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Buyers/Sellers Exchange waiting room new thread

1000 replies

thoughtsofmoog3 · 12/06/2023 15:33

I noticed the last one was full, so here we go!

Hello to the newcomers and welcome back to those who are still working their way through the joys of house buying/selling.

OP posts:
EmmaEmerald · 17/10/2023 17:51

NoWordForFluffy · 17/10/2023 17:49

It took our lender 3 weeks from application to offer.

Our vendor has chased their sols today (resisted the urged to ask how he chased and what response he got!), so hopefully we can move to exchange soon, if his chasing works! Surely they want it sold?!

But does "offer" mean 100% to give the mortgage and all confirmed on paper please? So in a chain free situation, you'd be able to fix an exchange date?

NoWordForFluffy · 17/10/2023 17:55

As long as all the searches were done / enquiries answered, yes. 100% offering what we need (with all the Ts&Cs of the mortgage etc).

It's enquiries holding us up now. Everything is signed / ready to go, bar responses to enquiries and amendment to lease plan.

EmmaEmerald · 17/10/2023 18:32

NoWordForFluffy · 17/10/2023 17:55

As long as all the searches were done / enquiries answered, yes. 100% offering what we need (with all the Ts&Cs of the mortgage etc).

It's enquiries holding us up now. Everything is signed / ready to go, bar responses to enquiries and amendment to lease plan.

Thanks
I canI can't see what the hold up is then
and it makes me suspicious he will ask for a reduction.

NoWordForFluffy · 18/10/2023 13:57

Ooh. We have replies to enquiries! Not sure about the lease plan issue, mind, but it's a start.

elusivesale · 18/10/2023 18:02

Damn, am I going to exchange before this thread moves on to the next one?!

Chasing solicitors and estate agent for building insurance certificate (block insurance from managing agents - they'd sent one for the wrong postcode on the same road last week) and then I think that's the last thing before we can exchange with completion next Friday. Slightly scary as is this is me leaving the FMH in an ongoing divorce but also exciting. Looking forward to not sharing space wit stbxh but I know I will achingly miss 50% of time with the children.

NoWordForFluffy · 18/10/2023 18:11

Surely you will, @elusivesale. There's still 94 posts to go, and we don't post that quickly!

I'm just hoping that everything is fine with the solicitor's responses to enquiries, plus they've responded to the amended lease plan favourably, and we can exchange next week. Then just the wait until completion!

Crocamoc · 18/10/2023 18:39

Can I join? Offer accepted end of July. Short chain of 4, but house I’m buying has tenants in situ who are buying their own house. Meant to exchange last Friday. Then Monday, told we couldn’t as FTB at bottom of chain hadn’t transferred deposit funds but would DEFINITELY exchange Tuesday. Tuesday 6pm after a whole day of chasing I’m told her bank “forgot” to do the transfer but it was now done and half funds received, due to large amount it had to be done in 2 payments. 2nd payment would be made today and we would DEFINITELY exchange. Today we start exchanging and then solicitor at the top announces they won’t exchange until tenants in house I’m buying sign and return a form to say they’ll be out before completion date. Tenants only received this form yesterday, solicitors won’t accept scanned copy, has to be the hard copy. Tenant has signed and sent back next day guaranteed delivery. So now we wait and see if the form arrives at the solicitors tomorrow, I’m told once it does we will DEFINITELY exchange tomorrow. Meant to be moving in 2 weeks, i’m a single parent working a 40 hour week and currently no idea how I’m going to find time to pack up the entire house myself. Stress levels are through the roof.

lemonyellows · 18/10/2023 20:47

Crocamoc · 18/10/2023 18:39

Can I join? Offer accepted end of July. Short chain of 4, but house I’m buying has tenants in situ who are buying their own house. Meant to exchange last Friday. Then Monday, told we couldn’t as FTB at bottom of chain hadn’t transferred deposit funds but would DEFINITELY exchange Tuesday. Tuesday 6pm after a whole day of chasing I’m told her bank “forgot” to do the transfer but it was now done and half funds received, due to large amount it had to be done in 2 payments. 2nd payment would be made today and we would DEFINITELY exchange. Today we start exchanging and then solicitor at the top announces they won’t exchange until tenants in house I’m buying sign and return a form to say they’ll be out before completion date. Tenants only received this form yesterday, solicitors won’t accept scanned copy, has to be the hard copy. Tenant has signed and sent back next day guaranteed delivery. So now we wait and see if the form arrives at the solicitors tomorrow, I’m told once it does we will DEFINITELY exchange tomorrow. Meant to be moving in 2 weeks, i’m a single parent working a 40 hour week and currently no idea how I’m going to find time to pack up the entire house myself. Stress levels are through the roof.

Book a packing service. Not much more.

EmmaEmerald · 18/10/2023 20:58

lemonyellows you mean packing services aren't that much more expensive?

Gardenhair · 18/10/2023 21:02

And we're in!! Bows out and wishes everyone all the best.Wine

EmmaEmerald · 18/10/2023 21:12

Gardenhair · 18/10/2023 21:02

And we're in!! Bows out and wishes everyone all the best.Wine

congratulations!

Housesellingnightmare · 18/10/2023 21:16

This reply has been withdrawn

This has been withdrawn by MNHQ at the OP's request.

NoWordForFluffy · 18/10/2023 21:35

Congratulations, @Gardenhair!

lemonyellows · 19/10/2023 10:03

EmmaEmerald · 18/10/2023 20:58

lemonyellows you mean packing services aren't that much more expensive?

Mine is £400 more to pack a four bed house plus shed. De-assemble furniture and reassemble the other end

EmmaEmerald · 19/10/2023 10:34

lemonyellows · 19/10/2023 10:03

Mine is £400 more to pack a four bed house plus shed. De-assemble furniture and reassemble the other end

Thank you.

I'm now being told that the lender's mortgage people have a panel of solicitors who have to look over the conveyancing. I realise things are taking a long time, so this is going to add....I wonder how much time, given that it's a high rise building with a complicated lease?

elsieandthepooch · 19/10/2023 12:26

We have just exchanged after a very stressful few months. No chain and our buyer is a cash buyer. We are completing tomorrow.

NoWordForFluffy · 19/10/2023 13:06

Well done, @elsieandthepooch!

elusivesale · 19/10/2023 15:25

elsieandthepooch · 19/10/2023 12:26

We have just exchanged after a very stressful few months. No chain and our buyer is a cash buyer. We are completing tomorrow.

Congrats @elsieandthepooch !

I've sent over deposit money and fingers crossed will be exchanging tomorrow with completion next Friday! DP and I will be celebrating tomorrow if exchange happens, not yet!

EmmaEmerald · 19/10/2023 15:47

elsie congratulations.

I sense weariness in your tone....may I ask how long it's taken? My sale is chain free and we are on month 5, excuses being mortgage hold ups.

The stress of it such that I'm on the verge of pulling out. Plus, my new home is not working out and I'd quite like to go back to the old one.

This seems a ludicrous level of hassle compared to the last time I sold a property - in 2020. I can't work out if it's mortgage lenders requirements going OTT or because it's a high rise or what.

elsieandthepooch · 19/10/2023 18:16

Offer went in end of June. We are chain free. Hold ups for us were with managing agents. Lost 3 weeks to them losing my Solicitors paperwork and request for management pack a then a further 3 weeks to only 1 person authorised to answer questions. The enquiries landed when this person took themselves off for annual leave. Selling flat, share of freehold

EmmaEmerald · 19/10/2023 19:06

elsieandthepooch · 19/10/2023 18:16

Offer went in end of June. We are chain free. Hold ups for us were with managing agents. Lost 3 weeks to them losing my Solicitors paperwork and request for management pack a then a further 3 weeks to only 1 person authorised to answer questions. The enquiries landed when this person took themselves off for annual leave. Selling flat, share of freehold

Ah, thanks

I accepted an offer on 19th May I think.

Gardenhair · 19/10/2023 21:01

Thanks all Wine:)

MillTree · 20/10/2023 10:01

Morning everyone! May I join? My situation is: we sold our house in May to a first time buyer (£10K over asking), but two months into the process he failed to get a mortgage. We were shocked, as we thought our agent was supposed to be good at filtering out people. But hey ho. It's been a difficult year, so we rolled our sleeves up and started viewings again in July.

We then sold again in August (£5k under asking) to a really nice couple who have sold their house and were already far along the process. All good. But the house we're buying – that's all delayed as our seller is purchasing a new-build and the property won't be ready until end of November. So, actually, it's all worked out really well.

However, we did have to apply for another mortgage as our original offer runs out this month. Which means our costs have gone up. But hey ho, this is what we half expected.

We know we've been very lucky overall, as we live in a popular area where properties always get snapped up – even during downturns like this. But we're not there yet. We're probably six weeks away from moving, which will make it seven or eight months of this entire process. I'm sure that's not a lot compared to some of you. But it's felt like forever to us!

We're moving out of the city and back towards "home" to be near family. Classic. And can't wait for the peace and quiet. To be back in the countryside, surrounded by green and no longer under a flight path. We're also downsizing on cost but finally getting a detached house, a garden and a driveway! We're in our mid-forties, so can't wait to buy a lawn mower and have a constant space for our car outside.

Whilst all this has been going on, it's been a very tough year for us. On so many different levels. We both are trying our best to stay positive but everything feels "on hold" until the big move.

It's the uncertainty I can't bear. It feels as though we're in a state of limbo. I've lost all motivation to clean the house. Every aspect of it is irritating me. It's like that series of scenes in Groundhog Day when he starts smashing the alarm clock. Don't get me wrong: I'm not going to steal a groundhog and drive my car off a cliff, but I'm certainly damn sick and tired of being in this house! 😂

And to top it all off, our buyer wants to see our house for a third time this weekend. Which means I've got to magic up some energy from somewhere to get it sparkling again. With everything that's going on in the world, it's hardly a big deal, is it? But to me, I'm exhausted. I want my new life to begin. Like, yesterday! 😊

NoWordForFluffy · 20/10/2023 10:10

The house buying / selling process is mentally exhausting, I think. Thankfully, we're just buying this time. The first time I sold / bought, I lost my buyer the day before exchange. That was stressful!

I hope everything goes smoothly for you from now on, @MillTree.

MillTree · 20/10/2023 10:15

Thanks @NoWordForFluffy That's the thing... at this point, it could all go wrong. It's all looking positive, though. That's what I keep telling myself. I am not sure I'll do a 'chain' again. Will always sell in future, go into rented, and then buy. But hey... I ain't moving ever again!!? 😱What about you?

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