The NEW waiting to exchange thread...

SimbaSimon

Can I join you all in your frustrations? It's only been about 8 weeks so far from offer, but it feels like a life time. Purchasing a semi detached townhouse. House approx 5 years old. Small chain of our buyer, us selling and buying, and our seller.

April 23rd - Mortgage AIP received from adviser..
April 25th - Boiler certified as originally installer didn't.
April 26th - EPC done. Photos done. Our sale went live online.
April 27th - 2 Viewings on ours by EA.
April 29th - Full offer received. House SSTC. Further 3 viewings cancelled.
1st May - View house. GF loves it, I love the area.
2nd May - Offer put in. First rejected, second accepted.
4th May - Mortgage adviser gets AIP from Nationwide and is okay to port existing mortgage
7th May - ID certified for solicitor. Property information forms etc sent for our sale.
9th May - Mortgage application submitted. Valuation booked.
10th May - Mortgage valuation carried out.
13th May - Valuation received
14th May - Home buyer survey forms submitted.
16th May - Home buyer survey received.
16th May - Solicitor requests further details for house sale.
17th May - Details sent to solicitor.
20th May - Mortgage offer received.
23rd May - Second viewing on our purchase
28th May - Searches returned from solicitor
28th May - Second viewing on our sale from buyer
3rd June - House purchase management pack received as estate is unadopted
6th June - Finally received the boiler certificate
6th June - Signed contract, deed of trust and other paperwork
10th June - Chase exchange and completion date.
12th June - 20th June is proposed completion date.
14th June - No exchange of contracts yet. 20th Looks unlikely.
17th June - Buyer hasn't got cash yet. 20th is scrapped.
19th June - Buyer is expecting cheque to clear next week. Grr!

Writing that out I can see why me and the other half are tired and stressed and that is with missing minor bits off. I will say we've been lucky with my house selling so quick. Nationwide were pretty amazing getting their valuation and offer done so quickly, and both solicitor and mortgage adviser have been pretty great. Now just waiting for our 'cash' buyer to actually have the cash and we are ready. Most the house is packed up already too. Supposedly the cash is coming from a separation and I'm guessing the other party is dragging it out. I still can't get over the fact they are sending funds via a cheque though, infuriating!

correll

@Simbak2k. That seems a good timeline. Our first buyer backed out and we got a new buyer on 1st April. He was supposed to be a 'cash buyer' - EA saw his proof of funds. Our vendor waited for us - so we thought it would be through within 6-8 weeks. Unfortunately, he decided to get a mortgage in May when all the searches and enquiries were completed. This week we were told that his mortgage offer is in place and that his solicitor should have the documentation in a 'couple of days!' Still no date for exchange or completion. Our solicitor has suggested the 28th June as a completion date (no reply from his solicitor) It has been a nightmare and we have vowed we are NEVER moving again!!

lumpyspaceprincess

An update! We've got indemnities stuff sorted and received the property report today... Guess what my conveyancers have not attached? The flipping invoice / finance statement! Instead they've attached two files both called invoice, which are duplicate scans of other things such as electrical info. !!!!!!!

I'll be back on to them first thing, after dropping an email in tonight, if we can get that we could return this and maybe exchange next week! How they have managed to miss their own fees, I dunno!

DrSpendLittle

I found that the Law Society Conveyancing Protocol really helped me better understand the Waiting To Exchange Game

It gives you a detailed breakdown of every step of conveyancing process and is structured around 6 key stages - instructions; pre-exchange; prior to exchange; exchange; completion; post-completion.

We're straddling pages 18-19 for ours (prior to exchange).

correll

@DrSpendLittle if only they could tell us how long we would stay on pages 18-19!!
@lumpyspace it is no wonder it takes so long! Monkeys and typewriters spring to mind Hope you get exchange next week

lumpyspaceprincess

We've scanned and returned the last of the pre exchange paperwork, the solicitors bill should be with us tomorrow too.

They are just chasing the sellers sols who are trying to get us to go halves on one of the indemnity policies, they don't believe we should be paying for it certainly not after the fact and I'm inclined to agree! Hopefully not too much in the way to delay exchange now, though next week may be a bit of wishful thinking!

Amoux

We are FTBs waiting to exchange/complete. Everything on our end is done and we are ready to go. (Surveys, mortgage offer, searches, draft contracts, enquiries, deposit sent to solicitor etc)

So imagine my surprise to hear that the sellers are waiting for their survey results on their purchase today before they can proceed to exchange. It's been 3 months... Is this normal to have a survey so late and so close to exchange? The survey was one of the first things we did, and the estate agents made it a condition that we book the survey in the first 2 weeks of the offer being accepted. Having a survey early meant we could resolve issues in a timely manner, and our solicitors could make the necessary legal enquiries (as advised in the survey). The enquires took about a month (if not more) to resolve...

I know we are probably worrying over nothing, but we are now at higher risk of things being delayed or if the survey is a complete disaster a risk of them pulling out altogether!

harkessmd

Amoux wrote: »

We are FTBs waiting to exchange/complete. Everything on our end is done and we are ready to go. (Surveys, mortgage offer, searches, draft contracts, enquiries, deposit sent to solicitor etc)

So imagine my surprise to hear that the sellers are waiting for their survey results on their purchase today before they can proceed to exchange. It's been 3 months... Is this normal to have a survey so late and so close to exchange? The survey was one of the first things we did, and the estate agents made it a condition that we book the survey in the first 2 weeks of the offer being accepted. Having a survey early meant we could resolve issues in a timely manner, and our solicitors could make the necessary legal enquiries (as advised in the survey). The enquires took about a month (if not more) to resolve...

I know we are probably worrying over nothing, but we are now at higher risk of things being delayed or if the survey is a complete disaster a risk of them pulling out altogether!

@Amoux unfortunately you will have to ride it out if you really want this house! all of our stuff to the same level as yours in march, we have just exchanged. You may be ready but this does not in any way mean that any/every one else in your chain is ready.

It is nerve racking and it is annoying but just hold it out and be patient!

letThemPlay

Exchanged yesterday, completion July 2nd. :j:j:j
Good luck to every still waiting; it will be worth it in the end.

correll

@letThemPlay. Great news. Good luck in your new home