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  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,515Posts
    • 9,225Thanks
    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 190
    • Chanlf91
    • By Chanlf91 9th Jul 18, 1:41 PM
    • 38 Posts
    • 12 Thanks
    Chanlf91
    Not getting our hopes up as we haven't exchanged yet, but completion still set for the 13th. Solicitors called this morning to say they've requested mortgage funds. Panic mode setting in so I'm trying to occupy myself by scrubbing this house clean. 1 less job to do when we move!
    • jennhg88
    • By jennhg88 9th Jul 18, 2:36 PM
    • 176 Posts
    • 142 Thanks
    jennhg88
    Solicitors: "Not much to do now, will be back in touch when ready to exchange on sale and purchase"

    Estate agent: "Well things are moving, but bottom of the chain is waiting on local search and to raise enquiries, and your buyer's solicitor is still waiting on the management pack from your solicitor...."

    So the management pack we paid 192 for and immediately sent on to our buyer's solicitor (via email) on the 3rd July hasn't been received yet? Hmmmmmm
    • BladeY
    • By BladeY 9th Jul 18, 6:44 PM
    • 16 Posts
    • 8 Thanks
    BladeY
    6th June - Full application made with Nationwide
    7th June - Valuation booked for 14th of June
    14th June - Valuation took place
    18th June - Valuation accepted
    20th June - requested bank statements
    20th June - Instructed a solicitor
    26th June - Mortage offer issued.
    29th June - Solicitor receives the draft contract, Searches begins
    9th July - Still waiting for Searches. Solicitor said should be 13th at the latest.

    Vender and I really want to move the start of next month.. Just can't see it happing... Can anyone tell me how far we are away?
    • TamsinC
    • By TamsinC 10th Jul 18, 1:58 PM
    • 490 Posts
    • 597 Thanks
    TamsinC
    Ug - I despair - vendors want to complete at the end of the month (fine by us) but don't want us to have a 3rd look around. They are too busy, too stressed (extenuating circumstances), etc so cant let us view again - we have said we only want to look at a coupe of very specific things. If they are that busy/stressed how are they going to pack up the house and move? And I'm not sure I'm happy to agree to exchange etc without that 3rd visit. Survey report STILL isn't in either after 2 weeks and so that might raise some issues and so need it asap. Getting very despondent that this one is going to fall by the wayside too. I never want to buy again.
    • grayfox
    • By grayfox 10th Jul 18, 4:53 PM
    • 15 Posts
    • 5 Thanks
    grayfox
    6th June - Full application made with Nationwide
    7th June - Valuation booked for 14th of June
    14th June - Valuation took place
    18th June - Valuation accepted
    20th June - requested bank statements
    20th June - Instructed a solicitor
    26th June - Mortage offer issued.
    29th June - Solicitor receives the draft contract, Searches begins
    9th July - Still waiting for Searches. Solicitor said should be 13th at the latest.

    Vender and I really want to move the start of next month.. Just can't see it happing... Can anyone tell me how far we are away?

    My searches took a week to come back and had a home byers report done at the same time and that took a couple of days. Once your searches are done the next bit would be to raise any enquires, the enquires can take up to a couple of weeks maybe longer depending what info your solicitor has requested. So I'd say you're about 70% there, when the enquires are responded to and are satisfactory you'll be in a good position to exchange.
    • TamsinC
    • By TamsinC 11th Jul 18, 4:19 PM
    • 490 Posts
    • 597 Thanks
    TamsinC
    Finally - the survey report is through - nothing major on it at all, so that is good - just a few bog standard queries about certificates and building regs etc - so fired those questions off to the solicitors. Hubby is happy with not visiting again before exchange if needs be so we 'might' be looking at the end of the month - maybe. Though if they cant fit us in for 1 hour I'm not sure how they will find the time to pack up a large house. So just waiting for those replies and the council searches back.

    Time Scale so far . . . updates in bold
    House on market - 10/1/18
    Offer received and accepted on our house 17/1/18
    Offer made and accepted on house 1 20/1/18
    Various stuff happened
    Exchanged on the house sale 27/2/18
    Completion on house sale 2/3/18
    Various stuff happened
    Pulled out of the purchase of house 1 27/4/18
    Offer accepted on house 2 19/5/18
    Broker instructed as complicated case, solicitors instructed 21/5/18
    EA sees proof of funds and ID check 22/5/18
    Mortgage DIP received 25/5/18
    Solicitors bungle - had a sol, didn't have a sol, have a new sol, something to do with panels for lenders 30/5/18
    Sends hubbies official pension statement to mortgage broker as requested, along with all other documents 1/6/18
    mortgage applied for 4/6/18
    Broker emails - lender won't accept a word of mouth pension statement, so resend statement 6/6/18
    Mortgage valuation done - 8/6/18
    Visit house again - still love it - itching to get in - 17/6/18
    Draft contracts received by our sols and queries raised with sellers solicitors 21/6/18
    Lots of problems with the underwriter being stupid, finally mortgage approved 21/6/18
    Broker puts in complaint with lender over handling of our case 21/6/18 (the 21st was a busy day)
    Historical Buildings Survey undertaken 26/6/18
    Basic searches back - 2/7/18
    Signed mortgage documents - 9/7/18
    Survey results - a long wait but all good - 11/7/18
    • thelem
    • By thelem 13th Jul 18, 2:37 PM
    • 755 Posts
    • 552 Thanks
    thelem
    House went on the market in October, the chain (4 parties, we are second from bottom) was ready to exchange two weeks ago but last minute things kept coming up to delay things.


    Solicitor contacted me two hours ago to say the buyers are ready to exchange and confirm that we still wanted to, but not heard anything since. The tension is worse than the X-factor final "and the winner is..." bit. I'm sure Dermot never held that pause for hours!
    Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.
    • TamsinC
    • By TamsinC 13th Jul 18, 2:52 PM
    • 490 Posts
    • 597 Thanks
    TamsinC
    House went on the market in October, the chain (4 parties, we are second from bottom) was ready to exchange two weeks ago but last minute things kept coming up to delay things.


    Solicitor contacted me two hours ago to say the buyers are ready to exchange and confirm that we still wanted to, but not heard anything since. The tension is worse than the X-factor final "and the winner is..." bit. I'm sure Dermot never held that pause for hours!
    Originally posted by thelem
    fingers crossed for you
    • cheeky-peach
    • By cheeky-peach 13th Jul 18, 3:46 PM
    • 44 Posts
    • 35 Thanks
    cheeky-peach
    Eagerly hoping for our formal mortgage offer very soon! After lots of faff with paperwork and waiting for a Forces Help to Buy PIN to come through, the Mortgage Lender now say they have everything they need... that's pretty much all we are waiting on before being able to exchange. COME ON!
    • thelem
    • By thelem 13th Jul 18, 4:25 PM
    • 755 Posts
    • 552 Thanks
    thelem
    Well it's not happened today. The solicitor at the top of the chain went AWOL and our vendor have complained that we're not paying a large enough deposit. We can pay more, but it takes time to move the money between accounts. Surely size of deposit is the sort of thing the solicitors should have been discussing as soon as they knew exchange was imminent?



    Fingers crossed for Monday.
    Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.
    • Chanlf91
    • By Chanlf91 13th Jul 18, 5:53 PM
    • 38 Posts
    • 12 Thanks
    Chanlf91
    We've complete!

    A quick timeline

    21/4/18 viewed property, offer accepted.
    24/4/18 mortgage application went in
    29/5/18 mortgage offer accepted
    11/7/18 exchanged contracts
    13/7/18 completed!

    We also got a lovely card and flowers from the vendor with bin collection dates.

    Not moving in until next week as we're going to decorate it first.

    Can finally relax a bit now! good luck to all still waiting to exchange/complete.
    • Thrugelmir
    • By Thrugelmir 13th Jul 18, 6:30 PM
    • 59,781 Posts
    • 53,121 Thanks
    Thrugelmir
    Surely size of deposit is the sort of thing the solicitors should have been discussing as soon as they knew exchange was imminent?


    Originally posted by thelem
    Normally 10% of purchase price. This is set out in the contract.


    Did you discuss this with your solicitor at all.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • BladeY
    • By BladeY 13th Jul 18, 8:30 PM
    • 16 Posts
    • 8 Thanks
    BladeY
    Does anyone hate their solicitor? Hate might be a tad over the top but I thought I would go local and I'm not sure if I made the right choice.

    We paid the 300 and took all the forms back 5 weeks ago. Apparently only had draft contacts and started the Searches on the 29th

    I've only phoned them 3 times but it feels like they have a right attitude saying these things take time. I understand They take time but it takes 5 mins to speak to me in a tidy way and give me updates on the case over the phone.

    Phoned Friday and they said some of the searches are back maybe She will need to login to the portal. She will write to me when she's ready.
    Last edited by BladeY; 13-07-2018 at 8:34 PM.
    • KingMob
    • By KingMob 13th Jul 18, 8:43 PM
    • 52 Posts
    • 7 Thanks
    KingMob
    Does anyone hate their solicitor? Hate might be a tad over the top but I thought I would go local and I'm not sure if I made the right choice.

    We paid the 300 and took all the forms back 5 weeks ago. Apparently only had draft contacts and started the Searches on the 29th

    I've only phoned them 3 times but it feels like they have a right attitude saying these things take time. I understand They take time but it takes 5 mins to speak to me in a tidy way and give me updates on the case over the phone.

    Phoned Friday and they said some of the searches are back maybe She will need to login to the portal. She will write to me when she's ready.
    Originally posted by BladeY
    Can I join that club. Instructed mine on 4th June, FTB/no chain, online tracking is a joke. Mortgage offer 2 weeks ago, enquiries to vendors solicitor sent 20th June but no idea about responses. "report pack" mentions voluntary purchase of ground rent (NI based) when I said I was interested in that, response was "Why?" and that they don't usually do that. No idea of when exchange or completion might occur.
    • BladeY
    • By BladeY 13th Jul 18, 9:10 PM
    • 16 Posts
    • 8 Thanks
    BladeY
    Can I join that club. Instructed mine on 4th June, FTB/no chain, online tracking is a joke. Mortgage offer 2 weeks ago, enquiries to vendors solicitor sent 20th June but no idea about responses. "report pack" mentions voluntary purchase of ground rent (NI based) when I said I was interested in that, response was "Why?" and that they don't usually do that. No idea of when exchange or completion might occur.
    Originally posted by KingMob
    Also had the mortgage offer just over 2 weeks ago. Also FTB no chain as such we're renting but have to give a months notice. seller is moving in with parents until new house is built.

    Every week just seems another wasted at the moment.
    • Magnus91
    • By Magnus91 14th Jul 18, 12:03 AM
    • 32 Posts
    • 15 Thanks
    Magnus91
    Can I join that club. Instructed mine on 4th June, FTB/no chain, online tracking is a joke. Mortgage offer 2 weeks ago, enquiries to vendors solicitor sent 20th June but no idea about responses. "report pack" mentions voluntary purchase of ground rent (NI based) when I said I was interested in that, response was "Why?" and that they don't usually do that. No idea of when exchange or completion might occur.
    Originally posted by KingMob
    I'll also join that club. And my solicitor seems to constantly be away, and when she is in she doesn't reply to emails.
    • KingMob
    • By KingMob 14th Jul 18, 6:26 AM
    • 52 Posts
    • 7 Thanks
    KingMob
    Also had the mortgage offer just over 2 weeks ago. Also FTB no chain as such we're renting but have to give a months notice. seller is moving in with parents until new house is built.

    Every week just seems another wasted at the moment.
    Originally posted by BladeY
    Same here, agreement up at end of July but can't hand notice in for end of August as no idea of potential dates. Believe vendor is due to move soon, mortgage advisor surprised me by telling me they'd sort everything out then once got my offer told me to make a date up and that they hadn't done anything. Hoping to make some progress next week.

    Really frustrating that my solicitors online tracking system seems to just be a place for them to dump their notes which are no use to me, a progress bar which randomly jumped from 20% to 60% and then 80% and to top it off the systems seems to only update at midnight, so is a days lag on updates. Been chasing things on Fridays and the usual response is we've missed the post, which means it's Tuesday before I receive whatever and Thur-Fri before they acknowledge return.
    • LittleLu33
    • By LittleLu33 17th Jul 18, 8:37 AM
    • 22 Posts
    • 16 Thanks
    LittleLu33
    Just heard that searches are back (except local which is being chased - I have a feeling it may hold things up. It's been a couple of weeks already.)

    Some enquiries are being raised based on received searches. Fingers crossed for those to come back swiftly from vendors side, and I'm praying local searches come back soon too.

    I would love to be in a position where we are able to discuss exchange and completion dates before vendors go on 2 week holiday so that we all know where we stand when they return. Maybe wishful thinking. I'll keep hoping things come good in the end. Wish us luck!

    Best of luck to all those exchanging this month - wishing you all well too!
    • cheeky-peach
    • By cheeky-peach 17th Jul 18, 9:09 AM
    • 44 Posts
    • 35 Thanks
    cheeky-peach
    My frustration lies with the mortgage lender... everytime I call for an update we are told a different story and a different date to expect a decision by. Wahhh!
    • Jtotz67
    • By Jtotz67 17th Jul 18, 1:17 PM
    • 32 Posts
    • 16 Thanks
    Jtotz67
    Its such a frustrating time and wait but its amazing how these things come together suddenly. If you had asked me the day before we exchanged whether we were ready to exchange I would have said no! Then it all suddenly came together! Moving in next week!


    Hang on in there!

    We found out today that our vendor lost her onward purchase and went ahead with our purchase anyway and is moving out so we can get in. I feel so sorry for her so we sent her a big bunch of sunflowers today which hopefully she will get tomorrow and make her smile!
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