The NEW waiting to exchange thread...

gemsy46

kasqueak said:

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!

Sounds like a right nighmare, when my first buyer who pulled out at last minute agreed to purchase, I do remember the EA saying they were a cash buyer and ready to go, it wasn't till  later I found out they were selling a property too and organising a mortgage. I agree with you tho, I'd have thought it would be up to your buyers to get their own indemnity insurance sorted too.

Missy79

Thought I'd join in as It looks like I'm now going to be waiting a bit longer due to Solicitor error!

• Feb - found a property I loved and offer accepted.
  
• Feb to March - found out property was actually being sold via a company from a part exchange on a new build, this meant very little info on the property available. This included any information (age, building regs, planning etc) on the large 2 storey extension.
  
• Concerning cracks noted in extension walls, decided on full structural survey.
  
• Lockdown!
  
• June - survey, surveyor absolutely terrible, despite taking a full 10 working days to get me the reports it has incomplete sections and errors, but did note more cracks that may or may not be a problem. 
• 19th June - Offer withdrawn as not willing to take the risk on structural problems.
  

• 27th June - new property found, 9 years old, no work needed. Offer made and accepted 2 days later.
• Solicitor instructed and disbursements paid for.
• Mid July - contract and property information forms received and returned.
• 24th July - Homebuyers done and valuation received.
• 05th July - chased mortgage offer, bank have it and will send me a copy (don't know why I didn't receive one yet and the one I do receive later is marked as a duplicate).
• Wait - I assume we're waiting for searches and responses to enquiries.
• 13th August - e-mail from Solicitor requesting that I make a payment on account so they can order the searches! Reply confirming I paid this at the beginning of July. Solicitor apologises and blames computer glitch  , so now I go back to waiting. Their glitch will also now cost me extra in storage fees and my partner extra rent.

I no longer have any faith that I can employ anyone to do anything!

kasqueak

Missy79 said:

I no longer have any faith that I can employ anyone to do anything!

This is how I feel! My solicitors are being flaky and I feel like no one is listening to me. They seem to have a way of answering/responding to you without really answering the question!

purple_ck

I have had to email my solicitor again because I have heard nothing, I will need to apply for an extension to the mortgage offer at this rate due to no contact. I hope the seller doesn't pull out.

I don't want to come across as pestering but I feel I have been quite patient, I've sent 3 emails now in total over the period of 3 and a half weeks bearing in mind they are being ignored.

FtbDreaming

Hi I’ve been at a caravan all week so a nice little distraction. I am due to complete Monday! My solicitor emailed me yesterday saying they’ve received my deposit funds, mortgage funds should be in tomorrow and HTB bonus has been requested so as far as I know things are going on 🤞🏻

grey_door59

Newbie here! 
Anyone else constantly terrifies something will go wrong?? FTB previous rentals only and terrified of this whole process!! Currently have my FIL as point of contact for all of this for us (he is lending us our deposit) and have authorise all negotiations to go through him for us and so seller has been dealing with him until now, when i made the mistake of giving the seller my direct number! 
Currently have an exchange date for 20/08/20 but the seller is turning into a complete nightmare!! Following an undervaluation negotiations have had to take place and 'meet in the middle' agreement was made. FIL is away and seller had a melt down about him not replying to messages and contacted me direct in a panic saying he though we were going to pull out!!  
FIL negotiated a new price with him and as far as we knew all was fine, seller messages me direct to complain about this new deal and says still doesn't know if it will go ahead!! Further conversations revealed he has agreed to new price provided we can exchange on 20/08 and complete 28/08. Everything is in place to do just that but I cant shake the feeling of the seller having another melt down!

 Long and short of the story is that the seller must complete on their new house by the date give and therefore desperately needs us so would he really be silly enough to pull out now? He'd surely never be able to complete by his set date if he did would he?
Now I'm reminded of why for the past 15 years  I have rented!!

 Time line 

June 2020 -  house hunting commences
11/07/20 house found, offer made and accepted. Seller requests completion by end August
July 20- solicitor instructed, contracts  drawn up, searched applied for etc .- all going swimmingly
 first week in August 20 - searches returned, Mortgage in place, funds available. - all swimmingly.... 
First week in august - House valuation completed, Small under valuation. 
Second week in August - seller meltdown!  renegotiation of price, seller stipulates 20/08 exch and 28/08 complete. Seller states happy with that but tells me unhappy!! No what!!
Now- waiting for further seller meltdown....hurry up exchange date so I can relax!!

gemmamacxx

We’ve been ready to exchange now for 2 weeks after being set strict 28 day exchange deadline by the seller (the house we are buying is being sold to bell way home part exchange before we buy) and now they are refusing to exchange until the current owners vacate. We now have to exchange and complete on the same day (Monday 24th) I am jus praying that nothing else goes wrong as we now have no guarantee 😫  

The solicitor has sent a request to HSBC to enquire if the funds will be available for the completion date, does anyone know roughly how long it takes for the bank to get back to the solicitor? Also is it at this point that they will do the final credit check? 

[Deleted User]

27/07 Accepted off on partners flat
12/08 Viewed property we all fell in love with!
13/08 Offer place - Offer accepted!!!
I'm a FTB and I'm so nervous about everything with all the what ifs!

gemsy46

Finally looks like things are moving forwards for me,
I've had an email from my solicitor and my buyer’s solicitor has proposed a completion date for next Friday 21st August. 
Well, I best finish packing up the house, still got loads to do but I'm so happy

jaxkesa

I was hoping to exchange this month but just found out sellers had Help to Buy and have only just had valuation done today so now it's all dependant on Target processing it and providing Authority to Proceed etc. Anyone know how long that all takes?