The NEW waiting to exchange thread...

loonywitch

Chimpy9 wrote: »

That is ridiculous someone must pick up their work when they're not in 😡 My solicitor called this morning confirming all enquiries were now answered (finally!!) just need to exchange now early next week to complete on the 18th. I'm just about seeing a glimmer of light at the end of a very long tunnel.....

I’m glad I’m not the only one who thinks that! Our solicitor has been in touch and our buyer they can’t do half term week but have asked for 1st March. We’ve provisionally agreed to this, however, it looks like we will have to complete by this date as their mortgage offer is due to expire (buy to let so wonder if offer was for shorter period?!)

Yay for you tho! Everything crossed!

loonywitch

Keentobedebtfree wrote: »

Hi! We are looking at part-exchanging our house with a Taylor Wimpey new build. I wondered how long the process usually takes? Any info much appreciated!

Might be worth starting a separate thread so you have more chance of people answering but in my experience, the estate agents arranged to come out quickly and offer was made shortly after that. As for everything after that point, it will entirely depend on their build programme.

Carlos77

Thought I would join in this one, although mine has been a little longer than most! Bear in mind it was built in 1910. and sellers are divorced and the property is part of a settlement!

May 2018 - Viewed the property

June 2nd 2018 - Had an offer accepted

July 2018 Survey done, and needed some minor repair works to allow the property to be mortgaged.

December 15th 2018 work finally completed and signed off - seller massively dragged there heels on it, as the work only cost 1k to fix and took 3 days in total!!

15th Jan 2019 Mortgage finally approved (self employed, and the bank kept asking for more information, in the end had 3 years accounts, and a projection of current year, along with dealing with an error companies house had made 3 years ago!)

18th Jan 2019 - Need new searches as the original ones had expired!

5th Feb 2019 all documents signed, and proposed a completion date.

Currently waiting for the sellers to talk about a completion date as no word yet! As soon as I have that I will transfer the deposit to my solicitor, but they are dragging there heels once again!!


Might be in by xmas 2019!!!!

WibblyGirly

Haven't checked in for a while! I'll update my progress:

Offer made: 30/12/18
Offer Accepted: 30/12/18
Decision in Principle received: 4/01/19
Mortgage Approved (inc valuation): 17/01/19
Solicitors engaged: 15/01/19
House documents received: 26/01/19
2nd viewing: 03/02/19
Searches paid for: 4/02/19

So now we are waiting for the searches to come back. We are not paying for another survey as we have a knowledgable friend who came with us for the 2nd visit. The house is also in better condition than any rental we've lived in!

After searches, which I hope will come back fine, we'll be hoping for exchange.

One annoying issue is that we currently rent and are stuck in a contract until the end of may. I'm hoping the landlord will agree an early release and I'm planning to offer our washing machine and fridge freezer for free if it encourages him to let us out. Both were really cheap and we can buy a new washing machine with the money I'll be saving in petrol costs!

Olliejoe

So everything so far seems to have gone well and very quick!

Made an offer on the 14/01/19
Offer accepted 15/01/19
Mortgage Dip 25/01/19
Searches requested 1/02/19
Mortgage offer received 4/01/19
Searches back/mortgage report received 6/01
Paperwork and contracts sent, signed and posted back 9/02/19

So now it’s just waiting for our buyers to sign contracts and then exchange. (Hopefully)

Just one thing that’s a bit worrying is that no EPC has been done so solicitors are chasing this. Our sellers also want 4 weeks between exchange and completion to find somewhere to rent, but we also have to give a months notice here. Fingers crossed that we could complete by the end of March.:)

teakay

24//10/2018 - Full application put through
26/10/2018 - Valuation booked in for 1st November
01/11/2018 - Valuation took place
02/11/2018 - Mortgage offer came through the post.
28/01/2019- Provide ID etc to solicitor
30/01/2019- Solicitor awaiting information from sellers solicitor to confirm they can sell.
11/02/2019- Still awaiting seller seems to have an issue securing finance to purchase house he is moving into? suprised this was not resolved prior to selling!! Delays really stressing

loonywitch

No idea whether the vendor’s solicitor is back in yet or not. EA said it wasn’t very good that it hadn’t been picked up in his absence (without me mentioning it so could to see we’renon the same page). She’s going to give vendor a call and try get them to chase too. Would really like to exchange and agree completion so I can order my washer

Thrugelmir

teakay wrote: »

11/02/2019- Still awaiting seller seems to have an issue securing finance to purchase house he is moving into? suprised this was not resolved prior to selling!! Delays really stressing

Little point in making a mortgage application until the purchase is confirmed in principle. Nor that the house they are purchasing doesn't throw up a curved ball or two.

Carlos77

Carlos77 wrote: »

Thought I would join in this one, although mine has been a little longer than most! Bear in mind it was built in 1910. and sellers are divorced and the property is part of a settlement!

May 2018 - Viewed the property

June 2nd 2018 - Had an offer accepted

July 2018 Survey done, and needed some minor repair works to allow the property to be mortgaged.

December 15th 2018 work finally completed and signed off - seller massively dragged there heels on it, as the work only cost 1k to fix and took 3 days in total!!

15th Jan 2019 Mortgage finally approved (self employed, and the bank kept asking for more information, in the end had 3 years accounts, and a projection of current year, along with dealing with an error companies house had made 3 years ago!)

18th Jan 2019 - Need new searches as the original ones had expired!

5th Feb 2019 all documents signed, and proposed a completion date.

Currently waiting for the sellers to talk about a completion date as no word yet! As soon as I have that I will transfer the deposit to my solicitor, but they are dragging there heels once again!!


Might be in by xmas 2019!!!!

Have a moving date now finally!!

22nd Feb 2019 so in total 8 Months, 2 weeks and 6 days from offer accepted to completion!! Its a good job we are selling our house once we are moved in and don't have a chain!

loonywitch

FML! After being advised that the chain ended with the house our seller is buying and them saying they were keen to complete asap...imagine our surprise to find out that the person they are buying from has withdrawn from the purchase of their new property! We've just been updated by their solicitor (via ours) and the estate agents and, as usual, its all cloak and daggers with the solicitor. He has just said there's an issue further up the chain and they have said it needs resolving by 8 March...a week later than the proposed date from our buyers!! Which I think is likely to be unrealistic.


Thankfully the vendor has given the bigger picture to the EA.


AAARRGGHHH!