The NEW waiting to exchange thread...

correll

I am the same. Even if they said 'it will be July' at least you would know instead of every week thinking 'will this week be it' and being depressed every weekend:mad:

correll

It is dreadful, just waiting. Even when you ask, the answer is not usually helpful!!

septemberbaby

Cant believe I am typing this but we were probably 1 week away from exchanging contracts when our buyer decided to pull out. He didnt notify the EA he just got his solicitor to write to ours and say no longer proceeding. Gutted isnt the word.

We had our house all sorted and our vendor was moving at the same pace as us.. it was all looking great.

I dont know what to think from here. i really dont know what to think. Unfortunately our EA was off today and is back in tomorrow so we havent even had that opportunity to discuss what we do from here. Anyone been here and whats the situation. Our house had huge interest first time around so we are confident it will sell fast but of course then we have to wait on who ever buys this to go through with their proceedings. One of the horror stories i suppose. all reassurance comments very welcome and realistic ones too.

A very sad little lady tonight ... looks like the champers will be reshelved again!!!

correll

I have been there. Our buyer lost his job and strung us along for a MONTH before telling us.
Like you, we had had a lot of interest, so the day after we told our vendor and asked her to wait whilst we put it back on the market.

She agreed to wait 4 weeks for us to get another buyer.
The day we put it back on the market a guy who had viewed before put in an offer and we accepted it..
I hope your vendor will wait for you:)

septemberbaby

correll wrote: »

I have been there. Our buyer lost his job and strung us along for a MONTH before telling us.
Like you, we had had a lot of interest, so the day after we told our vendor and asked her to wait whilst we put it back on the market.

She agreed to wait 4 weeks for us to get another buyer.
The day we put it back on the market a guy who had viewed before put in an offer. and we accepted it..
I hope your vendor will wait for you:)

Thank you for your reply... i do feel a little better even reading just one reply.
I really hope we can know by tomorrow evening what we can do or where we are at

we have thought about the impact of maybe remortgaging our house and keeping it as a rental maybe but that is probably more financial commitment than we first calculated

KAT85

Hi

Not sure if this is the right thread to post on but was looking for some advice.

Our exchange date was 8th March so we are now well overdue but there have been delays with the sale of our flat due to a defective lease that we need a Deed of Variation on. This has all been signed by us and is now with the Freeholder to sign and obtain consent from their Lender which they have said may take 2-4 weeks. That is literally all we are waiting on and then we are ready to exchange on the sale and purchase.

The Developer has given us a deadline of this Friday and said that they want the contracts back if it doesn’t happen - which it won’t as we still need the consent from our Freeholder’s Lender.

We are literally weeks away from being good to go but the developer is adamant they want the contracts back.

If they decide to remarket are we able to re-reserve the plot and then start the clock again? As far as I can tell if we do that we will just need to pay another reservation fee and engrossment fee for a new contract as we have everything else for the plot (mortgage offer/searches etc) but do the developer have to accept our reservation.

We are so so close it seems insane that they want to pull the contract and remarket!

TIA for the advice

correll

Septemberbaby

Don't give up hope, it will turn out for the best. We found a flat we loved and thought was perfect and the buyer pulled out. The one we have now is better and cheaper.
We were like you, having to wait to speak to EA. I'm sure you will feel better after speaking to them

correll

Kat85
I don't know about the plot situation, but years ago a friend of mine had to get a bridging loan to allow her to exchange on a new property before her house sold. She said it was expensive, but allowed her to get the new home she wanted

Kodagirl

Septemberbaby, I have nothing constructive to say unfortunately except, bless your heart, sending a massive hug. ��

klew356

now that i know i can get the mortgage, this is when the middle of the night wake ups have started! survey next i think i will feel better after getting this back