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Buyers/Sellers Exchange waiting room

1000 replies

spidershavetoomanyknees · 31/01/2023 08:57

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.

OP posts:
Pipersgirl · 04/05/2023 13:13

Hi all, I would love to join the thread.
We put our house on the market in Feb, offer of 15k under asking (around 3% of property value) accepted around 3 weeks after going on to first time buyer with ‘huge deposit’ 🙄
We have now been at a standstill for 9 weeks waiting for them to sort their mortgage- moved from overseas so unsure if it is just taking a long time to check paperwork or if they just simply won’t get the mortgage. They have gone to a second lender now apparently- but I’m not holding out much hope 😓
We are hoping to buy a newbuild which is already finished and built, so feeling the pressure to exchange and unsure how we would stand if our sale fell through. I hate this entire process 🤣
Wishing lots of luck to everyone who is waiting for exchange imminently!

Reeniebeanie78 · 04/05/2023 14:13

Hope everyone is making progress! We are meant to exchange tomorrow too (but still no idea whether that is happening or not as got some more queries today from our buyer's solicitors)... On tenterhooks now until exchange!

unluckyinlife · 04/05/2023 16:19

Our exchange happened Wednesday after some awful communication from our solicitors the week before and we are completing tomorrow!
Does anyone know if you can authorise someone to collect keys on your behalf?

ClingingOnNow · 04/05/2023 19:32

Offer accepted 18 Feb and now ready to exchange. Chain of four and we are the bottom (in rented). Allegedly all ready to go and were hoping to exchange this week but top of chain's solicitor is really slow and they don't seem to be chasing them enough. I don't think people understand you have to hound solicitors to do anything- emailing them once a week at this stage is not enough!

Wednesdayonline · 04/05/2023 20:34

Our mortgage offer came in today! Our brokers were very good throughout.
We visited the house recently and it's not being very well kept :( so hoping to try and move quickly before it gets worse!

Allfurcoatandnoknickers · 05/05/2023 17:45

Not exchanged today as our vendors were unavailable- beyond angry as they were the ones pushing for exchange today.
According to our solicitors we are now looking at Tuesday for exchange and Thursday for completion

ClingingOnNow · 05/05/2023 19:39

No exchange for us today either - vendor's solicitor doesn't work on Fridays. I'm hoping we can exchange Tuesday but I won't hold my breath.

Pipersgirl · 05/05/2023 20:09

So sorry for those who had exchanged delayed today- surely this is the only time none of us want bank holidays! Fingers crossed for some good news for you all next week!
Still no further news for us- buyers solicitor refusing to raise pre-exchange enquiries until they have their mortgage confirmed which is dragging on. We have asked that they raise enquiries so as soon as their mortgage comes in we are good to go, but seems to be radio silence all this week…not holding much hope for next week 😥

ClingingOnNow · 05/05/2023 20:52

I can't believe how short a time some of you are having between exchange and completion - how do you arrange movers?! I can't book movers til we've exchanged, it feels like a jinx 🤣

Allfurcoatandnoknickers · 05/05/2023 20:54

@ClingingOnNow its so rubbish! I just want to know what’s happened to our vendors as they seem to have gone awol!

AlwaysGinPlease · 05/05/2023 21:03

Found out today that our buyer is the one holding it all up. Everyone is else in the chain of four is ready to go. They're shit at responding to calls/emails as is their Solicitor. We have been fucked about previously so I'm feeling sick about it all. Oh why is it so hard 😔

ClingingOnNow · 05/05/2023 21:06

It's our vendor's vendors holding it up. Without being rude they're in their 60s and don't seem to understand it isn't enough to chase their solicitor once a week.

ClingingOnNow · 05/05/2023 21:07

I honestly can't focus on anything else, I'm so behind with work! I'm never moving again if I can help it.

Reeniebeanie78 · 05/05/2023 21:24

No exchange today for us either! The bottom of the chain that is pushing for specific dates for exchange and completion weren't ready which is super frustrating as had hoped to book removals today etc. Hoping we can exchange on Tuesday or Wednesday next week... Not sure I can cope with much more uncertainty. This is such a horrible process. Mean't to complete at the end of the month and needs to book removals really soon as we are moving far away from our current home! Fingers crossed those of us in non exchange Friday manage to exchange next week!

Winemygoodenemy · 06/05/2023 01:18

@ClingingOnNow my buyers who are renting to let out. Will not deal with legal documents over email. They have to get them posted and then makes an appointment in person. It’s holding things up.

housedramas · 06/05/2023 08:36

Joining the thread! We were meant to be exchanging yesterday, chain of three, and it didn't happen. My buyer's solicitor is rubbish! Didn't ensure that their deposit was paid and only realised their mortgage deed was incorrect a couple of days before but said nothing to the rest of the chain! My poor buyers have been messed around so much by then which has then knocked onto everyone else. Luckily we're all in contact which helps. Going to try for exchange on Tuesday now, damned bank holiday!

ClingingOnNow · 06/05/2023 08:37

We are all in direct contact too - it makes it much easier.

housedramas · 06/05/2023 08:40

ClingingOnNow · 06/05/2023 08:37

We are all in direct contact too - it makes it much easier.

I think it gives a bit of reassurance that hopefully nothing 'bad' will happen, that everyone has the same aim as such, doesn't it?!

ClingingOnNow · 06/05/2023 09:00

housedramas · 06/05/2023 08:40

I think it gives a bit of reassurance that hopefully nothing 'bad' will happen, that everyone has the same aim as such, doesn't it?!

Oh yes, it makes the process less anxiety inducing. I don't know why it isn't done routinely to be honest. The only person we aren't in contact with is the one at the top of the chain (fourth) but the third person in the chain says he is happy to break it if necessary. Not that he's actually done it yet!

housedramas · 06/05/2023 09:15

@ClingingOnNow if they can break that silence there then it will definitely help. It made me realise that it was actually solicitors that were causing the issues more than anything else! When are you hoping to exchange now?

ClingingOnNow · 06/05/2023 09:37

housedramas · 06/05/2023 09:15

@ClingingOnNow if they can break that silence there then it will definitely help. It made me realise that it was actually solicitors that were causing the issues more than anything else! When are you hoping to exchange now?

Christ knows! We were meant to exchange last week but our vendors vendors are slow and seem to be happy to assume their solicitors will sort it all out without any chasing. I was hoping for Tuesday but it wouldn't shock me if I'm here again complaining about it this time next week!

housedramas · 06/05/2023 14:13

@ClingingOnNow I hope you're not! You have to nag solicitors or it just drags. I feel the same though, my buyers haven't even received the new deed in the post yet 🤦‍♀️ I hope they don't send it back via snail mail or Tuesday exchange is out...

ReadyAndWaiting22 · 06/05/2023 16:57

Well it's been an entire month since I last posted on here, still yet to exchange but like many others we were supposed to/hoping to exchange yesterday and it didn't happen. Turned out the buyers at the very bottom hadn't signed a form that the bank needed to confirm they could release funds (or something like that). In all fairness to them, they did get the form signed as soon as it came to light and as far as we know it was sent straight over to the bank. By all accounts were really apologetic and upset as they thought it had already been sorted months ago. They said they were hopeful to still exchange yesterday but it was 4pm by the time the form got sorted so we knew it was unlikely. We're taking comfort in the fact they everyone in the chain was ready and willing to exchange yesterday at least and it was just a paperwork hiccup.

Only slight issue now is that one of the solicitors in the chain is N/A on Tuesday so we have to wait until Wednesday to exchange and we're supposed to complete on Friday 12th! Hopefully that at least gives the solicitors at the very bottom all of Tuesday to get confirmation from the bank that they now have everything they need and can release funds in time for completion on Friday and then we can exchange pretty swiftly on Wednesday - it's so nerve-wracking though as it only leaves a few days.

For everyone else who is completing and exchanging next week - have you bitten the bullet and powered on with packing? We've had to pack up this weekend as we have no choice and no other time to get organised before Friday. Would be great to get some reassurance this is the right thing to do and we're not jinxing anything. I don't see what other choice we have!

housedramas · 06/05/2023 20:44

ReadyAndWaiting22 · 06/05/2023 16:57

Well it's been an entire month since I last posted on here, still yet to exchange but like many others we were supposed to/hoping to exchange yesterday and it didn't happen. Turned out the buyers at the very bottom hadn't signed a form that the bank needed to confirm they could release funds (or something like that). In all fairness to them, they did get the form signed as soon as it came to light and as far as we know it was sent straight over to the bank. By all accounts were really apologetic and upset as they thought it had already been sorted months ago. They said they were hopeful to still exchange yesterday but it was 4pm by the time the form got sorted so we knew it was unlikely. We're taking comfort in the fact they everyone in the chain was ready and willing to exchange yesterday at least and it was just a paperwork hiccup.

Only slight issue now is that one of the solicitors in the chain is N/A on Tuesday so we have to wait until Wednesday to exchange and we're supposed to complete on Friday 12th! Hopefully that at least gives the solicitors at the very bottom all of Tuesday to get confirmation from the bank that they now have everything they need and can release funds in time for completion on Friday and then we can exchange pretty swiftly on Wednesday - it's so nerve-wracking though as it only leaves a few days.

For everyone else who is completing and exchanging next week - have you bitten the bullet and powered on with packing? We've had to pack up this weekend as we have no choice and no other time to get organised before Friday. Would be great to get some reassurance this is the right thing to do and we're not jinxing anything. I don't see what other choice we have!

Sounds like you've had the same problem as me with my buyers mortgage deed! I've started packing though, aiming to be nigh on done by Monday evening... I don't think we'll exchange Tuesday though as they still haven't received the deed to sign in the post 🤦‍♀️ We're meant to be completing Friday but it's looking doubtful now. Gutted to say the least. I've booked time off work etc too. Are you having movers in? I'm not sure what is a normal quote! We've had prices ranging from £490 to £810...

Messyhair321 · 06/05/2023 20:46

We're selling & buying. We think our buyer is going to try to renegotiate the price, we're 5 weeks following accepting the offer they made - £15k below asking price because we saw a house we wanted to buy. Now they want a survey (they've had once already). Only now they want another, (no issues brought up with the first). The surveyors have booked in two weeks time.

Our agent who is handing both our sale & the buyers sale as well as their purchase on our property have been slack throughout. Putting pressure to remove our house from the market right at the beginning of marketing it, for a buyer not even on the market. This buyer they seem to earmark for our house, and it is them that eventually did sell theirs & are buying our house. Couldn't help feeling that they have engineered this somehow.

On the upside we're ready to go, mortgage in place & our purchase house is empty, all searches completed survey done no issues.

But. I cannot bear our agent, they give the impression that they're working for our buyers, I've made this plain to them but they don't change. We knocked our house price down & because of their lack of coordination almost lost the house we want to buy.

I want to remove myself from the contract with them - obviously we don't want to upset our sale, & I don't think it would, the notice period would cover the sale but I'm thinking if the buyer tries to renegotiate we won't be dropping anymore, & we would then need to remarket & want to do this elsewhere. There's a 6 month period where if we exchanged within that period following sale with other agent we'd have to pay a percentage to them should we sell to someone they introduced, so we're thinking of handing notice in sooner rather than later.
My heckles go up every time they call I just have no faith whatsoever in them. Yes they sold our house but there was so many mistakes & unnecessary stress. It was a total circus.
Any advice appreciated

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