The NEW waiting to exchange thread...

RM_2013

We are still at the enquiries stage and I’m really uncertain what next steps are.  Not a FTB but we’ve lived in our current house for almost 20 years and I don’t remember it being half as stressful as this is.  In fact I found some paperwork recently from our last sale and even though we were in a long chain it took only 2 months from offer to completion.
I’ve chased solicitors today to ask for an update on whether enquiries are satisfied and to ask what our next steps are.  Totally fed up with it all now 

HWBY

RM_2013 said:

@HWBY
That sounds very stressful.  I literally hate this process.  

What's the most infuriating is that it doesn't have to be this stressful. It really doesn't. I'm not sure who's making money out of the process being so convoluted, but clearly someone is else it'd change.

Panda126

what is the average waiting time between answered enquiries and exchange of contracts? Our solicitor answered enquiries last week but we haven't heard anything about exchange of contracts yet

badger09

Panda126 said:

what is the average waiting time between answered enquiries and exchange of contracts? Our solicitor answered enquiries last week but we haven't heard anything about exchange of contracts yet

There isn’t an average time as there are so many variables. Is your buyer FTB? If not, & they have something to sell, then it will depend on what stage their sale has reached. 

It also depends on the speed of all the solicitors in the chain. Your EA is probably the best person to check where all in your chain are up to. 

Sesmo_k

So last week (Thursday) all parties conveyancers (us, OH's buyer and our seller) agreed to completion on 3rd Nov- this Thursday. We still haven't exchanged. Apparently we're waiting for the release of funds for both our buyer and us. Think the lenders may be taking their sweet time over it. I just want this nightmare to be over with.

ETA: I did think the timelines were tight, but was told it was all in hand.

RM_2013

@Panda126 we are at the enquiries stage so I’ve wondered this too but seems to vary.  Some say enquiries come back straight away and some seem to take months 

RM_2013

Another day of zero news about our purchase or sale.  Feeling pretty annoyed as the solicitor dealing with our purchase was supposed to be reporting on our mortgage offer and sending deed paperwork to us on Friday - I chased when this didn’t happen and was told it would be this morning.  Guess what - still no contact 

no news on our sale since we answered the last set of enquiries - I’ve chased today asking if they are all satisfied and what is left to do but no reply as yet.

dannim12345

I think a lot of enquires really depend what they are, if it’s are you leaving X or how much is the permit parking it’s a quick answer but (as some of ours) are to do with the deed, providing indemnity insurance, rent charge and works done to the property before they owned it it seems to take forever!  

md64

Hi All, thought I would join as we are waiting to exchange! I like most of you am becoming very impatient! We are FTB purchasing a new build and well over the 28days. We reserved in July and hopefully will have the paperwork to sign for exchange this week. Solicitor has been good just had delays with document requests ect. 

We are hoping to complete end of Jan to early Feb. Our mortgage offer exspires 23rd Feb and the build is delayed around 6 weeks already, should be water tight now yet we are awaiting the rod tiles to go on. Hopefully they will push on once exchange has happened. 

Any advice on what to ask/ look out for welcome 

Camboudica

We're at the enquiry stage, our conveyancer has raised her queries to the sellers side and is waiting for a response. I think we might be waiting for the last search to come back too, not sure, will check tomorrow. 

In the mean time we went for a second viewing of the property as its now empty, it's an ex rental being sold after 25 years and it turns out it needs a lot more work than we initially realised, strategically placed furniture/rugs and radiator covers, all now gone, have shown rusting radiators, holes in walls, filthy carpets etc. Plus the survey has turned up a load of repair work, some of it urgent and not stuff we can defer, so it looks like we're in for a round of getting quotes and seeing if we can negotiate on price. 

We were prepared for the obvious stuff like redecoration and modernisation and factored that in to our offer, but not having to replace guttering, issues with the chimney /roof, replacing doors, no proper loft insulation, even the patio is apparently above the damp course and needs lowering. Just our luck. I think we may be a lot further away from exchange than we first thought.