The NEW waiting to exchange thread...

timeism0ney

Dreamingandimpatient said:

Mortgage valuation tomorrow, waiting on help to buy

Curious to know how the valuation went. Is it in line with what you're expecting to borrow? 

timeism0ney

Jono987 said:

We are in!! Woop! God that was stressful! Best wishes to you all

Congratulations! 

peanutjimmy

What a rollercoaster over the past day or so.
25th March - Advised that developer at top of chain were not doing completions until further notice.
8th April - Email from solicitor to advise developer are recommending chain looks at exchanging/completing on the 24th April.
9th April - Another e-mail from solicitor to advise that the seller is now unwilling to commit to exchange/complete until the lockdown restrictions are lifted. 

Chavy89

@peanutjimmy I feel bad for you man these times are not easy i hope you get some sort of resolution. I am also waiting to exchange between me and the seller we manage to get the last couple of enquires docs ourselves however the seller solicitors have said there not dealing with any cases that havent already gone to exchange which is really annoying cause now that we have the docs we could go to exchange and the house will be empty aswell... o well will just have to wait  

FtbDreaming

Well my purchase seems to be at a stalemate.... I'm now worried about it all falling through and me losing £1500 I've already spent on broker etc. I called the Housing Association yesterday because although they are working from home, they are still working. They never ever put me through to the actual person dealing with the right to acquire, just send an email or verbally pass on messages. Apparently yesterday’s message was we’re really busy and you’ll have to bear with us! 

I am fuming tbh. The Housing Association has gone 6-8 weeks over the deadlines in the timed process and now they have no timelines as such. If they had kept to the guideline then i would have probably been completed before lockdown. Now i am at risk of losing the mortgage offer and the £1500 I've spent out. Plus the £100 a week rent I have paid whilst they’ve prolonged the process. 

I am a Nurse in a&e and still have to do my job whilst corona happens so i don't see why people doing paperwork from home on full pay cant do theirs. I am just so fed up and angry with it all. There’s no urgency with anybody and that includes my own solicitor. 

I will be so much better off as soon as I own the house and at the minute it just feels like its not going to happen. Sorry for the rant! 

Congratulations to those that have completed and fingers crossed for the rest of us that we get some sort of definitive date at least on Monday when things are likely to start moving again. 

Chavy89

FtbDreaming said:

Well my purchase seems to be at a stalemate.... I'm now worried about it all falling through and me losing £1500 I've already spent on broker etc. I called the Housing Association yesterday because although they are working from home, they are still working. They never ever put me through to the actual person dealing with the right to acquire, just send an email or verbally pass on messages. Apparently yesterday’s message was we’re really busy and you’ll have to bear with us! 

I feel your pain man it all seems so hard at the moment however from what ive been reading in the past slow solicitors are the normal, my solicitor have just received the last documents with regards to the enquires so now we should be moving to exchange of contract but then he emailed me saying he will check docs and get back to me next week so I guess I have to wait till Tuesday now. I know the docs are correct as me and the vendor are in regular contact and he showed them to me there just simple info docs and as its a fairly new build there are no issues but i will have to wait now. 

I will update on Tuesday regarding progress, hopefully everyone behaves themselves over the weekend and dont force the government in to making harder lock-down rules 

exharris

iampetesmith said:

exharris said:

26/12 - viewed and put offer on
05/01 - offer accepted
late-Jan - survey came back with issues
early Feb - specialist damp survey done
late Feb/early March - negotiated £5k reduction, mortgage offer redone 
early March - coal mine search came back with issues
most of March - waiting on letter for bank for conform go ahead
yesterday - letter rec’d, ready to exchange but due to covid19 requested delag
today - vendor refusing to delay and threatening to withdraw the sale and put back on market!! i offer  to complete on 15th April, vendor refuses saying it’s too late and they want 9th April!
27/3 - my solicitor strongly advises against exchanging contracts, I request a pause until lockdown finishes, or I’m pulling out. Await response

what a nightmare !!

Wow, that vendor doesn't sound great. The best he can hope for is to exchange and complete on the same day, at least the 9th isn't a Friday. Would be better off to wait, if he pulls out now then he'd have to start all over again with a new buyer and that won't complete until this is over anyway. I think he's just stamping his feet for a quicker sale.

Looking back, the vendors were desperate to force me to exchange to secure the sale quickly due to fears around ongoing lockdown. In the end, they did not come back with any arguments when I told them I was waiting because of the advise from solicitor.  They chased it up last week and I just said nothing has changed.

 

sjc93

Here's our timeline so far...
06/03/2020 - offer made on our perfect first home
09/03/2020 - full application made with YBS
11/03/2020 - solicitors instructed
17/03/2020 - mortgage offer received (!!!!) 
26/03/2020 - searches & enquiries conducted on the property
10/04/2020 - searches completed on the property, (TR1) contracts have been sent to the vendor to complete & solicitors have requested for us to do the same.

Not too sure whether it's because we managed to pick a completely incompetent solicitor at this time but I'm finding this part a whole more stressful than the mortgage applicaiton & offer itself. Luckily we have an Estate Agent who is frequently in touch with the vendor's solicitor and is keeping us in touch with everything that's happening on their end, but our solicitors have been terrible. No guidence, have had to send them multiple documents at least twice, they don't even confirm if they have received anything and never respond to any of our actual questions and it takes them almost a week now to respond to our emails. We picked a specialist property conveyancer solicitors thinking it would actually help as well!

Just hope we can get some form of timeline as to when we're looking to exchange & complete (property isn't occupied and hasn't been for some time) so if anyone else has any kind clue.... Anything is welcome (as we get literally nothing from our solicitors!) 

shinytop

Have people who have moved recently or are planning to do so managed to find a removal company?  The guidelines are a bit vague but it seems like moving into an empty property is possible?

Helptobuypurchase

shinytop said:

Have people who have moved recently or are planning to do so managed to find a removal company?  The guidelines are a bit vague but it seems like moving into an empty property is possible?

I don’t believe removal companies are allowing new bookings. We are completing next Friday and doing a self move with our own van. My suggestion would be to look at van hire. Or hold off until restrictions are lifted if you have no alternative but to use a removal company.