The NEW waiting to exchange thread...

CalamityJane1969

WE'VE EXCHANGED!!

It was meant to happen yesterday, but a last minute demand to change the completion date by our buyers stopped it. After verbally agreeing one date they then moved it back a couple of days with 'it's either that day or not at all'. All estate agents and solicitors were glad to see the back of him, he's been such a stubborn, annoying sod!

But we're finally there......will be having something large and alcoholic later!

michael1234

Congrats on exchanging!

I have a question. I'm wondering if our solicitor is updating us enough and we're just being impatient or whether they really are being slow? They're a local, small high street firm.

The timeline is:

Monday, 17 July: We handed in our completed purchase and sale documents along with original ID to their office in person.

Thursday: They contact me and ask for some clarifications around the documentation which I provide same day.

Then a whole week later on Thursday 27 July, the confirm they've send the draft contract to the buyers.

On friday my wife calls up and was told they are preparing (or have prepared) some questions to our vendor's solicitor. That day we also find out the vendor sent their draft contract 11 days earlier on the 17.

On Tuesday this week we called again and they said they'd now had responses to their questions to the vendors but our solicitor needs to check them. We've also been told our searches are back but not the "local searches". (Is that local authority searches maybe?)

Anyway is that timeline slow, about right or going quickly? To me it feels really slow.....

cjmillsnun

Finally joining this thread as my written offer has finally arrived today:j:j

I've got to this stage before though and had issue as the property we are buying has solar panels on a rent to roof scheme. There is no chain as this we are FTB and we are buying from the executors of a deceased person's estate.

The vendors have agreed to buy out the lease on the airspace on completion and we will be left with the panels and get the FiT.

The previous mortgage lender (a sub prime lender) wanted the lease bought out and fully terminated before completion. However the new lender (Halifax) are happy with the original plan.

All the searches are done. The details for the two enquiries have already been got from our previous application and I think we could be ready to exchange within the week.

kilby_007

We're 6 weeks into the process now but we've spent the last 2 weeks making very slow progress. The property has an unregistered title and there's been 8 queries raised in relation to that, plus we'll have to make the first registration at the land registry (another £170 added to our solicitors bill). The vendor couldn't answer one of the queries and there's some paperwork missing in relation to restricted covenants so they've been asked to take out an indemnity policy (still waiting their response). We're going to the solicitors on Friday to sign our contracts, so I'm hoping if the vendors pull their finger out and get the insurance sorted, we'll be able to exchange and complete in the next week.

R&C

We had our offer accepted on 15/6
We've signed our contract & mortgage deed & answered some of our buyers queries, just need to pass them all back to the solicitor tomorrow. Waiting on all the searches coming back (should be any day now apparently). We need to pay for a couple of Indemnity policies & wait to hear back re some queries from our seller. We'd like to exchange before we go away at the end of the month, but not complete until 22/9, our solicitor seems to think this is realistic. Let's hope so!

happytails

Well some progress has been made here but I'm still unsure as to whether our buyer is pulling out - this started on Friday.

Short backstory, she bought it for £107k and then got survey back and wanted it for £100k - we said no we can do £106k.

So yesterday, 3 days later than the initial price renegotiation she comes back with £103,500 again I said no and reiterated I cannot go lower than 106k. In the meantime my agent calls my seller (top of chain) and informs that our buyer is likely pulling out, cue, my seller calls me, and offers us a cash on completion offer on the remaining £2500 for our seller to keep her happy. I call my seller (yes we all exchanged numbers, mostly due to keeping times down for getting to completion in 6 weeks) my seller seems happy with the arrangement but will 'let it sink in' and text me in the morning.

Now if she takes it then great, we all get what we want. If she doesn't that's it, back to readvertising the house. Can't see why she wouldn't take it. It would all be done through the solicitors.

SunnySwansea

The not knowing and the waiting is the WORST


We originally agreed an offer on our house after it was only on the market for a few days at the end of April. We waited 5 weeks for nothing to happen. Turned out the buyer was unable to get a buy to let mortgage. How they were ever even allowed to put a mortgage offer in without being checked out beforehand was a joke - Joys of purple bricks!. House went back on the market on the 1st June, had a few viewings then but no offer. We then had a couple view on the 6th July and subsequently put an offer in which we accepted on the 8th July. Solicitors have been instructed, mortgage valuation done and now just waiting for their surveyor to confirm a date and time for survey. All is going well so far but after last time still feel really dubious. Fortunately we are buying a family members home so at least we have somewhere but I've already told my husband that if this sale doesn't work out then I'm happy to stay put in my current home. The whole process is quite stressful. Purple Bricks are crap - you get what you pay for. You don't hear from them. When we were dealing with our previous buyers who couldn't get a mortgage if ever we rang our rep she was quite awkward on the phone to the point we haven't telephoned her since the house went back on the back at the beginning of June. She was very lovely when we signed up and took photos but literally no contact from then on in. I certainly wouldn't sell with them again. Not impressed and will be filing a complaint once the sale is sorted to complain about the fact someone was allowed to put an offer in with no AIP and we were kept waiting for 5 weeks with no update. We only put the house on the market after we gave them a 2 day deadline to at least instruct solicitors and didn't hear from them. The couple who are buying now seem switched on and are already asking about potential completion dates but for now I'm just waiting and seeing. I'm never doing this again lol!! Love seeing these threads which are really informative and at least I know that I'm not the only one who feels like reaching for a wine bottle everyday lol!! Hope you all get the news and updates your waiting for soon

AprilR

Yay! We completed on Friday, I picked up the keys around lunch time and then waited for my other half to finish work at six. We went in and showed family around, then cleaned the kitchen. It was really grubby (we still have only half attempted to scrub the oven). The place has been empty for a while, so there are spiders everywhere (which neither of us are good with). Our parents helped us move and mine have managed to meet a lot of neighbours whilst we were loading the van elsewhere, so I've only met one. A lovely neighbour put a card through our door and put their number in if we need help and also refuge collection days, so that was really nice. We've filled two rooms with our stuff so that needs sorting. Was back to work on Sunday morning, earlies every day, so I'm knackered, but we're getting there. Hope everyone else is getting on okay 😊

happytails

Our buyers pulled out so we are pretty much back to square one except we have our mortgage in place for the place we want.

We had a viewer today, he seemed to like it, said he had more houses to view on Friday. Fingers crossed.

My timeline -
Offer received and accepted on our house 17/07
Offer made and accepted on the house we want 17/07
Solicitors Instructed 17/07
Meeting with mortgage advisor, all docs given 18/07
Mortgage application submitted to Nationwide 19/07
Documents picked up and filled in from Solicitor 19/07
Documents and ID returned to Solcitor 20/07
Valuation booked 20/07
Solicitor composes draft contract & starts local searches 25/07
Valuation carried out 26/07
Solicitor gave us our fixtures and fittings form for purchase and requested marriage certificate 26/07
My buyers valuation carried out 27/07
Mortgage offer given 27/07
Buyer wants to pull out 28/08
Buyer starts to renegotiate price 29/09
We meet in the middle at the amount the buyer would proceed with 01/08
Buyer officially pulls out 02/08

Ill pop my head in here with any progress and hope to rejoin you all soon xx

davilown

So sorry for you Happytails - fingers crossed you'll be ok and manage to get the house. We know how you feel having lost 2 buyers so far.