The NEW waiting to exchange thread...

BountyBlink

So after a row with our agent yesterday, them bringing round flowers and a long apology email, today he calls 🙄 to say our buyer needs us to take out a £350 indemnity insurance... my reply was.... Can I get this straight... we are breaking the chain for our buyers, so they can move in quickly, and us go into at least a 6 month rental in a much smaller property, which will cost us £400 extra a month plus two sets of removals, chaos for our your children, not to mention stress and anxiety for the duration 
AND 
THEY 
WANT 
US 
TO 
PAY
WHAT????!!!!
sometimes I think I’m living in a parallel universe!!!! 

parkingadvice1212

BountyBlink said:

So after a row with our agent yesterday, them bringing round flowers and a long apology email, today he calls 🙄 to say our buyer needs us to take out a £350 indemnity insurance... my reply was.... Can I get this straight... we are breaking the chain for our buyers, so they can move in quickly, and us go into at least a 6 month rental in a much smaller property, which will cost us £400 extra a month plus two sets of removals, chaos for our your children, not to mention stress and anxiety for the duration 
AND 
THEY 
WANT 
US 
TO 
PAY
WHAT????!!!!
sometimes I think I’m living in a parallel universe!!!! 

Some people just don’t understand how the world works. I imagine they’re the same people that see something advertised for free and expect it to be delivered to them. 

Anty21

BountyBlink said:

So after a row with our agent yesterday, them bringing round flowers and a long apology email, today he calls 🙄 to say our buyer needs us to take out a £350 indemnity insurance... my reply was.... Can I get this straight... we are breaking the chain for our buyers, so they can move in quickly, and us go into at least a 6 month rental in a much smaller property, which will cost us £400 extra a month plus two sets of removals, chaos for our your children, not to mention stress and anxiety for the duration 
AND 
THEY 
WANT 
US 
TO 
PAY
WHAT????!!!!
sometimes I think I’m living in a parallel universe!!!! 

Just catching up @BountyBlink I can see you have decided to break the chain, what on earth do the buyers need an indemnity insurance policy of that value for at this stage - one was needed on both our sale and purchase, sale was to cover missing building regs for log burner and cost £30 (ish) & our seller provided a bespoke one for us relating to building regs for an extension from the 90’s which was a bit more expensive but was still under £100 - the solicitor added about £50 for arranging.... both were done whilst still at enquires stage and not when we were ready for exchange! 

Going into temp accommodation isn’t easy but at least you will still have your own space/privacy - we have been with family & although it’s gone great, no upsets I am so ready for us to be in our own routine again 😂
It does secure your sale and allow that stress to pass knowing that you can move in to a new home without having to start the process again, we definitely did the right thing so I am sure you will feel the same once you get to exchange point on your purchase (which may feel like it’s ages away but will be worth the wait!) I feel like the weeks are flying by at the moment so hopefully you will feel the same when you get to the rental. Good Luck 😊

Caz_Mnaz

... Definitely a remove all light bulbs, maybe even the odd door handle situation when you leave 😂

Insomniac101

It’s Thursday, second half of the week again... will we get that phone call for exchange today or tomorrow?

parkingadvice1212

Insomniac101 said:

It’s Thursday, second half of the week again... will we get that phone call for exchange today or tomorrow?

We finally exchanged at 4.45pm last Friday so it can happen right up until the weekend starts!

Insomniac101

@parkingadvice1212 sounds about right with how slow this has all gone in the last month, though we did hear that our buyers solicitor emailed to clarify something yesterday?! When they were the ones rushing us to exchange and complete 🤦‍♀️ We and our sellers are ready, the sellers are packed and ready to go into rental to break the chain, we are packing.... and looking for removers, but we can’t book the removers till exchange with confirmation of completion date.  

Olive3

After being told that our buyers were ready to exchange a couple of weeks ago and being pushed to exchange as soon as possible, we now find out they are not ready! They are considering whether to apply a COVID rider, and their solicitor wants to see their buildings insurance certificate. We, and our vendors have been ready to exchange since last Friday. We still have time, as the agreed completion date is 26 March. But their estate agent has been applying pressure, and making it seem like we were holding things up - when their client isn't ready. Still hoping to exchange this week. 
Good luck everyone! I'm rooting for you all!

naomibm

hi everyone...ive been following everyone's journeys but haven't yet commented...good to see that others are exchanging and moving-it gives me hope! we sold ours a few months ago and have had offered accepted on our forever home not far from where we are. our buyers have been quite hard work, their solictor even worse and both digging their heals in and making it really stressful.  we have given them thousands off the price they offered just to get things moving. their solictors seem to constantly have ridiculous enquiries, we could have exchanged weeks ago...i would love to exchange this week but its looking unlikely. 

Jazzy089

Hi just looking people's thoughts on when we could be looking at exchange / completion. Timescale as follows so far: 
5/2 Viewed house
8/2 Offer accepted
9/2 DIP
11/2 Mortgage application submitted
15/2 Additional docs submitted
15/2 Solicitor instructed
16/2 Valuation done
18/2 Hard search done
22/2 Mortgage offer
25/2 Mortgage offer received in post
I have heard nothing since. I asked solicitor 2 weeks ago for update and was told they are waiting on deeds being sent from vendors solicitor and they will review once received.
The vendor has found a house and there is no chain on their end. We are FTBs so no chain either. Thanks for any input.