The NEW waiting to exchange thread...

Seashell517

Had a call from my vendor's agent today to say that they've been told all enquiries are now responded to (although I won't 100% believe it until I hear it from my conveyancer) and so in theory we could exchange now. However, there is a baby due in the chain in the first week of March, so practically we're looking at completion mid-March and so exchange will probably be the end of the month or beginning of next. 

Timeline for those interested:
Oct 9th: My house listed for sale.
Dec 9th: Memo of sale for my sale.
Dec 24th: Memo of sale of my purchase, which completes a chain of 5 properties.
Dec 29th: Mortgage application submitted.
Jan 5th: Mortgage offer received and conveyancer asked to start working on purchase.
Jan 26th: Searches and mortgage deed received.
Feb 14th: Report on purchase and remaining documents to sign collected, one enquiry outstanding with vendor's solicitors.

Kbenn0

So sorry amyr that your buyer pulled out, huge hugs , can’t even imagine how mortified you are. 

Kbenn0

Hey all, I’m starting to think this group should be rebranded as the waiting to exchange therapy group as a fair few of us seem to be struggling for similar or different reasons. 

I’m currently living in box city. We have joined the radio silence club for just over a week we have heard nothing from the solicitors who are putting the contracts together.. my buyer has forwarded to us a date to exchange as 26/2 then they want to complete on 5/3... my solicitors apart from radio silence won’t discuss any dates until they sort contract. Soooo done with waiting now and card board boxes. Take care everyone let’s push through what I thought was going to be fun and turned out to be very stressy!  

tigerlily74

We are all sorted, my solicitor still seems to be against this endeavour, still waiting for the vendor’s solicitor to confirm or deny the proposed date of the 23rd. This forum is turning into a real support group.

wiseowl I think you are with Purplebricks? If you can the call centre and explain exactly what you need and ask them to escalate they usually do. Sometimes it helps, sometimes it doesn’t.

lf93

We are just waiting for our buyer to agree our suggested completion date for 5th March (suggested it yesterday), my LISA withdrawal process has started, we are all ready to exchange.... eeee I just want a date! We have pre-emptively booked removals (they took no deposit thankfully!) because we panicked they would be fully booked. I don't want to jinx it by packing too much yet...

Peppermint90

How long is it currently taking to draw down funds from lender? I'm completing next week, but I'll only start getting excited once funds are with the solicitor! Online it says it takes up to 7 days with halifax, but usually do the funds arrive sooner? 

SlowlyLosingIt

Lol my buyers solicitor gave the EA a completion date but it turns out they haven't even got the searches ...ordered 4 months ago..back. ours came back in 2 weeks. I've just realised the buyer loses nothing on stamp duty holiday due to prices involved but for our onward purchase it's 15k... So maybe they just aren't bothered. What do you guys think, 6 week extension? I have a terrible habit of checking this thread...googling 'stamp duty'..checking email..repeat! 

Doodlebugs

FTB_Help said:

I feel you, im in the same boat.

Buying a tenanted house, viewed in Oct, "they'll be out be Christmas" the EA said. Obv the LL now is required to give 6 months notice so that was all bulls***

Agreed to proceed, vendor paying tenants to leave end of Feb.

Got everything sorted, then last week got news the tenants won't actually be leaving until April.
So now im going to miss out on SD holiday, so vendor is covering SD but just means im having to wait it out for another 2.5 months.

So fed up, the elation of getting this place in Oct is just wearing thin now.

Me and my fiance are living separately with family and this was going to be our move together, so now its delayed...

Argh no! I’ve been wondering how you’ve been getting on. Sorry to hear you have a longer than anticipated wait now. Good that the vendor is covering the stamp duty though, did they offer or did you have to negotiate? 

I’m preparing for this happening to us. I’m not sure our vendor will be willing to pay stamp duty if it does. They kicked off about paying a £150 indemnity policy. 

FTB_Help

Doodlebugs said:

FTB_Help said:

I feel you, im in the same boat.

Buying a tenanted house, viewed in Oct, "they'll be out be Christmas" the EA said. Obv the LL now is required to give 6 months notice so that was all bulls***

Agreed to proceed, vendor paying tenants to leave end of Feb.

Got everything sorted, then last week got news the tenants won't actually be leaving until April.
So now im going to miss out on SD holiday, so vendor is covering SD but just means im having to wait it out for another 2.5 months.

So fed up, the elation of getting this place in Oct is just wearing thin now.

Me and my fiance are living separately with family and this was going to be our move together, so now its delayed...

Argh no! I’ve been wondering how you’ve been getting on. Sorry to hear you have a longer than anticipated wait now. Good that the vendor is covering the stamp duty though, did they offer or did you have to negotiate? 

I’m preparing for this happening to us. I’m not sure our vendor will be willing to pay stamp duty if it does. They kicked off about paying a £150 indemnity policy. 

Thankfully they approached us to say they'll compensate for 80% of the SD (based on what the outcome will be on the possible extention)

We prepared ourselves for this back in October, but now the dates being moved has become reality, it's just a big downer even after preparing ourselves mentally and financially for it.

It'll be 7.5 months from our offer to the time we get to move in, just hoping they do leave by then, tenants are moving abroad but who knows if they can.

How are you going with yours? Any news of your tenants situation?

uralmaid

After lots of advice from our estate agent and our solicitor we yesterday had to pull out of the sale of our property. Our solicitor discovered that the solicitor for our buyers buyers had not been able to make any progress since instructed in November.  Every time they tried to get answers to queries from our buyers solicitors they were unanswered. There are issues with the plan and the boundaries and until they are sorted out they can not progress the sale or may have to pull out.  Our solicitor was informed that the issues could take months to resolve if and when the information was given as it was a complex sale. We felt we had no choice but to put our property back on the market and inform our sellers we weren't in a position to carry on with our purchase.  We have had a terrible time with our property sale, and this is the second time since August that purchasers have been shall we say "sparing with the truth" to put it politely.  Just so fed up now. We shall see what happens in the next few weeks and if viewings/offers are thin on the ground we will stay put.  Good luck everyone - hope all you dreams and wishes come true.