The NEW waiting to exchange thread...

Megaross

Still bloody waiting today.

Not sure whether to apply for a backup mortgage yet. 

It does feel like betting the farm at the moment to be honest with you. And I have zero control or zero idea what is holding it up or whether it'll be resolved by the 30th

I suppose my worst fear is if we don't complete next week my sellers (now expecting a baby) will pull out because the stress is too much. I'm really stuffed then - stuck in the position whereby I can't afford to buy a property I would consider living in and no real home in the interim.

honeyimhome

Megaross said:

Still bloody waiting today.

Not sure whether to apply for a backup mortgage yet. 

It does feel like betting the farm at the moment to be honest with you. And I have zero control or zero idea what is holding it up or whether it'll be resolved by the 30th

I suppose my worst fear is if we don't complete next week my sellers (now expecting a baby) will pull out because the stress is too much. I'm really stuffed then - stuck in the position whereby I can't afford to buy a property I would consider living in and no real home in the interim.

I really feel for you this seems awful. Can you personally go to the solicitors office? My family were selling my nans house which took over 6 months. The day of exchange came and they heard nothing. In the afternoon my family rang them and had very strong words with the solicitor, who was saying the survey still needed to be done (it had been done months ago) and demanded exchange happened within the next couple of hours. They suddenly pulled it out of the bag at the last minute. 

Megaross

honeyimhome said:

Megaross said:

Still bloody waiting today.

Not sure whether to apply for a backup mortgage yet. 

It does feel like betting the farm at the moment to be honest with you. And I have zero control or zero idea what is holding it up or whether it'll be resolved by the 30th

I suppose my worst fear is if we don't complete next week my sellers (now expecting a baby) will pull out because the stress is too much. I'm really stuffed then - stuck in the position whereby I can't afford to buy a property I would consider living in and no real home in the interim.

I really feel for you this seems awful. Can you personally go to the solicitors office? My family were selling my nans house which took over 6 months. The day of exchange came and they heard nothing. In the afternoon my family rang them and had very strong words with the solicitor, who was saying the survey still needed to be done (it had been done months ago) and demanded exchange happened within the next couple of hours. They suddenly pulled it out of the bag at the last minute. 

Trouble is it isn't my solicitor, I specifically chose mine because I know she's super proactive and easy to contact from the last time. I didn't even ask for a quote  - just enlisted them.

I've been ready since early may 2021 (no, seriously) and mine probably took 2 months tops to be ready for the sale and purchase.

It's the solicitors dealing with my sellers purchase, and the fact my sellers solicitor is absolutely useless (they were considering replacing him - the guy is useless)

We're now in the position where I'm ready, sellers are ready but the solicitor selling their purchase (no onward chain, think it's a new build) won't give the undertaking to exchange because they're waiting on "some documentation" before they can.

No one knows what this documentation is or whether it even has a chance of being ready. I don't know whether my sellers solicitor has requested funds because they can't get in contact with him.

Safe to say we're all pretty haggered over this ridiculously protracted move. Everyone is sick of it.

To say nothing of me and my best mate getting real sick of each other because 2 single blokes in their 30's need their own space frankly.

hpsauce86

Megaross said:

honeyimhome said:

Megaross said:

Still bloody waiting today.

Not sure whether to apply for a backup mortgage yet. 

It does feel like betting the farm at the moment to be honest with you. And I have zero control or zero idea what is holding it up or whether it'll be resolved by the 30th

I suppose my worst fear is if we don't complete next week my sellers (now expecting a baby) will pull out because the stress is too much. I'm really stuffed then - stuck in the position whereby I can't afford to buy a property I would consider living in and no real home in the interim.

I really feel for you this seems awful. Can you personally go to the solicitors office? My family were selling my nans house which took over 6 months. The day of exchange came and they heard nothing. In the afternoon my family rang them and had very strong words with the solicitor, who was saying the survey still needed to be done (it had been done months ago) and demanded exchange happened within the next couple of hours. They suddenly pulled it out of the bag at the last minute. 

Trouble is it isn't my solicitor, I specifically chose mine because I know she's super proactive and easy to contact from the last time. I didn't even ask for a quote  - just enlisted them.

I've been ready since early may 2021 (no, seriously) and mine probably took 2 months tops to be ready for the sale and purchase.

It's the solicitors dealing with my sellers purchase, and the fact my sellers solicitor is absolutely useless (they were considering replacing him - the guy is useless)

We're now in the position where I'm ready, sellers are ready but the solicitor selling their purchase (no onward chain, think it's a new build) won't give the undertaking to exchange because they're waiting on "some documentation" before they can.

No one knows what this documentation is or whether it even has a chance of being ready. I don't know whether my sellers solicitor has requested funds because they can't get in contact with him.

Safe to say we're all pretty haggered over this ridiculously protracted move. Everyone is sick of it.

To say nothing of me and my best mate getting real sick of each other because 2 single blokes in their 30's need their own space frankly.

Ah bless you. It’s infuriating isn’t it! The new build stuff you always expect to be slow but it feels like developers solicitors are absolutely awful! 

Our vendor is buying a new build too and they have 3 all from the same development going through at once, so we’re having to wait for the other two to sort themselves out as the solicitor is totally incapable of multitasking. They still haven’t sent all enquiries to anyone yet, but are demanding we exchange and complete this month (literally no chance in happening)!
Hope you manage to get it all sorted today, it’s stressful! Fingers crossed 😊

Megaross

Honestly it's a nightmare. No tricks left in the book, no contacts of contacts who can help expedite this. Just sit and watch my fate unfold and my wallet get lighter.

Thanks, hope yours goes smoothly too.

Mkk298

Mkk298 said:

Solicitor asked for authority to exchange yesterday but then never got back to us so I assume it didn’t happen. Fingers crossed for exchange today! I really don’t want to do a same day exchange and completion.

Nothing yet. Rang them and they said they’re waiting on the sellers. 

Don’t know what we’re waiting on. 24th is the date they suggested so not sure why they’re not answering. Not holding out much hope. 

Mkk298

Mkk298 said:

Nothing yet. Rang them and they said they’re waiting on the sellers. 

Don’t know what we’re waiting on. 24th is the date they suggested so not sure why they’re not answering. Not holding out much hope. 

Haven’t exchanged. Apparently the top of the chain solicitor is on holiday and that’s why they haven’t been able to. He’s supposedly back in the office tomorrow and they want to same day exchange and complete. Not much hope for that either. 

Megaross

My financial advisor is putting in a new mortgage application to sure this up, the deal retaining my early repayment charges.

I'm hoping to buggery we get some good news today. I suppose worst case scenario I lose a few hundred pounds.

Last time the mortgage company were pretty quick so we should be on for mid August worst case I guess.

Well worst case they get fed up and pull out, though that would mess me up for years so we won't contemplate that...

Assuming this chain top has their !!!!!! together by then anyway - boggles my mind though, how can a no onward chain property not be ready when everyone else is and we've been in this over 4 months now.

That said I'm not religious but praying, begging the karmic forces, rubbing the lucky rabbits foot and whatever else I can do it it'll get this 30th completion done.

For all of our sakes, stressed as I am I feel awful for the people I'm buying off as we're all in the same boat but they've the added complexity of a baby on the way. Awful situation for all involved.

mpa91

mpa91 said:

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? 

The saga continues for us. MC finally provided management pack on 14/06, however there was some information outstanding that needs to be provided by the HA. As of today this remains outstanding. 

Our buyer's solicitor has suggested we take out an indemnity policy for our buyers. This was shared with us by our solicitors without any explanation as to why this is required. We are selling a 7yr old flat and have been the only owners so I'm a bit baffled. Plus the fact our solicitors are asking for an arrangement fee of £70 on top of the £100 policy. I realise the policy will probably help speed things up but resent having to pay if it's due to issues that could be easily resolved if people communicated in a clear and timely manner. 

Megaross

You do have to factor in risk and cost of the alternative path when it comes to indemnity insurance.

If £170 gets you in the position to complete and secures the buyer, it may well be worthwhile.

Depends if you think your buyer will wait around for the housing association or how long you think they'll take.