The NEW waiting to exchange thread...

honeyimhome

NotWhereIWantToBe said:

honeyimhome said:

Does anyone have any advice?
we are waiting for the management company to reply to our enquiries - they can’t promise it’ll be done this week.
estate agent says its out of our hands
solicitors say it’s down to the sellers solicitors to chase
Top of chain threatening to pull out
what can I do? 

I had this issue - management company were  taking 30 days to answer each and every little thing and my solicitor said it was down to theirs and their solicitor said we had to give them 30 days each time. In the end my solicitor went on annual leave and her cover wouldn't chase them either so with some advice on here I contacted them myself and got a reply within 24 hours, and finally exchanged and completed on the same day, which was the day I was aiming for. If you can contact them yourself I would.

Hi, it’s a nightmare isn’t it. I have contacted them twice and they said seemed to have absolutely no urgency about it. I will try again today. As of today even with both solicitors chasing them, there’s still no replies. It is absolutely infuriating. 

PoisonIvy

We're hitting a roadblock on ours. We're in the middle of a small chain (we're selling to FTB and our purchase is no forward chain). We accepted an offer on our place on May 25th, had our offer accepted on the house we want on June 8th. Our buyers have since had all searches, surveys and enquiries on our present property completed. Meanwhile, our solicitor has yet to even receive a draft contract from the seller.

Apparently the place we are buying is (or was) a shared ownership property, but the Land Registry is still listing the property as leasehold. Our seller's EA informed us of this on July 1st and said that our seller is chasing to get it rectified but that it could take "some time".  Late last week the seller says that she needed to make a payment to the Housing Association (I wonder if this outstanding payment is why the title was never updated?), which was done on Monday of this week. However, they still have no timeframe as to when the title will be updated with the Land Registry. The buyer's EA is telling me that the buyer is "chasing for a timeframe". No assurance that they are urging the conveyancer that handled the enfranchisement to expedite the update, nothing. The EA is getting annoyed with my daily chasing.

This seller claims to be "motivated to complete quickly", but literally everything she does is at least a week between updates. She seems to think she has loads of time, and doesn't quite get that searches and enquiries can take several weeks to complete. Meanwhile, our solicitor cannot do anything with regards to searches, and the buyer's solicitor will not start on draft contracts until the title is updated. 

Our mortgage offer expires in November. I am very worried that we're going to be halfway into September before we can even start searches. 

Zerforax

We're down to our final 2 enquiries and our solicitors have asked for 2 indemnity policies to deal with both (covenant consent not sought and garage conversion issue).

Seller now annoyed that it means more money to address the issues and wants us to pay for the policies if we want them. Wife doesn't want to quibble over a few hundred quid whereas I'm annoyed about it (out of principle more than anything).

I know nothing is going to happen till Monday now when both sets of solicitors are back in the office (the people doing holiday cover not as good).

GTR_King

How long dose it normal take from offer accepted (March 2022) to Exchange contracts?

I am in the process of moving into flat rented (Mum owns it family rate) was meant to complete & have keys 1st July tenants extended one month,

but each time we ask tenants for update via letting agent (Usually once a week since early June) on house they buying all we get is either our conveying lawyer needs to ask few more question went from 20 (May) down to 3 (1st week of July) to waiting for exchange (Tuesday 12th July)

since covid do you lot find solicitors & conveyancers to be taking things really slow? What normally holds you up with exchange contacts

Should it really take this long?

I gonna wait & be patient 

Slithery

GTR_King said:

How long dose it normal take from offer accepted (March 2022) to Exchange contracts?

Usually anywhere between 1 week and 1 year.

GTR_King

Slithery said:

GTR_King said:

How long dose it normal take from offer accepted (March 2022) to Exchange contracts?

Usually anywhere between 1 week and 1 year.

Wow that a long time thought it was upto 6 months, just waiting for exchange & completion to happen before I can move in that’s
all what’s left

Sootster2021

I've been watching this thread for a long time but finally feel like I'm at the stage where I can contribute! We are first time buyers and have our mortgage offer, survey completed, 3/4 searches completed.  Just awaiting the local search which should be back this week (according to the current average times).  Not really sure what happens after this point or how quickly it will happen... it would be an absolute dream to exchange and complete in August but not sure whether September is more realistic trying to be patient but soooooo excited to be in our new home now!! 

euphoriik

Finally able to contribute myself now, FTB

mortgage offer received on 20/07
Searches started 18/07 
Searches came back 22/07
Enquiries started 22/07

Ive been advised by EA the sellers solicitors received the enquiries and need some replies from the seller themselves but once they have these they’ll send them to my solicitor. Also hoping for an august completion as our seller has no chain and neither do we, but maybe a September completion will be more realistic, but one can hope! 🤞🏻

Golden_Glow90

So final enquiries done and bottom of the chain have their contracts (us and the middle we’re done over a week ago) and the bottom now tells us they don’t have time to sign the co tracts, maybe tomorrow or Thursday 😡. So no chance of completing before the end of the month which means our developer will be putting the price up of the house we reserved as we haven’t met their deadline yet again. If this was my buyer I’d be telling him to do one, dragged their heels for six months and had the cheek to ask for us to pay for their rent overlap as they want 4 weeks between exchange and completion 

GlitteryTantrum

Hoping we might exchange this week and complete the next. It's all a bit up in the air... I believe things are ready, just waiting for the solicitors to agree. Could be sorted in the blink of an eye, could be another few weeks. Eek!