The NEW waiting to exchange thread...

Magnus91 · 20 October 2018 at 9:54PM

Magnus91 wrote: »

Now hit the 5 months mark since the offer was accepted

One issue with the land registry which requires more info from the local court.
We should have gotten this info 2 weeks ago, the vendor is apparently going there in person to chase it up today.

So mentally draining, I can't describe how much I'm looking forward to it all being over! I'm fed up of thinking about it.

My mortgage offer runs out mid November, and I have to give notice for my current rented place at the start of the month.

Finally got this information on Friday after much complaining that it's taking so long!

Sending this to the land registry on Monday and the solicitors are confident we can exchange within the next 2 weeks! :eek::j

Please let us be close to the end finally!

Magnus91 · 20 October 2018 at 10:02PM

Ellhan wrote: »

We're FTB and new to all this. We're buying shared ownership. I know lots of people think doing this is silly, but it's the best option for us.

Timeline so far:
27/9 Memorandum of Sale issued and solicitor requests info from vendor's solicitor.
11/10 solicitor confirms (after chasing) that draft contract has been received, enquiries sent and searches begun. They include the fixtures and fittings form and we have a query which they forward to vendor's solicitor.
15/10 mortgage offer received
16/10 solicitor confirms they have had the drainage and environmental searches back, still awaiting LA search.

In the MOS the suggested exchange date is 7/11. Not sure how likely that is but we really want to complete by 23/11. Does 4 weeks until exchange seem possible? There is no chain, we are renting and vendor is moving abroad to live with her husband who is already out there.

From what I understand we need a mortgage deed and then once the search is back we should get a contract sent for us to look over and agree. Is that all there is to wait for now?

Definitely possible!
Took us about 6 weeks to even get the draft contacts so you're doing well there!

I guess all you're reliant on is how fast the rest of the searches take and how quick the vendor replies to enquires and if more need to be raised.

My mortgage offer runs out on 23/11 so I need to complete by then too

NicolaScot · 21 October 2018 at 4:03PM

Hi all, just wanted to post my timeline as proof that sometimes everything goes to plan and things can happen fast! (In Scotland at least!)

AIP - 06/09
Property viewed, verbal offer made and accepted - 07/09
Solicitor instructed 10/09
Written offer made - 10/09
Written offer accepted - 11/09
Mortgage application made - 13/09
Valuation - 19/09
Offer made by Halifax - 21/09
Offer received by post - 24/09
Missives concluded - 10/10
Halifax release funds - 19/10
Date of entry will be - 26/10!

bigstevex · 21 October 2018 at 9:14PM

^ Wow, that's what we wanted to happen.... Has failed and gone on for 3 months so far instead

Magnus91 · 21 October 2018 at 9:47PM

NicolaScot wrote: »

Hi all, just wanted to post my timeline as proof that sometimes everything goes to plan and things can happen fast! (In Scotland at least!)

AIP - 06/09
Property viewed, verbal offer made and accepted - 07/09
Solicitor instructed 10/09
Written offer made - 10/09
Written offer accepted - 11/09
Mortgage application made - 13/09
Valuation - 19/09
Offer made by Halifax - 21/09
Offer received by post - 24/09
Missives concluded - 10/10
Halifax release funds - 19/10
Date of entry will be - 26/10!

Living the dream! Congrats!:T

NicolaScot · 21 October 2018 at 9:55PM

Thanks Magnus91. To be fair, the house we’re buying is already empty as the seller has already moved out following a separation and wanted a quick sell. We’re first time buyers so non chain. Even then though, I think we were just really lucky!

jennhg88 · 22 October 2018 at 9:00AM

Good luck to those exchanging and completing this week

Fingers crossed for some progress.

Throwaway1 · 22 October 2018 at 10:26AM

We've finally got all building regulation certificates from the vendor that we have been waiting on and as far as we know we are ready to exchange. Ideally we want it to happen before the 29th Oct so we can give notice on our rented place by the end of the month. We emailed our solicitor over the weekend stating that that would be our ideal but is it realistic? I'm not sure how long it takes them to get everything together. We have already had all our searches/surveys etc. back and the vendor is desperate to complete as soon as possible (he inherited the property so it's just sitting empty and there is no onward chain). I know we still need to sign the documents but I don't know if it's a case of it can be done almost immediately or if there's things that need to go on that I don't know about and it could take weeks. We really don't want to miss the chance to hand in our 1 month's notice by the 31st as that would put everything back a month.

Magnus91 · 22 October 2018 at 10:34AM

NicolaScot wrote: »

Thanks Magnus91. To be fair, the house we’re buying is already empty as the seller has already moved out following a separation and wanted a quick sell. We’re first time buyers so non chain. Even then though, I think we were just really lucky!

Definitely, I'm a FTB and the property I'm buying is also empty so no chain here either, but I'm already over the 5 month mark! Hoping the end is finally in sight now though :rotfl:

Thrugelmir · 22 October 2018 at 10:37AM

Throwaway1 wrote: »

the vendor is desperate to complete as soon as possible (he inherited the property so it's just sitting empty and there is no onward chain).

Probate has been granted?

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The NEW waiting to exchange thread...

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