The NEW waiting to exchange thread...

julicorn

Urgh this is just annoying now. 

There three parties, FTB, our buyer, and us. 
When I spoke to our estate agent yesterday, she said it was the FTB's solicitors who were holding things up (accompanied by one of those 'online conveyancers are so terrible' rants that EAs like to do). I checked in again this morning - turns out the 'terrible' online conveyancers were actually ready to exchange yesterday, but it's our buyer's solicitor who's gone on holiday, left the case in the hands of a locum, and they reviewed it yesterday and decided he needed proof of funds for the deposit. 

Our buyer put his offer in in February, how on earth do they not have sufficient proof of funds? Absolutely ridiculous. I put my foot down and said we either exchange today or we have to re-negotiate the completion date. I know our buyer's mortgage offer runs out, but honestly at this point I've lost my patience. We'd agreed to 6 weeks between exchange and completion, now it's less than 4 weeks left. 

Maximus5

My story at so far,

House went up for sale 17th March,
Accepted an offer the following weekend.
Offer accepted on another property start of April. 6 weeks in our buyer pulled out and we lost the house we had accepted on.

End of June accepted offer on our house,
Offer accepted on another house, process been delayed around 7 weeks due to a charge on our title register which shouldn’t have been there. Finally resolved last week. Asked our buyer for a exchange and completion date but not heard back yet, been a week and starting to get stressed out (again)

Fortunately our mortgage offer is valid until February 

rfoodie93

So we are currently 14 weeks in ( no chain either side) and still waiting on the sellers sol to respond to the final enquiry,  which is the management pack. They have been incredibly slow throughout the process. No dates have been mentioned yet so we are getting very anxious that we may not complete before Christmas. How can I put more pressure on the seller? 

Panda126

Buyer’s solicitors keep delaying the exchange !

We were supposed to exchange on Friday, they said they will aim to exchange that day but they can’t promise anything…at the end of the day they said they will wait for their ‘main’ solicitor to exchange on Monday but 100% they will exchange that day. On Monday they said they will exchange but they didn’t (apparently they were reviewing the files – but they should be ready on Friday!!!) and reassured us the exchange will happen Tuesday. Now they said it won’t happen today without any reason.

Everything is ready, buyers are ready, deposit sent, contracts signed.

It’s only the buyers (FTB) us and the developer that is waiting for us to exchange.

And we are 5 days away from completion!

Is this normal ?!

Bubblebutt9

We are hoping to exchange Friday with completion to take place on 30th November. Wish us luck 

1616six

We thought everything was done, have settled the full completion statement balance etc then get an email today saying the evidence for our partially gifted source of funds doesn’t meet compliance so they need more documents before we can exchange.

Time is ticking, if we don’t complete by the end of the month it’s another £700 in rent to fork out so I’m praying it can be sorted!

hdh74

Another day of no response from the bottom of the chain. We're supposed to complete on Monday (the day they set) and they will neither exchange nor offer an alternative date. Nor even give us a progress update.

RM_2013

julicorn said:

Urgh this is just annoying now. 

There three parties, FTB, our buyer, and us. 
When I spoke to our estate agent yesterday, she said it was the FTB's solicitors who were holding things up (accompanied by one of those 'online conveyancers are so terrible' rants that EAs like to do). I checked in again this morning - turns out the 'terrible' online conveyancers were actually ready to exchange yesterday, but it's our buyer's solicitor who's gone on holiday, left the case in the hands of a locum, and they reviewed it yesterday and decided he needed proof of funds for the deposit. 

Our buyer put his offer in in February, how on earth do they not have sufficient proof of funds? Absolutely ridiculous. I put my foot down and said we either exchange today or we have to re-negotiate the completion date. I know our buyer's mortgage offer runs out, but honestly at this point I've lost my patience. We'd agreed to 6 weeks between exchange and completion, now it's less than 4 weeks left. 

Annoying. Did you manage to exchange today? 

RM_2013

Maximus5 said:

My story at so far,

House went up for sale 17th March,
Accepted an offer the following weekend.
Offer accepted on another property start of April. 6 weeks in our buyer pulled out and we lost the house we had accepted on.

End of June accepted offer on our house,
Offer accepted on another house, process been delayed around 7 weeks due to a charge on our title register which shouldn’t have been there. Finally resolved last week. Asked our buyer for a exchange and completion date but not heard back yet, been a week and starting to get stressed out (again)

Fortunately our mortgage offer is valid until February 

It’s such a stressful process.  We were almost ready to exchange until our solicitor discovered an error caused by a previous conveyencer which meant that titles have to be checked and this could cause delays on our purchase.

I hope you can agree dates soon 

RM_2013

rfoodie93 said:

So we are currently 14 weeks in ( no chain either side) and still waiting on the sellers sol to respond to the final enquiry,  which is the management pack. They have been incredibly slow throughout the process. No dates have been mentioned yet so we are getting very anxious that we may not complete before Christmas. How can I put more pressure on the seller? 

Frustrating isn’t it? We are almost 15 weeks in with a fairly straightforward chain of 3 but delays caused by solicitors on both sides and now uncovered an issue on a leasehold title. We were really hoping to move before Christmas but seems very unlikely this will now happen 
can you go through the EA as often they are good at chasing up sellers and vendors