The NEW waiting to exchange thread...

harz99

ironlady2022 said:

When you exchange, I'm guessing completion date is already agreed at that point. Between the two dates, is there a max time limit that you need to stick to? 

It used to be completion was due 28 days after exchange, nowadays it seems to be more a matter of all parties agreeing the date before exchange takes place. Fwiw, we've always tried to avoid doing either on a Friday, simply because if any last minute hitches arise on a Friday you then have 2 non business days to wait before trying again. Wednesdays are our preferred days. 

ironlady2022

harz99 said:

ironlady2022 said:

When you exchange, I'm guessing completion date is already agreed at that point. Between the two dates, is there a max time limit that you need to stick to? 

It used to be completion was due 28 days after exchange, nowadays it seems to be more a matter of all parties agreeing the date before exchange takes place. Fwiw, we've always tried to avoid doing either on a Friday, simply because if any last minute hitches arise on a Friday you then have 2 non business days to wait before trying again. Wednesdays are our preferred days. 

Thank you for this. I did think it was 28 days but anything goes i  this current market. Like the tip about the Friday! 

Zerforax

Sacher50 said:

We exchanged on Tuesday! 13 months after our offer was accepted… I can’t quite believe we got there, nor that we hung for that long! (FTB, no chain)

If you look at my post history, you’ll see I started cockily counting down the weeks on this thread just after our offer was accepted. That soon petered off once the difficulties started! At the outset I thought we could be exchanged and completed by August 2021!   

I am glad we stuck with it though, with interest rate rises, price rises and the shortage of properties on the market it still feels like a good deal and I’m so excited to move in after we complete next Friday. Also kudos to the developer, who never tried to renegotiate the price and even knocked a little bit off when we missed the stamp duty holiday in September.

@h2g2 I’m sorry for all the issues you’ve had with your purchase and the worry and loss of time with your mum, I hope things work themselves out quickly. 

Patience of a saint.. I'm getting angsty about our purchase potentially taking 13 weeks, nevermind 13 months!

dancingqueenielink

Morning all, 
So our searches are all back, I'm not sure about the enquiries yet. 
The people we're buying from rang us last weekend and asked if we could exchange and complete on the 17th. Of June!! We were expecting July at the earliest 😱 so we were like yes!!! 
Emailed our solicitor to confirm and our mortgage guy as we were waiting on the mortgage valuation to come back. Guess what? Both on holiday 😂😂 

So this week has been THE longest week ever whilst we wait to see if we can exchange/ complete so soon. Both ends of the chain are happy with earlier exchange as are we so we just need the go ahead now from our solicitor on Monday.

We have heard this week that our mortgage valuation was ok just the other day, so mortgage is ready to go. We had two contacts in the office so spoke to the other one... But we had no other contacts in the solicitors office so are waiting for Monday.

Maybe premature but we've started our decluttering and packing away of stuff we don't use every day! I feel like we're getting very near to the end now! 🙂

babyblade41

@dancingqueenielink just a little caution on 17th, this only gives you 10 working days to get the enquiries done & for the mortgage offer to come through.

Enquiries can take quite a while depending what is asked for.

De cluttering is a good thing though & hope it all goes through swiftly 

t1redmonkey

hpsauce86 said:

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! 

I ended up pulling out of this today, I got a bit tired of being told the same thing every time I asked what the seller's progress was (she is still looking).  All after she initially told me she wanted to do a quick transaction back when I offered on 3rd May. 

I had also tried texting her on the long weekend we just had in case she was able to give me a more detailed update (other than the one I was getting from the estate agent) and she just replied with "why are you contacting me?  ask your solicitor".  That was after I'd been given her phone number by the estate agent when I first had my offer accepted and being told she was happy to answer any questions I had!  Oh well.

hpsauce86

t1redmonkey said:

hpsauce86 said:

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! 

I ended up pulling out of this today, I got a bit tired of being told the same thing every time I asked what the seller's progress was (she is still looking).  All after she initially told me she wanted to do a quick transaction back when I offered on 3rd May. 

I had also tried texting her on the long weekend we just had in case she was able to give me a more detailed update (other than the one I was getting from the estate agent) and she just replied with "why are you contacting me?  ask your solicitor".  That was after I'd been given her phone number by the estate agent when I first had my offer accepted and being told she was happy to answer any questions I had!  Oh well.

Ah no I’m sorry. It sounds like she wasn’t too serious about it. Hopefully you’ll find a new one soon. 

We’re still waiting. Been told by the estate agent handling her new build purchase that all enquiries have been sent back to our vendor, meanwhile her solicitor says they are still outstanding. Rattled the cage a bit and the estate agent is making sure the vendor knows they are with her solicitor. Going to ring the sales progression for ours because she doesn’t seem to be doing her job and keeping up with the chain at all. We’ve been waiting to exchange for 3 months now. Fingers crossed we complete by the end of the month, shame we’ve missed the point of giving notice now though, wanted to minimise the overlap where we could. But hey Ho! 

dancingqueenielink

So update, our mortgage is all sorted and ready to go. We've had all the paperwork for that. Contracts are being sent out for all to sign.

Enquiries have all been answered. Just waiting to make sure nothing else comes from those. Buyers and sellers very proactive as is two out of three solicitors in the chain and the estate agent at the top of the chain has been chasing things up as well as us. I'm very glad we swapped numbers with everyone now as it's helped in communication that solicitors take longer to pass along. 

The guy buying our house hasn't applied for all searches but as he's a cash buyer we've been told that's ok. He has applied for a drainage search just waiting to see if it's actually been done. We've been told that only takes a few days to come back anyway. His solicitor is a little remiss if you ask me, we had more clue about what was going on being in the middle of the chain than he did. He had no clue about us all wanting to complete next week... Nevermind between all of us I think we've pushed it as quickly as we can.

So we're just waiting to make sure everything else is in place now for exchange next week. If it's delayed I don't think it will be by very long so I should be all moved by the end of June 😁 we're pretty easy going on the date tbh but the people we're buying from are in a hurry to complete asap so we're trying to hurry it along for them.

We had a removal quote this morning it's all starting to feel very real now after months of the process 🙂🙏

dancingqueenielink

t1redmonkey said:

hpsauce86 said:

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! 

I ended up pulling out of this today, I got a bit tired of being told the same thing every time I asked what the seller's progress was (she is still looking).  All after she initially told me she wanted to do a quick transaction back when I offered on 3rd May. 

I had also tried texting her on the long weekend we just had in case she was able to give me a more detailed update (other than the one I was getting from the estate agent) and she just replied with "why are you contacting me?  ask your solicitor".  That was after I'd been given her phone number by the estate agent when I first had my offer accepted and being told she was happy to answer any questions I had!  Oh well.

Ah no I'm so sorry 😔 as someone told me when I was gazumped and everything fell through just at the beginning of April it's because something else is more suited for you out there. I know it doesn't help when you're feeling disappointed...I still feel a bit raw about the house I lost out on... but overall the one we have now is better suited to us. I hope you find something even better and soon 🤞🤞🤞

Mkk298

So after previously being told (by our solicitor) that we could complete any day after the 8th (today), we are now being told by the estate agent that the top of the chain is still waiting on a leasehold management pack and are hoping to complete next Friday or the Friday after. 

Heard horror stories about how long it takes to get the management packs so once again feeling quite deflated.