The NEW waiting to exchange thread...

rescynic

Joining here after moving over from the "Anyone want to join me? Awaiting Mortgage decision thread", we are now officially waiting to exchange (I hope/ think) the whole things been a bit of a blur to date, we are currently working towards a completion date of 12th April, so fingers, toes and everything else crossed there aren't any spanners appearing.

timeline of events:

2nd Jan we get AIP and start looking
2nd Jan - 22nd Feb we view a few properties get outbid, lose out the usual story
22nd Feb we view The ONE put an offer in there and then, then we have the worst weekend imaginable (waiting sucks)
25th Feb. offer Accepted, solicitors geared up, mortgage broker instructed to put application in etc
26th Feb. Mortgage app goes In
1st March Mortgage app approved, waiting on the offer in the post. email solicitor to update, just waiting on qualified acceptance and titles from sellers solicitors. They will be in touch.

Update

11th March Mortgage offer received in the post on the 7th, email solicitor to check where we are and still waiting on qualified acceptance and titles from sellers solicitors. another week of limbo commences
12th March qualified acceptances received and promptly returned to the solicitor with amendments, mortgage company notified of gifted deposit bit and still waiting for contracts from their solicitor.
21st March. T minus 3 weeks to go. Have to admit a bit anxious at this stage, we're at the stage of taking on additional costs (haven't put in our notices as yet as we were advised to wait till exchange) mortgage company have confirmed happy with gifted deposits, proof of gifted deposit transfers and ID requested by our solicitor and issued by us. now our solicitor says we're still waiting on contracts being issued by sellers.

Update 11th April

10th April Exchanged contracts
12th April completion day Woooohoooo!

Didymus

JadeC93 wrote: »

We are in the same situation as you! Transferred our deposit and paid our solicitor ready to exchange but haven't managed to get hold of our sellers' solicitor to get an update on the house they are purchasing (it's empty)


Hopefully will hear something soon!!!!!! We are so fed up with waiting around!!!

Another day down and still no exchange for us! It’s comforting to know we’re not the only ones waiting!

There’s two sets of solicitors involved on our vendors side, one dealing with the sale and the other dealing with the lease extension which is happening alongside the sale. The two solicitors haven’t managed to talk to each other yet....

Our solicitor now says exchange on Monday with completion still late next week. I’ll believe it when I see it!

Olliejoe

We exchange on Monday!! Deposit sent across this afternoon. Hoping to complete April 7th. ����

loonywitch

I’m exhausted from the continuous chasing!

Solicitor said she’d had a jumbled message from buyers solicitor regarding ensuring funds would be available but not actually agreeing to suggested completion date of next fri. She’d rang them back but they were unavailable.....will there be an issue for releasing funds? How long does it take normally?

Solicitor said she would set up the file and obtain settlement figure for 8th to be on the safe side.

In the meantime I spoke to our EA who said buyer is definitely agreeable to next Friday and would chase his solicitors.

Hopefully we can exchange next Monday. Really want everything locked down so I can start making the arrangements then just need to use for the purchase

Cat_Mum

Loonywitch
We were hoping to exchange/complete next Thursday but not looking likely now as it seems our buyers searches are not all complete (even though they’ve signed everything!). I really wish we didn’t have to exchange and complete on the same day but our seller is in very poor health and their power of attorney is protecting against not being able to complete.
Lenders usually ask for 5 working days to draw down funds although I think they can do it quicker if asked nicely by the solicitor.

hobnobgti

Timeline:-
4/1 - View house, offer made that evening and accepted
9/1 - Mortgage application submitted. All done online and approved pending valuation by afternoon
11/1 - Valuation completed and satisfactory
14/1 - Homebuyer report and mortgage offer received. Solicitor instructed
4/2 - All remaining searches back

Having all gone quickly and smoothly its now becoming a pain having originally been on track for our hoped for early March completion. Discovered after 3 weeks that the solicitor had sent contracts for us to sign for the wrong address! Having returned these a fortnight ago we have now found out those were incorrect and have now signed and returned correct ones.

I just hope now that is sorted we will hopefully be contacted early in the week to send through our deposit and can exchange and complete soon after that.

loonywitch

We were hoping to exchange/complete next Thursday but not looking likely now as it seems our buyers searches are not all complete (even though they’ve signed everything!). I really wish we didn’t have to exchange and complete on the same day but our seller is in very poor health and their power of attorney is protecting against not being able to complete.
Lenders usually ask for 5 working days to draw down funds although I think they can do it quicker if asked nicely by the solicitor.

Our buyers have been ready for a while...we’ve been holding it up hoping to complete on our purchase at the same time so you’d think it would be straight forward for them given we’re breaking the chain! But nope - still a nightmare!

CarrieVS

Well I got my contract paperwork yesterday so I guess it's time to post here?

It's just gone from having nothing to do but wait patiently for the grown-upslawyers to sort things out to a million and three things to do ASAP, but I'm supposed to contact my solicitor to discuss a completion date, so I think this counts.

Timeline:
- 05/01: first viewing
- 14/01: mortgage AIP comes through with perfect timing to make my first offer
- 15/01: final offer accepted
- 17/01: solicitor instructed
- 21/01: mortgage application completed
- 24/01: mortgage offer received
- 04/02: satisfactory survey report
- 13/02: draft contract, queries raised with vendor's solicitor
- 28/02: queries resolved; final contract, TR1, and solicitor's bill
- 01/03: panicking and trying to work out how and when to do all the things I need to do now

Didymus

We’re starting to get extremely frustrated now! Every day we’re expecting to exchange with completion supposedly this week after exchange, but every day the vendors solicitor doesn’t come through.

We’re 100% ready to go, money transferred over to our solicitor and it’s very frustrating having no control over a delay on the other side.

The property we’re buying is empty, no chain at all, only complication was a lease extension happening simultaneously with the purchase, but that is all supposedly sorted and our solicitor has all the paperwork to prove it, so goodness knows what is causing the hold up!

We shall see if tomorrow brings us any more luck!

loonywitch

Good luck!

Currently awaiting confirmation that contracts have been exchanged for our sale with completion taking place on Friday.

Vendor has proposed 15th for completion for our purchase to which we have agreed