The NEW waiting to exchange thread...

dancingqueenielink

I posted last week about hopefully exchanging this week...we hadn't had our enquiries all back and one search for our buyer wasn't even ordered 🤣 omg. 
What a palava. I thought no way will we be exchanging any time soon after hearing that but we found out the search was just a drainage one that takes two days usually so we held out hope still for this Friday. 

This morning we've heard search is back 👏. All enquiries are answered and I've signed contract for my new home. I'm yet to sign the contract for selling my current house. My solicitor is chasing that up this afternoon. She thinks if we hear back this afternoon or tomorrow we can still go ahead for Friday...we will see. 
I hope so because I've sold all the furniture we didn't want and boxed up everything we don't use. I feel like a hoarder right now navigating my tiny home with boxes all over it. Nearly there though we think. Hoping for completion on Monday if we can get exchange done on Friday 😊🔑🏡 we shall see....good job I'm not stressed too much. Yet. 😬🤪

dancingqueenielink

pipscat said:

I'm hoping we're close to exchange and completion now. The searches have just come back for our buyers and we've signed everything and all our searches were completed for the house we're buying.

Our buyer raised one query from the searches about the alleyway behind our house (access and who maintains etc), which we hope has now been answered. Fingers crossed we can agree a date in the next couple of weeks!  

Good luck hope it's all plain sailing from here on in for you!

dancingqueenielink

I'm in a different position, my solicitor is slow and incompetent. I'm not sure what can be done but leave a bad review after its all finished.

My sister bought a house recently and the difference between our solicitors is like night and day.

Our solicitor for my last house purchase was a recommended one from our mortgage company. They said they like to work with only a few solicitors 🤔 had never heard of that before and I've bought a few houses in my time. We went with them and omg they were absolutely useless. And there wasn't much I could do either. Aside from warn everyone off them that I come across buying or selling. Although we're a little stressed because the people we're buying from want a move asap I think our process this time was well explained, we've had constant communication throughout and it's all been done relatively quickly.
The last solicitor that I don't know if I can name on here (but I believe to be a big firm) took nearly six months to get everything done and we were ftb and the house was empty that we were moving into 😬 i feel for you and hope you're near the end now!

jimmymac87

Update for us: 

Everything is back, paperwork signed, all in the chain have agreed a completion date. Still feeling nervous but excited

Quick question: this was on Friday. I've chased solicitors Friday and today about exchanging and nothing back yet. Now Everything is in place, is there any reason why we/they wouldn't exchange immediately?

pipscat

update:

we've had confirmation today that all parties have agreed a completion date of 4th July!  

Mkk298

Haven’t heard anything since we got told completion should be the 17th or 24th. I’m assuming it’s too late for the 17th now. Wish we got updated more often. 

hpsauce86

Still waiting here. 

Apparently there’s a couple of enquiries outstanding on the vendors new build and no one can reach the developers solicitor which is entirely unhelpful. 

Both us and the vendor are desperate to exchange and complete now. Though it’s looking less and less likely it’s going to happen by the end of the month (again).

dancingqueenielink

So search actually wasn't back 🤦🏻‍♀️
And we've been told two weeks until it's back.
Things literally changing by the hour. It is so stressful.

We told everyone in the chain the news. No one was happy so we've all been on to our solicitors and estate agents. I have to say mine is very good as is the one at the top of the chain. One at the bottom not so much. Anyway long and short of it is the people buying our house are happy to go ahead without the search back. I think it will all be okay anyway tbh.

Exchange and completion should be this week once again on Friday. I best get packing 😬🤣. And pray nothing else changes between now and then!

Mkk298

Mkk298 said:

Haven’t heard anything since we got told completion should be the 17th or 24th. I’m assuming it’s too late for the 17th now. Wish we got updated more often. 

Mortgage funds will be released on 23rd and our solicitor is preparing our final statement. Haven’t exchanged yet but looks like we’re on for completion on the 24th!

livdawsonn

Here is our timeline so far:
18/03/2022 - offer accepted on house as ftb
29/03/2022 - vendors onward purchase offer accepted
22/04/2022 - mortgage offer received in post after some errors
25/04/2022 - valuation done by lender
26/04/2022 - searches back
15/05/2022 - enquiries fulfilled
12/06/2022 - transfer and contract signed and returned

We have been told we are ready to exchange now, unfortunately due to our vendors purchasing a property which currently has tenants in, we have to wait till the move out 31st of July with a completion date of 1st of August.

So, with a little over 6 weeks to wait, would you say this is acceptable to exchange as the EA has mentioned? As FTB I can't help but worry, but with the tenanted property being above us in the chain is this our concern?  My main worry is something goes pear shaped, the tenants don't leave, our vendors then can't complete on their home with it still being tenanted, which in turn means we also can't. 

Any help/advice would be appreciated as I can't help but stress!