Nearing exchange - what happens with a chain?

goldbyron

I am finally edging nearer to exchange after 4 long months. Apparently everyone will be ready by early next week. However the bottom of the chain is on holiday until next Friday and she has not agreed the new completion date. I am hoping that she will get in touch on Friday or at worst on the 14th of August. The bottom has her deposit with the solicitor and has signed contracts.

Once she gets back and if she is okay with the date how does the chain know when to exchange. There are four transactions and six solicitors (it splits into two as my ex has her own one). Does the top filter down to the bottom and then they exchange as soon as the bottom okays it?

Also does your solicitor actually have to speak to you just before they exchange or if you have given them instructions a few days previously do they just go ahead anyway?

Fingers crossed very tightly this happens within the next 2 weeks before I have a nervous breakdown!

silvercar

There is a set rpocedure wherebyt he top of the chain gives the Ok for exchange to take place that day and that info then feeds down the chain to the bottom; at which point it feeds back up to the top and exchange has happened.

If a solicitor has absolute instructions from a client they can exchange in their absence, if they have to confirm anything like a completion date they will need to speak to them.

terrierlady

think of a deck of cards and say a prayer, the above poster said it all but without the FTByr at the bottom the chain usually breaks.
We have had many times where the FTByrs get scared and withdraw but this looks firm, money is place contract signed so good luck.

goldbyron

I know I am scared of her just not agreeing to the completion date. She is expecting to come back off holiday and it is done and she is completing on the 18th of August!

However as the deposit has been there for 2 weeks now and she was pushing before she went on holiday I am hoping this means she is keen and won't pull the chain!