The NEW waiting to exchange thread...

TamsinC

Ug - I despair - vendors want to complete at the end of the month (fine by us) but don't want us to have a 3rd look around. They are too busy, too stressed (extenuating circumstances), etc so cant let us view again - we have said we only want to look at a coupe of very specific things. If they are that busy/stressed how are they going to pack up the house and move? And I'm not sure I'm happy to agree to exchange etc without that 3rd visit. Survey report STILL isn't in either after 2 weeks and so that might raise some issues and so need it asap. Getting very despondent that this one is going to fall by the wayside too. I never want to buy again.

grayfox

6th June - Full application made with Nationwide
7th June - Valuation booked for 14th of June
14th June - Valuation took place
18th June - Valuation accepted
20th June - requested bank statements
20th June - Instructed a solicitor
26th June - Mortage offer issued.
29th June - Solicitor receives the draft contract, Searches begins
9th July - Still waiting for Searches. Solicitor said should be 13th at the latest.

Vender and I really want to move the start of next month.. Just can't see it happing... Can anyone tell me how far we are away?

My searches took a week to come back and had a home byers report done at the same time and that took a couple of days. Once your searches are done the next bit would be to raise any enquires, the enquires can take up to a couple of weeks maybe longer depending what info your solicitor has requested. So I'd say you're about 70% there, when the enquires are responded to and are satisfactory you'll be in a good position to exchange.

TamsinC

Finally - the survey report is through - nothing major on it at all, so that is good - just a few bog standard queries about certificates and building regs etc - so fired those questions off to the solicitors. Hubby is happy with not visiting again before exchange if needs be so we 'might' be looking at the end of the month - maybe. Though if they cant fit us in for 1 hour I'm not sure how they will find the time to pack up a large house. So just waiting for those replies and the council searches back.

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, something to do with panels for lenders 30/5/18
Sends hubbies official pension statement to mortgage broker as requested, along with all other documents 1/6/18
mortgage applied for 4/6/18
Broker emails - lender won't accept a word of mouth pension statement, so resend statement 6/6/18
Mortgage valuation done - 8/6/18
Visit house again - still love it - itching to get in - 17/6/18
Draft contracts received by our sols and queries raised with sellers solicitors 21/6/18
Lots of problems with the underwriter being stupid, finally mortgage approved 21/6/18
Broker puts in complaint with lender over handling of our case 21/6/18 (the 21st was a busy day)
Historical Buildings Survey undertaken 26/6/18
Basic searches back - 2/7/18
Signed mortgage documents - 9/7/18
Survey results - a long wait but all good - 11/7/18

thelem

House went on the market in October, the chain (4 parties, we are second from bottom) was ready to exchange two weeks ago but last minute things kept coming up to delay things.


Solicitor contacted me two hours ago to say the buyers are ready to exchange and confirm that we still wanted to, but not heard anything since. The tension is worse than the X-factor final "and the winner is..." bit. I'm sure Dermot never held that pause for hours!

TamsinC

thelem wrote: »

House went on the market in October, the chain (4 parties, we are second from bottom) was ready to exchange two weeks ago but last minute things kept coming up to delay things.


Solicitor contacted me two hours ago to say the buyers are ready to exchange and confirm that we still wanted to, but not heard anything since. The tension is worse than the X-factor final "and the winner is..." bit. I'm sure Dermot never held that pause for hours!

fingers crossed for you

cheeky-peach

Eagerly hoping for our formal mortgage offer very soon! After lots of faff with paperwork and waiting for a Forces Help to Buy PIN to come through, the Mortgage Lender now say they have everything they need... that's pretty much all we are waiting on before being able to exchange. COME ON!

thelem

Well it's not happened today. The solicitor at the top of the chain went AWOL and our vendor have complained that we're not paying a large enough deposit. We can pay more, but it takes time to move the money between accounts. Surely size of deposit is the sort of thing the solicitors should have been discussing as soon as they knew exchange was imminent?



Fingers crossed for Monday.

Chanlf91

We've complete! :):)

A quick timeline

21/4/18 viewed property, offer accepted.
24/4/18 mortgage application went in
29/5/18 mortgage offer accepted
11/7/18 exchanged contracts
13/7/18 completed!

We also got a lovely card and flowers from the vendor with bin collection dates.

Not moving in until next week as we're going to decorate it first.

Can finally relax a bit now! good luck to all still waiting to exchange/complete.

Thrugelmir

thelem wrote: »

Surely size of deposit is the sort of thing the solicitors should have been discussing as soon as they knew exchange was imminent?

Normally 10% of purchase price. This is set out in the contract.


Did you discuss this with your solicitor at all.

BladeY_2

Does anyone hate their solicitor? Hate might be a tad over the top but I thought I would go local and I'm not sure if I made the right choice.

We paid the £300 and took all the forms back 5 weeks ago. Apparently only had draft contacts and started the Searches on the 29th

I've only phoned them 3 times but it feels like they have a right attitude saying these things take time. I understand They take time but it takes 5 mins to speak to me in a tidy way and give me updates on the case over the phone.

Phoned Friday and they said some of the searches are back maybe She will need to login to the portal. She will write to me when she's ready.