The NEW waiting to exchange thread...

Finchy2018

gah this waiting around is frustrating. We have sent over contract and 10% deposit but have found out that further up the chain a mortgage offer was issued In the wrong name so we have to wait for that to be sorted out. So, still no idea of timeframes etc. I know I am being impatient but it feels like It's been going on for ages

Nigel-YZ1

Our Sale:
From going on market to accepting offer in early June - 3 days.
22nd November - Still waiting to exchange. One in chain had money locked away until September, our immediate buyer now going for mortgage offer she can afford.

Our Purchase:
Bungalow on market since June, we had offer accepted 6 weeks ago.
Vendor went quiet after acceptance - total silence.
Solicitors instructed, disputes over whether contract sent back by vendor.
Silence.
We've given ultimatum for them to create a contract by Friday 23rd November or we're out.
Silence.
We think vendors were kidnapped by aliens.

Other idea is they rethought the offer and are waiting us out. If we back out they don't have to pay the estate agent, if we pull out they owe nothing.
Meanwhile we're looking for somewhere to rent as we've got to be out soon - we've got the common decency to not screw a 6 house chain and people's dreams.

Shopper1315

Exchanged today whilst I slept following a night shift. Completing on Monday! Thank god the wait is finally over!

AIP - 17/08
Viewed property - 05/09
Offered - 06/09
2nd offer - 07/09
Accepted - 08/09
Solicitors appointed - 10/09
Full mortgage application - 10/09
Valuation booked for 17/09
Valuation cancelled due to key issue and rebooked 27/09

middleclassbutpoor

Below is a timeline of where we are so far. Seems to be going fairly smoothly so far. We have a chain of 4 properties with a first time buyer purchasing our home and the people we are buying from are moving into a house that has no further chain.

We accepted an offer on our current home on Friday 26/10/18
We offered on new home on Saturday 27/10/18 which was accepted same day.
Applied and approved for Mortgage online on Sunday 28/10/18
Documents sent to lender on Tuesday 30/10/18.
Valuation instructed on new home on Thursday 1/11/18
Valuation completed on new home on Tuesday 13/11/18
Valuation completed on current home for purchaser on Friday 16/11/18
Paid for searches on new home also on Friday 16/11/18
Searches started by solicitor on Wednesday 21/11/18
Mortgage Offer issued for new home on 21/11/18.
Product switch on mortgage paid for due to seeing reduction in interest rates 22/11/18

We are now hitting the end of the 4th week since the process started so keeping fingers crossed that everything continues to go smoothly.

JadeLouise

Aaaaannddddd were still waiting ! Phone call from estate agents on Friday to say that there was no estimated completion date despite my solicitor telling me the week before that it was 7/12 ! Apparently this is due to the building works still not being signed off. We are now 3 weeks past the proposed ( i know anything can change until exchnage though) completion date. I have emailed solicitor to ask why they've said this. if we're not in by Christmas and we have to apply for a mortgage extension, I'm throwing a paddy.

bopsybunny

Sunday 04/11 We had our offer accepted
Monday 05/11 Spoke to broker
Tuesday 06/11 Mortgage application with HSBC. Proof of income and proof of deposit provided
Thursday 08/11 Mortgage valuation
Tuesday 13/11 Mortgage offer! Booked HomeBuyers Report survey
Wednesday 14/11 Survey carried out
Thursday 15/11 Documents received from solicitor
Friday 16/11 Survey report received
Wednesday 21/11 Solicitor received signed documents and did ID checks
Thursday 22/11 Draft contract with solicitor, fixtures and fittings list received
Monday 26/11 Received mining and environment search reports

Still progressing fast. Nothing scary has come up on any reports so far. I keep laughing at the fact it's less than a month til Christmas and we don't know yet if we'll live here or there.

pinknsparkly

Ooooooh, a thread that might actually help keep me somewhat sane through this process!! We're buying the house that we currently live in from my parents (our landlords, who own the property as a BTL) so it *should* be a more straightforward process than for some of you.....

Mon 22nd Oct - applied for decision in principle online, which was rejected (later turned out to be a quirk in the address Royal Mail have recorded for us!)
Tues 23rd Oct - spoke to bank, and got booked in for a consultation
Fri 26th Oct - mortgage appointment with bank. Mortgage illustration sent through and documentation emailed to them (it was an online appointment). Valuation booked. Mortgage advisor promptly goes on holiday....
Tues 29th Oct - valuation performed.
Thur 1st Nov - Mortgage approved. Appointed solicitor (including payment of £250 for initial searches). Sellers (parents) appointed their solicitor.
Fri 2nd Nov - arrange for our bank to send us postal bank statements as solicitors won't accept ones printed (and stamped) by the branch, and won't accept driving licence as proof of address.... Who gets any paper statements these days??
Fri 9th Nov - bank statements arrived
Tues 13th Nov - husband and I take ID to solicitors to prove who we are. Solicitor raises enquiries with sellers solicitors.
Fri 16th Nov - our solicitors receive draft contract from sellers solicitors and raise some queries relating to it. Solicitor orders searches.
Thur 22nd Nov - chase solicitor who tell me that Lifetime ISA application (to withdraw money for deposit) has been sent off, and local searches expected back on Monday, upon which they may send further enquiries to sellers solicitor. They still haven't heard anything from the sellers solicitor regarding the first set of enquiries send on 13th Nov. Let my parents know the state of play (in case they want to chase their solicitor).
Fri 23rd Nov - Local search all back, two minor enquiries sent to sellers solicitors. Still waiting on response from them.

This process is demonstrating to me just how impatient I am about things that are out of my control!!! In an ideal world, I'd like an update from my solicitor on a daily basis (even if to say "there's been no progress") but I think that me emailing them on a daily basis might actually make them resign :rotfl:

emmaloo79

decided to post on here in an attempt to retain some sanity!!! apologies if this is a big long winded. I am currently selling to first time buyers, I stated clearly from the start I wanted to complete before xmas

17/10 offer accepted

2/11 mortgage valuation survey

08/11 homebuyer survey


all plodding along fine to the best of my knowledge. mortgage valuation came back fine, went to see my solicitor 20/11 to tie off some loose ends and sign contract


chased everyone left right and centre as I have reserved a new home and want to push to get my sale complete

estate agent speaks to buyers solicitor today who drops bombshell that environmental report has come back as high flood risk. made out like this is the end of the world. its only a surface water flood risk and when you look at the plans on the government website its touch and go and you could argue its not actually on my property
now in a bit of meltdown because apparently their solicitors have advised lender to check they will still go ahead (hoping they have common sense and realise its only minor) and buyers are now reassessing buildings insurance. ive never had any problems and nothing came up when I bought the house 4 years ago. am now worried my timeframe and entire sale might be in jeopardy arghhhhhhhhhhhh


really thought I would get an exchange date this week. also I think sellers solicitors are rubbish (my solicitor agrees )

AMJxxxxx

So, exchange date was set as 22/11 due to my deadline to hand my notice in on my rental. Everyone wants completion for Xmas. Issues on the day from my solicitors so spend the day chasing. Told everyone in the chain (me - seller - their seller) ready and just waiting on me. I manage to get it all sorted but can’t exchange as out of time. Check again with two above and all good to try again on the next day (Friday) so I give notice on my rental. No exchange Friday or today so ring Estate Agent to find out what is going on (all three times can’t get hold of Sellers Seller). Told today that they are trying to tie in another house to the chain (they sold to our seller chain free).

Really fuming now - I have taken the risk of handing in notice on my house. They knew about this last week and didn’t mention it - don’t like being lied too at all and feel like just saying I will pull out tomorrow if we don’t exchange. Not willing to take risk of being homeless over Xmas and don’t now trust them to hit completion date (which they and vendor wanted!). House buying is so stressful :mad::mad::(

bopsybunny

pinknsparkly - buying a house that you already live in and from your parents must be nice. You don't have to think about moving out! I've kinda left the solicitors to it as everything is moving fairly fast, but if we do have a day or 2 where nothing happens, I do think about chasing them. I've been keeping a diary on OneNote of everything that's happened so far and it annoys me when a day is blank!

emmaloo79 - hope it all works out. I'm a first time buyer, and to be honest if something like that came up in my searches I'd probably be worried. If it's just surface water and no recent/known history of actual flooding, it'll probably all be fine once they've had a chance to consider it. Still plenty of time before Christmas.

AMJxxxxx - let your letting agent/landlord know if there is a chance of a delay. From experience most landlords can be flexible if you may need to extend your tenancy short term (a day, or a week, for example). What's the chances of them filling the vacant property with a new tenant the week of Christmas - pretty much zero! So they'll be glad for the extra week of rental income