The NEW waiting to exchange thread...

dfwprincess

PixelPatch said:

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

Good luck! 

We’re hoping to do the same, but it all depends on if the vendor gets something in the post today for him to sign and hand deliver…. It’s ridiculous 🙃

dfwprincess

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.

Good luck, glad you found somewhere else hope this one goes better for you 

PixelPatch

dfwprincess said:

PixelPatch said:

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

Good luck! 

We’re hoping to do the same, but it all depends on if the vendor gets something in the post today for him to sign and hand deliver…. It’s ridiculous 🙃

Good luck to you too! Hopefully neither of us have to endure both in the same day... 🙃🙄

HWBY

trakky14 said:

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! 

Oh dear, good luck!

Adam16

Adam16 said:

Our story so far:

04/04/22 - offer accepted
22/04/22 - mortgage offer
04/05/22 - draft contract 
27/05/22 - Searches complete
30/05/22 - Enquiries raised
09/06/22 - Seller offer accepted onwards purchase
21/06/22 - Enquiries chased
10/08/22 - Enquiries chased again
12/08/22 - Enquiries received
15/08/22 - Enquiries reviewed, some still outstanding
31/08/22 - Enquiries fully answered
07/09/22 - Contract signed


Today we heard from our vendor - they’re still awaiting enquiries for their onwards purchase that were apparently due back earlier in the week. Their solicitor is terrible at communicating, needs constant chasing. 

Not sure what other pressure can be applied. Probably just a waiting game now.  

Still waiting for the top of the chain to answer enquiries to our vendor. Apparently the second round of enquiries, raised 4 weeks ago now, and all basic things - so no idea what the hold up is. 

Mortgage offer about to expire, and the rates have doubled. 

Said to the EA today that if we don’t have a clear answer by next Friday on exchange, and we miss our mortgage expiry date, then we’ll be reducing our offer. 

If we’re taking a financial hit by people delaying things further up the chain, then they can share some of the pain. I have sympathy for our vendor, I really do, but I don’t see any reason in an evolving economic market why we should share the full burden. Interest rates have risen, and if they miss the boat on our mortgage offer date then the house price changes to reflect the new rates. 

mojo293

Word from my solicitor is she's still chasing all other parties today (to see if they are ready to exchange). Just hoping its done by close of play tomorrow, so I can relax over the weekend and finish packing/sorting/clearing out ahead of Tuesday!

secla

Got phone call for consent to exchange today, not had any confirmation if we’ve actually exchanged though.
hopefully they will let us know by end of play as we need to hand notice in for rental by tomorrow or we will End up paying a whole extra month we don’t need 

TTM

We’re on our third attempt to exchange today, which is once again being thwarted by at least two of the chain’s solicitors not answering the phone. 

Who came up with this antiquated, ridiculous system?  Who does it benefit?

and breathe…

secla

Finally exchanged 🥳

TTM

Congratulations

And after my rant a post above, us now too!  So glad that’s over.