The NEW waiting to exchange thread...

annetheman

badger09 said:

annetheman said:

Only gone and bloomin' finally done it! 6 weeks from offer accepted to exchange, 7 to completion (I'm leaving out the preceding 10 months of gory torture for brevity's sake...)

*New timeline**

21 Mar 2024 - First viewing as back up to Rodent house; seller sadly died in late March 2024....
[…]

Purchase starts here
28 Oct 2024 - Offer accepted on Probate house, 4.45% below asking!
28 Oct 2024 - Paid for searches, solicitor re-instructed (sigh!)
29 Oct 2024 - ID checks completed.
31 Oct 2024 - Memorandum of sale sent to solicitors.
31 Oct 2024 - Searches started.
31 Oct 2024 - DIP with Virgin Money at very top of my affordability.
04 Nov 2024 - Some searches completed.
05 Nov 2024 - Virgin Money offered less than applied for after hard check DIP.
06 Nov 2022 - AIP with Accord mortgage, full application.
07 Nov 2024 - Accord mortgage valuation booked, surveyor can't use the key (...)
11 Nov 2024 - Accord mortgage valuation re-booked.
12 Nov 2024 - Accord mortgage approved.
12 Nov 2024 - Initial enquiries sent.
14 Nov 2024 - Responses to initial enquiries received.
15 Nov 2024 - Signed TR1, contract and mortgage deed sent to solicitor.
15 Nov 2024 - Second and final enquiries sent (dispute of contents remaining, I don't want to buy anything...)
22 Nov 2024 - All enquiries settled, deposit requested, completion statement paid!
23 Nov 2024 - Pre-exchange visit
25 Nov 2024 - My (buyer) side ready to exchange
03 Dec 2024 - Mortgage redemption statement pending from seller's lender
10 Dec 2024 - Exchanged at last!
16 Dec 2024 - Completion

Learnings:

1. Always find a back up house when your first choice presents myriads of problems.
2. Breaking the chain is the biggest stress relief.
3. A good broker and solicitor are worth their weight in gold.

Hoping for a positive week for everyone else waiting to exchange! Godspeed and good progress to all!!!

Just caught up after being away. 

Huge congratulations after such an epic saga. By now you should have completed🥳

I agree totally with your learning points. They mirror ours from 2020/21. 

Hope you’ll be really happy in your new home.  

PS given the chance, I’d  still spend Christmas with my dad.  

Thank you so much I love the new house and area, and you are spot on there, spending Christmas with dad while I still can anyway, but it'll be at mine

I finally got internet today, so can watch documentaries while I unbox! Just want to say good luck to everyone in the trenches, it's absolutely worth it (but I'll never move again, hopefully lol) and all the best @janoid19 I've heard so many stories where people have had multiple fall-throughs (as I did) and as cliche as it sounds, the final one always turns out to be the absolute best. Good luck with your new buyer (it's a when, not an if!)!

Myci85

@annetheman I've been checking for your update. Congratulations on finally completing and glad you love your new home! My partner doesn't agree, but I'm joining the 'I'm never moving again' club 😂

Happy Christmas in your new home!

janoid19

annetheman said:

Only gone and bloomin' finally done it! 6 weeks from offer accepted to exchange, 7 to completion (I'm leaving out the preceding 10 months of gory torture for brevity's sake...)

*New timeline**

21 Mar 2024 - First viewing as back up to Rodent house; seller sadly died in late March 2024....
[…]

Purchase starts here
28 Oct 2024 - Offer accepted on Probate house, 4.45% below asking!
28 Oct 2024 - Paid for searches, solicitor re-instructed (sigh!)
29 Oct 2024 - ID checks completed.
31 Oct 2024 - Memorandum of sale sent to solicitors.
31 Oct 2024 - Searches started.
31 Oct 2024 - DIP with Virgin Money at very top of my affordability.
04 Nov 2024 - Some searches completed.
05 Nov 2024 - Virgin Money offered less than applied for after hard check DIP.
06 Nov 2022 - AIP with Accord mortgage, full application.
07 Nov 2024 - Accord mortgage valuation booked, surveyor can't use the key (...)
11 Nov 2024 - Accord mortgage valuation re-booked.
12 Nov 2024 - Accord mortgage approved.
12 Nov 2024 - Initial enquiries sent.
14 Nov 2024 - Responses to initial enquiries received.
15 Nov 2024 - Signed TR1, contract and mortgage deed sent to solicitor.
15 Nov 2024 - Second and final enquiries sent (dispute of contents remaining, I don't want to buy anything...)
22 Nov 2024 - All enquiries settled, deposit requested, completion statement paid!
23 Nov 2024 - Pre-exchange visit
25 Nov 2024 - My (buyer) side ready to exchange
03 Dec 2024 - Mortgage redemption statement pending from seller's lender
10 Dec 2024 - Exchanged at last!
16 Dec 2024 - Completion

Learnings:

1. Always find a back up house when your first choice presents myriads of problems.
2. Breaking the chain is the biggest stress relief.
3. A good broker and solicitor are worth their weight in gold.

Hoping for a positive week for everyone else waiting to exchange! Godspeed and good progress to all!!!

Just caught up after being away. 

Huge congratulations after such an epic saga. By now you should have completed🥳

I agree totally with your learning points. They mirror ours from 2020/21. 

Hope you’ll be really happy in your new home.  

PS given the chance, I’d  still spend Christmas with my dad.  

Thank you so much I love the new house and area, and you are spot on there, spending Christmas with dad while I still can anyway, but it'll be at mine

I finally got internet today, so can watch documentaries while I unbox! Just want to say good luck to everyone in the trenches, it's absolutely worth it (but I'll never move again, hopefully lol) and all the best @janoid19 I've heard so many stories where people have had multiple fall-throughs (as I did) and as cliche as it sounds, the final one always turns out to be the absolute best. Good luck with your new buyer (it's a when, not an if!)!

Thanks so much. We have had a few viewings so still hope  

Congrats on your new house and I hope you have a great Christmas! xxx

DaffyDuck316

Happy to hear you made it to completion annetheman! I think I am on track for a completion date soon once Christmas festivities are done and dusted.

Lokolo_2

janoid19 said:

Thought I would add my journey onto here so far (buying/selling is soo stressful)

1st Nov 24 - 2 offer's on our house, 1 accepted (in rented)
4th Nov 24 - Offer on our purchase is accepted (no chain)
5th Nov 24 - Our buyer pulls out 
6th Nov 24 - 2nd original offer revisited and accepted (FTB)
8th Nov 24 - Solicitor instructed
14th Nov 24 - Received paperwork from solicitor
14th Nov 24 - Full mortgage application submitted
19th Nov 24 - Arranged full survey for our purchase for 26th Dec
21st Nov 24 - Valuation carried out on our property for buyers mortgage
21st Nov 24 - Buyer arranged for survey at our house for 3rd Dec
22nd Nov 24 - Received mortgage offer
26th Nov 24 - Survey carried out on our purchase
2nd Dec 24 - Received survey back (all looks good)
3rd Dec 24 - Buyers survey on our house
3rd Dec 24 - dropped all the paperwork & ID at solicitor
5th Dec 24 - Searches submitted on pruchase
11th Dec 24 - Buyer pulls out over survey results (nothing of any concern on survey according to EA)
12th Dec 24 - ?Our property back on market

I feel like we are back to square one and I am not hopeful of completing before the end of March and stamp duty increase. Our vendor is giving us until 23rd Jan 25 to find a new buyer so fingers crossed.

I know exactly how you feel! It's so disappointing isn't it when the buyer pulls out, I've been through that twice this year and now on the third buyer, house was listed in March, first buyers' probate house sale fell through so they had to pull out, second buyer had a stroke and decided not to go ahead buying after "re-evaluating life choices"...

Did your last buyer not try to even negotiate after the survey came back? It is disheartening after spending all that time and money, fingers crossed you can find another buyer in time!

janoid19

Lokolo_2 said:

janoid19 said:

Thought I would add my journey onto here so far (buying/selling is soo stressful)

1st Nov 24 - 2 offer's on our house, 1 accepted (in rented)
4th Nov 24 - Offer on our purchase is accepted (no chain)
5th Nov 24 - Our buyer pulls out 
6th Nov 24 - 2nd original offer revisited and accepted (FTB)
8th Nov 24 - Solicitor instructed
14th Nov 24 - Received paperwork from solicitor
14th Nov 24 - Full mortgage application submitted
19th Nov 24 - Arranged full survey for our purchase for 26th Dec
21st Nov 24 - Valuation carried out on our property for buyers mortgage
21st Nov 24 - Buyer arranged for survey at our house for 3rd Dec
22nd Nov 24 - Received mortgage offer
26th Nov 24 - Survey carried out on our purchase
2nd Dec 24 - Received survey back (all looks good)
3rd Dec 24 - Buyers survey on our house
3rd Dec 24 - dropped all the paperwork & ID at solicitor
5th Dec 24 - Searches submitted on pruchase
11th Dec 24 - Buyer pulls out over survey results (nothing of any concern on survey according to EA)
12th Dec 24 - ?Our property back on market

I feel like we are back to square one and I am not hopeful of completing before the end of March and stamp duty increase. Our vendor is giving us until 23rd Jan 25 to find a new buyer so fingers crossed.

I know exactly how you feel! It's so disappointing isn't it when the buyer pulls out, I've been through that twice this year and now on the third buyer, house was listed in March, first buyers' probate house sale fell through so they had to pull out, second buyer had a stroke and decided not to go ahead buying after "re-evaluating life choices"...

Did your last buyer not try to even negotiate after the survey came back? It is disheartening after spending all that time and money, fingers crossed you can find another buyer in time!

Aww, well 3rd time lucky hopefully!

Nope, they didn't even tell the EA that they were pulling out, just told their Solicitor who told mine.

We have had another good offer but we don't want to take the house down and mark as sold yet as she is still waiting for proof of deposit (ex partner is buying her out of house they own together so she's waiting for equity from that house). We would accept that offer if she can get the documents together soon but in the meantime accepting more viewings. x

john-5-2

We completed back in July after almost 7 months of stress (even the family dog had anxiety from it all & stopped eating for weeks).
Everything that can happen during selling and buying happened to us.
We lost our first buyer soon after solicitors instructed. We found a new buyer within days so we started viewing houses again. Out of around 30 houses we viewed over a few months only 2 of them ticked all the boxes.  We offered on 1 of them, Then the 2nd house we didnt offer on went sold stc. So we got  solicitors sorted, Mortgage valuation, Etc Etc. Then the seller decided they did not want to sell after all.
 We then chased the other house that was previously sold stc as they were having trouble with their buyer. Then after a few weeks & the previous buyer not being able to get a mortgage, it was decided to accept our offer. Then again instructed solicitors, valuation etc etc & instructed searches as soon as we received the mortgage offer. The buyer of the house we were selling decided to go on holiday for 2 weeks, Then instructed survey on ours, Then questioned survey for 2 weeks, Then again went on holiday for 2 weeks...so of course all this time nothing is happening. By the time my buyer realised she was actually taking the p*ss we had had search results back, Survey done(No issues) on our purchase & was close to exchanging contracts. However for some reason she managed to drag her feet along for another 8 weeks. 
Then as the process had taken so long our mortgage offer ran out. The lender made it very clear that they would not extend the offer so we applied with a new lender, Same day valuation & offered 2 days later & here we are today in our lovely house. I am so happy here. 
So from Selling on 28th December 2023 to completion 4th July 2024 was so stressful


Sorry that was a huge waffle

blaise802001

Anyone else waiting to exchange? We got our mortgage offer last week at the same time that all searches and enquiries came back. 

Solicitor reckons exchange should be end of the month and completion early Feb. 

Off to sign all the paperwork on Monday 🙏🏻

Alexandria93

Hi @blaise802001 we’re waiting to exchange…hopefully next week, with completion on the 31st! We’ve signed all the paperwork but just waiting for others in the chain to sign it. Anyone else hoping to complete before the end of the month? 

Lanky_larry

Joining in here, I'm not really sure where we are in the process, I have a cash buyer for our house, just in the solicitor back and forth, have a house I have offered on (18 months ago! this has DRAGGED) 
I won't need a mortgage either so some of the processes are reduced I have no clue where we are or what's next but this has already falled through twice, and there's a lot of emotions tied up in it, as this should have been our forever home, but my husband passed away before we could actually sort this, but I am just sitting and getting really anxious at every email that comes through!