The NEW waiting to exchange thread...

Zerforax

GlitteryTantrum said:

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!

I think we're in a similar boat. Although I thought that last week and the week before!

GlitteryTantrum

Zerforax said:

GlitteryTantrum said:

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!

I think we're in a similar boat. Although I thought that last week and the week before!

I hope you're not waiting too much longer! 

hpsauce86

So our vendors new build purchase final enquiry should be resolved by Tuesday. I’ve spent this week getting directors involved in both her purchase and ours because it’s ridiculous at this point. 

Hoping to exchange next week if her solicitor can pull her finger out finally. Still aiming to complete 22nd august (although our vendor asked us to extend our mortgage - she thinks it expires end of august but it’s actually 8th September. We’re going to apply for an extension to cover ourselves but still going to push for it to go through before it does expire). 5 months later almost there 😅😅

beckstas-money

Do i have to agree with all the enquiries my solicitor has asked? One being confirmation of parking space. We know there isn’t one. It’s a leasehold flat with kerb parking on the road outside.

i feel like enquiries like this are seriously holding us up… 8 months in both chain free

Comptoncare

Well finally I have exchanged today on both my sale and purchase with completion being confirmed for the 5th August.

This is a 6 handed chain which has had various trials and tribulations I was 3rd in the chain. My house went on the market on Boxing Day 2021, went under offer first week of Jan 2022 over the asking price. I found my property, my buyer then pulled out weeks later no explanation given, another buyer found within days, problems further up the chain with a probate  etc etc.
To say its been a tortuous process is to say the least, and  I won't be doing it ever again unless there is some serious reform to the whole process.
Good luck to those who are still negotiating the process.

Zerforax

beckstas-money said:

Do i have to agree with all the enquiries my solicitor has asked? One being confirmation of parking space. We know there isn’t one. It’s a leasehold flat with kerb parking on the road outside.

i feel like enquiries like this are seriously holding us up… 8 months in both chain free

Better for the solicitor to have on record of confirmation that no parking space. What you know has no real basis if it later proves to be incorrect.

SlinkyWeevil

We can finally join this thread now.  Searches are all done, so just waiting on the vendors solicitors to answer the enquiries.  They insist only on postal contact so please pray for us  . We have emailed the estate agent today and said we would like to complete by 31st August considering this is a no chain purchase of the rental house we’re currently living in.  It’s all dependent on the incompetence of the vendors solicitors (who took 6 weeks to send the draft contracts), but we live in hope! 

DiyVirgin

DiyVirgin said:

DiyVirgin said:

Tentatively joining this thread!

08/03 - property up for sale
16/05 - offer accepted from FTB
23/05 - offer accepted on New Property
23/05 - Solicitors Instructed
24/05 - Mortgage Application Submitted
27/05 - Mortgage Offer Received (couldn't believe how fast it was!)
07/06 - Sale contract documents signed and returned. Searches applied for purchase and lease pack requested for sale
20/06 - Contract documents received, signed and returned for purchase and enquires sent off to vendor. Lease pack chased.
21/06 - Survey done - nothing we weren't expecting a couple of extra enquires but nothing major. Lease pack paid for (Council claim they didn't get the original email request and once payment received 10 working day turn around, requested its expedited due to delay) 
29/06 - Chased lease pack as no receipt for payment or reply to expedition request. Lease pack received later in the day and sent to buyers sols
05/07 - Email sent to our sols to confirm position on both sale and purchase. Enquires rec from buyer, replied immediately.

All has moved so quickly I am tentatively hoping we could be in early August. But as far as I know our buyer still hasn't had their mortgage offer. We are waiting for a couple of searches on our purchase still and responses to the enquires but believe these should be in this week from sols feedback.

We are at 7 weeks from accepting the offer on our property this week and 6 from offering on our new place so if we complete early August we are looking at total 11/12 weeks which would be amazing! Trying not to get carried away but might go a buy some moving boxes soon!

Buyer has their mortgage offer and the last of our searches are in now so just waiting for the enquiry responses from our vendor! They had a sale fall through before we offered and were supposedly trying to exchange after only 6 weeks then the buyer went quiet and stopped replying so they said they would put it back on the market if no reply which is what they did.

I now find it ironic that it is them that we are waiting for to be able to discuss exchange and completion dates, when they wanted weekly updates on progress so it all moved quickly!

After being so pleased with how quickly things were moving and thinking we would complete by the end of July that was scuppered by the vendors solicitors sitting on the enquiries for 5 weeks!
They finally came in yesterday. Our buyer is now pushing saying their mortgage offer expires at the end of August so they need to get the move done asap, not sure i buy this as we were told on 07/07 that they had received their offer so was it really only valid for 2 months???!!! I suspect its more to do with them wanting to get out of their rented without too much overlap.
But anyway we should hopefully be exchanging in the next week and looking to complete in 2 weeks 12th August!

Zerforax

SlinkyWeevil said:

We can finally join this thread now.  Searches are all done, so just waiting on the vendors solicitors to answer the enquiries.  They insist only on postal contact so please pray for us  . We have emailed the estate agent today and said we would like to complete by 31st August considering this is a no chain purchase of the rental house we’re currently living in.  It’s all dependent on the incompetence of the vendors solicitors (who took 6 weeks to send the draft contracts), but we live in hope! 

Wow who's bright idea was it to instruct solicitors who will only be contacted via post?! That alone will add extra time to your transaction..

DiyVirgin said:

After being so pleased with how quickly things were moving and thinking we would complete by the end of July that was scuppered by the vendors solicitors sitting on the enquiries for 5 weeks!
They finally came in yesterday. Our buyer is now pushing saying their mortgage offer expires at the end of August so they need to get the move done asap, not sure i buy this as we were told on 07/07 that they had received their offer so was it really only valid for 2 months???!!! I suspect its more to do with them wanting to get out of their rented without too much overlap.
But anyway we should hopefully be exchanging in the next week and looking to complete in 2 weeks 12th August!

Jeez and no one chased the vendors solicitors? The estate agent or vendor should have been doing that! Although maybe the vendor was buying time and asked their solicitors to delay. I guess completing as soon as possible is in your interest too so doesn't really matter.

SlinkyWeevil

Zerforax said:

Wow who's bright idea was it to instruct solicitors who will only be contacted via post?! That alone will add extra time to your transaction..

Even the estate agents advised them to pick a new solicitor but they’ve insisted on staying as the solicitor is dealing with their “other matters” as well *rolls eyes*