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The nervous wait to exchange....

Discussion in 'Home and Garden' started by noj, Apr 3, 2014.

  1. noj

    Hitman

    Joined: Nov 10, 2011

    Posts: 615

    Location: Surrey

    Got a good offer on our house, buyers in a good position and offered above asking price.

    Had an offer accepted on a house, below asking price

    Paperwork on the go, now got that nervous wait until exchange of contracts. Want to get excited by the prospect but worried it'll all fall through :( The new house is twice the size of our current house and I'll be able to have a proper man cave whilst the Mrs has a room and we still have a guest room.

    Roll on exchange so I can get properly excited by it all
     
  2. snips86x

    Capodecina

    Joined: Nov 14, 2012

    Posts: 16,648

    Location: Close to Swindon, but not Swindon

    Good luck mate, sounds like you've found just what you're after. Pics of your man cave when you can yeah? :)
     
  3. ReidReads

    Associate

    Joined: Apr 2, 2014

    Posts: 12

    I'll be experiencing that myself soon mate so fingers crossed for you
     
  4. psd99

    Mobster

    Joined: Sep 7, 2008

    Posts: 4,829

    congratulations, stay positive!
     
  5. Gambisk

    Wise Guy

    Joined: May 22, 2013

    Posts: 1,229

    Location: N. Ireland

    Good luck man hope it works out for you.
     
  6. noj

    Hitman

    Joined: Nov 10, 2011

    Posts: 615

    Location: Surrey

    the worst bit is you gut the flurry of activity about offers etc...then it goes quiet....then another flurry of activity from the Conveyancer then it goes quiet....then a flurry on the mortgage and then it goes quiet.......

    The next milestone is getting the formal mortgage approval - got the agreement in principle piece without issue. Should get that through this week and then its surveys and exchange

    I'll post up a picture of how it currently looks...the four poster "princess" bed replete with pink covering and bunting on the wall gives just the right design impression I'm planning :D
     
  7. psd99

    Mobster

    Joined: Sep 7, 2008

    Posts: 4,829

    my problem was I was so eager and passionate about the property and I kept ringing the conveyancer up
    there were too many phonecalls, e-mails and letters and I felt very stressed out
     
  8. Adam

    Sgarrista

    Joined: Oct 18, 2002

    Posts: 8,862

    The house I was trying to buy previously fell through twice on the day of exchange, it's a terrible system full of stress and worry.
     
  9. psd99

    Mobster

    Joined: Sep 7, 2008

    Posts: 4,829

    why did it fall through twice though?

    it is gazumping and gazundering that worries me the most.
     
  10. noj

    Hitman

    Joined: Nov 10, 2011

    Posts: 615

    Location: Surrey

    so a slight problem but hopefully nothing major. My wife works at my parents business, its a small set up of 6 people. We sent off pay slips and bank statements and because her pay slip was handwritten they now want to go and do a load more checks before giving the formal offer.

    The paperwork they were supposed to send out on Monday they forgot to do and so we've lost a week while they faff around.

    Meanwhile our buyers are progressing and have booked the survey and our seller estate agent are asking why our survey hasn't been booked yet.

    Unnecessary stress :(
     
  11. R B Customs

    Mobster

    Joined: Sep 22, 2005

    Posts: 3,255

    Location: Manchester

    chin up mate!

    we're buying at the moment - no chain at either end (we are FTB, seller is moving into a caravan!) but there's already loads of big delays. latest one is they need more of my lass's bank statements from an account which was closed at the end of december 2013, so that's 7-10 working days' to get them sent out. you just have to wait I guess! but loosing time because of someone elses error is annoying.

    my worry is that the seller is actually waiting for us now, so despite being first time buyers we're still holding them up to an extent - not too concerned though, they would not start the process again by taking another offer or anything like that, I think that would be risky for them as it's not the kind of house that would attract most buyers, nevermind first time buyers! I wasn't expecting us to be the delay though - it will be their turn to hold us up soon I imagine.
     
  12. Pabl0

    Wise Guy

    Joined: Apr 6, 2006

    Posts: 1,358

    We had similar delays because Halifax were a bunch of *******.

    In the end it took about 3/4 weeks longer then it should off because of this, still i'm sat in my house now so it all still worked out!

    Try not to get to stressed over everything as its pretty much out of your hands!
     
  13. noj

    Hitman

    Joined: Nov 10, 2011

    Posts: 615

    Location: Surrey

    Yes I should relax more about it I know. I know the mortgage will be fine - one of the advantages of being in credit management - its just the faff of it and the paranoia of loosing the house we want.

    still...the paperwork arrived today and we've turned it back round to them so should be good to go soon.
     
  14. Firestar_3x

    Caporegime

    Joined: Mar 11, 2005

    Posts: 29,885

    Location: Leafy Cheshire

    Horrible time, I'm sat waiting for a valuation survey and home buyers report to be done, Halifax are taking longer to arrange than i would like, so we've got no date or anything.
     
  15. StevieP

    Soldato

    Joined: Jan 2, 2004

    Posts: 6,878

    Location: Chesterfield

    This is the most frustrating bit - I'm sure 95% of things that seem to drag on for months could be done in a few hours if the estate agents and/or solicitors didn't want to just try and justify their costs!!!

    Right up until the exchange I was convinced something was going to go pear-shaped!!

    Best of luck to the OP...
     
  16. R B Customs

    Mobster

    Joined: Sep 22, 2005

    Posts: 3,255

    Location: Manchester

    sounds rubbish! have you arranged the home-b-u-y-e-r-s survey yourself? or is the bank doing that to? I have our structural surveyor on standby, also waiting for the bank to do theirs, who are waiting for me to give more evidence, etc. so much waiting!

    try occupying yourself with something more positive - get the floorplans and start measuring up for new furniture, shopping for paint etc, or new saving goals while you're waiting.

    we're doing a combination of saving up for a bit of a paint blitz when we move in, and I'm modelling the house from measurements, memory and photographs to plan ahead for what we're going to do with it in the long term - soon forget that you're waiting 10 days for some papers to arrive when you're mind is on other things.
     
    Last edited: Apr 11, 2014
  17. Firestar_3x

    Caporegime

    Joined: Mar 11, 2005

    Posts: 29,885

    Location: Leafy Cheshire

    Both are being done via the bank to try and speed things up....

    No chain at either end, Solicitors are fantastic and really quick, my mortgage advisor / broker is quite good, estate agents are ok, it's just Halifax are slow, they updated the system simply saying 'survey delayed', so my advisor phoned and questioned it. excuse was its hard to find someone to do it at the moment, hmm...

    My sister is purchasing a house at the same time and she got a survey done though Natwest in a week, and the town she is buying in is 7 miles up the road.

    had the agents on the phone today wondering what the progress is, everything is positive except Halifax and the survey, I’ve already instructed the solicitors to crack on with things, we've had all the land registry stuff back etc and the sellers signed forms for what’s included in the sale.

    Already planning out my cinema room etc and been looking for kitchens and bathroom suits, i just hate things being out of my control, i mean it's a simple sale, just get on with it ffs.
     
  18. noj

    Hitman

    Joined: Nov 10, 2011

    Posts: 615

    Location: Surrey

    I spoke to our buyers estate agent as they were booking the survey, they said the problem now is a lot of companies made surveyors redundant when the market dived and now don't have the staff to cope with demand so its taking a while to get through them.



    Have cleaned out the loft and got 1 shed left to sort this weekend. That's been quite a cathartic experience. So much stuff has gone to charity shops and the skip!

    The Mrs has been getting a load of removal firms round to quote - quite a difference in price! £2200 for the most expensive and £800 for the least. She's now looking for reviews of the firms to make sure the cheap ones aren't cowboy firms.
     
  19. Firestar_3x

    Caporegime

    Joined: Mar 11, 2005

    Posts: 29,885

    Location: Leafy Cheshire

    Yea, sounds like it could be the problem.

    Had an email from my Mortgage Advisor (MA) on friday stating the survey company are saying they can't get access to the property, hmm, when the owner is home all day and all have been pushing for a survey date.....

    Needless to say they are telling lies, MA gave Halifax a earbashing on friday and today, the survey company, Connells, state they will have an answer for us by tomorrow.

    With no chain on either end this purchase should be easy, or so i thought.
     
  20. fastwunz

    Mobster

    Joined: Jul 12, 2005

    Posts: 3,178

    That's a daft statement. The sooner it goes through the sooner the agent gets their fee