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Are solicitors delaying because of COVID19 or because of another reason?
jumperabv3
Posts: 1,231 Forumite
I was asking about buying a 2nd BTL in a previous thread.
After lots of thoughts I'd like to proceed, the current owners/sellers have agreed to pay rent on the property after completion until they move out.
From my end I'm ready as a cash buyer (well, remortgaged my 1st BTL but still I'm the one paying the cash for the property) - from their end I understood they are ready too, so the only thing left is for the solicitors to exchange/complete (we agreed exchange+completion would be done same day).
The last update I had from my solicitor was exactly a week ago (02 April) where she told me:
So basically she told me the delay has nothing to do with COVID19... now if there are both buyers and sellers who are happy to proceed then is it normal for solicitors to treat this with no priority? I haven't replied to that point yet and was waiting for an update a week but I feel like maybe I do need to reply and be a bit "pushy" here or maybe not?...
Can you please advise if that sounds normal to you or not? I'm trying to separate all other factors such as emotional feelings, COVID19, lockdown etc. and treat this with a very unbiased judgement, but I find it difficult so would appreciate some feedback from others. Thanks!
After lots of thoughts I'd like to proceed, the current owners/sellers have agreed to pay rent on the property after completion until they move out.
From my end I'm ready as a cash buyer (well, remortgaged my 1st BTL but still I'm the one paying the cash for the property) - from their end I understood they are ready too, so the only thing left is for the solicitors to exchange/complete (we agreed exchange+completion would be done same day).
The last update I had from my solicitor was exactly a week ago (02 April) where she told me:
We are still at the very beginning stages of the transaction.
I am awaiting replies from the seller’s solicitor but this may take a week or so for them to come back to me on – possibly longer in the current climate.
I've asked if it's because of the COVID19 issue (which then would be reasonable), and she said:
I've asked if it's because of the COVID19 issue (which then would be reasonable), and she said:
No; it usually takes a week or so as it takes time for them to review and respond to enquiries but they also may have urgent matters that crop up here or there which will take priority – that is the same for us and the majority of firms. At the moment, it is still business as usual for us but it may slow down in the coming weeks. We still have completions and exchanges going through.
So basically she told me the delay has nothing to do with COVID19... now if there are both buyers and sellers who are happy to proceed then is it normal for solicitors to treat this with no priority? I haven't replied to that point yet and was waiting for an update a week but I feel like maybe I do need to reply and be a bit "pushy" here or maybe not?...
Can you please advise if that sounds normal to you or not? I'm trying to separate all other factors such as emotional feelings, COVID19, lockdown etc. and treat this with a very unbiased judgement, but I find it difficult so would appreciate some feedback from others. Thanks!
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Comments
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I dont know as I'm a ftb but my solicitor has exactly the same attitude. No go in them whatsoever. Its so frustrating, mine was appointed 7th Feb and done nothing. I feel like I need to start getting more assertive soon.Mortgage started August 2020 £69,700
Mortgage ends Aug 2050 MFW: Aug 2027
Current Balance: £58,678
MFW2020 #156 £723.13
MFW2021 #26 £1184.71
MFW2022 #11 £197.87
MFW2023 £785
MFW 2024 £528.15Determined to make it!1 -
What has your EA said?FtbDreaming said:I dont know as I'm a ftb but my solicitor has exactly the same attitude. No go in them whatsoever. Its so frustrating, mine was appointed 7th Feb and done nothing. I feel like I need to start getting more assertive soon.0 -
My solicitor is only dealing with priority cases eg the ones who have concluded missives (exchanged), facing financial hardship or on health grounds.
I have to put an email together setting out my full reasons for completing.
Scary part is he said he will conclude missives, leave date of entry (completion) as to be confirmed.
He wouldn't conclude missives a few weeks ago as im waiting on my mortgage offer being extended and at the time was waiting for another condition of my mortgage offer to be done (it was done today), but I'm waiting for my offer to be extended.
His reasoning is based on government / SRA guidelines, I've not gone through them since he emailed me to see exactly what they are saying about sales / purchases but nothing has jumped out on MSE about it.
I'm also FTB.Mortgage started 2020, aiming to clear 31/12/2029.0 -
MovingForwards said:My solicitor is only dealing with priority cases eg the ones who have concluded missives (exchanged), facing financial hardship or on health grounds.
Scary part is he said he will conclude missives, leave date of entry (completion) as to be confirmed.
He wouldn't conclude missives a few weeks ago as im waiting on my mortgage offer being extended and at the time was waiting for another condition of my mortgage offer to be done (it was done today), but I'm waiting for my offer to be extended.
His reasoning is based on government / SRA guidelines, I've not gone through them since he emailed me to see exactly what they are saying about sales / purchases but nothing has jumped out on MSE about it.Main problem in Scotland is that the Land Register has been largely shut down since they sent all the office-based staff home, so nobody can deal with paper applications. They're sorting out workarounds for that but until they're in place and everyone is comfortable I expect solicitors will be reluctant to settle transactions.Not sure how concluding missives with date of entry to be confirmed would work - makes it a fairly meaningless contract if nobody knows when it's meant to happen!1 -
@davidmcn I'm aware RoS have had issues as I've been carefully watching that, things appear to get getting back on track and beta testing has been done, but it's down to the solicitors to start registering for it and also using it.
-- Thank you for posting the alert when you did.
I don't understand how missives can be concluded either and it feels like their is a huge financial risk for me to even try unless another pointless term was added about not being able to get the extension and being able to withdraw without penalty.Mortgage started 2020, aiming to clear 31/12/2029.0 -
So based on all your experience it's safe to assume this is fairly normal? Am I correct?0
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I would say in general the fact (almost) everyone is working from home slows things down for various reasons, also more people off sick, some staff furloughed and the remainder having to pick work up, etc. And even at the best of times it can take longer than you'd like for people to respond to enquiries.
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Most businesses only have their skeleton staff at office. Even if this wasn't the case, enquires takes time + searches. If you actually want a solictor to do their job properly with your best interest in mind, stop expecting to exchange/complete in 1 week.I've heard some horror stories of solictors actually doing the above for quick cash. Then you are left with a botched house and digging up dirt you wish your solictor investigated. (cough, cough *new builds recommending a solictor*)1
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Thanks for the advice.LoveSauce said:Most businesses only have their skeleton staff at office. Even if this wasn't the case, enquires takes time + searches. If you actually want a solictor to do their job properly with your best interest in mind, stop expecting to exchange/complete in 1 week.I've heard some horror stories of solictors actually doing the above for quick cash. Then you are left with a botched house and digging up dirt you wish your solictor investigated. (cough, cough *new builds recommending a solictor*)
Just to let you know they've been working a month on this, not just 1 week, but I assume it's still more or less the same, correct?0 -
You do realise they have other work too, if they are a solicitor. They have cases and meetings before this lockdown and also cases that are non house elated tooMortgage free wannabe
Actual mortgage stating amount £75,150
Overpayment paused to pay off cc
Starting balance £66,565.45
Current balance £56099
Cc around £32004
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