The NEW waiting to exchange thread...

excelwizard

A frustrating day here but it helps to see others exchanging and completing.

It's been four weeks since the offer was accepted and our solicitors haven't had the title deeds to start the searches yet. I've been ringing today to find out both solicitors are saying they're waiting to hear from the other one *eye roll*. The fact that nothing has moved on in a month is a little disheartening.

I'm in contact with the vendor directly but am already feeling anxious about emailing him too much. I had been doing well with my anxiety up until this point but we've got a really short window until we need to be out of our rental and I just don't think it's all going to get done in time.

Frustrating is certainly going to my most used word over the next lord knows how many weeks.

flosaw9

A completion date of 9th August has been proposed and I'm hoping to exchange on 2nd August.

The only thing we are waiting for is information regarding service charge in arrears from the previous owner. The property is a repossession and we want to ensure that outstanding service charge is covered before completion.

We are yet to hear back from the vendors though and it's making me very anxious. I really don't want this to cause any delays.

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.
25/07 - Homebuyers report received and nothing major on there that we didn't know about

Update: Final outstanding enquiry is half sorted - we just need the original building regs certificate from the council now. We spoke to the solicitor today and have tentatively put forward a completion date of 9th August, so have just over a week to sort everything and exchange. We need to hand our notice in on our flat on the 12th at the latest to avoid paying September's rent, and annoyingly my car insurance is due for renewal on the 10th so would like to just set it up with the new address to save faffing around. Fingers crossed it will all fall into place and exchange can happen at the end of this week and I can finally start packing over the weekend.

marianiamh

marianiamh wrote: »

Hi

Stumbled across this forum whilst googling how to get over the waiting to exchange period 😂

Our timeline is as follows:

8th July - Offer Accepted
9th July - Solicitors Instructed
12th July - New AIP as last one was for less borrowing
18th July - All documents sent to MA
19th July - Call to say Survey Booked for 22nd
22nd July - Valuation Survey carried out
22nd July - Text to say mortgage approved subject to valuation
25th July - All documents returned to solicitor and payment made for initial searches

Our vendors are divorcing and we just found out last week that they apparently cannot complete until October - something to do with their current mortgage I think!?

They are happy to exchange quickly though but it’s so frustrating waiting - especially when the property is going to be empty from next month and we have no chain!

I emailed my solicitor on Monday to ask what happens now and when I should expect some kind of update.

I also emailed the EA to ask if I could have another viewing (they suggested last week that it would be good to meet the vendors) I have had no response from either of them. Do you think it’s unreasonable of me to call and chase up? Mindful that I’m not the most patient person in the world!

plantqueen

Our timeline so far:

18/6 - First viewing
19/6 - Second viewing
20/6 - Offer made
21/6 - Offer declined. Seller wants to wait until other viewings completed.
22/6 - Second offer made and accepted!
24/6 - Solicitor instructed.
4/07 - Mortgage application sent.
9/07 - Mortgage offer received!
10/7 - Survey completed.
20/7 - Damp & timber survey done (no issues)
23/7 - EICR flags full rewire needed which was not expected.
1/08 - Reduced purchase price agreed in light of above.

Today I’m posting all the paperwork with signed contracts and deeds. Sols awaiting some enquiries from sellers sols. After that I’m going to ask for a rough exchange date. Fingers crossed it all goes smoothly. Went and saw the house again yesterday and felt bigger than what I remember despite an overcast day. I’m so excited to get going!

EmKnox

The first part of our application happened really fast as we had already applied for a mortgage on a different property before accidentally coming across a better one and withdrawing! So our mortgage advisor at Halifax and our solicitors already had a lot of our details so the ball started rolling quite quickly.


Unfortunately we hit delays further down the line and are still waiting to exchange, although the estate agent has let us know our vendors finally have their contracts to sign so hopefully within the next week we will have more of an idea of exchange! I have been getting more and more anxious about this whole process as it's our first time buying and I really didn't anticipate it to last over four months seeing as there is no chain on either side!


14/04 - First viewing
14/04 - Offer made
15/04 - Offer accepted
17/04 - Mortgage application put through and approved over the phone
23/04 - Survey completed
29/04 - Mortgage offer received
10/06 - Contract & transfer deeds etc signed and returned
01/08 - Still waiting for exchange date!

marianiamh

marianiamh wrote: »

I emailed my solicitor on Monday to ask what happens now and when I should expect some kind of update.

I also emailed the EA to ask if I could have another viewing (they suggested last week that it would be good to meet the vendors) I have had no response from either of them. Do you think it’s unreasonable of me to call and chase up? Mindful that I’m not the most patient person in the world!

Just spoke to estate agent who have informed me that the vendors only fully instructed their solicitors yesterday! !!!!!!!

marianiamh

EmKnox wrote: »

The first part of our application happened really fast as we had already applied for a mortgage on a different property before accidentally coming across a better one and withdrawing! So our mortgage advisor at Halifax and our solicitors already had a lot of our details so the ball started rolling quite quickly.


Unfortunately we hit delays further down the line and are still waiting to exchange, although the estate agent has let us know our vendors finally have their contracts to sign so hopefully within the next week we will have more of an idea of exchange! I have been getting more and more anxious about this whole process as it's our first time buying and I really didn't anticipate it to last over four months seeing as there is no chain on either side!



14/04 - First viewing
14/04 - Offer made
15/04 - Offer accepted
17/04 - Mortgage application put through and approved over the phone
23/04 - Survey completed
29/04 - Mortgage offer received
10/06 - Contract & transfer deeds etc signed and returned
01/08 - Still waiting for exchange date!

You must be so frustrated 😩

AKG23

Just a word of warning to those of you with Help to Buy ISAs.

Our solicitor didn't prompt us until the last minute to close them (apparently we should have done this of our own accord). Mine is with Halifax and I was in and out within 5 minutes with the funds transferred to my current account and a closing statement. However my partner's is with Barclays and they say it can take 5 days to issue a closing statement! So this is now delaying us as our solicitors will not exchange until my partner has provided his closing statement. Typical that the solicitors would only ask for this on the 30th July (so we could have closed them 4 weeks earlier with the same balance) and so close to exchange.

Yalpsmol

AKG my statement took 3 weeks!! I was given some compensation for my banks mess up. Fortunately we were closing them well ahead of exchange after reading enough stories about people never getting their bonus. So the £100 was well received.

After that I would always recommend closing them early. A few extra quid in interest isnt worth the hassle.