Am i going wrong anywhere

bretts

I spoke to a conveyancing solicitor before I had put an offer and I told him that I will use your services when and if the offer is accepted to which, well he definitely agreed, but he kept waiting first for offer to come through which took about two weeks and then the sale memo to come through which took further one week and now finally he took a week to send me all the docs that he needs me to sign and all. Coz its a bank holiday weekend the docs will only reach him on tuesday and before he gets everything signed he will not begin any work.
Is this the way all the solicitors work or is mine taking really long time to do anything.

Can anyone suggest me please as to once he has all my docs with him how long would a solicitor usually take to exchange the contracts as I have clearly explained him the situation that I could be gazumped any day and he still takes his own time to do anything. Its not one of those cheap online guys he was suggested by my friend but the guy who was dealing with her case was different and this guy is basically the senior most person in the conveyancing team

Any other things that I should push him to do asap as I am really in a mess with this solicitor.

Am i getting impatient unnecessarily or is my S really taking a p***

hazyjo

Why are you likely to be gazumped? It is possible to do it all quicker, but the average house sale/purchase does take 3 months, y'know!

Jx

bretts

EA told me he has higher offer on table but will go with my lower offer coz i am ftb and the other guy is in chain, but if he is able to get out of the chain, he could take it as his bid is higher than mine. I dont have problems if it takes time after exchange atleast we both will be legally binded to finish the deal as I have already spent so much on getting survey and all.

hazyjo

How can the other buyer get out of a chain, unless he's buying cash? He'd need to sell first to release the equity. It would take him months to buy the property you're trying to buy, and you've already started buying it. Why would the vendor want to drop you and then start again? Obviously he might offer more, but is it that likely that this 'other buyer' is selling his property with nowhere else to buy?

Nothing can 'take time after exchange' as all the conveyancing must be done before exchange, and the completion date fixed.

Chances are the EA is trying to scare you. Is the property showing as 'under offer' or 'sold subject to contract', or are they still inviting viewers? Get a friend to ring about some properties from RM fitting the description of the one you're buying and see if they offer a viewing, or if they say it's under offer.

Or speak with the vendor.

Chances are the other buyer doesn't exist, or is someone who's not even proceedable.

I wouldn't favour a FTB over someone in a chain - unless the chain wasn't complete, or was 5+ links long!

Jx

giddypenguin

If they are a local lawyer firm can you not drop in/collect documents from their office rather than waiting on postage?

bretts

The lawyers are not really local they are about an hour away from where i stay but was referred to me by somebody so decided to use them

I have got all the docs and sending it to them today but I will loose the whole bank holiday weekend with post sitting in the royal mail.
Do they normally want to see all the id proofs in original or is there a work around it.

bretts

hazyjo wrote: »

How can the other buyer get out of a chain, unless he's buying cash? He'd need to sell first to release the equity. It would take him months to buy the property you're trying to buy, and you've already started buying it. Why would the vendor want to drop you and then start again? Obviously he might offer more, but is it that likely that this 'other buyer' is selling his property with nowhere else to buy?

Nothing can 'take time after exchange' as all the conveyancing must be done before exchange, and the completion date fixed.

Chances are the EA is trying to scare you. Is the property showing as 'under offer' or 'sold subject to contract', or are they still inviting viewers? Get a friend to ring about some properties from RM fitting the description of the one you're buying and see if they offer a viewing, or if they say it's under offer.

Or speak with the vendor.

Chances are the other buyer doesn't exist, or is someone who's not even proceedable.

I wouldn't favour a FTB over someone in a chain - unless the chain wasn't complete, or was 5+ links long!

Jx

Inspite of me asking for like a month, the EA still has it on the website with no board of any type on it, neither sold stc nor under offer but I asked a friend to ask for the property and they said its sold.

Can you give me a rough idea as to how much time should exchange of contract take after I have sort of instructed them and pay them for searches and all.

hazyjo

It's not your decision if a board goes up. That's for the vendor to decide. I didn't have one at the house I just sold.

Usually around 2 weeks max between exchange and completion. I think 5 days is long enough (I just exchanged on a Wed and completed on the following Mon).

It takes an average of 12 weeks in total start to finish, so the exchange date, if having say a week between exchange and completion, would be around 11 weeks into the process.

I have done the whole thing, offer to completion, in 5 weeks before, but I was a FTB and there was no chain. Plus I exchanged and completed on the same day (can be very stressful, and I don't think a good idea if you're already a home owner/renter as you'll need to give notice, cancel utilities, sort out change of address, set things up at the new property, etc).

My last purchase took 11 weeks. My sale took 16 weeks. My sale and purchase before that (in 2011) took FIVE MONTHS (there were legal issues with the house/garages which needed resolving)!

Jx

jibbyboo

If you haven't paid your solicitor (too much) already, perhaps worth considering changing?

Or alternatively, politely call the current solicitor and state that you may have to consider moving to someone else as the property sale is in a fragile state, unless completion can occur within X amount of time (say 28 days now that they've got memoradum etc).

bretts

jibbyboo wrote: »

If you haven't paid your solicitor (too much) already, perhaps worth considering changing?

Or alternatively, politely call the current solicitor and state that you may have to consider moving to someone else as the property sale is in a fragile state, unless completion can occur within X amount of time (say 28 days now that they've got memoradum etc).

I cant change the solicitor at this point as otherwise a lot would have to be changed everywhere with the bank and EA and all that so its just a big hassle.

I told the solicitor about the fragile situation I am in terms of house sale that I could be gazumped anytime although I am not sure if that is going to happen but he said don't worry things are moving and we have already spoken to the seller solicitor but I am not sure if that is true, I can only trust what they say but they still have no sales contract from the seller solicitor.

I am stressing to him just try and exchange the contracts soon and completion date to me is not that much a priority as I am in the current property on rent and it does not expire till August.

I have made the payment on phone for the searches and spoke to solicitor too but he cant say how long it will take from now to exchange of contracts but any idea what is the usual time now after they have been instructed as I know that searches could take sometime and till then contracts cant be exchanged but just want to know a rough idea so I can push him if its taking longer than usual.

Thanks

hazyjo

As I already said, you can't exchange without a completion date. It's not left open-ended (unless buying a new build, or something agreed for other reasons - not common).

Have already answered your question about 'usual time'. How many weeks ago did you make your offer? I'm guessing only about two. If it takes the average time, you'll be in a position to exchange in around another 7-9 weeks. Yes, it can happen quicker.

Searches don't usually take as long as they used to. Can be days rather than weeks.

There will be a LOT more to do than just waiting for searches before contracts can be exchanged. EVERYTHING has to be tied up and finalised.

Jx