The NEW waiting to exchange thread...

babyblade41

Bossypants wrote: »

Congrats ancilla and babyblade, and welcome mick and Chimpy! Pull up a chair and make yourselves at home. :beer:

I've been frustrated with my buyers' seeming inability to get their solicitor fully instructed this week, but the agent is assuring me that they are solid buyers. We'll see, I suppose. I think this thread has made me paranoid, but they honestly seem a little bit too good to be true on paper to me, so the solicitor thing is making me more antsy than it probably should at this stage. On the plus side, their mortgage broker has been in touch to confirm that valuation will be booked within 48 hours, so at least there's that. One more thing to worry about I suppose!

No real news on purchase this week, but I didn't expect any. We're in that quiet phase of solicitors (hopefully!) beavering away behind the scenes while the rest of us wait. Trying not to let the anxiety take hold too hard for the moment, there's still a long way to go!

It really is stressful, I think for me this has been the most due to it being an emotional move after being away from home and the problems along the way which weren't solvable easily

I really do think it's time to revise the way we buy and sell in England and Wales as it's the same as it was decades ago

I'll be keeping an eye on your process and sincerely hope exchange happens soon

mooma29

So I’m back on the waiting to exchange treadmill. Our on off buyer is back on after 6 long months of peeing about getting a mortgage. To be fair to him I suppose it was more down to the Halifax than him but his inexperience did not help! We put our house back up for sale after they said he couldn’t have a mortgage after all at the end of November, (original offer accepted 12 July) I have shown about 9 lots of viewers around since then, which wasn’t bad for the time of year. Anyway out of the blue original buyer asked if tsb could value house as they would given him a mortgage. We said yes but wouldn’t take of the market till mortgage offer seen in black and white. Which happened on Wednesday, valuation “passed”mortgage agreed solicitor instructed. All good. The only fly in my ointment is my onward purchase are humming and hawing about reacceptibg our offer with him as the buyer given the history. Can’t say I blame them but I guess there’ll be another house for us somewhere if not. DD1 looks like getting lodgers for a while if they turn us down as I am not delaying this sale anymore than it already has been !

Finchy2018

12 Dec - offer accepted
17 Dec - Instructed solicitor
2nd Jan - mortgage application submitted
4th Jan - mortgage val
7th Jan - mortgage offer recieved

My solicitor has sent off for searches (how long do these take?) And sent some enquiries. I know the rest of the chain has signed contracts and are ready to go, I'm keen to get moved asap.

Chimpy9

Our searches were back within a few days but we're still waiting for the vendors solicitor to come back with enquiries on the contract and to provide a copy of the lease. We've also been held up with a further report required on a nearby disused mineshaft.

If everything goes to plan and you've got good solicitors should only be a few weeks.

Finchy2018

Thanks, I certainly trust my solicitor, I have known her professionally for about 10 years and as a result my whole family use her for property sales and purchases now, so happy we are in good hands!

Hopefully it doesn't take too long for you to get the leases and report.

Bossypants

babyblade41 wrote: »

It really is stressful, I think for me this has been the most due to it being an emotional move after being away from home and the problems along the way which weren't solvable easily

I really do think it's time to revise the way we buy and sell in England and Wales as it's the same as it was decades ago

I'll be keeping an eye on your process and sincerely hope exchange happens soon

Thank you, I appreciate the moral support and you are absolutely right, it's awful. I've been venting to my friend in a different country about this and she is absolutely aghast at how anyone can pull out for any reason for generally at least two months after they both agree to participate in the transaction. It's amazing how we still accept this as the only way in this country, out of sheer habit I suppose.

Still, people do seem to manage to get through it sometimes, so let's just hope for the best! :beer:

babyblade41

Bossypants wrote: »

Thank you, I appreciate the moral support and you are absolutely right, it's awful. I've been venting to my friend in a different country about this and she is absolutely aghast at how anyone can pull out for any reason for generally at least two months after they both agree to participate in the transaction. It's amazing how we still accept this as the only way in this country, out of sheer habit I suppose.

Still, people do seem to manage to get through it sometimes, so let's just hope for the best! :beer:

It beggars belief that the most expensive single purchase we ever make and it's left to chance and what if's pretty much

My buyers pulled out half way through and there wasn't anything I could do as it was a due process with land registry. They were posturing but I could understand how they felt. We did try and find something else but what we need is very few and far between and nothing remotely came up

The agents didn't release the whole truth , but they may not have been fully aware (?) and powers of attorney seemed nonchalant at best even though they decided to remove all of the garden from the sale to LR in the initial first registration . As hard as it that may sound we are not remotely connected emotionally to the seller.. never met any of those concerned so all the scenarios keep you awake at night

No bargaining power as PA's wouldn't benefit at all from the sale , we were actually worried that the elderly person may succumb and then put the whole lot even further down the proverbial and back to square one

It is a horrid situation for everyone involved, we knew we were committed to selling but we don';t know what the other parties think .

Ours lasted 3 months which should have been done in at most 6 weeks, it is very distressing when you are all relying on hearsay .

Fingers crossed for you and yours , will be waiting and watching to hopefully get good news for you all

Bossypants

babyblade41 wrote: »

It is a horrid situation for everyone involved, we knew we were committed to selling but we don';t know what the other parties think

This is exactly it. In my case, the EA swears up and down that the buyers are raring to go and it's just some practical/Christmas factors which have prevented them from fully instructing their solicitors. That's quite possibly true, but I have no way of knowing and so end up conjuring up all sorts of scenarios, like maybe they're stalling to see if something else comes up, or struggling to find the money, or having personal difficulties which might prevent them from moving after all, or or or. The mortgage valuation about to be booked does give me some small comfort, but now I have to worry about what it might find which wasn't picked up when I bought it 36 months ago, sigh.

Mooma, glad you're back with us, hope it all goes well this time!

mick1111

Finchy2018 wrote: »

12 Dec - offer accepted
17 Dec - Instructed solicitor
2nd Jan - mortgage application submitted
4th Jan - mortgage val
7th Jan - mortgage offer recieved

My solicitor has sent off for searches (how long do these take?) And sent some enquiries. I know the rest of the chain has signed contracts and are ready to go, I'm keen to get moved asap.

Our searches came through within a few days...

katherinegrey

Still waiting and feel it’ll never happen. Our buyer just keeps lying through her teeth. She first said she was ready to go and wasn’t in a chain, so we accepted her first offer for a quick sale, we explained we were buying a new build and estate agents told her same and she said she was ready to go with everything in place so this wasn’t an issue.

Turns out she’s divorcing and waiting her husband to buy her out.

I’m getting slightly frantic as builders have said after 25th Jan they’re putting our plot back up for sale, she assured estate agents she would receive her deposit either this week or next.

Email from solicitor comes and she has no paperwork from ex, no idea when money will arrive and her ex appointed a solicitor who has now left the firm and needs to appoint a new one. All on the same day she assured estate agents it’s all in hand.

Why put an offer in when you haven’t a deposit and have no idea when you’ll have one?! Shouldn’t be allowed. Estate agents assured us they’d seen proof of funds which can’t be true as we accepted her offer 20th of November and she still doesn’t have funds!

This is beyond stressful, knowing I’m at risk of losing thousands and the house because of her. I’ve done my part, we really are packed and ready. And it might be for nothing.