The NEW waiting to exchange thread...

parkingadvice1212

rachlikeswinter said:

Hi all, I'm due to complete tomorrow (eee!) and just received my completion statement from my solicitor. (It is WAY higher than expected but that's by the by.) Does it have to be paid before completion can happen? Or can I still complete and then pay it next week, say?

Obviously don't want to delay completion WHATSOEVER but I'll be getting my rental deposit back next week which would be very useful....

You need to pay it or your solicitor won't have the money to complete your purchase

Lostthegame

rachlikeswinter said:

Hi all, I'm due to complete tomorrow (eee!) and just received my completion statement from my solicitor. (It is WAY higher than expected but that's by the by.) Does it have to be paid before completion can happen? Or can I still complete and then pay it next week, say?

Obviously don't want to delay completion WHATSOEVER but I'll be getting my rental deposit back next week which would be very useful....

Is there a figure for balance due to complete?

I have a smaller figure that needs to be payed before completion and then the rest of the solicitors fees to be paid on completion.

Nikkihud0609

rachlikeswinter said:

Hi all, I'm due to complete tomorrow (eee!) and just received my completion statement from my solicitor. (It is WAY higher than expected but that's by the by.) Does it have to be paid before completion can happen? Or can I still complete and then pay it next week, say?

Obviously don't want to delay completion WHATSOEVER but I'll be getting my rental deposit back next week which would be very useful....

I had to pay all of mine prior to completion 

Kelb93

I’ve just been told we have exchanged ahead of completion tomorrow 🥳🥳 Can’t quite believe it after close to 7 months in the process. Keep going everyone! You’ll get there 

sandeepsb

re-submitting my timeline here as my sellers seller has no received their grant of probate! A massive weight off!

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

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

25/02/2021 - Sellers Seller Grant of Probate has been received. Waiting on one response to an enquiry from our seller

Slips36

I’m selling and buying. Due to exchange today but unfortunately not happening today.
my buyer paid his deposit today at about 12:00 so probably have to wait for tomorrow.

Movinghome12345

We are pulling out hair out! We are relocating our daughter is due to start her new school on the 8th. All we r getting from buyers solicitor is they have agreed a completion of this date but until we exchange we can’t confirm our place. We are chasing our solicitors who is chasing them but they are not confirming they can exchange. I feel so awakard chasing twice a day but I don’t know what else to do!      

annetheman

rachlikeswinter said:

Hi all, I'm due to complete tomorrow (eee!) and just received my completion statement from my solicitor. (It is WAY higher than expected but that's by the by.) Does it have to be paid before completion can happen? Or can I still complete and then pay it next week, say?

Obviously don't want to delay completion WHATSOEVER but I'll be getting my rental deposit back next week which would be very useful....

Hey completion twin from B1 EWS1 Kent Reliance journey -- we made it!!!

I would definitely pay it today to clear ahead of tomorrow, as there will be an amount due to be sent to seller for completion that your payment of completion statement will add up to. E.g.
Total due to seller = -100,000
Mortgage = +95,000
Your reservation fee = +500
Your money paid to solicitor upon instruction = +500
Completion statement = 4,000
Balance = £-4000
If there is that 4,000 pending, you won't be able to complete.
Funnily enough mine was less than I thought, I overestimated the apportionment funds! But I paid it last week so they have the full "completion balance" beforehand... 
It wasn't great of them to send it to you the day before! They sohuld have given at least a few days for you to have time to clear it etc but it'll be instant but still. In any case, happy completion day tomorrow!!

I just got confirmation from solicitors saying the completion monies have been sent to seller!!

They will let me know tomorrow once Legal completion is confirmed and I'll go pick up my keys  I CANNOT believe it. Seriously feels unreal! 

Lucieb94

Nikkihud0609 said:

Well we should be completing tomorrow but as we are using the Forces Help to Buy scheme it’s so up in the air! Waiting for their funds to be sent to our solicitor, they claim to have sent on Tuesday so should be there today but they say it can take 3-5 working days 😩. I’m so over this, it’s so draining! Absolutely won’t move house again!! Lol

I’m so glad I’ve found someone else also using FHTB!! Could you help me out with the process? Conveyancing wise we are pretty much there, signed contracts etc just exchange and completion to go, however waiting on FHTB. We should be receiving the promissory note in the post tomorrow all being well, do you know how long this usually takes to review and then what happens? Thank you 😊

HoopyNJ

We finally completed yesterday!! It seems a good lot of you on here are at the exchange part - best of luck with the rest and congratulations. For those of you still waiting - you'll get there!

My timeline below for anyone interested:

22/08/20 - First viewing - fell in love but we'd only seen 5 houses by that point so wanted to keep options open.

27/09/20 - Second viewing, which confirmed our decision that the house was the one for us. House was no chain as sellers moving abroad.

28/08/20 - Offer made, a bit of back and forthing and final offer accepted.

03/09/20 - Mortgage application submitted via broker

04/09/20 - Solicitors formally instructed

14/09/20 - all documentation finally sent to solicitor

17/09/20 - Mortgage approved

23/09/20 - Solicitor confirmed to bank that we were happy with mortgage offer.

01/10/20 - Call from the estate agent who advised that the sellers had forgotten to complete a piece of paperwork and the sellers solicitor was just sitting on it.

02/10/20 - Homebuyers report and contract pack received, enquiries raised by our solicitor. Searches commenced.

19/11/20 - Searches FINALLY back.

25/11/20 - told by estate agent that our solicitor had received the responses to the final enquiries and had them on her desk.

9/12/20 - Upon chasing, turned out there was in fact *still* one enquiry outstanding.

14/12/20 - Told all enquires were back. At this point my solicitor was on medical leave so we were dealing with her assistant who said she would try and get the report out to us before Christmas. (She did not.)

12/01/21 - Finally got our report, contracts etc to sign!

14/01/21 - Everything signed, witnessed and returned.

18/01/21 - advised that sellers were unable to move abroad thanks to covid. They initially said if things had not changed by the end of March they would move out and stay with family/in a hotel as they didn't want us to miss the stamp duty holiday, but we realised our Mortgage offer expired early March. So pushed for them to be out by end of Feb.

26/1/21 - Completion date of 24th February agreed by all parties.

24/2/21 - simultaneous exchange and completion, phew!