The NEW waiting to exchange thread...

ohdarn

Tomorrow we have our valuation booked and we'll find out if we've just been wasting our time and money for the past five months. Hope they'll let us know on the day, I don't think we can cope with any more waiting.

Irishpearce26

ohdarn said:

Tomorrow we have our valuation booked and we'll find out if we've just been wasting our time and money for the past five months. Hope they'll let us know on the day, I don't think we can cope with any more waiting.

Valuation? Is that for the mortgage? If so they will let your lender know in 1-2 days then your conveyancer. How far are you in the process, searches done, enquires done, paperwork signed? 

ohdarn

Irishpearce26 said:

ohdarn said:

Tomorrow we have our valuation booked and we'll find out if we've just been wasting our time and money for the past five months. Hope they'll let us know on the day, I don't think we can cope with any more waiting.

Valuation? Is that for the mortgage? If so they will let your lender know in 1-2 days then your conveyancer. How far are you in the process, searches done, enquires done, paperwork signed? 

It's a valuation on our property for our buyer. Weird as they'd been pushing for a completion date last week and months ago the estate agent said they had their mortgage sorted out.
Everything is done, just one enquiry left to do. Searches done and contracts all signed, on our part and vendors anyway, not really sure where the buyer is up to now.
If our valuation is lower than asking price, we're done for.

Mani_London

Hi

I am waiting from 10th of February for vendor solicitor to reply to pre contract enquiries. Chased vendor through EA and the lady is chasing their solicitors. I will be sending email to my solicitors to chase other party and say we would like to exchange and complete before 31st. I am FTB and this is stressing me out. Everything from myside is ready. I dont know what the delay is. 

Irishpearce26

ohdarn said:

It's a valuation on our property for our buyer. Weird as they'd been pushing for a completion date last week and months ago the estate agent said they had their mortgage sorted out.
Everything is done, just one enquiry left to do. Searches done and contracts all signed, on our part and vendors anyway, not really sure where the buyer is up to now.
If our valuation is lower than asking price, we're done for.

I don't understand why they would want a valuation carried out if their mortgage lender have already done so unless they are fibbing and don't yet have the funds secured and are in the process of an application. If the mortgage is sorted and this valuation does down value it doesn't mean you have to reduce it just depends if the buyer cant afford it but if they have the mortgage sorted as they say it shouldn't be a problem. My concern here would be do they actually have a mortgage offer?

Cuddlybearman

Still.......................no........................news.........................

ohdarn

Irishpearce26 said:

ohdarn said:

It's a valuation on our property for our buyer. Weird as they'd been pushing for a completion date last week and months ago the estate agent said they had their mortgage sorted out.
Everything is done, just one enquiry left to do. Searches done and contracts all signed, on our part and vendors anyway, not really sure where the buyer is up to now.
If our valuation is lower than asking price, we're done for.

I don't understand why they would want a valuation carried out if their mortgage lender have already done so unless they are fibbing and don't yet have the funds secured and are in the process of an application. If the mortgage is sorted and this valuation does down value it doesn't mean you have to reduce it just depends if the buyer cant afford it but if they have the mortgage sorted as they say it shouldn't be a problem. My concern here would be do they actually have a mortgage offer?

As far as we're aware, they don't have a mortgage offer yet.
The estate agent seemed to think that this was entirely normal.
To me it seems bizarre that you'd do all the conveyancing stuff first and then do the mortgage application last.
But then also ask about completion dates etc.
Like I say, it all feels like they're being a bit shady about things and the estate agents are trying to cover their butts for not telling us/not knowing about what's happening.

Irishpearce26

ohdarn said:

As far as we're aware, they don't have a mortgage offer yet.
The estate agent seemed to think that this was entirely normal.
To me it seems bizarre that you'd do all the conveyancing stuff first and then do the mortgage application last.
But then also ask about completion dates etc.
Like I say, it all feels like they're being a bit shady about things and the estate agents are trying to cover their butts for not telling us/not knowing about what's happening.

I wouldn't be very happy with the EA as it sounds like they haven't got the funds secured yet to proceed yet the EA told you mortgage was sorted. What else have the twisted? I would ask them to confirm exactly how proceedable this buyer is.

Kelb93

Called my solicitors yesterday afternoon to find out what was going on with exchanging as I’d heard nothing since agreeing to a date last week and they’ve not been the best at replies as of late. Turns out my solicitor is off until later in the week so they had me down for simultaneous exchange and completion on Friday which I wasn’t aware of. Bit annoyed with the lack of communication about it. Mortgage offer (already extended) up on Sunday so I really hope this goes ok. 

niknaks0285

Irishpearce26 said:

niknaks0285 said:

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. 

Dont think I even trust our buyers to do that for this week. Seems we have came across every excuse over the last 3 weeks as to why the contract wasnt signed. I'm hoping our developer will stay relaxed to let us get this sorted. The other thing is their mortgage deadline is next month as it was 3 months from date approved which was in december, so surely they would need to complete before that runs out. 

You never know whats going on in the background, they may be steaming ahead and this is something that has just slipped. Keep the pressure on them, if you have the EA contact or even their details a polite nudge can help. Maybe tell them that you need to exchange within 72 hours in order to satisfy your developers. Once people start to see that their lack of action may impact others which then can impact them they will act fast.

I don't understand why anyone drags their heels with a house move, my wife and i have been packing the house like we are on a mission so we can complete to ensure our buyer (newly divorced) doesn't have to put her stuff in storage and move in with her daughter. Stay positive and keep looking forward.

Funny our solicitor had said yesterday about our buyers not realising how their actions are having an impact and that it needs to be known. Which would be true as they are renting. I'm annoyed as my husband booked off leave, we like yourselves are packed ready to be out on completition day. Also our blinds were due to arrive on saturday. The fact is they knew about this date early December and said yes it was fine. I dont think I would be as mad if they made us aware last week that this friday wasnt working for them.
Hoping to have a new date today for completition or even an answer as to what the real issue is. The excuse has been work related for 3 weeks but knowing people who work in their   industries it just doesnt add up. I hope they are not deciding to pull after 6 months, would be a really awful thing to do. On the flip side, houses on my street only sit for a week before agreed again. It's just this god awful process! Government really needs to a find a way to change it.