The NEW waiting to exchange thread...

Mashy

New here.

Currently going through the woes of selling current house and buying a new build.

Feb 2019 Decided to sell - (Cue a month of manual labour getting the house in tip top condition)
16/03/2019 - House on market
17/03/2019 - First offer - declined as too low. In meantime looked around new developments looking for our ideal home. Also looked at older houses but found we preferred new.
19 March - Another AIP as we got a money off a new house and could accept previous offer but it was too late.
14/06/2019 - Third offer lucky
15/06/2019 - Reserve new home
17/06/19 - New AIP through new mortgage broker (one we were pushed to use through the builder but they could get us a better rate than our independent one, so meh). Also instructed solicitor at this point.
19/06/19 - Full mortgage application
19/06/19 - Valuation to get out of current HTB contract
24/06/19 - Bank asks for bank statements to prove a name change.
28/06/19 - 1st Attempt of valuation of new house. Had wrong address.
28/06/19 - Authority to proceed with new HTB
05/07/19 - Valuation of current home
15/07/19 - Valuation of new home finally takes place
18/07/19 - Mortgage offer
01/08/19 - Searches and paperwork come through, signed and returned 05/08/19


Current situation:
We are all ready to exchange as far as we're concerned. We've been given a completion date in 3 weeks time by our builders, but we still haven't exchanged. Our buyer wanted to get her mortgage approved before instructing her solicitor to start searches (we weren't worried about this as initially we thought we would end up holding the buyer up - chain free living with a friend). Searches began about 2 weeks ago and should take another 2 weeks, so it looks like we will possibly exchange and complete on the same day.
I honestly cannot say anything bad about our own solicitor, she has kept us updated every step of the way, and when there would be a silence (searches) she told us when we would hear from her again. That's got to be unheard of! Our solicitor in our previous purchase needed a lot of prodding!

marianiamh

Thrugelmir wrote: »

How long is the chain?

No chain on my side or theirs

marianiamh

AKG23 wrote: »

Aaaaand they've done it incorrectly. They transferred the funds from my partners account before closing it and so have made him ineligible for the bonus. I don't understand how people who do this for a living day in day out are so incompetent!? I don't work in a bank and I know that's not how it should be done!

OMG that’s terrible! Surely you can complain about this and they’d have to fix it?

AKG23

marianiamh wrote: »

OMG that’s terrible! Surely you can complain about this and they’d have to fix it?

I'm sure we'll manage to get it sorted one way or another but the issue is that we are really desperate to complete now, my rental is up on the 19th so time isn't on our side! We aren't relying on the bonus to complete so I don't know if we have to complete without it and try to reclaim the bonus at a later data through the Financial Ombudsmen. Our solicitor is calling Help to Buy this morning and the bank are trying to think of a solution before my partner goes back in at lunch but it's all just stress and hassle that should have been avoided.

It'll be 13 weeks this weekend since we made our offer on a no chain flat. I am never buying again!

Seanymph

ARRGGHH - we have agreed to sell our house and today learnt that the purchasers buyer, who we thought was good to go, cash buying, ready for movement, has yet to put their house on the market. we had been told that they had applied for the mortgage, and we were all just waiting for that to be approved.

The buyer of theirs has the borrowing in principle now - are having a survey done in a week on our buyers house ready to purchase it - but still haven't put theirs on the market! This seems a strange way around it to me.

I thought this would be quick. It won't be will it...........

marianiamh

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
1st August - vendors fully instructed solicitors
5th August - Our current property sale to cash buyer, contracts have been issued to their solicitor.
6th August - HSBC mortgage fully approved and offer sent for our new hone

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!

****updated some info from original post****

4 times I have requested another viewing on the new place as my husband hasn’t actually seen it yet!! Being fobbed off constantly and it’s really beginning to !!!! me off!

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
05/08 - Final enquiry received at last after far too much back and forth for something so simple.
06/08 - ..........

We've finally exchanged!!!!!! Received instruction at lunch time to transfer the deposit money across and just had confirmation of exchange. Completion is set for Friday. I can finally relax!

plantqueen

Congrats @Caitykinss you must be so pleased!:D

AKG23

Congratulations @Caitykinss!

We have also just exchanged with completion on Friday!! :j

Does anyone have experience of completing through purplebricks? How do you go about collecting the keys? The vendors have already left the property.

marianiamh

Caitykinss wrote: »

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
05/08 - Final enquiry received at last after far too much back and forth for something so simple.
06/08 - ..........

We've finally exchanged!!!!!! Received instruction at lunch time to transfer the deposit money across and just had confirmation of exchange. Completion is set for Friday. I can finally relax!

Congratulations!!!! Xx