Exchanging contracts in lockdown - covid 19 clause?!

EH81

Hi 

I was hoping for some advice (apologies if already covered but there was a lot of posts to read through!) 
I am currently in a 5 person chain - all was progressing well and we were near on at the stage of exchange just as lock down hit. We are now in a situation where some of the solicitors in the chain are happy to proceed with exchange (and we work towards a completion date when we have more updates etc) with a Covid - 19 clause - however other solicitors in the chain are refusing to proceed due to the uncertainty of the clause and therefore we have hit a wall. 

Anyone else going through the same thing? Know much about the covid 19 clause? 

Any advise would be really appreciated.
TIA 
Emma

sharpe106

What does the clause actually say?

diggingdude

most solicitors are advising same day exchange and completion 

spenda

diggingdude said:

most solicitors are advising same day exchange and completion 

During lock down or after?

EH81

That’s the problem - we haven’t seen sight of it! We have heard that some of the solicitors in the chain are prepared to use it - however our solicitor has said they won’t use it as it doesn’t give legal certainty which is the whole point of exchange! Solicitor has not responded to any further messages. 

There is references to it on the law society’s web site - however this says it should only be used if you exchanged pre lockdown and are now stuck between exchange and completion .. which is why was hoping for some guidance on anyone else’s experience as I am clueless now! 

c9roline

Jumping onto this post from a while back.. we are planning to exchange tomorrow! Today our buyers solicitor has requested a Covid rider be agreed and we are ok with it but our seller, developer and no chain, has refused. I’m not sure where this leaves us If the buyers will need to to move forward or if we then have to wait in until January and exchange and complete same day.
 If we do this how would be able to book a removal company knowing that if exchange doesn’t happen resulting in a completion delay, we lose our £1000 for the removals?

any advice from those who have gone through this? Thanks!

Thrugelmir

c9roline said:

Jumping onto this post from a while back.. we are planning to exchange tomorrow! Today our buyers solicitor has requested a Covid rider be agreed and we are ok with it but our seller, developer and no chain, has refused. I’m not sure where this leaves us If the buyers will need to to move forward or if we then have to wait in until January and exchange and complete same day.
 If we do this how would be able to book a removal company knowing that if exchange doesn’t happen resulting in a completion delay, we lose our £1000 for the removals?

any advice from those who have gone through this? Thanks!

And your solicitors guidance is? 

c9roline

Thrugelmir said:

c9roline said:

Jumping onto this post from a while back.. we are planning to exchange tomorrow! Today our buyers solicitor has requested a Covid rider be agreed and we are ok with it but our seller, developer and no chain, has refused. I’m not sure where this leaves us If the buyers will need to to move forward or if we then have to wait in until January and exchange and complete same day.
 If we do this how would be able to book a removal company knowing that if exchange doesn’t happen resulting in a completion delay, we lose our £1000 for the removals?

any advice from those who have gone through this? Thanks!

And your solicitors guidance is? 

Not heard back from him yet but we have asked what have others done In these circumstances! We want to exchange tomorrow so I’m just trying to get some ideas of ways around it! 

Thrugelmir

c9roline said:

Thrugelmir said:

c9roline said:

Jumping onto this post from a while back.. we are planning to exchange tomorrow! Today our buyers solicitor has requested a Covid rider be agreed and we are ok with it but our seller, developer and no chain, has refused. I’m not sure where this leaves us If the buyers will need to to move forward or if we then have to wait in until January and exchange and complete same day.
 If we do this how would be able to book a removal company knowing that if exchange doesn’t happen resulting in a completion delay, we lose our £1000 for the removals?

any advice from those who have gone through this? Thanks!

And your solicitors guidance is? 

Not heard back from him yet but we have asked what have others done In these circumstances! We want to exchange tomorrow so I’m just trying to get some ideas of ways around it! 

What's the urgency in exchanging tomorrrow?  I would imagine your solicitor and others will be rather busy with completions.