The NEW waiting to exchange thread...

ccfc1972

Not so positive update from us...
All looked to be progressing nicely, I was speaking to my solicitor today about completing on the 15th Jan. Everyone seemed to be fine with that and it was full steam ahead.
Had an email at 5.30pm...

"Hi,

I’m really sorry to give you bad news so late in the day, but below is what I’ve had from Mr and Mrs ********'s solicitor as I’m just about to leave ……..

“There  is an issue that has arisen on our clients purchase no completion date can yet be agreed”

No idea where this leaves us. Our buyers' mortgage offer runs out on the 26th Jan and they can not extend it.

I knew it was too good to be true! 😔

FTB_Help

Doodlebugs said:

FTB_Help said:

I am literally in the same situation as you, our tenants are apparently too leaving the country for work (our vendor is paying them to leave in Feb) - are we buying the same house??! 
Still waiting on our searches (expected back this week), chased for answers on enquiries today, was hoping for all legal work to be done by end of this month, so we can have a month of just twiddling our thumbs.
Hope it all goes well on your side

God wouldn’t that be interesting! I’m not sure I’d progress with a house if I knew I was competing to complete with others. Estate agents would tell people if that was the case right? 🤪 

I’m also hoping for a month of thumb twiddling  and slowly packing bits we don’t immediately need. Hope you get the responses soon. 

Ha! Yes the solicitor/ EA would have made parties aware if we're in a contract race.
Got my searches back now, chased vendor to check in with their solicitor for enquiries response, hopeful we'll get them back this week.
I'm just hoping whatever happens with lockdown that the tenants can/ will still leave, our vendor is paying them to leave early, just hope it is enough for them to not turn it down - I don't think I'm ever going to move again if we get this place too much stress!

badger09

ccfc1972 said:

Not so positive update from us...
All looked to be progressing nicely, I was speaking to my solicitor today about completing on the 15th Jan. Everyone seemed to be fine with that and it was full steam ahead.
Had an email at 5.30pm...

"Hi,

I’m really sorry to give you bad news so late in the day, but below is what I’ve had from Mr and Mrs ********'s solicitor as I’m just about to leave ……..

“There  is an issue that has arisen on our clients purchase no completion date can yet be agreed”

No idea where this leaves us. Our buyers' mortgage offer runs out on the 26th Jan and they can not extend it.

I knew it was too good to be true! 😔

Sorry to hear this.
Also don't have time to revisit your previous posts (removal men due 08.00 tomorrow ), but is this problem with your seller or your purchaser? IMO, problem with purchaser is potentially much more serious than with seller.
(But you don't have either time or inclination to read my previous posts to find out why)

Hope its only a minor glitch

ccfc1972

badger09 said:

ccfc1972 said:

Not so positive update from us...
All looked to be progressing nicely, I was speaking to my solicitor today about completing on the 15th Jan. Everyone seemed to be fine with that and it was full steam ahead.
Had an email at 5.30pm...

"Hi,

I’m really sorry to give you bad news so late in the day, but below is what I’ve had from Mr and Mrs ********'s solicitor as I’m just about to leave ……..

“There  is an issue that has arisen on our clients purchase no completion date can yet be agreed”

No idea where this leaves us. Our buyers' mortgage offer runs out on the 26th Jan and they can not extend it.

I knew it was too good to be true! 😔

Sorry to hear this.
Also don't have time to revisit your previous posts (removal men due 08.00 tomorrow ), but is this problem with your seller or your purchaser? IMO, problem with purchaser is potentially much more serious than with seller.
(But you don't have either time or inclination to read my previous posts to find out why)

Hope its only a minor glitch

Thanks, good luck with your move.
This is the only email I have had regarding an issue, which was sent tonight and that's literally all it said, so I really have no idea what the issue is.
I'm assuming it is a problem with our vendor's purchase, which is the top of the chain. I'm guessing it must be an issue at the seller's end. Hopefully it is a minor issue, but either way, it could mean we have to break the chain and just sell our property first, if the delay (hopefully that's all it is) is longer than a couple of weeks.
All very frustrating.

breakfast_epiphanies

tervozina said:

breakfast_epiphanies said:

tervozina said:

Ok an update. 

We were cheeky enough to call sellers solicitors as ours not answering and they told us that our solicitors are literally sending the money over now, they couldn’t tell us anything more as they are not allowed to talk to us but they said that we should complete within next couple hours 

👍👍

Yey! We completed! Just going to collect the keys. 

Did you complete yet?

Currently eating a chinese on my new living room floor!

Sotts

breakfast_epiphanies said:

tervozina said:

breakfast_epiphanies said:

tervozina said:

Ok an update. 

We were cheeky enough to call sellers solicitors as ours not answering and they told us that our solicitors are literally sending the money over now, they couldn’t tell us anything more as they are not allowed to talk to us but they said that we should complete within next couple hours 

👍👍

Yey! We completed! Just going to collect the keys. 

Did you complete yet?

Currently eating a chinese on my new living room floor!

Ah im so happy for you 

retepetsir

WiseOwl00 said:

17/10 - viewed property + put in an offer lower than asking price. 
18/10 - vendor asked for higher offer (still under asking price). Offer accepted. 
20/10 - information passed to estate agents. All solicitors instructed. 
26/10 - applied for mortgage (10% with Nationwide).
27/10 - Nationwide arranged date for valuation.
03/11 - Nationwide conducted valuation. 
10/11 - Nationwide asked for more information, mortgage advisor. Supplied.
12/11 - solicitor received contract pack. Paid solicitor fees + searches sent.
25/11 - mortgage offer received.
22/12 - searches due back (nearly 6 weeks after requesting!) 

It's been 10 weeks since our offer was accepted, and still no exchange/completion date. This is on top of the 12 weeks we wasted on the  house we had an offer accepted on previously, where the vendors completely dragged us along! All together it's been 23 weeks since we started the house buying process, and I've watched so many people I know buy homes along the way. Hoping for end of January/early February, but won't hold my breath. 🤞🏻

Sounds like our experience to date.
We are in a very short chain, FTB buying ours and then the house we are purchasing is vacant. Everyone said at the beginning they wanted to move quickly due to the stamp duty holiday deadline.

I managed to push through the mortgage application/offer/surveys/return all documentation within a couple of weeks and so far it's been another two months with zero progress

14/10 - accepted offer on our property and offer accepted on our purchase
15/10 - applied for mortgage, instructed solicitor already lined up, searches requested
25/10 - our own survey and seperate mortgage valuation undertaken
26/10 - mortgage offer received
14/11 - chased solicitor, awaiting searches
28/11 - chased solicitor and EA, awaiting searches and responses from enquiries to vendors
30/11 - vendors confirmed they'd answered all enquiries
02/12 - received fixtures and fittings forms but nothing else
03/12 - responded to all enquiries from buyer's solicitors, most of which we'd covered off already (such as FENSA certificates which I'd sent back in October!)
16/12 - chased solicitor, told they are awaiting responses to enquiries from vendors and response from our answers sent back to buyers
17/12 - buyers have their mortgage offer
18/12 - solicitors closed for Christmas
04/01 - chased solcitor, given the same update as on the 16th December. All answers to enquiries were given a month previous!

So frustrating, we just want dates. 

Sotts

I thought the waiting for mortgage offer thread was stressful.    Waiting to exchange sounds like torture.   Hopefully now Christmas is over, thinks wk start moving

Doodlebugs

FTB_Help said: 

Ha! Yes the solicitor/ EA would have made parties aware if we're in a contract race.
Got my searches back now, chased vendor to check in with their solicitor for enquiries response, hopeful we'll get them back this week.
I'm just hoping whatever happens with lockdown that the tenants can/ will still leave, our vendor is paying them to leave early, just hope it is enough for them to not turn it down - I don't think I'm ever going to move again if we get this place too much stress!

I never intend on moving again. Though I did say that when we bought this house too...
We had our report through from our solicitor today along with the draft contract, deed etc to sign. Couple of indemnity issues to resolve, vendor refusing to provide info on some building works they had done too. At least we have a few weeks to get it all sorted I guess. 

Coopsy85

Sotts said:

I thought the waiting for mortgage offer thread was stressful.    Waiting to exchange sounds like torture.   Hopefully now Christmas is over, thinks wk start moving

Totally agree, just had our mortgage offer with no issues whatsoever took two only weeks, searches due back on 29th Jan, survey being carried out next week. But looking through here it seems the stress is just about to get started, I didn’t quite comprehend the uncertainty of exchange, down to the very last minute and then waiting for completion. Time to put my big girl pants on and stock up on the wine I think.