WWYD Solicitor exchanged on wrong house!!!!

Pixie5740

CBeardsworth wrote: »

We have already given our notice in because contracts were signed and we were ready with no chain.

That contradicts what you said in your OP.

CBeardsworth wrote: »

We are buying a house, due to exchange yesterday.

Due to exchange but didn't exchange yet somehow you've signed the contracts and that's why you served notice on the rental property? :huh:

Pixie5740

Ask your vendors to go into rented accommodation until their chain completes so that you can complete your purchase? Other than that there's not much else you can do.

kingstreet

Notice was given on a rental before exchange of contracts on the onward purchase?

The onward purchase has now been delayed by a solicitor error on the vendor's side.

Notice should never be given until contracts are exchanged.

Damn. Was typing while Pixie was getting there first.

david1951

CBeardsworth wrote: »

I believe the buyers of house 2 were ready and therefore didn't question it. The onward purchase is not ready.

OK, the best you can do is threaten to pull out of the transaction unless they exchange imminently. They may well concede to this as it will cost them money to find a new buyer etc. You do risk them pulling out of the deal in response.

Until contracts are exchanged you should assume nothing. Even if this problem hadn't occurred they could've pulled out of the purchase.

CBeardsworth

Pixie5740 wrote: »

That contradicts what you said in your OP.



Due to exchange but didn't exchange yet somehow you've signed the contracts and that's why you served notice on the rental property? :huh:

Sorry, I know this is super confusing. I went in to my solicitors and signed contracts then transferred deposit to my solicitor. Solicitor says 'Great, we are ready to exchange I will organise to exchange the contracts with the vendors solicitor'. Solicitor rings back later that day : 'Exchange is taking place tomorrow'.
Tomorrow comes, vendors solicitor exchanges the contracts for the other house which is also ready but the contract for their onward purchase is not. Big boo boo by solicitor, vendor taking legal action towards their solicitor but leaving me wondering how to react to the news that my purchase now very suddenly has a chain.

stator

I'm afraid if you haven't exchanged on your purchase yet then there's absolutely nothing you can do except to put pressure on them through your solicitor / estate agents.
They have no obligations to you until exchange takes place

If you've signed the contracts but not exchanged, the contracts are worthless. It's not until the solicitors say the magic words "exchanged" that the contracts become activated.

Very unlucky , can you extend your rental for another month? Most landlords would prefer to keep the money coming in unless they already have another tenant lined up

Pixie5740

Your other option if your vendor can't/won't go into rented accommodation is to contact your landlord and see if (s)he will let you revoke your notice.

gingercordial

CBeardsworth wrote: »

Sorry, I know this is super confusing. I went in to my solicitors and signed contracts then transferred deposit to my solicitor. Solicitor says 'Great, we are ready to exchange I will organise to exchange the contracts with the vendors solicitor'. Solicitor rings back later that day : 'Exchange is taking place tomorrow'.
Tomorrow comes, vendors solicitor exchanges the contracts for the other house which is also ready but the contract for their onward purchase is not. Big boo boo by solicitor, vendor taking legal action towards their solicitor but leaving me wondering how to react to the news that my purchase now very suddenly has a chain.

So when did you hand in the notice on your own rental property? Presumably not before the day on which you went into your solicitors to sign the contracts (Wednesday?) and were then promised exchange the next day (Thursday ie yesterday?).

If so that can only have been very recent, two days ago probably. Has your landlord found a new tenant yet? If not, can't you ask them nicely if you can stay on another month? I would think they'd be glad of another month of guaranteed income and the putting off of a potential void.

G_M

* their solicitor mess up exchanging the wrong property. Nothing you can do as you are not involved.

* the buyer of the above house, and their solicitor, also messed up by exchanging prematurely.

* you messed up by serving notice on your rental before Exchanging. Speak to your landlord who may be sympathetic and allow you to withdraw your notice (or extend the tenancy end date)..... or he may not.

moneyistooshorttomention

Pixie5740 wrote: »

Your other option if your vendor can't/won't go into rented accommodation is to contact your landlord and see if (s)he will let you revoke your notice.

....and investigate how to ensure this incompetent solicitor (or your vendor) covers the extra rent money wasted meanwhile...