The NEW waiting to exchange thread...

mrsammyp

sheffield_soldier said:

So today is the day of completion!

What I will say to people just starting the process is that this thread is likely scare the hell out of people. It doesn't have to be so daunting.

I think I must have a recent record timeframe.

15/10 - Offer Accepted
18/10 - Solicitors Instructed
19/10 - Mortgage Application Submitted (Nationwide)
02/11 - Mortgage Offer Received
04/11 - Searches Complete
09/12 - Documents Signed
16/12 - Mortgage Money received and Exchanged Contracts
17/12 - Completion Day

Less than 2 months to complete. I must admit it feels like about 6 months and I have lost a lot more hair and gained weight from the additional wine!

One bit of advise - Do not just wait and hope/expect everybody is working on your case. I made at least 2 calls a week for updates so that they can not forget about me. Always polite and firm in some instances. It clearly helped push them along.

Good luck everyone else.

Congratulations, that seems pretty quick.

Also agree, have been making at least a couple of calls a week to ensure the process if flowing. Everybody will get sick of you but it's worth it! 

firstbuyer

sheffield_soldier said:

So today is the day of completion!

What I will say to people just starting the process is that this thread is likely scare the hell out of people. It doesn't have to be so daunting.

I think I must have a recent record timeframe.

15/10 - Offer Accepted
18/10 - Solicitors Instructed
19/10 - Mortgage Application Submitted (Nationwide)
02/11 - Mortgage Offer Received
04/11 - Searches Complete
09/12 - Documents Signed
16/12 - Mortgage Money received and Exchanged Contracts
17/12 - Completion Day

Less than 2 months to complete. I must admit it feels like about 6 months and I have lost a lot more hair and gained weight from the additional wine!

One bit of advise - Do not just wait and hope/expect everybody is working on your case. I made at least 2 calls a week for updates so that they can not forget about me. Always polite and firm in some instances. It clearly helped push them along.

Good luck everyone else.

This gives me a little bit of hope for our est completionn date of 22nd Feb

01/12 - Offer Accepted / Sols Instructed
02/12 - Revised property change form submitted to natwest
09/12 - Mortgage offer received

no updates, no contracts received, no searches ordered 

and now we wait... 

RS2OOO

RS2OOO said:

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 procedable 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.

Finally Exchange was planned for Monday 13th with Completion agreed throughout the chain for Friday 17th (today).

Monday: Failed to exchange as buyers Solicitor uncontactable. My Solicitor applied for Mortgage funds.

Tuesday: Buyers Solicitor finally contacted and stated they need to query something with buyers lender, but still good for Friday completion. 

Wednesday: Last of 6 removals firms calls to say Friday slot needs paying for as other customer interested. I can't commit. 2 of 6 removal firms have slots available for Tuesday 21st so I go back to Sol to explain and she gets agreement across chain for revised Tuesday 21st Completion. We fail to exchange again as lender hasn't responded to buyers Solicitor.

Thursday: Buyers Solicitor uncontactable. 10:30am I get call from one of 2 available removal firms stating Tuesday's slot has now gone. 16:45 I get a call from 2nd removal firm saying another customer wants their last available slot and I have 15 mins to commit and pay if I still want it. I try to contact solicitor and progressor for update but no answer, I lose the slot. Ring all 6 firms I've been in touch with and all now fully booked until New Year. 

My Solicitor calls back, says she doesn't know what's going on with buyers solicitor as they're so hard to contact and don't return calls. She says she'll now have to return my Mortgage advance to lender but will continue attempts to exchange contracts.

Later she CC's me into email requesting chain to revise completion to 6th Jan and requests all parties to agree on exchange before Xmas to ensure removals etc can be booked.

I open bottle of Baileys and start unpacking Christmas stuff.

MzH_2021

Just joining the thread, mortgage approved, searches back, seller's have sent all their info to our solicitors. Just waiting on enquiries now, going so fast, only had offer accepted 5 weeks ago!

badger09

RS2OOO said:

RS2OOO said:

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 procedable 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.

Finally Exchange was planned for Monday 13th with Completion agreed throughout the chain for Friday 17th (today).

Monday: Failed to exchange as buyers Solicitor uncontactable. My Solicitor applied for Mortgage funds.

Tuesday: Buyers Solicitor finally contacted and stated they need to query something with buyers lender, but still good for Friday completion. 

Wednesday: Last of 6 removals firms calls to say Friday slot needs paying for as other customer interested. I can't commit. 2 of 6 removal firms have slots available for Tuesday 21st so I go back to Sol to explain and she gets agreement across chain for revised Tuesday 21st Completion. We fail to exchange again as lender hasn't responded to buyers Solicitor.

Thursday: Buyers Solicitor uncontactable. 10:30am I get call from one of 2 available removal firms stating Tuesday's slot has now gone. 16:45 I get a call from 2nd removal firm saying another customer wants their last available slot and I have 15 mins to commit and pay if I still want it. I try to contact solicitor and progressor for update but no answer, I lose the slot. Ring all 6 firms I've been in touch with and all now fully booked until New Year. 

My Solicitor calls back, says she doesn't know what's going on with buyers solicitor as they're so hard to contact and don't return calls. She says she'll now have to return my Mortgage advance to lender but will continue attempts to exchange contracts.

Later she CC's me into email requesting chain to revise completion to 6th Jan and requests all parties to agree on exchange before Xmas to ensure removals etc can be booked.

I open bottle of Baileys and start unpacking Christmas stuff.

Oh, that is heartbreaking for you. The whole process is incredibly difficult & stressful, even when everyone involved is totally committed and honest.

I can't really offer anything other than sympathy, but didn't want to read & run. Really hope you manage to exchange before Christmas. If its any consolation, we spent last Christmas surrounded by boxes and minimal furniture as we'd already donated most of ours. It was very low key, but not too bad as we'd at least exchanged on our sale, which was always our priority.

RS2OOO

badger09 said:

RS2OOO said:

RS2OOO said:

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 procedable 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.

Finally Exchange was planned for Monday 13th with Completion agreed throughout the chain for Friday 17th (today).

Monday: Failed to exchange as buyers Solicitor uncontactable. My Solicitor applied for Mortgage funds.

Tuesday: Buyers Solicitor finally contacted and stated they need to query something with buyers lender, but still good for Friday completion. 

Wednesday: Last of 6 removals firms calls to say Friday slot needs paying for as other customer interested. I can't commit. 2 of 6 removal firms have slots available for Tuesday 21st so I go back to Sol to explain and she gets agreement across chain for revised Tuesday 21st Completion. We fail to exchange again as lender hasn't responded to buyers Solicitor.

Thursday: Buyers Solicitor uncontactable. 10:30am I get call from one of 2 available removal firms stating Tuesday's slot has now gone. 16:45 I get a call from 2nd removal firm saying another customer wants their last available slot and I have 15 mins to commit and pay if I still want it. I try to contact solicitor and progressor for update but no answer, I lose the slot. Ring all 6 firms I've been in touch with and all now fully booked until New Year. 

My Solicitor calls back, says she doesn't know what's going on with buyers solicitor as they're so hard to contact and don't return calls. She says she'll now have to return my Mortgage advance to lender but will continue attempts to exchange contracts.

Later she CC's me into email requesting chain to revise completion to 6th Jan and requests all parties to agree on exchange before Xmas to ensure removals etc can be booked.

I open bottle of Baileys and start unpacking Christmas stuff.

Oh, that is heartbreaking for you. The whole process is incredibly difficult & stressful, even when everyone involved is totally committed and honest.

I can't really offer anything other than sympathy, but didn't want to read & run. Really hope you manage to exchange before Christmas. If its any consolation, we spent last Christmas surrounded by boxes and minimal furniture as we'd already donated most of ours. It was very low key, but not too bad as we'd at least exchanged on our sale, which was always our priority.

I do appreciate the sympathetic reply - not sure why, it somehow has a calming effect to know I'm not the only one going through it or who has gone through it.

No response from buyers Solicitor again today - Hard to know whether to spend the weekend continuing with packing of non-essential items, removing fixtures that I've left in situ awaiting exchange of contracts, taking valuable breakables to storage unit, and taking stuff to the dump that the buyer doesn't want etc. The alternative is to sit around doing nothing all weekend.

Sales Progressor said she we are one of 3 chains on the books where pre-Xmas Completions had been agreed, and she's chased solicitors all day and got nowhere with any of them, all in limbo.

KeepOnKnitting

Offer made on 18th November. Accepted 19th November. Draft contract STILL not received by my solicitor. Sigh. 

Maybe this is why their previous sale fell through...

novelle

@RS2000 wow this is so stressful and frustrating.  What isgoing on with the buyer's solicitor ?!

@firstbuyer i hate the wait, but maybe email or give a call tothe solicitor or EA to see what is the status ?  

@MzH_2021 fingers crossed for you everything goes smoothly. Enquiries can take a bit of time.

RS2OOO

novelle said:

@RS2000 wow this is so stressful and frustrating.  What isgoing on with the buyer's solicitor ?!

Who knows?

Buyers solicitor (as advised by my proggressor): We've identified a need to check a section of wording on mortgage offer before exchanging.

My solicitor: They could still go ahead and exchange, what they are checking is a very standard point, but they are useless and feel the need to hold up chain to do nothing more than cross some Ts. This is nothing to worry about.

My Buyer (via proggressor): I think Solicitor is waiting for mortgage lender to give green light and release funds.

My Wife: I've not got a good feeling about this, surely if it's such a simple query and lender knows a chain is waiting to exchange why is it taking over a week for them to respond?

Me: Praying my solicitor is right and my wife is wrong.

My financial costs against the sale/purchase so far are in excess of £2500 including storage costs at £400 pcm, and these are nothing compared to the emotional stress - 3 nights in a row this week I was still awake at 3am.

Just want to exchange before Xmas and  know we are getting out of this house/area!

KeepOnKnitting

RS2OOO said:

My financial costs against the sale/purchase so far are in excess of £2500 including storage costs at £400 pcm, and these are nothing compared to the emotional stress - 3 nights in a row this week I was still awake at 3am.

Just want to exchange before Xmas and  know we are getting out of this house/area!

Keeping my fingers crossed for you. Try to work in some self-care to help your sleep. Write out your worries, warm bath, milky drink, audiobook, dark bedroom with no TV. I know I have to be strict with myself when I am stressed too and those things work for me to help me sleep.