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Waiting to Exchange - Part 2, the wait goes on!

438 replies

TokyoSushi · 04/09/2018 15:48

Hello! New thread, I don't think there's another one yet... shall we all give a quick update regarding where we're up to?

We:

  • Went on market 12th June
  • Sold for full asking 6th July too good to be true
  • Had an offer accepted on DH dream home, (I didn't really like it but only suitable thing on the market)
  • Our buyer pulled out 6th August
  • DH dream home owner wouldn't wait and put straight back on market
  • We went back on market on 7th August, reduced by £5K
  • 4 viewings and 4 offers in next few days
  • Offer accepted on 13th august
  • Found both of our actual dream home and had offer accepted on 14th August
  • Our buyer seems as firm as they can be
  • Mortgage offer approved and searches commissioned on new house
  • Our buyers seem very, very keen but I have a slight suspicion about how firm their buyer is
  • Everybody hoping to move by half term

And so we wait....

OP posts:
LIVIA999 · 11/09/2018 14:03

@bigsighall I can't believe it's been that long!!

bigsighall · 11/09/2018 16:07

Yup it’s been a true test of my stress levels!

flugelhorn81 · 11/09/2018 19:36

Gosh @bigsighall you're putting me to shame - you must have endless patience. How stressful for you.

RangerLady · 11/09/2018 20:15

@bigsighall 18 months?!!!! I'm dying to know what's so special about the house that you've put up with waiting so long!

GoldTag · 12/09/2018 09:41

@bigsighall wow I do admire your patience! Really puts my impatient bad mood to perspective. Wishing you luck!

I finally got enquiries through from the buyer's solicitor yesterday, and unsurprisingly they're a mess. Three are for things they were already sent in June, and another couple are just ridiculous questions that anyone with half a brain could work out for themselves. But at least progress is progress I suppose...

bigsighall · 12/09/2018 09:46

Tbf it is a doer upper so that’s why we’re waiting (rare to find that round here) but OMG it’s been a long process! Hardly anything left to do now so I guess we could hear back any day soon???

@goldtag progress is good! Fingers crossed! So painful tho!

themadhatterswench · 12/09/2018 12:31

Can I join?

We are buying from a developer and hope to complete October/November when the house is due to be finished. Meant to be doing a part exchange with said developer and went up for sale Thursday, developer accepted an offer Friday and apparently missives have been posted to our solicitor yesterday so hopefully hear soon about an exchange date as we'd agreed most things beforehand with them and as we're in Scotland the Home report is already done.

Starting to feel I'm being hopelessly optimistic reading after reading the last few posts! Wine to those who need it!

JustLurk1ng · 12/09/2018 13:32

In a new twist... it turns out our delay in exchange and completion was 100% due to the FTB solicitor - who decided to raise additional enquiries when it got to exchange 😡😡!!! Raaaah!!!

JustLurk1ng · 12/09/2018 13:33

@bigsighall wow 18 months! You must have the patience of a saint

JustLurk1ng · 12/09/2018 15:15

Scratch the previous... major hold up and misinformation. I feel like crying now

GoldTag · 12/09/2018 15:46

Oh how frustrating @JustLurk1ng ! Hopefully it can get sorted quickly if everything else is falling into place. Fingers crossed for you Flowers

BumblebeeBum · 12/09/2018 17:45

My solicitor seems on the ball (unlike my mortgage adviser) and has been in touch every day this week. They expect exchange in the ‘next few weeks’. Fingers crossed for us and everyone.

TokyoSushi · 12/09/2018 17:57

All a bit rubbish here too, in a nutshell, we've done basically everything and are virtually ready to buy, the people buying ours have done basically nothing and are nowhere near.

Fortunately our EA and solicitor are good and everybody is continually chasing.

Just drove past our beautiful new home and they've taken the sold sign down. Nothing to suggest all is not well but it made me feel a bit sick all the same. Sad

OP posts:
JustLurk1ng · 12/09/2018 18:32

@TokyoSushi - are you in our chain? 😂😭 I'm there with you. Fingers crossed for buyers to get their act together and get a move on. Short of threatening to pull out (which I don't want to do) - don't know how to speed things along really 😳

Hirani85 · 13/09/2018 10:03

I'm getting fed up, I asked the solicitor why were releasing contracts if we aren't in a chain. As far as I know we haven't exchanged yet and I don't why. No response for 2 days now. Completion is meant to be September 28 and we're renting so in limbo.

TeamRocket · 13/09/2018 19:43

Another day has passed by without exchange, god knows what can possibly left to be enquirer about?? We have moved out of the house today so the sooner we can exchange (and complete) the better! Luckily moving day went quite smoothly which is a positive!

@TokyoSushi, @JustLurk1ng have you had any luck today?

TeamRocket · 13/09/2018 19:43

*enquire. Bloody phone!

JustLurk1ng · 13/09/2018 20:14

@TeamRocket - not even close as it turns out. Bottom of the chain not at all ready. 😢

TokyoSushi · 13/09/2018 20:52

No news here, just some bits fro the solicitor confirming the mortgage but otherwise nothing 🙄

OP posts:
Mynamesjohnnyutah · 13/09/2018 20:53

Hello all, may I join you? I finally have to admit to myself that I belong on this thread.

Offer accepted in April and have been waiting to exchange ‘next week’ since mid July. If anything it’s just getting further and further away! It’s currently less than two weeks until our mythical completion date and I can’t book movers or sort anything. I’m really starting to stress now.

Someone hold me!

katzensocken · 13/09/2018 21:01

Hello everyone, I was on the previous thread... I think I last posted in May!

This is because, we have been through two attempted house purchases before now. Here is the story: first house, offer accepted late Jan. Generally slow. Vendors weren't very motivated to find a house. By sixteen weeks we were close to our mortgage offer expiry and asked them to go into rented (which they had promised the whole time, of course). They said no. We were already looking at other properties by then, put an offer on one which was accepted. So we pulled out of the first house officially and made initial steps on the second. Unfortunately this one didn't pan out either - even the initial valuation survey for mortgage showed structural issues, and there was already other work to be done. We were at top of budget so had to withdraw (about a week into the process, vendor had not instructed solicitors at that stage).

So, third house. We had already seen it on previous viewing and it came back on the market as a developer had recently pulled out. We had liked the house, initially made a tentative offer but there was an open house and some competition at the time. We put in another email offer straight away. The vendor had been considering another open house but they had an onward purchase in mind, after some price negotiation we had offer accepted and it was taken off market.

A lot of stress along the way - top of chain buying a property which apparently had probate granted, only it wasn't granted yet... everything going well, except a little bit slow in places. Again though our mortgage offer was due to expire end September. We had made our position clear and luckily, everyone wanted to strive to meet the deadline. Had a curveball last week when we found out the probate property also was unregistered adding three months to the process. Blessedly top of chain volunteered to arrange a rental for themselves. We all exchanged today and hope to complete on Monday. We are moving in on Tuesday (currently in rented as FTB, we are handing in month's notice this weekend - forfeiting a month's rent but that has been the least of our worries). Booked removal van. After EIGHT MONTHS of extreme stress it doesn't feel quite real. I'm not quite sure what to do with myself, other than finish packing when I get more boxes (we had packed most things and halted for a while).

Best thing is that my mother has been looking after our two lovely cats since April (!) and I really miss them... can't wait to be reunited in a couple of weeks. And this house is better than the others, sits comfortably in between both budget wise, has a tiny courtyard to sit outside, a large attic room for my studio, just suits us more all round. I've had a nice feeling when I've been in.

Sorry to crash onto the thread with this when so many others are having problems! But I guess it really can happen eventually! Best wishes to everyone, I feel like my head might explode from the sheer emotional rollercoaster. Maybe I shouldn't hold my breath until we're actually in!

TokyoSushi · 13/09/2018 21:23

Oh yes, you've found you're people Mynamesjonnyutah

OP posts:
Iscreamforbenandjerrys · 13/09/2018 21:46

I always wonder if any of my clients are on this thread.

I know it's frustrating but lots of the legal delays are for bloody good reasons. Either that or someone in the chain has gone uber cheap with the conveyancing.

Iscreamforbenandjerrys · 13/09/2018 21:51

If you have any questions about the process I am happy to help Halo

BumblebeeBum · 14/09/2018 07:40

Icecream - do you have any experience of shared ownership? I’m buying a shared ownership house. We have the mortgage offer and ‘most’ of the queries sorted and it’s now been passed to the shared ownership company. I’ve passed their initial eligibility and affordability checks at the beginning. What are they doing now and is there a chance they could stop the whole process and say no? I’ve asked this question of the shared ownership company and my solicitor and neither gave me a straight answer. Thanks!

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