The NEW waiting to exchange thread...

yorkie18

We've exchanged!! I literally can't believe it! Our road to moving has been going on since 23rd April 2019. 
The wait until completion is longer than we would like, but at least we can spend the next 4 weeks planning! 

Good luck everyone, I hope you are all joining me soon!

iwillretireatfifty

Exchange today, just before 5pm!   It’s taken 6 months to get here.  

Completion is tomorrow 14th February (a Valentine’s gift to myself) :-D

Good luck to anyone else going through this awful process!

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

31st January 2020 – supposed to be moving day, but exchange or completion hasn’t happened

11th February 2020 – supposed to be exchange of contracts day

13th February 2020 – exchange of contracts at just before 5pm – completion tomorrow!

iwillretireatfifty

yorkie18 said:

We've exchanged!! I literally can't believe it! Our road to moving has been going on since 23rd April 2019. 

Wow!  I thought mine had been going on a long time, but April!  

FtbDreaming

Ooh goodness! How long does the exchange process take? Im using right to buy off housing association so no chains or sellers. I have my mortgage offer prior to appointing conveyencer (offer valid until 30th June) 

small timeline goes:
Oct 2019- applied for RTB
3rd Dec 2019- HA valuation done
1st Feb- received RTB price and appointed mortgage broker
3rd Feb- DIP 
7th Feb- full application put in with Halifax
11th Feb- valuation
12th Feb- mortgage offer and conveyencer appointed
13th Feb- sent off purchase instruction form

now I'm just waiting.... with no patience and a big fat headache! Ive said I'm ready to exchange asap on the forms and I have all the deposit money good to go. I haven't heard back from them yet. According to the initial email Im waiting on a client care letter setting out fees and expectations etc and contracts from the HA solicitor. 

I just cant wait till this process is over. 

scholesfan88

Had notification from our solicitor that they have agreed with our developer to exchange and complete on Thursday this week.

We reserved this house on 12th November (New Build Shared Ownership) and have had nonstop issues with their solicitor holding everything up or answering enquiries incorrectly.

Our mortgage offer expires on 2nd March, so hoping it goes through this week without issue.

Fletchasketch

Fletchasketch said:

Fletchasketch wrote: »

Latest from the buyer is that they will withdraw from the sale if we do not complete by 14th February. It appears that he was told by the estate agent that we would be completing by end of January at the latest (though they never mentioned this to me, even when I asked specifically what his constraints were :mad:) with 10 enquiries outstanding it seems extremely unlikely that this is achievable. I could throttle the estate agent for their sheer incompetence. Utterly fuming.

Latest is we can move completion to 18th Feb, which will be much easier for me. Only two enquiries remain as things stand, so feeling a lot more optimistic. Vendors of onward purchase have also agreed to March 12th post Budget completion. Cross everything!

Finally completed on my sale on 17th Feb. Movers were delayed by an hour and a half, so ended up with 45 minutes to ship everything out before the contract deadline. Managed it with very little time to spare, marched down to the estate agent to pick up the key for the new property (although hadn't exchanged at this point) and got the call to say we'd exchanged 30 minutes into unloading!! So pleased to have been able to leave my stuff there until completion. Now have 2 more nights in an Air bnb, 2 and a half weeks on holiday followed by completing and finally moving in to the new place on 12th March. PHEW!

scholesfan88

We are due to exchange and complete in the morning and my anxiety is through the roof.

The process has certainly sucked all the joy out of purchasing our first home.

Luckily it's a new build and we'll have a full month to move our stuff from the rental were in if need be.

FtbDreaming

scholesfan88 said:

We are due to exchange and complete in the morning and my anxiety is through the roof.

The process has certainly sucked all the joy out of purchasing our first home.

Luckily it's a new build and we'll have a full month to move our stuff from the rental were in if need be.

Oh thats brilliant! Good luck for tomorrow! I finally got a letter off my solicitor yesterday saying they're waiting on sellers to send the contracts to them so now its just a waiting game! Im already in my house as its Housing Association so hoping exchange and completion can be done close together as possible even same day as sooner its done the sooner I stop paying rent. 

scholesfan88

We exchanged and completed at approx 14:30 today.

Such a relief to have this over and done with, we can start enjoying our new home.

Let the snagging commence 

bob_the_dinosaur

Accepted an offer on ours in December
Found 2 places, decided to go for the dooer-upper as it would be a much better house when done. Had survey done, survey unearthed many problems, sellers wouldn't negotiate so we pulled out.  In the meantime the other house sold.
Found somewhere else in January, just recieved draft contracts.  Already paid for searches etc so just wondering how quickly everything can be done