The NEW waiting to exchange thread...

Sammy_J

atinybrit wrote: »

We did it!
Offer placed August 12th
Exchanged October 7th!

Exchange set back by a week due to some problems with the seller's property (that they are buying) but now all sorted, also had some issues reaching my conveyancer and their solicitors for pretty much no reason...
Completing on Oct 22nd.

Then to plan a wedding!

Congratulations, that’s wonderful news! So pleased so many of us have finally exchanged!

atinybrit

ShelboBaggins wrote: »

Congrats - wedding planning next on my list too lol. Baby - house - wedding - I think I'm crazy but I'm on maternity leave and need the challenge (as if a baby isn't enough!!).

Oh gosh, I don't think I could do all this AND deal with a baby! You're braver (and madder?!) than me! :eek:
Wish you all the best on your planning though!

zesh90x wrote: »

Congrats buddy, your timeline feels very similar to mine, so here's hoping for a similar result. Sellers solicitor reckon a completion date of 1st week of November, end of October seems likely.

Congrats to you too! I'll keep fingers crossed for you. Such a relief for it to be done!

Sammy_J wrote: »

Congratulations, that’s wonderful news! So pleased so many of us have finally exchanged!

Thank you! I'm so relieved it's finally done. Now just dreading the moving of furniture!

jamie_128

How long til completion?

Our buyer has signed her mortgage pack, we have signed ours but enquired a few things, only simple things to be honest mainly about fixtures.

Once contracts are exchanged how long do people usually wait to complete?

atinybrit

jamie_128 wrote: »

How long til completion?

Our buyer has signed her mortgage pack, we have signed ours but enquired a few things, only simple things to be honest mainly about fixtures.

Once contracts are exchanged how long do people usually wait to complete?

It should be agreed between you and the rest of the chain upon exchange. We've gone for two weeks, as this gives us time to sort moving vans, pack everything and rope in the family to help. Some people exchange and complete on the same day (which is risky if the exchange falls through for any reason. I exchanged a week later than planned). Someone I worked with had a month between them.

Thrugelmir

welwynrose wrote: »

Has anyone else experienced what seems a long between accepting an offer and the buyers getting the surveys done - we accepted an offer on our house on 03/09 they had the mortgage valuation done on 27/09

Could be that that your buyers didn't commence their mortgage application immediately. Alternatively some lenders have the property valuation performed later in the mortgage application process. Doesn't seem disproportinately long.

Might might be a reason why your buyers are happy to let time drift as well. People will have their agendas.

welwynrose

Thrugelmir wrote: »

Could be that that your buyers didn't commence their mortgage application immediately. Alternatively some lenders have the property valuation performed later in the mortgage application process. Doesn't seem disproportinately long.

Might might be a reason why your buyers are happy to let time drift as well. People will have their agendas.

Well they’ve had a buyers survey done today he was here for less than half an hour and they want to do a second viewing tomorrow I just want to get a move on with it so we can update the seller of the house we want to buy

jamie_128

they want to do a second viewing but have already applied for a mortgage? thats odd unless they are measuring up.

welwynrose

jamie_128 wrote: »

they want to do a second viewing but have already applied for a mortgage? thats odd unless they are measuring up.

All the paperwork has been started fixtures & fittings list etc they only did one viewing before making the offer I think they just want to remind themselves what the house is like - the EA says they’re excited as they’re FTB currently in rented accommodation they’ve asked if we’ve found anything else as I think they were concerned we have a 2nd property to sell & they were concerned our move was dependent on selling that property but it isn’t, they had a £40k deposit and an offer in principle when they made the offer

**dancingbutterfly**

May I join in with the waiting!


Our timeline:


3/8 Viewed property and was told we could negotiate to our budget
17/8 2nd viewing
28/8 Put our house on market
29/8 Viewing by FTB
30/8 another viewing
30/8 Offer from first viewer FTB. rejected, buyer increased offer to 5K under asking.
2/9 Offer accepted
2/9 Offered twice on our chosen property, all rejected
11/9 Made final offer and was accepted (25k under asking woo)
13/9 Draft contracts issued to buyers sol
18/9 Discovered buyers changed their sol (an online carp one!) and didn't tell anyone.
19/9 Our sol sent all paperwork to new sol.
24/9 Mortgage offer received
26/9 all searches for purchase received.
26/9 Informed vendors mother passed away !
3/10 most replies to enquiries received, still no response from buyers sol :mad:
8/10 enquiries received from buyers
9/10 enquiries responded to
11/10 Buyers measuring up, want to move asap, no notice to give, still have received no paperwork from their sol! :mad: told them to ring them everyday and push for work to be done!
14/10 Instructed sol to canvass for completion of 28/10/19
14/10 awaiting couple replies to queries on purchase. everything else done.
16/10 Booked to sign contracts and all sale and purchase paperwork.


Vendor is moving into a bungalow they already own. Buyers have mortgage offer and need give no notice on their rental (her dad owns it) survey on our property is fine. As was all mortgage valuations.

Our buyers rubbish online solicitor has been MEGA slow since day one and their response is that is it usually 10 weeks till exchange. I told the EA that's a rubbish excuse to justify any delay on their part! The mad thing is that they are considerably more expensive than my fantastic local solicitor!


I know the chances of exchanging a week today and completing the following are slim but you can only try! ( I have booked half term off and really would like it to be that week we move)


Really hope the end is in sight and we can exchange next week with a view to complete the following.


Best of luck all :beer:

Damago

Finally can join this thread – I’ve tried to cut the detail of my timeline down as the first house we were trying to buy was a big complicated mess.. but thought it might be worth including!

16/12/18 – First viewing of property we wanted to buy
19/01/19 – Our house put on the market
??/01/19 – Accepted offer on our house
??/02/19 – Our ‘buyers’ disappeared, house re-marketed
??/02/19 – Accepted offer on our house from second lot of buyers
12/03/19 – Third & final offer on property we were supposedly buying, ACCEPTED! We were so happy then we were told that our sellers were splitting up and lots of debt issues to sort before they can proceed with sale of their house, apparently EA not aware of this beforehand
03/04/19 – Second lot of our buyers’ pulled out saying they had changed their minds
16/04/19 – Accepted offer on our house from third lot of buyers – complete chain with our buyers, us then our sellers.
09/05/10 – Our buyers had their mortgage valuation
Inbetween all of the above we have solicitors appointed and mortgage DIP sorted. Our buyers started their solicitors work.
Spent almost 4 more months waiting for our sellers to be able to proceed, chasing on a weekly basis, problem after problem with their split and then the debt situation. Looked at other houses but there weren’t any of the same size and in our price range in the location that we want. We got to the point where our buyers were chasing daily, we were so fed up of waiting and chasing with no progress, and looked at other locations.

24/08 – First viewing on different (empty & no chain) house that we found
26/08 – Second viewing with current owner, followed by a few days with phone calls to EA, back & forth with offers –
29/08 – Offer accepted, solicitors instructed
03/09 – Mortgage application completed & approved
05/09 – Survey booked
25/09 – Searches back from solicitor – our solicitor hadn’t received our mortgage offer through the post and couldn’t accept email copy so this caused a few days delay
01/10 – We signed contracts
02/10 – Buyers solicitor admitting missed 2 responses to our solicitors queries! Caused more delays and solicitor not local to our buyers so they then had to arrange for their contracts to be posted, buyers to read agree and sign, then post back…
09/10 – Thought again we were all ready to exchange then a few issues arose with our buyers deposit transfers being blocked by their bank which took a few days to sort!
14/10 – Finally exchanged! Massive relief & due to complete next week.

This time around I know everything’s moved quick due to our buyers solicitors having already done most searches, and our onward house having no chain & the old owners already moved out. We initially really loved the first house and I think for a while the longer we had waited the more we thought we’ve committed now and didn’t want to pull out but it was going nowhere and still isn’t back on the market, we don’t regret not waiting. We love the house we’re buying now so much more (we never thought we would feel like that) and are so excited to finally be moving!