The NEW waiting to exchange thread...

SusieT

Charlwftb said:

Hello! Just wanted to ask a question about exchange/completion timelines. 

We had our offer accepted end of September and since then everything has been going through fine, although the seller has really been dragging her feet over some enquiries.

We have an online 'dashboard' for our solicitors and this is what they say is left to do;

Resolve 2 enquiries (waiting on certificates regarding cladding/fire safety etc). 
send them the deposit money
receive the report on title
exchange
complete

My question is - is it realistic to ask to work towards a 20 February completion date??

There has been no talk of dates yet, so should I ask for one or is still too early. The end of our current rental agreement comes up at the end of February and I really don't want to have to look for a new one!

Thanks for any help!

I have no idea if 20 Feb is realistic, but re your point about the rental agreement ending at the end of Feb, that does not mean that you need to move out or sign another contract. If a new fixed term is not agreed you will move onto a monthly rolling contract, and would have to give notice in line with the contract and its dates. The worst way is you would have to time your notice to be at the end of March and pay another month rent until then.

EndlessStruggle

My local council have just totally changed their process for searches and have outsourced it.

A few months ago they took 3 days to come back, they've now said be prepared to wait a month.

Mortgage company didn't tell me that to reduce my borrowing I would have to do a full mortgage application.

It's now been posted but a bit frustrating. I didn't have to do it with the last app as I was borrowing the same amount.

SecondStar

23/1 - offer accepted
24/1 - ID & proof of address sent to estate agent
25/1 - solicitor instructed for transfer of deeds/equity & conveyancing on purchase
25/1 - meeting with mortgage advisor to confirm docs needed for full application

26/1 - submitted all docs for full mortgage application
27/1 - confirmation of mortgage application received, and valuation booked for 30/1

SprostonGreenHead

So now things are held up by LR official searches, which were ordered on Wed and one of which was cancelled by LR on Fri, stopping the planned exchange from happening that day. Solicitor is sure she can get it straightened out next week and still complete on Fri. Mortgage offer expires the following Wed.

These are meant to be pretty rudimentary checks so it's worrying this is blocking us. I'm a bit peeved that given the lack of time remaining, solicitor didn't order these sooner. They're cheap, and even though the block other registrations and charges for a priority period, they can be cancelled, so IMO these should have been ordered the moment I was told "we're ready to exchange".

Polmop

I've had my offer accepted. House was built in 1992. No chain the seller is a landlord selling up and I'm a ftb. House buyer survey on wed and gas and electric certificates done next week as well. Searches are due back on the 6th of Feb. Do you think I've any chance of moving in before 15th March as I need to be out of my rented house by then 

babyblade41

Polmop said:

I've had my offer accepted. House was built in 1992. No chain the seller is a landlord selling up and I'm a ftb. House buyer survey on wed and gas and electric certificates done next week as well. Searches are due back on the 6th of Feb. Do you think I've any chance of moving in before 15th March as I need to be out of my rented house by then 

I'm not sure why you need to be out of rented by a certain date, hopefully you haven't given notice before exchange 

Polmop

Yes I have otherwise they wanted me to sign a new 12 month lease 

folkestonelisa

It’s reassuring to hear others progress Some questions were raised on Friday so I answered and sent them back to my solicitor. My mortgage went in on Tuesday and looking at others with NatWest, I’m hoping it will be pretty quick. I’ve been told as we are a 60% then they may not do a desktop valuation but we shall 

SusieT

Polmop said:

Yes I have otherwise they wanted me to sign a new 12 month lease 

Shame you did not post on here before handing in your notice, as if you did not sign another fixed term, then at the end of the current term you would automatically have gone onto a rolling monthly contract.
IF you have not officially handed in the notice, and just said you would not be signing another ficed term which at this point is a possibility, then please do not be bullied into handing in notice, as you do not have to leave at the end of a fixed term.

badger09

Polmop said:

I've had my offer accepted. House was built in 1992. No chain the seller is a landlord selling up and I'm a ftb. House buyer survey on wed and gas and electric certificates done next week as well. Searches are due back on the 6th of Feb. Do you think I've any chance of moving in before 15th March as I need to be out of my rented house by then 

Is the house already empty, tenants have vacated?