The NEW waiting to exchange thread...

mrsammyp

We were due to exchange today (as planned for the last two weeks) but at 4pm found out that the buyer's 'cash buyer' turns out to have another sale on the go that they were trying to tie into the chain, so frustrating!

They are now drawing down on personal funds to exchange independently next week. 

RS2OOO

Yet another week gone and still not exchanged.

The email forwarded on Tuesday morning from buyers solicitor stated:  "Our client has, thankfully, ironed out the issues with their lender. We are just waiting for their written confirmation they are happy to proceed"

My Solicitor chased buyers solicitor again today to be told they are still waiting this confirmation from the lender to proceed.

This has been going on for weeks now (first came to light 29th Nov), leaves you wondering, how long should it take buyers lender to send this confirmation? You'd expect maybe 2 or 3 working days, so again, my mind is all over the place, and yet another weekend off work sitting around wasting time when I'd rather be re-packing and re-boxing stuff!

tempacc9423

Gonna chime in here with my story.

Initially viewed the property in June of last year. Got offer accepted on the 15th of June.

Latest update is that we are waiting for some documents from the solicitor that dealt with the initial sale of the land. We have been waiting for this document since the end of November.

ccbrowning

More drama. Ugh.

Contract came with the last set of docs such as TP1. The boundary is wrong for my property, though. It’s a new estate with some shared access road and what looks like a path (on the TP1), both of which are coloured as 'shared ownership' by our management company. The proposed site plans show that path area described as "provisional path for accessibility to adjacent site'. However, the shared access path doesn’t actually exist on site and the property we are buying has land which looks like it goes past the path and is fenced off On the site there are two electrical boxes on the other side of my fence, so you'd assume that is the shared portion anyway?

Two days and no response from the seller’s solicitor when we asked what is going on. The developer said that there is no shared access or path, but obviously it matters what is explicitly in the plans and TP1?

jdsimmons3

ccbrowning said:

More drama. Ugh.

Contract came with the last set of docs such as TP1. The boundary is wrong for my property, though. It’s a new estate with some shared access road and what looks like a path (on the TP1), both of which are coloured as 'shared ownership' by our management company. The proposed site plans show that path area described as "provisional path for accessibility to adjacent site'. However, the shared access path doesn’t actually exist on site and the property we are buying has land which looks like it goes past the path and is fenced off On the site there are two electrical boxes on the other side of my fence, so you'd assume that is the shared portion anyway?

Two days and no response from the seller’s solicitor when we asked what is going on. The developer said that there is no shared access or path, but obviously it matters what is explicitly in the plans and TP1?

We're waiting on a reply to a similar enquiry! Title shows an alley behind the garden and the neighbouring property. But when we veiwed there was no alley! We assume the fence has been moved back! His first answers were I don't know 🤷 solicitor has asked again. Soon as we understand that situation were ready to exchange! It was asked over a week ago!

Jedi_knight

We had our offer accepted last March, and we're in a chain of 6 properties.

Everybody but one transaction in the middle is ready to go, but that transaction is taking forever. Despite the buyer in that transaction having their offer accepted in July and despite the fact that the chain has been complete since September, the buyer has this week decided they want to have a survey! Starting to lose faith that we'll get to the finish line.

jdsimmons3

Just emailed my estate agent to chase the sellers solicitors. Shouldn't take 10days to answer a question!

Laurelii

does everyone in the chain have to exchange on the same day at the same time ? me and my partner are at the bottom of the chain so do we decide the time and date to exchange ? 

ccbrowning

jdsimmons3 said:

Just emailed my estate agent to chase the sellers solicitors. Shouldn't take 10days to answer a question!

Good luck. Seller’s estate agent just blew me off and doesn’t even see why I care since the developer said it’s fine?!?

Waunakee

Laurelii said:

does everyone in the chain have to exchange on the same day at the same time ? me and my partner are at the bottom of the chain so do we decide the time and date to exchange ? 

 It is the “norm” for all parties to exchange on the same day as in most cases the deposit needs to be passed up the chain.However there are circumstances where this may be not the case.

You do not decide the time and date.You wait for everyone to be ready to exchange then its a case of negotiation between all parties to agree dates for completion and exchange.