Exchanging contracts when abroad

SmashedAvacado

Op - you could give written authority for the solicitor to sign on your behalf. They will probably accept an email or fax from you.
That's enough for exchange (not for completion though).

davidmcn

raddon24 wrote: »

Yes, it actually suits the vendor as much as us to complete 6 months after exchange. This all sounds promising, though i cant help stressing

Stressing about what in particular? Even if hard copy documents have to be sent to and/or from you, that's hardly difficult, unless you're going to be somewhere particularly remote. And easily avoided by giving your solicitor power of attorney before you go. If there's a six month delay then it doesn't sound like anything time-critical is going to be involved.

hazyjo

raddon24 wrote: »

Yes, job is guaranteed on return. We will be relying on a 4 week extension being accepted.

6 months might not work for you, but the thought of coming home to a great job and (hopefully) a new home fills me with excitement not dread.

Have you got the mortgage offer already? Mine came way before exchange.


It's six months from when given. Not from exchange. I hope you have a large deposit or can access cash. Who knows that the market will do, especially with brexit looming. In a falling or even static market, not to mention interest increases (they are unlikely to extend if rates have increased), you are taking a massive risk. Although I'm sure your solicitor and lender would have explained this to you...

hazyjo

SmashedAvacado wrote: »

Op - you could give written authority for the solicitor to sign on your behalf. They will probably accept an email or fax from you.
That's enough for exchange (not for completion though).

Completion is set at exchange. They don't need to be there for completion. Once exchanged, it's basically done.

SmashedAvacado

hazyjo wrote: »

Completion is set at exchange. They don't need to be there for completion. Once exchanged, it's basically done.

erm, no. once you have exchanged you need to execute the transfer (as a deed). That requires you to sign an original document and send it back. The point i was making is that you can authorize someone else to sign on your behalf (if you are out of the country for example) whereas you cannot easily authorize someone to sign the transfer on your behalf

hazyjo

SmashedAvacado wrote: »

erm, no. once you have exchanged you need to execute the transfer (as a deed).

Sorry, wouldn't believe I've done it 7 times. I've obviously blocked out the pain of moving! Didn't remember signing more once I'd exchanged!

Slithery

raddon24 wrote: »

We will be relying on a 4 week extension being accepted.

A terrible idea. What happens if the extension isn't granted?

lisyloo

SmashedAvacado wrote: »

erm, no. once you have exchanged you need to execute the transfer (as a deed). That requires you to sign an original document and send it back. The point i was making is that you can authorize someone else to sign on your behalf (if you are out of the country for example) whereas you cannot easily authorize someone to sign the transfer on your behalf

I’ve sold recently and I did not sign any paperwork after exchange.
Why can’t it be signed in advance?

raddon24

Either re-apply for a mortgage or agree a sooner completion date. My mortgage broker certainly doesn't seem worried...

hazyjo

raddon24 wrote: »

Either re-apply for a mortgage or agree a sooner completion date. My mortgage broker certainly doesn't seem worried...

1. What if you can't get an extension?
2. What if interest rates have gone up or they won't lend you as much? What % is your deposit?
3. You say 4 weeks, but when was it actually granted? Or are you still waiting? Are you sure you're not looking at longer for an extension?
4. Is it definitely valid 6 months (I had one valid for 3 which needed extending)? Don't presume your lender will tell you - they obviously haven't taken much notice of your completion date (presuming you've mentioned to them that it's likely to be at least 7 months after them granting you a mortgage and that you will have exchanged and the mortgage offer will have expired before completion).


Good luck!