The NEW waiting to exchange thread...

StarLord

@vilinnist


It's not a situation that I have heard of before, but a buyer can request whatever they like essentially, it is up to the seller whether they want to comply. I would assume that they have been in a situation with a previous purchase where they have been stung with a seller that has left possessions/rubbish for them to clear.


Obviously, you are entitled to say no and they would likely not pull out - and of course you could pull out if you think they are trying to mess you about. In terms of legality, it is not a legal requirement but they are within their right to request and state that this is a non-negotiable term for them, and leave the ball in your court, so to speak

Tootling

Grrr. Nothing goes to plan. Nothing happens smoothly. Nothing.

!!!!!! do solicitors actually do, it is a mystery to me! I guess it is supposed to be otherwise they couldn't charge us an arm and a leg.

So the lenders solicitor for the !!!!!!!s who lied about being able to break the chain early and have this held everyone up, have required an undertaking for some reason, for documents to be signed at completion or some such thing.

What, why?

Anyway. Their solicitor completed this undertaking and sent it back. So great right? That's the one last thing. Exchange!

No! WRONG!

No, the lender's solicitor says it has been worded incorrectly so back it goes again!

They took a week, upwards of a week to get this thing done and now they are sending it back.

This has been the goddamn case all the way throughout this thing.

First two solicitors taking a month to !!!!! about having to answer queries and one saying they have done it and the other saying they haven't.

One of those idiots then sitting around on a matter that our solicitor asked them about the a month and doing nothing about it.

Then or lender's valuer going AWOL and not getting back to us over this thing fur over a week.

And now this.

Seriously. It all feels like little things.

I can cope with big things really. Big things you kinda can't always control. You have to deal with them. But this... This is just bloody irritating incompetence.

I want to know who this lender is because they sound like utter pricks.

Why would they not allow the !!!!!!!s to break the chain? Why did they have to exchange simultaneously? It doesn't make sense to me.

Why do people move house! Why why why!

And i think at this point everyone is rattling the chain and getting thoroughly fed up with these lying scumbag !!!!!!!s. Although this itself may not be their fault it wouldn't feel so bloody frustrating had they actually been honest with us from the off set.

And bring ragingly angry at them and calling them every rude name under the sun certainly helps me feel a lot better.

Maturity is not what is trumped up to be!

Asl77c

Well i feel these boards have been helpful in getting me through what has been going on so here is our timeline.

29/12 AIP on mortgage for value needed
24/01 offer accepted on purchase and on sale - negotiations went on for a couple of weeks- Chain complete
25/01- solicitors instructed
8/03 - Mortgage offer recieved.
5/04 - Exchanged!!!!
16/04 - Completion day
Strictly speaking not waiting to exchange but i was too superstitious to post prior to the process. Looking back now at the timeline it has been 10 weeks total which i have to say it feels a hell of a lot longer. Good luck to everyone on their exchange we're very happy here

LucyR_

I’m back to join in the nailbiting/impatient waiting! Updates in bold below:
31st Jan: partner went to see flat at lunchtime. We’d seen one almost identical around the corner at the weekend, but asking for £25k more and with a chain. This one had been rented but now vacant and vendors want to sell quickly due to divorce. Partner happy with flat, so I tell him to make an offer (madness!)
31st Jan: Initial offer rejected but estate agent told us to add £5k and it would be ours due to our favourable position and ability to proceed fairly quickly.
1st Feb: one vendor accepts new offer. Second vendor being slow - squeaky bum time and wanted it off the market before a number of viewings on the Sat - estate agent suspected this would lead to bidding war.
2nd Feb: second vendor agrees to offer, phew!
3rd Feb: I finally go and see the property with partner. Thankfully, I agree with his opinions. It needs some tidying up and eventually a new boiler, bathroom and kitchen but nothing we can’t live with for time being, plus it’s a bargain so we’ll be able to afford these things!
5th Feb: instruct solicitors
10th Feb: seek further mortgage advice due to deck access on property above ours - decide to apply via broker rather than direct to Nationwide.
12th Feb: submit mortgage application.
13th Feb: documents requested and sent. Frantic running around to get parents to sign gift letters.
14th Feb: valuation booked for 16th. Docs taken to solicitors.
15th Feb: mortgage approved subject to valuation.
16th Feb: mortgage offer received.
21st Feb: survey conducted. Surveyor called us in the evening to say generally all fine, a few things to double check but otherwise lots of covering their bums. Solicitor received this the following week and started searches.

... and then we wait for the vendors to provide our solicitor with the Leasehold Information pack and to complete the info form, which took AGES!

10th March: parents came to visit. Took them round to have a look at flat, as wanted Dad to look at electrics and some other things. Had a massive panic that we’d taken on a bit more of a project than we anticipated but it’s definitely habitable - needs a good clean when we move in though and lots of niggly things that we can sort eventually.

12th March: solicitor finally receives the docs above. You’d think the vendors would speed it up seeing as they want a quick sale. But nope the leasehold pack didn’t come for another week.
23rd March: solicitor raises enquiries, all kinds of unnerving things I’m hoping will be fine.

So thankfully we didn’t have to rush to exchange before I went on holiday, but seriously hoping this will happen soon as we want some overlap with our rented flat so we can sort the master bedroom out and hopefully put a new bathroom in before we officially move in. It feels like absolutely nothing is happening most of the time - such a slow process!

hjghg5

Joining in. Selling a probate property and would quite like to get it done smoothly because I want to use the money on home improvements to my house over summer (my sister is the other executor/main beneficiary and has exactly the same plan for her share).

Went up on rightmove 16/3
17/3 asking price offer, accepted

We've filled in everything the solicitors asked us to but not much other movement so far. Apparently the survey is today so fingers crossed something may happen soon. We're not pushing too hard just yet as the probate paperwork is still in the system.

No purchase at our end and apparently not dependent on a sale at the buyer's end either so fingers crossed it is relatively smooth. He is getting a mortgage though so there is a lender involved.

betsie

Our buyers buyer has finally arranged their survey for next week 45 days after their offer was accepted - urgh. They are cash buyers and the house is only 5 yrs old so not sure why they are bothering. Just praying it doesn!!!8217;t cause problems. All the solicitors stuff is going ok and most in the chain are just waiting for search results now. Hoping this doesn!!!8217;t throw a spanner in the works!!

vicki2221

I think I have given up hope of ever exchanging. We were told receiving the buyer's mortgage offer was the last step. That happened and "oh, how we have to wait for the lender to approve their deposit". Now that's been done and it's "now we have to send the buyer's the contract for them to sign and return". WHY wasn't that done weeks ago?? We signed ours weeks ago. These people are just fobbing us off, one thing after another, it has been dragging on for months and months. I am so tempted to call the whole thing off.

Rosestar123

Hi Everyone!
I have been watching this thread for a while, it has kept me sane where I have wanted to jump off a bridge with the whole process! ( apologies for the really long post... this process has been long..)

So I thought I would update you on where I am and we can commiserate together because I am so fed up I literally want to cry! my OH thinks I'm overreacting but honestly patience is not a virtue I just want to be in this house already! So any thoughts would be appreciated! Maybe send me some wine...

Background:
FTB, me and OH currently living at my mums (interesting!)
Put an offer on a house that had tenants in.
This should be the smallest chain ever, FTB and landlord selling off rental property.

Timeline
14/11 - Offer put on the house
(This was the second house that I put an offer on. The first house I missed out on as vendor decided they wanted an extra £10k.. no! so quickly said no to that. Felt very sad as a FTB and wanted to know why anyone ever wants to buy houses. So saw this house, better than first one, loved it saw it once with OH told him I like it, I wanted it. Needed some work, new kitchen etc but nothing that couldn't be done further down the line!

24/11 - Offer Accepted
Finally! Was like, what is taking so long! (Estate agents did try to get me to increase my offer but I said, If the seller hasn't actually rejected my offer...then no I'm okay.)

26/11/17 - Solicitor instructed

08/12/17 HB Survey Completed
19/12/17 Mortgage Offer Received

01/01/18 Tenants Given 2 months notice
24/01 Contract docs received & search's ordered

01/03 Tenants move out property
22/03 Final letter from the council requested


06/04 - Today's update. Nothing.
The house has been empty since 1st March. I am waiting for 1 piece of paper from the council. Something my solicitors picked up about not being liable to pay for works carried out on the estate, so just need them to confirm this in writing... (too complicated and annoying to go into).

Literally going crazy. I ask my solicitors and they said we are still waiting for the seller's solicitors to send over the final letter from the council.

I ask the estate agent, who tells me the same thing.
Called estate agent yesterday and said do we even know if anyone from the council has acknowledged the request? Can they even write this letter? Is it on someones to do list or has the request not even been read yet? (As you can see I am starting to go a bit crazy....)

She said, that the seller's solicitors said they call "but no one returns their calls". I'm sorry but like what?! So i said to estate agent, here is the direct number to the department in the council. I can't call, can you just call and find out whats happened.

So here is where i get a bit crazy... (any advice appreciated)

05/04 11am- Gave estate agents direct number to the council, said please find out.
05/04 - 4pm - Emailed estate agent to see if she managed to get in contact! (no reply)
05/04 - 5pm - My sollictor emailed to let me know they have had no response from sellers sollictor.

so here we are today 06/04 and i really want to call up estate agent and be like HAVE YOU CALLED what are they doing. I dont mind if its going to take ages to write the letter i just want to know that someone will do it.

Better judgement tells me i should just wait until wednesday and ask for an update then

Please help, send wine. I just feel so frantic because I'm so close yet so far! and if you have read this whole post, then thank you i needed to get this off my chest!!!

TamsinC

Signed all the relevant docs on Tuesday - now just wing for our Deed of Easement and a couple of other minor bits and bobs and then we shall be good to go. Shall we take bets on which day of NEXT month we finally exchange? I'm going for the 4th!

xclare

Hi All,

We are pretty close to exchanging now, just waiting on some paperwork/copy of receipts regarding some basic query's .I have spoken with the estate agent today explaining that we would be looking to exchange beginning of next week completing end of next week so long as everything goes as it should. I have been trying to get them to discuss a potential date with our sellers as we need to have a rough guide for leaving where we are and also our sellers are going into rental. Today when I spoke with the EA straight away they shut it down saying it takes 5 days to draw funds ,I have in the past exchanged and completed on the same day so I am fully aware that end of next week isn't that unattainable. The ea's seem reluctant to talk with our sellers regarding dates and instead said they would speak with my solicitor and get back to me.(they didn't get back to me)
Am I being unreasonable pushing for a rough date for us to all work towards? It seems silly to push my solicitor to get it all done next week if my sellers aren't in the position to move out for another fortnight??