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

[TokyoSushi]

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....

Good luck @TokyoSushi - we're still waiting for a final enquiry to come back from our vendors' property. It's been 10 days though with no update despite chasing and we're growing impatient - my partner is almost ready to pull out and quite frankly I'm feeling exasperated now.

Sounds good Tokyo. Everything crossed.

Hopefully one of the new properties is even better than these timewasters place RangerLady. You really deserve some better luck.

Hopefully it won't be too much longer flugel. Some enquiries do take a long time to come back unfortunately, particularly things from land registry.

Sorry to hear that @RangerLady - how disappointing! I'm a firm believer in things happening for a reason so fingers crossed one of your viewings is the perfect fit!

Wish there was something more to report here @JustLurk1ng - I rang my EA yesterday and the buyer's solicitor apparently has more enquiries to send through today. Hopefully they're the final ones as I can't face them drip feeding and dragging it out... the aim of completion next week just seems absolutely impossible right now

GoldTag I feel your pain. Thought we'd answered our final enquiries last week only to find out that they want to double check the leasehold so have requested a copy of the title deeds to another property in the street (ours are 'missing') and then they will probably want an indemnity. If they get it sorted by the end of the week we might be ok. It otherwise it will drag on.

So sorry rangerlady that's so shitty of them. Hopefully you like on of the other properties even more!

Buyers phoned estate agent moaning that nothing was happening and making noises about pulling out if it dragged on.... just for them to be informed that our solicitors are sat waiting for them to raise all enquiries, and they need to chase them up not moan at us!

@RangerLady that's terrible! They are going to really regret doing that I'm sure. Doesn't help you though

@TokyoSushi - sounds like progress!

@flugelhorn81 - I'm there with you. Have stopped updated Hubby because he either gets angry or depressed at the whole thing

The bottom of our chain is holding us all to ransom. I keep telling myself that what goes around comes around and hope someone tries it on with him when he moves! Currently clubbing together with the rest of the chain for some extra funds to keep it alive but who knows what will happen!

@GoldTag fingers crossed for you!

Joining this thread as a FTB, trying to buy for the second time...

Last summer:

• we had an offer accepted on a chain-free house in June 2017
• our LL gave us 3 months' notice in June so his daughter could live in our flat
• got a mortgage offer in July 2017
• we visited the house with a builder for a quote when our vendor was away, and her friend who was looking after the place mentioned her onward purchase her what now? - turns out she'd offered on a house so we were now in a chain of 4 and no-one had told us.
• we pulled out at the beginning of September when it became clear we weren't going to exchange and complete before our tenancy expired
• the builder at the top of the chain offered us £1K upon completion to stay in. We declined. He upped it to £3K which we accepted - it would cover furniture storage plus a week or two in a hotel between rental flat and new house.
• the following morning, the day before we were due to exchange, our vendor pulled out because she thought her onward purchase was too small, and that was the end of that.
• we very quickly booked some viewings for rentals and found a fab flat where we've been ever since.

This summer I'm hoping will tell a different story:

• offer accepted 23rd August, vendor is already ready to exchange with his onward purchase and wants to exchange with us by 19th Oct
• Homebuyers survey done 4th Sept, no major issues
• mortgage offer received 13th Sept
• all searches back 17th Sept, solicitor has raised a pile of enquiries - I'm hoping that they will all be answered quickly, given the vendor's keenness to buy his house.

@RelocationRelocation All sounds much more positive this time round, fingers crossed for you and a better behaved vendor!

Thanks @JustLurk1ng - just had more enquiries through and I could scream, they're asking for things they have had months to query, like asking for an up to date insurance certificate from the freeholder. Hmm well you already were sent one it's just taken you two months to bloody look at it!

Wishing you and the rest of your chain the best of luck in managing to keep it all together, and totally agree what goes around comes around! I am taking the same view for my buyer and his useless solicitors

Still stuck waiting here too due to unresolved enquiries further down the chain and extremely slow solicitors. Each week the target completion date seems to push back further

All enquiries resolved here, just waiting on a new mortgage offer as the last TWO have has the wrong number of years left on the lease. Hoping we’re now a step closer to exchange.

First post..Accepted offer in may. Supposedly cash buyer. They only arranged survey in beginning of August. Heard nothing afterwards. Queries finally raised and answered same day 2 weeks ago. I have an online portal and today seen its changed to buyers solicitor accepts answers and exchange can now be planned. Heard nothing from my solicitor who now appears to have gone awol...ahhh

FTB here! Only 3 people in the chain, we had a mortgage offer two weeks ago (the only ones I'm the chain who needed a mortgage) but are still waiting for searches to come back :( we can't complete or exchange until the tenants in the house at the end of the chain have moved out which they have a date of 25th October but hopefully they'll move out earlier. Just want to get in!

Update from our EA:

The vendor's lender has not yet released the title deeds. This can apparently take a while, depending on the lender and how many hoops they expect people to jump through? But we have been reassured that the vendor and EA are constantly chasing to get these released ASAP.

🤷🏻‍♀️

Joining in as a FTB.

Offer accepted August 31st.
Agreement in principal already in place through broker.
Turned down for first mortgage after hard credit check showed a bad debt associated with one of my partner's previous addresses.
Second mortgage application to Halifax (who did the original AIP) who wanted us to up our deposit from 10% to 15%.
All agreed within half an hour 🙌

No idea what happens next but hopefully on track to get keys on 26 October (ideally before if we can manage it!)

Joining in!

FTB here by myself.

Offered on a new build.
Completion of build predicted October/November, but from what I can gather looking more like October than November.
Received AIP on 1st September with broker.
Reserved 2nd September and also picked options etc.
Broker tells me mortgage lender want me to sell my car (currently on finance) before they offer me the mortgage! I decline (moving away from my home town and single parent so need my car). I fire my broker and sign up with the broker's attached to the housing development.
New AIP from new broker on 6th September.
Authority to proceed received on 19th September from Help to Buy scheme.
Valuation booked for 20th September.
Valuation completed and returned to mortgage lender 20th September.

So now I'm just waiting for a formal mortgage offer. Also for the developers to send the contract over to my solicitor so she can begin checks.

Anyone who bought new build, did you wave your rights to a search to speed things up? Taylor Wimpey have advised I do this to get a fasted completion and exchange date. Solicitor hasn't got back to me with her thoughts on it yet.

Looks like our delay has shifted from the bottom to the top of the chain now

We've answered the buyer's queries so thought exchange might be imminent but I've just spoken to my EA and apparently the top of the chain (2 above me I think) has only just found somewhere. Not sure why my vendor's EA was being so pushy to me last week trying to get completion today (!!) if above is nowhere near ready... they had made out the upwards chain was all sorted!

Hope others have had more luck with getting some progress this week!

Totally sick of the whole bloody thing today, we are ready to exchange, everything is back on our purchase, we have our mortgage, we're done.

Our buyer is still, yes still faffing about with their mortgage. And God knows if they've even done anything else, Argh!!

Another week draws to a close with no contract exchange to show for it. Grrr I need a glass of wine the size of my head. 'Hopefully next week' is going to be written on my headstone at this rate!

We've all dropped the price a few k to keep the chain alive after issues with the sale at the bottom. God knows if it's going to happen but we've given it the best shot. Ftb at the bottom is using a terrible online solicitors who are confusing and slowing the whole process down.

Tip to the first timers out there: use a local or, if not that, at least very reputable online agency. You may save yourself a few hundred quid in fees but it's not worth it if the service you get is terrible and holds the process up and/or causes the sale to fall through altogether. Ditto for EAs. Aargh

To all my fellow sufferers out there. I raise my glass and wish for good fortune for all of you. (The glass isn't as big as my head but it's very full and I plan to refil it a few times)

When they said buying a house was more stressful than death and childbirth they weren't kidding!

Very almost exchanged! All issues resolved. My solicitor emailed me at 1pm today to ask if I wanted to exchange. I didn’t see it until 2om, called back and not heard back since. Hoping to exchange on Monday?

(will still join you all for a glass of vino once the kids are in bed though!)

Fingers crossed for Monday, Bumblebeebum!

Spoke to estate agent yesterday who said to expect a call about exchange today. Finally at 4.30 we got an email from our solicitor to say our buyer's solicitor had just contacted her and they want to complete next Friday but she thinks it's too tight now to make sure funds are in place and we'd end up exchanging/completing on the same day. Told her we definitely don't want to do that so it's back to the drawing board to get a new completion date. Really hoping we can exchange next week!