The NEW waiting to exchange thread...

justcat01

trance_abbey said:

I've exchanged!!! I got the news last evening at about 5:30 and we are apparently completing today.

What a slog!

I've got the builders booked to come on Tursday to give me an estimate of how long it'll take to get the big jobs done so I can start working out when to give notice on the flat I'm renting.

What great news!

Unfortunately for us, next Monday is officially off the table.

We have now signed the deeds, TR1 and contract and are taking them into the solicitors office today.

So our buyers are ready to go and so are we. It's down to the vendors solicitor now who is *still* waiting for replies on their enquiries for their (chain free) onward purchase!
It's just so frustrating! The thing is, I know that our vendor is ready to go! She wanted to complete this Friday, Monday or Tuesday. I'm going to speak to the EA to let them know that the vendor needs to chase her solicitor as there's nothing more that I can do. We're the only ones with a mortgage to draw down, so we'll need to have at least 5 days notice to complete.

We've now said that our next available date to complete is Monday the 6th December.

charlotteo1988

We have the septic tank survey this afternoon. Supposed to be yesterday but of course nothing is going right with the house sale and chain so it got cancelled and rearranged for today. 

I sent a email to the Vendors estate agent explaining I’m not just plucking out of thin air that we want to complete before Christmas. And explained my sons new nursery only take on in September January and April so he won’t be at nursery for 4 months if we can’t move before Christmas and our buyer mortgage application runs out in January aswell. They have passed it on to the top of the chain estate agents who said they will ensure this is relayed to their client and the solicitors so fingers crossed the solicitors do pull their fingers out and really push to complete. 

Gut feeling we won’t complete until January but at least I’ve tried to push forward with it as much as i physically can.  

On that note I will probably but my Xmas tree up next weekend. 

greensalad

A few weeks ago we were supposed to be exchanging this week. And now everyone seems to have gone quiet after a flurry of activity! Fingers crossed, maybe next week?

rdixon555

We have been trying to buy a property since March this year, and have had 2 property's fall through due to slow buyers. We are first buyers currently renting.

We are supposed to be completing next Wednesday, and haven't exchanged yet - this is due to waiting on the bank to say they're happy to proceed with a clause on a rent charge (which we knew nothing about, along with the ea). I guess the vendors sols should have told ours at the start, then this problem would have been sorted earlier?

For me the whole process of buying a property is slow and entirely outdated. Never moving again.

Anxiously waiting.

kezzygirl

Can I join?  
We are awaiting responses to enquiries for the house we are buying and also an amended tr1 and contract detailing our full names and then we should be setting a date for exchange and completion. Our buyer is just awaiting her mortgage offer following valuation on our property  (on which they reduced the price by 5k last week) so fingers crossed this hurries up.!

Schwarzwald

Schwarzwald said:

10 month into my first property purchase.

London, leasehold, property is vacant, I am FTB, overall should not be toooo complicated one would expect.

I realize though that I got pretty unlucky and probably tick many boxes of the things that can go wrong:

Very difficult and generally dishonest vendor, survey came back with substantial findings that needed proper investigations, vendor dropped out, then came back again 24 hours later, vendor ultimately lacking certain key documents, which had to be organized during the process (took 3 months), poor conveyancing, slowly responding landlord and management company that mixes up documents, …

We have failed three (!!) times now to exchange on the dates envisioned, and I am pretty speechless by now how difficult the UK property purchase process is.

Apparently we are now aiming to exchange and complete next week, but I try to not expect anything anymore until papers are actually signed.

Have considered multiple times to drop the purchase but incrementally there was always more upside than downside to keep going.

While I approached this process v rationally and with an investor mindset, I cant lie that this process has been v daunting and exhausting. 

Right now looking at pre-packed boxes as removal company was planned to come today … fingers crossed some movement next week ….

Exchanged and completed today 10 months + 1 day after sending my Offer!

Never expected this to be so cumbersome, lengthy and draining ...

LizaVCook

Congratulations!!

esubbs

Congratulations @Schwarzwald

I'm starting to get a bit anxious now. My solicitor has still not heard anything from our buyer's solicitor since they found a new buyer for their sale. All info has come from the estate agent who said they wanted exchange last week. We've given a deadline of next Friday (3rd) for exchange if they still want to complete before Christmas but I'm sure my solicitor will need a few days to get things in order before exchange? Update contract with the fixtures and fittings they want to buy etc. I've no idea what they'll need to finalise or how long that will take them?

Plus the later they leave it, the less likely we'll be able to get long distance removals etc. 😵😵😵

Otb21

The current property we are trying to buy is coming to final stages. We are waiting for final enquiries to come back and some amendments to contract. 

Our seller's solicitor has agreed Friday 10th December for her onward purchase and we are aiming for that too. As of yet though, we have received not a single bit of paperwork from our solicitors regarding anything. All we know is what the vendor has told us in our communication, which has been very helpful. 

We have asked our solicitors though if they see any reason why the 10th December would not be do-able and they have said it will be fine but it just seems so strange that we are expected to wait all of this time and then right at the last minute potentially be sent loads of information that we do not know about? 

Next week will be less than 2 weeks until we are scheduled to complete and yet we haven't even seen a copy of the title plan or the property information form...we have queried this and they said they wait until all enquiries, searches, etc are back before issuing us with a report on title. 

Yet, in our last (failed) purchase which they were handling for us, as soon as draft contract pack came in, they sent it to us straight away to check over and gave us the opportunity to raise anything with them such as if the garden boundary wasn't as expected, etc and that was before the searches or enquiries had come back... It just seems like we could be sent this report and all of a sudden a load of issues could crop up that we need to figure out at the very last minute. 

I think part of the issue is we have had several bad experiences with land issues and sellers pulling out so we have tried our best to give ourselves as much 'buffer' time as possible to sort anything.  I guess we just have to trust the solicitor when they turn around and tell us the 10th December will be fine. 

This time (4th attempt at purchasing this year) our vendor has been fantastic and communication has been brilliant which has definitely helped things and so that has helped calm our nerves a bit though as we enter the final two weeks of the purchase it would be good if before we start handing over all our money for something we could actually get some information that gives us some confidence in our purchase...

Best of luck to everyone completing over the next few weeks, it is a busy time of year but it will all be worth it! 

LizaVCook

Confirmation today that we exchange and complete on December 2nd. Week today!! So much to do until then and I’ve heard horror stories of exchanging and completing it on same day.