The NEW waiting to exchange thread...

SG27

Brickhill12 wrote: »

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!

Oh no thats awful! Its my worsed nightmare! Good luck, according to my solicitor things have picked up a lot in the last couple of weeks for new buyers instructing so hopefully more buyers around for you.

FTBNow

We've had our mortgage offer arrive in the post today :j and had confirmation that the solicitors are beginning the searches we have paid upfront for.

With an onward chain (vendors we have purchased from have already found property) how long do we think it will take from here? Me and my partner were sort of thinking about a month, or is that too hopeful when we haven't even had a draft contract yet?

SG27

FTBNow wrote: »

We've had our mortgage offer arrive in the post today :j and had confirmation that the solicitors are beginning the searches we have paid upfront for.

With an onward chain (vendors we have purchased from have already found property) how long do we think it will take from here? Me and my partner were sort of thinking about a month, or is that too hopeful when we haven't even had a draft contract yet?

I would say an optimistic 2 months, but could be much longer. It depends on an awful lot of factors.

betsie

Still no exchange now into week 13. Still waiting for 1 person in chain. Apparently their purchase contract was emailed to them yesterday. This was apparently the last thing now it seems they still havent answered an enquiry on their sale. I’m so frustrated. Everyone else has been ready for 2 weeks. I feel like telling them all to stick it. No one seems to tell you the whole truth. Urghhh!!!128548;!!!128548;!!!129327;

SG27

We had the buyers surveyor carry out his survey yesterday. Took about 1hour 30. Hr was a nice guy, even explained a lot of the age of different parts of the house. I cautiously asked if everything was ok and he said he doesnt think we have anything to be comcerned about...

Now more endless waiting hoping the phone doesnt ring with bad news!

lena_halo

SG27 wrote: »

We had the buyers surveyor carry out his survey yesterday. Took about 1hour 30. Hr was a nice guy, even explained a lot of the age of different parts of the house. I cautiously asked if everything was ok and he said he doesnt think we have anything to be comcerned about...

Now more endless waiting hoping the phone doesnt ring with bad news!

Sounds positive! Fingers crossed it's all good!

Sienna1990

We are ready to exchange as the solicitor has told us but depends if the top of the chain is ready. There are 3 in the chain and we are the bottom (FTBs). The vendors suggested 29th June to complete and we confirmed this date suits us but we haven't had this confirmed. How long do you think we will actually exchange? Losing my mind constantly checking emails. 3 months into the process at the moment

KL0001

Everything is done on our end! Contracts signed, insurance ready to go for exchange. Mortgage paperwork signed and just need solicitor to draw funds. All other money is coming from the sale of our house; deposit moving up the chain and balance of purchase, solicitor fees, estate agent fees etc all from our sale, so that’s it. We’ve suggested completion mid July, which suits our buyers, hopefully will suit our seller too. Just waiting on the rest of our (short) chain to be ready and we can exchange, then I can relax a little.

28/3 - Estate agents draw up floor plan and photos
28/3 - mortgage AIP
29/3 - 1st viewing before
30/3 - full asking price offer received, we accepted
5/4 - viewed 5 properties, offer on one, accepted after negotiations that evening
6/4 - appoint solicitors, mortgage valuation on property selling
10/4. - mortgage appointment (via phone call, that was a long 2 hours)
13/4 - hand deliver paperwork and ID to solicitor
17/4 - mortgage valuation on property buying
23/4 - mortgage approved, draft contract sent to buyers
3/5 - draft contract received from vendors solicitor
4/5 - survey on house selling
16/5 - searches completed on property buying
18/5 - flood report requested
22/5 - received statements and contracts to read through in post.
30/5 - appointment with solicitor, went through paperwork and signed contracts.

TamsinC

Ug - received the initial documents from the solicitors today and starting filling them all in to then get an email from the broker to say that solicitor is not on the panel of the mortgage company so we cant use them. Spent the next few hours chasing quotes etc. Finally got another solicitor (I think) via the broker again (I was hoping to use someone local but it isn't to be). Oh my lord - house buying is sent to try us!

Time Scale so far . . . updates in bold
House on market - 10/1/18
Offer received and accepted on our house 17/1/18
Offer made and accepted on house 1 20/1/18
Various stuff happened
Exchanged on the house sale 27/2/18
Completion on house sale 2/3/18
Various stuff happened
Pulled out of the purchase of house 1 27/4/18
Offer accepted on house 2 19/5/18
Broker instructed as complicated case, solicitors instructed 21/5/18
EA sees proof of funds and ID check 22/5/18
Mortgage DIP received 25/5/18
Solicitors bungle - had a sol, didn't have a sol, have a new sol 30/5/18

FTBNow

SG27 wrote: »

I would say an optimistic 2 months, but could be much longer. It depends on an awful lot of factors.

We're in no rush: just excitement really. Our vendor are keen to exchange before the six weeks holiday so they can move during that period and sort out, but I'm guessing that is quite hopeful with our mortgage offer only just being approved and searches only being instructed our end last Monday (21st May). More so when you consider we've had no draft contract yet, and have only just received the fixtures and fittings list...

We're only about a month and a half into the process from when we had the bid accepted.