Soon to be completed

Sncjw

Hi everyone. 

So I’ve contacted my solicitor to let him know I have requested to close my help to buy isa and to get the closing statement. 

I also asked him when it is likely to have completed everything. He said next week should be ok. We have sent the contracts from out solictor back to him via posting through the door so we know they have it.
we are waiting on the vendors side to come through. 

Can anyone explain that process . So we get their contracts and sign it. Send it back to our solicitor who sends theres back to them. Then when does he request the deposit money as he is suggesting to go with 5% then pay the rest when we complete but he did mention next week could be all completed.

the house is empty and we want it so we can get moving once lockdown is over.

any info would be great 

Slithery

Sncjw said:

So we get their contracts and sign it. Send it back to our solicitor who sends theres back to them.

Nope. You've already signed your copy.

Sncjw

Yes but it has space for vendors dignities . We haven’t had theres yet 

greatcrested

You sign your copy and give to your solicitor to store.

The vendor signs their copy and give to their solicitor to store.

When all is ready, the 2 solicitors speak on the phone, agree the Completion date and add that to the contracts, and agree to 'Exchange'. At that point the contract becomes binding on you both.

The solicitors then send each other their client's signed contracts.

Completion takes place on the date in the contract (which may be the same day, a week later, 19 days later, or whatever you have agreed.

You will not actually see the vendors signed contract till all the paperwork is forwarded to you by your solicitor after Completion.

Tiglet2

There will be two contracts, one is sent to you and one is sent to the sellers.  You each sign your copy and return to your respective solicitor.  I assume you are simultaneously exchanging and completing, in which case the solicitors will post each other the contract by post once exchange/completion has taken place (the sellers' solicitor will also post the sellers' signed transfer to your solicitor). 

Slithery

Sncjw said:

Yes but it has space for vendors dignities . We haven’t had theres yet 

No, but they will have signed their copy and sent it to their solicitors.
You don't both need to sign the same copy, as long as a copy of the same contract has been signed by both parties then you're good to go.

Sncjw

I don’t know if we are exchanging and completing same day. All he said is close my isa get the statement and could be next week when we complete. It’s very confusing