The NEW waiting to exchange thread...

Loges1966

Moneybear said:

I've just had a call from my solicitor. She has received an email from the sellers to proceed to exchange and lock in our completion date. I thought it would be too late to get funds in time but she is confident we can request this morning and get them for Friday. If not we can do Monday. She said she will call me at 10 for my authority to exchange so fingers crossed! 

That’s great news😊. Hoping to get an update as well regarding exchange. Might call estate to ask if the seller solicitor received the redemption statement. 

MickeyFTB

Moneybear said:

I've just had a call from my solicitor. She has received an email from the sellers to proceed to exchange and lock in our completion date. I thought it would be too late to get funds in time but she is confident we can request this morning and get them for Friday. If not we can do Monday. She said she will call me at 10 for my authority to exchange so fingers crossed! 

That is such good news! Nice to see purchases moving forward ☺️

RS2OOO

Great news @Moneybear

I hope the 10am call is good news, albeit I'm sure you'll be kept in suspense a little beyond 10am!

boldaslove

We’re now sweating over our completion date of this Friday because the vendor isn’t responding to requests for information. I’m getting really frustrated being told that we’re ready to go one minute, and then that we can’t do anything because there’s still outstanding enquiries. Apparently our vendor who wants to complete asap has stopped responding to their own solicitor 

We need to get to the bank this week to arrange a CHAPS transfer of the funds and a member of our household has now tested positive for COVID. When I rang our Solicitor to explain this and ask if we could transfer the funds now just to be on the safe side they wouldn’t let us do it. I’m trying to stay positive and chilled but it feels like everything has just ground to a halt at the last minute 

amylou1107

Update from our solicitor yesterday evening that everything is ready re the sale of our house.
They are just outstanding replies to enquires from our sellers solicitor.
Chased selling estate agent to see if they can speed up replies.

Anyone have any experience on how long replies to enquires can take and then how long until exchange once received?

We are aiming to move in Feb.
Expecting our baby in March so i've told the chain if we dont move in Feb everyone will have to wait until April.
Don't want the risk of going into labour on moving day! ekk!

Loges1966

boldaslove said:

We’re now sweating over our completion date of this Friday because the vendor isn’t responding to requests for information. I’m getting really frustrated being told that we’re ready to go one minute, and then that we can’t do anything because there’s still outstanding enquiries. Apparently our vendor who wants to complete asap has stopped responding to their own solicitor 

We need to get to the bank this week to arrange a CHAPS transfer of the funds and a member of our household has now tested positive for COVID. When I rang our Solicitor to explain this and ask if we could transfer the funds now just to be on the safe side they wouldn’t let us do it. I’m trying to stay positive and chilled but it feels like everything has just ground to a halt at the last minute 

boldaslove said:

We’re now sweating over our completion date of this Friday because the vendor isn’t responding to requests for information. I’m getting really frustrated being told that we’re ready to go one minute, and then that we can’t do anything because there’s still outstanding enquiries. Apparently our vendor who wants to complete asap has stopped responding to their own solicitor 

We need to get to the bank this week to arrange a CHAPS transfer of the funds and a member of our household has now tested positive for COVID. When I rang our Solicitor to explain this and ask if we could transfer the funds now just to be on the safe side they wouldn’t let us do it. I’m trying to stay positive and chilled but it feels like everything has just ground to a halt at the last minute 

I can imagine how you fell 😖. My situation is that seller solicitor is waiting for the redemption statement to come through before both solicitors can exchange. 

Called estate agent, they tried to get in contact with seller solicitor but she won’t be at office until 10am. Don’t know if I should make another call to estate since they said they have dropped an email to the seller solicitor 

completion date agreed on 2nd February. No chain 

Moneybear

Thank you everyone. @RS2000 you were right it - just had my call now 

Given my authority to exchange. Fingers crossed we hear this afternoon it has happened! 

ccbrowning

One last request for our seller to add a clause to the contract - taking ages. Once done we can agree dates, but the local removals are all getting booked up for the entirety of Feb already. 

Laurelii

Moneybear said:

Thank you everyone. @RS2000 you were right it - just had my call now 

Given my authority to exchange. Fingers crossed we hear this afternoon it has happened! 

Hi, FTB Here.. I had n emailed reading "There isn’t a set time for exchange and you do not do anything. It is between solicitors. All we need from you, on the day when it is ready to exchange, is your authority to do so."

exchange with us will be happening any day now and I'm a little confused how it all works, i thought we had to go into the office to do this, is this not the case?  

Do they call me asking for authority to exchange and once I have agreed/ authorised I send them the money ?

Mahsroh

Laurelii said:

Moneybear said:

Thank you everyone. @RS2000 you were right it - just had my call now 

Given my authority to exchange. Fingers crossed we hear this afternoon it has happened! 

Hi, FTB Here.. I had n emailed reading "There isn’t a set time for exchange and you do not do anything. It is between solicitors. All we need from you, on the day when it is ready to exchange, is your authority to do so."

exchange with us will be happening any day now and I'm a little confused how it all works, i thought we had to go into the office to do this, is this not the case?  

Do they call me asking for authority to exchange and once I have agreed/ authorised I send them the money ?

Essentially yes, although it will likely be an e-mail rather than a call.

You will already have signed the Contracts ahead of time and your solicitors then keep them on file until they tell you they're ready to exchange and you give authority. They'll then go ahead and do it. No need for you to go in the office - i never met my solicitors or went to their offices in person. 

I didn't need to send any money this time as it was all in equity from our sale and tbh I can't remember what I did the previous time, but broadly speaking you'll send the funds around the same sort of time you give your authority, probably slight ahead of giving your authority as that's usually done on the same day you exchange, and they may want your money a day before to ensure a smooth exchange.