The NEW waiting to exchange thread...

carly_8889

Well, we can only complete next Friday if we exchange by tomorrow latest. Our lender need 5 days to sort the funds.

Our buyer as far as we are aware still has the contract, it sounds like his solicitor saved all docs for one hit so he has a huge batch to go through but he has had it all since Monday. Postal strikes start today and be doesn't drive. Have spent the first 45 mins of the day begging Our EA to find our what his plan is, if he has one.

It took a while to convince the people we are buying from to accept a September date. Not sure how they'll react to a further delay but I am preparing myself for no exchange, no completion and some tricky conversations.

Exhausted.

trakky14

carly_8889 said:

Well, we can only complete next Friday if we exchange by tomorrow latest. Our lender need 5 days to sort the funds.

Our buyer as far as we are aware still has the contract, it sounds like his solicitor saved all docs for one hit so he has a huge batch to go through but he has had it all since Monday. Postal strikes start today and be doesn't drive. Have spent the first 45 mins of the day begging Our EA to find our what his plan is, if he has one.

It took a while to convince the people we are buying from to accept a September date. Not sure how they'll react to a further delay but I am preparing myself for no exchange, no completion and some tricky conversations.

Exhausted.

Oh my goodness that sounds so stressful!! We were hoping for next Friday too (our monies can be requested sooner than 5 days but no idea re the others in the chain!)...our buyers solicitors have probably not even looked at our responses to the enquiries sent earlier this week so it does look like next Friday wont happen.

We told our vendors early September....they have already put stuff in storage so are on camp beds in the house!! They broke the chain for us too...we are going to be looked on really badly but its not our fault, and I guess you have to look at it that way too! I'm sure you have been chasing as much as we have. 

hpsauce86

Well, we’ve still not exchanged. We’ve still been told we are completing on Monday but I’m really unsure at the moment. Apparently they are still working on this disclaimer for our vendors that they have been working on for 3 weeks. Every week they say the same. They’ve said they are going to aim to exchange tomorrow (heard that before about 6 times now). We shall see! I feel like we need huge prayers at the moment. We’ve sent all our money to our solicitor on Saturday, so we are good to go. Our vendor still says we are ok for Monday but I just don’t trust her solicitors whatsoever. Stressed is an understatement! 

Now well over 7 months since our offer was accepted. 😤😫

carly_8889

Really feel for you guys, I hope it all comes together for you.

Our buyer got his signed paperwork to his solicitor yesterday, fantastic. Now his solicitor have decided to ask two more questions. It's enough to drive you mad.

We've answered them now, and our buyer's money should be on the way over now.

TTM

I'm really struggling with the EA involved in trying to wrangle our chain to agree exchange dates and the general lack of communication.  Can someone tell me if they are allowed to phone each solicitor involved and ask where things currently stand for every party?
Thanks

hpsauce86

TTM said:

I'm really struggling with the EA involved in trying to wrangle our chain to agree exchange dates and the general lack of communication.  Can someone tell me if they are allowed to phone each solicitor involved and ask where things currently stand for every party?
Thanks

No, they won’t discuss dates with solicitors. We got the sales progression handling our purchase (vendors sale), as she recommended the c**p solicitors to our vendor and knows them. So she’s been trying to resolve the issues for us. The estate agents on her new build side I’ve also got involved in it to try and resolve the issue she’s had. But usually no, unless it’s an emergency. Ours is/was as we were down to the final weeks before our mortgage extension ran out. 

All you can do is get them to speak to your vendor really to get them to put pressure on their solicitor. It’s a pain! 

TTM

Thanks for clarifying 

James_D

James_D said:

Hi everyone! FTBs here. We've found this a really useful thread and so thought I'd contribute with our own ongoing timeline. Also in the event it goes wrong along the way, perhaps someone can give advice!

So far :
4 April 2022 - First viewing, offer made
5 April 2022 - Offer accepted
5 April 2022 - Solicitors instructed (told pens down pending mortgage offer)
5 April 2022 - Mortgage application went in
19 April 2022 - Valuation confirms offer level acceptable
28 April 2022 - Mortgage application query (dealt with by broker)
5 May 2022 - Mortgage offer
5 May 2022 - Homebuyer's survey booked
9 May 2022 - Solicitors start work

To come : 
12 May 2022 - Homebuyers survey
21 May 2022 - Second viewing
Beyond - Everything else.

The only frustrating thing to report so far is the vendor taking their time about finding a conveyancer to instruct - which of course means there is only so much work our solicitors can do for now.

The EA said the vendor made an offer which has been accepted on a vacant leasehold flat. They expect that the landlord (a property management company) will not want to wait around too long for the process to kick off since it is sat vacant (used to be a rental). I guess in theory it should be a relatively straightforward process, since the vendor is not going to be waiting on anyone else finding somewhere to move and we are FTBs??

Having read through this thread though, not getting too excited until those keys are firmly within our grasp .. (!)

Me again. I've been following this thread for months now alongside our own endeavours to buy our first house. After having our offer accepted back on 4 April, yesterday (7 September 2022) we finally exchanged. 

What I found interesting (and pretty frustrating) is that the elderly lady, whilst letting us in for a final viewing and showing us around the home we are buying from her without her EA (apparently because everyone was on leave .. ?!) told us that when she bought the house in 1995, it had taken her two weeks from having her offer accepted to her moving in. How things have changed ..

We are supposed to be completing 4 October. Interesting symmetry given that we made our offer 4 April - exactly 6 months! 

I won't be celebrating until those keys are firmly in our grasp. Wish us luck!

trakky14

TTM said:

I'm really struggling with the EA involved in trying to wrangle our chain to agree exchange dates and the general lack of communication.  Can someone tell me if they are allowed to phone each solicitor involved and ask where things currently stand for every party?
Thanks

Not sure if they are "allowed" to but ours are!! We've got a delay with our sale thanks to our buyers solicitors not responding to pretty much anything at the moment, we were meant to be completing today but of course that hasn't happened...so our estate agent is chasing the solicitors for an update and now the estate agents handling our purchase are also chasing them (they offered!)...our solicitor has actually been really good at updating us so we're hoping 2 sets of estate agents hassling/prompting might get things moving again. 

This whole "we aren't allowed to" nonsense drives me mad!! 

carly_8889

The latest saga in our process. Due to exchange today, our solicitor just called to take instruction and confirmed that our buyer transferred 20k of his deposit yesterday and he needs confirmation that he has subsequently sent the remaining 9k. Every time we get a step closer it is never quite enough! If I get through this without permanently raised blood pressure it will be a miracle.

Keeping everything crossed that he has sent the rest of the money and that exchange goes ahead today......