The NEW waiting to exchange thread...

Natrc

Found out this morning that we exchanged yesterday just before the solicitors closed. 

Completion set for Tuesday 14th. 7 weeks 2 days from offer to completion. 

Fingers crossed it's plain sailing on Tuesday now 🤞

Homebuyer1973

So here’s our timeline:

19th April: listed house for sale
20th April: house sold for full asking price
23rd April: offered full asking price on dream home which was accepted
5th May: my dad and I accept an offer on a house we jointly own and that we decided to sell
13th July: buyer 1 pulls out after 11 weeks
20th July: house sold to cash buyer 2
21st July: vendor to continue with sale but wants daily updates and our lender agrees for use to use deposit from 2nd property 
5th August: Vendor threatens to pull out
13th August: it’s discovered that our buyers of property 2 conveyancer has not sent local searches showing PRoW to their lender causing a 4 week delay.
24th August: our vender finally pulls out. Takes property off the market and relists with another agent for another £25k
28th August: we find another house and have our offer accepted (house chain free)
10th Sept: 2nd property finally completes
14th Sept: New specialist mortgage applied for
23rd Nov: Mortgage offer comes through
9th Dec: We exchange with our cash buyer and our onward purchase
10th Dec: WE COMPLETED!!!!!!

To say I’m happy is an understatement!!!! Good luck to all of you who are still waiting to exchange/complete. 

Chooru

So after our previously agreed completion date was cancelled just before exchange, because it seemed that for some reason, it was only agreed with half the chain, we have a new completion date of next Friday! Somewhat close to Christmas, but I'm just happy that it's all going to be over with soon. 

So stressful. 

EB14

Ah I’m so excited I’ve found this thread! 

After what feels like a nightmare I think we are just about ready to exchange but now I’m worried that it’s too close to Christmas and the rest of the chain won’t want to move until the new year and I’m slightly tearing my hair out over it all! Here’s our rough timeline:

18.08- my house listed 
23.08- Found dream house but told it’s had overwhelming interest. 

26.08- Second viewing of dream house and put in an offer. Told it was going to beat and final offer by 30th. 
27.08- Amazing offer accepted on my sale.
30.08- told there had been higher offer so we submitted our best and final. Then told the seller wanted to think about it over night. 

31.08- Solicitors appointed
01.09- offer accepted!! 

11.09- Mortgage agreed 
10.10- Told our buyer had decided to switch mortgage and the new provider had grossly undervalued the house and they were now questioning their original offer
13.10- buyer agrees to continue with purchase at agreed price with another lender. 

20.10- told the purchasers new lender wouldn’t work with his solicitors so they had to appoint someone new. At this point was told searches hadn’t even been applied for. 

05.11- all searches for our onward purchase received 
Throughout Nov - our solicitors struggling to get any response from our buyers solicitors. 

6.12- finally received search report but still told there was missing paperwork from our buyers solicitor. 

09.12- all signed paperwork returned to solicitor. 

So now just waiting all weekend to hopefully firm up dates on Monday for exchange and completion. 

So frustrating because from the outset we have said we want to be moved before Christmas due to work commitments in the a New Year. Even though most of the delays have been because of our buyers, they have been very vocal about wanting to be moved before Christmas. 

I’m really really hoping that we can exchange next Tuesday and Complete on Friday- Someone please tell me I’m not being too hopeful!   

MsACam

Unless you draw down on your mortgage now I’m not sure you can exchange on Tuesday and complete on Friday as there’s no guarantee the bank will send the mortgage money quick enough! 

justcat01

I had confirmation that thebmoney was arriving on a certain date before we had exchanged. It should be enough time for completion, but how many people are in your chain?

EB14

The last day for completions for our solicitors is the 22nd and there are 4 in the chain. 

My friend exchanged last Thursday and is completing Tuesday. I suppose it’s just getting everyone in the chain to agree to move before Xmas. 

Fingers crossed! 

justcat01

EB14 said:

The last day for completions for our solicitors is the 22nd and there are 4 in the chain. 

My friend exchanged last Thursday and is completing Tuesday. I suppose it’s just getting everyone in the chain to agree to move before Xmas. 

Fingers crossed! 

It'll also depend on last completions for the others in your chain.

Do you know the status of the other parties in your chain?

Otb21

We’re finally in! 

Got the keys on Friday afternoon. We completed at around 9-10 am but I had a morning full of meetings so I wasn’t taking any calls. Of all the days, typical! 

We’ve been sorting through boxes that we packed and have had in storage for a year. We have forgotten how much stuff we packed. Fun begins today with furniture being transported and officially moving in today. 

Some of you may have seen a couple of my previous posts in this thread. This was purchase number 3 (number 4 technically) for us after selling our house in November 2020 and completing on that sale early 2021. 

We’ve been living with family whilst trying to navigate a very slippery property market. The first house we are actually pleased that we were forced to pull out due to legal and land issues as it just wasn’t the right area for us. The second fell through once after it was down valued by over a hundred grand and then a few weeks later we received a call accepting our revised offer. Unfortunately, a couple of months later the seller ended up withdrawing the property from the market. 

Finally, the property we have ended up buying has gone through relatively quickly. Our offer was accepted early October and we’ve completed second week of December. The biggest wait was for the mortgage valuation which took a month for an appointment. Our searches came back within 4-5 working days - still not sure how we managed to be so lucky there! 

Sincerely wish all of you the best as you continue the process.

Merry Christmas! 

greensalad

My vendors are now abroad for most of December. They've agreed with their solicitor to authorise exchange from abroad, but I'm worried more about the fact that they may not be pushing as hard if they're distracted by family visiting/holidaying. We are ready to exchange, but waiting on all the last bits and pieces for their sale. Also my sales progressor (who has been amazing) is going on annual leave this week until January I only hope the stand-in is as good as her.

We had initially hopped to exchange two weeks ago. Then last week. Now this week?