The NEW waiting to exchange thread...

Ilovelondon

Offered on a house that had undergone refurbishment and extensions by vendor. Survey says that it has no building regulations from local authority.Asked estate agent why we weren't told it had not been signed off. They said the didn't no either. No one seems to know if this is going to be a major problem or not. We were originally told vendors wanted quick sale as they wanted a probate property. No one can contact vendors now for two weeks original offer was on the 26/7 we have everything in place our end but no where to go now now apparently surveyors say property indications are no site visits were made during build. Any advice anyone can offer first house purchase

Pumpkim

pollyannaL wrote: »

When i had my survey done, they advised to ask the vendor specific things in relation to building regs work, cavity wall insulation guarantee...am waiting for solicitors to send me enquiry form so I can ask everything! God know when I will receive this....

Pollyanna we got the draft contract pack sent over from the solicitor which included the property information forms and fixtures and fittings forms completed by the vendor, I then raised questions arising from this by email to my solicitor. She has raised them with vendors solicitor and we're waiting for the responses. The same has happened in reverse for our sale.
Has your solicitor received the first info from the vendors solicitor? The delay is probably that they haven't. Maybe the vendor is being slow at completing their forms?

chrisuk44

Hiya, First Post.
Thank you for all as it been a great help reading everyone's stories / nightmares which resolved.

So, delays / lies / inconsistency through out the whole process
15th May - Offer accepted
30th Aug - Exchange and Completion In Same Day!!!!! (Well Hopefully)

How can it be a 16 week process and now were expected to exchange and complete in the same day.
Were in a chain of 4 with 3 properties.
Bottom of chain first time buyers (Didn't have a clue what to do)
2nd link is part buy part rent!!!
This is where the delays started - No one in the housing association (Peabody) seems to be in any hurry to sort anything out or even answer the phone!
Couldn't exchange yesterday as the solicitors at Peabody didn't answer phone, all parties in chain have funds drawn down and ready to go.

We've got a removals van booked for the morning and still on edge whether its all going to happen or not. Will we be sitting in a van and it all go wrong?!?


Has anyone had good stories on exchange and complete in the same day?
Has anyone had dealings with Peabody housing?
I am a bit lost and am thinking the worst for tomorrow.........:mad:

enthusiasticsaver

We have exchanged and completed on same day on a purchase but only on a tenanted flat our daughter was living in so no furniture moving needed. Same five years later when we sold it but it was empty and a renter moving in so again no moving furniture involved that day. Who asked for yours to be exchanged and completed on the same day?

enthusiasticsaver

Update week 5

It has now been 5 weeks since we accepted an offer on the flat we are selling. We don't live in it so to a certain extent it is slightly less stressful than other moves we have had but I am still anxious it could fall through at any time.

The contract has been signed by me and the other two owners (my brother and sister) and is now back with our solicitor.

We own a share of the freehold but have no share certificate and apparently I should have received one in 2011 but do not have it. I got sent a copy of the land registry saying all 23 flats on development own 1 share each but no certificate which I did not think anything of at the time. Seems I should have paid more attention as now we have to sign a letter of indemnity for missing or destroyed share certificate. I have signed mine and had it witnessed but the other two owners need to do the same. One is now on holiday so there will be a slight delay.

Prospective purchasers spent an hour at the flat yesterday with estate agent meeting builders, decorators, kitchen design company and is planning lots of work prior to moving in. They have seemed keen all the way along so hope this will go smoothly. Their solicitors have asked about whether we know of any upgrades to the railway line at the back of the development. I have pointed out that there is a single track across the railway bridge going over the river and anyone who knows Cornwall should know trains in and out of the county are few and far between. We are lucky if we get one every few hours and they have to slow down to go over the bridge so not exactly express trains. We don't notice them and our balconies are great places to see the occasional steam train going over.

We are away for a week or so in September and I will start clearing the flat when we return. I cleared out 5 or 6 boxes the other day and have rung furniture clearance companies.

Good luck to all.

chrisuk44

enthusiasticsaver wrote: »

Who asked for yours to be exchanged and completed on the same day?

We've been trying to exchange for weeks, 30th Aug was always the completion date everyone had planned.
It was either that or end of September!

enthusiasticsaver

Is that the housing association (your buyers) who insisted on that? Seems strange they only want end of the month completion unless it is to do with paying rent for a further month. I assume you are the top of the chain?

Hope all goes ahead anyway.

toc25

Chrisuk

My mum managed to exchange and complete on the same day last month. There were only 2 properties in the chain and no mortgages. Both properties were shared ownership and it was the housing association that caused all the delays and made it in to a nightmare process for her. It all went through on the day though and worked out well. Good luck.

User1312

Getting really p***ed off now! We've been ready to exchange for a month - and PROPERLY ready for 2 weeks (i.e. transferred deposit, sent back signed contracts). The seller's solicitor are still trying to get an undertaking from this third party solicitor, which our solicitor won't let us exchange without. After third party solicitor going on hols for a week without telling anyone, they're now back but we still haven't heard anything. My solicitor is emailing/calling for updates but the seller's solicitor don't respond!

We don't know if the delays are with the third party solicitor, or if the seller's solicitor are just sitting on the undertaking.

I have chased the EA who has basically said 'well just exchange without it' to which my solicitor rolled his eyes.

I'm getting worried now because they still want to complete on 11 Sept and the closer we get to that date the less time we have to get things sorted in between - I'm especially worried about closing my HTB ISA which I've heard it can take a number of days to receive a closing statement for, and I've been advised to not close it until exchange!

Pushing back the completion date will then set off another chain of emails/requests which will take weeks to get a response for.

Can't believe solicitors are happy to just ignore people for days/weeks - it's plain rude!

enthusiasticsaver

Solicitors seem really blas! about how stressful it is when they do not communicate or action things as quick as possible. To them it is just shuffling bits of paper around and I think they have forgotten the effect delays and non communication have on people trying to move house.