The NEW waiting to exchange thread...

dave76

dave76 wrote: »

"oh I'll give the other solicitors a call, we might exchange today but looking more likely tomorrow" - but they don't sound confident that the ok will definitely be given by tomorrow

Still not exchanged, so the plan is to exchange and complete tomorrow :eek:
I'm told the lenders to the bottom of the chain will be releasing their funds first thing in the morning, fingers crossed!

bluenose1

ToadsFriend wrote: »

Anyone that has had recent property valuations...have you been downvalued for the property or did it come back as the correct purchase price?

Several people have told me that the market is trending downwards and properties are being downvalued very regularly (my own was too...from £110k to £100k by 2 separate valuers) both gave feedback that it was due to ''market uncertainty'' and not the actual property..unless they were just being polite!

Both the property we are buying and selling both got valued at their full asking price. I was surprised as thought the valuations would be less.

nkarma

nkarma wrote: »

Adding myself to this thread - I mean there's waiting and there's WAITING. I was very patient but currently feeling the latter.

10/9 - Property on market
13/9 - First viewing
15/9 - First offer made, not accepted
16/9 - Second viewing, increased offer made and accepted
17/9 - Instructed Solicitor
mid/late October - Mortgage offer received from Barclays (after a long wait due to glitch)
late Oct - Survey came back a bit vague and 55-page long but okay
12/11 - Searches back
21/11 - Solicitor says we can exchange if he gets all queries back this week
Late Nov - disagreement between solicitors on who is waiting for what
30/11 - Seller's solicitors says she is waiting on lease extension by other freeholders who are located abroad and this may take some time.

Last week - crickets. Did everyone go on holiday already?

Meanwhile, EA (best one I have ever met btw!) said in passing there were a few gazump attempts but seller hasn't accepted. Seller's tenants have been out for over a month so I'm sure she is keen to get this mortgage offer her hands.

Fingers crossed for exchange and completion this month.

The only thing we are waiting for is signed TR1s from co-freeholders on seller's side (2 of them based in different countries) which they don't know when they will be in receipt of. Seller's solicitor has asked if we want to do a conditional exchange with 5 to 10 working days to completion upon receipt of the signed copies. Anyone done this before?

kdotdotdotdot

So tiresome, this whole process! I had hoped that being a cash-buyer and FTB and the fact the house I'm buying was empty and not in a chain, and I'm renting and can move out any time, that things would go quickly. But no.

14th Oct - first offer made, and rejected
15th Oct - second offer made and accepted
23rd Oct - second solicitor instructed
30th Oct - searches begin
4th Nov - surveyor bill paid
14th Nov - survey was meant to be done
19th Nov - survey done
25th Nov - survey results received
25th Nov - results from all searches received. Just a few more questions for the vendors

To date - still waiting for the vendors to answer questions!!!!! I'm at the stage now where I truly don't care anymore about boiler services, rights-of-way, the mysterious "problem that happened about 16 years ago" or indeed anything else. Just let me give them my money so I can move!

Bluntman_1983

Bluntman_1983 wrote: »

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!

Re-reading this, the goal of completing on the 4th October was a little... optimistic!

However, after weeks and weeks of various delays and at least 1 solicitor being sacked by his firm, we have (yesterday) exchanged contracts on our sale and purchase! :j

Completion date is 7 January so we can now enjoy Christmas and New Year and look forward to kicking off 2020 in our new home.

Crumble2018

kdotdotdotdot wrote: »

So tiresome, this whole process! I had hoped that being a cash-buyer and FTB and the fact the house I'm buying was empty and not in a chain, and I'm renting and can move out any time, that things would go quickly. But no.

14th Oct - first offer made, and rejected
15th Oct - second offer made and accepted
23rd Oct - second solicitor instructed
30th Oct - searches begin
4th Nov - surveyor bill paid
14th Nov - survey was meant to be done
19th Nov - survey done
25th Nov - survey results received
25th Nov - results from all searches received. Just a few more questions for the vendors

To date - still waiting for the vendors to answer questions!!!!! I'm at the stage now where I truly don't care anymore about boiler services, rights-of-way, the mysterious "problem that happened about 16 years ago" or indeed anything else. Just let me give them my money so I can move!

You've only been in the process for 2 months! Ours took 6 months, so I'd say you're doing pretty well!

krallian

All these delays are like eating a part of me as well. We are the same. We were waiting for a paperwork from homes england and now they wanted a side letter for the mortgage but the money is already with solicitors and mortgage payment has been taken from me already. Its driving me crazy.

Crumble2018

krallian wrote: »

All these delays are like eating a part of me as well. We are the same. We were waiting for a paperwork from homes england and now they wanted a side letter for the mortgage but the money is already with solicitors and mortgage payment has been taken from me already. Its driving me crazy.

How can you have paid a mortgage payment if you haven't completed???

krallian

The bank decided to take our money as they thought we have completed already. Crazy right?

Crumble2018

krallian wrote: »

The bank decided to take our money as they thought we have completed already. Crazy right?

I think you need to speak to your solicitor, and fast!!