The NEW waiting to exchange thread...

TXC

Lwizzle said:

I could cry, so we were finally in a position to exchange early March only to find our buyers mortgage had expired. On Monday their new mortgage was finally approved, but they said we MUST complete by next week (Friday 15th) as their tenancy ends then. This was fine by us but we have since found out that our vendors are on holiday all of next week 😭 

Nothing seems to be aligning and I don't know how much more stress I can take! 

I hate admitting this obviously but this is a sellers market - stand firm and explain youve waited for their delay from letting their mortgage expire and have been ready since march, all they need to do is what until your vendors are back. What's your buyers alternative, it will take them three months at least to get to this point again with another seller? their tenancy ends on friday 15th whether its you selling to them or someone else, surely you're the best bet, theyll just need to sort alternative accommodation for what? two weeks?

stand firm and call their bluff

Lwizzle

@TXC thank you, you're right. I feel like my whole life is taken over by this lol.

I hope your missing certificate is all sorted and you can lock in an exchange/completion date may I ask how long you've been in this whole selling/buying process?

It's the same for us too, our solicitors have been very reactive (not chasing anything and not flagging when things were missing) to the point where it felt like we were doing their job. 

TXC

Lwizzle said:

@TXC thank you, you're right. I feel like my whole life is taken over by this lol.

I hope your missing certificate is all sorted and you can lock in an exchange/completion date may I ask how long you've been in this whole selling/buying process?

It's the same for us too, our solicitors have been very reactive (not chasing anything and not flagging when things were missing) to the point where it felt like we were doing their job. 

oh god same, we're all so emotionally invested in our own chains that it takes an outsiders pair of eyes to contextualise - thats why this forum is such a life saver!!

We're only just over nine weeks from offer accepted which is why im a little perturbed that the top seller is being so indignant on the 12 week mark - i really don't think things could have gone quicker!! (but ive been searching for about 15 months now with two previous failed purchases under my belt so I'm incredibly antsy atm!)

Thanks very much the seller has sent me a copy too and to my extremely untrained eye it looks like what my solicitor was requesting! he was originally telling me that the 25th march looked achievable a couple of weeks back so I can only assume that this is the last piece of the puzzle for the purchase! Just need to keep that pressure on

Keeping everything crossed that your buyer sees sense, they seem very bold considering we as buyers have very little leverage in this market!

OiYou

Had my offer accepted in January (3rd house lucky...)
Feb-March mortgage approved, all info sent to solicitors, survey done, searches commenced, enquiries sent (first lot anyway...)

It's all going a bit too smoothly - can it go smoothly?? I'm a FTB, buying on my own living with family so no hard deadline looming for me.

Why am I worried that nothing has gone wrong yet??

faylou

After a failed attempt to exchange yesterday we try again this morning . Everything crossed …

Nicbetty

faylou said:

After a failed attempt to exchange yesterday we try again this morning . Everything crossed …

Good luck ! Xxx

Nicbetty

Still awaiting a report that when I contacted the coal Authority yesterday and asked timescales was told current SLA is 1 hour !! . Been over a week …. Losing the plot now as into month 5 and just need to move 

TXC

Sols have confirmed safe receipt of the certificate - apparently needs solicitors approval (hopefully) at which point they'll build the report and send it to me in "the next few days" for confirmation and further instruction. Have politely asked if the next few days can mean either today or tomorrow!

Apparently at that point they'll call up the chain to settle on completion date. Just need to hope top of the chain doesnt get too spooked and pull out from now until then!! Hopefully they're just throwing their weight around.

Wish me luck!

Lwizzle

@TXC ahh that's great news, sounds very promising have my fingers crossed for you 🤞

We just got notified that our buyers solicitor still hasn't received the mortgage offer by post ... I mean POST seriously we are in the 21st century. Us and our solicitor got our mortgage offer from HSBC instantly by email. 

We are meant to exchange this Friday but if everything is by post then we definitely will not be exchanging for at least a week! Our buyers still need to sign the deed etc ... this whole process is so archaic 

TXC

Lwizzle said:

@TXC ahh that's great news, sounds very promising have my fingers crossed for you 🤞

We just got notified that our buyers solicitor still hasn't received the mortgage offer by post ... I mean POST seriously we are in the 21st century. Us and our solicitor got our mortgage offer from HSBC instantly by email. 

We are meant to exchange this Friday but if everything is by post then we definitely will not be exchanging for at least a week! Our buyers still need to sign the deed etc ... this whole process is so archaic 

Oh blimey snail mail! no way! Hoping eveything gets sorted for you as early as poss next week! All the delay is with your buyer so he'll only be pulling out becuase of his own messing around! nose despite face springs to mind!

Ah thank you keeping everything crossed here too. Just so paranoid now that top of the chain will pull out regardless just before exchange