The NEW waiting to exchange thread...

sb29

I am a FTB and my onward chain just collapsed!!


27 Feb - Offer accepted
19 March - Chain completed
22 March - Mortgage applied
2 April - Mortgage approved
29 April - Building survey completed, no major issues
3 May - Conveyancers searches completed and all documents, including contract sent to me to be signed


We were very close to exchange when last week, the EA called me to say that the vendors have decided not to go ahead with their own purchase after seeing the survey report of the property they were buying. They will now look for another property. Further, they are expecting a baby soon!!


I am not sure what to do in this situation. I guess there is nothing much I can do but wait.

mpr87

Well our offer was accepted in Jan, Everything including our searches complete at the start of March and we are still waiting.



I believe some progress is now being made atleast.



I saw the woman we are purchasing from had advertised on a local facebook group asking for someone to come and take all the furniture as they don't need it anymore. We ended up messaging and she was more than happy to leave a lot of the furniture in which will help us massively as we are FTB with nothing so will make it easier to get sorted.



She messaged me to say the hold up seems to be the house they are buying. the "Other" people are ready to move out also but just waiting for some last bits to go through.


That in itself is great but i am massively peeved as we have been told by the Estate Agent in writing that there was no onward chain in the sense that our vendor was moving into an empty property, which clearly isn't the case.

isadora127

Update.
I'm currently on holiday and had hoped to sign contracts before I left but that didn't happen. Lots of emails back and forth whilst I've been away and everything seems to be coming together nicely.

I'm back home on 5th June, appointment to sign contract on 6th and exchange to take place same day with completion on 12th June.

My house is 3/4 ready but I'm now sat by the pool worrying how I'm going to get the rest done in 6 days.

IcePigeon

13th March - First Viewing
16th March - Second Viewing
18th March - Offer accepted
20th March - DiP from Nationwide
29th March - Full application submitted
3rd April - Solicitors instructed
11th April - Valuation took place this morning and mortgage offer sent via text in the evening.
12th April - Searches paid for (advised by solicitors to wait till offer received) and survey booked
16th April - Survey completed
18th April - Survey received (didn’t throw anything up I wasn’t expecting)
30th April - Searches returned
10th May - Leasehold management pack returned
Update:
17th May - LISA funds requested as may take 10 working days to release the funds
24th May - Ground rent and buildings insurance charges provided and completion statement received. Solicitors have requested the mortgage funds from the bank.
28th May - Lisa funds released from my provider and the remainder of the completion statement money sent by bank transfer.

May end up exchanging and completing on the same day (31st May) but hoping to exchange either tomorrow or Thursday. There’s no chain which makes things easier as I’m nervous enough as it is!!!

happyclappy90

I'm loving this thread. It's so nice to read other people's timelines to see how far down the track you all are.
We're still waiting on the searches to come back our our purchase. Our solicitor ordered them just over 2 weeks ago and the company they're using are saying the results won't be back until the end of June!! Our solicitor assures us that the last time they he checked they had bought that date forward considerably (why he can't tell me when is boggling me) but I guess he is hoping he can go "ta da, they're back ahead of schedule". It's just a bit of a waiting game.
We've answered four enquiries about various things and our solicitor says our sale is virtually ready to go. Shame our purchase isn't quite at the same stage!
When the searches come back, how long roughly do you think it could be before we exchange so long as everything is ok in the searches of course?

harkessmd

So we are first time buyers and here is our story so far...
07/01 - Offer accepted
10/01 - Full Mortage Offer
15/01 - Homebuyers Survey Satisfactory
01/04 - Contract Papers Signed (Not Dated)

Then we found out that the top of the chain only applied for grant of probate the start of April and with the current delays this is not looking likely to be granted yet!
Thus, Still waiting to exchange... :think:

Jennifer_Davey

Just moved over from the waiting for mortgage offer thread..

1/4/2019 – Viewed House
24/4/2019 – House on Market
1/5/2019 – House Viewing
6/5/2019 – Sold
7/5/2019 – AIP Obtained
8/5/2019 – Offer accepted on house/ Solicitor instructed
11/5/2019 – Full Mortgage App
22/5/2019 - valuation instructed & further payslips requested
28/5/2019 valuation
29/5/2019 mortgage offer received

We’ve sold to FTB & our vendors are moving to a rental property. Our solicitor and all involved are working towards the first week of July for completion, but we shall see!!:j

septemberbaby

So nervous that we might lose the house we have secured above us.

We have had a 2nd buyer pull out as his wife decided it was too small on Saturday when they came to look at what they might need to do.

Absolutely gutted

FTB_CO

Hello I have just moved over from the "awaiting mortgage decision" post!!

offer accepted 13/05/19
application submitted 15/05/19
valuation booked for 24/05/19
mortgage offer received 28/05/19

Still waiting to receive the sales pack from the seller's solicitors! My solicitor has advised not to go ahead with arranging searches/surveyor until we have received this through. So now it is a waiting game.....

We are FTB buying a probate property!

ka7e

ka7e wrote: »

Buying/selling for the first time in 35 years, so it feels like we're FTBs.


28/1 We accept offer on our house, it's been on the market for 17 weeks and there is a lack of suitable (to us) properties around. Buyers are aware the sale is dependent on us finding a property. They are FTBs with mortgage offer in hand. We want to downsize, but smaller houses are snapped up for BTL due to local conditions. Solicitors engaged.



31/1 Valuation carried out.


11/2 Our ID checks carried out.


22/2 We get a phone call from a surveying firm to arrange a valuation. Checking with our EA, our buyers have been advised to apply for a better mortgage rate and have re-applied with a different lender. We have offered on a property, but it is turned down. Decide to wait on result of 2nd valuation before proceeding.


26/2 2nd valuation.


28/2 We sign contracts and contents paperwork and it is returned to our solicitors.


8/3 Buyers mortgage application has gone to audit. Still awaiting decision. House we previously offered on is now SSTC.


12/3 View a property (empty) that could be a possibility. The EA is aware of our interest, but we don't offer as still no news on our buyer's mortgage.



26/3 Make tentative offer on preferred property, refused, counter-offer, we offer again and it's accepted. Still no news on buyer's mortgage application, other than that their advisor has left the company and it is now being dealt with by a manager. 4 weeks since valuation!


29/3 Buyer's mortgage offer approved.


5/4 Searches authorised for new property.


17/4 Contracts arrive at our solicitors from seller. Our buyers are now chaffing at the bit and chasing our EA - they hoped for an April completion! Are advised it will probably be early June.


Update -


22/5 Search report arrives on our doorstep. No surprises and we have no problems with the findings. Inform solicitors to proceed.


23/5 Our EA phones, he's rather irate as he has been informed that our solicitors have raised 14 inquiries on our new property. None refer to the searches and all could have been raised before the searches were completed. They include proof of POA for the seller's daughter! They hope to have inquiry replies by next week. Their communications with us have been extremely poor - information has only been forthcoming when either my EA or I have phoned for updates. An email link for updates has never been sent to us despite 3 requests. Our buyers are really antsy. Trying to pack and my parcel tape has failed and boxes are audibly popping open. Stressed and fed up!

25/5 (Sat) Contract for onward purchase received and signed - will be handed in on Tues because of Bank Hol. If enquiries are sorted this week, maybe exchange next week?