The NEW waiting to exchange thread...

RM_2013

poppysmam said:

Good luck to everyone who is waiting to hear some good/positive news before the Christmas break. 

Thank you. I want to at least know that the form has arrived so we can proceed in the new year.  I’ve emailed but my solicitor is out of the office until tomorrow so unless her assistant picks it up don’t expect to hear anything today 

RM_2013

EndlessStruggle said:

Viewed another fixer upper yesterday. 

I was so tempted until I went into the bathroom and smelt the sweet smell of rotten wood and that is a line I'm not willing to cross.

It had so much potential and they are eager to sell as its a probate property.

Hopefully there are some nice price drops or new properties in the new year.

I've sent another email to my solicitor to talk about this damned inspection chamber/manhole.

Hopefully they will be happy with my answers if not I've got the water board and council options still to confirm it more officially.

I just don't want to lose my sale at this stage but I guess we'll see.

It’s slowed right down locally to me no new properties have come on in the last 10 days or so but I reckon new year will bring some new ones.  Hope you can get some answers 

RM_2013

@welly_59 we are 18 weeks after making an offer on a relatively short chain (just 3 of us) with still not exchange or completion dates due to complications with the house we are buying.  Very much depends on the length of the chain, speed of solicitors and other people in the chain. 

Chemistry777

welly_59 said:

How long are people waiting between offer and exchange these days?

Offer excepted 26th October, completed 16th December.

granted it was a sale to FTB and no upward chain.

Chemistry777

Lessons I learned from a previous slow drawn out (and ultimately failed sale).

1) Used Small local solicitor  - They didn't sit on anything and emailed me when something was needed.  I would then call in their office and sign documents, etc.   No wasted time waiting for post.
2) Understand the buyer -  Ours was FTB but were in a strong position in terms of LTV of property and salary.  Their mortgage was approved in a week.  Previous buyers, took weeks/months trying to get the necessary documents approvals from their lender.
3) Search's in our area are coming back in less than 2 weeks as the council no longer has a huge backlog (as was the case in the summer).
4) EA were more interested in new sales in the summer than sales progression, I think this has changed now and the EA's really need previous Sold STC properties to go through.
5) Less people on holiday (EA, sols, us, buyers).  No sitting on things for two weeks whilst someone in Spain !

Think that is it but most of all you need the person you are buying from or selling to, to be as invested as you.  Our first ones were terrible these ones were amazing.

Good luck everyone.

SprostonGreenHead

Chemistry777 said:

Lessons I learned from a previous slow drawn out (and ultimately failed sale).

2) Understand the buyer -  Ours was FTB but were in a strong position in terms of LTV of property and salary.  Their mortgage was approved in a week.  Previous buyers, took weeks/months trying to get the necessary documents approvals from their lender.

Being in a strong position as a borrower doesn’t necessarily make for a quick lending decision.

We are FTB borrowing at 75% LTV, far under what lender was prepared to lend us on AIP and all docs submitted upfront and nothing for lender to query. All handled by a good broker.

Still took Coventry 5 weeks to approve it. At one point they told our broker they were so busy they actually closed to new applications temporarily.

Camboudica

Today we finally had some good news, our conveyancer called Natwest about the revised purchase price paperwork to find out that they have no intention of sending new documents, they're happy that they've updated the price on their internal system and that's it, so we've been waiting 2 weeks for nothing. No idea why on earth our broker didn't know this seeing as she claims she called them last week... 

Anyway, upshot is we're ready to exchange. Paperwork all signed, 10% of the deposit transferred across, fingers crossed exchange takes place tomorrow with a view to completion on the 6th January.

I hope everyone else gets some forward movement this week. 

RM_2013

Camboudica said:

Today we finally had some good news, our conveyancer called Natwest about the revised purchase price paperwork to find out that they have no intention of sending new documents, they're happy that they've updated the price on their internal system and that's it, so we've been waiting 2 weeks for nothing. No idea why on earth our broker didn't know this seeing as she claims she called them last week... 

Anyway, upshot is we're ready to exchange. Paperwork all signed, 10% of the deposit transferred across, fingers crossed exchange takes place tomorrow with a view to completion on the 6th January.

I hope everyone else gets some forward movement this week. 

That’s great news.  Annoying that it took them 2 weeks to confirm it was updated on their systems but at least you’re on the home stretch 

RM_2013

No news on our purchase at all.  I have chased solicitor but she’s out of the office until tomorrow.  Just want an idea when we can complete 

SprostonGreenHead

Serious spanner in our purchase. The paper title owner of some land which has been used as part of the property (end of garden) has responded within their statutory notice period. The handy Land Registry thread here informed me of that. Don’t yet know the details but LR rep hinted that it’s not to state no objection to the claim.

Chasing solicitors to get details. Hoping they just want a small nominal fee to buy it or something.

More stress!