The NEW waiting to exchange thread...

ShilvaA

Our vendors have finally found somewhere... and apparently it’s an empty house!

We really really want to complete before our mortgage offer runs out in early August as we can’t extend the offer (Nationwide helping hand mortgage), interest rates have gone up since we applied and my overtime always dries up from March until October so can’t use the extra income to bolster our borrowing potential if we need to re-apply.

We have our mortgage offer in hand, searches are all back, survey has been done.... just waiting on enquiries. Tbf, we had all of that sorted within 4 weeks.

I guess we just hope now that our vendors purchase catches up to ours and there are no nasty surprises awaiting them that causes them to pull out etc.

I feel frighteningly optimistic.

Lwizzle

I'm at my wits end - was ready to exchange first week of March. Then our buyers revealed their mortgage was expiring on the 6th March (thanks for the notice) Thought no problem, can just get it extended ... NOPE both buyers solicitor and mortgage advisor useless and missed deadline. 

Buyers applied for mortgage again with different provider, waited another 10 days, was declined for some reason. So they've applied to their first provider again and so the wait continues ... ARGH 🙈 

Snookie12cat

When will it end!! 
Due to exchange and complete Friday. Find out that sellers sols need another doc before they can exchange. They will not reply to my solicitor with a timeframe so now just sitting in limbo... It's been 3 weeks so far waiting for this document and none the wiser about when we are moving.
I thought it was almost over and now getting very very disheartened. 

GeorgianaCavendish

We have exchanged! Felt like it took forever but in retrospect it moved pretty quickly. It was so hard feeling like the process was out of our control, which probably contributed to the feeling of dragging.  
Good luck to everyone waiting 🤞

MINNIEMOMO

Completion date has been set for next Friday as enquiries are now all finished, so now we are waiting to receive and sign the contract for the purchase which is due today or tomorrow. On our sale, we have signed the contract but waiting for our buyer to sign/pay deposit in the next few days.

I'm just sitting around waiting to get things done and I'm so nervous. The solicitor said it takes about a week to draw down mortgage funds so as long as we exchange by the end of the week I guess completion will happen? We are in a small chain of three.

SophMa1

MINNIEMOMO said:

Completion date has been set for next Friday as enquiries are now all finished, so now we are waiting to receive and sign the contract for the purchase which is due today or tomorrow. On our sale, we have signed the contract but waiting for our buyer to sign/pay deposit in the next few days.

I'm just sitting around waiting to get things done and I'm so nervous. The solicitor said it takes about a week to draw down mortgage funds so as long as we exchange by the end of the week I guess completion will happen? We are in a small chain of three.

how long did your enquiries take if you dont mind me asking? 
We are at this stage now, i am itching to get some dates set. 

We have no chain either side so pretty much good to go asap 

metalloz

The estate agent called today to give an update on why we didn't exchange as expected on Friday. Originally we were told it was just some pending documentation for the last person in the chain to organise for probate (chain is me, my vendor and the final person in the chain). Today I've been told the last person in the chain now wants to complete in May even though the property he is selling has tenants who apparently found somewhere else to live - I feel like he is lying about something and don't even understand why it's a chain transaction.

My vendor said they will pull out if we can't complete in April.

Devastated - my mortgage offer will expire soon and I won't have time to find another property. This will be the second property purchase to fall through.

I know I should let it get to me but I couldn't help but cry after the call. I've been searching for a year now and missed out on a lot of bidding wars. I don't think I can go through all this again. So much money has been wasted.

natasha22

Hello, we had an offer accepted on a property last week, and have instructed solicitors. We are ftb buying a chain free property 

We are waiting to hear back on a mortgage offer

At what point do we need to book in a survey? Our preferred surveyor isn't available till end of April. Is that likely to be the right time? Or will it be too early or delay things? 

Words of wisdom greatly appreciated, I've really struggled to understand whats meant to be happening, when and in what order

harz99

natasha22 said:

Hello, we had an offer accepted on a property last week, and have instructed solicitors. We are ftb buying a chain free property 

We are waiting to hear back on a mortgage offer

At what point do we need to book in a survey? Our preferred surveyor isn't available till end of April. Is that likely to be the right time? Or will it be too early or delay things? 

Words of wisdom greatly appreciated, I've really struggled to understand whats meant to be happening, when and in what order

Your quickest way of getting a survey done will be to arrange for the building society's valuing surveyor to do it simultaneously. Of course you will not have any control over which surveyor does the job... 

Snookie12cat

metalloz said:

The estate agent called today to give an update on why we didn't exchange as expected on Friday. Originally we were told it was just some pending documentation for the last person in the chain to organise for probate (chain is me, my vendor and the final person in the chain). Today I've been told the last person in the chain now wants to complete in May even though the property he is selling has tenants who apparently found somewhere else to live - I feel like he is lying about something and don't even understand why it's a chain transaction.

My vendor said they will pull out if we can't complete in April.

Devastated - my mortgage offer will expire soon and I won't have time to find another property. This will be the second property purchase to fall through.

I know I should let it get to me but I couldn't help but cry after the call. I've been searching for a year now and missed out on a lot of bidding wars. I don't think I can go through all this again. So much money has been wasted.

What they probably are not telling you is the tenants do not want to leave. The problem with tenanted properties are that the tenants are under no obligation to leave unless they get a court order and so should they refuse it could take 6 months + to actually evict them assuming the correct notice was issued in the first place.
Hopefully this isnt the case and they leave in May, but if the tenants are still there, then thats very likely the reason for the delay, because no landlord would just keep an empty property for !!!!!! and giggles.