The NEW waiting to exchange thread...

Natbag

SlowlyLosingIt said:

Question of the day, to beat the stamp duty...could you exchange and complete but not actually move out 🤣 I'm thinking if for example you can't get removals etc until the week after and have to complete very last minute ...and you could have a gentleman's agreement that you would all live in each others houses for a week or so...

Your insurance wouldn't be valid, so essentially you would have someone else living in a property you've just paid a fortune for and isn't insured - probably not advisable!
I feel your pain on the deadline though.

Caz_Mnaz

I'd be v surprised if he keeps the rigid cut off date. 6 week extension /tapering would get me through.... She says, over confidently 😂

Natbag

Caz_Mnaz said:

I'd be v surprised if he keeps the rigid cut off date. 6 week extension /tapering would get me through.... She says, over confidently 😂

I hope so. Although I'm not even sure a 6-week extension would help me at the moment. Really hoping they extend it by more, or just to cover everyone already in the process. Wishful thinking I'm sure!

Seashell517

SlowlyLosingIt said:

Question of the day, to beat the stamp duty...could you exchange and complete but not actually move out 🤣 I'm thinking if for example you can't get removals etc until the week after and have to complete very last minute ...and you could have a gentleman's agreement that you would all live in each others houses for a week or so...

Look at completing on a day that isn't Friday. Movers are less busy on other days (with the exception of perhaps Weds March 31st, if Sunak doesn't announce an extension...) 

If it gets really tight, hire van and storage, move yourself into storage then only need to move bed and such on the day... Hoping it doesn't come to that though!

Mani_London

My vendors solicitors are sitting on the enquires we have raised on 10th of Feb. Everything from my side is ready. Chasing EA and she is saying vendors has chased the solicitors. But my solicitors have not received anything. Really frustrating. 

sandeepsb

sandeepsb said:

sandeepsb said:

Hi all

Been browsing this forum during the house purchase process and I've learned some great tips

My timeline as a FTB is

21/11/2020 - House Viewed
21/11/2020 - Offer made
23/11/2020 - Increased offer, offer accepted
24/11/2020 - Mortgage submitted via a broker, valuation booked in.
26/11/2020 - Solicitor appointed
04/12/2020 - Mortgage Valuation conducted, mortgage approved
06/12/2020 - Further negotiations, increased offer again by £5k
07/12/2020 - Offer accepted, chain is complete (seller buying vacant house)
09/12/2020 - Change of solicitor, initial documents sent to Solicitor
06/01/2021 - Draft contracts received from seller's Solicitor, searches have been ordered

Now it's the waiting game for the searches to come back - right now the Council website states there is a 25 day return time on searches.

An update here

08/02/2021 - All Searches and enquiries (except one) are back

The final long part is that we need to wait on a Grant of Probate (submitted in October) - very stressful!

Heard some extremely annoying news today, turns out the Inheritance Tax that my sellers seller had paid was only received by HMRC and a receipt provided on teh 29th Jan. Our sellers seller has been told on the phone that the probate is currently on the system for a decision to be made on the grant and have been given an estimated timeframe of 5 - 6 WEEKS!

It means we may not be able to complete before the stamp duty holiday costing us an extra £15k! Feeling so gutted right now.

SoTiredTho

Waiting for our paperwork to reach the solicitors so that we can hopefully exchange. This is the exact point we were at with house purchase attempt no. 1 when the chain collapsed, so feeling extremely on edge. 

Dropped it off at our local branch on Friday and I know it hasn't been very long but I don't know how to deal with the wait! Our vendor is very keen and ready  to move so they're understandably breathing down our necks. I would be the same in their position, but outside of checking in with our solicitor everyday there's not that much I can do to speed this bit of the process up. Running out of time for news today, so got our fingers crossed for tomorrow. 😕

HoopyNJ

We're due for simultaneous exchange and completion tomorrow! I can barely sit still! 

niknaks0285

crumblylancashire said:

niknaks0285 said:

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. 

Its the opposite way around for us.  We're at the bottom of the chain, in rental, and the seller is the one we're waiting on.  If it doesn't hurry up, we need to be out of the rental by the end of the month (as agreed with the landlord), so in the next 2/3 weeks, we need to look for a new home.  At that stage, and if that happens, then we'll have to delay things because we have a new 6 month rental contract.  Been trying to move since September.

Yes it's the waiting without answers. Leaves you in such a limbo. Hope you get answers soon. Think we have to hit our buyers with a deadline for this week. Except they wont get in touch, we cant do anything until they do. Everyone is fed up with them, there solictor ours and the EA. Solicitors today have said they can't get a hold of them. No idea why they are delaying. I would be gutted to lose my new house as it was everything we needed. 

Luna1719

Just thought I’d share my timeline as I posted here a little while ago . We got our offer accepted on the 7 January and exchanged very quickly - this happened in the first week of February ! We were advised the day before exchange . We are however completing on the 1 March on our sale and the 19 of March on our purchase as the sellers were not willing to complete earlier so we have to stay in an Airbnb in the meantime - fingers crossed it all goes smoothly!