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  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,514Posts
    • 9,224Thanks
    happytails
    The NEW waiting to exchange thread...
    • #1
    • 27th Jul 17, 5:20 PM
    The NEW waiting to exchange thread... 27th Jul 17 at 5:20 PM
    So the other thread has gone awol so thought i'd start a new one! It was keeping me sort of sane during the house buying/selling process!

    A place to document your timelines and discuss the triumphs and woes of moving house!




    My timeline -
    Offer received and accepted on our house 17/07
    Offer made and accepted on the house we want 17/07
    Solicitors Instructed 17/07
    Meeting with mortgage advisor, all docs given 18/07
    Mortgage application submitted to Nationwide 19/07
    Documents picked up and filled in from Solicitor 19/07
    Documents and ID returned to Solcitor 20/07
    Valuation booked 20/07
    Solicitor composes draft contract & starts local searches 25/07
    Valuation carried out 26/07
    Solicitor gave us our fixtures and fittings form for purchase and requested marriage certificate 26/07
    My buyers valuation carried out 27/07
    Mortgage offer given 27/07

    Sarah

    Official MoneySavingExpert.com Insert:

    Hi all! For more help with your move read our guide:

    50+ House Buying Tips
    Last edited by MSE Andrea; 06-10-2017 at 11:50 AM.
    Sarah,

    Trying to move up the house ladder in 2018, running a business with 3 kids in tow & slowly going crazy!
    Member No43 - % Challenge
Page 138
    • JaneyLouWho
    • By JaneyLouWho 8th Feb 18, 6:12 PM
    • 152 Posts
    • 177 Thanks
    JaneyLouWho
    Ugh, liquoricet, how horrible! How did it get this far without the solicitors realising they didnt have the funds. Get it on the market quick and hopefully you will get a proper buyer in no time.
    • JaneyLouWho
    • By JaneyLouWho 8th Feb 18, 6:14 PM
    • 152 Posts
    • 177 Thanks
    JaneyLouWho
    I am currently ruminating on all the 1001 things that could mean we are scuppered in relation to our onward purchase - vendor might die, his ex might die, our mortgage offer might get withdrawn, his seller might change her mind, I might die - haha! Tell this is a normal level of catastrophising when you have just made yourself homeless?
    Last edited by JaneyLouWho; 08-02-2018 at 6:25 PM.
    • JoJo1978
    • By JoJo1978 8th Feb 18, 6:23 PM
    • 342 Posts
    • 423 Thanks
    JoJo1978
    JaneyLouwho, my DH said I was worst case scenario queen. But has since admitted 'you were proven right even up to completion day' lol. I say lol but it wasn't at the time.

    We did the same as you, exchanged on the sale with no certainty of upward chain. It came good in the end but only because our vendors found somewhere to stay. Sadly the initially lost their purchase but I can happily report they've now exchanged on another and complete soon, 10 weeks behind us.

    Hang in there everyone.
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
    • Tiglath
    • By Tiglath 8th Feb 18, 6:27 PM
    • 3,555 Posts
    • 11,584 Thanks
    Tiglath
    More drama. Our buyer's solicitor suddenly popped up today asking us to provide evidence that next door's renovation was covered by building regs certification. WTF?! Fortunately I have contact with next door's owner who doesn't live there; she emailed over the certification instantly. What a star. That's the second time during this process that I've had to ask her for stuff, and she's so obliging.

    We're expecting to exchange tomorrow morning unless there's a plague of locusts or something, as apparently everyone's lined up and there are no outstanding queries anywhere as far as our estate agent and solicitor know. Then 29 days to completion, but at least everyone will be locked in, and we can relax a bit. This may be famous last words ...
    Looking forward to a move to the country!
    • Amanda_Cm
    • By Amanda_Cm 8th Feb 18, 7:03 PM
    • 166 Posts
    • 200 Thanks
    Amanda_Cm
    Thank you for the advice, phoebe, jojo. I will wait few more weeks and I will call for viewings the same EA. We are first ime buyers and using their Mortgage adviser. They will get some money from our lender if the money is relased.

    JaneyLouWho, I feel the same way. Was imagining what if the seller die and we can exchange or if the solicitor is getting divorced. Who knows.
    Tiglath building regulation for next door? Wow. Such a luck you got it so quick. Something like that can slow down everyone with weeks.
    Liquoricet. They may be the only muslim refusing to get mortgage/loan. Never heard about that. How can you claim you are cash buyer and be 15k short? It sounds like they want to buy your property cheeeaapppppp.
    • Vampyr
    • By Vampyr 8th Feb 18, 8:19 PM
    • 57 Posts
    • 98 Thanks
    Vampyr
    Gutted. Our cash buyers are 15k short. They suggested we loan them the amount but we no longer trust them to find the money. They claim they'll have it in a month or two. As they're Muslim they don't want to get a mortgage.
    Originally posted by liquoricet
    There are islamic banks that do islamic mortgages and islamic loans, (don't know what these are exactly...to me they seem like normal loans and mortgages in everything but name), so why can't they just use these to get the extra 15k? How exactly is borrowing it from you meant to work if they are not allowed regular loans? As someone else said, seems like they are trying to gazunder. You don't suddenly work out that you're missing 15k!
    • phoebe1989seb
    • By phoebe1989seb 8th Feb 18, 8:20 PM
    • 3,238 Posts
    • 6,640 Thanks
    phoebe1989seb
    Liquoricet, oh no - that's awful! So sorry for you......{{{hugs}}} Some people are just utter barstewards

    BlueTwiglet, that's a PITA too - hope you gettng the D of C expedited will be he final hurdle and you can exchange ASAP!

    JaneyLou, congrats on exchanging on your sale Hope you're not going to have to be in storage - well, your stuff, not you, lol - for too long! Ours is 600 for 3 months for one unit, but we had to get a second one as I said earlier (we just have tooooo much stuff ), but I think main reason it's that high is because we've got 10k of insurance

    Tiglath, hope the plague of locusts fails to materialise and you exchange as planned tomorrow!
    Paid off mortgage early - mortgage-free for ten years!

    Over 40,000 mis-sold PPI reclaimed
    • liquoricet
    • By liquoricet 8th Feb 18, 8:27 PM
    • 50 Posts
    • 102 Thanks
    liquoricet
    They may be trying to gazunder us but we will walk away. Our neighbours had to sell their house in Pakistan so there's no blame on anyone except us for believing them. It didn't even go on the market, it was a private sale with no estate agent.
    They "seem" to believe they'll have the money in a couple of months but we no longer trust them. If they want the house we'll require the full amount and want to exchange with an open completion date if they prove they've the money.

    I think you're correct about mortgages. That's another option for them I guess!

    Hope it goes well for other exchangers. I'll be lurking for a while.
    Last edited by liquoricet; 08-02-2018 at 8:31 PM.
    • Vampyr
    • By Vampyr 8th Feb 18, 8:45 PM
    • 57 Posts
    • 98 Thanks
    Vampyr
    They "seem" to believe they'll have the money in a couple of months but we no longer trust them. If they want the house we'll require the full amount and want to exchange with an open completion date if they prove they've the money.
    Originally posted by liquoricet
    Why do you want an open completion date? Seems like an unnecessary risk to me, unless there is a good reason for having it.
    • JaneyLouWho
    • By JaneyLouWho 9th Feb 18, 5:42 AM
    • 152 Posts
    • 177 Thanks
    JaneyLouWho
    Well, we wont be exchanging on the purchase yet - the top of the chain is still not ready, and my sellers seller is away on the 16th (would be nice if they would say how long for!). No one has said what the top of the chain is actually waiting for now. Frustrating. I Have made it clear that I want to exchange next week - I just cannot fathom what is taking so long!
    Last edited by JaneyLouWho; 09-02-2018 at 10:20 AM.
    • vicki2221
    • By vicki2221 9th Feb 18, 9:44 AM
    • 59 Posts
    • 276 Thanks
    vicki2221
    We accepted an asking price offer yesterday. It was back on the market for 6 days and we had two couple offering in that time. However, immediately after accepting the offer our EA took it off the market. I didn't ask them to do that and there no condition of sale from the buyers to do that so I have told him this morning to put it back on. I'd like to see some progress or commitment before it gets taken down.

    Happy Friday everyone.
    • JaneyLouWho
    • By JaneyLouWho 9th Feb 18, 10:21 AM
    • 152 Posts
    • 177 Thanks
    JaneyLouWho
    Congrats Vicki!!
    • phoebe1989seb
    • By phoebe1989seb 9th Feb 18, 12:08 PM
    • 3,238 Posts
    • 6,640 Thanks
    phoebe1989seb
    Fab news Vicki

    I'm definitely going to have to eat my words re: our solicitor - important paperwork that we need to sign and rturn before exchange on ourvpurchase can happen (Monday) was being sent special delivery by him yesterday so we'd get it today before leaving our temporary place of residence. DH met the postman who said we'd have to drive to the pick up office to collect as he'd not added the correct postage value

    Fingers crossed for everyone hoping (still ) to exchange today!
    Last edited by phoebe1989seb; 09-02-2018 at 12:45 PM.
    Paid off mortgage early - mortgage-free for ten years!

    Over 40,000 mis-sold PPI reclaimed
    • Astrac
    • By Astrac 9th Feb 18, 12:12 PM
    • 12 Posts
    • 20 Thanks
    Astrac
    On Wednesday evening I sent an email to the EA and to my solicitors saying that I decided that I was considering walking away from the purchase because of this unexplained holdup. On Thursday morning, what a coincidence, the leasehold management pack arrived and was sent to my solicitors.

    Still no answer on why this has been requested by the seller only after 2 and a half month since my offer was accepted and one month after my solicitors first asked for it. That really makes me angry and uncomfortable so I made it clear to the EA that, given this lack of explanations, I will adopt from now on a no-tolerance policy in terms of unexplained delays and I will walk away if there is any other delay on the seller side for which I am refused an explanation.

    The EA said that she is sorry and she will follow the process closely from now on so that this sort of thing won't happen again. I hope that this is true, I feel like the stress of this thing is killing me :/
    Last edited by Astrac; 09-02-2018 at 12:15 PM.
    • JoJo1978
    • By JoJo1978 9th Feb 18, 12:22 PM
    • 342 Posts
    • 423 Thanks
    JoJo1978
    Trying to look on the positive, astrac, whatever tone your Wednesday email had seems to have done the trick. It also sounds like you've got vendors' EA onside, who perhaps can see their commission slipping out of reach.

    Accept that it's true for now and only worry about another problem only if it happens. Easy for me to say, and I was awful at following that advice myself to the extent I made myself poorly for a while.

    It's Friday now, take the small victory and do something totally unrelated to house stuff this weekend.
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
    • FloppyDisk
    • By FloppyDisk 9th Feb 18, 1:40 PM
    • 616 Posts
    • 4,194 Thanks
    FloppyDisk
    Astrac - I think your example is exactly why it is worth chasing the instant something doesn't happen rather than waiting weeks just so you don't appear impatient. You're spending hundreds of thousands on a house that someone can't be bothered making a phone call to progress.

    Mortgage- 415,749
    BTL- 162,915

    • Vampyr
    • By Vampyr 9th Feb 18, 4:09 PM
    • 57 Posts
    • 98 Thanks
    Vampyr
    On the topic of chasing up people, apparently my chain is ready to exchange with completion dates agreed, but one of the solicitors has gone absent and hasn't been contactable for 2 days.

    We need to put a tracking chip on these solicitors!
    • Tiglath
    • By Tiglath 9th Feb 18, 7:01 PM
    • 3,555 Posts
    • 11,584 Thanks
    Tiglath
    Guess what - we didn't exchange. Buyer's solicitor emailed late Thursday night with queries. We gave answers via our solicitor who couldn't believe he'd left it that late. The buyer knew nothing about the queries and was happy to exchange today, but the only person authorised to release his deposit funds wasn't in the office today (apparently senior solicitors play golf on Fridays). That's the short version, without swearwords. Hoping to exchange Monday now. I'm almost beyond caring.
    Looking forward to a move to the country!
    • liquoricet
    • By liquoricet 10th Feb 18, 11:00 AM
    • 50 Posts
    • 102 Thanks
    liquoricet
    Great news Vicki! You!!!8217;re giving me hope.
    Any word Phoebe?
    Sorry Tiglath it is so frustrating.

    Well it all kicked off yesterday! We told our solicitors our buyer didn!!!8217;t have the money and to tell the buyer we would not lend them anything. Then our solicitors informed the chain. Then the vendors!!!8217; EA sprang into action. She got our buyers phone number and had a !!!8220;word!!!8221; (this woman is terrifying and I have been the victim of several conversations due to our buyer being slow so I!!!8217;d love to have heard it!)

    We agreed we!!!8217;d put our house on the market straight away if they didn!!!8217;t sort something out. We now have a for sale sign outside our house.

    In the meantime, our buyers have somehow found the money, signed the contracts and we are allegedly exchanging Monday with a completion date just under a fortnight later. I!!!8217;ll believe it when we exchange but it looks massively more positive.

    Fingers crossed Monday but seems they were trying it on.
    • Vampyr
    • By Vampyr 10th Feb 18, 12:55 PM
    • 57 Posts
    • 98 Thanks
    Vampyr
    We agreed we!!!8217;d put our house on the market straight away if they didn!!!8217;t sort something out. We now have a for sale sign outside our house.

    In the meantime, our buyers have somehow found the money, signed the contracts and we are allegedly exchanging Monday with a completion date just under a fortnight later. I!!!8217;ll believe it when we exchange but it looks massively more positive.
    Originally posted by liquoricet
    Funny that eh!? Your buyers sounded like chancers...I'm glad things seem to be progressing for you now!
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