PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

The NEW waiting to exchange thread...

1…163164166168169…2053

Comments

  • JaneyLouWho
    JaneyLouWho Posts: 155 Forumite
    Woohoo - Our environment agency flood reports confirm that the pretty river at the back of the field behind the house we are buying hasn’t ever flooded the property, and only twice broke its banks and flooded the field since records began (despite our town being majorly flooded in 2012 that had no impact).
    Insurance is go!
    Now we wait for the chain to form. Ideally, this will take a little bit of time as although we are technically the bottom of the chain (currently renting) my mum is selling her house and giving us some of the proceeds for our deposit - she can raise the funds by other means if needs be, but we’d all rather she didn’t have to, so I’m not chasing the EA for info about the chain in case it puts the wind up anyone. But by the same token, I’m dying to know!!
    How long did it take for chains to form for those of you nearing exchange?

    Congrats to all making progress, sending a virtual vino to all those still waiting!
  • Cheery_Daff
    Cheery_Daff Posts: 15,693 Forumite
    First Post Name Dropper First Anniversary Photogenic
    Crikey MrsT, what a palaver! :eek: No advice sadly, just sympathy...

    JaneyLouWho - ours formed relatively quickly with us in the middle. We'd found and offered on a house, but they wouldn't take it off the market til we sold ours. Put ours on the market, had 15 viewings and several offers, and accepted one after a week. BUT they had to sell theirs - straight on the market, and they'd accepted one (from a first time buyer) within about 10 days. Then we decided against the house we'd offered on :o and it took us about 10 more days to find another one, which was empty, so the chain was complete :applause:

    So we offered on our original one right at the start of July, our house on market on 6th, then chain was complete on 9th August, so around a month in total, not bad going.

    (of course we later lost the bottom of the chain and had to find a new one, which has taken dead on a fortnight, but that's a different story... :rotfl: )

    Really depends how long it ends up being - our chain is only 4 long (FTB - our buyer - us - empty house). Probably depends how fussy your sellers are too! Good luck! :)
  • juniordoc
    juniordoc Posts: 366 Forumite
    We've completed and got our keys! We are FTB moving from rented so no mad rush to move which is a relief as I'm exhausted from a full-on week at work.
    It's all very surreal, waiting until the other half gets home from work so we can enjoy the bubbly from the estate agent and a takeaway!
    Thanks all for the support along the way :)
  • JoJo1978
    JoJo1978 Posts: 375 Forumite
    First Post
    Janeylouwho that's great!

    Chains can form really quickly, especially if people have been waiting for an acceptable offer for a while. Our chain of 5 formed quite quickly from the bottom up:

    * 5 days from market to offer on ours from someone with nothing to sell
    * +12 days for us to put an offer in. Would have been quicker but we were waiting for it to come back to mkt
    * +3 days for our vendors offer to be accepted. They had put it in back in April though! So were already a mini chain
    * +5 days for final link to form.

    So about a month to come together during which time legals were started. It took about another month and a half for the slowest in the chain to be ready to exchange. But it fell over on the day due to one link withdrawing!

    The bottom 2 links have each broken the chain to keep it going below the "problem." We did it, now our vendors have chosen that route too and are moving out before they find somewhere else.

    So chains may form quickly or slowly, the conveyancing can slow it down and people's unpredictability adds an element of tension.
  • FamilyOf4
    FamilyOf4 Posts: 4 Newbie
    First Anniversary Name Dropper First Post
    Hi new here, were in the process of buying a new house. Learning as we go didn’t realise how stressful it would be.
    Anyway we found our dream house a few weeks ago sellers where happy to wait for us to sell shortly after we accepted an offer on ours sent our paperwork last week valuations getting done beginning of next week. I’m hoping we hear after the valuation?
  • Cheery_Daff
    Cheery_Daff Posts: 15,693 Forumite
    First Post Name Dropper First Anniversary Photogenic
    Congratulations juniordoc! :j Glad you got there in the end :T

    Welcome Familyof4 :hello: Have a read back through this thread if you haven't already - that might give you some idea of the order things happen in (and also all the things that can go wrong... so maybe don't read it if you're easily scared! :eek: ) :D
  • SassySaver88
    SassySaver88 Posts: 85 Forumite
    First Anniversary First Post
    I wanted to say I am so glad to be finally here....

    Got a long awaited phone call from the broker today so say our Mortgage Offer has been sent and we should get it in the post next week :)

    Our homebuyers has been done and we're aware of the bits we need to do once in
    All enquiries sent just wanting on the vendors now

    I just wish I knew when exchange was likely to happen lol
  • JoJo1978
    JoJo1978 Posts: 375 Forumite
    First Post
    Hello to the new people today : )
  • archersluck
    archersluck Posts: 624 Forumite
    Snap junior doc!

    We completed today, at 16:40! Very glad we weren't waiting outside in a removal van.
    Too late to collect the keys and we're also FTB in rented so no rush.

    We'll pick them up tomorrow morning, hope too feel a bit more excited then as it's all a bit of an anticlimax right now!

    Saving for a deposit: £11,621.15
    20/25lbs
  • Cheery_Daff
    Cheery_Daff Posts: 15,693 Forumite
    First Post Name Dropper First Anniversary Photogenic
    Ooh, congratulations archersluck! :j :j :j Love it when people do actually move :T :rotfl:
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards