The NEW waiting to exchange thread...

dfwprincess

It might depend, we’ve been battling for nearly 16 weeks with a no chain sale (we’re ftb, property is empty and not probate) and our solicitors had to confirm completion on Friday with the sellers solicitor for enough time for funds to be released to complete next Friday due the bank holiday on Monday 

we did prod the estate agent quiet a bit towards the end as she was the only one that could get straight answers it seemed! It’s a very frustrating process 

hope you get the answers you want soon

trakky14

maton91 said:

Signed my purchase documentation for a chain free house on the 5th September. Advised my solicitor I'd be happy to complete on Friday 23rd September, as I'm buying with a LISA it gives additional time for funds to clear.

My solicitor advised the vendor's solicitor this on 6th September. Kept chasing it up and last I heard was on the 14th September the vendor's solicitor noting receipt of the proposed date and getting the file signed off internally. That was a whole week between my solicitor notifying them!

According to the EA the vendor's solicitors were instructed to complete ASAP, obviously not...

Can't see next Friday happening now... After nearly 14 weeks I just want this over with! Is it worth me speaking to the EA to give the vendor a nudge or should I just wait?r.

I would ask your estate agent to chase them, 100%!!

We signed our paperwork weeks ago, the current delay is our buyers solicitors....we replied to further enquiries 2 weeks ago and no reply since. I'm going out of my mind here! I've got every estate agent chasing them and our own solicitors but until we hear back from them we can't exchange etc...we are now 2 weeks AFTER we were originally going to complete...

Chemistry777

Same frustrations as everyone else, other week has passed still waiting for enquiries from the buyer following their searches (if any).  My Solicitor says she has chased last week and again this morning without response.

Maybe buyer getting cold feet, maybe they are just as frustrated as I am and think I am getting cold feet..   The whole system is so broken.

alibean121

My solicitor has just asked if I can complete on 29th September. I’ve said yes. Every time I or the estate agent have asked about dates before, they’ve just said we’re not ready to talk about it.

I still haven’t signed my contract but starting to think this might actually happen. I’ve got 4 weeks until my mortgage offer expires. There’s no possibility to extend it, would be a new application at today’s rates.

julicorn

julicorn said:

julicorn said:

julicorn said:

julicorn said:

julicorn said:

julicorn said:

Chain made up of 6 properties, and both our vendor and we have our mortgage offers running out end of this month. 
One big stumbling block was that probate at the top of the chain hadn't been granted yet, but I just found out today that it has been granted finally!
So we have 3 weeks left to complete. Allegedly everyone is almost at exchange state, but I'll believe it when I see it. Feels like our estate agent has been saying the same thing for the last 2 months, so all I can do is keep my fingers crossed and chase. 

Our solicitor sent us the finalised contract for our sale to sign yesterday, buyer has already signed and returned it. 1 transaction ready, potentially 5 more to go. Gonna try to do some detective work tomorrow to find out exactly where everyone is at, but it's definitely easier said than done.

Check-in today with both sets of estate agents. The estate agent we're selling through said she checked in with the rest of the chain end of last week, they're all 'on the last of the enquiries', which I suppose could mean absolutely anything. 

The estate agent we're buying through started discussing dates. He suggested the 28th for completion, exchange a week before. That would work well for us, but we were the first party he spoke to - no idea what the rest of the chain had to say. 

I'm just sat here constantly waiting for some sort of update, when I know perfectly well that there won't be anything more to say for now. I just can't really concentrate on anything else, just constantly thinking about the move / sale / purchase. 

Where we got to yesterday: The one outstanding document we needed for our purchase has been dealt with now, so we're good to sign the finalised contract for that as well. So I suppose it's 2 transactions ready, potentially 4 more to go. 

I've not heard back on whether anyone else is even aiming for the 28th at this point, and feel a bit ignored by the people who can help move this along (estate agents, etc). I know I'm probably annoying them by chasing too much, but we've only got 2 more weeks and the uncertainty is just stressing me out to no end. 

Further chaos, although at least one of the estate agents is getting back to me quite quickly at the moment and also seems super keen to push this through. Turns out that the buyer buying the probate property doesn't have a mobile phone, and is hard to get hold of. Fun times! I've also still heard nothing from the 2 parties below us, so not convinced this is going anywhere at the moment. I'm feeling a bit calmer today so I guess that's something. 

It went downhill after that. People got through to the old lady buying the probate property, it turns out she's now worried some survey results she got a while ago and essentially pulled out of the sale. The estate agents are trying to negotiate some sort of price reduction to keep the sale going. 
Estate agent then called our seller to break the news, who's now throwing an equally big wobble, saying she can't afford the new mortgage rates (her mortgage also expires end of this month), and will probably have to pull out, unless she can get a price reduction. 

So the whole chain above us is currently collapsing like a house of cards. We're considering breaking the chain and going into rented; we'd rather just sell to our current buyer and have at least part of this horrendous process over and done with. Will just have to scope that out properly on the weekend, see how many estate agents even still do 6 month minimum contracts (most around here seem to be 12 months now). 

Basically, happy Friday everyone!

Latest update is that the old lady definitely pulled out of her purchase, so is now looking for a new home to buy. 
We did a bit of research on the weekend and are still willing to break the chain and find a rental. The good news is that our seller still wants to sell to us, so that's something at least. There's some rumours / chat about someone up the chain potentially being persuaded to break the chain as well, so that would save us having to do it, but I'll only believe that when I see it. Either way, people above us might need a few more days to work out what exactly their plan is, but I've emailed our mortgage adviser to get a new application underway - the rates aren't exactly getting any better, so might as well get the ball rolling now. 

secla

Ea arranged with vendor completion for 28th and exchange for today only to be told by solicitors that they will need to wait to get confirmation of funds from lender before they can exchange.

really trying to get exchanged asap as the seller is being quite awkward and don’t want them to change there mind after we’ve finally got a date agreed

trakky14

We've just been told by our solicitor that as bottom of the chain (buyers buyers) are away until the 24th they are not expecting to discuss dates until then...in this day and age surely people are contactable by phone/email while they are on holiday especially if there is a pending house purchase about to happen?!

This system is a total joke, I've never known such incompetence in any other industry! 

PixelPatch

We were supposed to exchange friday, but our solicitor made a huge error on the thursday, by assuming we didn't have a mortgage. That's right.

Despite it being on memorandum of sale and despite my emailing him when we had our offer through and despite Natwest sending them everything on the 5th August. Our account said we didn't need a mortgage.

So. I ran around like a headless chicken to get that all filled in and signed and witnessed. I work from home and had to get into my office to use their printer.

Then on Friday, the buyer's solicitor had not sent my partner a deed of variation to sign for his house sale, as the management company no longer manage the estate this had to be acknowledged. 2nd day of running around like a headless chicken, printing off more stuff in my office and signing and witnessing and sending back special delivery for this morning.

Today. Solicitor at the bottom of the chain says they are ready to exchange. Then when our solicitor contacts them for release, they have gone out. 

As of now, it seems we may not exchange today either. Because of 3 separate incidents with 3 solicitors in the chain. We are still apparently on track for completion friday. Which we better had. Its the only day removals can move my partner's stuff out of his house.

Never again.

dfwprincess

We was meant to exchange today, but our solicitor can’t get hold of the sellers solicitor to confirm and start the ball rolling … also hoping to complete Friday! We go away after this weekend for two weeks so we need to complete Friday or it’s mid October. (Not completing whilst we’re away when it’s sellers side causing the delays!) 

I don’t get how they can agree something on Friday (when exchange/completion was agreed) and then today radio silence!! So got to hope we exchange tomorrow or even on the day thankfully ours it’s a chain of one but we need to give our notice here soon to not have to pay another months rent etc so getting very close to the wire, can’t believe how long and drawn out it all is!

PixelPatch

I think what boggles my mind is how they get away with the disorganisation of something so important! 

And how anyone can agree they're ready to exchange and then go wandering off!

I have everything crossed for you.