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The NEW waiting to exchange thread...

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Comments

  • mattcafc
    mattcafc Posts: 64 Forumite
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    tudorfan22 wrote: »
    mattcafc - we are sellers and our buyers seem in a similar place to you - can I just ask why your mortgage survey is coming after searches and contracts etc? I just always assumed the mortgage survey came first? My EA says not to worry but ive been having kittens thinking that's theres a problem seeing as they are getting the survey so late in the date, but im not expert so it may be totally normal!
    just wondered why your timeline is in that order


    Yeah you're correct in that it usually comes first. We were confident though there would be no problems with getting a mortgage and wanted things to move as fast as possible, so got our solicitor to arrange the searches as soon as our offer was accepted.
  • tudorfan22
    tudorfan22 Posts: 436 Forumite
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    Im just hoping the survey to mortgage offer to signature to exchange timeline is a quick one, our buyers had the survey on weds and ive bitten every nail on my hands and toes wanting the exchange to go ahead, annoyingly our buyers sols only works 3 days a week! im hoping that we could still exchange if she wasn't working - could she do 5 mins of work from home or schedule around it maybe?
    I never want to deal with solicitors again ever! lol
    )

    :beer:
  • Surrey_EA
    Surrey_EA Posts: 2,042 Forumite
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    tudorfan22 wrote: »
    mattcafc - we are sellers and our buyers seem in a similar place to you - can I just ask why your mortgage survey is coming after searches and contracts etc? I just always assumed the mortgage survey came first? My EA says not to worry but ive been having kittens thinking that's theres a problem seeing as they are getting the survey so late in the date, but im not expert so it may be totally normal!
    just wondered why your timeline is in that order

    The mortgage valuation, along with a survey if one is taking place, should be considered as entirely separate parts of the process to ordering of searches.

    There is no right or wrong order for these things to be done in. I would say ideally both elements should be happening at a similar time alongside one another.
  • Surrey_EA
    Surrey_EA Posts: 2,042 Forumite
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    mattcafc wrote: »
    Searches have all been done.
    Contract has been sent to me from solicitors.
    Mortgage has been approved pending valuation which takes place on Monday

    Is there anything else left to happen? When the valuation is done monday, I just accept the mortgage, then not sure if there is anything left to do rather than arrange an exchange date?

    Have all of the enquiries raised by your solicitor been satisfactorily answered?

    It is possible that there may be information contained within the mortgage offer which will prompt further enquiries from your solicitor.

    Typically you don't arrange an exchange date, exchange usually happens at the first point in time that all parties are ready.
  • jennhg88
    jennhg88 Posts: 253 Forumite
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    Buyer has just changed solicitor.
    I have no words.
  • Magnus91
    Magnus91 Posts: 66 Forumite
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    So I'm a FTB and the estate agent is Andrews.

    We just received draft contracts from the sellers yesterday (after 7 weeks!) and Andrew's have their own online tracking system that my solicitor updates.

    It's just been updated to say:
    Your contract documents have been received.
    Your contract documents have been checked.
    Documents have been sent to your seller's solicitor.
    Your contract has been approved.

    Does anyone know what all this means?

    What would they have sent to the seller's solicitor?
    Is it the enquiries?

    My solicitor told me yesterday that her report will be typed and sent out to me shortly, so I haven't seen anything yet, but I assume my solicitor raises general enquires without me?

    Thanks!
  • Magnus91
    Magnus91 Posts: 66 Forumite
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    Jtotz67 wrote: »
    Congratulations!


    for all the progress we seemed to make yesterday afternoon it has all slumped again today :(

    I think exchange on Friday is now well and truly off the cards for us which really scuppers us financially to the point we may have to pull out of the transaction.


    Gutted but we are not willing to bankrupt ourselves! Still trying to keep some hope!

    Did you manage to exchange today? :)
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    mattcafc wrote: »
    Is there anything else left to happen?

    While much has been done. There's more for the solicitor to do yet. Withut a mortgage offer on the table your vendor might not be quite so quick off the mark.
  • deuxchatsnoirs
    deuxchatsnoirs Posts: 19 Forumite
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    HOPEFULLY exchanging and completing today. Solicitor assured us exchange would be first thing this morning.

    I haven't slept at all and I'm on tenterhooks! I know it would be just my luck for something to go wrong :(
  • jennhg88
    jennhg88 Posts: 253 Forumite
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    And so begins another week of chasing and moaning......
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