The NEW waiting to exchange thread...

mrso2012

Hi! I think I'm safe to join here (hopefully & finally!) 

We've had our offer accepted on our house and the mortgage offer came through 2 days ago so we are all good to go! Where we're up to below 

3/5 viewed the house

3/5 initial offer rejected 

4/5 offer upped 

5/5 offer rejected, upped again final offer 

5/5 🎉OFFER ACCEPTED!! 🎉  Instructed solicitor

13/5 mortgage application went in 

19/5 questions from Kensington & valuation instructed 

26/5 Valuation booked for 31/5

27/5 vendors had their offer accepted on a vacant property! 

31/5 valuation 

6/6 MORTGAGE OFFER RECEIVED🏡 💵  & searches instructed. 

I've instructed my solicitor to start searches but we still have not received the memo of sale or fixtures/fittings from our sellers solicitor so we're stuck. I contacted the EA to chase again today but he's out of the office. I'm hoping they just haven't done it yet as they were waiting for the chain to complete. Every time I speak to the EA he says they're eager to move quickly as are we and they have bought an empty house so nice short chain but no documents

doingitanyway

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. 

Pleased for you.
I've been waiting for less than a month and I'm already getting angsty. I'm also chain free. The thought of waiting 13 months falls me with dread. My vendor doesn't even have a house yet. Yikes!

doingitanyway

Sorry @t1redmonkey Your situation of an uncommitted vendor pulling out is my biggest fear! Hoping you find something better soon.

So I had an offer accepted 3 weeks ago but my vendor has yet to and a home for herself. I already feel impatient. However it is the house I  want so I  must be patient. I want to protect myself by looking at other properties too.  My goods have been in storage for over a year and I  am fed up after being both gazumped and then I have been outbid on 3 houses.

I will be posting here to keep my sanity.

Anyone else with an offer accepted but with a vendor who is yet to find a home?

dancingqueenielink

doingitanyway said:

Sorry @t1redmonkey Your situation of an uncommitted vendor pulling out is my biggest fear! Hoping you find something better soon.

So I had an offer accepted 3 weeks ago but my vendor has yet to and a home for herself. I already feel impatient. However it is the house I  want so I  must be patient. I want to protect myself by looking at other properties too.  My goods have been in storage for over a year and I  am fed up after being both gazumped and then I have been outbid on 3 houses.

I will be posting here to keep my sanity.

Anyone else with an offer accepted but with a vendor who is yet to find a home?

We were gazumped and then outbid on two houses ourselves. When we finally had an offer accepted on the one we're going through with now we spoke directly to the vendors as they were doing their own viewings. They hadn't found anywhere to move to yet. They took less than two weeks to find something though so that was fortunate for us as we didn't want to lose our buyers further down the chain. Good luck I hope they find something soon!

Richiem1987

Bit of a set back. After solicitor confirmed all remaining enquires were settled, when checking over my file today, she has found more unanswered enquiries, so another delay. Wanted it completed NLT the 8th July, as if we can't make that date, I won't be able to complete until the 29th July due to work commitments. So fustrating, but now expecting it to happen 29th July. 

Zerforax

Full mortgage application has gone in now. Broker doesn't expect the bank to do a proper valuation so I might have to find someone else to do the home buyers survey.. any thoughts on timing? Our broker said better to do later down the line as the bank basic valuation should pick up any major issues so no point in wasting money?

Antics

Zerforax said:

Full mortgage application has gone in now. Broker doesn't expect the bank to do a proper valuation so I might have to find someone else to do the home buyers survey.. any thoughts on timing? Our broker said better to do later down the line as the bank basic valuation should pick up any major issues so no point in wasting money?

Are sure your broker doesn't mean a desktop valuation? I.e. they don't actually visit the property, but confirm value from desk. 

If so, you can arrange your survey via a seperate company. 

mpa91

Mkk298 said:

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. 

Obtaining a Management Pack for the sale of our flat is becoming the bane of my life. Having previously posted on here about my frustrations with my solicitor's, this is the current timeline specifically relating to the Management Pack: 

- 06/04: Memorandum of Sale issued
- 16/05: Pack Request Form received from solicitor and completed same day, together with payment for level of service that aims to provide the Pack in 5 working days. Big frustration for me is why it took over a month for my solicitor to get the ball rolling on this. 
- 19/05: Form and payment received by Management Company (MC). Unnecessary 3 day delay.
- 25/05: MC advised Pack was ready to issue however required Housing Association (HA) written consent (as the freeholder), which they advised they told my solicitor when sharing the Pack Request Form on 14/05. NB. I only became aware of any of this on Wednesday (8 June). 
- 26/05: MC received confirmation from my solicitor that I own 100% of the flat, having previously staircased from shared ownership. MC advised this is not what they had on record.
- 30/05: My solicitor chased for the Pack
- 01/06: MC advised solicitor that because the HA, and not me, was named on the account then their permission was still required. 
- 01/06: Being unaware of all of the above, and having only been told by my solicitor that the Pack remained outstanding, I raised a complaint with the MC and requested a refund of the difference between the level of service I paid for compared to the standard service. 
- 07/06: Having also raised a query on Twitter with the MC, I was advised of the outstanding HA authority. I then contacted the HA directly and was able to be put through to the correct person who advised no such authority was required. I provided the HA contact with the details of my solicitor and they called my solicitor to confirm the same. 
- 08/06: Followed up with solicitor to confirm if everything was now resolved. Solicitor advised that a Sale Pack was also outstanding from HA (never mentioned this before). I followed up with HA contact who confirmed this was not required as  per their conversation with my solicitor the day before, and asked for any queries to be directed to them. 
- 08/06: Formal response to MC complaint received, confirming refund requested. The response detailed a lot of the above that I was until then unaware, and advised that they were waiting on a response from HA to release the Pack. I provided the details of the HA contact I had to avoid any further delays. 

As of this morning, I am still to receive confirmation that the Pack has been shared. Apologies for the long post - am I being unreasonable in being thoroughly dissatisfied with the level of service being provided, primarily by my solicitor? 

jimmymac87

Richiem1987 said:

Bit of a set back. After solicitor confirmed all remaining enquires were settled, when checking over my file today, she has found more unanswered enquiries, so another delay. Wanted it completed NLT the 8th July, as if we can't make that date, I won't be able to complete until the 29th July due to work commitments. So fustrating, but now expecting it to happen 29th July. 

 Oh, that's so frustrating. Hope they get sorted quickly.

You sound on a very similar timeline as us, as we're hoping to complete a similar time. Everything in place, just waiting for the solicitors to get round to exchange...don't think I'll rest until that day

doingitanyway

dancingqueenielink said:

doingitanyway said:

Sorry @t1redmonkey Your situation of an uncommitted vendor pulling out is my biggest fear! Hoping you find something better soon.

So I had an offer accepted 3 weeks ago but my vendor has yet to and a home for herself. I already feel impatient. However it is the house I  want so I  must be patient. I want to protect myself by looking at other properties too.  My goods have been in storage for over a year and I  am fed up after being both gazumped and then I have been outbid on 3 houses.

I will be posting here to keep my sanity.

Anyone else with an offer accepted but with a vendor who is yet to find a home?

We were gazumped and then outbid on two houses ourselves. When we finally had an offer accepted on the one we're going through with now we spoke directly to the vendors as they were doing their own viewings. They hadn't found anywhere to move to yet. They took less than two weeks to find something though so that was fortunate for us as we didn't want to lose our buyers further down the chain. Good luck I hope they find something soon!

Thanks @dancingqueenielink. Someone with the same back story of being outbid and gazumped! It is like the Wild West out there! Fingers crossed my vendor finds somewhere soon. What is your position now?