Solicitor pushing to exchange

Penguin2017

Just a quick Q : we are all set to exchange in just less than a month from offer.. i have transferred the 10% to the solicitor account today, however, the insurance starts 1st May. The solicitor is insisting that we exchange tomorrow, which is making me little uncomfortable (it doesnt impact total timelines). Actually the sol was agent recommended, and all through the process the sol and agent have been chatting, so am beginning to feel the sol is not really looking out for me.. been re-reading the contract but generally hoping sol did the job well!

Storm in tea cup, but should I stick my heels in for just a day

davidmcn

Not sure why you put the insurance in place before knowing the exchange date, but can't you just change it to start tomorrow if that's the only issue?

G_M

Penguin2017 wrote: »

... we are all set to exchange

i have transferred the 10% to the solicitor account today,
well done

however, the insurance starts 1st May.
why on earth have you put insurance in place before Exchanging. What if Exchange was delayed?
Or never happened?
Or was brought forward (as seems tto be happening)?

The solicitor is insisting that we exchange tomorrow,
So you are letting the tail wag the dog?
It is YOU who instructs your solicitor when YOU are ready to Exchange.

which is making me little uncomfortable (it doesnt impact total timelines).
So instruct him not to Exchange yet.

Actually the sol was agent recommended,
:eek::eek::eek::eek: Big mistake


and all through the process the sol and agent have been chatting, so am beginning to feel the sol is not really looking out for me.. been re-reading the contract but generally hoping sol did the job well!
Yeah, well - too late now!

Storm in tea cup, but should I stick my heels in for just a day

Either bring the insurance forrward, or delay Exchange.

No one can tell youu what to do! Certainly not your solicitor!

Whatever instruction you give your solicitor, do it in writing not over the phone.

hazyjo

Less from a month from offer? Blimey, that is quick!!!! It'll be their head on the block if they've not done things properly so hopefully all's fine!

eddddy

Penguin2017 wrote: »

... the insurance starts 1st May. The solicitor is insisting that we exchange tomorrow, which is making me little uncomfortable (it doesnt impact total timelines).

It's very unusual for a solicitor to insist...

Are you sure that your solicitor isn't just passing on a message from your seller - and it's the seller who is 'insisting'?

Or your solicitor is busy/ unavailable /on holiday on 1st May and cannot exchange on that date - so wants to exchange on 30th April instead?

betsie

You said your EA and solicitor have been chatting - if they have a mutual working relationship (EA pushes buyers and sellers to use that firm). He may be trying to do the EA a favour. If it exchanged today the EA fees are billable today 30th April which may impact on how much commission the EA gets rather than it falling into May!!!8217;s sales.

Smodlet

betsie wrote: »

You said your EA and solicitor have been chatting - if they have a mutual working relationship (EA pushes buyers and sellers to use that firm). He may be trying to do the EA a favour. If it exchanged today the EA fees are billable today 30th April which may impact on how much commission the EA gets rather than it falling into May!!!8217;s sales.

... The solicitor would get his kickback from the EA earlier, as well hence G_M's quadruple eek!

shortcrust

I really think I'd complain, and I'd be asking for an explanation of why they were pushing a particular date. That's of course assuming there's not been a misunderstanding.

Penguin2017

Well I figured out its was due to month end i.e .30th vs. 1st for the EA. Fair enough from EA POV, but the risk was mine so didnt sign today, as I couldnt change the insurance. so made them unhappy but ...


It just gave me jitters on why my solicitor was pushing me and copying EA on our communication..
I read the contract and all documents, but in the end relied on sol to give me confidence that we are not buying a lemon (There are always things in a report (though not red) which can make you a wreck

Lesson: do NOT take the EA solicitor ... you need someone on your side. so stupid!

ThePants999

In any case, it's not the solicitor's responsibility to ensure you're not buying a lemon. Well, I mean, the solicitor should be helping to protect you against legal lemons like short leases, unfair covenants, yadda yadda. But for the house itself, it's between you and the surveyor to decide what's important.

kingstreet

Smodlet wrote: »

... The solicitor would get his kickback from the EA earlier, as well hence G_M's quadruple eek!

Other way round. EA gets the kickback from the solicitor.