Tip of Exchanging Contracts ... UPDATE .. how late in the day ???

spirit

I would say that it's highly unlikely that you will complete on Friday. You may exchange i guess if all other paperwork is in and signed.

I'd be on the phone to the solicitor (bomb up the backside smiley)

azkaban420

PottyHouse I feel for you, we're waiting to exchange any day (have been for the past 3 weeks) and we're meant to complete before September, but as each day goes past, I despair even more....it's so hard to concentrate on anything, when all I want to do is to exchange and have the reassurance that at least it's sort of concrete.

Anyway, I suggest you get your OH to call your sols again from now on, and just keep the pressure on to exchange asap, and complete accordingly. You'll have to resign to the fact that it may be delayed a bit, but don't let them become complacent, as they work for you, not the other way round.

Good luck...

Az

Bananamana

PottyHouse wrote: »

So for the past 6 weeks Buyer's solicitor saying Friday 13th August achievable (but no guarantee which is fine) his money was ordered 'yesterday'? and we were advised this could take 5 days - Tuesday today Day 1, Weds Day 2, Thurs Day 3, Fri Day 4 .... Saturday Day 5 - I'm not a legal expert but I can count !!!!

So here we are still .... waiting for monies to come through with no guarantee anything is going to happen Friday ... exchange or completion.

Can anyone advise if exchange and completion were possible by this Friday we would know by THURSDAY 12th August at the latest ???? or is it a case of we wake up Friday and we know whether we can move or not ?????

I daren't ask my Solicitor she won't commit to anything at the moment !!!!

a sensible solicitor will ask for the money to be there before completion.

So yes they should know thursday if they're being smart...

Whose the lender? Most say 5 days but some are usually better than that.

PottyHouse_2

azkaban420 wrote: »

PottyHouse I feel for you, we're waiting to exchange any day (have been for the past 3 weeks) and we're meant to complete before September, but as each day goes past, I despair even more....it's so hard to concentrate on anything, when all I want to do is to exchange and have the reassurance that at least it's sort of concrete.

Anyway, I suggest you get your OH to call your sols again from now on, and just keep the pressure on to exchange asap, and complete accordingly. You'll have to resign to the fact that it may be delayed a bit, but don't let them become complacent, as they work for you, not the other way round.

Good luck...

Az

Hi Azkaban,

Thanks for your support - you have my sympathy too .... life is hell at the moment ..... we have got up today shattered mentally and physically and now planning where to go out for the day on Friday !!!!!

Our IFA has been fab and chasing and said yesterday "it is still possible" !!!! bless him - thought yesterday its 50/50% that it happens but today I am 90/10% its not !!!

Anyway, will wait for our 3pm call from solicitor to see where they are up to - ha ha ha!!!

Thanks again

PottyHouse_2

Bananamana wrote: »

a sensible solicitor will ask for the money to be there before completion.

So yes they should know thursday if they're being smart...

Whose the lender? Most say 5 days but some are usually better than that.

I agree !!!

As far as I know the lender is Natwest Bank and deposit through The Mortgage Works ??? (never heard of them but no need to).

Our IFA has got onto his Broker and asked for release of funds asap - not sure if that will speed anything / one up but worth a try !!!

kmmr

The mortgage works is a subsidiary of Nationwide. Just as an aside!

Richard_Webster

...the lender is Natwest Bank...

Nat West Homeloans want 7 working days to release funds and in recent months whenever we have tried to lean on them to tell whether the money is coming or to get it to us more quickly they have stonewalled and told us we will have to wait.

HSBC's papers now tell solicitors they want 10 working days for release of funds!

PottyHouse_2

Thanks all,

We didnt get our 3pm call today from Solicitor - she is off sick !!!!!! ..... speechless ............ (OH spoke to her Secretary, she is not aware of our case as apparently Solicitor does all the work herself (ha ha) ).

So as per daily chase from our IFA - as far as we are aware, our Buyer's solicitor are just awaiting confirmation that funds will be available for Friday.

We will know (we hope) eitherway by lunchtime tomorrow if we are to move or not to move on Friday 13th August.

Our week (as have the last 18 months or so) has been hell and this whole procedure seems so cruel and not helped by certain "professionals" that we presumed are there to help things along ?????

kmmr

Keep calm, it a week or so this will be behind you! Take a deep breath and have a big glass of wine...

Solicitors can be deeply frustrating, and it's very hard to avoid the temptation of calling them 5 times a day when you feel out of the loop. Just keep it civil, but keep the pressure up.

The first time I bought a house, I called my solicitor numerous times, and wrote about 10 emails with lots of detailed questions, which the solicitor patiently and comprehensively answered for me. Made me so comfortable that the next time I just trusted he was moving things on without me needing to press him. But I know that not all of them are like that!

Anyway, best of luck. Let us know how it goes.

tiggerjj

Crikey, just reading this, makes me realise how lucky i was!! I left the country the day after the offer was accepted and the day after i applied for the mortgage, I returned 9weeks later and had completed and owned a house!! I did the whole thing by email. But i was lucky as my sol is basically my second mum.

I really hope everything goes ok for friday and it doesnt need to be this hard! Its such a shame the hassel u have had to go through when i can be really easy (my purchase has problems, but they were dealt with so well my stress levels remained in control.

Best of luck...

Tigger