The NEW waiting to exchange thread...

Tiglet2

uppercaseesteban 
You are paying your solicitor to look at the legal title, rights and obligations of the property you are about to purchase.  It's nothing to do with how long a chain is but more to do with doing the job properly.  I'm sure you don't want the solicitor to let you go ahead and buy something that doesn't give you access rights to your driveway or next door's driveway etc, when you most definitely need them.  There also appears to be a leasehold element to your purchase.  Is it a leasehold house?  Will the seller need to obtain a management pack?  Leasehold will take longer than a freehold.

Unfortunately "hounding" your solicitor/EA doesn't assist.  When everyone has done what they need to do, when all the paperwork has been provided and appropriate enquiries have been completed satisfactorily, when all problems shown up by the paperwork and investigations have been resolved, when everyone confirms that they are happy with the outcome of the investigations and they are happy with the replies and paperwork provided........... you can exchange contracts and fix a completion date.

There are too many variable so it is therefore difficult to predict a completion date.  Your solicitor (and most certainly your EA) will not know when you'll be ready, until you're ready.  The EA will know little more than you, other than they can chase up and down the chain to procure information.  Whether that information is accurate or not, the EA won't know.  The EA wants it to complete so they earn their commission, but they do not care for the legalities, that is not their area of knowledge.

Please do not give your landlord notice until you have exchanged.  You risk becoming homeless otherwise and you will have no comeback at all if you decide to do this.

Lancs1234

Lancs1234 said:

On to a new week.... heard on Friday that our solicitor and their solicitor are pushing the vendor for completion this Friday 28th but the vendor wasn’t responding. Hopefully he was just checking that he can move everything by then. 

As the property is only a mile from when I’m currently living we had a drive past yesterday, seems the living room is full of boxes so he’s either getting ready or having plenty of deliveries! 

Had an email to say the vendors solicitors sent over some information and said that they should be ready to complete Friday, and was told I'd get an email either yesterday evening or this morning to confirm... Well nothing yet, starting to thing there could be a problem. Solicitor said if it's not agreed and sorted today then it's likely not going to be Friday.

jemuk1

We're still waiting for our buyer to send her deposit to allow exchange and completion on Friday! 
We've had an email to say that our mortgage funds are being released on Thurs. 
Just getting impatient waiting for our buying to transfer her deposit to the solicitor.
Just wish we could skipped to Saturday and everything be ok!

Chrisabian

Chrisabian said:

KateO78 said:

Chrisabian said:

Chrisabian said:

Good luck to anybody hoping to exchange/complete this week!
After a 30 minute call to our lender Clydesdale, bypassing the broker because one is on holiday, and the backup hasn't replied to email or phone call (don't rely on anyone else, seriously, just chase it yourself) - they initially couldn't find our fund release request, so god knows what our Solicitor put as the subject line, but I gave them all of our solicitors details, they called her, found it, and it will be processed today. Completion is 26th.

By far and away the most stressful process I've ever had to do, we're first time buyers as well so completely new to it, and it's been a horrible experience. Still not getting any hopes up until those keys are in my hands.

Clydesdale sent our funds through, now our sellers cant get theres through from HSBC! Arghhhh!! We are a bank transfer away from exchanging today and completing tomorrow. One in the chain won’t exchange and complete on the same day so it HAS to be today. Come on, we are due some luck!!! HSBC had the funds request before Clydesdale too, what on earth is taking so long!!!

Good luck !!!
im also stressed today - all ready to exchange yesterday but buyers solicitor was out of the office ..... so we are hoping for today 😬😬  I’m worried incase there is an issue and that’s why we were being told he was ‘out of office’ .... super stressed today !!!!!

All the best to you too!!
We set a 1pm deadline, and our seller has just received their mortgage funds with 32 minutes to spare. Now preparing to exchange this afternoon!! Can't quite believe this has been pulled off...

Absolutely absurd situation developed yesterday afternoon - we're all sat waiting to exchange, when the top of the chains solicitors discovered they had an error with paperwork at 3pm. Their buyer had to go and knock on the vendors door and tell them to get down the solicitors and correct it. Farcical. We still have not exchanged, so it's going to be exchange and complete today.
Absolutely disgusting how it's come to this; all the delays, snail-pace movement, and then this yesterday. Last night may have been my last in my family home and we just didn't know if it actually was. Our first home and we still don't know at 9am if we are moving today.

kasqueak

Chrisabian said:

Chrisabian said:

KateO78 said:

Chrisabian said:

Chrisabian said:

Good luck to anybody hoping to exchange/complete this week!
After a 30 minute call to our lender Clydesdale, bypassing the broker because one is on holiday, and the backup hasn't replied to email or phone call (don't rely on anyone else, seriously, just chase it yourself) - they initially couldn't find our fund release request, so god knows what our Solicitor put as the subject line, but I gave them all of our solicitors details, they called her, found it, and it will be processed today. Completion is 26th.

By far and away the most stressful process I've ever had to do, we're first time buyers as well so completely new to it, and it's been a horrible experience. Still not getting any hopes up until those keys are in my hands.

Clydesdale sent our funds through, now our sellers cant get theres through from HSBC! Arghhhh!! We are a bank transfer away from exchanging today and completing tomorrow. One in the chain won’t exchange and complete on the same day so it HAS to be today. Come on, we are due some luck!!! HSBC had the funds request before Clydesdale too, what on earth is taking so long!!!

Good luck !!!
im also stressed today - all ready to exchange yesterday but buyers solicitor was out of the office ..... so we are hoping for today 😬😬  I’m worried incase there is an issue and that’s why we were being told he was ‘out of office’ .... super stressed today !!!!!

All the best to you too!!
We set a 1pm deadline, and our seller has just received their mortgage funds with 32 minutes to spare. Now preparing to exchange this afternoon!! Can't quite believe this has been pulled off...

Absolutely absurd situation developed yesterday afternoon - we're all sat waiting to exchange, when the top of the chains solicitors discovered they had an error with paperwork at 3pm. Their buyer had to go and knock on the vendors door and tell them to get down the solicitors and correct it. Farcical. We still have not exchanged, so it's going to be exchange and complete today.
Absolutely disgusting how it's come to this; all the delays, snail-pace movement, and then this yesterday. Last night may have been my last in my family home and we just didn't know if it actually was. Our first home and we still don't know at 9am if we are moving today.

Omg that’s terrible. How frustrating for you all. That’s my fear when we get to the day and some silly problem holds it up. We’ve had so many niggly enquires back and forth I worry something will be missed. Not that we have an exchange date yet. I know you have to put your trust in the solicitors but it’s hard!
fingers crossed for you that it all works out today

KateO78

Chrisabian said:

Chrisabian said:

KateO78 said:

Chrisabian said:

Chrisabian said:

Good luck to anybody hoping to exchange/complete this week!
After a 30 minute call to our lender Clydesdale, bypassing the broker because one is on holiday, and the backup hasn't replied to email or phone call (don't rely on anyone else, seriously, just chase it yourself) - they initially couldn't find our fund release request, so god knows what our Solicitor put as the subject line, but I gave them all of our solicitors details, they called her, found it, and it will be processed today. Completion is 26th.

By far and away the most stressful process I've ever had to do, we're first time buyers as well so completely new to it, and it's been a horrible experience. Still not getting any hopes up until those keys are in my hands.

Clydesdale sent our funds through, now our sellers cant get theres through from HSBC! Arghhhh!! We are a bank transfer away from exchanging today and completing tomorrow. One in the chain won’t exchange and complete on the same day so it HAS to be today. Come on, we are due some luck!!! HSBC had the funds request before Clydesdale too, what on earth is taking so long!!!

Good luck !!!
im also stressed today - all ready to exchange yesterday but buyers solicitor was out of the office ..... so we are hoping for today 😬😬  I’m worried incase there is an issue and that’s why we were being told he was ‘out of office’ .... super stressed today !!!!!

All the best to you too!!
We set a 1pm deadline, and our seller has just received their mortgage funds with 32 minutes to spare. Now preparing to exchange this afternoon!! Can't quite believe this has been pulled off...

Absolutely absurd situation developed yesterday afternoon - we're all sat waiting to exchange, when the top of the chains solicitors discovered they had an error with paperwork at 3pm. Their buyer had to go and knock on the vendors door and tell them to get down the solicitors and correct it. Farcical. We still have not exchanged, so it's going to be exchange and complete today.
Absolutely disgusting how it's come to this; all the delays, snail-pace movement, and then this yesterday. Last night may have been my last in my family home and we just didn't know if it actually was. Our first home and we still don't know at 9am if we are moving today.

Oh... this is a nightmare !!!!!!  I can't understand when they do this everyday that the solicitors allow it to get like this.  I fear we are going into the same situation..... we were going to exchange yesterday then at 2pm our buyers solicitor at the bottom of the chain decided he wanted to exchange tomorrow instead as was waiting on something to be confirmed.....  we are supposed to complete tomorrow and like you right now I have no idea if we are actually moving, whilst being surrounded by boxes with the removal company booked !  Our vendors are losing faith as every time we are told it is all good to go we have relayed that to them only to have it postponed at the final hour.
Good luck for us all today !!!!!!

KateO78

jemuk1 said:

We're still waiting for our buyer to send her deposit to allow exchange and completion on Friday! 
We've had an email to say that our mortgage funds are being released on Thurs. 
Just getting impatient waiting for our buying to transfer her deposit to the solicitor.
Just wish we could skipped to Saturday and everything be ok!

We are in the same situation but 1 day earlier, this is super stressful, I am trying to wait until 10am to start chasing our solicitors..... it is really hard not knowing if you are moving or not but having no choice but to prepare as if you are !

uppercaseesteban

Tiglet2 said:

uppercaseesteban 
You are paying your solicitor to look at the legal title, rights and obligations of the property you are about to purchase.  It's nothing to do with how long a chain is but more to do with doing the job properly.  I'm sure you don't want the solicitor to let you go ahead and buy something that doesn't give you access rights to your driveway or next door's driveway etc, when you most definitely need them.  There also appears to be a leasehold element to your purchase.  Is it a leasehold house?  Will the seller need to obtain a management pack?  Leasehold will take longer than a freehold.

Unfortunately "hounding" your solicitor/EA doesn't assist.  When everyone has done what they need to do, when all the paperwork has been provided and appropriate enquiries have been completed satisfactorily, when all problems shown up by the paperwork and investigations have been resolved, when everyone confirms that they are happy with the outcome of the investigations and they are happy with the replies and paperwork provided........... you can exchange contracts and fix a completion date.

There are too many variable so it is therefore difficult to predict a completion date.  Your solicitor (and most certainly your EA) will not know when you'll be ready, until you're ready.  The EA will know little more than you, other than they can chase up and down the chain to procure information.  Whether that information is accurate or not, the EA won't know.  The EA wants it to complete so they earn their commission, but they do not care for the legalities, that is not their area of knowledge.

Please do not give your landlord notice until you have exchanged.  You risk becoming homeless otherwise and you will have no comeback at all if you decide to do this.

Hey, 
Thanks for the reply. You are correct the house we are purchasing is leasehold. All the local searches, paperwork (deeds, title, fixtures and fittings, contract etc) are back for the house we are purchasing, the leasehold agreement and management pack (a nominal fee that is not collected) is in and we have been sent them. We are not waiting on anything to come back for the property we are purchasing. Our solicitor has all of the required information from us. The delay currently is the searches that the vendors 'vendors' solicitor has to undertake for the property they are moving to. Something they could have applied for at least 4 weeks ago. Until these are in there does not seems to be the appetite from their solicitor to set an exchange date or a completion date which is understandable. The last update from our solicitor is 'awaiting appointment for exchange'.
From our experience so far nothing moves on or news is not passed to us until we call our solicitors eg. waiting on local searches coming from vendors solicitors, told it will be 3 weeks, we call for an update after 2 and a half weeks and it turns out they came in to our solicitors 4 days before. That feels like '4 days wasted' when we would be chasing up the next thing. This is why I felt we are being too passive, I want to avoid more wasted days while something sits in someones inbox not looked at or at the bottom of a pile. We have no plans to give notice on our rental until we have exchanged. Ideally we want a completion date agreed to by the end of August (in 6 days time). A date sometime between Sept 1st and Sept 30th so we can give our 30 days notice on our rental and not have to pay full rent for October (we are on a month to month contract). 

izoomzoom

Destressing vibes, deep breathes and the stars all being aligned for all those of us hoping to exchange / complete this week.

Our solicitor has now confirmed that the vendor's solicitor will be ready to complete on Friday, so hopefully we are good to go, AGAIN!

KPyro

I am so happy to say we actually managed same day exchange and completion yesterday! I have the keys sitting in front of me as I type this. We're FTB in a rented property so have the luxury of taking our time to move as we're stuck with a 1 month overlap anyway so tomorrow is set to be move in day for us.

Thank you so much to everyone on this thread, I know I haven't been the more frequent poster but it has been so relieving to be able to vent and share here when things felt confusing and frustrating. Fingers crossed for everyone else hoping for news and progress this week!