The NEW waiting to exchange thread...

Chilli6

Woohoo survey throwed up nothing scary! Now to wait for the searches and hope the vendor cracks on with clearing the house as its not lived in at the moment.
Starting to hope keys could be mine in Sept (I know everything will prob go wrong now🙈) 

anerise

Updated timeline: (FTB, bottom of a 3 party chain)

29/2 Viewed house
4/3 Offer accepted
5/3 Solicitor instructed, ID checks done & searches ordered the following week
18/3 Mortgage application made via broker- 95% LTV (!)
**COVID lockdown...mortgage on ice due to lack of physical valuation. Solicitor furloughed.**
21/5 Mortgage valuation finally takes place. Solicitor back from furlough, sends progress report 
1/6 Mortgage offer issued!!
3/6 Homebuyers survey done, recommends a structural engineer for a specific issue
4/6 Vendors agree to do 10 day radon test as the house is in a radon area and they don’t want to do a bond
15/6 Signed contract, mortgage deed etc returned to solicitor
16/6 Radon detectors returned to lab for analysis 

24/6 Solicitor informs us that all enquires complete

1/7 Radon test comes back clear, no further action necessary

3/7 Structural engineer report comes back- no issues. Now ready for exchange! Or so we thought....
8/7 Found out the vendor’s solicitor neglected to do a mining search for their onward purchase as required by their lender...back to waiting 😩😭

5/8 Vendor’s mining search back and approved by lender finally!
10/8 Exchange/Completion date of 18 August agreed!

God this has been a long process but we are finally getting there. Just waiting for the finalised completion statement from our solicitor so we can make sure they have all their money before next Tuesday. Fingers crossed.

FTHophap

Got through the 7 week mortgage stage (sorta - awaiting post-person to deliver it to the solicitor), ordered / received all my searches (solicitor is refusing to do the land registry one until they have the mortgage offer in hand),
Feels like I'm on the final stretch! HA are happy to do a simultaneous exchange and completion but the solicitors are refusing 
Anyone had a similar issue?

Gonzo44

FTB in Scotland. Our solicitor said we were about ready to complete missives last week.  No news since then. Gave them a call and they said they've not heard back from the seller's solicitor.  Date of entry everyone has been working to is only  a week and a half away.  Getting very worried!

HummingBird76

Gonzo44 said:

FTB in Scotland. Our solicitor said we were about ready to complete missives last week.  No news since then. Gave them a call and they said they've not heard back from the seller's solicitor.  Date of entry everyone has been working to is only  a week and a half away.  Getting very worried!

Don't stress too much.  This quite often happens in Scotland.  Quite often it can do down to concluding missives on the day!  It is stressful, but trust in the process.  If you are only a week and half away from date of entry then presumably any major issues would have come up by now.

croag

My timeline so far... I am being a little cautious due to being a first time buyer:

28/06 - Viewed house, made an offer, offer accepted same day
29/06 - Contacted solicitors who set up case for me and got a mortgage advisor
02/07 - Mortgage application submitted to Nationwide
06/07 - Valuation booked in for 10/07
10/07 - Valuation rebooked in for 15/07
15/07 - Valuation done
16/07 - Valuation sent to underwriters
21/07 - Received mortgage offer - immediately instructed solicitors to start searches
22/07 - Received back two searches already... flood draining one, planning permission one, etc.
22/07 - Booked in for a homebuyers report survey for 10/08
23/07 - Got sent over the enquirers being raised, house seller's plan, title plan etc. signed and returned when needed
30/07 - Sent over mortgage deed, signed and posted back.
04/08 - Called by survey company saying they have had to move my survey due to "family issues". Never informed me when it had been moved to, but my estate agents told me it has been booked for the 24/08.... did not allow me to cancel... have not responded to three emails... not sure what to really do here lol
07/08 - Solicitor informed Nationwide that I declare a small part of my deposit to be a gift, even though I already had done so via my mortgage advisor. Not sure why but this then prompted a text from NW telling me they have revised my mortgage offer, even though checking the documents my advisor cannot tell what has updated.

I have signed the mortgage deed already, but solicitors are waiting back from enquirers and the final search.

Now I am waiting. With my survey on the 24th I don't have much hope that I will be able to give my rental place notice in before the end of the month (28th is latest I can give for moving out 30th September). So I will now likely lose a whole month's rent due to solicitor advising not to give notice in before exchange. So very annoyed at my survey company who have kept me waiting a full month, not replying to my emails, and no ability to refund due to a 14-day cancellation clause of payment.

I hoped to complete in September. Probably still likely... but I will lose a month's rent, which is not cheap.

gemsy46

23/03/20 - Sold house, only 3 of us in the chain.
07/07/20 - Final enquiry answered.
04/08/20 - Chase solicitor to contact my buyers solicitor, who eventually sends an email and then I call EA who plucks 14/08/20 out of air for completion.
07/08/20 - Chase up my solicitor regarding the email she received from buyers solicitor, apparently they're waiting for the bottom of chain to finish sorting out their last lot of paperwork. (No idea what paperwork though).
Update.
No news for over a week since last speaking to my EA, so decided to email her today for an update rather than calling, my thought was, this would give her time to contact others in the chain and prevent (what has felt like lately) her fobbing me off with unrealistic completion dates, like the 14th August as she stated last week.

To my shock she replies with a decent update of whats happening with the bottom of chain.

Apparently they are still buying and have now returned their signed documents and closed their HTB ISA in anticipation for deposit funds to be transferred; their solicitor is currently awaiting the 25% government bonus to arrive and we should then FINALLY be able discuss completion dates.
I've not a clue about this HTB ISA, so no idea how long it takes for the funds to be transferred or how long for the 25% bonus to arrive etc. So that's my homework sorted for tonight lol

izoomzoom

Positive news from the conveyancer tonight.
Looking to exchange and complete next Friday. Final staircase of our SO house, so no searches etc were necessary.
Building insurance easily done. Just hope (increased) life insurance is in place.

kasqueak

I’m annoyed as my buyers solicitors say they had no idea we had an onward purchase! This was clear from the start and I don’t know where the crossed wires have happened. The house we’re purchasing is empty/no chain but it’s taking an age for the enquiries to be answered so still no clue as to an exchange date. Keep getting this sticking point on chancel repair. When I bought the flat I’m selling this never came up yet now I’m being told I need to arrange indemnity insurance for my buyers....surely that’s their problem not mine as I won’t be living there?! Ohhhh this is all so stressful. I hope to never move again once this is all over!

gemsy46

izoomzoom said:

Positive news from the conveyancer tonight.
Looking to exchange and complete next Friday. Final staircase of our SO house, so no searches etc were necessary.
Building insurance easily done. Just hope (increased) life insurance is in place.

That's great news, bet you can't wait.