The NEW waiting to exchange thread...

sophieo16

Happy new year everyone! I hope you all managed to relax over the Christmas holidays. 

Our conveyancer has confirmed this morning that both LISA and mortgage funds will be released tomorrow in time for the agreed completion on the 5th! So we are just holding our breath and waiting over the next day or so, hoping there are no bumps in the road.

I will keep my fingers crossed that everyone hears updates this week! 

setmefree17

Hopefully this is the right place to air views on this/ask for opinions...

We've had the bad news today that our house sale has fallen through due to our buyers sale collapsing, having had a notification literally 15 minutes before the call from our estate agents that our solicitors had received all our final paperwork for things to be completed within the next couple of weeks. 

Our estate agents have said they are going to keep everything going to keep trying with our current 'buyers' but have put the property back on the market to open it to potential new buyers. 

Our main issue is that we have a reservation for a new build property that is due to be ready to move into in April, and were going to be moving in with my in-laws in the interim to be able to have the funds from our sale in the bank to purchase the upgrades we want for the new build, so with these needing to be paid for upfront and the appointment for this looking likely to be early Feb, the upgrades we want are now looking less and less likely. On top of this, it's also thrown a potential spanner in the works with my daughters school application as technically she will still be living in our old area at the time applications close, meaning they will have to use our old address for the application, in turn making it less likely to get into a school near where we are moving to (incidentally very close to where our in-laws live, hence why we were going to be moving in with them temporarily).

My real question is, now that we are back at square one, with us already completing all the paperwork our solicitiors had for the sale before, would this possibly speed up the sale process once we get to the point of being Sold STC again? Obviously theres some parts where we will need to refill forms with the new buyer details on, but surely other stuff should be able to be reused?? 

Any advice/guidance would be much appreciated to hopefully calm some nerves and frustration I'm getting from the other half after the news today! 

EndlessStruggle

They rejected my first offer but after some back and forth they have accepted my third offer.

I've given authority to exchange today with completion for the 16th so now we wait and see....

It should happen today...

Edit - Just had a call from solicitors that they don't want to move completion date back a week....

They've kept us waiting a month and don't want to give me another week...

I've asked estate agents to have a word as solicitors likely pushing their own agenda.

SprostonGreenHead

Having spent the last few weeks not knowing where our purchase is going I've just had a breakthrough email from our solicitor.

The land at the end of the garden of the property we're buying which was owned by the original developer and subject to an adverse possession claim (as a requirement of our purchase) is going to be ours! I had our solicitor suggest the seller's rep contacted the developer to hurry things along (as my mortgage offer expires early Feb). The developer Redrow has agreed to transfer the land to the sellers for a price of £5k and the seller's have agreed they will pay for it. At a guess this will be Title Absolute rather than Possessory Title, so it's about the best we could hope for.

Expecting a more full update by the end of the day and hopefully flying head-first into exchanging contracts, because there was nothing else outstanding.

Here's hoping some of you in limbo also get some good news!

RM_2013

Happy new year all
well started the day feeling optimistic that the solicitors were finally back at work today after being off since 23rd December and spending all of Christmas in limbo.

email from solicitor today telling us that the transfer form they are waiting for from
the previous owners still hasn’t materialized despite initial copy apparently being sent 30th Nov and a further copy sent by guaranteed next day delivery on 22nd Dec also hasn’t arrived.

someone isn’t telling the truth and all the solicitors can say is that they are doing all
they can and will send another copy to the previous owners for completion 

I give up 

RM_2013

setmefree17 said:

Hopefully this is the right place to air views on this/ask for opinions...

We've had the bad news today that our house sale has fallen through due to our buyers sale collapsing, having had a notification literally 15 minutes before the call from our estate agents that our solicitors had received all our final paperwork for things to be completed within the next couple of weeks. 

Our estate agents have said they are going to keep everything going to keep trying with our current 'buyers' but have put the property back on the market to open it to potential new buyers. 

Our main issue is that we have a reservation for a new build property that is due to be ready to move into in April, and were going to be moving in with my in-laws in the interim to be able to have the funds from our sale in the bank to purchase the upgrades we want for the new build, so with these needing to be paid for upfront and the appointment for this looking likely to be early Feb, the upgrades we want are now looking less and less likely. On top of this, it's also thrown a potential spanner in the works with my daughters school application as technically she will still be living in our old area at the time applications close, meaning they will have to use our old address for the application, in turn making it less likely to get into a school near where we are moving to (incidentally very close to where our in-laws live, hence why we were going to be moving in with them temporarily).

My real question is, now that we are back at square one, with us already completing all the paperwork our solicitiors had for the sale before, would this possibly speed up the sale process once we get to the point of being Sold STC again? Obviously theres some parts where we will need to refill forms with the new buyer details on, but surely other stuff should be able to be reused?? 

Any advice/guidance would be much appreciated to hopefully calm some nerves and frustration I'm getting from the other half after the news today! 

Sorry to hear this has happened it’s very frustrating.  Sometimes the build dates on new builds get pushed back so
you might find they aren’t ready to
discuss the upgrades as soon as you think.
with regards to the school application could you give in laws address? 

Some developer do a part exchange scheme would it be worth exploring this with them? 

SprostonGreenHead

RM_2013 said:

Happy new year all
well started the day feeling optimistic that the solicitors were finally back at work today after being off since 23rd December and spending all of Christmas in limbo.

email from solicitor today telling us that the transfer form they are waiting for from
the previous owners still hasn’t materialized despite initial copy apparently being sent 30th Nov and a further copy sent by guaranteed next day delivery on 22nd Dec also hasn’t arrived.

someone isn’t telling the truth and all the solicitors can say is that they are doing all
they can and will send another copy to the previous owners for completion 

I give up 

Christ. What a nightmare. Guaranteed NDD is tracked isn't it? Definitely sounds like someone is telling porkies but I'd enquire as to the status of the tracked post as per the tracking ID.

setmefree17

RM_2013 said:

Sorry to hear this has happened it’s very frustrating.  Sometimes the build dates on new builds get pushed back so
you might find they aren’t ready to
discuss the upgrades as soon as you think.
with regards to the school application could you give in laws address? 

Some developer do a part exchange scheme would it be worth exploring this with them? 

Regarding the part exchange scheme it's something I'll ask, but they're a pretty small, local developer and I've not seen anything around either on their main website or in our information pack about part exchange.

As for the school app, the plan was always to use the in-laws address anyway, and having worked in LA Customer Services in the past, I have quite a bit of background knowledge about how the school application system works. The only issue that may come up with that is if they start asking for various bit of evidence of the new address... whilst I've already been able to change some things, others may be more difficult to come by.

Hopefully when I get something back from the developers on if they offer a part exchange scheme, they'll be able to give some more info on an estimated completion date and in turn, a more definitive date for selecting our options...

ambles

ambles said:

ambles said:

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.

So I had an offer accepted for exactly the same mortgage amount yesterday! What a whirlwind of a 24 hours!
So my mortgage broker is going to resubmit the mortgage application today and solicitor will get the ball rolling.

So we have agreed Completion for 6th Jan! I'm hoping to exchange before Christmas, I've closed my H2B ISA and I'm just waiting to hear back from my solicitor for what she needs from me next!

We exchanged on 23rd December! Due to complete this Friday
Can't believe it's finally happening!

Parties03

Ah balls 

the top of the chain we are in are not planning to rent, so we have been told (and we know) that sticking to the exchange date of end of jan is not going to happen now with conveyancing etc

not sure what this means really …. 

We also had to go back to our buyers and tell them that we will not break the chain with the uncertainty, which initially was the plan but if we end up with nowhere to live it would be a nightmare. 

So I’m full well expecting out buyer to pull out now too.