm totally clueless about the timescale of any further step. When should I expect the lender to come back to me with the valuation date? and realistically, how long will it take to my solicitor to check all the paperwork? :eek:

Firsttimebuyers

We viewed our house again yesterday to measure up.


Solicitors started searches 10 days ago, zero contact from them since then -but we don't want to move until end of January ideally and the Vendor said yesterday she's happy with that too so not pushing them - which is weird as we feel like nothing is happening - so we're taking the time to declutter the house we're renting!

JoJo1978

:beer: well done Aliliva!

I would find out your overall chain length. Either go to your vendors estate agent or your solicitor and ask how many people are in the chain and if it is complete (is the top someone who is not buying someone else immediately/or who will move out.)

If it's a short chain and it's complete, completing at the end of February doesn't sound like it's too far off. However, Christmas and the short month of February do take a few days off the working day total. If it's a leasehold purchase maybe add a few days on to your estimation.

JoJo1978

Firsttimebuyers, declutter early, nice use of the 'dead time' when nothing is happening.

Do it now so you can enjoy it and go down nostalgia avenue.

Don't leave it until a week before you go (my DH) and get threatened with "sort this drawer or I'm binning it" (me)

Aliliva

JoJo1978 wrote: »

:beer: well done Aliliva!

I would find out your overall chain length. Either go to your vendors estate agent or your solicitor and ask how many people are in the chain and if it is complete (is the top someone who is not buying someone else immediately/or who will move out.)

If it's a short chain and it's complete, completing at the end of February doesn't sound like it's too far off. However, Christmas and the short month of February do take a few days off the working day total. If it's a leasehold purchase maybe add a few days on to your estimation.

I'm lucky enough to have fallen for a nice chain-free property :j but I'm still worried sick sth wrong might happen, outside of my control (ok, maybe reading all the pages of this tread while commuting was NOT the best idea ever)

How long should I allow for the lender to set up a valuation and then give me a response? I'd love to have it done before Xmas to enjoy the holidays without this big worry painting everything black

JoJo1978

Aliliva - all our can do is my put my current experience down for you:

My purchase: house 10 years old and no mortgage. So we commissioned our own valuation (lowest level of survey). We got the report back in 4 days, the vendors had provided access real quickly.

My sale: *my sale was a little atypical* It took buyers solicitor 6 weeks to get a survey booked. There were several things that took that long 1. the buyers lender do all of the other stuff first and do the survey last 2. the buyers lender dealt only with a certain solicitor (they were not the fastest.) Once the survey was in (2 days), valuation (lender) plus building condition (buyer) it took 4 days for the bank to issue a formal mortgage offer and 2 days for us to answer all the buyers post-query questions to his satisfaction.

Because of the delay to the survey we were ready to exchange a week post survey.