The NEW waiting to exchange thread...

gingerlex

gingerlex said:

Buckle up folks, this timeline is a long one!

09/09 offer accepted on ours

13/09 viewed new house

14/09 offer accepted on new house

16/09 restart application as filled incorrectly (did homeowner loan. Woops)- new DIP

23/09 details confirmed, valuation requested, research surveyors.

25/09 documents of wages uploaded  (had to chase as link not working)

28/09 learned that buyers are awaiting mortgage offer and have instructed searches; vendor has also instructed searches.

29/09 advise solicitor to begin searches, draft contract received

30/09 paid for searches

09/10 mortgage offer given, surveyors instructed (booked for 20/10)

12/10 searches back, enquiries received from buyers, responded to enquiries

15/10 our vendor has pulled out of her sale and put an offer on a different property - rejected 4 days later

20/10 our solicitor forwarded response to enquiries to buyers solicitor. Survey carried out at purchase

26/10 buyers still waiting on mortgage offer, had drive by valuation. No property-accessed survey

27/10 survey report received. Answered additional enquiries from buyers. Vendor has had an offer accepted on a house. Awaiting chain confirmation (their vendor to go into rented)

04/11 receive information that buyers mortgage offer is through

05/11 email received from solicitor, buyer is ready as are we, just need vendors position.

11/11 phone call from vendors EA, vendor is buying two properties. New build set to be completed in December (awaiting flooring). Vendor super keen to move and prepared to go into new build until other purchase completed (other purchase = most recently accepted offer). Offered a second viewing on purchase if we wished (accepted)

13/11 buyers super keen. Proposed date of 27/11. Counter propose 1/12. panic about packing a 3 bed house with hoarding tendancies in the middle of a lockdown solo as hubby is away for work.

16/11 Vendor EA inform vendor pulled out of new build purchase (drain probs), 2nd purchase is awaiting searches.

17/11 buyer is still interested despite what's going on. His rental is up 3rd Jan. Vendors solicitors saying no move til Jan.

18/11 spoke to vendor EA, vendor has offer on another property, they have asked their vendor if can rent for 2 months first but that vendor not comfortable with that. Property 2 vendor will move in with partner, but given time of year deffo January before everything wrapped up. I told them as long as we move before March, it's fine; but our buyers are wanting to move sooner. Vendor EA discussing end of January as clause for completion and talking to out EA so they can speak to our buyers.
Viewed property for second time. Still feels like home. Drain problem of new build was flooding. Vendor frustrated because she wants to move but not make rash decisions. New accepted property is chain free and initially said yes to a 2month rental before getting cold feet. Other property from October have changed their minds about rental and haven't even started looking yet.

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.

So all being well, in our new home for end of Jan. At this point I am fed up of people lying and moving goalposts.

Waiting to exchange today. Vendors onward purchase has been pushed through rather quickly, all searches for her came back 23rd Dec..enquiries all dealt with by 8th Jan, so we are looking to complete 26th Jan.

I've had a headache from stress since 2am. I just want it done now!

JasonLastName

JasonLastName said:

Solicitor emailed to say she chased vendors RE management pack on 8/1. Been waiting since nov for it.
I looked at the title on land registry and called the management company just to ask how long it should take. They said they could check for me, so I gave address and they said that the vendors only enquired about purchasing the pack in Dec, and they don't have record of them purchasing it yet!!

My offer expires in March, and this news has kind of killed any hope of getting the move done before I get kicked out of my rented place.

Should I chase my solicitor again telling them that they haven't even purchased the pack yet? this is the only thing we are waiting on, everything else is done. 

Email on 15/1 from solicitor saying the vendors solicitor are 'waiting for payment details from the management company' so they can order the leasehold pack. 

My solicitor knows what's up, I have now told the EA several times whats up. what else can I do? get in touch with the vendors to make sure they know its their vendor holding everything up? I'm also their 2nd buyer after the 1st had mortgage withdrawn due to furlough so I'm sure they are feeling stressed about it.

Kelb93

Heard from the solicitors this morning that we are working towards 29/01. 2 days before my mortgage offer will expire  ahh! Keeping everything crossed everyone will agree and stick to this one. 

WoozieSioux_tse

So what is normal for deciding when the exchange and completion dates are? We are selling our home. Potential buyers are first time buyers in rental. We are relocating to a different area and would like to rent for at least six months before we buy somewhere else. Thought everything was done, have answered 12 queries, searches done, mortgage paperwork approved for buyer, contracts and all house documents perused and complete in December. We'd been requesting for months, are the buyers getting a survey/ homebuyers report done? Apparently not. Until yesterday when they asked if a buildings survey could be done today. No, but agreed to early next week. We had been tentatively discussing exchange and completion dates, EA said to hold off suggesting dates as all paperwork appeared completed and it could be done sooner than we suggested (we were happy with this).
Does this just smack of tactics or am I misreading the situation? We aren't against the idea of the survey (though a buildings survey seems unnnecessary), but find it a bit suspicious that they haven't requested one before? Is it just a ploy to quibble the price they will pay?

amandacat

WoozieSioux_tse said:

So what is normal for deciding when the exchange and completion dates are? We are selling our home. Potential buyers are first time buyers in rental. We are relocating to a different area and would like to rent for at least six months before we buy somewhere else. Thought everything was done, have answered 12 queries, searches done, mortgage paperwork approved for buyer, contracts and all house documents perused and complete in December. We'd been requesting for months, are the buyers getting a survey/ homebuyers report done? Apparently not. Until yesterday when they asked if a buildings survey could be done today. No, but agreed to early next week. We had been tentatively discussing exchange and completion dates, EA said to hold off suggesting dates as all paperwork appeared completed and it could be done sooner than we suggested (we were happy with this).
Does this just smack of tactics or am I misreading the situation? We aren't against the idea of the survey (though a buildings survey seems unnnecessary), but find it a bit suspicious that they haven't requested one before? Is it just a ploy to quibble the price they will pay?

It is strange to leave it so late in the day. Could be innocent eg. Their inexperience as FTB and someone has advised them to get one done. Or it could be they want to try and get some money off like you said. 

Who knows what goes on sometimes though with house sales, mine was all going well for exchange last Friday then I was told Monday or Tuesday but it’s now Tuesday afternoon, my solicitor isn’t responding to me. My EA has chased with no response. 

I’m meant to be moving to rental but can’t sign a tenancy agreement until exchange so co ordinating that has been difficult when I’m so in the dark. 

I hope the survey your FTB now want turns out just to be for their own peace of mind or on last minute advice. 

WoozieSioux_tse

To me, radio silence is not a good sign. That's what we had just before this was sprung. I think the EAs really earn their money in these situations, vested interest I guess, but it is appreciated. Fingers crossed that you'll be getting a call later today letting you know the exchange has gone through amandacat!

HoopyNJ

amandacat said:

Day from hell- please give me sympathy/virtual hugs. 

Started off ok- email from solicitor first thing to say we should exchange today or tomorrow and they’d let me know. Completion date intended for 29 January. 

Call at 11am from the letting agent of the rental we are meant to be moving into on that date. I expected it to be to tell me the tenancy agreement was ready to sign. Nope it was to tell me the property is no longer available as the landlord has decided to sell. 

What ensued was me calling around letting agents for a new rental and everything was under reference. 

Got to 5.30pm of doing this to realise I’d not heard a thing back from my solicitor about exchange. Too late to chase. 

Looks like we might have to move in with family temporarily while we get a rental sorted. 

I have 2 cats and 1 dog and it means I will have no choice but to put them into a cattery/kennel temporarily while we get a rental sorted (assuming they’re still even operating during lockdown) which hopefully shouldn’t be too long as we will get a rental eventually. But breaks my heart to be away from my pets but family have pets already and a small house so this is my only option. 

I’m in the worst anxious state ever so please be kind. 

Oh no! I'm so sorry to hear this. I really hope you manage to work something out - and I really feel you on the being away from pets thing

Navigaor31

Another day of sending a "chaser email" to the solicitor....but writing it in such a way that doesn't make me seen like I'm chasing or being an !!!!!!...mainly because I know it's not them or our sellers solicitors holding anything up aha. 

Drawingaline

Kelb93 said:

Heard from the solicitors this morning that we are working towards 29/01. 2 days before my mortgage offer will expire  ahh! Keeping everything crossed everyone will agree and stick to this one. 

This is us. My solicitor was all over it the past two weeks, now the buyers solicitor is waiting on the last document she has gone AWOL! Buyers solicitors being a pain and won't request deposit from buyer until have every single piece of paper, but we need to draw down mortgage funds tomorrow in order to complete on the 27th. Have paid removals today as had no choice, still don't know if it will actually happen 😡 

We have to complete on the 27th, offer expires on 29th. This has been going on since July. We just want to bloody move!!!

badger09

WoozieSioux_tse said:

So what is normal for deciding when the exchange and completion dates are? We are selling our home. Potential buyers are first time buyers in rental. We are relocating to a different area and would like to rent for at least six months before we buy somewhere else. Thought everything was done, have answered 12 queries, searches done, mortgage paperwork approved for buyer, contracts and all house documents perused and complete in December. We'd been requesting for months, are the buyers getting a survey/ homebuyers report done? Apparently not. Until yesterday when they asked if a buildings survey could be done today. No, but agreed to early next week. We had been tentatively discussing exchange and completion dates, EA said to hold off suggesting dates as all paperwork appeared completed and it could be done sooner than we suggested (we were happy with this).
Does this just smack of tactics or am I misreading the situation? We aren't against the idea of the survey (though a buildings survey seems unnnecessary), but find it a bit suspicious that they haven't requested one before? Is it just a ploy to quibble the price they will pay?

Timescale not clear from your post, but when you say 'mortgage paperwork approved for buyer', what exactly do you mean?
Have they actually received their formal mortgage offer, and if so, is it possible there is some sort of retention, or that mortgage valuation is less than agreed price and they want to know just how much it is going to cost them to fix any problems?