HELP: Questions about what *exactly* happens on exchange day

Moonraker71

Thanks for that G_M. Are you saying that an immediate pre-exchange phone call to all parties is an integral part of the exchange process, even if all of those people have previously confirmed that they wish to exchange today? If so, this concerns me greatly as my vendor has 4 different mobile no.s, is never contactable on any of them, and never returns calls - so I'm told.

Now, obviously you'd think it would be in his interest to be clutching his phone for dear life today (as I am) but we're not dealing with a rational human being here, and I also have a terrible feeling that he's dragging this out as long as possible in order to shaft me at the last possible moment with a financial demand.

Truly hope I'm just being paranoid. Still no word from solicitor. Is it bad form to chase up again when I've already spoken to her this morning and she says she's dealing with it? They are closed for lunch now (for **** SAKE!) but I'm just worried time is dripping away.

God. This is turning me into my worst nightmare kind of person.

moneyistooshorttomention

"Bad form" or no I'd contact your solicitor in your position and, hopefully, all being well it will help put your mind at rest.

...and I know what you mean about going round clutching the phone. I went round Friday doing so and now I'm doing so again today and what happened....it was my mobile I was clutching earlier today whilst out and about and the solicitors office rings me on my landline and I wasn't home to pick it up obviously! Duh!

calicocat

From what I understand you can exchange and complete on the same day if all parties agree...I think this is right, as nearly happened with my chain as I was waiting for funds to be transferred to me and an exact date was difficult to get for a while. Is it this friday for completion? , don't take my word for it but that still all sounds doable, I exchanged on a tuesday then completed friday, but like I say it can be done with a finer time scale than that, I would imagine assuming everyone fast tracks their money around.

Moonraker71

Thanks calicocat. The issue is that my vendor is insisting if we don't exchange today, he is pulling out.

Two and half hours to go until the end of the working day...

calicocat

So what are your solicitor and estate agent saying? Is you vendor getting on with it, and what's your buyer doing today? They should be able to tell you what's going on surely, mine did. I have to say the solicitor was very laid back about it (but does it every day probably so wasn't freaking like me), but my estate agent emailed me every couple of hours with progress report.

Also my vendor insisted on an exchange date or they would put house back on market (this was a week after accepting my offer), before I had even replied my solicitor just dismissed this and told me we would be determining a date later and wouldn't be told what was happening at that stage.

Any news?, your EA would have an idea if they are really going to pull. sometimes people say this, but are ok and backtrack as long as they can see a definite end in sight. I know I got sick of it all at one point and nearly pulled, but then gave myself a reality check.

G_M

Moonraker71 wrote: »

Thanks for that G_M. Are you saying that an immediate pre-exchange phone call to all parties is an integral part of the exchange process, even if all of those people have previously confirmed that they wish to exchange today?.

I can't be sure what each solicitor's exact process would be, but they would never 'Exchange' without an unequivical instruction to do so from their client.

They might accept such an instruction the day (or 2) before.

But certainly they would not Exchange on the basis of a vague "I want to Exchange on 27/8/13 given several weeks earlier or when they were originally instructed. Things, and people, change, so they would want to be sure the client still wanted to proceed.

Imagine if they did NOT check, and their client then said "My partner died 3 days ago - I've not had a chance to contact you. But I no longer want to buy/sell the property" and the solicitor had to say: "Sorry guv, I Exchanged today/yesterday - you are legally commited now".

Moonraker71

Jeeeezus. Just exchanged. 5.58pm. Sorry for the radio silence but was too busy pulling hair out.

Calico, the EAs have been entirely useless throughout this whole process. The actual EA I've been dealing with is a personal friend of the vendor, so I've never ever felt like I've been getting the real story.

I know I should be jumping up and down right now but I actually feel a bit flat, I'm ashamed to say. Massively relieved of course, but this weekend has really taken its toll. I'm now just looking at the contents of my flat knowing I only have 48 hours to do EVERYTHING.

Thanks G_M, I suppose that because exchange was originally supposed to happen last Friday, they already had everyone's 'permission' in the bag.

What can I say? This whole nightmare has been hideous and I would never have got through it without the help, advice and empathy of people on here. Heartfelt thanks, seriously.

calicocat

Hehe, well feeling flat in my book is totally normal. Everyone around me was saying "are you not really excited".......URrrrmm......NO, i'm sick of the whole thing and it's boring me now. If you have been stressed for days you can't just come down on one phone call.


But great news!!!.....you have come through it without hospitalisation and living to tell the tale. good luck in your new home, in around 4 weeks you will love it and be glad you have done it.

I'm on a mobile and this one doesn't to the 'faces'.....but 'jumping up and down happy ones and chinking glasses'.....pour yourself a drink and chill.


Edit, I ended up with 32hrs to move as only time removers could do it. It will be fine honestly.

Moonraker71

Ah thanks Calico! I am pouring myself a stiff G&T right now! Just realised my hands were actually shaking as I typed that last post, so I feel it's well deserved

dibuzz

Phew, I'm exhausted reading all that.
You must be so relieved it's over now.
Good luck in your new home, I hope you will be very happy there.