The NEW waiting to exchange thread...

fastbs

ashleighduguid said:

Completion today!! Waiting for a phone call or information from anyone is a dragggggg! 

Congratulations! Hope the move goes smoothly 😊

uralmaid

Thanks badger09. Unfortunately today things have got worse.  We agreed our sale at the end of September to a lady who had sold her property to a cash buyer.  Our estate agent rang me this morning absolutely beside himself with anger. He had finally got through to her solicitor who had been checking the person buying her house. Neither her agents or solicitors have been responding to him or to our solicitor. They only started progressing the purchase last week. Appears there has been a massive cockup . Our agent is trying to find out if there is any way to resolve it but I can't see it happening. I am awaiting official confirmation that we wont be exchanging or completing in February before I let the vendor of the property we are supposed to be buying know.  As I see it (unless a miracle happens) we will have to withdraw from the purchase as if he doesn't sign for the rental it will just keep going round and round - we will be ready then he won't etc.  I feel we have two options.  Keep with the sale and try and find somewhere else to buy, or forget the whole thing and stay put.  This is the second time we have had big problems. We initially agreed a sale to cash buyers in early August. After nearly 3 months of them lying, it was eventually discovered that no progress had ever been made on their purchase and they couldn't proceed.  Think the fates are telling us to stay where we are!

CodeMatcha

Hey all, just posting this because I feel like I am in some week-long groundhog day.

4 weeks ago on a Friday, I got a call asking if I wanted to try and exchange/complete by the following Wednesday. I was blindsided as I had been chasing the outstanding enquires for months, so I refused and suggested the Wednesday after to the chain. I was too worried about transferring the deposit money that quickly and I didn't want to rush my decision if the outstanding enquires were bad news. I heard back from the EA that the chain was keen to move on this date. Since I thought it was only a week away, I started packing in earnest and looking at new furniture etc. 

That date got closer and closer with total silence from the sellers solicitors. Eventually, on Friday, we finally heard that the sellers weren't ready to exchange due to outstanding enquires on the property they were buying. This was pretty weird since I felt like I was being pushed to exchange the week before.

Since then we have pretty much gone in the same circle every week. The sellers solicitors just refuse to respond to my solicitor or the EA until last minute. We were pretty sure we were going to move weeks ago.

I should just try not to think about it, but most of my stuff is now packed and it is becoming quite stressful. There is still a small chance someone will drop out and if we miss the stamp duty deadline we will have to renegotiate or pull out.

I think the lockdown is making everything worse, because I can't just go out to distract myself.

RoyalPlum

CodeMatcha said:

I think the lockdown is making everything worse, because I can't just go out to distract myself.

I think you summed it up in one here. I'm currently living & working out of the same room so I find myself with nothing to be distracted by. Spend all day everyday, sitting, just waiting for the phone to ring for some kind of meaningful update. 

RoyalPlum

CodeMatcha said:

Hey all, just posting this because I feel like I am in some week-long groundhog day.

4 weeks ago on a Friday, I got a call asking if I wanted to try and exchange/complete by the following Wednesday. I was blindsided as I had been chasing the outstanding enquires for months, so I refused and suggested the Wednesday after to the chain. I was too worried about transferring the deposit money that quickly and I didn't want to rush my decision if the outstanding enquires were bad news. I heard back from the EA that the chain was keen to move on this date. Since I thought it was only a week away, I started packing in earnest and looking at new furniture etc. 

That date got closer and closer with total silence from the sellers solicitors. Eventually, on Friday, we finally heard that the sellers weren't ready to exchange due to outstanding enquires on the property they were buying. This was pretty weird since I felt like I was being pushed to exchange the week before.

Since then we have pretty much gone in the same circle every week. The sellers solicitors just refuse to respond to my solicitor or the EA until last minute. We were pretty sure we were going to move weeks ago.

I should just try not to think about it, but most of my stuff is now packed and it is becoming quite stressful. There is still a small chance someone will drop out and if we miss the stamp duty deadline we will have to renegotiate or pull out.

I think the lockdown is making everything worse, because I can't just go out to distract myself.

Also side note: today is actually Groundhog Day 

CodeMatcha

RoyalPlum said:

CodeMatcha said:

Hey all, just posting this because I feel like I am in some week-long groundhog day.

Also side note: today is actually Groundhog Day 

Ha, I didn't know this! I think someone mentioned the film during my meeting and it must have gone in subconsciously

CodeMatcha

RoyalPlum said:

CodeMatcha said:

I think the lockdown is making everything worse, because I can't just go out to distract myself.

I think you summed it up in one here. I'm currently living & working out of the same room so I find myself with nothing to be distracted by. Spend all day everyday, sitting, just waiting for the phone to ring for some kind of meaningful update. 

Agreed. I think moving and having my own property (FTB) will also make me feel a bit more comfortable/safer even if lockdown goes on for a lot longer. I really don't what to go through this process again, even if house prices drop the day after.

This is my second attempt at a purchase, the first one fell through due to the first lockdown.

badger09

uralmaid said:

Thanks badger09. Unfortunately today things have got worse.  We agreed our sale at the end of September to a lady who had sold her property to a cash buyer.  Our estate agent rang me this morning absolutely beside himself with anger. He had finally got through to her solicitor who had been checking the person buying her house. Neither her agents or solicitors have been responding to him or to our solicitor. They only started progressing the purchase last week. Appears there has been a massive cockup . Our agent is trying to find out if there is any way to resolve it but I can't see it happening. I am awaiting official confirmation that we wont be exchanging or completing in February before I let the vendor of the property we are supposed to be buying know.  As I see it (unless a miracle happens) we will have to withdraw from the purchase as if he doesn't sign for the rental it will just keep going round and round - we will be ready then he won't etc.  I feel we have two options.  Keep with the sale and try and find somewhere else to buy, or forget the whole thing and stay put.  This is the second time we have had big problems. We initially agreed a sale to cash buyers in early August. After nearly 3 months of them lying, it was eventually discovered that no progress had ever been made on their purchase and they couldn't proceed.  Think the fates are telling us to stay where we are!

That really doesn't sound good. Unless your house is a tricky one to sell, it sounds as though you've just been really unlucky with your purchasers. Maybe it is time to draw breath, sit tight for a while and start again in the spring. Your vendor will presumably be really disappointed, but you have to do what's right for you. Hope you can work something out soon.

uralmaid

No we sold it within 3 weeks of putting it on the market the first time. When we had to re-market it after the timewasters, we sold it again within 3 days.  It is set in 2.3 acres with a fishing lake.  The only reason we want to move is to downsize on the land as it is getting too much for us now we are in our mid 60's.  

katie91_2

On attempt 3 to exchange today. Yesterday it turns out our vendor had something outstanding on their onward purchase to do with an indemnity which has now been solved. All waiting on the top of the chain - how it’s failed this many times on a chain of 4 I have no idea. The incompetence is frustrating.