The NEW waiting to exchange thread...

Mkk298

livdawsonn said:

Mkk298 said:

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. 

Exactly the same as me.. sent on the 25th solicitors have chased few times and I have asked EA as well but had nothing back. Quite concerned because these were the first enquiries and after reading them they’re all basic yes/no answers so really don’t get what the hold up is. Maybe dragging heels but not sure why? Hopefully you get to exchange soon

Yeah our enquiries were also very basic other than one which was asking for a copy of the leasehold title which they hadn’t supplied. I’m not sure if it’s our sellers or their solicitors so I’m going to chase the estate agent now. 

Hopefully you get your responses soon!

t1redmonkey

hpsauce86 said:

t1redmonkey said:

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.

Have a scroll back through this thread. It’s happened to so many people. Until the chain is complete you should pay a penny out. Keep chasing and keeping looking at other houses. I think you might be outside the timeline for home buyers insurance but you can get that which will cover any costs you pay for if the house doesn’t go through. But my advice would absolutely be don’t pay for anything yet unless you have money to burn. 😊

Funnily enough (well I guess it isn't funny) the surveyor emailed me this morning before I had a chance to phone them, and they said they'd finally got a callback from the vendor and she told them she'd been in hospital for the last week which was she hadn't responded to them!  Whether that's true or not, I have no idea.  The vendor said she was going to let them know by the weekend if she was well enough to receive them for the survey next week, however I phoned the surveyor back and just said to put it on hold regardless until I know the vendor has found a place to buy.  So they've done that for me now.  In the meantime, I'm going to book some viewings in for some other places!

hpsauce86

t1redmonkey said:

hpsauce86 said:

t1redmonkey said:

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.

Have a scroll back through this thread. It’s happened to so many people. Until the chain is complete you should pay a penny out. Keep chasing and keeping looking at other houses. I think you might be outside the timeline for home buyers insurance but you can get that which will cover any costs you pay for if the house doesn’t go through. But my advice would absolutely be don’t pay for anything yet unless you have money to burn. 😊

Funnily enough (well I guess it isn't funny) the surveyor emailed me this morning before I had a chance to phone them, and they said they'd finally got a callback from the vendor and she told them she'd been in hospital for the last week which was she hadn't responded to them!  Whether that's true or not, I have no idea.  The vendor said she was going to let them know by the weekend if she was well enough to receive them for the survey next week, however I phoned the surveyor back and just said to put it on hold regardless until I know the vendor has found a place to buy.  So they've done that for me now.  In the meantime, I'm going to book some viewings in for some other places!

Good stuff. Twist of fate maybe (but bad luck to the vendor, if it’s true). 

Keep looking, either it works out or you find a better one. At least you’ve got a back up. Bear in mind if you already have a mortgage approved that it will expire in 6 months. 

Keeping my fingers crossed for you. So stressful! 

hpsauce86

@t1redmonkey Oh also- may be a positive sign if she is considering saying yes. If I was in hospital for a week, I’d probably just say no if I wasn’t serious about selling/finding somewhere. It maybe shows a little faith. 

Durban

Heard today that our buyer has signed and sent back her documents to her solicitor and hoping to exchange on Friday 

hpsauce86

Durban said:

Heard today that our buyer has signed and sent back her documents to her solicitor and hoping to exchange on Friday 

Great news! I hope we are soon! We sent everything back six weeks ago signed but undated ready to go. Hoping we’ll exchange next week. 

NicolaFranks

hpsauce86 said:

NicolaFranks said:

Down to the final stages……solicitor told us Friday that we are unlikely to exchange / complete by 24th (next Tuesday) when our mortgage offer runs out!  Today our mortgage broker told us HSBC do not tend to extend mortgages and we would have to do a new application.  The rate we have from November is 1.4% and the rate now is 2.something which means circa £180 extra per month 

solicitor had told us that the “final documents” we being sent out to us to arrive tomorrow (our buyer has had there’s not sure if they have further up the chain) 

is it feasible to exchange / complete by next Tuesday or should be just pull out now ?

You might manage it. I don’t see why you’d pull out after waiting since November! Can you afford the extra £180 a month on the mortgage? 

Keep sticking with it and see if you can get it across the line by the 24th, let your solicitor know your concerns one more time, as well as the estate agent. I’m sure they will do their best to meet the date you need, if not then back out (and waste the costs you’ve already spent), or speak to your broker and get a new mortgage at a slightly higher rate (still a very decent rate!) 

good luck! 

We can afford it….but if anything we’re to happen to my husband then I wouldn’t be able to cover it on my own 

Our current mortgage v new mortgage is £300 more per month so with the extra £180 makes our outgoings £500 more per month….

The rate we had in Nov was 1.4 % there isn’t anything close to this…..so it looks likely we will be pulling out

MickeyFTB

NicolaFranks said:

hpsauce86 said:

NicolaFranks said:

Down to the final stages……solicitor told us Friday that we are unlikely to exchange / complete by 24th (next Tuesday) when our mortgage offer runs out!  Today our mortgage broker told us HSBC do not tend to extend mortgages and we would have to do a new application.  The rate we have from November is 1.4% and the rate now is 2.something which means circa £180 extra per month 

solicitor had told us that the “final documents” we being sent out to us to arrive tomorrow (our buyer has had there’s not sure if they have further up the chain) 

is it feasible to exchange / complete by next Tuesday or should be just pull out now ?

You might manage it. I don’t see why you’d pull out after waiting since November! Can you afford the extra £180 a month on the mortgage? 

Keep sticking with it and see if you can get it across the line by the 24th, let your solicitor know your concerns one more time, as well as the estate agent. I’m sure they will do their best to meet the date you need, if not then back out (and waste the costs you’ve already spent), or speak to your broker and get a new mortgage at a slightly higher rate (still a very decent rate!) 

good luck! 

We can afford it….but if anything we’re to happen to my husband then I wouldn’t be able to cover it on my own 

Our current mortgage v new mortgage is £300 more per month so with the extra £180 makes our outgoings £500 more per month….

The rate we had in Nov was 1.4 % there isn’t anything close to this…..so it looks likely we will be pulling out

Before pulling out definitely have a conversation with HSBC first on extending - we’re with a different provider and our mortgage offer has gone to expire 3 time but they’ve extended as they recognised the issue in the chain was at no fault of ours. Somehow our mortgage broker managed a three month extension on the last one! 

KLG1979

Our purchase is nearly ready and the sale is catching up quickly - we were looking to a june completion. But our purchase (new build) has a restrictive covenant on it which would prevent me continuing my business. So now we are having to consider next steps. Thought it was going to smoothly! 

Lessien

Exchange is planned for today, fingers crossed it all goes to plan! 🤞

Good luck to everyone else waiting for updates today