The NEW waiting to exchange thread...

dancingqueenielink

Missbeexx said:

Omg I am on cloud 9. Just exchanged today 🥳 completing Friday. 

I am selling a leasehold home and buying a freehold 🥳

my timeline has been:

22/02/22 - offer accepted on my house
24/02/22 - viewed house I liked
25/02/22 - put offer on the house I liked
28/02/22 - offer accepted 🥳
02/03/22 - instructed solicitor 
10/03/22 - contract & title documents for sale received, signed & sent back to solicitor
31/03/22 - buyer initial enquiries received & answered
08/04/22 - searches requested 
10/04/22 - mortgage offer received
11/04/22 - contract and title documents for purchase received, signed & sent back to solicitor 
11/04/22 - initial enquiries on purchase raised

*insert lots & lots of enquiries in between*
14/04/22 - searches received 

24/05/22 - contracts exchanged

completion set for 27/05/22

for me the biggest headache was the ongoing enquiries and solicitors taking their time with them and not chasing them. I swear I hate the word enquiries and I am so glad to not be hearing it again 😂

also forgot to add it was a help to buy I was selling, never again!

roll on Friday 🥳🏠🔑

Congratulations! That was all done really quickly I think! Gives me hope our enquiries and searches are back quite quickly too! Enjoy your new home 😎🏡

dancingqueenielink

Durban said:

Durban said:

Durban said:

Thought we were going to exchange today but we aren’t. 

The buyers solicitors have received the signed contract but still waiting for the deposit 

Hoping to exchange on Monday now 

No exchange today either 

Buyers solicitor doesn’t respond to estate agents emails asking for an update 

Deposit finally received from buyer 

Buyers solicitor makes contact this afternoon with my solicitor  asking for completion date 

My solicitor says let’s complete on Friday and waiting now to hear back from buyers solicitor. 

No exchange today. 

Hopefully tomorrow 

Slowly getting there 

Good luck have my fingers crossed for you! 

dancingqueenielink

TheJP said:

We exchanged names and numbers with our buyers and the people we're buying from. We've been in contact with both throughout this to try and speed things up. 

I tend not to do this, as soon as your buyers are in the house expect a bombardment of texts about the house. My brother still gets texts from his buyers 2 years on which are all trivial stuff. He just ignores them now, the best one was after a year 'What colour bins go out tomorrow?'

Haha well I hope not to have this, and if I do I have no issues in blocking numbers. For now it's been very helpful. We're in contact with both ends of the chain weekly usually to say what's been done. And they've contacted us to push our solicitor to do things too. I did not want a repeat of when I bought this house. No contact with vendor. Estate agents absolutely useless and the solicitors barely answering phones. So we decided this was best for us this way to keep everyone in the loop.

In other news:-
Yesterday we got some great news kids have been offered school places... Whereas two weeks ago we were told no places anywhere. So we're hoping we can get everything back and done in six weeks. So kids can start their new school before summer holidays to makes some contacts.

Nothing more on our searches yet. Our buyers received their survey back and have not raised anything with us yet so we're hoping all was good there (surveyor wouldn't tell us either way)

Congratulations to all who've completed or at least exchanged since I was last on! 

Durban

Still no exchange 

Apparently buyers solicitor now liaising with buyers mortgage lender to see how quickly the funds can be released. 

Been waiting since Friday to exchange 

Mkk298

Some good news for us after a few weeks of silence! Nothing set in stone yet but contracts going out for us to sign and starting to discuss some dates for completion. Our vendors solicitors have said any day after the 8th June, which is not a good time for me with work but I’m going to try to get round it!

TheJP

dancingqueenielink said:

TheJP said:

We exchanged names and numbers with our buyers and the people we're buying from. We've been in contact with both throughout this to try and speed things up. 

I tend not to do this, as soon as your buyers are in the house expect a bombardment of texts about the house. My brother still gets texts from his buyers 2 years on which are all trivial stuff. He just ignores them now, the best one was after a year 'What colour bins go out tomorrow?'

Haha well I hope not to have this, and if I do I have no issues in blocking numbers. For now it's been very helpful. We're in contact with both ends of the chain weekly usually to say what's been done. And they've contacted us to push our solicitor to do things too. I did not want a repeat of when I bought this house. No contact with vendor. Estate agents absolutely useless and the solicitors barely answering phones. So we decided this was best for us this way to keep everyone in the loop.

In other news:-
Yesterday we got some great news kids have been offered school places... Whereas two weeks ago we were told no places anywhere. So we're hoping we can get everything back and done in six weeks. So kids can start their new school before summer holidays to makes some contacts.

Nothing more on our searches yet. Our buyers received their survey back and have not raised anything with us yet so we're hoping all was good there (surveyor wouldn't tell us either way)

Congratulations to all who've completed or at least exchanged since I was last on! 

Saying that all the times I've bought, my EA, vendors and Solicitors were all spot on so there was never any issues. If i did have issues i probably would adopt the same approach as you.

Good news regarding the schools, enjoy your new home.

jimmymac87

Bringing me a lot of comfort staying close to this forum as we edge nearer to exchange...

16 Feb: we accepted offer on our house
09 Mar: our offer accepted on onward purchase 

Everything is in place ready to go with our onward purchase. Just waiting for our buyer's solicitors to confirm they're happy with enquiries on our current house. Been going back and forth since 25 March 😞 

If/when the buyer's solicitor confirms they're satisfied with the enquiries, do you know when we could realistically look at exchanging/completing? (We're moving into an empty house and our buyers are FTBs)

Mkk298

jimmymac87 said:

Bringing me a lot of comfort staying close to this forum as we edge nearer to exchange...

16 Feb: we accepted offer on our house
09 Mar: our offer accepted on onward purchase 

Everything is in place ready to go with our onward purchase. Just waiting for our buyer's solicitors to confirm they're happy with enquiries on our current house. Been going back and forth since 25 March 😞 

If/when the buyer's solicitor confirms they're satisfied with the enquiries, do you know when we could realistically look at exchanging/completing? (We're moving into an empty house and our buyers are FTBs)

We’re on a similar timeline, FTB and our offer was accepted 21st Feb. Our solicitor wouldn’t even discuss completion dates until the enquiries were all back but as soon as she received them she rang and asked when we want to complete, just a case of signing the contracts and exchanging them I think! 

GoingAlone123

Hello! I've been reading all of your posts with interest and it has been great to see the various timelines of everyone. I'm in the early stages of my purchase. I'm buying a leasehold flat, I'm currently renting and the flat I am buying is empty and no onward chain. I am not a FTB but my last purchase was a long time ago. My timeline:

6.05.22  - First viewing. 
7.05.22 - Second viewing. Told probate had been granted, lease of 125 years. 
7.05.22 - Offer made
9.05.22 - Negotiations took place. Last minute I was told the lease is actually only 87 years but the Freeholder has made a formal offer to extend the lease for £3,300. Offer accepted. 
10.05.22 - instructed solicitor
13.05.22 - EA informed me offer to extend lease is only valid until 6.08.22. EA also told me vendor doesn't yet have probate. 
18.05.22 - Mortgage I was looking at fell through due to minor admin error. 
24.05.22 - Mortgage application sent. Auto valuation complete. 
25.05.22 - EA chased me to send documents and pay money on account to my solicitor. Confirmed they still have not heard from vendor if probate has been granted. 

Now for my questions which I hope you lovely intelligent people can help me with!
1. Should I hold off on my solicitors doing any work until the seller has been granted probate/mortgage offer received?
2. Would it be unreasonable for me to ask the seller to pay the cost to extend the lease prior to exchange? I would be happy to increase my purchase price to cover the cost as I did agree to purchase on this basis (I can do this with savings and no need to increase mortgage amount). I am concerned we will not complete before 6.08.22 and even then I may not be able to accept the offer from the Freeholder as it was not made to me. I believe I then would not be able to request an extension of the lease for 2 years. 

Thank in advance!!   

SunsetLover08

Durban said:

Still no exchange 

Apparently buyers solicitor now liaising with buyers mortgage lender to see how quickly the funds can be released. 

Been waiting since Friday to exchange 

Any news?