The NEW waiting to exchange thread...

PixelPatch

trakky14 said:

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!!

As of now, we still have not exchanged.

Today, the release has been stuck at the top of the chain. This release expires in an hour and still nothing.

So sick of this now. If we don't exchange today we're looking at exchange the day before completion, and then if it gets stuck yet again! Then on the same day and I just can't think about this.

dfwprincess

Oh no, we spoke to our solicitor earlier about 11am and we’ve not heard anything since.she’d spoke to our sellers solicitor after ringing them and finally getting an answer, and they agreed to exchange today if they can get hold of the seller, we’ve given consent so we’re hoping that the sellers solicitor got hold off him else we too will be the day before completion and have to start it all again! 

Our broker has also gone radio silence on us and we’re getting our insurance through them so that’s rather worrying like we could need this asap !

the lack of communication is awful  

PixelPatch

We aren't exchanging today either. It got to the top of the chain, sat there for hours only for them to realise they were missing a signature on the transfer deed! They confirmed many times they were ready and they had so many days to sort this after the first error. You would have thought after the first error the others would have thought to double check they had everything!

dfwprincess

PixelPatch said:

We aren't exchanging today either. It got to the top of the chain, sat there for hours only for them to realise they were missing a signature on the transfer deed! They confirmed many times they were ready and they had so many days to sort this after the first error. You would have thought after the first error the others would have thought to double check they had everything!

We’ve just had the same thing, except our isn’t a chain. And we only found out as our solicitor got on to the estate agent as the vendors solicitor was ignoring ours, and the estate agent got hold of the vendor who said they was waiting on a form to sign 🙃 

I want to cry! Theyre hopefully getting one tomorrow to hand deliver so we can go again tomorrow before completing Friday but I can’t see it happening. 

This isn’t the first time their solicitor has caused a delay as they’ve missed something, the last delay was two weeks and we’re meant to be going away next week for two weeks and I can’t see that happening now or it’ll be cut short. (U.K. with friends so easy ish to move/change) but suuuuuper frustrating! Why agree dates and keep gearing up for it and be like yes we can exchange when clearly they can’t! 

julicorn

julicorn said:

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. 

It's twists and turns here! I spoke to our mortgage advisor to get a new application going, and he mentioned (as an aside) that Nationwide have now changed their terms and offer a 14 day grace period as standard, so we could be completing by mid October on the lower rate. That would save us over £25k over 5 years compared to our new rate. 
So I called up the estate agent to attempt to throw money at the problem, asking what figure our seller would need us to pay in order to break the chain, move into a rental and complete by then. 
Haven't heard back. It's a long shot, but any and all shots are worth taking at this point. 

HWBY

I've posted in here a few times about our drama with being six and a half months in since having our offer accepted and still not even an exchange date. Three-person chain, the estate agents that vanished, our vendors' solicitor leaving the firm and no one realising for months, our mortgage offer due to expire...

We had an offer accepted somewhere else today. No chain and no probate. £45k cheaper, but about a third of the size bigger, much nicer garden, has a garage, and close to my wife's work. Gutted at the money and time wasted (about £3k down the drain), but we're trying our best to move on.

Perhaps overly spiteful, but we're not going to say we've found somewhere else until we absolutely have to. We've been messed around and lied to so much throughout this transaction that I have nothing but ill-feeling towards our previous vendors. Even if this new property doesn't work out, pulling out of the first one feels like the right choice. These past few months have made me physically ill with stress, to be honest I'm glad that there's an end, even if it's not the end we were hoping for back in March when we offered.

trakky14

HWBY said:

I've posted in here a few times about our drama with being six and a half months in since having our offer accepted and still not even an exchange date. Three-person chain, the estate agents that vanished, our vendors' solicitor leaving the firm and no one realising for months, our mortgage offer due to expire...

We had an offer accepted somewhere else today. No chain and no probate. £45k cheaper, but about a third of the size bigger, much nicer garden, has a garage, and close to my wife's work. Gutted at the money and time wasted (about £3k down the drain), but we're trying our best to move on.

Perhaps overly spiteful, but we're not going to say we've found somewhere else until we absolutely have to. We've been messed around and lied to so much throughout this transaction that I have nothing but ill-feeling towards our previous vendors. Even if this new property doesn't work out, pulling out of the first one feels like the right choice. These past few months have made me physically ill with stress, to be honest I'm glad that there's an end, even if it's not the end we were hoping for back in March when we offered.

Glad you've sorted it, I think your solicitors will be forced to tell the vendors solicitors when they start working on the new purchase, so they will know soon. I hope you have better luck with the new house!

HWBY

trakky14 said:

HWBY said:

I've posted in here a few times about our drama with being six and a half months in since having our offer accepted and still not even an exchange date. Three-person chain, the estate agents that vanished, our vendors' solicitor leaving the firm and no one realising for months, our mortgage offer due to expire...

We had an offer accepted somewhere else today. No chain and no probate. £45k cheaper, but about a third of the size bigger, much nicer garden, has a garage, and close to my wife's work. Gutted at the money and time wasted (about £3k down the drain), but we're trying our best to move on.

Perhaps overly spiteful, but we're not going to say we've found somewhere else until we absolutely have to. We've been messed around and lied to so much throughout this transaction that I have nothing but ill-feeling towards our previous vendors. Even if this new property doesn't work out, pulling out of the first one feels like the right choice. These past few months have made me physically ill with stress, to be honest I'm glad that there's an end, even if it's not the end we were hoping for back in March when we offered.

Glad you've sorted it, I think your solicitors will be forced to tell the vendors solicitors when they start working on the new purchase, so they will know soon. I hope you have better luck with the new house!

Hah, we're not going to use the same solicitors! While a lot of the problems haven't been their fault, there have also been issues where they've "forgotten" about outstanding enquiries, and we're currently going through the complaint process about being misled as to the nature of a problem with the vendors. Not to mention rude to boot!

Thanks for the well wishes. We like this house much better, so fingers crossed it works out.

PixelPatch

Attempt number 4 to exchange today... we're supposed to be completing tomorrow. This shouldn't be such a complicated process.

trakky14

HWBY said:

trakky14 said:

HWBY said:

I've posted in here a few times about our drama with being six and a half months in since having our offer accepted and still not even an exchange date. Three-person chain, the estate agents that vanished, our vendors' solicitor leaving the firm and no one realising for months, our mortgage offer due to expire...

We had an offer accepted somewhere else today. No chain and no probate. £45k cheaper, but about a third of the size bigger, much nicer garden, has a garage, and close to my wife's work. Gutted at the money and time wasted (about £3k down the drain), but we're trying our best to move on.

Perhaps overly spiteful, but we're not going to say we've found somewhere else until we absolutely have to. We've been messed around and lied to so much throughout this transaction that I have nothing but ill-feeling towards our previous vendors. Even if this new property doesn't work out, pulling out of the first one feels like the right choice. These past few months have made me physically ill with stress, to be honest I'm glad that there's an end, even if it's not the end we were hoping for back in March when we offered.

Glad you've sorted it, I think your solicitors will be forced to tell the vendors solicitors when they start working on the new purchase, so they will know soon. I hope you have better luck with the new house!

Hah, we're not going to use the same solicitors! While a lot of the problems haven't been their fault, there have also been issues where they've "forgotten" about outstanding enquiries, and we're currently going through the complaint process about being misled as to the nature of a problem with the vendors. Not to mention rude to boot!

Thanks for the well wishes. We like this house much better, so fingers crossed it works out.

Sounds like a good plan!! Don't worry about the lost money...looks like you might be saving some stamp duty money now if the government are going to cut it tomorrow...so the delay isn't the end of the world! 

I'm still stuck in limbo waiting for buyers lenders solicitors to approve our responses to enquiries and give us the green light to exchange...3 weeks now we've been waiting!