The NEW waiting to exchange thread...

Fairyliquid

So,, after our first sale fell through a massive price reduction to get it within more buyers reach. Then the solicitors problem. Each and every time I phone them up I ask is there anything else you need? No they say. Well last week our buyers buyer got round to signing contract late on Thursday. My solicitor then mentions some daft turn-up from a search done months ago about a drain! She then says file going to second signoff and BTW here is the bill at 13:20 on a Friday. Well, the whole chain was planning on 31th - yes this month! - as completion. I asked about the money going through via CHAPS at I think 4 PM and she says not arrived yet. Meanwhile the remainder of the chain are furious that exchange did not happen of friday but how could I have got the money there any sooner? Is it usual to ask for the money before exchange? If so surely a week or so notice would be ideal? I am nervous about the whole thing collapsing. Do CHAPS generally go through without a hitch, this is for over 100k BTW.
Thanks

datlex

Mortgage offer confirmed following valuation. Now awaiting solicitors to do the necessary to prepare contracts. Hopefully won't take too long.

kellym5

Morning All,

Bit of advice would be appreciated.

House put on market mid Feb

Accepted offer Mid April

Made offer on our purchase immediately and instructed survey, solicitor and mortgage broker. All sorted within week or two (Except searches etc...)

Survey done on our house about same time (Just valuation)

Nothing then until this weekend when my agent calls and says she has just spoken to the purchasers solicitor and they informed her they have been instructed to sit on the contract they received from mine.
Agent then rang purchaser who said she was waiting for money from her husband, assume divorcing, and that she still very much wanted to buy our house.


Obviously our main concern is losing our purchase, its ideal for us and we have spent best part of £2k on the purchase so far. Awaiting further info today and will share once received. I have asked to know exactly when she is receiving this money so we can decide whether to wait, and also so we can draw a line so this doesnt drag on forever.

Any other advice welcome, this is only my second house purchase.

Thanks in advance

KL0001

Unless she is getting the money in the next few days, I!!!8217;d re-market the house. You can still have her offer accepted, but as she!!!8217;s not currently in a position to proceed with the purchase, so Let her know if you get an offer from a more motivated buyer in the mean time you will proceed with that.

Pud1985

For what feels like forever, we get our keys on Thursday!


We had our offer accepted beginning of December but the current vendors have been struggling to find an onward property.



We're so excited. It's our first house purchase and is everything we wanted! We've been busy all bank holiday weekend buying sofa's and carpets etc. Just want to get in now and run around lol

Sienna1990

Fairyliquid wrote: »

So,, after our first sale fell through a massive price reduction to get it within more buyers reach. Then the solicitors problem. Each and every time I phone them up I ask is there anything else you need? No they say. Well last week our buyers buyer got round to signing contract late on Thursday. My solicitor then mentions some daft turn-up from a search done months ago about a drain! She then says file going to second signoff and BTW here is the bill at 13:20 on a Friday. Well, the whole chain was planning on 31th - yes this month! - as completion. I asked about the money going through via CHAPS at I think 4 PM and she says not arrived yet. Meanwhile the remainder of the chain are furious that exchange did not happen of friday but how could I have got the money there any sooner? Is it usual to ask for the money before exchange? If so surely a week or so notice would be ideal? I am nervous about the whole thing collapsing. Do CHAPS generally go through without a hitch, this is for over 100k BTW.
Thanks

It is normal for the money to go to them before exchange as they need it on exchange. We sent our deposit to our solicitor a couple of weeks ago. On Friday we were told all enquiries are back now and if everyone in the chain is ready then we can exchange. Really hoping for an update today. CHAPS payments take 2 hours to clear I think.

Akahotpot

Signed everything this morning at the solicitors
I might just be in my new house before 12 months from starting all this malarkey :rotfl:

Brickhill12

Big set back today,

Chain was all complete, literally on our way for a Mortgage meeting we have waited 4 weeks for and we get a call from EA saying our buyers no longer want to move house.. 4 1/2 weeks after they had their offer accepted.

Our new property is giving us 2 weeks to find a new buyer - eeeeek! It's never easy.

Best of luck to you all!

Sienna1990

Oh no Brickhill12! I hope you find a new buyer asap.

We have had all our enquiries back, everything signed and 10% deposit paid. Vendors suggested 29th June for completion. Our solicitor said as long as everyone in the chain is ready then we can exchange but no idea when that will be.... really hoping this week

TamsinC

FINALLY heard from the solicitors - highly recommended but it's taken them a week to respond - I hope this isn't a bad sign of things to come! It would set things back a couple of weeks to change now so going to go with it and hope the reviews and recommendations are the real truth.