The NEW waiting to exchange thread...

HoopyNJ

HoopyNJ said:

Thought I'd finally post here as things are moving super quickly and it's all getting very exciting! We're FTBs and the sellers have no chain.

• 22/08/20 - First viewing - fell in love but we'd only seen 5 houses by that point so wanted to keep options open.
• 27/09/20 - Second viewing, which confirmed our decision that the house was the one for us.
• 28/08/20 - Offer made, a bit of back and forthing and final offer accepted.
• Then we had the bank Holiday weekend, awful timing!
• 03/09/20 - Mortgage application submitted via broker
  
• 04/09/20 - Solicitors formally instructed
• 14/09/20 - all documentation finally sent to solicitor (We had to wait for a few bits and bobs like a gift letter etc)
• 17/09/20 - Mortgage approved
• 23/09/20 - Solicitor confirmed we were happy with mortgage offer. 
•  Got a call on 01/10/20 from the estate agent of all people who advised that the sellers had forgotten to complete a piece of paperwork and the sellers solicitor was just sitting on it. 
• 02/10/20 - Homebuyers report and contract pack received, enquiries raised by our solicitor. Searches commenced.

So not much to wait for now! Both us and the vendors are hoping to complete by Mid-November, all being well. Dya reckon that's realistic?

Searches are FINALLY back, about 7 weeks in all! Conveyancer is preparing the report for us and awaiting last few enquires which have been chased by both them and the Estate Agent - not quite sure what's taken so long on the enquiries but apparently they are now with the vendors solicitors. Hopefully we are almost there now, and although we won't be in for Mid November as hoped, I'm hoping we'll get in before Christmas.

WorkHealth

Argh just found out from EA buyer is also having a survey, we thought initially just having valuation so that's next week though passed valuation so hopefully will be OK but an old house and a buyer that's moving from a new one. At least it gives more time to solve our paint tin mountain (half of which was left from our predecessors). I suspect we maybe moving it here. So electrics, EPC, buyer survey, signing contract and transfer deeds are all early next week and we have electrics and all this house to sort this weekend. And one child on covid isolation having a strop about school sending work home until tomorrow. Fun, fun, fun here though mainly hoping it doesn't fall through or they don't ask for a big reduction. Market is completely dead by us - very little on and very little coming off. 

Karism

Karism said:

https://forums.moneysavingexpert.com/discussion/comment/77767136/#Comment_77767136

So from my last post a few things happened.

• Guy at Top of chain tested positive (Joy). Out of isolation on the 23rd of November.
  
• Was hoping to exchange Monday but he had to sort out removals.
• Yesterday that was sorted for next Thursday (26th), and we were hoping to exchange yesterday.
• I inform my solicitor, who was working from home but could get a colleague to get my file to conduct the exchange.
• I get a message relayed I assume from Sellers solicitor -> Sellers -> Estate Agent -> Me that the exchange wasn't happening that day because my Solicitor couldn't get the file because nobody was in the office.
• I send an email to my Solicitor who calls me up in about 10 minutes confused, and states this is not true and that a Solicitor up the chain said they were not ready instead when they tried to exchange.
• I message the estate agent back, we are both confused at the misinformation. She will call around today to see what is going on.
  

Hopefully they can sort things out today as it needs to be done in order to not cause further issues.

Following on from this.

We have now exchanged. (Woohoo)

Moving date is next Thursday, will probably book some time off work, my brother is helping me move some of the heavier stuff, luckily as it is so close I don't need to sort any transport.

tigerlily74

tigerlily74 said:

we are supposed to exchange today and complete tomorrow on our sale. Fingers crossed it happens! We have already moved out and have a cash buyer, so no chain, we were delayed by the searches taking 9 weeks, and now the past week the seller’s solicitor has been saying different things to different people so I’m not optimistic, but we’ll see!

It didn’t happen. Going to try to exchange and complete tomorrow.

Merrrylyn

WE EXCHANGED TODAY!!!!! Completion on 4th Dec! Timeline for anyone who's interested (I mainly started doing it to keep track of the seller's solicitor's responses lol)

I am buying a two bedroom leasehold flat in London using HTB so no chain and a FTB mortgage
8th Sept - offer accepted

13th Sept - solicitor instructed and awaiting paperwork
16th Sept - submitted the Authority to Proceed application

29th Sept - received documents from seller's solicitor

29th Sept - tons of calls later...Authority to Proceed received

30th Sept - searches ordered

6th Oct - searches received and enquiries raised

17th Oct - responses to enquiries received but on the wrong plot 

19th Oct - more responses received but huge amount of outstanding enqueries
Lots of waiting from seller's solicitor.......

2nd Nov - mortgage offer received

3rd Nov - final contract received but amendments to the lease still not attended to
16th Nov - applied for Authority to Exchange

19th Nov - ATE received, lease confirmed and exchanged
It's been such a stressful process for a fairly straightforward transaction. All I can say is make sure you have a good agent who's on your side and willing to chase all parties!

Chilli6

Chilli6 said:

vkvp said:

Chilli6 said:

Getting closer... (no chain purchase) 
July 24th - offer accepted
Early August - mortgage offer
Late August - searches/Enquiries started
11th November - enquiries finally sorted. signed contract. Waiting for nationwide to OK the indemnities. 

Aiming to exchange and complete week of 23rd.... We will see

Hi, if I may ask what indemnities did you have to take? I'm in similar situation for BR indemnity, just wondering how long bank takes to accept or consider the request? 

I had 3 indemnities. Something to do with mines and minerals, lack of building regs for an extension and something to do with a drain through the garden. As you can tell I know little about their actual purpose but the solicitor felt them important!
They sent them to NW 28th Oct and we have yet to hear back. The EA said they usually take a few days but could be a week in current times. We're obviously now at 3 weeks so I'm hoping they will reply in time to exchange and complete week of 23rd. 

So I've heard from Nationwide. They want photos of the extension and proof from local authority that they didn't need planning permission or building regs. 
My solicitor has asked his solicitor to get these ASAP but if he doesn't have the proof does it mean NW won't lend?
We were planning to exchange tomorrow if it came back OK. Now worried we could wait another 3 weeks for NW to reply once they get the sellers reply. 😞

tigerlily74

Merrrylyn said:

WE EXCHANGED TODAY!!!!! Completion on 4th Dec! Timeline for anyone who's interested (I mainly started doing it to keep track of the seller's solicitor's responses lol)

I am buying a two bedroom leasehold flat in London using HTB so no chain and a FTB mortgage
8th Sept - offer accepted

13th Sept - solicitor instructed and awaiting paperwork
16th Sept - submitted the Authority to Proceed application

29th Sept - received documents from seller's solicitor

29th Sept - tons of calls later...Authority to Proceed received

30th Sept - searches ordered

6th Oct - searches received and enquiries raised

17th Oct - responses to enquiries received but on the wrong plot 

19th Oct - more responses received but huge amount of outstanding enqueries
Lots of waiting from seller's solicitor.......

2nd Nov - mortgage offer received

3rd Nov - final contract received but amendments to the lease still not attended to
16th Nov - applied for Authority to Exchange

19th Nov - ATE received, lease confirmed and exchanged
It's been such a stressful process for a fairly straightforward transaction. All I can say is make sure you have a good agent who's on your side and willing to chase all parties!

I agree, we originally signed up with a fab estate agent, she then moved to another branch and the ones who took over are very nice, but not tenacious at all. I have had to do a lot of calling and chasing myself.

Fionaanne141

The buyers had their survey on my house today and I noticed the surveyor looking closely at my patio doors. After he left I realised there’s tiny hairline cracks all the way around the frame. Now panicking and assuming the worst. Who knows what he’ll report it back as / if buyers will also panic but like so many of us I’m at the point of overthinking everything 

firsttimebuyerhelpme

We’re exchanging and completing tomorrow, solicitor asked for another £902 out of nowhere today!! What a nightmare, I feel his expenses aren’t adding up correctly but we will take a deeper look at that once we’ve got the keys! Fingers crossed everything goes well tomorrow, I am so anxious! 

sarcal3813

So we’ve waited patiently all week with no update from the solicitors to say if Friday (tomorrow) would go ahead as our exchange and completion date. 

I’m going to phone them in the morning and get an update 🤞