The NEW waiting to exchange thread...

ftb2019

ftb2019 wrote: »

Wanted to add my timeline in here
2 x first time buyers buying a new build off plan!
Estimated completion date of December/January.

8/06 - visited FTB event
9/06 - viewed show home/site
15/06 - reserved our home off plan
17/06 - instructed solicitors we had lined up.

Current timeline is roughly 28 days - 6 weeks to exchange, then 5/6 months to complete - property due to be completed by Dec/Jan.
So excited at the moment but I feel we'll only get more and more impatient as time goes by!

Updated timeline!
12/07/19 - Halifax Valuation took place - property is at correct market value so we can proceed absolutely fine.
18/07/19 - Booked our options meeting for 28/07/19 - intend on fully upgrading kitchen and doing everything else ourselves (flooring/carpets/tiling)
Due to exchange by the 26th July - everything is on track for then! :T

Alacia1988

We are supposed to be exchanging today with a completion date of 26th.... just waiting on my sellers seller to agree! Fingers crossed it happens today! All in all I’ve waited 11 months for this day!!!

fluffy123

Well, I'm joining in here as ours has become a mess.

In a chain of six, was due to complete next Friday (26th) and exchange last week to facilitate this, all agreed by all parties about 3/4 weeks ago.

Last Thursday came and our vendors solicitor informed our solicitor that they hadn't sent the contracts out yet to be signed and therefore, needed to wait until Monday. Monday passed and our solicitor recontacted the solicitor again to be told that they were completing final checks of all documentation and would revert back, they've kept saying this.

Finally, it reached a head last night as our removal companies (We had three quoted) are now not available on the 26th as it's too late. I informed the EA that we had a problem now and they got in touch with the vendors solicitor to be told that they were missing documentation linked to a gift deposit.

Therefore, we're all in limbo now due to the vendors solicitors incompetence and I'm not sure how we progress from here as even if miracuously, it could be turned round in super fast time, our options for removal companies are narrow.

Alacia1988

Got the email asking for authority to exchange

1 minute later my buyers solicitor emailed saying I can’t exchange today but can agree to complete next Friday! No reason offered ����!♀️

zoot_ze

Posted here for the first time at the start of May to say I'd had an offer accepted, that seems like just yesterday! But today we got the news that the lender has transferred the money to our solicitor so we're all go for completion on Monday! Or actually, Mr Zoot is all go... I'm going to be in France when he gets the keys

Went a bit crazy with online shopping last night and bought a really nice matching microwave, kettle and toaster set that's a bit more than we wanted to spend but is just a start to making this big empty flat a home. Still not got a couch but we're working on it!

It's been a pretty bizarre experience buying my first home but I've learned a lot and seeking information about mortgages and the whole process has let me to these forums, and I've now got a huge spreadsheet with all my overpayment and savings goals, spending tracker, etc.
Good luck to everyone else on here waiting on exchange/completion! :beer:

excelwizard

Officially waiting to exchange now - mortgage offer received today hurrah!

zoot_ze I've learned so much from these forums too and it's been absolutely invaluable up to now - the only reason I'm managing this process well is because of the wealth of knowledge on this site

flosaw9

flosaw9 wrote: »

Hi

I have been lurking on this thread for a while. I thought I would join the forum and add my timeline:

24/04 Offer accepted on property
29/04 mortgage application started
01/05 solicitor Instructed
08/05 home buyer's survey completed
09/05 Mortgage offer received
17/05 draft contracts received
18/05 searches applied for
24/05 search results received
11/06 Enquiries made

Now i'm just waiting for exchange but it seems as though everything has gone quiet. I am a first time buyer moving into an empty property so I would expect things to be quite quick.

At the moment there is no set date for completion and my solicitor does not provide me with updates. It is so frustrating as I send emails every 3-4 days to get an update from my solicitor and I receive no response. I don't know what to do to speed up the process and get everything finalised.

After a couple of weeks of chasing both the estate agent and my solicitor, I have finally got a response. The seller is apparently ready to proceed with exchange but is waiting for my solicitor to get final confirmation from the leaseholder that all is ok.

I'm a bit annoyed because my solicitor has been telling me there is nothing left to do on his side for the past few weeks! I'm now just hoping that the leaseholder responds quickly and we can exchange soon.

Slinky

We completed yesterday. Hoorah!

Dave_606

Alacia1988 wrote: »

That’s what held us up Dave. Our enquires were sent back on the 1st July, however they failed to ask me as the seller about the idemnity. Ours is £108....which I am more than happy to cover. It took until the 12th for me to find out they were waiting for this.
We are supposed to be exchanging tomorrow but I’ve not heard anything yet to suggest it will be going ahead as apparently we are still waiting for the banks legal team to approve our responses to the enquiries.

Amazing how little things can cause such long delays.

Yes, but with us I called our solicitors about the 11th to enquire on the status of the enquiries, which by that point had been a little over 2 weeks since enquiries were raise and they claimed they had not had any responses back (yet the enquiries results from sellers were dated 3rd July). But funny enough the very next morning I suddenly get an email on the 12th saying they have now received the responses and that they had dictated a letter to be sent to me detailing things and would be sent out. I never received the responses initially and sent an email enquiring on if they had been sent on 17th (which as with others went unanswered). Yet again things turn up in the post the next day (18th), letter dated 17th so was never sent last week when claimed.

Noting the without obvious reason delays and my having (shouldn't have to) to keep chasing things up and the sellers asking the start of the month about getting us to exchange and complete I call to clarify a few minor points on 18th and to ask them to get on with it and get an exchange sorted to get the usual solicitor isn't at their desk, take number & call back etc, which as per usual I never get the call back and neither have I had a reply to the email sent on 18th either!.

I'm now starting to feel what the hell am I paying these people for when they are causing delays by sitting on responses they have had for some time, don't respond to emails, are not available when I call them and never get the call backs. Added to that the solicitors were told a month ago after the enquiries were first sent out that we had a preferred 2 week window to exchange & complete due to pre booked leave from work. And they assured me they would try to push things on (last month) to meet that if they could. But all I can see is 3 weeks of needless delays from our solicitors, sellers who were asking about exchange and completion the start of the month which means we have next to no chance of ever completing by the end of that 2 week annual leave window which starts on Monday!.

nattybuk

Well we have officially exchanged contracts!

12/7 - mortage offer on the 12th
19/7 - exchanged
9/08 - complete

We wanted to get the contracts sorted ASAP as the seller kept texting me wanting to change the completion date, which was the fourth time within 30 days. Now we can rest easy.