The NEW waiting to exchange thread...

Yalpsmol

No, we asked before putting our offer in but he didnt know. Asked again after and obviously since then the solicitor has chased as we assumed he would need to know for our mortgage offer. We wanted to know before April 27th but solicitor said that wasnt enough time. 2 months later....

Jen2112

First time buyer attempting to buy an empty property.

31.5 offer accepted
5.06 mortgage application in
6.06 solicitors instructed
Longest wait ever ... well felt like it
21.06 mortgage offer

Right so I need something else to worry about. What can go wrong next?

weallhaveflaws

waiting to exchange and complete..


question...how long before exchange do i need to close my help to buy isa and cash isa. i am using both as part of my deposit.

we were originally meant to exchange on friday but delays on the sellers solicitor side. so im hoping for exchange on the 3rd of july and completion on the 11th. any advice? as i ftb i feel confused at times.

i will be calling my solicitor tomorrow but felt no hard in asking here.

michaelsft

Hi all, I'm in the process of selling my flat (to a FTB) and purchasing a new flat (from someone with no onward purchase) and like so many on here, it's been a very stressful time. Both my sale and purchase were agreed mid-March and while I do believe we're getting closer, it's taken significant arm twisting on a daily basis for the last few weeks. If I had to offer one piece of advice to people reading this, it's to never let up on anyone, especially your solicitors but also the estate agent who you're buying from. I feel happy that I went with a dedicated mortgage broker rather than letting my solicitor do it as solicitors don't act fast unless pushed very hard to do so (they have a lot of clients at any given time and can't prioritise people as they might want to); my mortgage broker though sorted my application and approval of it in less than two weeks. He's a legend.

Throughout the whole solicitor process, the only person I've been able to count on at all is the sellers estate agent who wants his sale big time. The last two/three weeks though I've been joined in applying pressure by the seller of my new flat (who is also as stressed as I am for personal reasons) and the purchaser of my current flat whose lease is close to running out and is scared of having nowhere to go. That has been a double edged sword in some respects though as I am personally feeling the pressure on her behalf. It's rough and like many I have developed a hatred of weekends and bank holidays. What a shambles that is.

We are all hopeful of completing on the 10th, 11th or 12th July at the latest and as things stand there are three seemingly small enquiries to be resolved on my purchase and one potentially big one on my sale. An illegible deed from the 1800s that my solicitor thinks is not a problem and my buyers solicitor has decided is the be all and end all. I will not doubt end up paying out hundreds extra for this (I've heard horror stories of up to £800 for this policy - yikes) but I think right now if the buyers solicitor won't give up then I'll end up doing it and spending money I can't really afford

In order to complete by those dates, I feel we need to exchange by the 1st/2nd/3rd July so we can organise removals and ensure the solicitors have time to deal with everything. That means 5-8 days of just hammering everyone involved to finalise things. To complicate things a little, I'm going to Glastonbury so will be away from my computer and home from Wednesday till Friday but at least I can still call people each day and shout at them for not finishing things yet! I just wish I could go and enjoy my time there but I know I'll just spend the entire time worrying about all this which won't be any fun. It's all consuming though so no matter how many times people say not to worry, it really is all you can do.

I'm posting here because I've spent another weekend stressing out, with nothing to do except wait until 9am tomorrow and I guess I just wanted to shout out into the world rather than keep bothering my friends about this. I feel terrible about that as I know people have much worse problems in life to deal with and here I am whinging and moaning and stressing like crazy about this. I have emails to my solicitor and her assistant lined up on my computer right now, ready to send when I wake up and I'll be then calling to follow up at 10am so i can report back to the estate agent who will contact my seller and ask her to call her solicitors to have another go at them. A week ago we had eighteen outstanding enquiries on my purchase - a week of shouting and I believe we're down to three. Another week of shouting and maybe I'll hear the magical words... 'we're ready to exchange now...' Fingers crossed I guess.

Thanks for reading while I vent. if anyone has any stories about illegible deeds then I'd be happy to read about them.
M

correll

@michaelsft I'm sorry I can't tell you anything about illegible deeds, but I feel your pain and hope you get good news next week

michaelsft

@correll Hi there, I've seen you've been all over this thread for a while now so I totally believe you when you say you understand and I hope things go smoothly for you as well!

It's so tough when you put a deadline in your head and it just sails past. I'm so determined not to let that keep happening as there really is no good reason for it anymore, it's a relatively straightforward sale/purchase in reality and they've had long enough. Tomorrow morning there will be fireworks in this home...

Yalpsmol

Close your Help to Buy ISA ASAP! I closed mine but the bank messed up so I had to go through a complaints procedure to get my balance reinstated and then the balance had to be there for 48 hours before they could close it again. All in all even though the complaints process was actually very swift it tool over 3 weeks to get my statement. Have heard of banks taking even longer.
No point having the statement too late as your money cant be claimed after completion.

latte19

Hi guys, joining the queue for completion. I exchange tomorrow and move in on 4th July.

It’s been a rollercoaster ride.

Feb - viewed house
Mar/Apr - offer negotiation / 2 mortgage refusals
May - finally mortgage confirmed after jumping through a few hoops
House survey showed 2 issues needing dealt with which delayed a further 3 weeks.
June - Signing up tomorrow
July - Completion hopefully 4th July

Never moving again.... lol

Albala

Jen2112 wrote: »

First time buyer attempting to buy an empty property.

31.5 offer accepted
5.06 mortgage application in
6.06 solicitors instructed
Longest wait ever ... well felt like it
21.06 mortgage offer

Right so I need something else to worry about. What can go wrong next?

Survey..:o

rococomaiden

16th May - Offer accepted
23rd May - bank valuation 35k under, back to the drawing board! Probably a blessing in disguise as there was water damage to fix.
3rd June - Offer accepted on different property
19th June - valuation successful, mortgage offer received, searches underway
...2nd July - Survey date

There is no chain and the owner has already moved out (to spain!) so do you think a move-in date of mid August is feasible?