The NEW waiting to exchange thread...

Strum88

Mineral1 said:

What's the covid rider, how does it actually work?

Without going into the details, it basically says that buyers agree to defer the completion date should there be any covid related issues which will prevent moving. 

rebs

rebs said:

Timeline for our purchase...
23/9 - offer accepted.
1/10 - mortgage application submitted (bit of back and forth with broker).
20/10 - mortgage offer received.
21/10 - solicitor says searches have been received along with responses to enquires.
9/11 - Survey scheduled (only a desktop valuation offered by mortgage lender).

Vendor is aiming for completion on 27th November.
We have already completed on our sale - that happened on Friday.  Sold to a developer who originally made us an offer back in June 2018.  In the meantime, a new job has led us to relocate so we have been renting a flat in the new location, which has enabled us to separate out our sale and purchase.

11/11 - Survey results back.
Getting close for us - hoping to exchange today. Once we had our survey results back, we were ready to exchange last week, but the vendors weren't quite ready.  Had communication from the estate agent today that the vendors are now ready.  Shame it couldn't have been done last week as our solicitor will charge an additional £175 + VAT if we have less than 2 weeks between exchange & completion.  

rebs

Exchanged today!  Completion 27th November.  

SoTiredTho

So on house purchase attempt mkII this year (first one fell through because someone up the chain had a solicitor who apparently forgot to do the coal mining searches in a mining town. Obviously that didn't go well.) 

-Offer accepted 02/10
-MoS finally sent over (after a lot of back and forth) on 21/10, solicitor instructed to proceed.
-Survey 16/11 (waiting for the results)
-Also 16/11 our solicitor dropping an email to ask if we wanted them to proceed with searches. Cue a little bit of internal screaming and a polite email saying "Yes please, you should already have received our payment for the searches a few weeks ago.".

Our vendor is hoping to complete in early January, hoping that our solicitor holding up the searches won't cause too much issue. Feels like we might be pushing our luck a bit to expect that timescale! 

allIcouldwishfor

SoTiredTho said:

-Also 16/11 our solicitor dropping an email to ask if we wanted them to proceed with searches. Cue a little bit of internal screaming and a polite email saying "Yes please, you should already have received our payment for the searches a few weeks ago.".

Our vendor is hoping to complete in early January, hoping that our solicitor holding up the searches won't cause too much issue. Feels like we might be pushing our luck a bit to expect that timescale! 

Our transaction started last week, our searches are being applied for today and our estimated completion dates are somewhere between 12-26 Jan, so you *might* be in with a chance of hitting that early Jan timeframe.

fiwen30

rebs said:

Exchanged today!  Completion 27th November.  

Same! Completing on Thursday 26th!

Navigaor31

Had an email telling us to request our help to buy statements and saying something along the lines of... 

"We have your drainage searches back and are just waiting on local searches, which shouldn't be much longer...then we are in a position to talk about completion dates".

Obviously there could still be a hell of a time frame here. But to heard the words "talk about completion dates".   Is absolutely lovely words too hear. 
I don't THINK we will be in by Christmas.... But if we were... It would be Hella exciting. I know the people we are buying off want out as soon as... Just hoping rest of the chain is the same! 

wazza07

After a very long and stressful 13 months we finally exchanged today! We put our house on the market in Oct 2019 and it sold within a week. By the end of Nov 2019 the chain was complete. COVID ruined all that and our vendor was not willing to move once lockdown was lifted. We made the decision to go into rented and completed on the sale of our house at the end of June 2020. 

We were tremendously lucky and had a offer accepted on another house at the start of July. It’s been slow and stressful - mortgage offer, valuation and survey took nearly 2 months to come through. Luckily our searches and conveyancing was pretty quick!  We also had to contend with a down valuation as well as issues with a lack of building regulations (we actually pulled out at one point). We battled through all that and finally the end is near! NEVER and I mean NEVER am I moving again. I can’t wait to get back to a sense of normality! We’ll also get a refund on our ERC as we’re completing within the specified 5 month window which is about £4K! Now to do some furniture shopping! 

sarcal3813

Waiting patiently, telling myself that no news is good news. We signed and sent back the contracts and deeds last week, just waiting for a couple of documents from the sellers solicitors. 🤞🤞🤞 We were hoping for exchange last week for completion this week, but hopefully it will be by next week latest now! 

Caramac

This whole process seems to be a rollercoaster, yesterday we were over the moon because our solicitor received indemnity insurance that our house sale was dependent on. Today we have received questions from the buyers solicitor about this. I hope it’s just standard procedure. We were originally due to exchange/complete a month ago when it was decided we needed this indemnity.