The NEW waiting to exchange thread...

badger09

katie91_2 said:

badger09 said:

katie91_2 said:

Had our offer accepted mid-August. The chain formed within a few days, collapsed two weeks later as our vendor’s vendor pulled out. Formed again a couple of weeks later, now almost three months down the line the chain has collapsed again - again our vendor’s vendor pulling out (not the same one as last time).

I’m so fed up, we’re ready to exchange. How anyone ever buys a house is beyond me!

Oh that is bad news.

We're 2nd from top of chain of 5; had our vendor pull out 4 weeks ago, but persuaded back in by a hefty financial incentive, and the FTB's mortgage was downvalued last week, so our buyer & their buyer have agreed lower sale prices so FTB can proceed. Compromise all round but at least feels like everyone is committed. 

Hope you (or rather they!) get back on track soon.  

It’s so frustrating! Our vendors have said they’ll widen their search area and are keen to move, they found somewhere quickly the last two times and don’t seem too fussy so at least that’s encouraging. I do feel sorry for them!

We’re proceeding without selling our current property so we’re not in a rush to move, but want to complete before 31st March obviously. We’ve said to the EA we’ll wait for now, there’s no other houses available we like as much and could just end up with the same chain issues elsewhere, but I hate all the uncertainty!

Great that you can wait as you're not dependant on sale of your current house. Unfortunately, we are. In fact the sale is far more important to us than the purchase.

CBush86

As we exchanged yesterday, I was being super organised and set up with sky to switch our broadband and tv account over to our new address, I requested this for the day after completion so as to not annoy the vendors. As they have a working line/sky at the property already, sky had to ask our vendors permission for this. Turns out they have refused the request and cancelled our order! Now I'm worried thinking I shouldn't have done this and I've peed them off, but I wanted to avoid any delays in getting broadband set up as I am working from home at the moment! 😕 

Drawingaline

CBush86 said:

As we exchanged yesterday, I was being super organised and set up with sky to switch our broadband and tv account over to our new address, I requested this for the day after completion so as to not annoy the vendors. As they have a working line/sky at the property already, sky had to ask our vendors permission for this. Turns out they have refused the request and cancelled our order! Now I'm worried thinking I shouldn't have done this and I've peed them off, but I wanted to avoid any delays in getting broadband set up as I am working from home at the moment! 😕 

This is a huge worry for us too. If we don't move in November hubby won't be able to get any time off at all, so Jo idea what we will do!

Although our buyer still doesn't have a mortgage in place, market now flooded with our type of houses and nothing has come on as suitable as the one we have offered on. Told the EA in Tuesday that while we weren't pulling out, we will not be looking to extend out mortgage offer which expires end of Jan. Will see what happens, a months ago we were nearly ready, buyer changed lenders at the eleventh hour due to an unfavorable interest rate (they are landlords) and of course now lenders are taking even longer than they were in the summer 🤦 decided if it doesn't work out then it isn't meant to be, and while the additional space would be brilliant we don't HAVE to move right now. So if it happens it happens, and if not, we will re-evaluate in a year.

Still ridiculously frustrating though.

bec820

We've exchanged!
Completing Friday 13th!
It's been quite simple but extremely stressful waiting for things!
Decision in principle 8/08
Viewed house & offer accepted 10/08
 Full mortgage application sent 11/08
Searches started 01/09
Searches back 07/09
Mortgage offer received 5/10
Exchanged 5/11

CBush86

bec820 said:

We've exchanged!
Completing Friday 13th!
It's been quite simple but extremely stressful waiting for things!
Decision in principle 8/08
Viewed house & offer accepted 10/08
 Full mortgage application sent 11/08
Searches started 01/09
Searches back 07/09
Mortgage offer received 5/10
Exchanged 5/11

Congratulations!! 

Fruffy91

We where ready to exhange on the property we are selling and the new build we are buying. All of a sudden  the "investor" pulled out of the bottom of the chain. (Our buyers flat he had for sale). so our buyer had to find a new buyer for his flat before he could exhange on our house he is buying. He has found a new buyer (1st timer) for his flat in 1 week. But now our developer is getting itchy feet about everything. We still hold our reservation but for how much longer I dont know. As the conveying process has to start again for the sale of my buyers flat. 

tigerlily74

It’s now week 8 since we requested searches, still waiting for the local search. I’m so annoyed we weren’t given the option of the faster, more expensive local authority search over this ridiculously delayed personal search. I have gone from loving my estate agent to being really angry with them as they recommended this solicitor to us on the basis they would request the searches straight away and sell them to our buyer. They didn’t, they waited two weeks, and our house sold within 24 hours 😢. We have no chain, a cash buyer who is ready to go, and our house is now empty because the estate agent told me we’d be ready to complete on the 26th so we moved our last weekend stressing my whole family out and abandoning my house for nothing.

grk1964

Hello, if any of you have completed the house purchase process, can I ask how long you had to wait to exchange after your survey/searches were completed?

The survey has been completed on our property (no issues raised) and searches have also come back. We have a cash buyer and we are going into rented so no chain. However, we are in a difficult situation trying to sort out a rental property when we don't know when we are going to exchange. We can't sign a tenancy agreement until we have. Apparently our buyer's have sent enquiries through to our solicitor so hopefully they won't take too much time. How long do you think we have left to exchange? I know it varies case to case but just wondering what people's experiences are.

Thank you

ftbhoping

Yay, just had solicitor call to say that we’ve completed at 10am. To say I’m relieved is an understatement. 14 years of us renting and now I finally own. 🥳

CBush86

ftbhoping said:

Yay, just had solicitor call to say that we’ve completed at 10am. To say I’m relieved is an understatement. 14 years of us renting and now I finally own. 🥳

Yayyy congratulations!! Xx