The NEW waiting to exchange thread...

fackers_2

HomeownerDreamer said:

How often are people chasing their solicitor? Mine submitted searches on Thursday and has the draft contract to look over. Should I be chasing weekly or whatever? The LA website said searches take an average of 5 working days or a maximum of 10 working days and the other searches should only take a couple of days maximum so is it reasonable to expect an update this week?

Once a week if I hadn’t heard anything... I’d just be polite and ask if there was anything I could help with.

izoomzoom

We received mortgage offer yesterday, so all systems go.
Final staircasing of our shared ownership house.
Started process on 9/6/20 by ordering the independent chartered surveyor valuation, and now it's up to the solicitors. Have asked for provisional exchange dates and waiting for solicitor to hear back from HA solicitor.

purple_ck

I was just wondering if this is normal -

when we put our offer in (accepted) my solicitor put the price and said "move date to be mutually agreed further down the line" 

which was fine, we got our mortgage offer last week (amended from a previous one we had for a sale that did not go ahead in May) and I contacted the solicitor to give them a copy and asked if there was any indication of a move date (just for a rough guide for taking time off work) 

I've had no reply, I thought I would have at least had a copy of the sellers solicitor letter accepting our offer.

our mortgage offer expires on 20th September so I'm just a bit concerned because I don't want to lose out on the property (not sure if I can get the offer extended)

just want to see if it's normal not to hear anything about dates in between mortgage offer and searches etc..

kasqueak

purple_ck said:

I was just wondering if this is normal -

when we put our offer in (accepted) my solicitor put the price and said "move date to be mutually agreed further down the line" 

which was fine, we got our mortgage offer last week (amended from a previous one we had for a sale that did not go ahead in May) and I contacted the solicitor to give them a copy and asked if there was any indication of a move date (just for a rough guide for taking time off work) 

I've had no reply, I thought I would have at least had a copy of the sellers solicitor letter accepting our offer.

our mortgage offer expires on 20th September so I'm just a bit concerned because I don't want to lose out on the property (not sure if I can get the offer extended)

just want to see if it's normal not to hear anything about dates in between mortgage offer and searches etc..

I think it’s normal. We’ve had mortgage offer all sorted. Searches are back and we still haven’t had any news on dates. Had offer accepted on 2nd June and it’s taking forever. So slow and frustrating! Hope you have better luck than me so far

Almostfree

Did you put in the conditions of the offer that it’s based on the seller NOT using the house as proceeds for the next house? If so I would absolutely be threatening to pull out especially given how close you are... Then again, you really need to weigh up how much you want this house and if you’re prepared to wait... Personally I’d find another house

No we didn't. We dont mind him needing the proceeds of this house for the purchase, that was never the issue. The problem was that he never said that he would need the proceeds from both sales to make his onward purchase, and instead said he would be happy to move into his mother's house to continue his search. He offered on his new property the week after he accepted our offer (4th June) but didn't informed our solicitors that there was now a chain until we were ready to exchange just over a week ago. Had we known at the start we could have retracted our offer and found somewhere more ready to move in with no chain.
Like I said, I'm not so in love with the house that I'd be gutted to lose it, so that was really our bargaining chip. My daughter starts her final year of A levels in September and she has exams as soon as she goes back. I start my new job early September (newly qualified A&E nurse) so we really don't need the added stress of living in a building site then, which was the main reason we can't wait for the rest of the chain to complete.
Turns out the seller is now concerned at the prospect of losing our sale and he has agreed to move into his mother's house like he said he would while he waits for the completion on the rest of the chain. We have suggested a new completion date for our property of 10th August and are just waiting to hear back today. That gives us time to get the new boiler in and the roof repairs done before our tenancy expires and we fully move in end of August. 

purple_ck

kasqueak said:

purple_ck said:

I was just wondering if this is normal -

when we put our offer in (accepted) my solicitor put the price and said "move date to be mutually agreed further down the line" 

which was fine, we got our mortgage offer last week (amended from a previous one we had for a sale that did not go ahead in May) and I contacted the solicitor to give them a copy and asked if there was any indication of a move date (just for a rough guide for taking time off work) 

I've had no reply, I thought I would have at least had a copy of the sellers solicitor letter accepting our offer.

our mortgage offer expires on 20th September so I'm just a bit concerned because I don't want to lose out on the property (not sure if I can get the offer extended)

just want to see if it's normal not to hear anything about dates in between mortgage offer and searches etc..

I think it’s normal. We’ve had mortgage offer all sorted. Searches are back and we still haven’t had any news on dates. Had offer accepted on 2nd June and it’s taking forever. So slow and frustrating! Hope you have better luck than me so far

thanks ! I mean when I bought my previous flat, the offer the solicitor sent had a date of entry on it to work towards. So I just let them get on with it in the background and wasn't bothered. Same with the property we were going to purchase just before lockdown, we were working towards a date etc till the sale fell through. 

I don't mind that it will take time, just don't want to lose the offer, even if I just got a reply saying "sorry not heard anything yet, working on the file and we will let you know of any updates" instead of nothing.

I just find it a bit odd, anyway your comment has helped me calm down a bit

fackers_2

Almostfree said:

Did you put in the conditions of the offer that it’s based on the seller NOT using the house as proceeds for the next house? If so I would absolutely be threatening to pull out especially given how close you are... Then again, you really need to weigh up how much you want this house and if you’re prepared to wait... Personally I’d find another house

No we didn't. We dont mind him needing the proceeds of this house for the purchase, that was never the issue. The problem was that he never said that he would need the proceeds from both sales to make his onward purchase, and instead said he would be happy to move into his mother's house to continue his search. He offered on his new property the week after he accepted our offer (4th June) but didn't informed our solicitors that there was now a chain until we were ready to exchange just over a week ago. Had we known at the start we could have retracted our offer and found somewhere more ready to move in with no chain.
Like I said, I'm not so in love with the house that I'd be gutted to lose it, so that was really our bargaining chip. My daughter starts her final year of A levels in September and she has exams as soon as she goes back. I start my new job early September (newly qualified A&E nurse) so we really don't need the added stress of living in a building site then, which was the main reason we can't wait for the rest of the chain to complete.
Turns out the seller is now concerned at the prospect of losing our sale and he has agreed to move into his mother's house like he said he would while he waits for the completion on the rest of the chain. We have suggested a new completion date for our property of 10th August and are just waiting to hear back today. That gives us time to get the new boiler in and the roof repairs done before our tenancy expires and we fully move in end of August. 

There you go! Good to hear it got sorted... I wouldn’t be surprised the EA and the solicitors weren’t best happy with the original news and likely put pressure on the seller too!

fackers_2

fackers_2 said:

Self employed here and applied with Halifax via Broker.

20th June - MIP

21st June - Viewing & Offer Accepted

22nd June - Income documents submitted along with Mortgage APP

26th June - Underwriters rejected PDF SA302 and requested scanned copies of the printed version (no difference at all).

27th June - Submitted newly requested versions

9th July - Valuation Instructed

16th July - Valuation and survey

16th July - Mortgage approved

20th July - New Conveyancer assigned (same biz, not sure why) 

20th July - Further enquiries made

23rd July - Electrical test carried out as no previous certificates included.

24th July - Deposit sent / received

27th July - Enquires all responded to and satisfied

28th July - Mortgage deed signed and hand delivered

7th August - Simultanious Exchange & Completion 😁😬🤞🏼

We’ve got a completion date! Ideally always wanted it 31st but the seller is still awaiting on a query from their purchase so it’s a week longer just incase.

HomeownerDreamer

So I asked solicitor for an update on the searches but got a reply saying she's received details of a new property and asking if it was mine. I've told her no I'm still buying the same property but now I'm worried why she thinks that and didn't get an answer about the searches.

PERMOTIO

HomeownerDreamer said:

So I asked solicitor for an update on the searches but got a reply saying she's received details of a new property and asking if it was mine. I've told her no I'm still buying the same property but now I'm worried why she thinks that and didn't get an answer about the searches.

When I called my solicitor she told me the mortgage amount had changed and they were waiting for an update which could take 10 working days. Told her I had no idea what she was talking about and she'd mixed me up with another client.
I think many are experiencing higher workloads right now and thus more likely to make mistakes! Definitely didn't fill me with confidence.