Buyers/Sellers Exchange waiting room

[spidershavetoomanyknees]

Currently waiting for exchange, stuck in a never-ending loop of "there's been a couple more enquiries higher up the chain" and "we're nearly there now". Wondering if there's anyone else who would like to join me here in the waiting room of doom to vent into the void.

Next train for Exchange (line terminates at Completion) is currently delayed and they'd like to apologise for the delay.

I have now heard that my buyer’s solicitor is on leave until Friday so the proof of funds for his sudden gifted deposit won’t get signed off until then. Apparently the buyer has sent documentation through. They are talking about being able to exchange early next week but I honestly won’t believe it until it happens! He is using those PMPL online conveyancers and they are incredibly difficult to get hold of according to my solicitor.

It is so frustrating being at the mercy of so many third parties and it seems we can only ever move at the speed of the most inefficient one!

It is so frustrating being at the mercy of so many third parties and it seems we can only ever move at the speed of the most inefficient one!

Hear, hear. We have just gotten word that we are not completing this week. I am starting to wonder if bottom of the chain actually has the money. They keep finding excuses why they haven't transferred the deposit money and it is getting more and more ridiculous. Apparently we are now looking at next week or the week after. Top of the chain is so antsy that I fear they're going to pull out. This stress and uncertainty is really getting to me now. Can't focus on work. Feel like I'm "stuck" because we can't get on with stuff and life is just in limbo.

You've just reminded me that the day we moved we managed to lock ourselves out of our new house 🤣 Our old front door was only locked if you used the keys. Luckily we spotted a locksmiths van around the corner so we went and knocked on their door for help.

@thunderouslug - I know exactly how you feel about being in limbo, I said exactly the same yesterday. Even though we have moved I’m putting off loads of plans for getting involved in the new area because my brain is just stuck in stress mode due to the whole process. As for actually looking for a new property, I can’t even go there! Thankfully the rental we are in is comfortable and hopefully I will feel able to muster up the strength and enthusiasm once this sale is done.
I really hope your chain gets there soon and the buyer at the bottom sorts themselves out!

No exchange date locked in yet. For others, has it been informally arranged? I noticed a few people highlighting they were surprised when exchange happened that day without being aware?

With a completion date of the 6th we have 3 days left. Given the 6th was arranged last Friday, I sort of assumed by close of play today we'd know when the exchange is happening.

@Sousuke when I sold in the past I was told it would be Thursday or Friday, so not really formally arranged. I got an email late on the Thursday to say it would be Friday and then a phone call Friday morning for verbal authorisation to exchange. Completion date was a week later.

@Karmatime Ah PMPL...assuming we are talking about the same shop up in Sheffield ...thats who the middle group are using. Their solicitor doesn't work Mondays.

We exchanged! Been a blur since of calling insurers, confirming movers etc. Can't believe it's finally happened

I guess it depends how much contact you're in. With our solicitors we were emailing at least once a week with the latest and I was always asking which day, so we did get some warning. We didn't get asked for permission to exchange until 3 though which is later than I thought it would be

We finally got our soil results (almost a week later than it was meant to be) and they are FINE. The relief is insane, we were a crumbling mess all weekend.

Now just corralling everything up for exchange. Everyone is ready and frothing at the bit, and agreed for the 15th completion but vendors solicitor is being slow. Apparently they were reviewing the files today/tomorrow so I’m secretly hoping we will exchange this week.

But feel very relieved that we’ve crossed the big hurdle and hopefully this time in 2 weeks time we will be ready to go!

Eeek congratulations! What a relief! I suspect we're still in the early stages almost 6 weeks down the line. It's reassuring to see people meet the final hurdles.

Yay congratulations @spidershavetoomanyknees and great soil news @Inapicklee - the end is in sight! I daren’t think that yet but do hope that now my buyer is no longer in a chain that we can move quickly once his elusive solicitor returns from holiday.

@Inapicklee amazing news about the soil! I bet you slept well last night. Hope it goes speedily for you now

Thank you!
Last solicitor has confirmed the date we want is fine, they have 1 enquiry to complete before we can exchange but I feel much better knowing everyone is happy with the date!

Fingers crossed it is just a little enquiry which will be completed quickly.

Small update - Apparently the middle solicitor was finishing up some completion documents today and its reported that exchange can happen tomorrow (Thursday). So hopefully all goes smoothly as the completion date is Monday.

Oh how lovely@Sousuke

I think I'd prefer a short timeline between exchange and completion. Mostly because I'd still worry about delayed completion once exchange is done. Last time we did both on the same day and it worked out well but I was working at the solicitors so felt confident it would go ahead. I'm not quite so confident this time!

Yay @Sousuke - keeping everything crossed that exchange is smooth tomorrow. I think my buyers want to complete as soon as possible after exchange and as I’ve already moved out that would suit me too. I just have to hope that they will actually be in a position to exchange early next week as promised. There have been lots of promises that have not been kept but this time there should be no chain so it might be 8th time lucky - I’ve actually lost count!

@PleaseJustText @Karmatime Thanks both. Luckily we are vacant already (and far away - we have friends check the place monthly...last checked about 6 days ago in fact) so the timeline isn't bad for us. I think my only concern was that as we got into March the garden probably is starting to need attention, so I was going to hire someone we used in the past after I knew the exchange happened. The quick turnaround makes that impossible. Hopefully providing the garage to our buyer a few days ahead of completion makes up for any tall lawn / weedy planting beds. (They need space to help them get out of their property for Monday).

We've just been sent a copy of the survey on our house. The surveyor has said to our buyer there's around £7k of repairs needed - mainly roof stuff on the whole. My OH is now refusing to budge and says that he's got a good deal and won't reduce our price as our house is perfectly liveable in etc etc., Is this sort of thing usually negotiated with the solicitors or agents - I can feel it's all starting to go horribly wrong 😢

Typically something the agents deal with rather than the solicitor.

Ah ok thanks!

@Allfurcoatandnoknickers I had a similar issue with my sale. I did reduce but only after a detailed quote from a roofer. This was all dealt with via the estate agent.

Thanks @Karmatime yes I'm just waiting now for it go through all the proper channels. We've not had any issues, and just feel that we took a lower offer from this guy and was hoping that would make him realise he was getting a good price for our house. It's been up since 1918 so don't think it'll be falling down any time soon. These bloody surveys make everything sound so drastic. We had one done on the house we're buying and have let a few things slip as they didn't seem to be too bad, but this surveyor has used a kind of traffic light system and it all looks catastrophic!!

To be fair to your husband, the survey for our purchase highlighted 5k of work. The majority of it was arse covering. The only genuinely urgent work is cleaning the roof and fixing slipped/broken tiles. We knew that when we put an offer in (we have eyes and looked up) so it would be cheeky to expect a discount. How much of the work is arse covering and /or obvious?

@PleaseJustText Not really sure at this stage. Just scanned through it and will talk tonight about it. I think some of it will be arse covering, but some might be genuine, but as I said the house was built in 1918 and a lot is to be expected! Will see what the estate agents say as they've had sight of it now and have asked our buyer how he wants to proceed. I've said I'd like to know if any of these issues require immediate attention, and if he wants to have a specialist come and look for a second opinion he can do and pay. I also think the valuation reflects a fair price on our house so will see what they say to that...