The other party's dodgy conveyancer

Dunree

Hi guys,


A bit of advice needed for an exchange and completion problem we are having.


We are due to exchange on Wednesday and complete on Friday. Everything should have been sorted by now but our buyers conveyancer seems to be putting up obstacles that are unnecessary.


This is a former right to buy property, four in a block. Three have been purchased, one still local authority.


Conveyancer has been insistent that they need all leases from the block, in spite of various other parties saying that it is unnecessary.


Finally, on Friday at the last minute, I obtained a copy of the lease and this was passed onto the other conveyancer.


They are now saying that it has to go to the company that the buyers are getting their mortgage from. This has never been mentioned before, and our conveyance, estate agent and myself think they are making serious errors and don't have the necessary paperwork ready to complete on Wednesday.


Everyone in the chain has agreed to complete and move on Friday. We have arranged our utilities and cable provider to disconnect here, and reconnect in our new place. We have also paid a large deposit to the removal company.


My question is, if this crowd cannot exchange on Wednesday, with a view to completing on Friday, where do we stand for recovering our expenses via the court systems?


The only day that we can move this year, because of other commitments, is Friday, and this has been made very clear to all in the chain.


This day also suits everyone else, but it seems this conveyancer is going to mess things up.


If we can't complete on Friday, we are of the mind to take the property off the market and start the process all over again next year. We are desperate not to do this, as we will lose out on the property we are buying elsewhere.


Any thoughts/advice/comments, good or bad


Dunree

Dunree

Anyone?............

Kynthia

If your purchaser isn't ready to exchange by Wednesday then there's not much you can do. Sometimes searches and enquiries rake longer than expected. Also the conveyancer works for the mortgage lender as well as the buyer and must fulfil their requirements too. To be honest completion is only a suggestion until you exchange, which is why most people have 1-4 weeks between exchange and completion in order to book removals, cancel utilities, etc. Incurring these types of costs before exchanging was a risk that might not pay off and they aren't recoverable from any other party pre-exchange.

Dunree

Kynthia wrote: »

If your purchaser isn't ready to exchange by Wednesday then there's not much you can do. Sometimes searches and enquiries rake longer than expected. Also the conveyancer works for the mortgage lender as well as the buyer and must fulfil their requirements too. To be honest completion is only a suggestion until you exchange, which is why most people have 1-4 weeks between exchange and completion in order to book removals, cancel utilities, etc. Incurring these types of costs before exchanging was a risk that might not pay off and they aren't recoverable from any other party pre-exchange.

Hi Kynthia,

This has been going on since before Easter. One of the things this guy asked for was planning permission for a block of flats, 100 yards up the road, built just after the war.

No one could give a reason as to why he was asking for this.

The date was agreed with everyone in the chain, hence the reason everyone made arrangements to move on that day.

After everything was agreed, this guy now says, at the very last minute, that the mortgage company want to see the lease.

Again, no one knows why they want to see this particular lease and not the other one...

I understand about his obligations to the mortgage company, but it just seems that this guy is not ready, everyone else is, and he is doing what he can to put the kybosh on it all

Ps, we were all supposed to exchange last week until he demanded this lease.

He had previously agreed to exchange without it, which is why we all put things in motion.

Elfbert

Sadly anything can go wrong/any party can change things/walk away without penalty up until exchange.

By having exchange and completion planned so close together you are in a bit of a tight spot, with no way of getting any sort of 'compensation' for the change of plans re Friday.

Good luck, it sounds like you might need it!

(I would also never recommend completing on a Friday! Things can go wrong, and then you're left with a weekend before anything can be sorted. Complete earlier in the week, even if you can't physically move until the Friday/weekend! At least you know you have the property.)

Thrugelmir

Dunree wrote: »

After everything was agreed, this guy now says, at the very last minute, that the mortgage company want to see the lease.

Which is precisely why exchange /completion dates aren't agreed in advance. The lender will release the funds when they are satisfied not before.

Dunree

Elfbert wrote: »

Sadly anything can go wrong/any party can change things/walk away without penalty up until exchange.

By having exchange and completion planned so close together you are in a bit of a tight spot, with no way of getting any sort of 'compensation' for the change of plans re Friday.

Good luck, it sounds like you might need it!

(I would also never recommend completing on a Friday! Things can go wrong, and then you're left with a weekend before anything can be sorted. Complete earlier in the week, even if you can't physically move until the Friday/weekend! At least you know you have the property.)

That was the plan Elfbert, until this guy started with more demands.

As I said, it should have been last week, until he was adamant nothing was happening until he got this lease, in spite of e mails saying everything was ok...

Everyone originally was happy with the week before, again until this guy made more demands.

Elfbert

What a nightmare

Having offered on a flat in Jan, hoped to be in in March....and finally moved in almost in August I know how frustrating it can be when there just never seems to be an end in sight! (That was all down to Countrywide/HSBC doing much the same thing as you're going through - always something new/something needing resending/losing things/at one point sending papers for ME to my seller's solicitors!!- it was completely horrific!)

Best of luck.

Dunree

It didn't help that when I googled this solicitors name and complaints, oh there were lots...

anselld

Dunree wrote: »

It didn't help that when I googled this solicitors name and complaints, oh there were lots...

You cannot complain against someone else's solicitor as they don't work for you.

You cannot claim anything via the courts until after exchange.

Until exchange nothing is "agreed". Dates can change and additional demands can be made. The buyers additional demands are no more unreasonable than your statement that Friday is the only one day of the year you could move!

zarf2007

Dunree wrote: »

It didn't help that when I googled this solicitors name and complaints, oh there were lots...

The other option is to state via the EA to the person buying your place that if you do not exchange on the day specified and this was due to any reason other than the lenders requirements not being met, you will relist the property and they will lose out. It may push them into kicking their solicitor hard enough.

Failing that, you just need to pray as you have no comeback if it doesn't go ahead.