The NEW waiting to exchange thread...

Domaco16

That happened to us - the day we were supposed to exchange - everybody ready- total silence from the first in the chain- no one could get hold of them at all- that was a Friday so then we had all weekend annoyed - in end they were waiting for some paperwork but hadn’t bothered to tell anyone they couldn’t exchange that day- it wasn’t till the following Thursday we finally exchanged but it was a time of crap communication and frustration!! 

dfwprincess

I just don’t get how the communication falls apart! It’s been a hard slog to get here as the seller has dragged their feet with returning of paperwork so it’s more delays due to them and more time in rental for us (we’re buying an empty property, not probate so you’d think he’d want rid asap!)

scroogemcduck2

https://twitter.com/hendopolis/status/1572337547870900227?t=F5DDDCW-B72aCFeiV-jQjA&s=19

Does anyone know from previous experience how quickly stamp duty changes are implemented when they're announced? We are due to exchange this week and complete next. If changes aren't immediate presumably that would incentivise buyers to delay their purchases? (Which I doubt the govt would want)

Space_Cat

I’m in the same boat and timescale as yourself. I don’t know if completion date can be changed post exchange if both parties agree? I’d offer the seller a cash incentive to move date if truss abolishes SD.

No one likes paying SD but if done away all it will achieve is pushing prices higher.

julicorn

I remember back when they got rid of stamp duty for first time buyers, it was with immediate effect.

(We were 6 months into our purchase, and about a week away from exchange at that point, so I'm starting to think something like this always happens when we're trying to buy )

mojo293

Well, I'm truly in the 'waiting to exchange' camp now.

Have just sent an email to chase my solicitor asking if they have an exchange date set, as the completion date was agreed for 27th September, last week. I went to solicitors on Friday gone and signed the contracts and land transfer forms, so hopefully exchange should happen by then end of this week, ahead of next Tuesday. 

Started notifying utilities yesterday, and have removals booked now, so hoping nothing changes for next Tuesday at least.

alibean121

I'm a FTB and am not paying any stamp duty. If my upper chain get ideas into their heads to delay, I'm going to flip my lid. I'll totally blame my solicitors for not being ready to exchange last Friday when everyone else wanted to.

trakky14

PixelPatch said:

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.

Oh my god....I feel so sorry for you! What a nightmare!!

trakky14

scroogemcduck2 said:

https://twitter.com/hendopolis/status/1572337547870900227?t=F5DDDCW-B72aCFeiV-jQjA&s=19

Does anyone know from previous experience how quickly stamp duty changes are implemented when they're announced? We are due to exchange this week and complete next. If changes aren't immediate presumably that would incentivise buyers to delay their purchases? (Which I doubt the govt would want)

We are in the same position...although exchanging this week is looking less and less likley!! 

If it is with immediate effect from Friday (when they are apparently going to announce it) I suspect everyone will want to delay till after then! 

mojo293

Solicitor has just asked me to arrange Buildings Insurance for the new house, to begin immediately. Looks like exchange is imminent.