The NEW waiting to exchange thread...

fackers_2

Offer Accepted: 26th August
Original Simultaneous EXC & COMP date: 30th Sept
LTT update announcement: 27th Sept
Exchanged: 29th September - Today
Completion: 10th October

There is no chain. Just one property involved hence the speed.

Quite the relief since the buyer pushed it back last minute in order to take advantage of the LTT update. Which is under £2k. This also means I'm now outside of my mortgage term and paying daily the current rate of 6.5% which they refused to cover. Albeit, I'm relived that exchange is done as it gives some security given the turmoil with mortgage products being pulled. 

trakky14

fackers_2 said:

Offer Accepted: 26th August
Original Simultaneous EXC & COMP date: 30th Sept
LTT update announcement: 27th Sept
Exchanged: 29th September - Today
Completion: 10th September

There is no chain. Just one property involved hence the speed.

Quite the relief since the buyer pushed it back last minute in order to take advantage of the LTT update. Which is under £2k. This also means I'm now outside of my mortgage term and paying daily the current rate of 6.5% which they refused to cover. Albeit, I'm relived that exchange is done as it gives some security given the turmoil with mortgage products being pulled. 

Wow that is fast! Lucky you! 

fackers_2

trakky14 said:

fackers_2 said:

Offer Accepted: 26th August
Original Simultaneous EXC & COMP date: 30th Sept
LTT update announcement: 27th Sept
Exchanged: 29th September - Today
Completion: 10th September

There is no chain. Just one property involved hence the speed.

Quite the relief since the buyer pushed it back last minute in order to take advantage of the LTT update. Which is under £2k. This also means I'm now outside of my mortgage term and paying daily the current rate of 6.5% which they refused to cover. Albeit, I'm relived that exchange is done as it gives some security given the turmoil with mortgage products being pulled. 

Wow that is fast! Lucky you! 

Conditions of the sale was for it to have no delays. I could move out asap and they were renting. It's also a highly desirable spot too! 

Thank you

TheBlueVoice

TheBlueVoice said:

Hi!

Not done this house buying/selling thing in 20+ years and what a time to start, eek!

Journey so far:

08/09/22	Saw a house listed and viewed it that evening
09/09/22	Made offer first thing
12/09/22	Purchase Offer accepted!
12/09/22	Viewings
13/09/22	More viewings
14/09/22	Accepted an offer on my house
15/09/22	Solicitors instructed
15/09/22	Mortgage application made
16/09/22	Memorandum of sale email for purchase house received
16/09/22	Confirmation email sale of my house received
16/09/22	Solicitor documents received
19/09/22	Mortgage offer received
20/09/22	Surveyor instructed
20/09/22	Documents returned to solicitor
21/09/22	Surveyor confirmed for 28/09/22

Survey due today, hopefully 3 working day processing. Hope there's no bad news in it!

Had the survey back, lots of worrying stuff.
I've been a naive and hadn't considered the age of the house (1960s).
Survey said roof felt perishing (so new roof very soon as no point reusing 60yr old tiles), wall ties may be corroding so investigation recommended (as most likely built with galvanised wall ties back then), chimney stacks need repointing/mortar/flashings, ceilings some with artex may contain asbestos, electrics should be checked as 60 years old (deffo new rcd consumer unit), original bitumen damp course may start to go as 60 years old, cavity wall insulation needs to be checked to make sure its not foam type. Drains check etc

Guess I'll see if vendor would be willing to move on price and if so get estimates for required works.
They may not though as house is in an area where multiple offers are received over asking and usually sold in a few days..

If they aren't willing to move on price then no point paying for wall ties survey, electrics survey, drains survey, ceilings estimate etc.

Very sad as been waiting 18months for a house to come up in this area..

BSW89

We've finally had an update on ours - our buyer's lender's solicitor doesn't like that our ground rent increases by £100 every 25 years. I'd heard about onerous ground rent clauses causing trouble but didn't think +£100 every 25 years was a big deal. We now need to wait and see what our freeholder will charge for a deed of variation and how long it'll take. Does anyone have a ballpark figure for this kind of thing??

There is now also confusion about when our buyer's mortgage offer expires - it may not be 11th October as we'd previously been informed... crossing my fingers for some good news on this front.

NeverAgain1233

NeverAgain1233 said:

I cant believe a thread like this exists! this is amazing! I have found somewhere where I can ......arnt about our sh*tty situation.

Waiting to exchange on a house we offered on in may. Everything is done apart from ....... probate. The same probate we were told that was granted BEFORE we offered on the house. I asked the agent multiple times before we offered if probate was granted. Yes we were told.

Who knows what's going to happen now, our buyers mortgage offer ends in November (FTB - Offered on our house end of April). If we aren't done by then, this all falls through as they wont be able to afford the new interest rates.

FML. Anyone else been lied to about probate before offering on a property? How is this even allowed?

The whole house buying and selling transaction process needs a massive overhaul.

So we have been told this morning that the probate solicitor spoke to the probate office this morning and was told the case has been marked as urgent. They still couldn't give a timeframe though so still not sure if this will get done. is anyone else also waiting for probate? 

trakky14

We are about to head into week 4 of "about to exchange contracts"...honestly this is the worst experience we've ever had. Still waiting for our buyers lender's solicitor to give the green light after they asked for more info 4 weeks ago...you couldn't make this up. We should have moved 3 weeks ago....nobody can tell us anything other than "the lender is satisfied with replies and we wait their authorisation to proceed"....

housebuyer143

Good luck to everyone on the journey. Completed today and it makes the stress almost all worth it 😂

RM_2013

Good luck to everyone waiting.  Seems so many delays with probate and conveyencing processes.

We are still in limbo.  Vendor has told EA verbally that she will move into rented to avoid sale falling through but I don’t know whether he’s just saying this to keep us going.
we’ve booked a viewing on another property for next weekend as a back up plan (sounds like this vendor has had an offer accepted on an empty place) and keen to move asap.  However I don’t like this property as much.  It’s the same price as one we have offered on.  Bigger downstairs layout and bigger garden and driveway but 1 less bedroom and smaller 3rd bedroom.  Plus only a downstairs toilet and no en suite. 

They have got approved plans for an extension for a 4th bedroom and en suite but cost of this would be £££

Domaco16

trakky14 said:

We are about to head into week 4 of "about to exchange contracts"...honestly this is the worst experience we've ever had. Still waiting for our buyers lender's solicitor to give the green light after they asked for more info 4 weeks ago...you couldn't make this up. We should have moved 3 weeks ago....nobody can tell us anything other than "the lender is satisfied with replies and we wait their authorisation to proceed"....

We were 4 weeks into ‘this week we will talk about dates’ then blow one - they ‘forgot’ to do a local search so that was another 3 week wait- THEN that came back and they went away for 2 weeks!!! We were livid! X (the most annoying being they were buying to let so not even moving in!)