The NEW waiting to exchange thread...

izoomzoom

/daveyw89 said:

Hi folks. Got my mortgage offer from the bank through in the post last Friday. I signed and returned one copy to them as instructed. I booked into the solicitor for Tuesday past there only for him to ring on Tuesday morning to say that he hasn’t received our mortgage offer from the bank yet. How long does this normally take? 

Also, from the stage of him receiving the copy and getting us in, how long should we roughly get the keys by? The vendor has already moved out of the property and it is lying vacant. 

I know our solicitor got mortgage offer on 29/7. Took till 13/8 to tell us that they would be ready to exchange & complete on the 21st. Unfortunately, vendor solicitor wasn't ready, so we are trying again for tomorrow. No chain.
Assume all your searches are through and no issues with them? You'll need to co-ordinate the hand over of the keys after you've completed. Is there an EA involved?

chillicheesedog

Signed documents and sent deposit. Solicitor has suggested exchange this Friday but hasn't heard back from seller. I can't imagine it's happening 😕

adierei

So after 5 weeks of no updates from our solicitor we got an email at 9.30pm from the partner at the law firm we’re using promising an update today before 11am and actually got one. Weird as we didn’t complain but the were very apologetic so must have been unnecessary delays. We have now agreed on a completion date of 11th September which is a little later than we originally wanted but at this point, any sort of date would have done! Will have taken 15 weeks from offer to completion if that date is stuck to. 

Hope everyone else in the same boat gets some good news soo.  

KeepOnKnitting

5th May - Mortgage agreed in principle 
26th May - Valuation survey
18th June - Mortgage offered
22nd June - Solicitors engaged
30th July - Chased everyone. Requested end of August Completion. Draft contracts received by my solicitor.
5th August - Searches completed. Deed signed. Corrections/enquiries sent back to seller's solicitor.
*Radio silence from seller's solicitor*
19th, 21st, 24th, 26th and 27th August - Everyone chases seller's solicitor.
At what point is it reasonable to say that the seller's solicitor is too slow? The seller and I just want some communication from the solicitor. The last time this property was sold it went from viewing to completion within two months. My mortgage offer expires on the 15th September. Do I start worrying yet?

PERMOTIO

KeepOnKnitting said:

5th May - Mortgage agreed in principle 
26th May - Valuation survey
18th June - Mortgage offered
22nd June - Solicitors engaged
30th July - Chased everyone. Requested end of August Completion. Draft contracts received by my solicitor.
5th August - Searches completed. Deed signed. Corrections/enquiries sent back to seller's solicitor.
*Radio silence from seller's solicitor*
19th, 21st, 24th, 26th and 27th August - Everyone chases seller's solicitor.
At what point is it reasonable to say that the seller's solicitor is too slow? The seller and I just want some communication from the solicitor. The last time this property was sold it went from viewing to completion within two months. My mortgage offer expires on the 15th September. Do I start worrying yet?

I'd keep on at the estate agent for an update, stressing you're in a position to move and would like some clarity. We've found that our EA has been great so far, serving as the middleman and ensuring both sides are doing everything they can do proceed as quickly as possible.

izoomzoom

KeepOnKnitting said:

5th May - Mortgage agreed in principle 
26th May - Valuation survey
18th June - Mortgage offered
22nd June - Solicitors engaged
30th July - Chased everyone. Requested end of August Completion. Draft contracts received by my solicitor.
5th August - Searches completed. Deed signed. Corrections/enquiries sent back to seller's solicitor.
*Radio silence from seller's solicitor*
19th, 21st, 24th, 26th and 27th August - Everyone chases seller's solicitor.
At what point is it reasonable to say that the seller's solicitor is too slow? The seller and I just want some communication from the solicitor. The last time this property was sold it went from viewing to completion within two months. My mortgage offer expires on the 15th September. Do I start worrying yet?

If your seller is not buying again, I'd start to worry. As far as I know, in a selling only situation, all the solicitor need to do is get contract signed and be waiting .... If you have an EA, get them to chase, emphasising your MO expiring on 15/9. Fingers crossed for you.

KeepOnKnitting

PERMOTIO said:

I'd keep on at the estate agent for an update, stressing you're in a position to move and would like some clarity. We've found that our EA has been great so far, serving as the middleman and ensuring both sides are doing everything they can do proceed as quickly as possible.

Thanks for the idea. It's a private sale though so no EA to hassle. Keep trying to speak to someone at the solicitors but I can't get through to any of the paralegals or solicitors actually dealing with the case. They just keep ignoring emails.

SharkMoney

My solicitor has told me that they need to inform our lender about a covenant and get their approval before they will release funds. How long will this take?????

Flugelhorn

twiddling thumbs, yesterday solicitors were all ready to exchange today ..... and now 1544 and radio silence, the wait is awful - last few times I have done this I have been at work and therefore distracted, but not today 

28tsw

SharkMoney said:

My solicitor has told me that they need to inform our lender about a covenant and get their approval before they will release funds. How long will this take?????

Took ours a week to reply to it then another week to approve the action.