Deposit paid but no date for exchange of contracts

Tel321

Hi everyone, I'm in the process of buying a flat (i'm a first time buyer) and so far the process has been riddled with hold ups and reasons why we can't proceed to the next step so needless to say that its been stressful and frustrating.
After two weeks simply trying to meet the estate agents advisor! I paid to get the solicitors started on the 31st August, the first month passed ok with me receiving lots of paperwork to fill in along with the pre-contract draft from the vendor. At some point during the first month I paid £422 to the solicitors for their searches which were to be completed by 11th October, I didn't hear anything but after me emailing them they replied to say yes the searches are complete however they had some enquiries to put towards the vendors solicitors. After two long weeks my solicitor finally sent off the enquiries, it took two more weeks to receive the replies to which they were not satisfied so back they went again, another two weeks passed before receiving the replies again. They were still not satisfied and sent the enquiries back although this time they did actually chase the replies and they were back in a week. I was annoyed that throughout the 6 weeks of enquiries, I had chase to find anything out as when I didn't two weeks went past and I heard absolutely nothing.
Great I thought, a week (1st dec) later the contract papers came through to which I read, signed and sent back (recorded post). After receiving the contracts Tuesday I never had any confirmation that they received them nor did they go through the next step with me regarding the deposit. I had to keep emailing them over the week to which they sent me a completion statement with their fee and deposit to be paid but no completion date with it just "TBC" also there was a note attached stating "please note this is only a draft at this stage". No instructions when to pay, who to (bank details).
After me asking them they finally told so I have sent the full deposit and fee but they suddenly revealed that one enquiry was outstanding but has been resolved (when the seller sends the paperwork). I emailed to ask that now this enquiry is resolved can they give me a date and I said I was hoping to be exchange by Christmas (originally i was told to expect beginning to middle November) but there reply was simply "we'll update you when we know, possibly in time for Christmas".
I don't want to sound as though I have nagged the solicitor because I really haven't, after not receiving anything from them at all I started emailing them once a week to just check in. I have had to push throughout this whole process to actually be told where we are at any point, things happen causing delays I understand but just inform me whats happening.
So to the point of this post, As I have sent the deposit believing that they were going to give me a date soon as they received the funds but still haven't done so. How do I stand with my deposit if the solicitor stalls and stalls over exchanging the contract, can I say either you give me a date and exchange or you tear it up, send my deposit back and count me out? How it read to me in the contract its "not legally binding until exchange has taken place". So I could pull out with my deposit if they mess me about any more.

Sorry about the long post but the whole story helps sometimes.
has anyone else had similar experiences?
Thank,
Terry

da_rule

You’ve sent the deposit to your solicitor I assume/hope?

Then yes, at any time until you exchange you can tell your solicitor to pay you back and pull out of the transaction (they will deduct their costs incurred).

Unfortunately delays are common, especially in leasehold transactions. Also, where there is a chain involved, the whole chain needs to be ready to exchange before exchange can take place.

davidmcn

If the point of your post is simply "can I get the deposit back before exchange happens", then the answer is yes. It's your money.

Tel321

thanks for you reply. Its a chain free sale. Although its a leasehold property, its peppercorn lease so there is no management company involved.

da_rule

There may not be a rent, but there will still be service charge provisions that need to be checked. There will also be leaseholder covenants and landlord covenants that need to be checked. The freehold title will also have to be investigated.

The solicitor isn’t just acting for you, they also have to act for your mortgage lender.

G_M

There are many possible, and perfectly logical, explanations for the 'delays', so without knowing more one cannot just blame your solicitor.

Deposit - your solicitor is holding this so that as soon as things are ready to Exchange he can do so without delaying things by having to get you to pay it to him! If you decide to pull out, tell your solicitor and your deposit will be returned.

Of course there is no Completion date - that will be agreed and inserted into the contract on the day that Contracts are Exchanged.

Tel321 wrote: »

.....so far the process has been riddled with hold ups and reasons why we can't proceed to the next step so needless to say that its been stressful and frustrating.
Buying property always takes loger than people want or expect, and there are always delays

After two weeks simply trying to meet the estate agents advisor!
No idea why you would want to do this, but hey ho!Your choice!

I paid to get the solicitors started on the 31st August, the first month passed ok with me receiving lots of paperwork to fill in along with the pre-contract draft from the vendor.
Good. Normal

At some point during the first month I paid £422 to the solicitors for their searches
Good. Normal
which were to be completed by 11th October,
Impossible to predict - it depends how fast the local authority and other organisations are!

I didn't hear anything
if a solicitor has nothing to tell his client, he does not waste his time, or his clients money, contacting him to tell him nothing

but after me emailing them they replied to say yes the searches are complete however they had some enquiries to put towards the vendors solicitors.
Normal - they would wait for the Enquiries and then send the replies, and the searches, all together, to you.

After two long weeks my solicitor finally sent off the enquiries,
they could not do this till they received Title docs from the seller

it took two more weeks to receive the replies
so the seller and or the seller's solicitor took 2 weeks- not unusual

to which they were not satisfied so back they went again,
Good. Your solicitor is doing what you are paying him for - he's being thorough and making sure you get the replies you need.

another two weeks passed before receiving the replies again.
so the seller and or the seller's solicitor took 2 weeks- not unusual
They were still not satisfied and sent the enquiries back although this time they did actually chase the replies and they were back in a week.
Again - your solcitor is doing his job. Would you prefer he simply told you "I've got some inadequste replies back from the seller - they are not satisfactory but neer mind, I suggest you spend your £300,000 without bothering about these legal issues......" ??

I was annoyed that throughout the 6 weeks of enquiries, I had chase to find anything out as when I didn't two weeks went past and I heard absolutely nothing.

if a solicitor has nothing to tell his client, he does not waste his time, or his clients money, contacting him to tell him nothing
Great I thought, a week (1st dec) later the contract papers came through to which I read, signed and sent back (recorded post).
Good.Normal.

After receiving the contracts Tuesday I never had any confirmation that they received them nor did they go through the next step with me regarding the deposit.
If Exchange of Contracts was not imminent, they do not need your deposit yet. Signing the contract does not mean you, or the seller, or everyone else in the chain, is ready yet.

I had to keep emailing them over the week to which they sent me a completion statement with their fee and deposit to be paid
OK - so getting close to Exchange

but no completion date with it just "TBC"
Good.Normal

also there was a note attached stating "please note this is only a draft at this stage".
Good Normal - until everything is finalised a final statement cannot be prepared.

No instructions when to pay, who to (bank details).
This is the first matter where your solicitor may have slipped up. Not serious.

After me asking them they finally told so I have sent the full deposit and fee but they suddenly revealed that one enquiry was outstanding but has been resolved (when the seller sends the paperwork).
OK, so they are still looking out for your best interests

I emailed to ask that now this enquiry is resolved can they give me a date and I said I was hoping to be exchange by Christmas (originally i was told to expect beginning to middle November) but there reply was simply "we'll update you when we know, possibly in time for Christmas".
How can they give you a firm date? It depends alsoon your seller. And his seller. and anyone else in the chain.
November was only ever a guess.

I don't want to sound as though I have nagged the solicitor because I really haven't,
Hmmmm.... I supect you have.

after not receiving anything from them at all I started emailing them once a week to just check in.
Well that will have kept them busy and unable to get on with their job

I have had to push throughout this whole process to actually be told where we are at any point, things happen causing delays I understand but just inform me whats happening.
You would have been told when there was something to tell you. Otherwise you would not be told.

So to the point of this post,
Ha! At last!

As I have sent the deposit believing that they were going to give me a date soon as they received the funds but still haven't done so.
No. They want the deposit so that when everyone is ready to Exchange, they can do so for you asap.
Having the deposit ready does not mean everything else is ready - just that it is getting close.

How do I stand with my deposit if the solicitor stalls and stalls over exchanging the contract, can I say either you give me a date and exchange or you tear it up, send my deposit back and count me out?
Yes, of course.

How it read to me in the contract its "not legally binding until exchange has taken place". So I could pull out with my deposit if they mess me about any more.
Yes you can pullout any time up to Exchange of Contracts.

Sorry about the long post but the whole story helps sometimes.
has anyone else had similar experiences?
Yes - most people

The biggest problem here is that you do not understand the process.

Considering how important it is, and how much money you are spending, it is surprising you have not done any research into who does what, why, and when.

There are many free books available on the subject to help first time buyers.

Tel321

G_M wrote: »

There are many possible, and perfectly logical, explanations for the 'delays', so without knowing more one cannot just blame your solicitor.

Deposit - your solicitor is holding this so that as soon as things are ready to Exchange he can do so without delaying things by having to get you to pay it to him! If you decide to pull out, tell your solicitor and your deposit will be returned.

Of course there is no Completion date - that will be agreed and inserted into the contract on the day that Contracts are Exchanged.
The biggest problem here is that you do not understand the process.

Considering how important it is, and how much money you are spending, it is surprising you have not done any research into who does what, why, and when.

There are many free books available on the subject to help first time buyers.

Thanks for your reply. Your quite right I don't understand the buying process but then again show me a first time buyer who does. I have looked up in a number of places what to expect.
The advisor you questioned was the mortgage advisor/ broker in the estate agents, they wouldn't proceed without me having a meeting with him.
Thats been part of the issue, I've not been dealing with 1 advisor, 1 estate agent and 1 solicitor so far I have had 2 advisors juggling information then 2 different estate agents dealing with the sale and if I look through my emails I have 3 different people from the solicitors.
I know patients is key but talk about confusion.

martindow

Tel321 wrote: »

The advisor you questioned was the mortgage advisor/ broker in the estate agents, they wouldn't proceed without me having a meeting with him.

The agents are keen for you to use their adviser so they can receive a fee. Did they really refuse to proceed before you saw them? If so I would be looking at their terms of trade with a view to complaining.