Why can't solicitors do things simultaneously ?

izoomzoom

Argh !

We signed contracts ages ago, but things got delayed because the HA needed to approve our mortgage.

That finally happened last Tues / Wed, so we were ready to go (to exchange). Friday we were informed that we were waiting for vendors side, and yesterday we get told that the vendor is now finding out from his lender whether the offer (sale price) is sufficient to over his mortgage.

Is it just me, or what, but for goodness sakes why couldn't the vendor's solicitor have done this weeks (or even months) ago ????

We are soooo nervous. We want to move next Wednesday and are so stressed out. The house looks like a tip with boxes everywhere and we don't even know for sure that we are going to move.

And to top everything off, our solicitor is away for a couple of days. We have to deal with his assistant, who is fantastic but ..... it just adds to the worry.

Robert_Sterling

Calm down ...

lewt

Why can't solicitors do things simultaneously ?

does the hourly rate have anthing to do with it?

a man stood at a bar and shouted all layers are !!!!!! another man says "i resent that" man1 says "why are the a lawyer?" man2 says "no im a !!!!!!"

izoomzoom

I have been absolutely dreading this but I phoned the schools and they have places for my children. Thank goodness !!!

I called months ago and was told all sorts of different stories that I vowed I wouldn't call until we exchanged.

So one less thing to worry about.

youngie

deep breaths it will come together we recently bought a house had to give months notice on rented place then had a hiccup with the vendors solicitor didn't know till last minute if we were moving on the arranged day all came right in the end.I think solicitors do this so we think they are working hard for the money they charge.

good luck

rjm2k1

izoomzoom wrote:

Argh !

We signed contracts ages ago, but things got delayed because the HA needed to approve our mortgage.

That finally happened last Tues / Wed, so we were ready to go (to exchange). Friday we were informed that we were waiting for vendors side, and yesterday we get told that the vendor is now finding out from his lender whether the offer (sale price) is sufficient to over his mortgage.

Is it just me, or what, but for goodness sakes why couldn't the vendor's solicitor have done this weeks (or even months) ago ????

We are soooo nervous. We want to move next Wednesday and are so stressed out. The house looks like a tip with boxes everywhere and we don't even know for sure that we are going to move.

And to top everything off, our solicitor is away for a couple of days. We have to deal with his assistant, who is fantastic but ..... it just adds to the worry.

Similar thing happened to my sister, I looked on the Land Registry site when they put an offer in and discovered a second charge on the property. Nearly three months later, the vendor discovered there wasn't enough equity in the property to cover the charge, so my sister ended up pulling out losing the cost of the survey. I couldn't believe that it took 3 months for the vendors (and my sisters) soliciter to discover such an obvious problem. Was a blessing in disguise though as they found a much much nicer place for around the same money soon after.

izoomzoom

rjm2k1 wrote:

Similar thing happened to my sister, I looked on the Land Registry site when they put an offer in and discovered a second charge on the property. Nearly three months later, the vendor discovered there wasn't enough equity in the property to cover the charge, so my sister ended up pulling out losing the cost of the survey. I couldn't believe that it took 3 months for the vendors (and my sisters) soliciter to discover such an obvious problem. Was a blessing in disguise though as they found a much much nicer place for around the same money soon after.

Don't tell me that ... I don't think I can bear any more stress.

Can you tell me the land registery web site link ?

GhostDog_2

Big hugs IZZ!

I've been chasing the surveyor's backside as he was meant to complete our survey last Thursday but apparently didn't realise he had to drive to the HA offices to collect the keys and therefore didn't complete our survey as he had others booked!!! :eek: Now who could be more important than us right now..??!!!

Mortgage broker has been fantastic - big thumbs up to their Client Liaison Officer :A who kicked butt and has discovered that the survey was completed yesterday.....Surveyor's report is in....now waiting formal mortgage offer and hopeful this will be early next week! :T

Fingers crossed solicitor can put everything in order for us to exchange & complete the following week and hey-ho we'll be almost new home and dry! :rotfl:

lynzpower

:eek: Its just so stressful isnt it Izoomzoom

you have my sympathies, Ive nothing to offer excelt my support :T

izoomzoom

Well you managed to put a smile on my face, fellow SOwners !!

MegS

Until the solicitor has a date for completion he cannot ask for a redemption statement from the lender. Some lenders charge for redemption statements so the vendor will not want to pay for one until necessary. The vendor must surely have an idea of what he owes to the bank (surely he knows how much he borrowed?) in which case he must surely have known this when he started the transaction?. We ask for a redemption statement everytime we request the title deeds and never get one. Most lenders will only provide a redemption statement a couple of weeks in advance (a month at most) of a specific date given. You must remember that solicitors only have knowledge of certain things from what their clients tell them. They are not mind readers and his solicitor will not have known how much is owing until either the vendor tells him (roughly) or he gets the redemption statement. If his client chose not to tell him (and I don't believe he didn't know roughly how much he borrowed on his mortgage) then the solicitor will only have known when he requested the redemption statement once a completion date was known.