Contract Signed Date not confirmed

FTbuyer12

bigmortgage said:

Are you sure they signed the contract?

You signing it is academic, your solicitor can change the date and other details after you have signed (as long as you agree), as long as you haven't both signed. And the contract is obviously not valid or binding until all parties have signed.

yea i have it on my email the signed contract from both the seller and myself?

bigmortgage

FTbuyer12 said:

bigmortgage said:

Are you sure they signed the contract?

You signing it is academic, your solicitor can change the date and other details after you have signed (as long as you agree), as long as you haven't both signed. And the contract is obviously not valid or binding until all parties have signed.

yea i have it on my email the signed contract from both the seller and myself?

Are you a cash buyer? If not your conveyancer is extremely wreckless exchanging contracts with no completion date. What if your mortgage offer expires and you can't get a new one? You would be liable for the deposit and the vendor's costs.

hazyjo

To clarify, every party in a chain can sign weeks or even months ahead of exchange. The date is added to the contract later. All parties will be contacted to ask if it's okay to exchange before it takes place, then once done the transaction (and completion date) is all legally binding.

greatcrested

I don't believe the OP has Exchanged.

Signed. Yes. But not Exchanged.

His seller also has probably signed.

But I don't believe contracts have been exchanged.

May be wrong of course, but whole tone of the posts, and the repeated substtution of the word 'signed' for 'exchanged', combined with the apparent nonchalance of his conveyancer over the failure to Complete.....

Thrugelmir

John_G66 said:

If your money is deposited with solicitor but not exchanged yet, are those funds protected ?

Solicitors are required to hold client funds in separate accounts to those of the business itself. In the event that the solicitor themselves commits fraud. There's a compensation scheme in place. 

FTbuyer12

greatcrested said:

I don't believe the OP has Exchanged.

Signed. Yes. But not Exchanged.

His seller also has probably signed.

But I don't believe contracts have been exchanged.

May be wrong of course, but whole tone of the posts, and the repeated substtution of the word 'signed' for 'exchanged', combined with the apparent nonchalance of his conveyancer over the failure to Complete.....

Hi so contracts sent to us we signed and sent back to seller to sign they returned them back signed and dated so are they not exchanged?

bigmortgage

FTbuyer12 said:

greatcrested said:

I don't believe the OP has Exchanged.

Signed. Yes. But not Exchanged.

His seller also has probably signed.

But I don't believe contracts have been exchanged.

May be wrong of course, but whole tone of the posts, and the repeated substtution of the word 'signed' for 'exchanged', combined with the apparent nonchalance of his conveyancer over the failure to Complete.....

Hi so contracts sent to us we signed and sent back to seller to sign they returned them back signed and dated so are they not exchanged?

Not necessarily. Ask you solicitor.

hazyjo

You should have sent them back to the solicitor.

No, you have not exchanged just by all signing contracts.

FTbuyer12

bigmortgage said:

FTbuyer12 said:

greatcrested said:

I don't believe the OP has Exchanged.

Signed. Yes. But not Exchanged.

His seller also has probably signed.

But I don't believe contracts have been exchanged.

May be wrong of course, but whole tone of the posts, and the repeated substtution of the word 'signed' for 'exchanged', combined with the apparent nonchalance of his conveyancer over the failure to Complete.....

Hi so contracts sent to us we signed and sent back to seller to sign they returned them back signed and dated so are they not exchanged?

Not necessarily. Ask you solicitor.

perfect i will double check this takes

We just worrying a little as mortgage is already drawn down still not in house and direct debit for repayment starts on the 2nd 

greatcrested

FTbuyer12 said:

greatcrested said:

I don't believe the OP has Exchanged.

Signed. Yes. But not Exchanged.

His seller also has probably signed.

But I don't believe contracts have been exchanged.

May be wrong of course, but whole tone of the posts, and the repeated substtution of the word 'signed' for 'exchanged', combined with the apparent nonchalance of his conveyancer over the failure to Complete.....

Hi so contracts sent to us we signed and sent back to seller to sign they returned them back signed and dated so are they not exchanged?

Are you doing the conveyancing yourself? Not using a solicitor? If so, clearly you should not be as you do not know enough to DIY.

If using a solicitor, I assume the solicitor sent you the contract to sign, with an instruction

* to sign it

* not to date it it

* to return it, signed, undated, to him (the solicitor) not to the seller.

Re-read the letter the solicitor sent you with the contract!

Having said that, if you and the seller have ignored your respective solicitors in the way you describe, yes, you may have Exchanged, in which case you need to inform your solicitor and let him try to sort out the mess......

Of course, if neither you nor the seller have solicitors and are both DIYing, well, sorry - you are on your own! That's what comes of trying to do a complex legal transaction without proper legal understanding......