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How Much Longer Until Exchange??

4 replies

Frogpig · 01/06/2022 19:24

Evening everyone!

Just wondering if anyone who has recently purchased a property can give me an indication as to what else needs to be completed before we set a date to exchange?

The valuation has been completed and awaiting the mortgage offer.
Searches completed and enquiries sent by our solicitors and most responded to by seller's solicitors.
We have a survey booked in for next week but this is independent and the mortgage isn't dependent on it.
We have the contract pack from the Sellers.

What else do we need before we set a date to exchange? Neither ourselves nor Sellers have a chain but its only been 3 weeks since the offer was accepted so feel there must be quite a few more steps before we get to the stage of arranging exchange/completion.

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WoWsers16 · 02/06/2022 08:25

We are a bit the same as you -
mortgages all in place (we only ones in chain with one)
small chain of
buying to let (cash buyer) - cash buyer - us - empty property.
all surveys done and now in stage (yesterday) enquiries all sent/received from our buyers. I’ve got the replies to their enquiries all ready but with bank holiday won’t be looked at till next week now.
I would of thought that some enquiries may happen after the survey?

mortgage offer just took 8 days for us so that was quick.
we had our offer accepted on April 28th and they’ve told us maybe end of June move date (has to be confirmed)
we all in the small chain seem to be proactive so fingers crossed!

SafelySoftly · 02/06/2022 08:51

Have you received the Property Information Form and all supporting paperwork? And negotiated the Fixtures and Fitting form?

And you need to digest and ask questions/negotiate post survey too.

Dougieowner · 02/06/2022 14:18

How long is a piece of string?

When we sold last year we were told by the EA that our buyer was sold, living in temp accommodation and had the finances in place (i.e. the perfect buyer).
Roll on many weeks (too many with hindsight) and we kept being told that exchange was happening "tomorrow" but tomorrow never came. We kept piling on the pressure (as did the sales team of our newbuild developer) and were suddenly told that we could not exchange as our buyer was still waiting to exchange on their sale. WTF!!!!!!!
Hash words all round but still our EA said to stick with them as it would all go through "in a couple of weeks" (although why I still had any faith in this lying, devious worm I have no idea).
2-Weeks later they exchanged on their sale but now they couldn't exchange on our house as they had the "wrong type" of mortgage so had to instruct a new solicitor. WTF again!!!!!!!!
Roll on another few weeks and it did all happen but my trust in EA's & solicitors is now non-existent.

Good luck

Frogpig · 07/06/2022 10:48

Thanks everyone for your replies and sorry for the delay in responding. We do have the property information pack and fixtures and fittings forms so I think you're right, we just need to digest and wait.

Reading through your replies shows that every situation is really so unique and chaos can be thrown from every angle so just have to find the right balance of patience and persistence.

I'm sorry to hear of all of the issues you've experienced @Dougieowner it's stressful enough without people knowingly throwing curveballs at you.

@WoWsers16 that was quick for a mortgage offer, ours has been about 3 weeks so far, hopefully get it this week but until we have it, its all so uncertain with thousands of pounds down the drain if it doesn't work out.

Good luck to you all x

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