The NEW waiting to exchange thread...

charlotteo1988

justcat01 said:

charlotteo1988 said:

Just got a email to say solicitors at the top of the chain think January would be more feasible than 17th Dec. 

Heartbroken. Really wanted to move this year!!! 

Do I keep trying to get them to push for the 17th or just say ok we will go for January. 

How many are in your chain? Do you know what's outstanding? 

So 4 of us are in the chain. 

My sale is done they brought my house in July. 

My purchase gone back with 4 more questions and have a septic tank survey booked for Tuesday. Also waiting for TR1 to be sent so we can sign it. 

The vendor her searches back next week and questions have been sent to their vendor. 

The last person not entirely sure what is left in presuming searches due back next week or there abouts and questions needing to be answered. 

Shame because we all want to move and all other solicitors have said they will be ready just top of chain saying they think it be more feasible for a early January date. 

firstbuyer

Hi All,

Popping myself in here. We've never bought and sold before, our first purchase we were FTB and I thought that was stressful... I was wrong lol

After our first buyer pulling out and losing our original house, we now have a family member as a cash buyer (remortgaging her current property) and a new house for us.

Our offer on new property was accepted 28th October.

I think all draft contracts on both sides have been issued now, my solicitor has also raised their enquiries.

Searches have been ordered for both my property and my onward purchase
Leasehold packs have been ordered
Help to Buy loan valuation completed but havent sent off for redemption just yet
Remortgage offered for my buyer
Our mortgage approved subject to val (which is on this coming Monday)

Our vendor is super keen to get things done before christmas as the property is vacant.

I don't really know how quickly things are moving at the moment? Is it a realistic target?

Me, my husband and my buyer want to be in ASAP too but no pressure from us, just feeling it from the vendor.

Slithery

firstbuyer said:

we now have a family member as a cash buyer (remortgaging her current property)

She isn't a cash buyer if she needs to remortgage. A cash buyer is someone who has the full purchase price already in their account.

Sacher50

Staggeringly, our solicitor just emailed me to say we're ready to exchange. All the outstanding enquiries we thought would take forever to resolve because they involved approval from the council have melted away after the council basically shrugged and said "Why are you bothering us?".

Our new mortgage application still needs to be approved (our original offer expired because the vendors had so much to resolve on their side) and we need to sign all the documents, but (touch wood) that's all that's standing in the way of us exchanging!

 

LizaVCook

So we lost buyer no. 3 on November 1st. (The same day rest of chain were ready to exchange) Accepted offer from buyer no. 4 on November 4th! FTB who purchased searches from B3

We’re all ready to exchange again! Solicitor has today suggested November 29th for completion!!

 We might actually get the Chris we’ve been hoping for since July!!!

The only spanner in the works is that we have decided to have a survey done on the culverted watercourse in the garden of our purchase property just for peace of mind after a some recent information of a neighbouring property. I am hopeful the survey can happen next week and will prove everything is in good sound condition and then all systems go.

firstbuyer

Slithery said:

firstbuyer said:

we now have a family member as a cash buyer (remortgaging her current property)

She isn't a cash buyer if she needs to remortgage. A cash buyer is someone who has the full purchase price already in their account.

Is she not? Her remortgage was approved today. The way it was explained to us is the funds would be there in full in the next week or too therefore she could purchase as a cash buyer as her remortgage is no tie to the property she’s buying?

andy444

Was hoping to exchange contracts on my purchase today after my solicitors said yesterday that it should all be ready to commence today. 

But my vendors' useless solicitors weren't ready today as a senior solicitor there has to sign off their contract. I got an email from the EA several days ago stating that's all that was left to do several days ago so they've apparently done little on that aspect since. 

Slithery

firstbuyer said:

Slithery said:

firstbuyer said:

we now have a family member as a cash buyer (remortgaging her current property)

She isn't a cash buyer if she needs to remortgage. A cash buyer is someone who has the full purchase price already in their account.

Is she not? Her remortgage was approved today. The way it was explained to us is the funds would be there in full in the next week or too therefore she could purchase as a cash buyer as her remortgage is no tie to the property she’s buying?

When she has the funds in her account then she'll be a cash buyer.
Until then she isn't.

Homebuyer1973

Does anyone know what the turn around is on valuers getting a valuation back to a lender? Also is there a trend at the moment for valuations coming back at less than what was offered.  We offered £353000 on at house in late Aug. Zoopla now saying mid range value £348000. I know it’s not a massive difference but I am aware how things have changed in some areas. Also valuer spent an hour at the property, is this normal? I’ve never experienced a valuer spending that long in a property before. The house was only built 25 yrs ago so I’m just curious as to why they would spend an hour at the property. We are putting a 42% deposit down Thanking you all in advance. 

Slithery

Homebuyer1973 said:

Zoopla now saying mid range value £348000.

Zoopla estimates are irrelevant, you'd get a more accurate valuation by waving your finger round in the air.