The NEW waiting to exchange thread...

Laurelii

Laurelii said:

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 << 04/01/2022

07/01/2022 The EA said to our sellers "The buyers solicitor has now answered all enquiries and have contacted your solicitor to                     confirm receipt" - EA said the sale of our property is ready to go
10/01/2022 Me and my partner agreed to put the our 2 months notice in on 20/01/2022 meaning we would be out of the flat by                         20th March 2022
11/01/2022 Got served a section 21 notice from the landlord stating we need to be out of the flat by 13th March 2022
11/01/2022 Sellers solicitor has asked their onward purchase a few things paperwork wise, once these come back were ready to                     go
12/01/2022 We signed some paper work ready for exchange and was told we're looking at January 28th for completion!! I asked                     the seller if this date would be ok with them and they said yes, its all down to their onward purchase if they agree this                     date also! ( fingers crossed) 
13/01/2022 Started packing most of our clothes, XMAS stuff in boxes and emptying drawers!
14/01/2022 Seller said they're dropping paperwork off at their solicitors today 

17/01/ 2022 Completion date apparently aiming for 28/1 I am extremely eager to exchange contracts now. our sellers agreed to 28/1 also ! now just hoping the top of the chain will be agreeing on that date also. I have emailed our solicitor for updates. I am feeling excited, stressed and nervous all in one 

me + 2 others in the chain

firstbuyer

firstbuyer said:

firstbuyer said:

firstbuyer said:

01/12 - Offer Accepted / Sols Instructed
02/12 - Revised property change form submitted to natwest
09/12 - Mortgage offer received
24/12 - Draft contracts received

Then everything went a little cold! Have had confirmation my buyers solicitor has received some answers to enquiries but not all. Not sure if searches have been ordered on our onward purchase or if any enquiries have been raised.

Rang Target today to check our docs and money for redemption were all received OK, they asked me to resend the email and now wait 5 days as it wasn't showing on their end.. give me strength.

Onward purchase sellers have asked for a completion date of 22nd Feb... our chain is tiny with it being them us and our buyer.

Just still doesn't feel like it's moving quick enough to hit the 22nd Feb 

06/01 Homebuyers report received / searches back


Woop! Solicitor has said all enquiries have been answered for my buyers, but has yet to raise enquiries with our onward purchase.

Still waiting for our redemption from Target H2B, still not sure why it's so difficult to pay back!

Now time to ponder the HUGE list of things we need to do to the property and prioritise what is a necessity. Reminding ourselves that it will be worth it long term :')

12/01 confirmation most of the 30 ish enquiry responses have been received by my buyer
13/01 redemption certificate received from HTB


We viewed the house again yesterday to measure up and I overly excited myself a little too much!!

Still no news on my solicitor raising enquiries yet, but he does like to do things and not update for a while so hoping he has and just hasn't updated! Vendors have confirmed their flights are booked for 22nd feb and want to complete around that date - still crossing all my fingers and toes we'll be in next month.

17/01 enquiries raised with onward purchase

We now have 5 outstanding enquiries with my buyer which are simple and should be responded to fairly quickly just a waiting game of my solicitor responding!


Completion of 22/02 looking a little more comfortable now

When is exchange likely to happen? Is it just after all of the enquiries are done?

RS2OOO

Whilst still waiting confirmation buyer is ready to exchange, with indications it should be this week, we popped down to have a quick look at new house, you know, just to make sure its still standing before exchanging contracts.

Well, its a semi and we discovered next door have erected scaffolding around their entire property, some of which is in our future garden! Neighbours came out and admitted they thought sale had fallen through and that they'd get away with it etc and can have it removed before completion etc. Fair enough, the property isn't ours yet so not a big deal.

But the work they are doing is a loft conversion so now I've had to raise another enquiry to check what, if any, party wall agreements are in place. I suspect seeing as our future home has been empty since September it is unlikely any party wall agreement is in place. 

If it isn't, I'm not really sure what to do, and certainly don't want to be falling out with neighbours before even moving in.

jdsimmons3

Our final enquiries have been answered! My Solicitor emailed me the replies and shes happy with them as are we. She didn't mention exchange though. I've emailed back asking what's the next step as I believe everything is ready searches, fixtures and fittings, title etc. So how long can I expect to wait for an exchange date. I won't get a reply today as she emailed 5minutes before closing! Really impatient now!

Zetlandroad

Is same day exchange and completion still the norm with covid, or have chain transactions generally reverted back to having a week or two gap?

CBat

I'm a first time buyer waiting to complete on our purchase. We're in the process of agreeing a completion date, but there's been no discussion about exchanging contracts. Our solicitor said they'll send me a pack at the end of this week, but I don't know if this will be the contract (I've asked but they only respond to emails on Thursdays). What are other FTB experiences please? 

firsttimespender

Agreed the deal to go for with my mortgage advisor this morning… now to wait 2-3 weeks (AARGH) for the answer! Any advice on the best time to book my survey? It’s an older house so I’m planning to get the level 3, which is expensive so I don’t really want to incur any costs until I’m sure the offer is coming (I’m a bit worried about downvaluing and my financial position). But I also don’t want to wait 3 weeks for an offer and then find it’s weeks and weeks to get the surveyor out. 

RS2OOO

CBat said:

I'm a first time buyer waiting to complete on our purchase. We're in the process of agreeing a completion date, but there's been no discussion about exchanging contracts. Our solicitor said they'll send me a pack at the end of this week, but I don't know if this will be the contract (I've asked but they only respond to emails on Thursdays). What are other FTB experiences please? 

Once all have signed returned contracts then the completion date will be agreed across all in the chain, then contracts exchanged to make the agreed completion date legally binding.

MickeyFTB

Looking for some advice. 

Our mortgage is due to expire at the end of January - we may be able to get an extension but only if we have a completion date to extend too.

We’ve been pushing for completion since September with one person holding the chain up - we’ve had an update that they may be willing to set a date but it’s likely to be end of February.

If we exchange, what if the mortgage company doesn’t offer an extension? Will we lose our deposit if we can’t get another mortgage secured in time for the completion date?

Laurelii

firsttimespender said:

Agreed the deal to go for with my mortgage advisor this morning… now to wait 2-3 weeks (AARGH) for the answer! Any advice on the best time to book my survey? It’s an older house so I’m planning to get the level 3, which is expensive so I don’t really want to incur any costs until I’m sure the offer is coming (I’m a bit worried about downvaluing and my financial position). But I also don’t want to wait 3 weeks for an offer and then find it’s weeks and weeks to get the surveyor out. 

my house im buying got downvalued by £10k, me and the seller came to an agreement of the sale price and now turns out ill be saving about £8k over 26 years. Our completion date is aiming to be 28/1