The NEW waiting to exchange thread...

Bubblebutt9

This is my first post on this thread and hoping we are near completion now. I’m just wondering at what point do you receive contracts to sign? 

22 August - accept an offer in our house and offered accepted in the house we’re buying. 

11 Sept - our mortgage offer received
21 Sept - our searches back 
30 Sept - our buyers mortgage offer received
10 Oct - buyers searches back 
13 Oct - my solicitor advised there was an unregistered leasehold (beneficiary was same person selling the house) that needed to be distinguished and this was don’t fairly quickly. But have since been advised that they forgot to include the rights of way over the shared drive on the freehold which is now being sorted out. 

Ours buyers have asked for an electrical check which we have done and a boiler service which we have also done and I think that is their enquiries complete. 

Really hope we can be in before Christmas 

badger09

Bubblebutt9 said:

This is my first post on this thread and hoping we are near completion now. I’m just wondering at what point do you receive contracts to sign? 

22 August - accept an offer in our house and offered accepted in the house we’re buying. 

11 Sept - our mortgage offer received
21 Sept - our searches back 
30 Sept - our buyers mortgage offer received
10 Oct - buyers searches back 
13 Oct - my solicitor advised there was an unregistered leasehold (beneficiary was same person selling the house) that needed to be distinguished and this was don’t fairly quickly. But have since been advised that they forgot to include the rights of way over the shared drive on the freehold which is now being sorted out. 

Ours buyers have asked for an electrical check which we have done and a boiler service which we have also done and I think that is their enquiries complete. 

Really hope we can be in before Christmas 

That sounds pretty quick so far. What’s the position with your chain? Are your buyers FTBs? Is your vendor the top of the chain? Obviously both could impact on your hope to be in before Christmas. 

Re the contract, as with everything else, different conveyancers have different approaches. Ours sent us contract for purchase with her ‘final report’ ie once she was fairly sure all enquiries were sorted. 

IIRC that was still about 4 weeks before exchange. We’d broken chain so as not to lose our sale & our new vendor was constantly pressing us to exchange. Ironically it was the vendor above him who caused final delay due to problem with their Equity release😏

Bubblebutt9

Thanks so much! Our buyer is a FTB and the house we are buying our house from an elderly lady who is now in a care home. So the house is empty. 

So far (fingers crossed) everything seems to be going quite well except the rights over the driveway however I think we’re near to a resolution on that. 

I have to try really hard to be patient!! 

donutandbeer

donutandbeer said:

A new week indeed.
 
Not sure if I still have the energy to call estate agent to chase for an update from the vendor’s solicitor.. if they are really just waiting for the redemption statement from vendor’s lender then surely me calling everyday won’t help. Already had to call everyday to chase for a completion date (for two weeks) and then wait for them to review their file (another week), this was all after they failed to communicate with my solicitor for more than a month..
 
My body seems to be responding to stress, with chronic stomach problems getting a bit worse, cold sores coming up, irregular menstrual spotting, and last week my stomach bled after some lemon juice (not first time my stomach bleeds but never was because of lemon juice). If this keeps going on I’m not sure how much longer my body can take it..

So the vendor’s solicitor is still waiting for the redemption statement from the vendor’s lender. They seem to think because our completion date is set to be in December so there’s no rush to exchange.. but the completion date will only be actually “set” after exchange!! So what if we don’t have such a big gap between exchange and completion? (Vendor wanted two months gap - but now that the delay is on their side we are still aiming to complete at the start of December.) Surely people who are exchanging and then completing straight after can’t be just pushing their moving date everyday waiting for this redemption statement??? I’m so confused. Not sure if they should have ordered the redemption statement earlier, or if the bank is just incredibly slow on this. 

I have thought about going back home (abroad) to have some medical check up between exchange and completion… It would have worked if we actually have two months gap in between like what was planned and agreed. So fed up!!!

RM_2013

Bubblebutt9 said:

This is my first post on this thread and hoping we are near completion now. I’m just wondering at what point do you receive contracts to sign? 

22 August - accept an offer in our house and offered accepted in the house we’re buying. 

11 Sept - our mortgage offer received
21 Sept - our searches back 
30 Sept - our buyers mortgage offer received
10 Oct - buyers searches back 
13 Oct - my solicitor advised there was an unregistered leasehold (beneficiary was same person selling the house) that needed to be distinguished and this was don’t fairly quickly. But have since been advised that they forgot to include the rights of way over the shared drive on the freehold which is now being sorted out. 

Ours buyers have asked for an electrical check which we have done and a boiler service which we have also done and I think that is their enquiries complete. 

Really hope we can be in before Christmas

Our timeframe is fairly similar to yours we had sold STC end Jul and had an offer accepted 13th Aug although our initial buyer pulled out after a couple of weeks but the new buyers offered 23rd Aug.
our chain is 3 of us, our buyers are FTB, us and vendor we are buying from who is moving in with family.

we are desperately hoping to complete before Christmas - just waiting on confirmation that enquiries are satisfied 

RM_2013

@donutandbeer oh no that is frustrating. We haven’t had a completion date yet but hoping to set one soon.

how long should the redemption statement take? What is your completion date? 

RM_2013

Im starting to feel very negative about everything.  We don’t seem to be any further forward than we were a week ago.  I’m still being told enquiries are being reviewed and they will confirm once they are satisfied and only then can we start talking completion dates (this is for our purchase), on the sale we assume the enquiries were all completed but o keep getting a different story from our solicitors.

meanwhile I’m being chased by our buyers for a completion date and chased by vendors EA wanting to know how everything is progressing.

starting to feel like it won’t happen 🥲

donutandbeer

RM_2013 said:

@donutandbeer oh no that is frustrating. We haven’t had a completion date yet but hoping to set one soon.

how long should the redemption statement take? What is your completion date? 

Our completion date is set to be 8th December. So hopefully even if there’s a delay it will still be before Christmas. I think our vendor has actually had to book his moving company (he’s moving abroad and that’s why he wanted two months gap to sort things). We sold our place earlier this year, it was a chain of 4 I think, and it was way more straightforward than this chain-free cash purchase, we sold and completed in only 12 weeks. I was quite stressed when we were selling, not knowing that actually buying would turn out to be worse!

RM_2013 said:

Im starting to feel very negative about everything.  We don’t seem to be any further forward than we were a week ago.  I’m still being told enquiries are being reviewed and they will confirm once they are satisfied and only then can we start talking completion dates (this is for our purchase), on the sale we assume the enquiries were all completed but o keep getting a different story from our solicitors.

meanwhile I’m being chased by our buyers for a completion date and chased by vendors EA wanting to know how everything is progressing.

starting to feel like it won’t happen 🥲

I understand what you are saying. This whole process is incredibly stupid and stressful, and you won’t know until the very end whether it’s actually happening or not. I find it impossible to explain the house buying/selling process to my family and friends in my home country… Honestly where to start?? The incompetency is also difficult to convey 😂

I would think it’s still possible for you to complete before Christmas, but perhaps not having too high expectation on the timing is wiser. Moving too close to Christmas won’t be easy or any fun, but I understand wanting it to all be done so you won’t have to worry about it during the holiday. Think there’s another thread recently (title is something like “vendor said after Christmas”) with people sharing experience of moving too close to Christmas. People seemed to say aiming to exchange before Christmas and then move after is a good compromise. 

Ksw3

Failed to exchange last Friday, still haven't exchanged as we are also waiting on the seller to get a redemption statement. Our offer expires this month and I want to scream. 

RM_2013

Ksw3 said:

Failed to exchange last Friday, still haven't exchanged as we are also waiting on the seller to get a redemption statement. Our offer expires this month and I want to scream. 

Oh no 🙈 that’s so frustrating