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  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,527Posts
    • 9,230Thanks
    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 Former 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 230
    • Bossypants
    • By Bossypants 11th Jan 19, 8:35 PM
    • 850 Posts
    • 1,667 Thanks
    Bossypants
    Congrats ancilla and babyblade, and welcome mick and Chimpy! Pull up a chair and make yourselves at home.

    I've been frustrated with my buyers' seeming inability to get their solicitor fully instructed this week, but the agent is assuring me that they are solid buyers. We'll see, I suppose. I think this thread has made me paranoid, but they honestly seem a little bit too good to be true on paper to me, so the solicitor thing is making me more antsy than it probably should at this stage. On the plus side, their mortgage broker has been in touch to confirm that valuation will be booked within 48 hours, so at least there's that. One more thing to worry about I suppose!

    No real news on purchase this week, but I didn't expect any. We're in that quiet phase of solicitors (hopefully!) beavering away behind the scenes while the rest of us wait. Trying not to let the anxiety take hold too hard for the moment, there's still a long way to go!
    • babyblade41
    • By babyblade41 12th Jan 19, 9:18 AM
    • 443 Posts
    • 431 Thanks
    babyblade41
    Congrats ancilla and babyblade, and welcome mick and Chimpy! Pull up a chair and make yourselves at home.

    I've been frustrated with my buyers' seeming inability to get their solicitor fully instructed this week, but the agent is assuring me that they are solid buyers. We'll see, I suppose. I think this thread has made me paranoid, but they honestly seem a little bit too good to be true on paper to me, so the solicitor thing is making me more antsy than it probably should at this stage. On the plus side, their mortgage broker has been in touch to confirm that valuation will be booked within 48 hours, so at least there's that. One more thing to worry about I suppose!

    No real news on purchase this week, but I didn't expect any. We're in that quiet phase of solicitors (hopefully!) beavering away behind the scenes while the rest of us wait. Trying not to let the anxiety take hold too hard for the moment, there's still a long way to go!
    Originally posted by Bossypants

    It really is stressful, I think for me this has been the most due to it being an emotional move after being away from home and the problems along the way which weren't solvable easily

    I really do think it's time to revise the way we buy and sell in England and Wales as it's the same as it was decades ago

    I'll be keeping an eye on your process and sincerely hope exchange happens soon
    • mooma29
    • By mooma29 12th Jan 19, 10:13 AM
    • 50 Posts
    • 31 Thanks
    mooma29
    Back in the game
    So I’m back on the waiting to exchange treadmill. Our on off buyer is back on after 6 long months of peeing about getting a mortgage. To be fair to him I suppose it was more down to the Halifax than him but his inexperience did not help! We put our house back up for sale after they said he couldn’t have a mortgage after all at the end of November, (original offer accepted 12 July) I have shown about 9 lots of viewers around since then, which wasn’t bad for the time of year. Anyway out of the blue original buyer asked if tsb could value house as they would given him a mortgage. We said yes but wouldn’t take of the market till mortgage offer seen in black and white. Which happened on Wednesday, valuation “passed”mortgage agreed solicitor instructed. All good. The only fly in my ointment is my onward purchase are humming and hawing about reacceptibg our offer with him as the buyer given the history. Can’t say I blame them but I guess there’ll be another house for us somewhere if not. DD1 looks like getting lodgers for a while if they turn us down as I am not delaying this sale anymore than it already has been !
    • Finchy2018
    • By Finchy2018 12th Jan 19, 5:40 PM
    • 236 Posts
    • 191 Thanks
    Finchy2018
    12 Dec - offer accepted
    17 Dec - Instructed solicitor
    2nd Jan - mortgage application submitted
    4th Jan - mortgage val
    7th Jan - mortgage offer recieved

    My solicitor has sent off for searches (how long do these take?) And sent some enquiries. I know the rest of the chain has signed contracts and are ready to go, I'm keen to get moved asap.
    • Chimpy9
    • By Chimpy9 12th Jan 19, 6:02 PM
    • 35 Posts
    • 11 Thanks
    Chimpy9
    Our searches were back within a few days but we're still waiting for the vendors solicitor to come back with enquiries on the contract and to provide a copy of the lease. We've also been held up with a further report required on a nearby disused mineshaft.

    If everything goes to plan and you've got good solicitors should only be a few weeks.
    • Finchy2018
    • By Finchy2018 12th Jan 19, 6:30 PM
    • 236 Posts
    • 191 Thanks
    Finchy2018
    Thanks, I certainly trust my solicitor, I have known her professionally for about 10 years and as a result my whole family use her for property sales and purchases now, so happy we are in good hands!

    Hopefully it doesn't take too long for you to get the leases and report.
    • Bossypants
    • By Bossypants 12th Jan 19, 6:50 PM
    • 850 Posts
    • 1,667 Thanks
    Bossypants
    It really is stressful, I think for me this has been the most due to it being an emotional move after being away from home and the problems along the way which weren't solvable easily

    I really do think it's time to revise the way we buy and sell in England and Wales as it's the same as it was decades ago

    I'll be keeping an eye on your process and sincerely hope exchange happens soon
    Originally posted by babyblade41
    Thank you, I appreciate the moral support and you are absolutely right, it's awful. I've been venting to my friend in a different country about this and she is absolutely aghast at how anyone can pull out for any reason for generally at least two months after they both agree to participate in the transaction. It's amazing how we still accept this as the only way in this country, out of sheer habit I suppose.

    Still, people do seem to manage to get through it sometimes, so let's just hope for the best!
    • babyblade41
    • By babyblade41 12th Jan 19, 8:33 PM
    • 443 Posts
    • 431 Thanks
    babyblade41
    Thank you, I appreciate the moral support and you are absolutely right, it's awful. I've been venting to my friend in a different country about this and she is absolutely aghast at how anyone can pull out for any reason for generally at least two months after they both agree to participate in the transaction. It's amazing how we still accept this as the only way in this country, out of sheer habit I suppose.

    Still, people do seem to manage to get through it sometimes, so let's just hope for the best!
    Originally posted by Bossypants
    It beggars belief that the most expensive single purchase we ever make and it's left to chance and what if's pretty much

    My buyers pulled out half way through and there wasn't anything I could do as it was a due process with land registry. They were posturing but I could understand how they felt. We did try and find something else but what we need is very few and far between and nothing remotely came up

    The agents didn't release the whole truth , but they may not have been fully aware (?) and powers of attorney seemed nonchalant at best even though they decided to remove all of the garden from the sale to LR in the initial first registration . As hard as it that may sound we are not remotely connected emotionally to the seller.. never met any of those concerned so all the scenarios keep you awake at night

    No bargaining power as PA's wouldn't benefit at all from the sale , we were actually worried that the elderly person may succumb and then put the whole lot even further down the proverbial and back to square one

    It is a horrid situation for everyone involved, we knew we were committed to selling but we don';t know what the other parties think .

    Ours lasted 3 months which should have been done in at most 6 weeks, it is very distressing when you are all relying on hearsay .

    Fingers crossed for you and yours , will be waiting and watching to hopefully get good news for you all
    • Bossypants
    • By Bossypants 12th Jan 19, 10:02 PM
    • 850 Posts
    • 1,667 Thanks
    Bossypants
    It is a horrid situation for everyone involved, we knew we were committed to selling but we don';t know what the other parties think
    Originally posted by babyblade41
    This is exactly it. In my case, the EA swears up and down that the buyers are raring to go and it's just some practical/Christmas factors which have prevented them from fully instructing their solicitors. That's quite possibly true, but I have no way of knowing and so end up conjuring up all sorts of scenarios, like maybe they're stalling to see if something else comes up, or struggling to find the money, or having personal difficulties which might prevent them from moving after all, or or or. The mortgage valuation about to be booked does give me some small comfort, but now I have to worry about what it might find which wasn't picked up when I bought it 36 months ago, sigh.

    Mooma, glad you're back with us, hope it all goes well this time!
    • mick1111
    • By mick1111 12th Jan 19, 10:05 PM
    • 21 Posts
    • 15 Thanks
    mick1111
    12 Dec - offer accepted
    17 Dec - Instructed solicitor
    2nd Jan - mortgage application submitted
    4th Jan - mortgage val
    7th Jan - mortgage offer recieved

    My solicitor has sent off for searches (how long do these take?) And sent some enquiries. I know the rest of the chain has signed contracts and are ready to go, I'm keen to get moved asap.
    Originally posted by Finchy2018
    Our searches came through within a few days...
    • katherinegrey
    • By katherinegrey 12th Jan 19, 11:44 PM
    • 11 Posts
    • 33 Thanks
    katherinegrey
    Still waiting and feel it’ll never happen. Our buyer just keeps lying through her teeth. She first said she was ready to go and wasn’t in a chain, so we accepted her first offer for a quick sale, we explained we were buying a new build and estate agents told her same and she said she was ready to go with everything in place so this wasn’t an issue.

    Turns out she’s divorcing and waiting her husband to buy her out.

    I’m getting slightly frantic as builders have said after 25th Jan they’re putting our plot back up for sale, she assured estate agents she would receive her deposit either this week or next.

    Email from solicitor comes and she has no paperwork from ex, no idea when money will arrive and her ex appointed a solicitor who has now left the firm and needs to appoint a new one. All on the same day she assured estate agents it’s all in hand.

    Why put an offer in when you haven’t a deposit and have no idea when you’ll have one?! Shouldn’t be allowed. Estate agents assured us they’d seen proof of funds which can’t be true as we accepted her offer 20th of November and she still doesn’t have funds!

    This is beyond stressful, knowing I’m at risk of losing thousands and the house because of her. I’ve done my part, we really are packed and ready. And it might be for nothing.
    • Chimpy9
    • By Chimpy9 13th Jan 19, 7:19 AM
    • 35 Posts
    • 11 Thanks
    Chimpy9
    Still waiting and feel it’ll never happen. Our buyer just keeps lying through her teeth. She first said she was ready to go and wasn’t in a chain, so we accepted her first offer for a quick sale, we explained we were buying a new build and estate agents told her same and she said she was ready to go with everything in place so this wasn’t an issue.

    Turns out she’s divorcing and waiting her husband to buy her out.

    I’m getting slightly frantic as builders have said after 25th Jan they’re putting our plot back up for sale, she assured estate agents she would receive her deposit either this week or next.

    Email from solicitor comes and she has no paperwork from ex, no idea when money will arrive and her ex appointed a solicitor who has now left the firm and needs to appoint a new one. All on the same day she assured estate agents it’s all in hand.

    Why put an offer in when you haven’t a deposit and have no idea when you’ll have one?! Shouldn’t be allowed. Estate agents assured us they’d seen proof of funds which can’t be true as we accepted her offer 20th of November and she still doesn’t have funds!

    This is beyond stressful, knowing I’m at risk of losing thousands and the house because of her. I’ve done my part, we really are packed and ready. And it might be for nothing.
    Originally posted by katherinegrey
    Feel for you, I've found buyers hold all the power. My buyer went quiet and did some research online. I found out some stuff very different to what he'd told our agent but he has said he is proceeding as planned. We haven't had any contact with our buyer, only through the agent whereas we've met our seller and we know why they are moving.
    • rijack
    • By rijack 13th Jan 19, 11:50 AM
    • 30 Posts
    • 4 Thanks
    rijack
    FTB here:
    10/01/19 & 11/01/19: Discussions with mortgage broker on affordability, seems to come out ok

    12/01/19: New build home reserved as affordability came back ok & callback request sent to Solicitor


    Plan now:
    14/01: Progress the mortgage application & instruct solicitor


    It's going to be tight as we have just over 28 days to exhange. As a FTB i'm extremely nervous about the mortgage application! I think i need to place some trust in my broker! They've seen my credit file and my payslips and haven't pulled anything in particular out!
    • Elika0215
    • By Elika0215 13th Jan 19, 2:11 PM
    • 109 Posts
    • 39 Thanks
    Elika0215
    My situation is slightly different in that I'm one of four that have (equally) inherited a modest property that we agreed to sell. I'm not one of the joint executors from the will but thought I'd still have an equal say in the selling price, advertising and process.

    So cut a long story short, property went on the market in March 2018, offer accepted at the end of July 2018. All good. Told they were a FTB. Mid-August was told they were actually in a chain so there'd be a little delay. Searches, their mortgage offer etc all done by mid-Sept and told exchange expected by mid-late October. Then come the delays; Definitely by mid-November now. That didn't happen. Late November next *by the latest* - missed. Right, because of the hassle it will be exchanged on 7th Dec to complete 14th December. Oops, missed again. It'll have to be after the holidays - specifically exchange on Friday 11th Jan. Not heard a thing - nobody responding to emails/phone calls.

    1) I wanted the property to continue to be advertised on Purple Bricks but was told by the executor that it should be taken off as the property was under-offer.

    2) Also, we should advertise with Estate Agents and incorporate the fees in the asking price. Was told by the executors that as we'd paid up front, we shouldn't go down this route.

    3) After expressing concern following delays I was told that these things happen, not to worry and as the buyer has already paid for searches etc, then they are committed to the purchase. I pointed out that paying out say, £3k and then finding a property for £10k cheaper would be worth the loss for the buyer. Was told this won't happen.

    4) Again said we should put it on the market (after Dec deadline missed). Told to wait as the buyers were probably just waiting for the New Year.

    5) After the January deadline missed, called and emailed the executors......no response (they're always active and normally reply within minutes).

    Am I being overly pushy and concerned about this? Should we have continued to actively advertise the property? I've only sold a property once and it went smoothly throughout but maybe this is how things are now?
    • Oddsocks21
    • By Oddsocks21 13th Jan 19, 2:38 PM
    • 3 Posts
    • 0 Thanks
    Oddsocks21
    I thought I was impatient waiting for my mortgage offer, I'm now realising that was nothing... I'm a FTB.

    12/11 - house viewing - informed vendors were in a chain and I'd be closing it.
    13/11 - offer made and accepted
    17/11 - mortgage application meeting
    29/11 - mortgage offer accepted
    30/11 - solicitors instructed - assume all is going to plan
    21/12 - email saying no memo of sale has been received, but now everything closes for Christmas(!)
    2/1 - solicitors call saying they're chasing EA. EA calls and apologises. Explains vendors lost their initial house, refused to give solicitor details until they found somewhere else. Have now found somewhere with no chain for them, gave solicitors details just before christmas.
    3/1 - Memo of sale finally received along with solicitors forms.
    4/1 - return solicitors forms.
    11/1 - homebuyers report carried out (I changed my mind and decided to have one)

    My impression is that it all seems to quite simply be a waiting game, but it is a game that I don't feel particularly involved in either!
    • Bossypants
    • By Bossypants 13th Jan 19, 4:56 PM
    • 850 Posts
    • 1,667 Thanks
    Bossypants
    My situation is slightly different in that I'm one of four that have (equally) inherited a modest property that we agreed to sell. I'm not one of the joint executors from the will but thought I'd still have an equal say in the selling price, advertising and process.

    So cut a long story short, property went on the market in March 2018, offer accepted at the end of July 2018. All good. Told they were a FTB. Mid-August was told they were actually in a chain so there'd be a little delay. Searches, their mortgage offer etc all done by mid-Sept and told exchange expected by mid-late October. Then come the delays; Definitely by mid-November now. That didn't happen. Late November next *by the latest* - missed. Right, because of the hassle it will be exchanged on 7th Dec to complete 14th December. Oops, missed again. It'll have to be after the holidays - specifically exchange on Friday 11th Jan. Not heard a thing - nobody responding to emails/phone calls.

    1) I wanted the property to continue to be advertised on Purple Bricks but was told by the executor that it should be taken off as the property was under-offer.

    2) Also, we should advertise with Estate Agents and incorporate the fees in the asking price. Was told by the executors that as we'd paid up front, we shouldn't go down this route.

    3) After expressing concern following delays I was told that these things happen, not to worry and as the buyer has already paid for searches etc, then they are committed to the purchase. I pointed out that paying out say, £3k and then finding a property for £10k cheaper would be worth the loss for the buyer. Was told this won't happen.

    4) Again said we should put it on the market (after Dec deadline missed). Told to wait as the buyers were probably just waiting for the New Year.

    5) After the January deadline missed, called and emailed the executors......no response (they're always active and normally reply within minutes).

    Am I being overly pushy and concerned about this? Should we have continued to actively advertise the property? I've only sold a property once and it went smoothly throughout but maybe this is how things are now?
    Originally posted by Elika0215
    At over six months I would definitely be getting concerned, especially as you are not getting concrete reasons for the delay. Maybe tell the EA you will be remarketing unless exchange happens before the end of the month?
    • chunkytfg
    • By chunkytfg 13th Jan 19, 5:39 PM
    • 603 Posts
    • 663 Thanks
    chunkytfg
    At over six months I would definitely be getting concerned, especially as you are not getting concrete reasons for the delay. Maybe tell the EA you will be remarketing unless exchange happens before the end of the month?
    Originally posted by Bossypants
    Think the trouble with that is the fact they are only someone getting a share of the inheritance and not one of the executers! ultimately I'd think it was the executer who has the final say on how to deal with the sale and all the MSE member can do is wait and hope that the sale completes and then they get their share of the proceeds
    Those who risk nothing, Do nothing, achieve nothing, become nothing
    MFW #63 £0/£500
    • Bossypants
    • By Bossypants 13th Jan 19, 5:41 PM
    • 850 Posts
    • 1,667 Thanks
    Bossypants
    Think the trouble with that is the fact they are only someone getting a share of the inheritance and not one of the executers! ultimately I'd think it was the executer who has the final say on how to deal with the sale and all the MSE member can do is wait and hope that the sale completes and then they get their share of the proceeds
    Originally posted by chunkytfg
    You're right, but the poster was specifically asking if they were being overly pushy or concerned, so what I was getting at is that I don't think they are, and offering a possible strategy for the executors.

    Should have worded that more clearly, sorry!
    • Bossypants
    • By Bossypants 13th Jan 19, 5:43 PM
    • 850 Posts
    • 1,667 Thanks
    Bossypants
    Still waiting and feel it’ll never happen. Our buyer just keeps lying through her teeth. She first said she was ready to go and wasn’t in a chain, so we accepted her first offer for a quick sale, we explained we were buying a new build and estate agents told her same and she said she was ready to go with everything in place so this wasn’t an issue.

    Turns out she’s divorcing and waiting her husband to buy her out.

    I’m getting slightly frantic as builders have said after 25th Jan they’re putting our plot back up for sale, she assured estate agents she would receive her deposit either this week or next.

    Email from solicitor comes and she has no paperwork from ex, no idea when money will arrive and her ex appointed a solicitor who has now left the firm and needs to appoint a new one. All on the same day she assured estate agents it’s all in hand.

    Why put an offer in when you haven’t a deposit and have no idea when you’ll have one?! Shouldn’t be allowed. Estate agents assured us they’d seen proof of funds which can’t be true as we accepted her offer 20th of November and she still doesn’t have funds!

    This is beyond stressful, knowing I’m at risk of losing thousands and the house because of her. I’ve done my part, we really are packed and ready. And it might be for nothing.
    Originally posted by katherinegrey
    Oh that sounds horribly stressful, commiserations! I also don't understand what some people expect from outright lying. I have had a change of position since I had my offer accepted, but I've told the seller and it's unlikely to push our transaction back by much anyway. I hope she gets herself sorted soon so you can proceed!
    • WibblyGirly
    • By WibblyGirly 13th Jan 19, 9:48 PM
    • 439 Posts
    • 792 Thanks
    WibblyGirly
    FTB here:
    10/01/19 & 11/01/19: Discussions with mortgage broker on affordability, seems to come out ok

    12/01/19: New build home reserved as affordability came back ok & callback request sent to Solicitor


    Plan now:
    14/01: Progress the mortgage application & instruct solicitor


    It's going to be tight as we have just over 28 days to exhange. As a FTB i'm extremely nervous about the mortgage application! I think i need to place some trust in my broker! They've seen my credit file and my payslips and haven't pulled anything in particular out!
    Originally posted by rijack
    Once we got all our papers to our broker, the application/offer or mortgage only took 2 days! The valuation is booked for the 16th so has all been very quick for me!
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