The NEW waiting to exchange thread...

davedjc

Our Journey so far.  Not first timer buyers but classed as such as we have rented for past 7 years for various reasons.  Been a long slog so far with the major issue of the house not been registered with the land registry/deeds been lost, but seems light at end of the tunnel now - current landlord thrown spanner in works with deciding to sell our current rental argg.

• 11/05/2022         DIP received via broker - search started
• 23/05/2022         Property viewed and bid made - offer accepted
• 24/05/2022         Full Mortgage application submitted
• 13/06/2022         Survey completed - no major issues
• 14/06/2022         Solicitor makes us aware property not registered and have asked seller to do so. No searches can be       done yet as no title plans etc.
• 16/06/2022         Mortgage approval received
• 27/06/2022         Confirmation from sellers solicitor that 10 day 'express' application to register property has been made
• 07/09/2022         Landlord of current rental served us section 21, stating have to be out by 12th November
• 08/09/2022         Application complete - house now registered
• 09/09/2022         Searches ordered / Initial Enquires raised
• 03/10/2022         Searches returned
• 14/10/2022         Spoken with EA who said all enquires have been replied to now, awaiting Solicitor to confirm monday.

Hopefully the end is in sight now - will keep updated.

1616six

RM_2013 said:

i don’t want to tempt fate by packing or buying anything for the new house yet

We’re very much the same. Packed 2 boxes this evening just to try and make a start! Listed a few bits on FB marketplace over the weekend and our kitchen pine dresser sold straight away so things are looking a bit bare already.. that makes me worry even more now if things go wrong! 

We’ve kind of accepted that if this purchase falls through, that’s us out of buying a house until rates come back down as it just wouldn’t be viable for us to purchase if our mortgage offer expires.

RyanPugh

RyanPugh said:

RyanPugh said:

Deposit balance sent, and contract signed today! Just waiting for exchange this week, and then to agree a date (hopefully sometime w/c 24th!)
Excited doesn’t quite cut it!

Solicitor has requested our mortgage advance for next Friday, both us and seller are happy to complete next Friday - due to exchange this Friday when our solicitor is back from annual leave.

Last Friday didn’t happen.. but we’ve exchanged today!! Completion set for Friday🎉

trakky14

RyanPugh said:

RyanPugh said:

RyanPugh said:

Deposit balance sent, and contract signed today! Just waiting for exchange this week, and then to agree a date (hopefully sometime w/c 24th!)
Excited doesn’t quite cut it!

Solicitor has requested our mortgage advance for next Friday, both us and seller are happy to complete next Friday - due to exchange this Friday when our solicitor is back from annual leave.

Last Friday didn’t happen.. but we’ve exchanged today!! Completion set for Friday🎉

That's fantastic congrats!!

Grf4ul3

Urgh. I was meant to exchange on Friday - chain free transaction involving just me and my buyer; both our solicitors were ready, and both of us gave verbal authority. But then radio silence from the buyer's solicitor until 5pm when they said it would have to wait until Monday.

Then this morning the buyer's solicitor says they are ready again, both the buyer and I gave our verbal authority once again, but my solicitor hasn't been able to reach the buyers' solicitor for 3 hours now to actually exchange contracts..... I am sure they are just busy but the waiting is unbearable, I couldn't take this being pushed another day!

RM_2013

1616six said:

RM_2013 said:

i don’t want to tempt fate by packing or buying anything for the new house yet

We’re very much the same. Packed 2 boxes this evening just to try and make a start! Listed a few bits on FB marketplace over the weekend and our kitchen pine dresser sold straight away so things are looking a bit bare already.. that makes me worry even more now if things go wrong! 

We’ve kind of accepted that if this purchase falls through, that’s us out of buying a house until rates come back down as it just wouldn’t be viable for us to purchase if our mortgage offer expires.

Maybe I will start some packing soon!!  We are the same if the purchase falls through.  Our offer is until 1st mar

RM_2013

@trakky14 glad to hear you’ve exchanged 

Grf4ul3

Grf4ul3 said:

Urgh. I was meant to exchange on Friday - chain free transaction involving just me and my buyer; both our solicitors were ready, and both of us gave verbal authority. But then radio silence from the buyer's solicitor until 5pm when they said it would have to wait until Monday.

Then this morning the buyer's solicitor says they are ready again, both the buyer and I gave our verbal authority once again, but my solicitor hasn't been able to reach the buyers' solicitor for 3 hours now to actually exchange contracts..... I am sure they are just busy but the waiting is unbearable, I couldn't take this being pushed another day!

Just been informed by my solicitor, that the buyer's solicitor is awaiting confirmation from the lender that they will be happy to release funds for completion in seven days.... and they can't exchange until that happens, so more waiting it seems.

mrsmagpie80

Joining this thread after reading through lots of it! 

My story - selling only a property that I’ve rented out for 15 years. The pandemic has left me in a difficult financial situation and I decided to sell after my tenant moved out and the agent telling me I would need to invest a substantial amount to get it up to standard to re let.
property went on the market in may and sold the first day, it fell through within 3 weeks and re sold. This fell through again when the buyers found something else they liked better 🙄 
finally sold on the 3rd of August to a cash buyer. Fingers crossed this time it goes through. 

As seems to be a common theme solicitors seem to be holding it up. Mine is amazing she has handled all 5 of my previous purchases/sales in the last 20 years.
theirs however is as slow as a flipping sloth. 

They took an age to send enquiries, these i answered the same day 2 weeks ago but despite my solicitor and the agent chasing they have yet to acknowledge they have the replies or let us know if there are any further enquiries. It’s so frustrating when it feels like there is no need for this waiting? No chain, no mortgage! My own mortgage term is coming to the end and I need to get my finances sorted before arranging a new deal. 

It’s been reassuring reading this thread! 

Ksw3

5 weeks until our mortgage offer expires. Hopefully finally enquiries have been answered but waiting for the file to be reviewed. No idea if we will make it. I'm really hoping the last bit is really quick.