The NEW waiting to exchange thread...

ToadsFriend

Hi Folks, Here is my (at the moment) little timeline..
04/11/19-My House up for sale (small ex council 2 bedroom, but very cute! in South Yorkshire)
05/11/19-2 viewings
06/11/19 2 offers, but accepted FTB as I liked them
07/11/19-Offer made on house we liked
18/11/19-buyers valuer came to survey for mortgage
25/11/19 Estate Agent advised that buyer is worried as valuation report has down-valued our house by 10k (from £110k to £100k) but told him ''not because of the house, there's nothing wrong with it...but due to Brexit and uncertainty we don't want to lend you the full amount'' so apparently he is making an appointment for Monday to see someone else to see if they will (I'm worried now, I must admit!)
Anyone else had this recently??

Meanwhile the house we want is a single lady who has done NOTHING...her solicitor is waiting for her to take in the correct proof of ID, as she can't find a more recet utility bill.

So all in all...things not going well! and I'm a very impatient/easily stressed person...so I'm not sleeping...haha

Bennettxoxo

Bluntman_1983 wrote: »

Well done Bennett! Hopefully the person at the bottom of our chain is doing the same right now! It could be you for all I know about them! haha.

I got impatient waiting for the solicitor to contact me to tell me if they're planned a completion date so I called up. They've just submitted the certificate of title to the lender and the completion date listed is 4 December! They said they will call later on to comfirm our exchange. It's all very exciting and terrifying all at the same time.


Bluntman 1983 I hope the people in your chain get a wriggle on for you!

Roseysplayground

Hi!! This thread is packed of infos and shared experiences.. perfect for us as ftb. Many thanks to all who shared their timelines and issues. I thought to join in...
We’re new in buying a house..
Offer accepted- 16/10/19
Mortgage full offer received-21/11/19
Instructed solicitors to process house buying and paid for searches, initial papers submitted- 22/11/19
Received an email from our solicitor they have received contract drafts from seller and they are in the position to do searches- (we actually thought they have initiated this a week ago— this cause a week’s delay!!!)- shocked but we confirmed this and said YES please- 27/11/2019
So atm... we’re waiting for searches and hopefully can proceed to exchanging contracts soon!!! We’re hoping before Christmas... fingers crossed!!

Ps we haven’t done any homebuyers survey...there was an active leak from the roof going into one of the bedrooms with a patch of water stain the ceiling on our first and second viewing... however this was repaired and fix by vendor.. on our 3rd viewing the stain was gone.. vendor said there was a hole in an area of the felt which he repaired and water coming from rain with heavy winds... should I believe what vendor says??? We really want this house and don’t want any delays... there was a £20k reduction from original asking price. If reroof required in future, we’re happy to do this..

thanks to all..

Bennettxoxo

Bennettxoxo wrote: »

We have finally paid our deposit to the solicitors!


Just waiting to hear about exchange now.

Absolute madness!! We first viewed this house in June and due to issues with the bank around works needed (we have quite the timeline) we only got our offer on 31/10/2019 and now the solicitor has just phoned me to say he's going to try and contact the sellers solicitor right now to exchange!


By tomorrow we may have exchanged and Wednesday we can complete and collect our keys!!! :T


So exciting!!!!

missypuff19

House put on the market - 7th May
Offer made and accepted on our purchase - 10th June
First offer on our house, rejected - 28th June
Third counter offer, accepted - 3rd July

Potential purchaser then explained she was deciding between two properties and would let us know if she accepted that we accepted her accepted offer 🤦

Purchaser decided to pursue our house - 8th July
Our solicitors' instructed and full mortgage application submitted - 9th July
Buyers' financials provided and our house put as sold STC - 19th July
Basic valuation for lender & full structural survey on our purchase - 5th August
Mortgage offer - 5th August
Basic valuation on our property for buyer - 9th August
Buyer gets mortgage offer and instructs her solicitor - 5th September
Help to Buy valuation for redemption - 8th October
Exchange of contracts - 27th November
Completion set - 4th December

We're in a chain with 8 properties and there's been lots of delays along the way. I was so relieved on Wednesday when we finally exchanged and only a few days left until moving day!

MrsGreen0872

Renting so there was no offers to accept

20th October - Put an offer in on a house
21st October - Offer accepted, MIP sent and proof of deposit
11th November - Survey came back undervaluing the house by 10k less than we offered
15th November - After a little back and forth we settled on a 7.5k reduction and them leaving the hot tub !!
21st November- memorandum of sale issued
21st November - solicitor received mortgage offer
2nd December - Search fees paid

MrsGreen0872

Hi we had ours, that we are buying downvalued by 10k, the vendor agreed to a reduction of 7.5k (as they said they didn't want to start the process again) and leaving a few fixtures and fittings. It just changed our % loan to value. Banks don't like it. Try it on with the vendor, they'll probably want to keep you

Gemma3378

Got our offer today, no chain we are renting and sellers are moving in with parents, hoping for a quick completion.

dingling68

dingling68 wrote: »

Apparently my newly retyped lease [after my solicitors made a correction on nearly every page of the second one sent by the vendor's solicitors] is on the way back from the vendors ... I will believe it when I see it with my own eyes!!

Version number 3 is on the way to my solicitors this week apparently :mad:

Am I able to make a claim against the vendor's solicitors for their incompetence??? They say they have to retype the whole lease document each time for the corrections advised by my solicitor re typos etc. Would it not be saved in word somewhere??

The reason they gave for the delay on the first version was it spent three months in their "compliance department" ... only for my solicitor to return it saying it was missing prescribed clauses and the plans etc etc etc! They were also only supposed to be doing an extension to the lease, not a whole new lease in the first place

Week 40 and still counting ...

welwynrose

Hopefully we are exchanging tomorrow & completing on our purchase Friday we had our offer accepted on 3rd October not sure what we’ll do if it doesn’t happen as we’ve already exchanged on our current house with completion set for Friday