The NEW waiting to exchange thread...

mrsmagpie80

aggimartz1 said:

I am one enquiry away from arranging exchange. As a naturally anxious person this has been one of the most stressful few months ever. My timeline so far:

Offer accepted 4th July
Mortgage submitted 6th July
Chose solicitor through estate agent on 6th July
Searches instructed w/c 11th July
Mortgage offer 28th July 
Searches received and enquiries sent to seller sols 11th August
Since then we have been stuck on enquiries and have one left that could majorly impact the sale (to do with the rent charge with mgmt company) 

Pulling hair out as tenancy ends in a month and using 5% deposit means this is our only shot for a while!

Will keep you informed

I’m in a similar position. Selling only, investment property. Have been waiting on enquiries for weeks. They finally came back with one more further enquiry this morning which I managed to answer straight away so I’m crossing everything that we are now ready to exchange. I’m also finding the whole situation massively anxiety inducing. I’m in a sticky financial situation and need this sale to go through as my mortgage term on my family home is about to be up and i need to pay off debts ready to look for a new deal. I’m absolutely bricking it as I’ve sold the property twice this year and it fell through before exchange. Hoping for 3rd time lucky!! 

dstrevens

Been reading everyone's message on here and it's really helped, the selling and purchasing process in this country is so broken but no one will fix it as everyone's making too much money. We are close but it seems so far away, hopefully we should get a date next week.

Our timeline:-

25th April - House up for sale
6th May - House open day

13th May - Offer accepted on our property

8th June - Discovered that our buyer's property was back on the market as she lost her buyer but didn't tell us

8th July - Offer accepted on our property by same buyer, £2K less offer

13th July - Offer accepted on the property we are buying

20th July - Mortgage application

28th July - Mortgage offer received 

9th August - Home buyers survey received 

11th August - Searches applied for
2nd Sept - Wall Tie survey completed

9th Sept - Searches complete

21st Sept - Electrical Survey completed

28th Sept - Answered buyers Solicitors enquiries 

6th Oct - Drain Survey completed

10th Oct - Offer reduced on the property we are buying - Due to additional work identified in surveys (Full rewire, drain issues)

12th Oct - Lower offer accepted

13th Oct - Amendment to mortgage submitted

14th Oct - New mortgage offer received

18th Oct - Hassled our solicitor as we've still not had a response on the most simple queries with our seller, was told they would be reviewed today with the outcome being a discussion on dates

Good luck to everyone else!

RM_2013

dstrevens said:

Been reading everyone's message on here and it's really helped, the selling and purchasing process in this country is so broken but no one will fix it as everyone's making too much money. We are close but it seems so far away, hopefully we should get a date next week.

Our timeline:-

25th April - House up for sale
6th May - House open day

13th May - Offer accepted on our property

8th June - Discovered that our buyer's property was back on the market as she lost her buyer but didn't tell us

8th July - Offer accepted on our property by same buyer, £2K less offer

13th July - Offer accepted on the property we are buying

20th July - Mortgage application

28th July - Mortgage offer received 

9th August - Home buyers survey received 

11th August - Searches applied for
2nd Sept - Wall Tie survey completed

9th Sept - Searches complete

21st Sept - Electrical Survey completed

28th Sept - Answered buyers Solicitors enquiries 

6th Oct - Drain Survey completed

10th Oct - Offer reduced on the property we are buying - Due to additional work identified in surveys (Full rewire, drain issues)

12th Oct - Lower offer accepted

13th Oct - Amendment to mortgage submitted

14th Oct - New mortgage offer received

18th Oct - Hassled our solicitor as we've still not had a response on the most simple queries with our seller, was told they would be reviewed today with the outcome being a discussion on dates

Good luck to everyone else!

Hope you hear something soon.  We are at the enquiries stage so hopefully the end is in sight! 

aggimartz1

mrsmagpie80 

Having issues quoting your message.

It's horrible isn't it. The whole process is broken and completely anxiety inducing. It is driving me insane and quite frankly, making me unwell now. 

I fear I have picked the wrong conveyancer, I stupidly decided to go with the estate agents recommendation (the seller did too). Everything taking forever, even just to reply to an email. They don't answer the phone when you call. Have a 5 day SLA to review documents, so makes things take so long. Feel huge regret going with this company currently. But then I hear everyone else seems to have issues with conveyancing - why is the process allowed to be this bad?

Good luck with your 3rd purchase. Why did the first 2 fall through you don't mind me asking?

mrsmagpie80

aggimartz1 said:

mrsmagpie80 

Having issues quoting your message.

It's horrible isn't it. The whole process is broken and completely anxiety inducing. It is driving me insane and quite frankly, making me unwell now. 

I fear I have picked the wrong conveyancer, I stupidly decided to go with the estate agents recommendation (the seller did too). Everything taking forever, even just to reply to an email. They don't answer the phone when you call. Have a 5 day SLA to review documents, so makes things take so long. Feel huge regret going with this company currently. But then I hear everyone else seems to have issues with conveyancing - why is the process allowed to be this bad?

Good luck with your 3rd purchase. Why did the first 2 fall through you don't mind me asking?

My solicitor is really good, I’ve used her on all 5 of my previous sales and purchases and she’s amazing, replies within an hour of me emailing her and often within 10 mins. The buyers solicitor is like a sloth and ironically the buyers chose him as it is the local solicitor in the village im selling the house. They thought that would be quicker 🤦‍♀️ he’s awful truly. 

The house I’m selling is in a coastal town in the south and it’s ideal for a holiday let/second home. It fell through the first time as the couple buying for investment realised they couldn’t actually afford the mortgage 🤦‍♀️ the second time it got to nearly exchange when the couple buying saw something they liked better 🙄 im crossing everything that it goes through this time as I don’t think I’ve had a proper nights sleep since April! Fingers crossed for you too. 

ambles

ambles said:

Hi all, FTB here

25/08/2022 - Offer accepted
30/08/2022 - Mortgage application submitted
05/09/2022 - Mortgage offer received
07/09/2022 - Memorandum of sale received from EA, solicitor instructed
15/09/2022 - Home buyers survey completed
23/09/2022 - Home buyers survey report received, all fine
26/09/2022 - Local searches back, all fine
30/09/2022 - Met the solicitor to go through the searches, pre-signed the contract and land registry. She was checking through her emails and noticed that she'd not heard back from the sellers solicitor about the enquiries since 03/09/2022.

So it's all ready on my end more or less, just waiting to hear back from the seller's solicitor.

Just had a call from the EA, they had an email from the seller saying pulling out of the sale because his work that needed him to move has been cancelled. They're trying to call him but can't get through.
Should've had an inkling last week when my solicitor was chasing for enquiries that hadn't been answered since 30th September.
So unbelievably upset and disappointed.

trakky14

ambles said:

ambles said:

Hi all, FTB here

25/08/2022 - Offer accepted
30/08/2022 - Mortgage application submitted
05/09/2022 - Mortgage offer received
07/09/2022 - Memorandum of sale received from EA, solicitor instructed
15/09/2022 - Home buyers survey completed
23/09/2022 - Home buyers survey report received, all fine
26/09/2022 - Local searches back, all fine
30/09/2022 - Met the solicitor to go through the searches, pre-signed the contract and land registry. She was checking through her emails and noticed that she'd not heard back from the sellers solicitor about the enquiries since 03/09/2022.

So it's all ready on my end more or less, just waiting to hear back from the seller's solicitor.

Just had a call from the EA, they had an email from the seller saying pulling out of the sale because his work that needed him to move has been cancelled. They're trying to call him but can't get through.
Should've had an inkling last week when my solicitor was chasing for enquiries that hadn't been answered since 30th September.
So unbelievably upset and disappointed.

Oh no, that's so annoying! I hope you find another property soon!

mrsmagpie80

Update. Solicitor has just emailed me to say the buyer is happy to proceed and set a completion date of 31st October. Nail biting time now as I wait for them to say they have exchanged. He needs to drop the signed paperwork off at the solicitors apparently. Fingers crossed I’m nearly there! 🤞🤞

RM_2013

mrsmagpie80 said:

Update. Solicitor has just emailed me to say the buyer is happy to proceed and set a completion date of 31st October. Nail biting time now as I wait for them to say they have exchanged. He needs to drop the signed paperwork off at the solicitors apparently. Fingers crossed I’m nearly there! 🤞🤞

Great news fingers crossed for you 

1616six

Every time things go quiet I get paranoid! 

Spoke to the solicitor 7 days ago to confirm we had no enquiries ourselves, so she’s sent her own enquires back. 

There wasn’t anything major, just requesting this years boiler service, confirming that the sellers partner who lives there will be signing the contract and asking the nature of a 2019 noise complaint.

Hopefully we’ll hear soon, am I right in thinking once her enquiries are satisfied we’re then on to agreeing an exchange date?