The NEW waiting to exchange thread...

ThriftyGinger

Argh - we vaguely agreed to complete on the fifteenth, which I presumed meant we'd exchange tomorrow, but I haven't heard a snifter since! Not sure what is going on, just going to have to sit here and wait and see.

Lostthegame

Moonrat said:

Lostthegame said:

Don’t want to be optimistic as I’m sure it won’t be smooth sailing but my solicitor rang to say they expect the searches back within 5 days and to start the process of closing my Lifetime ISA...

How proactive have you been chasing your solicitor? Or are they just on the ball?

Offer accepted in October, and had about 4/5 emails off them since. My emails go unanswered.
We have a LISA too and got our searches returned before Christmas by an assistant that said the solicitor would be in touch in due course - yet to hear anything and I wasn't aware we would have to close the LISA ourselves? Literally no idea where we are in the process due to lack of communication on their part. 

I’ve only emailed them a couple times but I get a reply normally within the hour. The thing that annoys me is that I don’t know what’s going on unless I get in touch with them. 

My LISA is with Moneybox, I’ve been emailed a form from them to fill out to request the closure and then they’ll contact the solicitor to transfer the funds to them.

Mineral1

Our solicitor will only allow us to exchange on the same date as completion, seems the seller doesnt want to though. Not sure how to proceed.

mm1985

We have just signed out contracts. Our solicitor has asked that we have our buildings insurance specifically state that Halifax is our mortgage provider on the cover letter. Our insurance provider (M&S) is saying they don’t do this and it is not a legal requirement. Can anybody see a problem with this? 

Sotts

Mineral1 said:

Our solicitor will only allow us to exchange on the same date as completion, seems the seller doesnt want to though. Not sure how to proceed.

That's risky is you're in a chain.  And the choice should be yours 

Mineral1

Sotts said:

Mineral1 said:

Our solicitor will only allow us to exchange on the same date as completion, seems the seller doesnt want to though. Not sure how to proceed.

That's risky is you're in a chain.  And the choice should be yours 

They will allow us to, but they have said we would need to sign a waiver to say that we have gone against their advice and if we do that and something goes wrong, we can't claim against them

Sotts

Mineral1 said:

Sotts said:

Mineral1 said:

Our solicitor will only allow us to exchange on the same date as completion, seems the seller doesnt want to though. Not sure how to proceed.

That's risky is you're in a chain.  And the choice should be yours 

They will allow us to, but they have said we would need to sign a waiver to say that we have gone against their advice and if we do that and something goes wrong, we can't claim against them

But surely there's more risk exchanging and completing same day. What do they think will go wrong

Mineral1

Sotts said:

Mineral1 said:

Sotts said:

Mineral1 said:

Our solicitor will only allow us to exchange on the same date as completion, seems the seller doesnt want to though. Not sure how to proceed.

That's risky is you're in a chain.  And the choice should be yours 

They will allow us to, but they have said we would need to sign a waiver to say that we have gone against their advice and if we do that and something goes wrong, we can't claim against them

But surely there's more risk exchanging and completing same day. What do they think will go wrong

I would love to know, but they wont tell me. They keep just emailing back and saying their advice remains the same, nobody knows what is going to happen with lockdown and coronavirus etc. Repeated attempts to have a discussion about it have failed to be honest. I'm not brave enough to go against their advice as if something went wrong I need to know I can claim against them. We are first time buyers at the bottom of the chain so no house to sell or even flat to move out of so no pressure there at least.

Peppermint90

Mineral1 said:

Sotts said:

Mineral1 said:

Sotts said:

Mineral1 said:

Our solicitor will only allow us to exchange on the same date as completion, seems the seller doesnt want to though. Not sure how to proceed.

That's risky is you're in a chain.  And the choice should be yours 

They will allow us to, but they have said we would need to sign a waiver to say that we have gone against their advice and if we do that and something goes wrong, we can't claim against them

But surely there's more risk exchanging and completing same day. What do they think will go wrong

I would love to know, but they wont tell me. They keep just emailing back and saying their advice remains the same, nobody knows what is going to happen with lockdown and coronavirus etc. Repeated attempts to have a discussion about it have failed to be honest. I'm not brave enough to go against their advice as if something went wrong I need to know I can claim against them. We are first time buyers at the bottom of the chain so no house to sell or even flat to move out of so no pressure there at least.

My solicitor also strongly advised this ( exchange and completion at same time) at our very first meeting.
He explained it's to avoid risk of losing deposit money should purchase fall through for some reason, esp with covid/lockdown issues going on. 

breakfast_epiphanies

I exchanged and completed on the same day this week. Very glad my solicitor supported me in that because it was the day after Boris’s lockdown. Although that announcement allowed house moves to continue, it very well could have gone the other way. Chain of 3 and everything went smoothly.... well, I’m sure it meant a bit of extra hassle for the solicitors, but that’s what you pay them for.