The NEW waiting to exchange thread...

uralmaid

After a horrid week last week when our solicitor told me our buyers property was very complex and advised us to close down the sale as it was likely to take months to resolve, we put our house back on the market on Friday afternoon.  Had 4 viewings over the weekend and two asking price offers today. Now waiting to see if the vendor of the one we were buying will re-instate our purchase (this was the second time we had problems with buyers).  If not we will have to begin the search for something else. So far have searched every property in our price range and over in Lincolnshire and Yorkshire but nothing which meets our requirements regarding outbuildings , access down the sides of the property and a decent house. Don't you just love it?

mjle

So we finally had an update from the solicitor today by email ....... "The sale of your property is ready and just waiting for the purchase to catch up. There is just a couple of small enquiries outstanding with the seller’s solicitor and I have just chased these again. I am waiting for some certificates in respect of works to the property and if these are not available I have asked for a draft indemnity policy to be provided. I will let you know once I have a response."

If indemnity is required - how long do these things take to provide?? tbh i have no idea what item of work its regarding!

Thanks,

e93

mjle said:

So we finally had an update from the solicitor today by email ....... "The sale of your property is ready and just waiting for the purchase to catch up. There is just a couple of small enquiries outstanding with the seller’s solicitor and I have just chased these again. I am waiting for some certificates in respect of works to the property and if these are not available I have asked for a draft indemnity policy to be provided. I will let you know once I have a response."

If indemnity is required - how long do these things take to provide?? tbh i have no idea what item of work its regarding!

Thanks,

We needed an indemnity policy for something on our purchase and once requested the sellers solicitor got it sorted within a week, shouldn't delay things too much for you🤞

e93

Solicitor has confirmed all on track for completion 8th March! We wanted to exchange this week so we could give notice on our rental but solicitor isn't convinced it will happen until next week which is annoying because we need to give 2 months notice on rental ending on 27th of the month so we now might need to pay rent for 3 overlapping months 😩 Granted we should have realised this earlier 😔

niknaks0285

niknaks0285 said:

😭 actually deleted a whole comment I wrote. Oh this day just goes from bad to worst! 
We were supposed to sign our contract for our new build today to complete on Friday! We cant do this as our buyers have gone silent, they were supposed to sign today as well. There solicitor cant get in touch, have left  numerous voicemails etc. They are ignoring the EA. This is all after Friday past when they said they are going in today to sign. I am fed up and totally at a loss! Apparently a note left on friday said something about problems with rent. 
Our new build is ready on friday. Worst part is every time I go to my in laws I can see the house. Just at a total loss! We booked this house before stamp duty holiday so was a bonus when it came in, except we spent what would be that money on extras for the new house. No idea what costs will incur from the new build if we dont complete soon. I know another week is fine. I really do have zero confidence after the stunt that was pulled today. Been on this rollercoaster since early september. 😭 no chains, buyers are renting, downsizing with a very small mortgage. Would just like some answers! We are all ready to go here. 

Further update to this. Estate agent managed to get hold of our buyer at the end of the business day(how convenient they answered) the guy totally blasèd over today and all the phone calls, trying to get hold of them. Said him and his wife working shifts all week, cant get in to sign contract to complete next week. Our estate agent said it has to complete next week.  
Not long off the phone from our solicitor so we should have answer tomorrow as she'll be conversing with there solicitor. If we hear nothing by Wednesday, it could be a case of sign contract and complete or the house goes back on the market. We will have to make this work. Find the money some how for 2% SD either that or lose savings to solicitor fees. Hardest journey to be on but I'm holding out for this sale, not giving up yet. Will not be beaten! 

niknaks0285

e93 said:

Solicitor has confirmed all on track for completion 8th March! We wanted to exchange this week so we could give notice on our rental but solicitor isn't convinced it will happen until next week which is annoying because we need to give 2 months notice on rental ending on 27th of the month so we now might need to pay rent for 3 overlapping months 😩 Granted we should have realised this earlier 😔

I'm wondering is this the issue my buyer has as well except they have known about completition date from dec and it's down to them the contracts are not exchanged yet. 😞

Irishpearce26

niknaks0285 said:

niknaks0285 said:

😭 actually deleted a whole comment I wrote. Oh this day just goes from bad to worst! 
We were supposed to sign our contract for our new build today to complete on Friday! We cant do this as our buyers have gone silent, they were supposed to sign today as well. There solicitor cant get in touch, have left  numerous voicemails etc. They are ignoring the EA. This is all after Friday past when they said they are going in today to sign. I am fed up and totally at a loss! Apparently a note left on friday said something about problems with rent. 
Our new build is ready on friday. Worst part is every time I go to my in laws I can see the house. Just at a total loss! We booked this house before stamp duty holiday so was a bonus when it came in, except we spent what would be that money on extras for the new house. No idea what costs will incur from the new build if we dont complete soon. I know another week is fine. I really do have zero confidence after the stunt that was pulled today. Been on this rollercoaster since early september. 😭 no chains, buyers are renting, downsizing with a very small mortgage. Would just like some answers! We are all ready to go here. 

Further update to this. Estate agent managed to get hold of our buyer at the end of the business day(how convenient they answered) the guy totally blasèd over today and all the phone calls, trying to get hold of them. Said him and his wife working shifts all week, cant get in to sign contract to complete next week. Our estate agent said it has to complete next week.  
Not long off the phone from our solicitor so we should have answer tomorrow as she'll be conversing with there solicitor. If we hear nothing by Wednesday, it could be a case of sign contract and complete or the house goes back on the market. We will have to make this work. Find the money some how for 2% SD either that or lose savings to solicitor fees. Hardest journey to be on but I'm holding out for this sale, not giving up yet. Will not be beaten! 

You will be fine, its 5 weeks until the SDLT deadline and if its just the contract to be signed and returned then im sure it will get sorted. Perhaps the contract to be sent out to the vendor to have a neighbor witness? All our paper work was uploaded online and we printed and signed in witness with our neighbor. 

Insomniac101

No reply from solicitors today... I need a cry 

Tsj90s

So my solicitor called and proposed a completion of this time next week... I'm a bit sceptical because he needs the LISA funds and the mortgage funds to be released down... his exact words were 'we will give it a go'.fingers crossed though!!!  I'll let him take the wrap for rescheduling lol

e93

niknaks0285 said:

e93 said:

Solicitor has confirmed all on track for completion 8th March! We wanted to exchange this week so we could give notice on our rental but solicitor isn't convinced it will happen until next week which is annoying because we need to give 2 months notice on rental ending on 27th of the month so we now might need to pay rent for 3 overlapping months 😩 Granted we should have realised this earlier 😔

I'm wondering is this the issue my buyer has as well except they have known about completition date from dec and it's down to them the contracts are not exchanged yet. 😞

That sounds really frustrating. We had budgeted for 2 months overlap so another month isn't the end of the world and we definitely wouldn't delay exchange/completion for it!