The NEW waiting to exchange thread...

seradane

yorkie18 wrote: »

At the very beginning we were assured that all were working towards a completion date of 28.02.20. Now the estate agents are trying to push this out to the 11.03.20 due to the people at the end of the chain. No reason being given, just that they are old?!

11th of March is the day the budget is revealed. Suspect someone in your chain is hoping that there'll be some stamp duty reform coming and figure for the sake of two more weeks wait it will be worth chancing it...

yorkie18

seradane wrote: »

11th of March is the day the budget is revealed. Suspect someone in your chain is hoping that there'll be some stamp duty reform coming and figure for the sake of two more weeks wait it will be worth chancing it...

I don't think it's that. Our vendors are holiday from the beginning of March to the 11th. So it either needs to be at the end of Feb (or earlier) or wait until they get back. Neither us it them are happy to wait so it seems to be down to the ones at the end holding it up. All the estate agent keeps saying is because it they are elderly?! I've no idea why that makes any difference to be honest!

KING5TON

I'm still waiting to exchange.

As of yesterday afternoon my solicitor is waiting for my lender to confirm the funds are now set for release before we can exchange contracts.

Asked my mortgage broker to chase the lender up to check they've received this request from my solicitor (As I do not trust my solicitor in the slightest, going off past form they probably only sent the certificate of title yesterday via 2nd class post) and to check there were no issues. Not heard back from the Broker, I assume they're not interested now since I've already paid them for their services

Completion on the 4th of Feb is increasingly looking unlikely

When will the pain end!


EDIT:- Chased my solicitor and they have now received confirmation from my lender that funds are set for release. Hurrah!

Now we are waiting for the vendor's solicitor to get a redemption figure and their file signed off. We can exchange hopefully tomorrow/Friday! Yey!

iwillretireatfifty

Completion was supposed to be in 2 days time, 31st January. Been chasing EA and Solicitor for exchange of contracts since they asked for the money and I paid on 18th January.
Confirmed with them yesterday lunchtime 28th January that completion still 31st.
Got a phonecall just before 5pm to say they had had an email from seller's Solicitor to say that there is a problem and won't be exchanging or completing on Friday.
Yikes …. booked removals, sorted internet stuff, council tax, water bill, utilities, all packed up and ready to go etc etc


Got update today to say top of chain had pulled out. Now it is a chain of 4 (was 6, but I broke it and moved to rental to avoid losing my FTB). Awaiting further info …

EDIT - top of chain may consider renting in 2 weeks, that would mean moving on Valentines Day.



Timeline:
August 2019 - accepted offer on my property
August 2019 - mortgage offered 1.94% fixed 5 years
22nd August 2019 - put offer in to buy, offer accepted (now chain of 3 with me in middle, seller to find somewhere yet)
October 2019 - my seller had offer accepted to buy, chain now becomes 6, I am second from bottom
21st November 2019 - completed on my sale, moved into rented , I am now bottom of chain of 5
16th January 2020 - mortgage rate dropped, offer now for 1.74% fixed 5 years :-)
18th January 2020 - paid deposit, signed all paperwork ready for exchange for completion on 31st January
28th January 2020 - exchange not yet happened as top of chain has pulled out, I am now bottom of chain of 4
Mortgage offer expires 23rd February

KING5TON

@iwillretireatfifty

Your nightmare puts my nightmare into perspective

Hope it all gets sorted for you soon!

dingling68

dingling68 wrote: »

I'll be ten months in to the process on Xmas Day ... and no closer to the holy grail of exchange!!

I had a phone call from my solicitor today ... my "written report" is being posted to me this evening. My solicitor has waited until all the lease issues have been ironed out and the final version approved so that he can send me everything in one go :j

I had my first viewing of the property on February 1st ...

Hannah13409

Hi
We got our offer on Wednesday now I’m just wondering what happens next

Called my solicitor today he said he hadn’t received it and thinks the seller wants to push back selling date said he’d call me back this was at 10am, 5.30pm still no call back so I phoned him and went to voicemail he had finished for the day

Really all I want to know is what happens next he didn’t really answer anything sounded like he was eating down the phone, conversation was over in 2 mins :rotfl:

Fletchasketch

Hannah13409 wrote: »

Hi
We got our offer on Wednesday now I’m just wondering what happens next

Called my solicitor today he said he hadn’t received it and thinks the seller wants to push back selling date said he’d call me back this was at 10am, 5.30pm still no call back so I phoned him and went to voicemail he had finished for the day

Really all I want to know is what happens next he didn’t really answer anything sounded like he was eating down the phone, conversation was over in 2 mins :rotfl:

Hannah, I'd be looking for another solicitor to be honest. My experience of the process generally is that all solicitors need to be given a nudge from time to time, but this lack of professionalism this early on does not bode well. I would be asking around to see if any of your friends or family can recommend a solicitor. Happy to recommend my own, but that's probably against forum rules!

KING5TON

I'm due to exchange today with completion set for Tuesday. Just chased the EA to see if the vendor's solicitor is ready to exchange as mine is waiting on them.



Was told the vendor's solicitor has the redemption figure now (great) but it has flagged a slight issue and the vendor needs to provide a bank statement (boo). EA has tried to contact the vendor to no avail (hiss). No idea what the issue might be that requires a bank statement or why it's only come up at the last minute



Hopefully sorted soon so we can exchange. If it's delayed to Monday it's not the end of the world, neither is exchange and completion on the same day if delayed to Tuesday. I don't need to move in straight away but I wanted some time to paint and get new carpets fitted before next weekend (when i do plan to move in).


EDIT - Just heard from EA, won't be exchanging today. Vendor needs to sort this issue out with their lender. Hope to hear positive news Monday!

gingercordial

Thrilled to be joining this thread as we had an offer accepted about two hours ago!

We are FTBs but our seller now has to find somewhere to buy so I am sure there won't be much progress for a little while, and I'm painfully aware that lots could go wrong, but at least we have taken the first step...