The NEW waiting to exchange thread...

poultrum

Not sure if we are being impatient or not ,we think the solicitors are dragging there feet ( seller and buyer using same company and no chain) we keep being told its due to covid and solicitors are refusing to even give us an estimation of how much longer this is going to take, we were also told exchange and completion on the same day does`nt speed up the process .

 

AIP 15/08/2020
Offer accepted 28/08/2020
Solicitors gave all paperwork details but not progressing searches 10/09/2020
Mortgage valuation completed 12/09/2020
Mortgage offer received 02/10/2020
Solicitors advised to proceed and paid 25% 02//10/2020
Searches requested 08/10/2020
Fixtures and fittings received 15/10/2020
Homebuyer report completed 28/10/2020
Searches completed enquiries raised 18/11/2020

MaryNB

gingerlex said:

20/11 Our buyer has just been speaking to our EA, seeing if there is any way we can speed things up, will our vendor go into rented etc. He initially said his rental agreement was up 3rd Jan. That's now changed to "end of December". His landlord won't do a rolling contract. He then said "as long as it's before the end of January", which my EA said "it's pretty likely it will be", he's then flipped a switch and said it needs to be before 18th December or he doesn't see the point.

I've told my EA that I don't know what he wants from us. We can't make the system work any faster. I wouldn't buy a flooded house either. He can spit his dummy out and stamp his feet but it doesn't change Christmas is in the way, we don't have a date and I can't book a removal van without a date. There is no way I am renting and moving twice with a 4yr old and cats. Not fair to them.
23/11 spoke to EA, buyer has apologised (he took out his frustration on her a bit). He IS happy to wait and has sorted accommodation for himself for after Xmas.

I can understand why he'd be frustrated but it's not your fault your vendor is a bit of a nightmare. And things are moving slower with Covid. If he does kick off get the EA to tell him that landlord can't refuse him a rolling contract. He'll automatically be on one if he stays put. He can stay at least another 6 months as long as he hasn't given the landlord notice. If the landlord issues an S21 notice to vacate it won't come into play until at least late May. 

Bad_Accountant

Joining this thread! I'm buying with OH, FTBs currently in rented flat.

AIP Sept 2019 (Halifax)
... about 20-odd viewings including complete horrors :rotfl:
18/10/2019 Offer accepted on property, £5k below asking price
26/10/2019 Mortgage application via broker done (changed to Barclays for best rate)
04/11/2019 Underwriters approve
05/11/2019 EA confirms that our vendors have found a chain-free property to move into - chain of three complete :shocked:
06/11/2019 valuation
08/11/2019 mortgage approved, solicitor instructed
Good grief - so after all this ...

[Four month saga of seller's conveyancers being appallingly slow. Absolute pile of clowns. etc. who made a simple transaction take FAR longer than necessary. Never use Muve conveyancers!]

25/03/2020 pulled out of sale due to my OH's job being on the rocks with COVID. Much wailing and gnashing of teeth

[Lockdown, working from home, you know the drill]

Early September got 15% deposit together and OH's job is stable

Re-offered on former house as it was still on market, offer accepted, solicitor instructed!

Sellers say they're moving in with family once they sell so we are buying CHAIN FREE

26/10/2020 mortgage approved .... again ... a year after we first got it approved!

Let's see how quickly we can get the conveyancing done and really hoping we'll be moved early next year (but I said that last time .... )

30/10/2020 - engaged surveyor for homebuyer's report for a truly obscene price ... but they were the only decent ones without a six-week wait. If something's badly wrong I want to know ASAP!

12/11/2020 - Survey booked for 20/11/2020. As long as that's all OK solicitor says we should be able to exchange on the 4th and complete on the 11th December.

17/11/2020 - searches and queries back. No obvious problems!

20/11/2020 - Homebuyer's report survey done

23/11/2020 - draft contract and deeds through from solicitor

24/11/2020 - Homebuyer's report back, no showstopping issues! Hooray! Wow, a homebuyer's report is really sparse isn't it, compared to a Building Survey?! I've never paid so much for so little content!

I'm starting to think we might actually own a house on 11th December!

I've been saving three bottles of champagne, including a really nice one from Harrods, and if this all works out I'm going to drink the lot! One on Exchange, one on Completion and one on moving day! Actually ... some it might be a few years old... does Champagne go bad?

Jadek

So, offer was accepted in March, after almost nine long months we were finally due to exchange on Friday just gone, with completion happening this Friday coming (27th). We failed to exchange on Friday because the seller hadn't confirmed the completion date, which at the time I put down to a breakdown of communication somewhere. It meant that completion would be pushed back, but I thought, nevermind, as long as we exchange before the end of the month so that we can give notice on our rental.

Monday morning, I get a call to say the seller has pulled out. 

Nine months and £2k~ in fees down the drain. Honestly it's the wasted time that stings the most. 

So we're back to square one. I've lined up four viewings for Friday and if none of them are any good then we might just give it a break for a bit and start looking again in the new year. We're trying to see it as an opportunity to find something nicer...

MaryNB

Jadek said:

So, offer was accepted in March, after almost nine long months we were finally due to exchange on Friday just gone, with completion happening this Friday coming (27th). We failed to exchange on Friday because the seller hadn't confirmed the completion date, which at the time I put down to a breakdown of communication somewhere. It meant that completion would be pushed back, but I thought, nevermind, as long as we exchange before the end of the month so that we can give notice on our rental.

Monday morning, I get a call to say the seller has pulled out. 

Nine months and £2k~ in fees down the drain. Honestly it's the wasted time that stings the most. 

So we're back to square one. I've lined up four viewings for Friday and if none of them are any good then we might just give it a break for a bit and start looking again in the new year. We're trying to see it as an opportunity to find something nicer...

That's awful!! I'm so sorry.  Hopefully you find an even better property soon. 

bell2020

Our searches were submitted on the 9th November. We had environmental and water/drainage back within a couple of days. Then on the 18th I emailed our local council to ask what the time frame is for the local search and she said she had received the request on the 10th and has completed and returned the search. I spoke to our solicitor on the 21st and they said they haven't received the search back?? Has anyone else had this?

camden_kid

Jadek said:

So, offer was accepted in March, after almost nine long months we were finally due to exchange on Friday just gone, with completion happening this Friday coming (27th). We failed to exchange on Friday because the seller hadn't confirmed the completion date, which at the time I put down to a breakdown of communication somewhere. It meant that completion would be pushed back, but I thought, nevermind, as long as we exchange before the end of the month so that we can give notice on our rental.

Monday morning, I get a call to say the seller has pulled out. 

Nine months and £2k~ in fees down the drain. Honestly it's the wasted time that stings the most. 

So we're back to square one. I've lined up four viewings for Friday and if none of them are any good then we might just give it a break for a bit and start looking again in the new year. We're trying to see it as an opportunity to find something nicer...

Sorry to hear that. Was a reason given by the seller?

MaryNB

MaryNB said:

MaryNB said:

sarcal3813 said:

MaryNB said:

sarcal3813 said:

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 🤞

I'm in a similar position. Supposed to exchange tomorrow (completing next week) but have heard nothing from the sellers' solicitor since my solicitor confirmed the contract and deposit were ready to go. EA confirmed on Monday that the sellers (and their sellers) want to exchange tomorrow.  My solicitor and the EA were chasing today but I still haven't heard anything.

It’s so frustrating isn’t it! It’s like a rollercoaster ride. 

Best of luck for you, I hope you manage to exchange tomorrow still. 🤞

Hope your exchange is going better than mine!

Got a call from the estate agent this morning saying my solicitors told him they were waiting for something from me, or there was an outstanding enquiry. Eh, what?!! Rang them, the didn't say anything of the sort. While I had asked for a copy of the original deeds on Monday, I said it was a nice to have and I didn't want it to hold up exchange. My solicitor told the seller's solicitor on Wednesday that we were ready for Friday. I gave her my signed contract, mortgage deed and 10% deposit first thing Wednesday morning. 

Estate agent said he'd chase. I've heard nothing since 10am. My solicitor finishes work in an hour. 

After chasing all day I finally find out there are several enquiries outstanding on my seller's onward purchase. Really annoyed nobody let me know until the proposed day of exchange was nearly over. The silence was deafening.  
Hopefully we can exchange next week. 

Solicitor just emailed to say Halifax confirmed they will release funds on Friday and she asked me for my authority to exchange. Completion still on target for the 27th despite the delay to exchange. SO EXCITED!!!

WorkingHard

Jadek said:

So, offer was accepted in March, after almost nine long months we were finally due to exchange on Friday just gone, with completion happening this Friday coming (27th). We failed to exchange on Friday because the seller hadn't confirmed the completion date, which at the time I put down to a breakdown of communication somewhere. It meant that completion would be pushed back, but I thought, nevermind, as long as we exchange before the end of the month so that we can give notice on our rental.

Monday morning, I get a call to say the seller has pulled out. 

Nine months and £2k~ in fees down the drain. Honestly it's the wasted time that stings the most. 

So we're back to square one. I've lined up four viewings for Friday and if none of them are any good then we might just give it a break for a bit and start looking again in the new year. We're trying to see it as an opportunity to find something nicer...

Oh no. That's heartbreaking for you! Fingers crossed the viewings pay off. 

sarcal3813

Can anyone tell me what happens on the day of completion? We’re buying an empty house and not moving straight in. I’m just wondering if I’ll need the day off work or anything?