How long now to exchange?

[shouldvebeenme]

10 weeks in from offers accepted. All wanting to exchange before Christmas but one buyer unable to complete before Christmas for work reasons.

Chain of 4. No FTB.
All have mortgage offers where needed.
Surveys done.
Searches back on 2 houses, other 2 due back next week.
Enquiries complete or nearly complete.

I’m thinking we should be ready to exchange in the next 2-3 weeks?

Ps not expecting any problems with 2 searches outstanding. 1 is my house and our searches were fine when we purchased. Other is an old house on a similar street, no environmental or development concerns.

Pfttt I’m on 14 weeks chain of 4 everything seems to be done and we still have no idea when exchange will be 🙄 I’m not expecting it to be before Xmas but I’m a negative Nancy.

@organisedmother

Pfttt I’m on 14 weeks chain of 4 everything seems to be done and we still have no idea when exchange will be 🙄 I’m not expecting it to be before Xmas but I’m a negative Nancy.

Really? What’s stopping it?

Buyers buyer solicitor is rubbish, we have been done on my end for 5 weeks now, with the searches something will come back like the tiniest thing you would of never noticed.

Solicitors all shut early before Xmas. You will be very lucky to exchange before Jan I would think. Sorry. Usually these things drag in far longer than they should.

From what you have described, an exchange before Christmas is doable.

We thought everyone was ready two weeks ago (about 10 weeks in). Chain of 5. Then our solicitor noticed a problem. That took 5 days resolve. Fine, all good this week. No. Bottom of the chain found something was missing in their paperwork (solicitor at that end is terrible). It’s all back now, we’ve spent 2 days going between solicitors to agree dates. Still haven’t 🤦🏼‍♀️ It’s insane. Solicitors will not pick up the bloody phone & call each other. They just email & it gets ignored. The entire chain has had estate agents doing the ringing & chasing.. you can tell who doesn’t get any money if the sale falls through can’t you! 🙄

You might be lucky but def expect the unexpected. It’s been unexpectedly bumpy. We are buying a 4 year old house & anticipated it would be super straightforward. But no, survey pulled up a high ground water floor risk that we needed to investigate. That took a couple weeks to get an in-depth report. Then no-one could find the section 38 agreement. Then when that was found, the council raised that they couldn’t find a report that was required in building regs. 😫

@joystir59

Solicitors all shut early before Xmas. You will be very lucky to exchange before Jan I would think. Sorry. Usually these things drag in far longer than they should.

Ours are closing at 5pm on 23/12 so a while off yet!

Yes ours finish 22/12 and stay open for urgent things. I cannot see any reason we won’t exchange before, there is no flooding / environmental / development risk here and all the houses below us have sold quickly before. People are accepting ridiculous delays.

We are in week 14 - chain of 5. All mortgages/searches etc are in. Our solicitor said pre
Christmas exchange is unlikely due to enquiries still being done/responses from enquiries not all in.

@Shadowboy

We are in week 14 - chain of 5. All mortgages/searches etc are in. Our solicitor said pre Christmas exchange is unlikely due to enquiries still being done/responses from enquiries not all in.

It’s bonkers how long this all takes. Last time I moved chain was similar and it only took 8 weeks from viewing. The volume of form filling has risen to a ridiculous level. Enquiries are all back. It’s just searches, knowing the area and houses being sold I really cannot see that the searches will result in more enquiries.

I'm on week 14 and we exchanged this week so moving in week 15. As long as nothing really comes up on the others searches you should be good to go in 2-3 weeks.

Argh. This thread has worried me. We are 16 weeks in and still don't have the completion certificate for some work done on the property. We specifically mentioned needing this when we made an offer so to find out now that we aren't any closer to having it is just killing us. I'm so confused as the why the sellers solicitor isn't explaining this to them properly. Despite this I felt sure it would be done by Christmas but now you have all made me think it won't be. So fucked off with it all.

Once searches are back, they tend to generate more enquiries. I think you're looking at a January exchange.
You need to bear in mind the solicitors will be prioritising their work and they will be concentrating on those completing this side of Christmas.

@Baxdream

Once searches are back, they tend to generate more enquiries. I think you're looking at a January exchange. You need to bear in mind the solicitors will be prioritising their work and they will be concentrating on those completing this side of Christmas.

As I mentioned upthread, I cannot see anything coming back on or searches or the house the buyers are selling. There is no environmental issues or developments in the area.

prepare not to go before Christmas and if you do it’s a nice surprise, I was supposed to exchange Friday 13th 🙄 I’m getting my Christmas tree down today 😂 I don’t trust the system and all the solicitors to pull this out of the bag in time

and all the houses below us have sold quickly before
Sorry @shouldvebeenme , that made me laugh.
You do realise that the threshold for what needs to be investigated or dealt with keeps changing all the time don't you? Because the mortgage companies who are actually paying for the house change their requirements very regularly.
The fact that something sold last year with no problem is completely irrelevant, each lender can have different requirements and can change them whenever they like.
Even if the lender's requirements haven't changed there may well be changes in the search results which need to be investigated, that's why searches are only valid for a relatively short space of time. That nuclear power plant around the corner that got planning permission last week wasn't an issue last time the house sold, but certainly will be now!

@DameCelia

and all the houses below us have sold quickly before Sorry *@shouldvebeenme* , that made me laugh. You do realise that the threshold for what needs to be investigated or dealt with keeps changing all the time don't you? Because the mortgage companies who are actually paying for the house change their requirements very regularly. The fact that something sold last year with no problem is completely irrelevant, each lender can have different requirements and can change them whenever they like. Even if the lender's requirements haven't changed there may well be changes in the search results which need to be investigated, that's why searches are only valid for a relatively short space of time. That nuclear power plant around the corner that got planning permission last week wasn't an issue last time the house sold, but certainly will be now!

There is no nuclear plant. It’s a conservation area, next to a protected forest, there are no developments permitted anywhere near, there are no concerning planning applications either. Envioronmental issues- nil. I’m not daft, nothing surprising will come up.

Conservation area in itself can throw concerns up. You also may not know what negotiations are taking place elsewhere in the chain. Getting the various mortgage offers, deposits and insurance in place for exchange can be last minute.

5 months for me, complete next week, FTB buying mine and house I am buying is empty.
Everything is soooooo slow

I’m buying conservation area too, was more hassle than buying on a housing estate for some reason 🤦🏼‍♀️

@organisedmother

I’m buying conservation area too, was more hassle than buying on a housing estate for some reason 🤦🏼‍♀️

Really? I didn’t find it a problem. Covenants were declared upfront and everyone in the chain already lives in the area.

@Pippioddstocking

5 months for me, complete next week, FTB buying mine and house I am buying is empty. Everything is soooooo slow

That’s crazy

Ours has taken since July and we completed this week, that was a chain of 3 houses.

Offer accepted 6th August, exchanged last week (13 weeks) and will complete in December.

Chain of 3, we're breaking the chain, the delay was the buyers at the bottom getting their mortgage approved, took forever!!!