The NEW waiting to exchange thread...

_Kate

_Kate wrote: »

First post but long time reader!

We're first time buyers, and after dreaming about this for a long time, we're finally getting started! Very early on in the process, but timescale so far is as follows:

06/07: First viewing
08/07: Second viewing and offer put in
09/07: Offer rejected; we upped it, they counter-offered and we accepted.
10/07: Estate agent confirmed we were in agreement. First mini milestone reached!
10/07: Mortgage application sent in to Nationwide (via broker), solicitor instructed.

And now we wait! Our vendors still need to find a house so that's the only thing that might slow us down (in that I think things - touch wood - will be quite straightforward from our end). They have a second viewing on a property with no chain on Monday, so fingers crossed they go for that one.

15/07: Mortgage appplication accepted by Nationwide, documents requested (proof of deposit).
16/07: Email from estate agents - vendors have had an offer accepted on the house they liked, with no onward chain :j
16/07: Valuation booked for the 19th.
17/07: Solicitor orders searches. Is there a rough timeframe we can expect to get these back, does anyone know? Or does it vary wildly?
19/07: Valuation takes place and one minute (seriously!) after getting the text confirming it had been done, we got our formal mortgage offer! Nationwide are SPEEDY.
20/07: Emailed local surveyor about booking a survey - just waiting for this to be confirmed now.

Ours is going quite smoothly so far - I'm still very scared it's all going to go pear-shaped, feel like I daren't let myself get excited! Anyone else feel the same?

Alacia1988

My brain officially hurts!!!

So our buyers bank apparently demanded completion today and no extension on the mortgage offer?!?!

As luck would have it... our property is empty and good to go!

But....the bank cannot release funds that quickly!?!? Whaaaaat?!

Apparently they’ve now said we can complete Thursday.....emotionally drained! And so confused!

nicksfustration

“
So, been lurking on this feed for longer than i care to admit, to give myself both hope and peace of mind that im not the only one that feels like the process takes FOREVER!
My current timeline is below with a little background.

FTB here
So i found a flat accidentally, after viewing a flat i liked i bumped into someone in the building to get some 'impartial' feedback on the building etc. little did i know his friend was selling hers on a higher floor!
So we looked around (fell in love) and 1 week later and 2 viewings later made an offer! - This was back at the end of March.

To save us all some hefty estate agent fees and so she would accept our lower offer, we had to wait until her contract with the estate agent ran out - was about 6 weeks but felt like forever.
During this time we applied for the full mortgage got approved subject to valuation and had solicitor lined up!

Come the 16th May - offer accepted by seller, solicitors officially instructed
18th May - Bank valuation
20th May - Mortgage offer fully approved
30th May - find out that my lawyers haven't even contacted the seller's solicitors yet, despite telling me they had!! FUMING
4th June - chase solicitors to find out if they have received sellers documents to find out they had days ago, but hadn't noticed!
4th June - order searches to be carried out
10th June - solicitor asks for permission to order searches - to say i was annoyed is a gross understatement! delayed a week for literally no reason!
17th June - solicitors tell me that they wont do any contract checks until they receive all the searches back (seems mad - is this standard?)
21st June - search results received by solicitor (obviously emails be at 5:59 on a Friday LOL)
24th June - call them twice and email them twice to recieve an update as i have just found out my seller is on holiday for the second half of July so need things to wrap up before then or will be waiting a lifetime - they don't respond to me - obviously.

FYI - we are FTB and she is moving into a partners place so no chain at all when appreciating these timelines!

I would like to be able to exchange next week - and complete the week after - is this at all likely (if i had half decent lawyers)

Are others lawyers this slow/incompetent? they were recommended by the lender and have all the right trusted awards and great reviews online, so how was i supposed to tell they would drag their feet so much!!

Sorry for the rant, been lurking for a while and just wanted some reassurance that this wont be going on and on and on forever!
Originally posted by nicksfustration
”
STILL WAITING...

We are now at the stage where we have received most of the replies to our solicitors enquiries and just waiting on a few little things.

The one thing that I am most concerned is taking time is our Seller has a car parking space that she is selling separately as we didn't want and couldn't afford, but is therefore having to separate the lease as it currently includes the car parking space. We are still awaiting formal permission from the freeholder to be able to do this.
Has anyone been through something like this before?
All this waiting is truly making me go absolutely crazy! it feels like i have been waiting for this house forever!!
I am at the point where i am no longer excited, but will just be relieved once we have it sorted!



________________UPDATE___________________________________________

I am speaking to the seller today and she says her side should be ready to exchange by the end of the day, so likely tomorrow!
I go to call my solicitor to check that she is on the same page as (above) she isnt great at communicating with me anyway. No answer to my phone call so i send a follow up email and i receive an OUT OF OFFICE that says she is away for the next 2 WEEKS!!!!!
I completely understand that she has holidays etc, but she did not inform me at all that she was going away and for 2 weeks at a time when she knows we are looking to complete, am i mad to think that she should at least inform me that she is going away!?!?!?!?! I dont know if she has even handed the case to someone else as i called the main line and they "are following up with the relevant team" in that they have no bloody clue either by the sounds of it!

Could they get any more unprofessional!!

Caitykinss

11/06 - Offer accepted
12/06 - Full mortgage application started
13/06 - Solicitor instructed
24/06 - Formal introductory meeting with solicitor
25/06 - Valuation carried out
26/06 - Valuation report received
29/06 - Mortgage offer received in post
01/07 - Initial report and all documentation received from solicitor and enquiries raised by them sent to sellers solicitor
02/07 - Instructed solicitor to get on with searches
08/07 - Received a response to 1/10 of the enquiries raised.
10/07 - Search results received from solicitor and all looks fine overall
15/07 - Decided I'm being stupid not having a survey done, will instruct one today.
16/07 - Received all but 1 of the solicitors enquiries back
17/07 - Homebuyers survey carried out. my partner went with him and nothing was flagged up that we didn't know about. Just waiting for the proper report now, due by Wednesday.

We're just waiting for one enquiry back from the seller's solicitor now and then we'll be ready to go. We spoke to our solicitor on Friday and she was estimating potential exchange on 9th August, but I think that's too far away. As long as the seller and their solicitor pull their finger out, there's no reason we can't be ready by the end of the week in my opinion. We've told her we'd like to complete around two weeks after exchange, as the seller has agreed to fix a few faults during this time. I'm hoping completion on 9th August is more likely than exchange on that date. I'm just itching to get in now. I want to start packing and ordering new furniture but don't want to risk it yet.

Dave_606

Spoke to our solicitor yesterday and eventually got to speak to them instead of the secretary who seems never to pass on the message to call back. Anyways, we have an exchange & completion date for 30th, next Tuesday. Only thing they need is the closing ISA statement \ balance to claim the 25% bonus and we should be sorted.

clarecooper90

I found this thread after searching into lease problems online and hoping Land Registry can give some advice?
I excepted an offer and was given a completion date of the 5th July. All seemed to be going well until my estate agent phoned to advise that the lease at land registry stated i own only 8o% of the property and that i must contact the council if I wish to sell....this is not the correct lease and after sending the lease I have my solicitor then contacted the solicitor I used back when I bought the property (10 years ago). They have admitted they sent the wrong lease to land registry but now I am in limbo as they are blaming the developers solicitor. How long does it take to amend a lease held at land registry? Whilst i'm waiting for this I am accruing more costs, worrying that my buyer may pull out. I really need it fixed fast but I have no idea how long the process takes?

Alacia1988

So spoke to my solicitor today....
Our buyers still want our house, still want to complete on Thursday. Bank have verbally confirmed they will release the funds for Thursday.... buyers solicitor won’t exchange as he hasn’t got confirmation in writing from the bank .... which means we could potentially be looking at exchange and completion on the same day ��
If it doesn’t happen Thursday it can’t happen apparently as the buyers Islamic mortgage cannot be extended! Stressed is an understatement

Slinky

nicksfustration wrote: »

“
So, been lurking on this feed for longer than i care to admit, to give myself both hope and peace of mind that im not the only one that feels like the process takes FOREVER!
My current timeline is below with a little background.

FTB here
So i found a flat accidentally, after viewing a flat i liked i bumped into someone in the building to get some 'impartial' feedback on the building etc. little did i know his friend was selling hers on a higher floor!
So we looked around (fell in love) and 1 week later and 2 viewings later made an offer! - This was back at the end of March.

To save us all some hefty estate agent fees and so she would accept our lower offer, we had to wait until her contract with the estate agent ran out - was about 6 weeks but felt like forever.
During this time we applied for the full mortgage got approved subject to valuation and had solicitor lined up!

Come the 16th May - offer accepted by seller, solicitors officially instructed
18th May - Bank valuation
20th May - Mortgage offer fully approved
30th May - find out that my lawyers haven't even contacted the seller's solicitors yet, despite telling me they had!! FUMING
4th June - chase solicitors to find out if they have received sellers documents to find out they had days ago, but hadn't noticed!
4th June - order searches to be carried out
10th June - solicitor asks for permission to order searches - to say i was annoyed is a gross understatement! delayed a week for literally no reason!
17th June - solicitors tell me that they wont do any contract checks until they receive all the searches back (seems mad - is this standard?)
21st June - search results received by solicitor (obviously emails be at 5:59 on a Friday LOL)
24th June - call them twice and email them twice to recieve an update as i have just found out my seller is on holiday for the second half of July so need things to wrap up before then or will be waiting a lifetime - they don't respond to me - obviously.

FYI - we are FTB and she is moving into a partners place so no chain at all when appreciating these timelines!

I would like to be able to exchange next week - and complete the week after - is this at all likely (if i had half decent lawyers)

Are others lawyers this slow/incompetent? they were recommended by the lender and have all the right trusted awards and great reviews online, so how was i supposed to tell they would drag their feet so much!!

Sorry for the rant, been lurking for a while and just wanted some reassurance that this wont be going on and on and on forever!
Originally posted by nicksfustration
”
STILL WAITING...

We are now at the stage where we have received most of the replies to our solicitors enquiries and just waiting on a few little things.

The one thing that I am most concerned is taking time is our Seller has a car parking space that she is selling separately as we didn't want and couldn't afford, but is therefore having to separate the lease as it currently includes the car parking space. We are still awaiting formal permission from the freeholder to be able to do this.
Has anyone been through something like this before?
All this waiting is truly making me go absolutely crazy! it feels like i have been waiting for this house forever!!
I am at the point where i am no longer excited, but will just be relieved once we have it sorted!



________________UPDATE___________________________________________

I am speaking to the seller today and she says her side should be ready to exchange by the end of the day, so likely tomorrow!
I go to call my solicitor to check that she is on the same page as (above) she isnt great at communicating with me anyway. No answer to my phone call so i send a follow up email and i receive an OUT OF OFFICE that says she is away for the next 2 WEEKS!!!!!
I completely understand that she has holidays etc, but she did not inform me at all that she was going away and for 2 weeks at a time when she knows we are looking to complete, am i mad to think that she should at least inform me that she is going away!?!?!?!?! I dont know if she has even handed the case to someone else as i called the main line and they "are following up with the relevant team" in that they have no bloody clue either by the sounds of it!

Could they get any more unprofessional!!

I fear you are making a huge mistake not buying that parking space. You may not want to use it, but you're making your flat a lot less attractive to a futuer buyer. You're setting yourself up for problems in the future.

nicksfustration

Slinky - i understand your point, but it was never on offer to us firstly, and she is selling it for 40k (plus £30 monthly service charge) which we most certainly don't have. Also the flat is in a fairly central London location near both tube and DLR so i dont think not having a car in a 1 bedroom flat should cause any real issues down the line.

edrushuk

OMG please save me from Purple Bricks solicitors. We have just been told that our seller will not be able to complete for another 4-6 weeks this is after they accepted our offer at the beginning of APRIL!!!!! They claim they have been waiting for the buyer to send them their fees ( I thought any fees were taken once completed) so they have done nothing over the last 4 months . The seller said he had not been told about the fee until last week when we were chasing them to respond to our solicitors questions. We have had to chase them every step of the way, it has been so frustrating. This is straightforward transaction, no chains on either side. We were suppose to be going on holiday in the 3rd week of August and the mortgage runs out on the last day of August . Nothing I can do except hope that our solicitors can exert some pressure on them. . I will never have anything to do with purple bricks again and encourage my friends not to. I had read all the stories on this page and though I was prepared. My hubby thought it would be done in 4-6 weeks. Sorry I just needed to vent or I would cry.