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  • FIRST POST
    • Cw222
    • By Cw222 8th Jul 17, 8:19 AM
    • 4Posts
    • 0Thanks
    Cw222
    Farscical
    • #1
    • 8th Jul 17, 8:19 AM
    Farscical 8th Jul 17 at 8:19 AM
    Hi all

    Any advice appreciated.

    My completition date was agreed last week to be Thursday just gone
Page 1
    • karcher
    • By karcher 8th Jul 17, 8:21 AM
    • 1,396 Posts
    • 11,717 Thanks
    karcher
    • #2
    • 8th Jul 17, 8:21 AM
    • #2
    • 8th Jul 17, 8:21 AM
    Advice about what?
    • Bossypants
    • By Bossypants 8th Jul 17, 8:34 AM
    • 508 Posts
    • 998 Thanks
    Bossypants
    • #3
    • 8th Jul 17, 8:34 AM
    • #3
    • 8th Jul 17, 8:34 AM
    Have you exchanged?
    • agrinnall
    • By agrinnall 8th Jul 17, 8:38 AM
    • 18,543 Posts
    • 14,270 Thanks
    agrinnall
    • #4
    • 8th Jul 17, 8:38 AM
    • #4
    • 8th Jul 17, 8:38 AM
    My advice is that the correct spelling of the word in your title is (probably) "farcical".
    • Thrugelmir
    • By Thrugelmir 8th Jul 17, 8:46 AM
    • 55,869 Posts
    • 49,239 Thanks
    Thrugelmir
    • #5
    • 8th Jul 17, 8:46 AM
    • #5
    • 8th Jul 17, 8:46 AM
    My completition date was agreed last week to be Thursday just gone
    Originally posted by Cw222
    When was it agreed.
    "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett
    • Cw222
    • By Cw222 8th Jul 17, 8:50 AM
    • 4 Posts
    • 0 Thanks
    Cw222
    • #6
    • 8th Jul 17, 8:50 AM
    • #6
    • 8th Jul 17, 8:50 AM
    This was agreed by all 3 solicitors in the chain, I am in the middle.
    My solicitor called me on Monday to get my approval to exchange contracts which I gave, heard nothing back so called Tuesday to be told it'd not been done but would be done that day. To cut a long story this went on through Monday, Tuesday and Wednesday.... she told me not to worry and it'd just be done Thursday just before completion.

    I get up Thursday morning to pack the entire contents of my apartment (that had been gradually packed up over the last week) with my mum, step dad, dad and boyfriend who had all taken 2 days annual leave to help. The van I have hired arrives and we fill it. This is done by 11am and we're ready to go.
    I then get an email forwarded to me by the lady purchasing my apartment to say there's a hold up but both her and her solicitor are on it. This continues until 3.15 - talk of it been sorted, not been sorted, no problem, a problem with a completion statement.... my solicitor at 3.30 says it's not going to happen today.

    I have to ring the van rental company to keep (and pay) for the rental van for an extra day. The 3 vans containing all of my belongings are then parked on my dads drive and I hope no one steals them as they contain everything I own and I stay at my mums for the night.

    I get up yesterday morning to be told yesterday's issue is resolved and we are just waiting for Barclays to release the funds. In short this continues until 11 when Barclays banking system goes down, it is down for around an hour but the funds still are not realised. Barclays tell my buyer they are no more of a priority despite the farce of the day before and we wait, and wait and wait until at 3pm they are advised the money has been sent but can see it. My solicitor rings to say time has ran out, no move, my money has to be sent back to virgin as she's had it longer than she should have and it will take 5 days to re-request.

    The advice I'm looking for is can I hold anyone accountable for this? My solicitor hadn't exchanged contracts, why? The other my buyers solicitors weren't ready but agreed to the completion anyway, why? Barclays didn't send the money for 2 days, how is this possible

    I seem to be the only one to be losing out here... 5 people took 2 days off work, I've paid for 2 days van hire to simply load and unload. I now have to live with ever thing minus the basics for a week and the stress of the past 2 days WOW - I have never paced around or cried so much
    • Cw222
    • By Cw222 8th Jul 17, 8:51 AM
    • 4 Posts
    • 0 Thanks
    Cw222
    • #7
    • 8th Jul 17, 8:51 AM
    • #7
    • 8th Jul 17, 8:51 AM
    please do not reply to my thread again
    • Cw222
    • By Cw222 8th Jul 17, 8:53 AM
    • 4 Posts
    • 0 Thanks
    Cw222
    • #8
    • 8th Jul 17, 8:53 AM
    • #8
    • 8th Jul 17, 8:53 AM
    Please do not reply to my thread again agrinnall. You're response was in no way helpful
    • LKRDN_Morgan
    • By LKRDN_Morgan 8th Jul 17, 9:01 AM
    • 273 Posts
    • 817 Thanks
    LKRDN_Morgan
    • #9
    • 8th Jul 17, 9:01 AM
    • #9
    • 8th Jul 17, 9:01 AM
    so you packed up and practically moved out without first confirming exchange had actually taken place?
    • Thrugelmir
    • By Thrugelmir 8th Jul 17, 9:22 AM
    • 55,869 Posts
    • 49,239 Thanks
    Thrugelmir
    This was agreed by all 3 solicitors in the chain, I am in the middle.
    My solicitor called me on Monday to get my approval to exchange contracts which I gave, heard nothing back so called Tuesday to be told it'd not been done but would be done that day. To cut a long story this went on through Monday, Tuesday and Wednesday.... she told me not to worry and it'd just be done Thursday just before completion.
    Originally posted by Cw222
    That's why it's best to set the completion date on exchange of contracts not before. Allows all parties a window to confirm removal arrangements etc.

    The solicitors may have agreed to try and achieve that particular date on behalf of their respective clients. There was never any guarantee that it was possible. No one is accountable either. Things happen that are outside of everyone's control. The fact that exchange didn't happen was a clear warning that matters might well get delayed.
    "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett
    • Doozergirl
    • By Doozergirl 8th Jul 17, 9:30 AM
    • 23,965 Posts
    • 66,528 Thanks
    Doozergirl
    Exchange and completion on the same day is incredibly risky for this reason. I only do it if I don't live in, or need to move into, the property. Otherwise we all need decent notice to confirm removals.

    You have as much say in the decision to exchange and complete as anyone. The risk was yours.

    Going forward, I suggest you await exchange and agree for completion to happen on a separate day.
    Everything that is supposed to be in heaven is already here on earth.
    • G_M
    • By G_M 8th Jul 17, 10:21 AM
    • 41,917 Posts
    • 48,510 Thanks
    G_M
    The first few posts were totally justified as you provided no background, and missed vital information.

    You also did not specify what kind of advice you were seeking. So constructive responses were inevitably impossible at that stage.

    You had not Exchanged, therefore there was always uncertainty about Completion. The Completion date was not legally 'agreed'. It is only legally agreed when Exchange takes place.

    The sensible thing to have done when Exchange was delayed (as often happens for any number of reasons) was to renegotiate a later Completion date.

    If you had instructed your solicitor, for example, that you wanted a 1 week gap (or 2 or 3.....) between Exchange and Completion, then whenever Exchange happened, you'd then have had time to plan.

    But that is advice for next time.......

    Oh, and telling posters not to reply again never works. People are free to comment when and how they wish.
    Last edited by G_M; 08-07-2017 at 10:24 AM.
    • AnotherJoe
    • By AnotherJoe 8th Jul 17, 10:28 AM
    • 7,585 Posts
    • 8,186 Thanks
    AnotherJoe
    I do think OPs solicitor was at fault for not explaining to a FTBer the inherent risk in this, and should instead have advised that a new completion date should be agreed, prior to exchange, with a decent duration between the two, say 1-2 weeks

    Now OP is better advised on the safer option, and the correct spelling of farcical , the odds of this happening again are much lower ... but not zero..
    • Thrugelmir
    • By Thrugelmir 8th Jul 17, 11:18 AM
    • 55,869 Posts
    • 49,239 Thanks
    Thrugelmir
    I do think OPs solicitor was at fault for not explaining to a FTBer the inherent risk in this,
    Originally posted by AnotherJoe
    Solicitor isn't responsible for their clients actions though. Simply works on the instructions given. Completion dates before exchange are clearly not set in stone. This would have said to their client at some point in the process.
    "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett
    • AdrianC
    • By AdrianC 8th Jul 17, 11:59 AM
    • 15,451 Posts
    • 13,773 Thanks
    AdrianC
    If you had instructed your solicitor, for example, that you wanted a 1 week gap (or 2 or 3.....) between Exchange and Completion, then whenever Exchange happened, you'd then have had time to plan.
    Originally posted by G_M
    In a chain, of course, such an instruction is really only an expression of preference, to be passed up and down the chain. The others may agree, and it'll be so - or they may not, in which case there's a compromise going to be needed else the chain could fall apart.

    In this case, it sounds as if the bottom of the chain simply weren't ready to exchange, for whatever reason.
    • G_M
    • By G_M 8th Jul 17, 4:23 PM
    • 41,917 Posts
    • 48,510 Thanks
    G_M
    In a chain, of course, such an instruction is really only an expression of preference, to be passed up and down the chain. The others may agree, and it'll be so - or they may not, .
    Originally posted by AdrianC
    Indeed.

    But in this case it appears the OP's solicitor was working on the instruction from the OP to Complete on X date. So when Exchange slipped, the solicitor continued to work toward X date for lack of any other instruction.

    Or OP may in fact have re-iterated his desire to Complete on X date resulting in the ever-decreasing gap between Exhange/Completion, and, ultimately, the failure to hit the date at all.
    • AdrianC
    • By AdrianC 8th Jul 17, 4:25 PM
    • 15,451 Posts
    • 13,773 Thanks
    AdrianC
    Or everybody in the chain was still pushing for completion on that date, and the exchange slippage was just trying to work with that, despite some numpt not having finished the paperwork...
    • Thrugelmir
    • By Thrugelmir 8th Jul 17, 5:21 PM
    • 55,869 Posts
    • 49,239 Thanks
    Thrugelmir
    Or everybody in the chain was still pushing for completion on that date, and the exchange slippage was just trying to work with that, despite some numpt not having finished the paperwork...
    Originally posted by AdrianC
    Or someone not getting the cleared/vetted funds into place in time.

    We've all been there before ourselves in the past. Waiting for everything to drop into place. There's inevitably someone in the chain that threatens to pull out. If matters drag on. Stressful time. We all vow never to do move again. Yet we do. C'est la vie.
    Last edited by Thrugelmir; 08-07-2017 at 5:25 PM.
    "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett
    • Lazarus Blackstar
    • By Lazarus Blackstar 8th Jul 17, 11:06 PM
    • 129 Posts
    • 260 Thanks
    Lazarus Blackstar
    Please do not reply to my thread again agrinnall. You're response was in no way helpful
    Originally posted by Cw222
    It's a public forum so ANYONE can reply however many times they want.........
    "The truth is of course is that there is no journey.
    We are arriving and departing all at the same time."

    • Riggyman
    • By Riggyman 9th Jul 17, 12:28 AM
    • 166 Posts
    • 152 Thanks
    Riggyman
    Cockwombles
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