The NEW waiting to exchange thread...

KateO78

28tsw said:

KateO78 said:

28tsw said:

We’re ready to exchange but buyer still not got mortgage offer. I’ve never stalked a company as much as I have the last month or so. Hurry up TSB!!

Our buyer is with TSB also, and they have been a nightmare- made mistakes, not corrected then etc... really stressful !

Did they offer and how quick/slow were they? We’re over 5 weeks waiting 

Yes in the end they made the offer (after delaying the valuation survey for 4 weeks due to having the wrong details) then the offer arrived with errors on the paperwork picked up by the solicitor... so had to go back to be re-issued which took 2 weeks of constant chasing from our buyer.  A real nightmare, finally the corrected mortgage offer is in, we are waiting to exchange- just waiting for 1 enquiry to be answered by TSB from her solicitor and then we are all systems go ! 

- I am nervous though as TSB have been dreadful all the way through 

zv13424

Just had an update from the solicitor to say enquiries following searches not back yet.. but sending out reports for us to sign in preparation!
Assume this means in preparation for exchange..?

lkc4777

Thought I'd join in and share our long running saga (we are FTB so bottom of the chain)

01/03 AIP all ready to go while viewing properties
10/3 Offer accepted
12/3 Instructed solicitor
19/3 Mortgage approved (valuation done just in time)
**Lockdown** - our vendors unable to view any properties
24/4 Searches requested
12/5 Searches back (surprisingly quick)
15/5 Survey done - nothing major
2/6 Vendors have offer accepted on property
9/6 Vendors vendor has offer accepted on chain free property
18/6 Vendors vendor decides to stay put and takes house off market
23/6 Vendors have offer accepted on chain free property
8/7 Stamp duty holiday announced and cheers everyone up
24/7 All our enquiries answered
29/7 Chased via EA - waiting on a search
14/8 Chased via EA - still waiting on search
18/8 Chased via solicitor - search back, awaiting enquiry

This feels never ending.... really need to have keys first week of September to get decorators and builders in during our notice period on current rented house.

Question: when it comes to exchanging how quickly can it happen? Could the solicitor call this afternoon and say we are exchanging on Friday or is it usually a few more days notice?

28tsw

KateO78 said:

28tsw said:

KateO78 said:

28tsw said:

We’re ready to exchange but buyer still not got mortgage offer. I’ve never stalked a company as much as I have the last month or so. Hurry up TSB!!

Our buyer is with TSB also, and they have been a nightmare- made mistakes, not corrected then etc... really stressful !

Did they offer and how quick/slow were they? We’re over 5 weeks waiting 

Yes in the end they made the offer (after delaying the valuation survey for 4 weeks due to having the wrong details) then the offer arrived with errors on the paperwork picked up by the solicitor... so had to go back to be re-issued which took 2 weeks of constant chasing from our buyer.  A real nightmare, finally the corrected mortgage offer is in, we are waiting to exchange- just waiting for 1 enquiry to be answered by TSB from her solicitor and then we are all systems go ! 

- I am nervous though as TSB have been dreadful all the way through 

That’s awful. They seem awful. I’m glad it’s moved on for you.

izoomzoom

lkc4777 said:

18/8 Chased via solicitor - search back, awaiting enquiry
Question: when it comes to exchanging how quickly can it happen? Could the solicitor call this afternoon and say we are exchanging on Friday or is it usually a few more days notice?

That enquiry really need to be resolved first.
In our case, on the 13th our solicitor suggested 21st, other solicitor must have confirmed back by 18th so we're set for 21st August.
I'd stress to your solicitor that you want to proceed immediately after enquiry satisfied, and throw in the fact that you have given notice on your rented place, and maybe bring the date back, so that they act in urgency. (We had this with our first purchase - finally E&C on the Wednesday - had to be out rented on the Saturday. Fortunately, 3 days was enough for us to move). 

lkc4777

izoomzoom said:

lkc4777 said:

18/8 Chased via solicitor - search back, awaiting enquiry
Question: when it comes to exchanging how quickly can it happen? Could the solicitor call this afternoon and say we are exchanging on Friday or is it usually a few more days notice?

That enquiry really need to be resolved first.
In our case, on the 13th our solicitor suggested 21st, other solicitor must have confirmed back by 18th so we're set for 21st August.
I'd stress to your solicitor that you want to proceed immediately after enquiry satisfied, and throw in the fact that you have given notice on your rented place, and maybe bring the date back, so that they act in urgency. (We had this with our first purchase - finally E&C on the Wednesday - had to be out rented on the Saturday. Fortunately, 3 days was enough for us to move). 

Thanks, yes I meant once the enquiry is resolved, I'm not familiar with the process of what happens next. I've stressed the urgency to everyone who'll listen but it doesn't seem to be hurrying anyone up! We've not given notice yet but have to as soon as we've exchanged as rent and mortgage for more than one month is not in the budget!

izoomzoom

@lkc4777 - how flexible is your landlord? I spoke to our's and they said they would be happy with go on a week by week basis if we ran over. We did deal with them direct, rather than an agent though and we were 3.5 months on from offer by the time E&C was done (with no chain & divorced vendors). 

KPyro

Desperate for a phone call today. More than a week ago everyone in the chain was saying "any date wb 24th" for completion. We all sorted a date through the EA (who has been excellent) and I thought it was then just a process of getting it formally confirmed by the solicitors. I then hear nothing and now the EA tells me essentially it is once again the vendor's solicitor who is holding things up by failing to respond to the other solicitors. Apparently the vendors are rightly ticked off because they have told him the date and are all ready to go just like us.
Problem is, if it spills over into September then we're at risk of completing at the start of our rental month and potentially having to pay for 2 properties for 2 months which we definitely can't afford. We weren't planning on giving notice until we had the keys in hand and had budgeted for a month's overlap.

Just hoping we get the date confirmed today!

Gonzo44

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!

We completed missives yesterday!  Now all I have to worry about is getting all the money (deposit and mortgage) to the solicitor with no issues, and then we are set for entry on Monday!!

withaspritz

23/06 - Our property goes on the market for sale with no chain (moving into rental whilst new build is, well, being built - complete Feb 2021)
28/06 - Viewing by what would become the buyer
28/06 - Offer accepted
29/06 - AML checks by EA begin
06/07 - AML passed. Instructed conveyancers
24/07 - Valuation visit by buyer's lender
28/07 - Mortgage offer received by buyer, searches applied for
07/08 - Solo enquiry requesting colour copy of lease due to green shaded car park showing as grey
10/08 - EA chased buyer's solicitor by email for update on searches / enquiries
11/08 - Potential defective lease query by buyer's solicitor
14/08 - Response back to buyer's solicitor - our side disagrees with issue raised

20/08 - Buyer's searches are back! And the lease query is confirmed resolved.  Moving on....