The NEW waiting to exchange thread...

ccfc1972

Our saga continues!

We were due to exchange and complete this Friday (15th)

Top of the chain still waiting for Land Registry confirmation, which is apparently due to arrive with the solicitors tomorrow. So that date got knocked on the head.

I am in contact with our buyers by text and have been for months. They have a deadline of 26th Jan to complete or it's all over.

We suggested exchanging on Monday and completing on Friday 22nd as we really have to tie our sales in or it will be a nightmare.

Had a text back saying they weren't happy with this and wanted to complete our sale as agreed this Friday.

They eventually (very reluctantly) agreed to next week, after speaking to their solicitors.

So, now we are in the situation of waiting for this documentation through and hoping that everyone can get on the same page for next week. Whatever happens, we have to complete our sale by then or the whole thing collapses.

mm1985

ccfc1972 said:

Our saga continues!

We were due to exchange and complete this Friday (15th)

Top of the chain still waiting for Land Registry confirmation, which is apparently due to arrive with the solicitors tomorrow. So that date got knocked on the head.

I am in contact with our buyers by text and have been for months. They have a deadline of 26th Jan to complete or it's all over.

We suggested exchanging on Monday and completing on Friday 22nd as we really have to tie our sales in or it will be a nightmare.

Had a text back saying they weren't happy with this and wanted to complete our sale as agreed this Friday.

They eventually (very reluctantly) agreed to next week, after speaking to their solicitors.

So, now we are in the situation of waiting for this documentation through and hoping that everyone can get on the same page for next week. Whatever happens, we have to complete our sale by then or the whole thing collapses.

We’re in the same boat here. Had initially all agreed a completion date of 14th until our buyers solicitors lost their signed contracts. At the end of yesterday we had agreed 22nd for a new date until our sellers wanted it earlier and would not agree to 22nd. We have today been able to all agree 20th as long as solicitors all request the withdrawal of funds today 

ccfc1972

Even further update...and more bad news...

Had a phone call with the EA this afternoon and he forwarded me the email from the Solicitors at the top of the chain, which reads...

I have been asked to chase this one in my colleagues absence.

 

I can advise that our client has agreed to sell both interests (leasehold and freehold). The freehold was completed early last year, however, the TP1 was submitted in line with a number of other applications on the title and there is a backlog at HMLR in getting these dealt with.

 

I have been given two title numbers ***** (main freehold) and **** (our newly allocated title) though it is not yet know when registration will be completed.

 

I will be able to provide you with a copy of the title and supporting documents (with amended contract and transfers) once we hear back from the solicitors who are acting in the freehold acquisition (Oliver & Co). I have chased them again today for an update and will revert to you in due course.

So god knows where that leaves us. Doesn't sound like we will be moving next week either, but we definitely need to be out of ours by the 22nd Jan, so will have to break the chain and complete our sale, put all of our stuff in storage, then go god knows where. The wife's parents are re-decorating, so we can't stay there by the looks of things, so it may have to be an Air BnB, although the available ones near us are either horrible or hugely expensive.

So over this...

WiseOwl00

Well, still no exchange date. My solicitor raised further enquiries, the vendor replied today, and their solicitor sent the replies on. My solicitor said she will review them tomorrow. When asked about an exchange date, she said she couldn't say at the minute. Same with the seller's solicitors. 

I appreciate this all takes time, and I don't want to rush my solicitor as they're obviously working in our best interests. But we've been trying to buy a house for 6 months and I'm just so ready for this to be over. All these articles about the housing market maybe having to stall don't help either! Honestly if that happens I don't know what I'd do because my stress levels couldn't take that!  

zodiac55

Failed to exchange today, try again tomorrow!

Drawingaline

WiseOwl00 said:

Well, still no exchange date. My solicitor raised further enquiries, the vendor replied today, and their solicitor sent the replies on. My solicitor said she will review them tomorrow. When asked about an exchange date, she said she couldn't say at the minute. Same with the seller's solicitors. 

I appreciate this all takes time, and I don't want to rush my solicitor as they're obviously working in our best interests. But we've been trying to buy a house for 6 months and I'm just so ready for this to be over. All these articles about the housing market maybe having to stall don't help either! Honestly if that happens I don't know what I'd do because my stress levels couldn't take that!  

This is where we are. If the housing market is halted then will mortgage offers be extended? If not we won't be moving. But honestly there are so many other things that can be curtailed before preventing people moving which wasn't even done in the first lockdown.byou could still move, if you could find someone to move you! 

rachtom84

rachtom84 said:

Hello, I've been following this thread for a while but never commented..
 Our house purchase has been going on for the last 2, yes TWO YEARS and it looks like we are coming to the end finally! 
We sold our house back in June 2020 and have been living with in-laws since then (with two kids) 😩... The house we are buying is vacant, (next door to in-laws) and has been for the last two years too... Owner went into a care home then passed away early last year during the purchase process... The delays we've had have been probate, extending our shared ownship lease on our sold property, covid, sellers House not been registered and having to apply for a mortgage twice!
So glad it's finally at the end... 
Anyway.. Completion has been agreed, from both sides, on Friday 15th...however we still haven't heard from the mortgage company (Halifax) and whether they have approved the release of the money yet in time for completion... Our solicitor instructed them last friday and we sent the deposit money through then, I asked about exchange but they said they will wait to hear from Halifax before exchange... With 3 days to go does this look likely we will get the money before completion or could it be delayed even more?

I know we will wait to hear back from our solicitors but just wandered if anyone else has been through this before?

Sorry for the long post! 

Finally due to exchange and complete tomorrow!
Good luck to everyone and hope you finally get to move... Its been a stressful two years for us! 

wherestheremote

Hey guys I’m a new to this thread. Glad to read some positive stories! My timeline has been ongoing since July. We are just waiting for wording of a sentence to be changed in a brand new lease and then we can exchange. This was sent to our solicitor on Monday but we haven’t heard a thing! So frustrating. 

JessJ23425

Charl1706 said:

How long did it take for some of you to get a completion date organised after you got your replies back for enquiries? Apparently my solicitors got them back on Monday last week and we still haven’t signed a contract yet. So stressful as my partner is stuck renting from a friend and I’ve heard that they haven’t been making it easy for him, so the sooner we get in the better!

Once we received our final enquiry reply on Monday our Solicitor immediately suggested a completion date from the seller the following day, though we are in no chain so it was much easier to do so I imagine.

Charl1706

JessJ23425 said:

Charl1706 said:

How long did it take for some of you to get a completion date organised after you got your replies back for enquiries? Apparently my solicitors got them back on Monday last week and we still haven’t signed a contract yet. So stressful as my partner is stuck renting from a friend and I’ve heard that they haven’t been making it easy for him, so the sooner we get in the better!

Once we received our final enquiry reply on Monday our Solicitor immediately suggested a completion date from the seller the following day, though we are in no chain so it was much easier to do so I imagine.

We’re in no chain as we’re FTB buying a new-build house so I’d imagine it’d get done soon. They’ve been pretty quick pre-lockdown so I imagine it’s throw a wrench into the works.