The NEW waiting to exchange thread...

ftb_1995

Hopeful for a completion for 27th! Fingers crossed we can at least be ready to exchange this week.. 

sarcal3813

Replies from searches queries have only just been dealt with by our solicitor, in your experience, how quickly afterwards have you exchanged? 

FinallyStoppedLurking

FinallyStoppedLurking said:

Putting this here for my own records as much as anything:
Offer accepted 20/6
Solicitor contacted (but told not to start work) 22/6
Mortgage Offer received 9/7
Chain completed: 27/8
Solicitor instructed to start searches: 31/8
All searches and responses to enquiries received 14/10

Now we are just waiting on the buyers further up the chain who didn't instruct a solicitor until the start of October. 

Update for those who like to know how sales are progressing:
We exchanged yesterday for completion on the 19th.
5 months from acceptance to completion, 3 months between chain being finalised and completion. 

chirpychick

Hi everyone. It's been a bit stressful since I last posted!
Here's where I am at...
Offer accepted on ours from investment buyer: 09/10/20
Offer accepted on purchase: 13/10/20
Instructed Solicitors: 16/10/20
Applied to port mortgage: 16/10/20
Memo of sale on ours: 16/10/20
Filled in and returned all paperwork to solicitor: 20/10/20
Interim redemption statement: 21/10/20
Buyers survey competed on our house: 22/10/20
Paid money on account with solicitors: 22/10/20
Id checks complete and verified: 23/10/20
Draft contract sent to buyer: 23/10/20
Mortgage porting agreed in principle: 23/10/20
Santander finally accepted proof of funds: 06/11/20
AND THEN 
For the last 2 weeks there has been back and forth over the lady we are buying from and it's not her fault at all but more likely rubbish being fed to me by the estate agent. We were told she was motivated to move, wanted to be in before Christmas etc but in 5 weeks she hadn't found anywhere (fine except we were told she wanted to be out ASAP) our buyer was starting to get twitchy and then a house we had looked at before got reduced by 25k which meant it might have actually been possible for us. We viewed it on 07/11 and fell in love with it - beyond our wildest dreams/expectations/dream house scenario. SO...
Offer of less went in and was ACCEPTED!: 07/11/20
Spoke to Mortgage Co, Estate agents, Solicitors, Surveyors etc to inform of change of purchase property: 08/11/20
Memo of sale received: 10/11/20
I feel bad for pulling out on the other lady but this feels like it was meant to be. Plus now we are only in a chain of 3. 

sarcal3813

Contracts received today to sign and send back awaiting exchange. How long does that take? 

FinallyStoppedLurking

sarcal3813 said:

Contracts received today to sign and send back awaiting exchange. How long does that take? 

Is everyone in the chain ready to exchange? Have you agreed completion dates? Have the others parties signed? Have you given permission to exchange? If yes to all 4 then I'd expect them to exchange ASAP.

We signed on Friday and exchanged yesterday. We were in a position to sign 4 weeks ago but decided to wait as there was no benefit to signing that early. 

Jadek

sarcal3813 said:

Contracts received today to sign and send back awaiting exchange. How long does that take? 

I think in part it depends how quick the solicitors are and whether everyone else in the chain is ready to exchange. 
We signed our contract papers and sent them back 3 weeks ago now, but then found out our vendor wasn't ready. They are now ready as of last week, but we still don't have a date for exchange as their solicitor takes days or even weeks to respond to anything. Hopefully the solicitors involved in your transaction are more efficient, but maybe best to prepare for waiting a while longer, then be pleasantly suprised if it happens quickly! 

Splatfoot

FinallyStoppedLurking said:

sarcal3813 said:

Contracts received today to sign and send back awaiting exchange. How long does that take? 

Is everyone in the chain ready to exchange? Have you agreed completion dates? Have the others parties signed? Have you given permission to exchange? If yes to all 4 then I'd expect them to exchange ASAP.

We signed on Friday and exchanged yesterday. We were in a position to sign 4 weeks ago but decided to wait as there was no benefit to signing that early. 

We signed and sent back weeks ago. Are all surveys done, everyone happy? Mortgage offers in? It could be a week, it could be six. 

Drawingaline

So after losing our buyer on Saturday we have accepted an offer today! First person to see it after going back on the market offered 5k under which matches the buyer we lost. Just waiting to hear back for definite, but means we keep our purchase which is ready to exchange and are hopeful it will all go through before our mortgage offer expires at the end of Jan. Would love to be done by Xmas, but I am realistic so probably mid Jan. Keeping everything crossed. Told EA if this one doesn't work our we won't be trying again.

CBush86

Drawingaline said:

So after losing our buyer on Saturday we have accepted an offer today! First person to see it after going back on the market offered 5k under which matches the buyer we lost. Just waiting to hear back for definite, but means we keep our purchase which is ready to exchange and are hopeful it will all go through before our mortgage offer expires at the end of Jan. Would love to be done by Xmas, but I am realistic so probably mid Jan. Keeping everything crossed. Told EA if this one doesn't work our we won't be trying again.

Brilliant news! 🤞 Keeping everything crossed that you will be in your house as quickly as possible!