The NEW waiting to exchange thread...

michaelsft

lumpyspaceprincess wrote: »

We didn't exchange today either, the item outstanding was returned but they need one more last thing now.

It never ends does it! I've had that 'one more thing' said to me so often I feel like I'm at an Apple event.

I've had a little more good news, everyone agrees we can now exchange - the not so good news is that was early this afternoon and... it didn't happen and I didn't hear anything more from my solicitors. I decided to give them till tomorrow at 11am and then I'll be back on the phone...

firsttimeworrywart

Ah, good luck for today both of you. I'll keep everything crossed that you get some good progress.

We finally exchanged yesterday afternoon at around 16:30pm, after a long, difficult, 4 months! Completion date is tomorrow.. I don't feel excited yet because we have so much to do.. but I'm sure once we have the keys and we're in (with a nice strong drink in our hands) we will feel much better

Crumble2018

So we're a month in, and I'm already stressing. We knew the previous buyer of the flat we're buying had dropped out as the chain was taking too long, but we were under the impression that things were moving now. But we've now found out that our vendor's vendor STILL hasn't found another house, and now our vendors are looking around again for other houses. I know most people have to wait for their vendors to find a property, but I hate the uncertainty! I really don't understand these people that move every few years - the stress would finish me off!!!

correll

Hi all, have no internet as yet. But just to let you know we moved last Friday and are happy in our new flat. Will come and have a look at you all after the internet is connected (13th) good luck to those moving soon

yorkie18

Hi all,

So, we didn't get completed last Friday. Despite everyone putting the pressure on our buyer is still not showing much signs of movement a week later! The developer did not put our house on the market, much to our relief and they have given us until the 10th July to exchange and complete.

As it is, we are still waiting for our buyer to get deposit from this transfer of equity so that we can exchange! The last we heard, her ex partner was chasing his financial advisor and solicitor to find out what is happening. That was yesterday morning and we are still no further forward now. We are chasing our estate agents twice a day, and they say they are chasing the buyer, our solicitor is also chasing as is our developer.

What else can we do? I know in the grand scheme of things, we haven't been waiting that long (we reserved our property on the 11th May) but we were supposed to complete on the 28th June and we have no idea how long it is going to take now. We have no thoughts from anyone on a timescale and that's what is making it difficult - the not knowing!

Anybody got any tips on where we go from here?

michaelsft

Really terrible day today, there was no exchange and it turned out that my solicitor was waiting on a final document from my sellers solicitors. It eventually came in at 4pm, too late to exchange by far. Tomorrow in the morning I get my financial statement from my solicitor and then give the official go ahead to exchange. I've been getting upset messages from my buyer asking what the hold up is so I've been on damage control all day while also flying off the handle to the poor estate agent of my seller who has been a real trooper while I go nuts on the phone to him. It's been simply awful. I had plans to go out tonight to the cinema with friends but I can't get this out of my mind and I think if we don't exchange tomorrow I'm gonna feel so much worse - I don't know how I could possibly spin it to my buyer.

We're all agreed to completion on the 11th July and everyone knows that won't be a problem at all but we need to exchange so my buyer is satisfied. At this point it doesn't matter to me if that happens tomorrow or Monday but my buyer is adamant it simply must be tomorrow so we can try to enjoy the weekend and get our affairs and removals in order. I see her point entirely. She's not wrong but she is putting too much stock in it and I think that is her solicitors doing. It's a total mess. We will complete on the 11th but I am absolutely desperate to exchange tomorrow now. It just needs to happen and I'm really worried it won't. I've been going mad all day, I'm emotionally exhausted and drained. I think I need it to exchange tomorrow for my own sanity. I can't imagine going the weekend without it being wrapped up. Desperate is the only word I can use at this point.

I really hate this process, I hate that my buyer can message me whenever and demand action when there's not much I can do. I hate that the solicitors hold all the keys but don't understand the effect it has on their clients half the time. To be fair my solicitor is doing a lot but there's a weird refusal to confirm anything time wise. I was pushing today to say we would exchange tomorrow but I couldn't get any definitive out of her. I'm so done with all this. I won't sleep again tonight. I really just want to cry about it all and I'm at a loss. I don't understand what the problem is.

lumpyspaceprincess

I'm sorry @michaelsft, sounds like a right pain of a day. It's a rubbish process, we have no control and are left bewildered by these alien creatures known as solicitors!


From a buyer perspective - I'm worried that my sale won't complete on the 11th because we've not exchanged yet, and there's so much to do between exchange & completion. We can't arrange anything until the completion date is 'locked in' during exchange really - I'd imagine your buyer is feeling the same as me & mrlsp are.


We're waiting on the same 'just one more thing' still, nothing heard from the sellers solicitors since Tuesday when it was requested (and it has been chased). They could email to confirm they are going to provide the document by completion and then we'd be able to exchange today, I'd love that , but I feel we've got another weekend of stressing ahead, and potentially a change in completion date. It's hideously stressful, both me & the EA (who has been amazing this whole time) are now thoroughly rung out by the whole process. 4 months from offer accept, on a non probate empty property...

lumpyspaceprincess

lumpyspaceprincess wrote: »

We're waiting on the same 'just one more thing' still, nothing heard from the sellers solicitors since Tuesday when it was requested (and it has been chased). They could email to confirm they are going to provide the document by completion and then we'd be able to exchange today, I'd love that , but I feel we've got another weekend of stressing ahead, and potentially a change in completion date. It's hideously stressful, both me & the EA (who has been amazing this whole time) are now thoroughly rung out by the whole process. 4 months from offer accept, on a non probate empty property...

Since earlier today I've had to pay my solicitors a lenders completion fee which they'd not included until now in the total (and we thought they had), so most of our contingency fund is gone. We can't exchange today as the sellers sols won't send the undertaking to provide by completion until they have the form back in their hand, and it ain't back yet. (I don't know if the seller has posted it or not, would hope so)


So I'm now a chunk of cash down, no nearer exchange - but have confirmed with both my solicitors and the vendors side that we are still aiming for completion 11th. So we might end up exchanging Monday / Tuesday and having a very short gap. Doesn't give us a lot of time to sort things out tbh!

michaelsft

Thanks LSP and I'm sorry to hear you're still going through all this mess. I've looked at others completing here and felt jealous and a little annoyed so please forgive me but to offer a ray of hope, we finally exchanged today and to say it's a relief is an understatement.

Wishing you all the best for your move and the same goes for anyone else on here. Harass, chase, demand - do whatever you can to get things sorted. I know for a fact if I hadn't spent a month chasing people all day constantly I still wouldn't be exchanged. It's been hellish frankly.

Yalpsmol

Had some historic lease details througg. All covenants look fine, but turns out there is no parking. Vendors solicitor saying of course no parking (as in "DUh")- the property was advertised as having parking and when viewed we were shown "our" spac! Seller even mentions parking space on the forms they have filled out! Frustrating that they wont admit that was a mistake. Got over that now, though and on to the next frustration of still chasing service charge info.
Seller declined to sort out indemnity insurance for property which we need for mortgage so got to sort that now I believe.

I knew that it might not be a 8-12 week thing as although vacant and FTB the house is leadhold...but I didnt think we would potentially be adding on several months. Not helpful that the person from management company has a lot of holidays....