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The NEW waiting to exchange thread...

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Comments

  • juniordoc
    juniordoc Posts: 366 Forumite
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    Our solicitor confirmed on Tuesday she had received replies to all enquiries, she said she would "review and report" to us "shortly".
    That was 48 hours ago and no contact since. Do solicitors speak another language to everyone else? Shortly in my book would imply same day or next day.....
    She knows we have a deadline of 2 weeks today to exchange or the whole thing will be delayed by 6 weeks.
    Trying to wait another hour or 2 to give her time to respond before I call and chase. She probably won't even be in the office today or something...
  • Jaglad111
    Jaglad111 Posts: 146 Forumite
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    Fingers crossed Natbag, hope all goes well!
  • Natbag
    Natbag Posts: 1,563 Forumite
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    juniordoc wrote: »
    Do solicitors speak another language to everyone else?

    Yep! They move at a snail's pace and speak very vaguely!

    Jaglad - thank you, same to you too! :D
    Property buying/selling timeline - currently into week 21
    04/12/20: Both properties listed for sale
    11/01/21: Offers accepted on both sales & on our joint purchase
     25/01/21: Identity checks completed, solicitors instructed
     27/01/21: Purchase survey & valuation complete, mortgage offer received 
     05/02/21: Reduction agreed on partner's sale (under-valuation) & on purchase. Mortgage offer amended
     08/02/21: Buyers pack returned to solicitor - sellers packs already returned
    26/02/21: Partner's sale contract signed
    10/03/21: Purchase searches all back
    16/03/21: My sale contract signed
    28/03/21: Purchase enquiries satisfied, Title Report & contracts issued, contracts signed & returned
    11/05/21: Still waiting on final enquiry in the adjoining chain to be resolved. Consent to break the chain granted, instruction to move to exchange given.
    17/05/21: All parties agreed to June 3rd for completion
    27/05/21: Exchanged on my sale only
    28/05/21: ALL EXCHANGED!
    03/06/21: Completion
  • Originalpseudonym
    Originalpseudonym Posts: 8 Forumite
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    Things happened too quickly for me to post whilst waiting for exchange.

    We got very lucky in that my husband and I are first time buyers and the sellers are moving in to rented accommodation so that they can hunt for their dream home and not be in a chain.

    Here's the timeline of a super quick sale:

    23 September: Viewing and put in an offer £25,000 under the asking price.
    Offer was accepted (I think us being first time buyers with MIP helped - plus their asking price was ridiculous even for London standards)
    26 September: Instructed Solicitors
    29 September: Draft Contract Received
    16 October: Searches Completed
    18 October: Deposit paid and mortgage deed signed
    20 October: Exchange Complete
    26 October: Completion funds received by solicitors
    27 October: Pick up the keys!:T

    So assumring no hiccups between now and tomorrow, it will have been 34 days from offer to completion. :j

    I must say that the sellers agent was like a rotweiler - pushing solicitors to get things done - really forcing them to work quickly.

    Went to the property the day after exchange for a cup of tea with the sellers and to take some measurements.

    Now we just have to hope our current landlord finds new tenants as quickly as possible so we don't have to pay rent and mortgage for too long!


    So after paying rent for 12 years in London, I will finally own my own home - in London (albeit the outer suburbs). Our mortgage will be £400 less every month :eek: than what we've been paying in rent for 2.5 years - so that's nice!

    :beer:
  • Natbag
    Natbag Posts: 1,563 Forumite
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    That's awesome, nice to know it can be quick and easy sometimes!
    6 weeks for us (from finding our latest buyers) if we do get the keys tomorrow, although it could have been done in less if we hadn't been waiting 5 weeks for our buyers' mortgage offer to be sorted - they delay was down to the employer. Hey ho!
    Property buying/selling timeline - currently into week 21
    04/12/20: Both properties listed for sale
    11/01/21: Offers accepted on both sales & on our joint purchase
     25/01/21: Identity checks completed, solicitors instructed
     27/01/21: Purchase survey & valuation complete, mortgage offer received 
     05/02/21: Reduction agreed on partner's sale (under-valuation) & on purchase. Mortgage offer amended
     08/02/21: Buyers pack returned to solicitor - sellers packs already returned
    26/02/21: Partner's sale contract signed
    10/03/21: Purchase searches all back
    16/03/21: My sale contract signed
    28/03/21: Purchase enquiries satisfied, Title Report & contracts issued, contracts signed & returned
    11/05/21: Still waiting on final enquiry in the adjoining chain to be resolved. Consent to break the chain granted, instruction to move to exchange given.
    17/05/21: All parties agreed to June 3rd for completion
    27/05/21: Exchanged on my sale only
    28/05/21: ALL EXCHANGED!
    03/06/21: Completion
  • Cheery_Daff
    Cheery_Daff Posts: 15,710 Forumite
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    Crikey, that IS quick - fastest person award to you!!
  • Upsy_Staffordshire
    Upsy_Staffordshire Posts: 375 Forumite
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    Well I'm nervous for both of you Cheery Daff & Natbag!

    I really hope everything goes to plan tomorrow Natbag - I hope you keep us updated on here!

    Waiting to hear that contracts have been exchanged. Hoping it will be today, but it depends on our buyer's solicitors who have been taking forever to do anything, so we will see! It took our solicitor, our buyer and our EA all chasing them just for them to finally call our solicitor confirming our completion date was agreed by our buyer, so goodness knows how long exchanging contracts will take :rotfl:
    Thank you to everyone who posts on here :)
  • Natbag
    Natbag Posts: 1,563 Forumite
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    Exciting Upsy, hope it all goes ahead without a hitch!
    Well our solicitor just sent our completion statement with details of mortgage, monies owed, monies received, etc. It states tomorrow as being the completion date so I'm really hoping this is a good sign! I've asked if this means we are definitely completing tomorrow or if it's still uncertain - fingers crossed! :D
    Property buying/selling timeline - currently into week 21
    04/12/20: Both properties listed for sale
    11/01/21: Offers accepted on both sales & on our joint purchase
     25/01/21: Identity checks completed, solicitors instructed
     27/01/21: Purchase survey & valuation complete, mortgage offer received 
     05/02/21: Reduction agreed on partner's sale (under-valuation) & on purchase. Mortgage offer amended
     08/02/21: Buyers pack returned to solicitor - sellers packs already returned
    26/02/21: Partner's sale contract signed
    10/03/21: Purchase searches all back
    16/03/21: My sale contract signed
    28/03/21: Purchase enquiries satisfied, Title Report & contracts issued, contracts signed & returned
    11/05/21: Still waiting on final enquiry in the adjoining chain to be resolved. Consent to break the chain granted, instruction to move to exchange given.
    17/05/21: All parties agreed to June 3rd for completion
    27/05/21: Exchanged on my sale only
    28/05/21: ALL EXCHANGED!
    03/06/21: Completion
  • Jaglad111
    Jaglad111 Posts: 146 Forumite
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    We will be fine Nat, all the EA's will want it done by months end for their bonus, the solicitors will like to tidy their inbox too, roll on 5 years of diy projects!
  • london.cidade
    london.cidade Posts: 142 Forumite
    First Anniversary First Post
    edited 26 October 2017 at 12:19PM
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    My timeline
    1 The second offer(30k less) accepted on the maisonette that we are buying 17/07
    2 Solicitors Instructed 9/08 (took too long, caused by the vendor`s latency)
    3 Mortgage offer issued 11/08
    4 Home buyer`s survey took place 14/08
    5 The seller`s solicitor sent the draft contract 11/09 (had to call the EA and told him we`ll pull out unless all documents have been sent until end of the week)
    6 Remitted the deposit fund and signed all exchange documents 24/10 (needed to talk different parties many times, solicitors don't talk each other, the seller is in no rush because he will go into rented accommodation till he finds a house to buy, his first attempt failed, The EA is a very good guy, helped a lot for conveying my messages to the seller and to the sellers solicitor as well)

    Expecting news on the completion of the exchange from my solicitor. Both solicitors agreed to exchange the contracts within the current week.

    We agreed on completion date as 1st of Dec.

    In the meantime, Talking to removal firms and to some painters, next will be talking to few handyman for my fitted wardrobe project in the loft (has sloped ceilings).
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