The NEW waiting to exchange thread...

babyblade41

Chloe010 said:

babyblade41 said:

The problem is constantly contacting your solicitor especially early doors is because unless there is something to report it's a bit pointless & constantly answering emails every couple of days will delay even longer 

As long as you are using a local solicitor where you can have physical contact, can pop docs in by hand if necessary etc  then you are in the hands of the slowest person in the chain.  The process is totally governed by the least proactive.

You can of course contact your EA once a week to get some feedback & if things aren't progressing as quickly as you'd hoped then they can go up & down the chain to find out what the delay is ..whether they can solve it is another matter .

One of the hold ups with our sale ( we aren't buying & our buyers live in rental round the corner from us ) is the buyers mortgage offer took 4 weeks to arrive. Thankfully in that time they organised everything else so they were pretty proactive in that respect.

Sometimes there isn't a lot you can do but wait for the process to slowly work towards completion & try not to stress as most of the problems will get sorted eventually but take time . Think of 12 weeks & that should be a good ball park figure if all goes to plan 

We started our sale back last November but total cash buyers pulled out a day before exchange , 2nd in line offered the next day but had to start all over again . 

From the 2nd buyer we are 6 weeks in & buyer wants completion by end of the month so we will see what happens 

Very sensible. Your point around mortgage documents is why I’m frustrated our buyer has faffed around for 2 weeks with applying for his mortgage, particularly when he is the one that has imposed a 2 month completion target. I think we were incredibly fortunate that NatWest approved ours in 5 days (including a weekend!). 

Thankfully, I’m a bit neurotic and like to clear items within a matter of hours so no-one is ever waiting on us! As we moved into our house 5 years ago, we have every single piece of paperwork so I can’t see our buyers enquiries being too onerous for us - unless they have a pedantic conveyancer. Hoping for a smooth process!

Fingers crossed your sale goes through asap!

Mortgage lenders are tightening up so very prudent to get the ball rolling ASAP.. just stay calm & at the weekends switch off.

 I'm on personal house move number 18 & god knows how many business purchases over 30 years & the conveyance process seems to get more complicated every year .

I'm sure it will all get done in time  

alsweeney1985

My process has been going on for nearly a year now. We had an offer accepted in June 2021 and then in January 2022 the vendor decided they no longer wanted to sell. I had a gut feeling that they would pull out but stuck with them as we loved the house.

Anyhow, after we got over the disappointment (and booked a well earned last minute holiday after the house was withdrawn) our circumstances changed which meant we could afford more than we originally could.

We had an offer accepted on 15/03/200 but then the lender down valued the house by 10k. Thankfully, we managed to negotiate with the vendor in the middle.

Our searches have been done, contract received and initial enquiries been received. My survey is booked for 28/04/2022.

I had a call from my EA week before last asking what my thoughts are on a completion date of 27/05/2022, which I was surprised how quickly everything is going through.

My solicitor was off on annual leave last week, and her assistant was out of the office unwell, so was not able to follow up with them on any progress. By coincidence, the EA progressor was also out of the office.

I am a FTB currently renting and need to give one months notice to my landlord. Do you think it is reasonable to suggest exchange of contracts on/by 7th May with a completion date of 27/05/2022 on the basis there is nothing of many concern from the survey and the enquires are dealt with?

babyblade41

alsweeney1985 said:

My process has been going on for nearly a year now. We had an offer accepted in June 2021 and then in January 2022 the vendor decided they no longer wanted to sell. I had a gut feeling that they would pull out but stuck with them as we loved the house.

Anyhow, after we got over the disappointment (and booked a well earned last minute holiday after the house was withdrawn) our circumstances changed which meant we could afford more than we originally could.

We had an offer accepted on 15/03/200 but then the lender down valued the house by 10k. Thankfully, we managed to negotiate with the vendor in the middle.

Our searches have been done, contract received and initial enquiries been received. My survey is booked for 28/04/2022.

I had a call from my EA week before last asking what my thoughts are on a completion date of 27/05/2022, which I was surprised how quickly everything is going through.

My solicitor was off on annual leave last week, and her assistant was out of the office unwell, so was not able to follow up with them on any progress. By coincidence, the EA progressor was also out of the office.

I am a FTB currently renting and need to give one months notice to my landlord. Do you think it is reasonable to suggest exchange of contracts on/by 7th May with a completion date of 27/05/2022 on the basis there is nothing of many concern from the survey and the enquires are dealt with?

BIB Don't under any circumstance give notice until exchange has happened .

You can suggest any date you want but everyone has to agree to it & when everything has agreed it's put into the contract 

alsweeney1985

babyblade41 said:

alsweeney1985 said:

My process has been going on for nearly a year now. We had an offer accepted in June 2021 and then in January 2022 the vendor decided they no longer wanted to sell. I had a gut feeling that they would pull out but stuck with them as we loved the house.

Anyhow, after we got over the disappointment (and booked a well earned last minute holiday after the house was withdrawn) our circumstances changed which meant we could afford more than we originally could.

We had an offer accepted on 15/03/200 but then the lender down valued the house by 10k. Thankfully, we managed to negotiate with the vendor in the middle.

Our searches have been done, contract received and initial enquiries been received. My survey is booked for 28/04/2022.

I had a call from my EA week before last asking what my thoughts are on a completion date of 27/05/2022, which I was surprised how quickly everything is going through.

My solicitor was off on annual leave last week, and her assistant was out of the office unwell, so was not able to follow up with them on any progress. By coincidence, the EA progressor was also out of the office.

I am a FTB currently renting and need to give one months notice to my landlord. Do you think it is reasonable to suggest exchange of contracts on/by 7th May with a completion date of 27/05/2022 on the basis there is nothing of many concern from the survey and the enquires are dealt with?

BIB Don't under any circumstance give notice until exchange has happened .

You can suggest any date you want but everyone has to agree to it & when everything has agreed it's put into the contract 

Thanks for your feedback, I definitely won’t be giving any notice until the contracts have been exchanged. My worry was that I read many posts where exchange and completion is in a much shorter period so was just wondering if my suggestion is something that may not even be considered. It is the vendor who has suggested the completion date of 27/05/2022 and they are buying an empty house.

babyblade41

alsweeney1985 said:

babyblade41 said:

alsweeney1985 said:

My process has been going on for nearly a year now. We had an offer accepted in June 2021 and then in January 2022 the vendor decided they no longer wanted to sell. I had a gut feeling that they would pull out but stuck with them as we loved the house.

Anyhow, after we got over the disappointment (and booked a well earned last minute holiday after the house was withdrawn) our circumstances changed which meant we could afford more than we originally could.

We had an offer accepted on 15/03/200 but then the lender down valued the house by 10k. Thankfully, we managed to negotiate with the vendor in the middle.

Our searches have been done, contract received and initial enquiries been received. My survey is booked for 28/04/2022.

I had a call from my EA week before last asking what my thoughts are on a completion date of 27/05/2022, which I was surprised how quickly everything is going through.

My solicitor was off on annual leave last week, and her assistant was out of the office unwell, so was not able to follow up with them on any progress. By coincidence, the EA progressor was also out of the office.

I am a FTB currently renting and need to give one months notice to my landlord. Do you think it is reasonable to suggest exchange of contracts on/by 7th May with a completion date of 27/05/2022 on the basis there is nothing of many concern from the survey and the enquires are dealt with?

BIB Don't under any circumstance give notice until exchange has happened .

You can suggest any date you want but everyone has to agree to it & when everything has agreed it's put into the contract 

Thanks for your feedback, I definitely won’t be giving any notice until the contracts have been exchanged. My worry was that I read many posts where exchange and completion is in a much shorter period so was just wondering if my suggestion is something that may not even be considered. It is the vendor who has suggested the completion date of 27/05/2022 and they are buying an empty house.

I always have at least 2 weeks between exchange & completion, I don't complete on a Friday either .

20 days between exchange & completion is at the upper end of time & may not be acceptable to most in the chain so you may have to compromise with that.

alsweeney1985

babyblade41 said:

alsweeney1985 said:

babyblade41 said:

alsweeney1985 said:

My process has been going on for nearly a year now. We had an offer accepted in June 2021 and then in January 2022 the vendor decided they no longer wanted to sell. I had a gut feeling that they would pull out but stuck with them as we loved the house.

Anyhow, after we got over the disappointment (and booked a well earned last minute holiday after the house was withdrawn) our circumstances changed which meant we could afford more than we originally could.

We had an offer accepted on 15/03/200 but then the lender down valued the house by 10k. Thankfully, we managed to negotiate with the vendor in the middle.

Our searches have been done, contract received and initial enquiries been received. My survey is booked for 28/04/2022.

I had a call from my EA week before last asking what my thoughts are on a completion date of 27/05/2022, which I was surprised how quickly everything is going through.

My solicitor was off on annual leave last week, and her assistant was out of the office unwell, so was not able to follow up with them on any progress. By coincidence, the EA progressor was also out of the office.

I am a FTB currently renting and need to give one months notice to my landlord. Do you think it is reasonable to suggest exchange of contracts on/by 7th May with a completion date of 27/05/2022 on the basis there is nothing of many concern from the survey and the enquires are dealt with?

BIB Don't under any circumstance give notice until exchange has happened .

You can suggest any date you want but everyone has to agree to it & when everything has agreed it's put into the contract 

Thanks for your feedback, I definitely won’t be giving any notice until the contracts have been exchanged. My worry was that I read many posts where exchange and completion is in a much shorter period so was just wondering if my suggestion is something that may not even be considered. It is the vendor who has suggested the completion date of 27/05/2022 and they are buying an empty house.

I always have at least 2 weeks between exchange & completion, I don't complete on a Friday either .

20 days between exchange & completion is at the upper end of time & may not be acceptable to most in the chain so you may have to compromise with that.

Thank you. Would just like to avoid paying additional rent out if I can help it. I guess the fact that the vendor has suggested the date and their onward purchase is empty could make everything easier in terms of agreeing dates.

babyblade41

alsweeney1985 said:

babyblade41 said:

alsweeney1985 said:

babyblade41 said:

alsweeney1985 said:

My process has been going on for nearly a year now. We had an offer accepted in June 2021 and then in January 2022 the vendor decided they no longer wanted to sell. I had a gut feeling that they would pull out but stuck with them as we loved the house.

Anyhow, after we got over the disappointment (and booked a well earned last minute holiday after the house was withdrawn) our circumstances changed which meant we could afford more than we originally could.

We had an offer accepted on 15/03/200 but then the lender down valued the house by 10k. Thankfully, we managed to negotiate with the vendor in the middle.

Our searches have been done, contract received and initial enquiries been received. My survey is booked for 28/04/2022.

I had a call from my EA week before last asking what my thoughts are on a completion date of 27/05/2022, which I was surprised how quickly everything is going through.

My solicitor was off on annual leave last week, and her assistant was out of the office unwell, so was not able to follow up with them on any progress. By coincidence, the EA progressor was also out of the office.

I am a FTB currently renting and need to give one months notice to my landlord. Do you think it is reasonable to suggest exchange of contracts on/by 7th May with a completion date of 27/05/2022 on the basis there is nothing of many concern from the survey and the enquires are dealt with?

BIB Don't under any circumstance give notice until exchange has happened .

You can suggest any date you want but everyone has to agree to it & when everything has agreed it's put into the contract 

Thanks for your feedback, I definitely won’t be giving any notice until the contracts have been exchanged. My worry was that I read many posts where exchange and completion is in a much shorter period so was just wondering if my suggestion is something that may not even be considered. It is the vendor who has suggested the completion date of 27/05/2022 and they are buying an empty house.

I always have at least 2 weeks between exchange & completion, I don't complete on a Friday either .

20 days between exchange & completion is at the upper end of time & may not be acceptable to most in the chain so you may have to compromise with that.

Thank you. Would just like to avoid paying additional rent out if I can help it. I guess the fact that the vendor has suggested the date and their onward purchase is empty could make everything easier in terms of agreeing dates.

Possibly, you just need to negotiate it beforehand 

TXC

Well we go again! Email sent to solicitor saying happy to exchange today so now we wait! Completion is meant to be on Thursday and vendor says rest of chain are apparently ready to exchange so keeping everything crossed we manage it today!

Nicbetty

Good luck everyone this week !

Lwizzle

Good luck to everyone hoping to exchange and/or complete this week 🤞