Buyer's solicitor seems to be putting off exchange

molenpad

We're in a chain of three houses (we are buying a chain free empty house, our buyers are selling their house to an FTB) - a few weeks before Christmas we were asked by our buyers solicitor if we would be able to complete on the 11th Jan - we said yes, as did everyone.

Shortly before everyone downed tools for Christmas we were told by our solicitor we'd likely be in a position to exchange immediately when they open after New Year, so either the 3rd or 4th Jan. Again, we said that's fine.

Roll forward to the 3rd Jan. We ask the question to our solicitor - are we going to exchange? She hears back from our buyers solicitor that they are not quite ready yet due to some paperwork that needs sorting, and can't give a date when they will be ready, but can confirm still OK to complete on the 11th.

We're eager to exchange with at least a weeks notice, so we chase it the next day. Paperwork sorted, says our buyers solicitor, now they need to pull down our buyers mortgage, but don't want to exchange until they can get a guarantee from their lender that the funds will be ready by the 11th. They'll know Monday (today). This confused our solicitor as the lender they're using is reliable and there's enough time even if it takes the full 5 days.

Roll forward to today, we chase again. Buyer's solicitor says yes funds will be in place, however they don't want to exchange yet as they are waiting on something from their seller. They refuse to tell my solicitor what it is, but say it's not an issue and won't delay completion - in fact our buyers have booked a removal company for the 11th...! We know there are no outstanding issues with our buyers own sale, as it's been in place for a while. They were looking for a while until they offered on our house.

My solicitor isn't sure why our buyer's solicitor is not wanting to exchange. Our estate agent isn't aware of any issues that should be delaying it.

My gut feeling is that our buyers solicitor is either hiding something (no idea what) or simply can't be arsed - and likely we will end up completing and exchanging on the same day.

Any idea why a solicitor would keep putting off exchange if there were no known issues in the chain, and no reason to not exchange??

Who should I be chasing and who should be giving me answers? Obviously I want to complete on the 11th. I've booked provisional time off work and put a deposit (only £10) on a removal van. A lot of the the stuff I would have committed to after exchange, I haven't done, but I know a lot of this stuff can be done last minute or shortly after completion anyway.

I feel like if I get any further into this week and keep getting fobbed off I should propose a new date and see what they say?

da_rule

There’s not a huge amount more you can do. If theirnsoliciotr won’t tell you the reason for the delay then you’re not going to be able to get it out of them.

As you say, you could put an ultimatum to them, but you then run the risk of collapsing the chain. Exchange can be done on the day of completion if necessary.

babyblade41

Any consolation we were supposed to complete dec7th ...only exchanged today.

I still feel the E &W way of buying and selling houses is at best slow and worse painfully stressful

Nothing really you can do except keep asking .. and EA's need to do some more

molenpad

I agree there's not much more we can do to force the issue of exchange. It seems that we're the only ones actually pushing it.

Ideally it would be great to have some time between exchange and completion where we can confidently arrange for deliveries to come and sort after school care out for our son who has some additional needs. None of that can we really do until we are 100% sure we're moving.

babyblade41

We were lucky in all having great solicitors (not conveyance firms) but all the instructions come from the sellers so only they know what is going on

Just keep asking and at some point it will fall into place

molenpad

I'll be on at them again tomorrow!

I suppose for me the most puzzling part is my buyers solicitor's attitude to exchanging. Very non-commital about exchange, but very firm that the 11th is still on for completion - I mean, why delay exchange? What is there to gain?

Thrugelmir

molenpad wrote: »

Any idea why a solicitor would keep putting off exchange if there were no known issues in the chain, and no reason to not exchange??

There are obviously some minor issues that still need ironing out. What they are , are none of your business. You'll probably never know. When exchange is possible it will happen. Solicitors work for their clients. Which also includes the bank providing the finance. Chasing yourself isn't going to speed matters up. Everybody wants the matter concluded as quickly as possible.

AnotherJoe

molenpad wrote: »

I agree there's not much more we can do to force the issue of exchange. It seems that we're the only ones actually pushing it.

Ideally it would be great to have some time between exchange and completion where we can confidently arrange for deliveries to come and sort after school care out for our son who has some additional needs. None of that can we really do until we are 100% sure we're moving.

Push back the completion date. Make it clear you need X days between exchange and completion. That will focus peoples minds and given your sons needs hard for anyone to argue against.

G_M

babyblade41 wrote: »

I still feel the E &W way of buying and selling houses is at best slow and worse painfully stressful

I agree. It would be far better if contracts were Exchanged with simultaneous Completion, via the estate agent, on the day a price was agreed.

Buyers could then occupy their new homes the next day and all the other bureaucratic paperwork could follow in due course.

quotememiserable

molenpad wrote: »

I suppose for me the most puzzling part is my buyers solicitor's attitude to exchanging. Very non-commital about exchange, but very firm that the 11th is still on for completion - I mean, why delay exchange? What is there to gain?

Are you in touch with them yourself? Why not ask them this question outright. If you're not in a position to exchange today, you can't be sure about 11th.
Or ask you buyer directly if you have their number. If there's a hidden reason, I don't see what anyone gains from keeping it hidden.

babyblade41

G_M wrote: »

I agree. It would be far better if contracts were Exchanged with simultaneous Completion, via the estate agent, on the day a price was agreed.

Buyers could then occupy their new homes the next day and all the other bureaucratic paperwork could follow in due course.

What an excellent idea :rotfl:

I just think the uncertainty to exchange is so stressful . My friend who has an independent agency in Wales moans about it every time we talk .

I use him all the time even though I moved from there 3 years ago and he has done a couple for me in England in the past 2 and there has to be a less stressful way to do things .

If it's not your home then it isn't as bad but this last one for me has been excruciatingly painful as our vendors were PA's who were not in any hurry to do anything