The NEW waiting to exchange thread...

Laurelii

Laurelii said:

Laurelii said:

Chooru said:

We exchanged today! I have to say, I thought it was never going to happen. Will complete early January! 

09/09/2021 Offer accepted
20/09/2021 Mortgage lender/ bank valuation came back
06/10/2021 Our sellers offer on a house got accepted
16/11/2021 Solicitor searches came back
22/11/2021 Mortgage offer issued 
20/11/2021 Email from our solicitors stating our sellers seller is 'significantly behind'
27/12/2021 Asked how our seller xmas was while asking about their seller. She stated 'as far as she knows' their seller is moving into rented accommodation. 
31/12/2021 > 2022 Hopefully after the new year things start moving!!!!! 

our is taking ridiculously long! our mortgage offer expires 27th Feb 2022 and i have asked our mortage advisor if there is a possibilty in extending and she said that a new mortgage offer would have to be issued. UGH. 

04/09/2022   Called the EA yday for some updates about the chain. They said the sellers are waiting on a few more enquiries from the people they're buying from. EA said our sellers seller is going into rented and that exchange/ completion should be end of Jan 2022!!! EA said they will contact me at the end of the week or next with updates. Things are looking promising

07/01/ 2022  Our seller has said this to us today !! see attached photos ... promosing??!! hopefully the snail mail hurrys up !
 

Moneybear

I've chased my solicitor and EA for an update but nobody has got back to me yet so looks like I won't hear back before the weekend. I'm really hoping things start to get moving next week now. Completion anytime end of the month to during Feb half term week would be perfect for us so I'm keeping my fingers crossed. 

RS2OOO

Not sure what's going on in my situation.

3 chain-agreed completion dates have now past.

My buyer, his mortgage broker and his solicitor take days to respond to correspondence and when they do respond they refer to the same issue that they said had been resolved on 29th November.

That issue being that my buyer "is attending to matters with his lender surrounding proof of source of his gift deposit".

It doesn't seem right to me that this can take so long to resolve considering my buyer is buying as a company and using a BTL mortgage and has a small portfolio of companies and properties.

As I've said before, I really don't know if the next phone call will be "We're exchanging contracts" or "The chain has collapsed".

More questions than answers... Why have exchange and completion dates been agreed on 3 occasions if this issue hasn't been resolved?

And my worst concern - does my buyer actually have any intention of going ahead with the purchase or is he dragging it out waiting for someone else to pull out and collapse the chain so he can avoid paying his Solicitors fees that maybe he'd be liable for if he pulled out?

I really don't know what's going on, but gradually the boxes we are living out of are gradually becoming unpacked as we come across things we need. Had to open 6 boxes just yesterday while hunting for Hoover bags, and still didn't find them so had to shake old bag over the bin and re-use.

Just want answers now.

Croon979

Things seem to finally be moving for us - fingers crossed.

Our lawyers have now received the contract pack from the vendors lawyers. The mortgage documentation and offer has come through - all as expected. Final searches have been ordered and enquiries being raised. 

Neither us or the vendor is in a chain. We have the deposit ready to go. We have always talked about completing by the end of January but we are in no particular rush and would be happy with completion any time between January and February.

My main priority is to try to get to exchange sooner rather than later so I can start ordering furniture and stuff within the January sales window 😁. 

We have been waiting so long for a move to a house that will suit our needs more. I am really excited for 2022!!

Slithery

Croon979 said:

My main priority is to try to get to exchange sooner rather than later so I can start ordering furniture and stuff within the January sales window 😁. 

Whatever you do, don't get anything on credit.

Croon979

No I am fortunate that we have waited so long to buy this darn house…..we have a good budget already saved for some new furniture purchases 

cosh25

After having my offer accepted on the 15th October (I’m FTB, house is empty no chain) everything stopped when enquiries were raised at end of November.

Finally managed to get definite answers from my solicitor last week who confirmed the sellers solicitor returned answers to 4 out of their 7 enquiries on 2nd December then stopped replying although I am not convinced my solicitor did enough chasing. I said I wanted to know exactly what the 3 outstanding enquiries were so I could go to the estate agent to tell the seller to speed their solicitor up. Long story short the sellers solicitor had the 3 outstanding documents since November, but just didn't send them. Safe to say myself, the seller and estate agent were a but annoyed by this.

Still hoping for exchange and completion within the next 2-3 weeks… we’ll see!

jdsimmons3

cosh25 said:

After having my offer accepted on the 15th October (I’m FTB, house is empty no chain) everything stopped when enquiries were raised at end of November.

Finally managed to get definite answers from my solicitor last week who confirmed the sellers solicitor returned answers to 4 out of their 7 enquiries on 2nd December then stopped replying although I am not convinced my solicitor did enough chasing. I said I wanted to know exactly what the 3 outstanding enquiries were so I could go to the estate agent to tell the seller to speed their solicitor up. Long story short the sellers solicitor had the 3 outstanding documents since November, but just didn't send them. Safe to say myself, the seller and estate agent were a but annoyed by this.

Still hoping for exchange and completion within the next 2-3 weeks… we’ll see!

Same situation! First enquiries were raised on 24/11. Received answers on the 23/12. 

My solicitor wasn't happy with a few answers so asked for additional information. (Haven't heard back)

I then asked her too add another question on the 28/12.

Still nothing.

I will call estate agent tomorrow as I don't want to wait 4week for the answers. House is unoccupied, everything else is ready, just want to exchange contracts so we can start planning to actually move!

RS2OOO

Seems to be not uncommon that some enquiries get "forgotten" about.

novelle

enquiries can take a long time.

Sometimes the buyer takes a long time to answer.

Sometimes the buyer's solicitor have the answer but just "too busy" (or forgotten...) to send them over.

Sometimes it's your solicitor "too busy" to do it. 

The enquiries and answers have to go through several parties , and this back and forth communication is just too frustrating ! I hated it when i was doing mine.