How long to wait for chain....

sandraslice

We are in a chain where the top three people (of a four chain) have all signed their contracts last Wednesday. The bottom of the chain has a solicitor, lets be polite, she is slow and arrogant. All the paperwork is in but apparently now their contracts have gone to a supervisor for approval before being sent out. No confirmation as to when they will be sent out.

Buyers at the bottom are shall we say, very laid back, saying it will go through as and when its all supposed to..

The rest of us need to move next week, therefore need to exchange by the end of this week and they are aware of this..

Their solicitor will not communicate with any of our solicitors, and will not return calls.

I am thinking of giving them to close of play tomorrow evening to confirm that the contracts have at least been posted out..

Do you think this is fair..Would you have alarm bells ringing the same as me...

carlsberggal

I think I'm correct in saying that solicitors can only contact the one directly bellow or above in the chain. If it's a longish chain it can be a nightmare. You don't have to exchange this week, though it would make everyone relax more as you can even exchange and complete on the same day

silvercar

Put pressure on the buyer with the weak solicitor. Get the buyer to understand the urgency then he/ she can pressurise the solicitor. I have generally found that a slow moving solicitor has been instructed to go slowly for a reason (often finances not in place).

sandraslice

Thanks for reply.. There are only four people and three houses in the chain, as the top and the bottom of the chain are currently rented.. I have heard that we can exchange and complete on the same day, but i am reluctant to pack until i hear some confirmation regarding contracts...So this leaves us with a short timescale. Its so annoying that all the paperwork is now in, and the only thing holding it up is the slowness of the solicitor..

It gets to a stage where you cant do anymore.. And how frustrating is that...

The agents are trying to put pressure on the buyer, but they are too laid back, or ignorant, as i like to think, not caring about the rest of us.. you are thinking the same as me reagrding deposits etc, as thats why i have my alarm, bells ringing...

carlsberggal

Solicitor should be able to clarify that the bottom of the chain has their mortgage offer and if they have made provision for the deposit to be paid. It does get very frustrating, but solicitors are very 'old school' where they don't tend to tell one another to get their act together!
When I last moved we had 4 in the chain, all 4 of us were packed and outside each others houses waiting for the call to say we had completed (this was friday afternoon) when we all got a call to say the bottom of the chains solicitor had sent the money off too late and the banks had closed for business until Monday!! Nearly pushed me over the edge. Anyway, he ended up sending confirmation fax to the other 3 solicitors to say money was in the ether and would land Monday morning so please release the keys and they did.
Sorry I can't be of more help

sandraslice

Everyone has had their mortgage offers in, and apparently i have just been told that the deposit isn't a problem. Our agent has just called and said the bottom solicitor is just not playing ball and will not be pushed. The buyer is saying its up to the solicitor, i am not getting involved, thats what i pay them for !!

Regardless of the fact that the rest of us are all waiting..

Not sure whether to start giving deadlines of Monday next week to exchange or whether this will not be a good move, what do you think,, what would you do...

silvercar

Only give deadlines that you are prepared to keep to.

sandraslice

Thanks for replies, have just had a glass of the old wine and am now more chilled,,, I think i will try and forget about it all til Friday and then go looking for an update.. If by then things haven't moved on, ie contracts being posted,, then a decision can be made...And now back to that bottle...!