The NEW waiting to exchange thread...

ccbrowning

Looks like my purchase's boundary issues are not issues and all is cool. I think we'll all be able to agree exchange and completion dates shortly!

dodo1990

Finally due to exchange tomorrow after months of hell. We've been piggy in the middle when we thought we chose a good buyer!

Aug 2021 - Offers accepted
Sept 2021 - Searches back, enquiries done, surveys done.
Nov 2021 - Mortgage offer agreed, ready to exchange.
Dec 2021 - Failed exchange, solicitor discovers "cash buyer" in fact has a long chain below! 
Dec 2021 - Chain below months away. Requested buyer to break the chain. We agree to exchange first week of Jan.
Jan 7th - No progress on chain break, buyer still wants to tie in lower chain. 
Jan 14th - Onward purchase lose patience and give ultimatum to exchange 21st Jan. Buyer agrees to break the chain.
Jan 19th - Buyers won't agree to completion dates offered by upper chain.
Jan 20th - Upper chain give final ultimatum to complete Feb. 
Jan 21st - Exchange (fingers crossed)

KeepOnKnitting

After getting my little chain all sorted on 26/11, my buyer pulled out on Monday 17th Jan leaving me in a complete panic. Luckily by contacting some of my other offers, I re-sold the same day, but so frustrating to have lost two months for no reason. Grr. Just hope it can all get moving now.

Moneybear

Pre-exchange viewing was great! I'm going to call my solicitor first thing tomorrow and see if we can send deposit over and try to exchange. Vendor mentioned 4th or 11th Feb works for them which is great. 

RS2OOO

Attempts to Exchange this morning have failed again (5th time now - 17/12,  21/12,  6/01, and 20/01 ).

All parties agreed yesterday to exchange today with completion on 27th.

Buyers Solicitor now saying they cannot exchange as Buyers deposit not yet showing in their account.

My Solicitor said, "I wouldn't normally advise this, but everyone has agreed 27th for completion and therefore book your removals slot before you lose it otherwise I'll have to send your Mortgage funds back to the lender again".

Had I booked removals for the last 4 agreed Completion dates I'd be nearly £5000 out of pocket in cancellation fees by now. I just don't see a way around this and think after all the failed dates I'd be a fool to pay removals until we've Exchanged.

Progressor, Solicitor and Vendors EA all telling me to go ahead and book, but its not their money if it goes pear shaped.

I called Progressor and said my family and I are not going through another weekend not knowing what's going on, so buyer needs to send that deposit via CHAPS immediately so we can exchange today.

Moneybear

@RS2000. I am so sorry to hear that. I agree - I don't blame you for not booking removals yet. 
Fingers crossed the progressor helps and you can exchange before the weekend.

dodo1990

RS2OOO said:

Attempts to Exchange this morning have failed again (5th time now - 17/12,  21/12,  6/01, and 20/01 ).

All parties agreed yesterday to exchange today with completion on 27th.

Buyers Solicitor now saying they cannot exchange as Buyers deposit not yet showing in their account.

My Solicitor said, "I wouldn't normally advise this, but everyone has agreed 27th for completion and therefore book your removals slot before you lose it otherwise I'll have to send your Mortgage funds back to the lender again".

Had I booked removals for the last 4 agreed Completion dates I'd be nearly £5000 out of pocket in cancellation fees by now. I just don't see a way around this and think after all the failed dates I'd be a fool to pay removals until we've Exchanged.

Progressor, Solicitor and Vendors EA all telling me to go ahead and book, but its not their money if it goes pear shaped.

I called Progressor and said my family and I are not going through another weekend not knowing what's going on, so buyer needs to send that deposit via CHAPS immediately so we can exchange today.

That is so frustrating and totally agree re: removals. We booked ours back in November after getting similar advice and luckily they have been flexible and allowed us to change dates FOUR TIMES.

What is your buyer playing at? Where are they getting the funds from? We are in the process of exchange right now too, awaiting authority from the buyer, and nervous the same will happen to us today. 

Mahsroh

RS2OOO said:

Attempts to Exchange this morning have failed again (5th time now - 17/12,  21/12,  6/01, and 20/01 ).

All parties agreed yesterday to exchange today with completion on 27th.

Buyers Solicitor now saying they cannot exchange as Buyers deposit not yet showing in their account.

My Solicitor said, "I wouldn't normally advise this, but everyone has agreed 27th for completion and therefore book your removals slot before you lose it otherwise I'll have to send your Mortgage funds back to the lender again".

Had I booked removals for the last 4 agreed Completion dates I'd be nearly £5000 out of pocket in cancellation fees by now. I just don't see a way around this and think after all the failed dates I'd be a fool to pay removals until we've Exchanged.

Progressor, Solicitor and Vendors EA all telling me to go ahead and book, but its not their money if it goes pear shaped.

I called Progressor and said my family and I are not going through another weekend not knowing what's going on, so buyer needs to send that deposit via CHAPS immediately so we can exchange today.

On the day I exchanged, my buyer made his transfer by CHAPS around now (11am ish). By lunchtime his solicitors were saying they still hadn't received the funds in their account. In the end we exchanged about 3:30 to 4pm.

It's not too late to exchange even today! Fingers crossed for you.  

dodo1990

Our exchange is in progress.... Our buyers have been a nightmare for 20 weeks, so no surprise they haven't responded to their solicitors call this morning. All of us on the chain are waiting for them to give authority. Got a horrible feeling their solicitor is going to come back and say they still haven't got the funds. 

RS2OOO

Mahsroh said:

RS2OOO said:

Attempts to Exchange this morning have failed again (5th time now - 17/12,  21/12,  6/01, and 20/01 ).

All parties agreed yesterday to exchange today with completion on 27th.

Buyers Solicitor now saying they cannot exchange as Buyers deposit not yet showing in their account.

My Solicitor said, "I wouldn't normally advise this, but everyone has agreed 27th for completion and therefore book your removals slot before you lose it otherwise I'll have to send your Mortgage funds back to the lender again".

Had I booked removals for the last 4 agreed Completion dates I'd be nearly £5000 out of pocket in cancellation fees by now. I just don't see a way around this and think after all the failed dates I'd be a fool to pay removals until we've Exchanged.

Progressor, Solicitor and Vendors EA all telling me to go ahead and book, but its not their money if it goes pear shaped.

I called Progressor and said my family and I are not going through another weekend not knowing what's going on, so buyer needs to send that deposit via CHAPS immediately so we can exchange today.

On the day I exchanged, my buyer made his transfer by CHAPS around now (11am ish). By lunchtime his solicitors were saying they still hadn't received the funds in their account. In the end we exchanged about 3:30 to 4pm.

It's not too late to exchange even today! Fingers crossed for you.  

Exactly what I'm hoping for.

Just chased again and Progressor has not been able to make contact with the buyer to suggest the CHAPs payment so could only leave a message to call back urgently.

No idea how it has come to this. It was buyers solicitor who proposed the completion date up the chain, and after failing to exchange yesterday (Vendors solicitor had gone home early) my solicitor emailed buyers solicitor to explain we'd attempt Exchange again today. Buyers Solicitor acknowledged, but did not say they weren't ready. Unbelievable.