The NEW waiting to exchange thread...

dave76

dave76 wrote: »

Joining in with this now we are in progress...

5-Jul We are on the market!
... Many viewings on our property and potential purchases
11-Aug Viewed purchase property
17-Aug Offer accepted on our sale
20-Aug Offer accepted on our purchase
... Enjoy the rest of holidays
27-Aug Solicitor instructed, mortgage app kicked off
04-Sep Sale and Purchase docs received from solicitors
06-Sep Dropped sale and purchase docs back at solicitors
10-Sep Mortgage application completed, survey booked for 16 Sep

Survey completed yesterday and mortgage offer issued! Thought that bit might take a while but clearly not. Sounds like the vendor of our new property is moving out this week so that end of the chain is sorted too. Might need to start nagging the solicitor for search progress now

Bluntman_1983

Posting timeline to help ease my stress!

9 Feb 2019 - Valuations on our current place
16 Feb 2019 - Current property listed
17 Feb - 8 Jul - Many viewings and 3 offers rejected! Held the same asking price but decided we would accept less.
9 Jul - Accepted an offer on ours - a little under asking price but after 5 months who's counting?
9 Jul - Made offer on house we had viewed a couple of times and loved.
10 July - Offer rejected, upped offer and was accepted @ a little under bottom of asking price range. Happy days!
10 July - Solicitor instructed (already had instructions for our sale)
16 July - Baby #2 arrives in good health to add to 2 year old already bouncing off walls in our cottage!
19 July - Obtained updated EPC for our property as old one was expiring in September!
22 July - Mortgage offer received - very quick process (including valuation survey)
15 August - All searches on our purchase returned
20 August - Full building survey on our purchase - no major issues
By 31 August - All inquiries on our purchase answered. Seller buying a new build and wants completion by 30 September. But...
1 Sep - Now: Our buyers have had multiple queries (all answered) but all gone a little quiet. They are selling a flat to a 1st time buyer but we're not sure where the delay is....

So... Stress waiting! Aiming for completion on 4 October but no idea if that works for our buyers or their buyers so have asked solicitors and EA to find out where everyone is at. No fun when you can't do much about it! We are V V ready to move!

atinybrit

Me and my OH are FTB, super excited for it all but also mildly terrified. OH has gotten trigger happy and started packing all of our worldly belongings away even though we've not got our exchange date yet!

10/08 - Viewed the property after several other viewings throughout the week. Had out heart set elsewhere until we saw this one. Had no photos of it before visiting as it hadn't technically been advertised yet!
12/08 - Made offer. Counter offer given and we accepted. Several grand less than we were expecting to pay, so happy days!
13/08 - Conveyance company instructed. 3 day wait to have initial telephone call.
14/08 - Mortgage applied for to Barclays.
16/08 - Phone call with conveyancers. Proof of funds etc sent over. L&C tell us there's been an issue with sending the application over (apparently!) so mortgage is ACTUALLY applied for on this day.
20/08 - Valuation done already and mortgage offer given! Woooo!
21/08 - Area searches requested
22/08 - Draft contracts and title docs received, signed and returned. Fixtures and fittings given - pleased to see we won't need to buy a fridge freezer or dishwasher!
28/08 - Conveyancers received mortgage offer. Mortgage deed given to be signed.
02/09 - Area searches back all good. Some enquiries made regarding certs for electricity etc.
04/09 - Estate agents called us up in the evening. Brief panic as we thought sellers were backing out but quite the opposite. Seller has some personal things going on and wants everything sorted ASAP so it's one less thing to worry about. Only outstanding our enquiries to them, so they chase it up.
05/09 - All enquiries returned, all good and signed off. All paperwork has gone to Conveyancers already. No outstanding tasks on our online portal (which has been super handy). I'm not sure what's meant to happen next to be honest!

We put the offer in just over 3 weeks ago!

06/09 - Had an extra enquiry raised. GOT ENGAGED.
09/09 - Final enquiry answered. Conveyancer disappears off the face off the earth for several days while I try to get hold of her.
13/09 - Convenyancer finally replies. Forgot we have LISAs, so have to fill out forms and send those off to release funds from LISAs. Sent them off 14/09.
16/09 - Hand in notice for our flat.

Providing the conveyancer pulls her finger out and applies for the LISAs to be released fairly sharpish, she thinks we could exchange this time next week!

jjmmww1

Finally got the good news last night that the chain is now complete we get an update on Thursday and see how soon we will be able to move.

BlueHorizonUK

atinybrit wrote: »

06/09 - got engaged.

congrats!!!!! :t

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!

8th August - all searches back and fine
Throughout August - Everything else returned
11th Sept - TR1 forms had to be done again as the vendors spelt their names wrong!!!
13th Sept - Vendors finally returned their signed contracts.
14th Sept - Bankruptcy check came back with a name the same as mines so had to make arrangement to certify it wasn't me.
16th Sept - certified bankruptcy search that it wasn't me.
17th Sept - Call from EA to say vendors solicitor is good to go
18th Sept - Called my solicitor to see what the hold up was and no response.
20th Sept - Call from EA to say their clients had just given the go ahead to exchange to their solicitor.
20th Sept - Email from my solicitor to say we 'may' exchange today - Fingers crossed but I am not holding my breath!

darthpaul6

Hello all,

Vendors have acceded to our solicitors' request for lack of Building Regs Indemnity Insurance (there's a question about a wall which was partially removed 26 years ago).

That's good news for us... I think. The only potential snag is that we're not able to figure out whether having an indemnity policy could have a knock-on effect on our home insurance premiums. Is it the sort of thing we would need to disclose? Does anybody have any experience or knowledge of this, please?
Any advice would be exhaustedly and gratefully received. This has dragged on for what feels like ages now.
Thanks in advance!

Sammy_J

marianiamh wrote: »

20th Sept - Email from my solicitor to say we 'may' exchange today - Fingers crossed but I am not holding my breath!

Hoping to see a positive update! Did you end up exchanging??

ShelboBaggins

Joining the waiting party.

We were expecting a baby and needed more room and had initially hoped to be in our new home before our baby arrived in July (wishful thinking in hindsight!). It took us longer than anticipated to tart house up before putting it on market and then again to receive and accept an offer despite some positive viewings. Our little girl arrived on 10th July, just over 3 weeks after our offer on house we wanted to buy was accepted. Despite the whole process taking nearly 6 months it's not been as stressful as initially thought especially with baby, in fact baby has kept focus away from buying/selling...definitely a lot easier than first time around.

Here's our timeline so far:

10/4 - Our house put on market
13/6 - Viewing and offer made on our house - rejected too low
14/6 - Counter offer accepted £3.5k less than asking price
15/6 - Viewing on purchase property
17/6 - Initial offer £15k less than asking rejected, counter offer at asking price accepted
18/6 - Solicitor instructed for sale/purchase
20/6 - Mortgage application submitted
2/7 - Valuation survey undertaken on purchase property
2/7 - Mortgage offer received
10/7 - Daughter born :beer::j
17/7 - Valuation survey undertaken on our property
23/7 - Call from seller's estate agent advising seller's had pulled out of their purchase due to issues highlighted from survey. Had viewed 2 properties over weekend and put offer on one
31/7 - Title docs, property info, fixtures and fittings received from solicitor for purchase
6/8 - Mortgage deed and declaration received from solicitor
7/8 - Seaches for purchase requested
7/8 - Seller's estate agent advises sellers offer accepted on other house 26/7 and vendor not looking to purchase immediately therefore only 3 properties in chain
19/8 - Searches completed
20/8 - Initial queries from vendor's solicitor received
21/8 - Draft contract and title deed for sale received
27/8 - Documents returned to solicitors
28/8 - Homebuyers survey on purchase property undertaken
5/9 - Further queries from purchaser's solicitor received and responded to
6/9 - Vendor's solicitors respond to additional queries
9/9 - Survey report issued, query re chimney breast removal and whether building regs existed and whether supports conform
17/9 - Chimney breast query raised with vendor's solicitors
20/9 - Vendor's confirm work undertaken prior to their purchase as per extension....assume no further action

We have 3 properties/4 parties in the chain, our buyer is a buy-to-let investor and the party at top of chain have purchased their new property already.

Just awaiting confirmation from my buyer's solicitors that they have no further queries so hopefully all queries in the chain have now been resolved so should be moving to exchange contracts next week. I received contract docs for purchase yesterday and solicitors have advised that sellers at top of chain queried completion for 11th Oct, however the rest of chain were working towards end of Sep and hoping for 4th...negotiations will continue next week...

Sammy_J

Our purchase was moving so fast, I should have known it was too good to be true!

Our sellers are moving in with their daughter who is buying a new home for them all. We were told our purchase was not linked to the daughter’s purchase, that our sellers wouldn’t do anything to hold us up, and they expected we’d complete in September/October.

About 7 weeks after our offer was accepted, our Solicitor told us she was hoping we’d be able to exchange at the end of week commencing 9th September. So, we went into the office, signed all the contracts in readiness and then waited for the week to play out. The 13th came and went and when we chased for a reason, we were told that they don’t want to exchange with us until the daughter does on her home.

It’s such a tricky situation. We have moved quickly so it would have been remarkable if everything had gone to plan. It’s just so disappointing to be told that we’re not in a chain, to find out that we now in fact are 2 months into the process.

We know the daughter’s solicitor has received her searches and was going to raise enquiries but we’ve heard nothing from our solicitor since. We have queried the status of the chain so we can understand how long is it (pretty certain the daughter is selling too), but haven’t received any news on that over a week later. Disappointed!

Our timeline:

13/07 & 15/07: First and second viewings
16/07: Offer made, negotiated and accepted
17/07: Appointed mortgage broker
18/07: Instructed solicitor
22/07: Submitted full mortgage application to Halifax
25/07: Submitted forms and documentation to solicitors
26/07: Mortgage offer confirmed
09/09: All searches and enquiries completed so signed the contracts ready for a hopeful exchange on the 13th