The wait is killing me!!

happyfriday74 · 12-07-2019 9:14am

Any truth to the view I heard that solicitors draw it out so that they accumulate interest on your money sitting in their account??

None. Solicitors are just slow.

ampleforth · 12-07-2019 1:38pm

seannash wrote: »

Any truth to the view I heard that solicitors draw it out so that they accumulate interest on your money sitting in their account??

Then they also delay their own bill (and you paying it), which is probably a lot higher than that scrap money may make on interest...

realmoonunit · 19-07-2019 1:41pm

We closed our own property (sale) in just over 8 weeks.

We have received contracts for new property today, waiting on loan pack from bank. we are now 2.5 weeks on that property. Hope we can close as quick on this one as we did on our sale.

ontheditch2 · 19-07-2019 5:40pm

7 months and counting since sale agreed

Uglysoik1 · 19-07-2019 7:37pm

ontheditch2 wrote: »

7 months and counting since sale agreed

Wow that's a long time - why is it taking that long if you don't mind me asking?

Sunrise_Sunset · 19-07-2019 10:17pm

ampleforth wrote: »

Then they also delay their own bill (and you paying it), which is probably a lot higher than that scrap money may make on interest...

Why do they delay their own bill?

Kenno90 · 21-07-2019 4:39pm

ontheditch2 wrote: »

7 months and counting since sale agreed

Ouch, thats tough. Any reason why.

I've just signed contracts and paid the deposit after 6 weeks. Its looking like i'll have the keys in about 4 weeks.

Nothing tends to happen in August. Everyone takes holidays which slows the whole process down .

MrPropertyGuru · 23-07-2019 2:05pm

<SNIP>

Uglysoik1 · 23-07-2019 2:33pm

MrPropertyGuru wrote: »

<SNIP>

When exactly do you get your receipt after paying the booking deposit? I paid mine last week after agreeing on a price with EA. Thanks!

MrPropertyGuru · 23-07-2019 2:45pm

Uglysoik1 wrote: »

When exactly do you get your receipt after paying the booking deposit? I paid mine last week after agreeing on a price with EA. Thanks!

You should always pay the booking deposit in cash and receive a receipt directly.

The reason is that if you change your mind about buying the house for good, bad or no reason, you are entitled to receive your deposit back.

Greetings

Andre

Graham · 23-07-2019 2:50pm

The deposit is usually refundable however you pay.

MrPropertyGuru · 23-07-2019 2:54pm

Graham wrote: »

The deposit is usually refundable however you pay.

Yes, of course, the emphasis was more on '' getting a receipt directly ''

It could be difficult to refund a booking deposit without a receipt.

Kenno90 · 23-07-2019 3:14pm

Uglysoik1 wrote: »

When exactly do you get your receipt after paying the booking deposit? I paid mine last week after agreeing on a price with EA. Thanks!

I had to email my EA to get it, after about 4-5 days. The usual "Oh i forgot to send it, silly me"

MrPropertyGuru · 23-07-2019 3:22pm

Kenno90 wrote: »

I had to email my EA to get it, after about 4-5 days. The usual "Oh i forgot to send it, silly me"

Can happen. We're all human!

Uglysoik1 · 23-07-2019 3:39pm

Kenno90 wrote: »

I had to email my EA to get it, after about 4-5 days. The usual "Oh i forgot to send it, silly me"

Guessed so - had to email him

:eek:

Uglysoik1 · 09-08-2019 3:55pm

Hi all,
How long does the average buying process take (for second hand houses).
Coming up to a month in sale agreed and the wait is totally killing me.
TY

Wildly Boaring · 09-08-2019 3:58pm

Now on week 11 of sale.
Purchaser to sign contracts early next week for close in 3 weeks time.

Holidays have not helped

Have you got contracts from vendor's solicitor. Have you done all you can, engineer, valuer, letter of offer for mortgage?

Star Lord · 09-08-2019 4:26pm

Uglysoik1 wrote: »

Hi all,
How long does the average buying process take (for second hand houses).
Coming up to a month in sale agreed and the wait is totally killing me.
TY

We went sale agreed in early-mid May. Contracts have been signed, but nothing is finalised as of yet, as they're still waiting for their chain to be completed before they return the sale contract to us.

It's a frustrating wait alright!

Corruptedmorals · 09-08-2019 4:44pm

Yeah it's a slow time of year for things to move, traditional legal annual leave season and the banks are a bit slower too. 3 months is still average.

We are coming up on 7 weeks sale agreed on Monday. Everything we could have done has been done but no contracts yet, Solicitor and estate agent are chasing the other side. The deeds are with a building society we are guessing from the land registry and they're not known for being quick to release paperwork. Not worrying and still trying to be patient just would love a September close. Still possible!

Sunrise_Sunset · 09-08-2019 4:50pm

We are 9 weeks sale agreed on property we're selling.
8 weeks sale agreed on property we're buying.
All contracts signed now. Due to close in a week and a half. Hoping the dates stay as the are and no delays.

SozBbz · 09-08-2019 4:54pm

We're about 7 weeks in and not made major progress.

We had an issue in that our survey uncovered something that required further investigation by specialists and then a slight renegotiation, so that whole thing probably took 3/4 weeks.

My solicitor has the formal mortgage offer from the bank and the contracts from the vendors solicitor, but no feedback beyond that yet.

Not expecting too much to happen in August with annual leave etc!

Kenno90 · 09-08-2019 10:12pm

I'm just passed the 8 week mark. Everything is done and dusted with a closing date of the 28th.

The vendors requested the closing date of the 28th as they need to clear the house and are going on holidays.

Fingers crossed there is no delays from that date. Whole process has been pretty straight forward. Im one of the lucky ones and when i created this thread my own impatience was the biggest problem

beertons · 10-08-2019 12:03am

Good man Kenno. Impatience is a killer. Jeez, I think it took me 6 months to close back in the day. We aged a bit faster.

Sunrise_Sunset · 10-08-2019 10:44am

It's getting a bit exciting at this point. Next week we'll be putting all of our things into storage and eagerly awaiting our closing day. Hoping all goes to plan, at least in and around closing day.

Uglysoik1 · 15-08-2019 4:33pm

Wildly Boaring wrote: »

Now on week 11 of sale.
Purchaser to sign contracts early next week for close in 3 weeks time.

Holidays have not helped

Have you got contracts from vendor's solicitor. Have you done all you can, engineer, valuer, letter of offer for mortgage?

Agree with you there. No, I haven't signed the contract yet but got everything else done.;)

realmoonunit · 15-08-2019 4:42pm

Bank had Qualification of title for over 2 weeks before they decided that they needed more information! Wasted time on this section is a real pain in the ass.

Corruptedmorals · 15-08-2019 6:29pm

7 weeks after sale agreed for the contracts and we can't sign for another 2 weeks as our solicitor is away. It'll be worth it in the end but buying a house in summer is such a pain. Hopefully the closing date is mid-end September as the sellers are not in a chain either and the house is fairly bare. So we will be bang on the 3 month mark most likely and that's with getting the survey, loan underwriting, valuation and insurances ready to go within the 4 week mark.

I don't think you should be allowed put your house on the market without deeds and any extra paperwork such as certification for extensions already retrieved.

fg1406 · 15-08-2019 7:18pm

Bought in 2017 and it was 8 months from sale agreed to signing contracts. Met with walls of silence from vendors solicitor. It was the most awfully stressful time. Completely unnecessarily so. If only we had been told by the vendors that they weren’t able to move until a certain date, we wouldn’t have ended up almost homeless and having nowhere to store our new furniture.

Kenno90 · 15-08-2019 8:34pm

beertons wrote: »

Good man Kenno. Impatience is a killer. Jeez, I think it took me 6 months to close back in the day. We aged a bit faster.

Ah beertons, my old Call of Duty pal

Look at how we've grown. Hope your keeping well man

NSAman · 15-08-2019 8:40pm

Purchased a property last year, complicated sales route involving banks that took two years. Once price agreed we closed in two weeks, cash sale.

We were organized and had everything ready, solicitor on the other side was not ..my solicitor is a personal friend who put serious pressure on.

Kenno90 · 16-08-2019 8:12am

NSAman wrote: »

Purchased a property last year, complicated sales route involving banks that took two years. Once price agreed we closed in two weeks, cash sale.

We were organized and had everything ready, solicitor on the other side was not ..my solicitor is a personal friend who put serious pressure on.

ok you win, 2 years, i'd have given up and looked at other properties

NSAman · 17-08-2019 7:01am

Kenno90 wrote: »

ok you win, 2 years, i'd have given up and looked at other properties

It’s what I wanted, I was willing to wait, for me it was worth the wait. I was also not purchasing a main home to live in, its slightly different in that sense, time made no difference.

Evd-Burner · 24-08-2019 4:24pm

We were supposed to close yesterday but our solicitor only submitted the cheque requisition form on Wednesday and the bank still haven't released the funds. The funds are to be electronically transferred.

Does anybody with experience know how long those funds will take to arrive in my solicitors account once released? Assuming they are different banks.

Also then once released and our solicitors send the money to the vendors solicitors do we have to wait until the vendor receives confirmation that they have the money until we get the keys or how does it work?

sp00k · 24-08-2019 5:12pm

I'm almost 4 months from sale agreed now, some easement issue with the land registry has been holding everything up for 2 months, neither side can do anything till this is resolved by the land registry whom have been totally silent as far as I'm aware. The lack of communication is the worst part about it.

Kenno90 · 24-08-2019 6:32pm

Evd-Burner wrote: »

We were supposed to close yesterday but our solicitor only submitted the cheque requisition form on Wednesday and the bank still haven't released the funds. The funds are to be electronically transferred.

Does anybody with experience know how long those funds will take to arrive in my solicitors account once released? Assuming they are different banks.

Also then once released and our solicitors send the money to the vendors solicitors do we have to wait until the vendor receives confirmation that they have the money until we get the keys or how does it work?

It depends on the bank, AIB have been known to do it 2-3 days, possibly taking a little bit longer.

My solicitor applied for the funds to be released weeks ago, and they lost the request. Luckily we are not closing till this wednesday so there still should be plenty of time to get it by then.

Yes the vendor solicitor needs to confirm to the sellers they have the money. Why would they hand over the keys if their solicitor didnt have the money? Take could take another day to appear in their account.

Evd-Burner · 25-08-2019 12:10am

Kenno90 wrote: »

It depends on the bank, AIB have been known to do it 2-3 days, possibly taking a little bit longer.

My solicitor applied for the funds to be released weeks ago, and they lost the request. Luckily we are not closing till this wednesday so there still should be plenty of time to get it by then.

Yes the vendor solicitor needs to confirm to the sellers they have the money. Why would they hand over the keys if their solicitor didnt have the money? Take could take another day to appear in their account.

Yeah that's what I was thinking re the vendors solicitors but I was hoping otherwise. I'm hoping the vendors solicitors is AIB as my solicitor is so it would be instant.

Probably be Wednesday or even Thursday at this stage.

Weepsie · 25-08-2019 12:17am

We went sale agreed early April.

Vacant house (owner deceased, being sold by family) so hoped it would be straightforward. Trundled along until late June and then it just seemed to stop dead.

KBC seem to take weeks to reply to the simplest of questions and used the wrong address to contact our solicitor at one point. The sellers were asking us in May if they could clear out, then July, then end of August.

We're hoping it's all done this week, but the house needs work and we lost the chance to do stuff over summer for reasons we can't fathom. Delays for the sale of delays.

Won't be doing it again I hope

Kenno90 · 28-08-2019 2:27pm

Sale Closed today, I cant believe i was complaining about lack of progress after 1 month sale agreed.

All in all it took 11 weeks from sale agreed to closing. I think im one of the lucky ones.

Sunrise_Sunset · 28-08-2019 3:41pm

We got our keys today too!!
11 weeks after going sale agreed.
The relief!

lucast2007us · 28-08-2019 3:44pm

Got our keys on Friday after 8 months

Evd-Burner · 28-08-2019 5:28pm

We are still waiting for the bank to release funds. We were supposed to close last Friday but looks like it will be this Friday!

SozBbz · 28-08-2019 9:01pm

Spoke to my solicitor today and we're nearly thought the contracts phase and he asked us to name a date for signing.

Still working on the various insurance docs etc with our broker (mortgage protection, house, contents) and the house element is a bit more challenging as the house is 100+. I've asked him to go and find more options. If anyone has any suggestions in this regard I'd be happy to get a PM, as our broker is a tied agent of a particular company for insurance so I want to check against whatever he brings back.

Obviously the bank won't release the funds until all of the above is in place.... typically how soon have people been exchanging after signing contracts? I'm a bit nervous about signing anything until I fully know the score on all of the above.

The vendor has agreed to the insertion of the clause making the contract subject to compliance with the Loan Offer so I presume its not that big a deal to sign whilst we're still working on the various insurance policies as they are part of the loan compliance.

Wildly Boaring · 28-08-2019 10:30pm

Ugh
14 weeks since sale agreed
Our purchase is still dragging their ass.
Not signed contact yet and nothing from them in a week.
Last contact was them proposing a closing date. And nothing since.

realmoonunit · 29-08-2019 10:25am

Our vendors have added an extra month to their closing date. We are our of our rental in 4 days! Stepping into the great unknown is not a great way to go IMO.

Phileas Frog · 29-08-2019 11:34am

9 weeks in - including 2 weeks when both solicitor and developer were on holiday - contracts signed by both sides and HTB claimed. Just waiting on a date for snagging now. Insurances are in place so hopefully not too much longer.

flamingopark · 29-08-2019 1:12pm

We're 9 weeks in at the moment, our solicitors were on hols the first 2 weeks. We have all contracts signed but just waiting on one letter from the council to advise the estate has been taken over from them before we can draw down funds from the bank. We're waiting 2 weeks for that now so we're thinking the vendors solicitors might be on holidays, hoping it will be in the next week and we will have the keys soon. It's a frustrating waiting game!

Corruptedmorals · 29-08-2019 6:18pm

Contracts signed...but not sent. 9 weeks and we have a boundary issue. Gutted. Could add months and we were set to close in 2 weeks.

Evd-Burner · 30-08-2019 12:50am

Funds finally transferred and we got the keys today. Now to start the mammoth task of moving in

Star Lord · 30-08-2019 10:22am

Congrats!

We've the signed contracts, but have not got a closing date yet... Which is frustrating! Especially as we've already had to give notice on our current rental, so the clock is ticking... :eek:

flamingopark · 30-08-2019 11:45am

Congrats

We heard back from the vendors solicitors today and they have apparently sent on the letter so hoping there will be some movement in the next few days.

Evd-Burner wrote: »

Funds finally transferred and we got the keys today. Now to start the mammoth task of moving in

The wait is killing me!!

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