Conveyancer not following instructions

chappers

moneytorques wrote: »

Yes it is but not at the expenses of losing the property because it was last minute dot com, an oversight by the Conveyance not to have done a fortnight ago.

Yes indeed, but don't get yourself into a situation where by you are committed to completing by a certain date and can't.
When the developer then issues a notice to complete and you still can't, what then.
Are you aware of the implications of the sale falling apart at that stage ?
Even if they are operating out of an aircraft hanger in Maccelsfield, take their advice, when it comes to the legal implications, even if they haven't got to them in a very timely manner

haras_nosirrah

while it may have been better for the conveyancer to have done the check earlier it sounds as though this check is not usually done till the very end - especially if it is normally done after exchange

you want the house and will do anything to get the house which is understandable. Your solicitor is not emotionally involved and has a clearer head than you. They are being paid to protect you. If you had exchanged and this had come out before completion you may not have been able to complete and could have faced fines and possibly loss of deposit. Be thankful it has come out now before you are legally obliged to complete by a certain date as this could have been very very messy.

You are buying the most expensive thing you will ever buy. Let the solicitor do all the checks to make sure you are not buying something that will be unsellable later on. maybe the other plots who have exchanged are using a solicitor recommended by the developer and may have a nasty suprise when they come to sell?

The solicitor is not ready to exchange. Nothing you can do can force him to do so - although you could possibly suggest he drafts up a form where you take full responsibility for going against his advice if it turns out to be a problem and absolve him of any responsibility if you really want to exchange.

if you aren't prepared to do that you will just have to tell the developer that your solicitor won't exchange until this legal document is in and there is nothing you can do about it.

moneytorques

chappers wrote: »

Yes indeed, but don't get yourself into a situation where by you are committed to completing by a certain date and can't.
When the developer then issues a notice to complete and you still can't, what then.
Are you aware of the implications of the sale falling apart at that stage ?
Even if they are operating out of an aircraft hanger in Maccelsfield, take their advice, when it comes to the legal implications, even if they haven't got to them in a very timely manner

Well the situation is that a 28day Reservation to Exchange deadline is now 12 weeks on.
The builder has had enough of my conveyancer on a go slow told us we had until the 1st and it's been readvertised for Sale.
To be told we are good to Exchange and then "oh actually we've just put an OS2 search through" does that sound timely?

haras_nosirrah

a bad solicitor is one who steam rollers through to meet an arbitrary deadline set by a developer who doesn't care about you and just wants their money and in the process misses important things. Bad solicitors get sued

http://www.conveyancingpro.co.uk/conveyancing-negligence/

your solicitor is not negligent and is trying to ensure you are not spending hundreds of thousands of pounds and a lifetime paying for something which is defective or could be impossible to sell.

It is frustrating - I completely understand that. I work with property transactions day in day out and do a lot with newbuild sites with the 28 day exchange deadlines. Fortunately the developer I work with understand that we will do all we can to meet the 28 days exchange deadline but cannot guarantee it and won't be held to it.

moneytorques

Even the Law pages website states the OS2 search is done post completion.
If there's so much at risk why is not always done before Exchange?

Thrugelmir

moneytorques wrote: »

Even the Law pages website states the OS2 search is done post completion.
If there's so much at risk why is not always done before Exchange?

What does the CML handbook for your lender say?

moneytorques

4.2 You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell us immediately.
4.3 You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in the mortgage offer are correct. If they are not, please let us know as soon as possible (see part 2) as it will be necessary for us to check with the valuer whether the valuation needs to be revised. We are not expecting you to assume the role of valuer. We are simply trying to ensure that the valuer has valued the property based on correct information.

davidmcn

Thrugelmir wrote: »

What does the CML handbook for your lender say?

The CML Handbook requirements are all completion requirements - lenders don't care what has happened before or after exchange, as their money is only at risk if the transaction completes.

In theory yes, solicitors ought to accept instructions to exchange if their (purchaser) clients are happy to take the risks involved, but I can understand why they might be reluctant to face the transaction going pear-shaped and then hope their clients will pay them for the additional time involved.

chappers

moneytorques wrote: »

Well the situation is that a 28day Reservation to Exchange deadline is now 12 weeks on.
The builder has had enough of my conveyancer on a go slow told us we had until the 1st and it's been readvertised for Sale.
To be told we are good to Exchange and then "oh actually we've just put an OS2 search through" does that sound timely?

That's fair enough but don't get bullied by them, you are now close, the vendors solicitor is auctioning the problem. The developer isn't going to jump ship and find another buyer that will exchange and complete any quicker than you.
Just about every memorandum of sale I have seen says exchange in 28 day,s completion as arranged, your time scale is actually more closely akin to the real world, nowadays.

chappers

davidmcn wrote: »

The CML Handbook requirements are all completion requirements - lenders don't care what has happened before or after exchange, as their money is only at risk if the transaction completes.

But you would be foolish to exchange, unless you are actually in a position where by you could complete, bar a few very minor exceptions.