The NEW waiting to exchange thread...

Doodlebugs

FTB_Help said:

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?

I bet it was, even preparing you still hope it won’t come to that. 

We’ve not heard much. Spoke with the vendors EA and they’ve booked us in early March to view the property as vacant with a view to exchange that day. So they’re confident the tenant is leaving I guess. It should be the end of next week they vacate. 

We’ve told our buyers we will sell regardless as they’ve waited so long and if the tenants don’t vacate then it’s in to eviction territory and who knows what will happen. 

We’ve been keeping an eye on Rightmove at other potential properties in the area just in case it gets to that. Trying to stay positive though. 

Anty21

uralmaid said:

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. 

@uralmaid I am sorry to read this - horrible for you to lose both, and for it to be the 2nd time must be so frustrating for you.  Hopefully you will get a sale agreed again soon and find a new home you will be happy in. Wishing you luck 

For those who has exchange and/or completion today - hope all goes well 

fastbs

Rang the solicitors and given authority to exchange... for some reason I still feel like it isn’t going to happen today!

FTB_Help

Doodlebugs said:

FTB_Help said:

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?

I bet it was, even preparing you still hope it won’t come to that. 

We’ve not heard much. Spoke with the vendors EA and they’ve booked us in early March to view the property as vacant with a view to exchange that day. So they’re confident the tenant is leaving I guess. It should be the end of next week they vacate. 

We’ve told our buyers we will sell regardless as they’ve waited so long and if the tenants don’t vacate then it’s in to eviction territory and who knows what will happen. 

We’ve been keeping an eye on Rightmove at other potential properties in the area just in case it gets to that. Trying to stay positive though. 

It definitely sounds like yours is moving along as planned if they've booked you in.

One thing to maybe see if you can do when you view before exchange (assuming there's a gap between exchange and completion) get a locksmith out as soon as you exchange to change the locks as you won't know how many keys the tenants may have copied - just me being paranoid (i blame all the true crime podcasts I've been hooked on) and also check the loft to see if the roof is still sound.

Keep us updated and fingers crossed 🤞it all goes well next week

crumblylancashire

SlowlyLosingIt said:

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! 

The stamp duty I'd have to pay is minimal really, but I'm still chomping at the bit to get moving!  Thought the sellers might be pushing to get their end done (we're good to go), because the stamp duty will affect them more than us.  Still, no movement in 3 weeks now.

WiseOwl00

Literally all we need is a new date, but the vendor's solicitor isn't replying to anyone. This delay is affecting myself and my partner so badly, and I know the sellers aren't happy either. We are otherwise ready to go, but the solicitor has just done a disappearing act. 

Cuddlybearman

WiseOwl00 said:

Literally all we need is a new date, but the vendor's solicitor isn't replying to anyone. This delay is affecting myself and my partner so badly, and I know the sellers aren't happy either. We are otherwise ready to go, but the solicitor has just done a disappearing act. 

I just don't get it - think i said before if i did this in my work i would be sacked no doubt.
My buyers has had all his searches back now - literally just waiting for this enquiry to come back to them from my solicitor and then i think they can start talking exchange dates - but my solicitor has gone AWOL again!!
This enquiry is literally asking for a copy of a building reg form which my solicitor has had from the start - the enquiry is a week old and i had to find out from my buyer what the enquiry was and then tell my solicitor!! I even offered to just send them the copy but they said it had to come through conveyancing - couldn't just take it from me.
Surely if a case is almost at the point of closing you would prioritise it!!!

Cuddlybearman

Just to add to that - the EA who recommended this solicitor (BTW dont ever fall for that one everybody) has just sent an email to the MD of the conveyancing firm kicking off - so we'll see what happens now.....

runner81

runner81 said:

We finally have some good news today - all of the solicitors have agreed we are ready to exchange and will be exchanging on Monday.  I say this cautiously, as I just don't trust this process!  We have the completion date of 10th March.  I would have liked sooner, but the top of the chain could only get removals for 10th.  Feeling like we have actually got some momentum going - woo hoo!!!!

So after all of the EAs and solicitors saying everything was ready and we should have exchanged last week, it turned out the bottom of the chain had only just had the property pack and contract to sign and then said he had an issue with the 10th Feb and could only do 3rd Feb.  Lots and lots of conversations later he has agreed on 10th thank goodness, or the chain would have fallen apart and we have now finally heard his solicitor has his deposit and signed contract, so in theory we can now exchange, however the solicitor at the bottom seems in no rush to do anything and is really hard to get hold of, so who knows when we will exchange.  I am loosing the will to live and am beyond the point of stressed.

youth_leader

I've been happily packing for my completion date of 11th March, and have just heard from my solicitor asking for a suggested exchange date.  I'd written to him two weeks ago asking for a date and didn't chase, but now realise my email must have gone astray.  Hoping to exchange week commencing 1 March.