The NEW waiting to exchange thread...

Caz_Mnaz

My purchase doesn't have a completion certificate for their extension so they're getting indemnity insurance as we're as satisfied we can be that it's structurally sound  

amandacat

I previously had my timeline on here for selling and completed beginning of Feb.
Relocated and living with family so now the new timeline begins for our purchase. 

8.2.21- offer accepted on the house we want to purchase (no chain) house currently empty 
10.2.21- solicitors instructed and EA sent memo of sale
16.2.21- after some chasing we finally received the forms from the solicitors by email to fill in to get things started
22.2.21- visited solicitors office with ID, initial payment and signed forms (earliest date we could get as by appointment only understandably due to Covid) 
22.2.21- broker submitted full mortgage application 
26.2.21- mortgage offer received (desktop valuation was carried out) 
Now anxiously waiting for some sort of correspondence from our solicitors and have requested another viewing to remind myself what the house looks like and start measuring up and also to consider if I want to arrange a home buyers report or not (house was only built 3 years ago) 

Anty21

Had word this weekend that we should be at point of exchange this week - trying not to get our hopes up as we believed we were here mid Jan and it is dragging! Up against all sorts of deadlines so desperately hoping it will all come together before this time next week 🤞🏻

parkingadvice1212

Anty21 said:

Had word this weekend that we should be at point of exchange this week - trying not to get our hopes up as we believed we were here mid Jan and it is dragging! Up against all sorts of deadlines so desperately hoping it will all come together before this time next week 🤞🏻

Good luck, hope you get some positive news tomorrow.
After weeks of dragging it out I've been told everyone has settled on a completion date of the 15th which would mean we would have to exchange next week by thursday latest.. it'll be interesting to see if they can get a move on now!

Anty21

parkingadvice1212 said:

Anty21 said:

Had word this weekend that we should be at point of exchange this week - trying not to get our hopes up as we believed we were here mid Jan and it is dragging! Up against all sorts of deadlines so desperately hoping it will all come together before this time next week 🤞🏻

Good luck, hope you get some positive news tomorrow.
After weeks of dragging it out I've been told everyone has settled on a completion date of the 15th which would mean we would have to exchange next week by thursday latest.. it'll be interesting to see if they can get a move on now!

Exciting times, but will be anxious until we actually exchange and agree completion.....hope you get your exchange this week - we could be moving around the same time 

Irishpearce26

parkingadvice1212 said:

Anty21 said:

Had word this weekend that we should be at point of exchange this week - trying not to get our hopes up as we believed we were here mid Jan and it is dragging! Up against all sorts of deadlines so desperately hoping it will all come together before this time next week 🤞🏻

Good luck, hope you get some positive news tomorrow.
After weeks of dragging it out I've been told everyone has settled on a completion date of the 15th which would mean we would have to exchange next week by thursday latest.. it'll be interesting to see if they can get a move on now!

Why do you need to exchange 11 days before completion? You can do both on the same day.

FTB_Help

Doodlebugs said:

FTB_Help said:

Im buying a property that currently have tenants, they now won't be leaving until beginning of May!

Are they still hoping to leave the country? Hopefully they’ll be able to sooner with the restrictions easing soon.  

Did the vendor offered them any money to leave sooner? 

I didn't get the fall story as i was just really shocked when the EA called.

Back when we had our offer accepted, we were told they were leaving the country in the 1st week of May and the vendor was going to pay them to leave earlier in Feb, but thats no longer happening not sure why.

Even with lockdown being lifted i doubt they'll leave earlier than planned.

So im just counting down the days now!

How is your sale going? Did you get a chance to view your new house yet?

Gentoo365

Irishpearce26 said:

parkingadvice1212 said:

Anty21 said:

Had word this weekend that we should be at point of exchange this week - trying not to get our hopes up as we believed we were here mid Jan and it is dragging! Up against all sorts of deadlines so desperately hoping it will all come together before this time next week 🤞🏻

Good luck, hope you get some positive news tomorrow.
After weeks of dragging it out I've been told everyone has settled on a completion date of the 15th which would mean we would have to exchange next week by thursday latest.. it'll be interesting to see if they can get a move on now!

Why do you need to exchange 11 days before completion? You can do both on the same day.

Some people want certainty before arranging removals and various other things.
If you choose to exchange on completion date then it is the same has having no contract, anyone can drop out.

I understand the concerns around COVID, but if that caused a delay, at least you have exchanged so completion is just delayed, not cancelled.

Irishpearce26

Gentoo365 said:

Irishpearce26 said:

parkingadvice1212 said:

Anty21 said:

Had word this weekend that we should be at point of exchange this week - trying not to get our hopes up as we believed we were here mid Jan and it is dragging! Up against all sorts of deadlines so desperately hoping it will all come together before this time next week 🤞🏻

Good luck, hope you get some positive news tomorrow.
After weeks of dragging it out I've been told everyone has settled on a completion date of the 15th which would mean we would have to exchange next week by thursday latest.. it'll be interesting to see if they can get a move on now!

Why do you need to exchange 11 days before completion? You can do both on the same day.

Some people want certainty before arranging removals and various other things.
If you choose to exchange on completion date then it is the same has having no contract, anyone can drop out.

I understand the concerns around COVID, but if that caused a delay, at least you have exchanged so completion is just delayed, not cancelled.

I get why its best to exchange early but he is stating they need to exchange at the latest 11 days beforehand so just interested as to why. 

Anyone can drop out after exchange they are duty bound to compensate which is a certain percentage of the deposit.

Anty21

Irishpearce26 said:

parkingadvice1212 said:

Anty21 said:

Had word this weekend that we should be at point of exchange this week - trying not to get our hopes up as we believed we were here mid Jan and it is dragging! Up against all sorts of deadlines so desperately hoping it will all come together before this time next week 🤞🏻

Good luck, hope you get some positive news tomorrow.
After weeks of dragging it out I've been told everyone has settled on a completion date of the 15th which would mean we would have to exchange next week by thursday latest.. it'll be interesting to see if they can get a move on now!

Why do you need to exchange 11 days before completion? You can do both on the same day.

We have been asked by the rest of chain to have 2 weeks in-between, I think it is down to each chain to decide what is appropriate for their circumstances. Our vendors, and their ongoing purchase both have valid reasons for the 2 weeks & I actually wouldn’t want to exchange and complete on the same day, but would prefer 1 week between the 2 dates.