The NEW waiting to exchange thread...

Mkk298

Emailed our solicitor who just said we’re waiting on responses to enquiries and they’ve already chased once. They were sent 3 weeks ago so I’m hoping we won’t be waiting too much longer. 

salduck

Valuation Booked for tomorrow by mortgage company All approved subject to valuation Email sent to all to check in on progress! 

Lessien

Paperwork is all signed and back with the solicitors, so I think we're done with our side of things now... Just waiting to hear...

unimportant_nonsense

Exchanged today after what feels like an ungodly amount of time. Shared ownership with a simultaneous staircasing, but no chain where the vendor moved out two months ago. Took far too long in my opinion and has been one of the most stressful experiences of my life. While I accept that the stamp duty holiday has caused a backlog the delays to my mind were unacceptable and almost jeopadised the sale. None of this was the vendor or myself, and we had to chase constantly for any progress and I have been sofa surfing for a week as every deadline has been missed and significant errors (which I flagged) were made on critical paperwork which has meant lots of paperwork has been reissued. Sale almost fell through after weeks of inaction because a deadline was missed by an hour. Horrendous. Can't believe this is the process. 

1 October 2021 - viewed property
13 October 2021 - Initial affordability assessment approved
5 November 2021 - L&Q offer letter
8 November 2021 - Detailed financial interview
19 November 2021 - Instructed Solicitors
1 December 2021 - Memorandum of Sale issues (listed 9 March 2021 for completion - complete fantasy)
10 December 2021 - Engaged mortgage broker 
19 January 2022 - Mortgage application approved
27 January 2022 - Draft contract pack issues
29 March 2022 - Contract report received
6 April 2022 - Contract signed and deeds signed, deposit paid
13 April 2022 - Mortgage deed signed (missed in the first pack)
29 April 2022 - Contract resigned after error 
10 May 2022 - expiry of valuation, failure to exchange. Notified all parties I would have to withdraw from sale if the valuation wasn't extended and/or increased
12 May 2022 - valuation extended to 19 May. Gave authority to exchange, exchange failed.
13 May 2022 - gave authority to exchange, exchange failed. Moneybox LISA funds withdrawn.
14 May 2022 - gave authority to exchange, exchange failed. Mortgage funds requested.
16 May 2022 - gave authority to exchange, exchange failed. 
17 May 2022 - gave authority to exchange, exchange took place. 

It's a relief to finally get there but now I am waiting on a completion statement which is, predictably, failing to materialize.

Good to luck to everyone on this journey. May it go better for you than it has for me. 

t1redmonkey

Maybe I'm being impatient but I had an offer accepted 2 weeks ago, seller hasn't found a place to move into yet, and said they aren't willing to proceed with my purchase until they do find a place.  Should I be worried?  Not really sure how long to give it before looking for a different property, since obviously there's a danger I wait months for them to find something, then they don't and just cancel the whole thing.

pipscat

We're selling and buying...

8/03 we accepted a cash offer on our house
09/03 instructed solicitors
13/03 offer accepted on a house we want to buy
21/03 our cash buyer pulls out
23/03 accept new offer from another buyer (same price)
19/04 mortgage approved & searches instructed
16/05 searches back all ok and ready to move forward

Our seller wanted to be ready to complete for the bank holiday weekend in a few weeks (02-05 June) but we found out today that our buyers searches wont be back until over a week after that. Due to sign our contract tomorrow so we're ready for when the time comes to complete. And so we wait...

babyblade41

t1redmonkey said:

Maybe I'm being impatient but I had an offer accepted 2 weeks ago, seller hasn't found a place to move into yet, and said they aren't willing to proceed with my purchase until they do find a place.  Should I be worried?  Not really sure how long to give it before looking for a different property, since obviously there's a danger I wait months for them to find something, then they don't and just cancel the whole thing.

Keep looking at other properties whilst the offer is on the table , they don't sound a very committed seller

t1redmonkey

babyblade41 said:

t1redmonkey said:

Maybe I'm being impatient but I had an offer accepted 2 weeks ago, seller hasn't found a place to move into yet, and said they aren't willing to proceed with my purchase until they do find a place.  Should I be worried?  Not really sure how long to give it before looking for a different property, since obviously there's a danger I wait months for them to find something, then they don't and just cancel the whole thing.

Keep looking at other properties whilst the offer is on the table , they don't sound a very committed seller

Apparently the seller has had one buyer pull out a few months ago because they got tired of waiting (the seller herself told me this), so hoping it isn't the same again, but need to be prepared for that possibility I guess.  I'm just going to be really annoyed if she does that with me since I'm paying for a level 3 survey which is taking place next week so that's money down the drain if that happens.

hpsauce86

t1redmonkey said:

babyblade41 said:

t1redmonkey said:

Maybe I'm being impatient but I had an offer accepted 2 weeks ago, seller hasn't found a place to move into yet, and said they aren't willing to proceed with my purchase until they do find a place.  Should I be worried?  Not really sure how long to give it before looking for a different property, since obviously there's a danger I wait months for them to find something, then they don't and just cancel the whole thing.

Keep looking at other properties whilst the offer is on the table , they don't sound a very committed seller

Apparently the seller has had one buyer pull out a few months ago because they got tired of waiting (the seller herself told me this), so hoping it isn't the same again, but need to be prepared for that possibility I guess.  I'm just going to be really annoyed if she does that with me since I'm paying for a level 3 survey which is taking place next week so that's money down the drain if that happens.

Don’t get the survey done until she’s in a position to proceed and has found a house and had her offer accepted. So many people on here have paid for that and lost that money, as well as solicitors money. Find a solicitor but tell them to action no work until the sale can progress. 

t1redmonkey

hpsauce86 said:

t1redmonkey said:

babyblade41 said:

t1redmonkey said:

Maybe I'm being impatient but I had an offer accepted 2 weeks ago, seller hasn't found a place to move into yet, and said they aren't willing to proceed with my purchase until they do find a place.  Should I be worried?  Not really sure how long to give it before looking for a different property, since obviously there's a danger I wait months for them to find something, then they don't and just cancel the whole thing.

Keep looking at other properties whilst the offer is on the table , they don't sound a very committed seller

Apparently the seller has had one buyer pull out a few months ago because they got tired of waiting (the seller herself told me this), so hoping it isn't the same again, but need to be prepared for that possibility I guess.  I'm just going to be really annoyed if she does that with me since I'm paying for a level 3 survey which is taking place next week so that's money down the drain if that happens.

Don’t get the survey done until she’s in a position to proceed and has found a house and had her offer accepted. So many people on here have paid for that and lost that money, as well as solicitors money. Find a solicitor but tell them to action no work until the sale can progress. 

Good suggestion actually...I have half done that already, but only with my solicitor (I told them not to commence any searches til I had confirmation the seller had found a place).  But I guess it makes sense to pause the survey as well.  Thanks will think about that and give them a call in the morning perhaps to ask to delay it.