The NEW waiting to exchange thread...

atrixa

Tabitharocks said:

atrixa said:

After a ton of stress last week, we've now agreed to a new purchase price, so I'm just waiting on getting the reduction to the mortgage sorted then it should be all go.

Hiya... im currently going through the same thing... i emailed the EA with a price suggestion (due to excessive damp) and haven't heard a thing since Monday.  How long did your negotiations go on for out of interest?

A week all in all. The vendors tried to get the company who did the DPC to guarantee the remedials but quickly gave up when I pointed out all the caveats on the guarantee. Ended up settling on a grand over what I requested as the reduction, which is fine considering I would have lost more than that had it fell through. I got my mortgage reduced today so it's progressing nicely!

Secretsusie

Joining the fun. 
Offer made and accepted  from cash buyer 19/9.
Offer made and accepted on purchase 21/9. Downsize so no mortgage involved. Property empty so no chain. 
Solicitor instructed 22/9. Searches ordered 24/9.
Buyers ID and proof of funds accepted 28/9.
Sellers information pack competed and returned 2/10.
Survey booked for purchase 9/10. 
Hoping for exchange and completion before the end of November.  



 

bec820

How quickly can solicitors get everything ready to exchange?
There are 4 in the chain and everyone was waiting on us to get our mortgage offer, which we finally now have. All along I have said that we would like to  move in half term week and my solicitor says that might be ok but there doesn't seem to be any urgency from him or anyone? 

badger09

bec820 said:

How quickly can solicitors get everything ready to exchange?
There are 4 in the chain and everyone was waiting on us to get our mortgage offer, which we finally now have. All along I have said that we would like to  move in half term week and my solicitor says that might be ok but there doesn't seem to be any urgency from him or anyone? 

How long is a piece of string?

For everyone in your chain:
have all the searches come back?
have all the enquiries been answered to everyone's satisfaction?
is everyone in the chain working towards the same completion date? 

FWIW, we are also looking to complete during half term week, at the request of our purchasers. BUT our solicitor hasn't yet told us the searches are back on our purchase. Our contract papers went to purchasers' solicitors 17th September and we've heard nothing since then. Solicitor sent enquiries to our vendors' solicitors 22nd September - again nothing heard since.

I think end of October is ambitious for our chain and probably for yours too.

Solicitors/conveyancers don't feel the 'urgency' that buyers and sellers do. They're not emotionally, or financially, invested in the process. Its just another one for them to deal with, alongside the dozens of others they're dealing with day in day out.

PS although I can rationalise all this, I'm probably as stressed and frustrated by the lack of control as anyone else in this situation.   

bec820

badger09 said:and 

bec820 said:

How quickly can solicitors get everything ready to exchange?
There are 4 in the chain and everyone was waiting on us to get our mortgage offer, which we finally now have. All along I have said that we would like to  move in half term week and my solicitor says that might be ok but there doesn't seem to be any urgency from him or anyone? 

How long is a piece of string?

For everyone in your chain:
have all the searches come back?
have all the enquiries been answered to everyone's satisfaction?
is everyone in the chain working towards the same completion date? 

FWIW, we are also looking to complete during half term week, at the request of our purchasers. BUT our solicitor hasn't yet told us the searches are back on our purchase. Our contract papers went to purchasers' solicitors 17th September and we've heard nothing since then. Solicitor sent enquiries to our vendors' solicitors 22nd September - again nothing heard since.

I think end of October is ambitious for our chain and probably for yours too.

Solicitors/conveyancers don't feel the 'urgency' that buyers and sellers do. They're not emotionally, or financially, invested in the process. Its just another one for them to deal with, alongside the dozens of others they're dealing with day in day out.

PS although I can rationalise all this, I'm probably as stressed and frustrated by the lack of control as anyone else in this situation.   

Thanks for your reply!
Yes all searches are back and no outstanding queries. 
I think I just find it so frustrating as it's out of my hands and I am by nature an organised and prompt person 😂
Good luck with your move 

badger09

bec820 said:

badger09 said:and 

bec820 said:

How quickly can solicitors get everything ready to exchange?
There are 4 in the chain and everyone was waiting on us to get our mortgage offer, which we finally now have. All along I have said that we would like to  move in half term week and my solicitor says that might be ok but there doesn't seem to be any urgency from him or anyone? 

How long is a piece of string?

For everyone in your chain:
have all the searches come back?
have all the enquiries been answered to everyone's satisfaction?
is everyone in the chain working towards the same completion date? 

FWIW, we are also looking to complete during half term week, at the request of our purchasers. BUT our solicitor hasn't yet told us the searches are back on our purchase. Our contract papers went to purchasers' solicitors 17th September and we've heard nothing since then. Solicitor sent enquiries to our vendors' solicitors 22nd September - again nothing heard since.

I think end of October is ambitious for our chain and probably for yours too.

Solicitors/conveyancers don't feel the 'urgency' that buyers and sellers do. They're not emotionally, or financially, invested in the process. Its just another one for them to deal with, alongside the dozens of others they're dealing with day in day out.

PS although I can rationalise all this, I'm probably as stressed and frustrated by the lack of control as anyone else in this situation.   

Thanks for your reply!
Yes all searches are back and no outstanding queries. 
I think I just find it so frustrating as it's out of my hands and I am by nature an organised and prompt person 😂
Good luck with your move 

Ditto!

watermelonspring

I think this process is the most stressful thing I’ve been through so far!

Arghbloodyhouse

watermelonspring said:

I think this process is the most stressful thing I’ve been through so far!

I'm so with you! My sleep is all over the place! 

Hannimal

COMPLETED!!!

11/07 (Saturday) Viewed property. Offered, offer rejected with counter offer, I agreed to the counter offer and seller agreed
13/07 (Monday) Mortgage in principle issued through a broker and I instructed a solicitor 
14/07 Mortgage application submitted by the broker
14/07 Requested survey through mortgage company (Platform)
24/07 Survey instructed (Platform is incredibly slow)
26/07 Searches came back
14/08 Survey & valuation performed
19/08 Survey results back - showed some problems
25/08 Mortgage offer issued
03/09 Seller tells me all parties (except me) are ready to exchange (5 household chain)
04/09 Went around the house with a builder for some quotes re: problems and negotiated retaliation with sellers
10/09 Replies to all enquiries finally sorted
11/09 Agreed on exchange and completion date (25/09)
11/09 Requested closing statement for HTB ISA from Natwest
14/09 Completion date changed from 25th to 28th, agreed exchange on 21/09
18/09 Received closing statement got HTB ISA 
21/09 Completion date changed from 28th to 5th October
21/09 Failed to exchange due to above
22/09 Exchanged
05/10 Completed. Phew!

bearclaws

Got my mortgage offer on Saturday, finally, it took so long everything else is sorted except some outstanding enquiries. Solicitors won't discuss a completion date until the enquiries are back and my LISA provider (Nutmeg) have confirmed they'll release funds. So more waiting for seller's solicitors to respond to enquiries! This process is never-ending!