Best way to approach an exchange date

pearson27

if i have a preferred completion date of 2nd august should i tell my solicitor next week or tell them now and risk really pi**ing them off

hazyjo

I'd just wait for the call to discuss dates. Unless you are very restricted on things like time off work, or holidays booked, etc, it's probably not worth aiming for anything until everything is sorted.

Jx

pearson27

yeah mayebe your right thanks

moneyistooshorttomention

hazyjo wrote: »

I'd just wait for the call to discuss dates. Unless you are very restricted on things like time off work, or holidays booked, etc, it's probably not worth aiming for anything until everything is sorted.

Jx

...particularly as someone else in the chain is quite possibly the person holding the Decision-Making Powers on that point anyway and it's just down to everyone else in the chain to agree.

You seem to be the first time buyer in a chain (that goes you to your vendor to your vendors purchase), so it likely wont be you that has that "date deciding power" anyway and your options will boil down to agreeing your preferred date out of a choice of several your vendor gives you.

In a chain like your particular one (ie 3 links in it) then the person in the middle is probably the Decider on Dates. I'm the middle person in a 3 link chain myself and I am the Decider in this one...so there's a good chance its the "middle link person" that is the Decider in yours.

pearson27

yeah good advice

luckily our Ea has spoken to the vendor who is aware how quick we want to be in and has been more than accommodating. she will be pushing her solicitor too.

just seems to be in reach one minute than looking like an endless wait at times

just get fed up dont you

ValHaller

moneyistooshorttomention wrote: »

...particularly as someone else in the chain is quite possibly the person holding the Decision-Making Powers on that point anyway and it's just down to everyone else in the chain to agree.

You seem to be the first time buyer in a chain (that goes you to your vendor to your vendors purchase), so it likely wont be you that has that "date deciding power" anyway and your options will boil down to agreeing your preferred date out of a choice of several your vendor gives you.

In a chain like your particular one (ie 3 links in it) then the person in the middle is probably the Decider on Dates. I'm the middle person in a 3 link chain myself and I am the Decider in this one...so there's a good chance its the "middle link person" that is the Decider in yours.

While I agree with this in part, in actual fact, anyone in a chain can take on the role of decider, by deciding not to when anyone else decides to exchange. If they knock everyone back, then they are very likely to get their choice of date thereafter unless one of the others pulls out.

The FTB in rented accommodation has a problem that none else in the chain will have - they risk nearly 2 months of overlap with badly timed exchange and completion. The FTB should make their needs in respect of notice and rent very clear and be prepared to dig their heels in to an extent.

pearson27

yeah

stuck between a rock and a hard place it seems

moneyistooshorttomention

ValHaller wrote: »

While I agree with this in part, in actual fact, anyone in a chain can take on the role of decider, by deciding not to when anyone else decides to exchange. If they knock everyone back, then they are very likely to get their choice of date thereafter unless one of the others pulls out.

The FTB in rented accommodation has a problem that none else in the chain will have - they risk nearly 2 months of overlap with badly timed exchange and completion. The FTB should make their needs in respect of notice and rent very clear and be prepared to dig their heels in to an extent.

But then the FTB'er only has one transaction. Everyone else in the chain (apart from the person at the top of it) has two transactions to deal with. So we all get to be FTB'er in a chain on our first purchase and have to go along with everyone else's dates and I had to "serve my turn" myself at being the FTB'er when I bought my current house and was told what date it would be and I wasn't even given a choice of dates in fact...it was "that's the date and that's it" and I had to work to that.

Chances are that the FTB'er has already "had their own way" and told their vendor how things will be earlier on in proceedings anyway (certainly mine did:() and I just had to grit my teeth and think "It will be MY turn to have my own way in return later on in proceedings". So it will work out 50/50 overall - they have had their 50%, now I get my 50% of the say.

In a different chain to mine, chances are that its not the FTB'er who is likely to have things like gotta move by a certain date because of a job or the start of a school year or something. They are probably the least "encumbered" out of anyone in any chain and therefore most able to be flexible if someone or other has to be.

It will obviously vary, as you say, in longer chains as to who is "holding the ball" and I'm fortunate personally its just 3 links long - so its my turn now.:D

DRP

moneyistooshorttomention wrote: »

But then the FTB'er only has one transaction. Everyone else in the chain (apart from the person at the top of it) has two transactions to deal with. So we all get to be FTB'er in a chain on our first purchase and have to go along with everyone else's dates and I had to "serve my turn" myself at being the FTB'er when I bought my current house and was told what date it would be and I wasn't even given a choice of dates in fact...it was "that's the date and that's it" and I had to work to that.

Chances are that the FTB'er has already "had their own way" and told their vendor how things will be earlier on in proceedings anyway (certainly mine did:() and I just had to grit my teeth and think "It will be MY turn to have my own way in return later on in proceedings". So it will work out 50/50 overall - they have had their 50%, now I get my 50% of the say.

In a different chain to mine, chances are that its not the FTB'er who is likely to have things like gotta move by a certain date because of a job or the start of a school year or something. They are probably the least "encumbered" out of anyone in any chain and therefore most able to be flexible if someone or other has to be.

It will obviously vary, as you say, in longer chains as to who is "holding the ball" and I'm fortunate personally its just 3 links long - so its my turn now.:D

taking it in turns ... what the .... ? :think:

Dan-Dan

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There , i just posted something that made more sense than money`s post , and took me about 10 seconds