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Searches stalling everything (Kingston) can we conditionally exchange?

gab3x
gab3x Posts: 203 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
in House buying, renting & selling
My solicitors applied for searches a month ago (Kingston) and still nothing back. 
This is now stalling the exchange as all other processes have been completed.
Does anyone have experience with Kingston lately, how long did it take you to get your searches back?
Is it possible to exchange before searches but somehow make it conditional on searches coming back OK?
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Comments

  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 20 November 2020 at 10:28AM
    gab3x said:
    Is it possible to exchange before searches but somehow make it conditional on searches coming back OK?
    Yes. Or just get search insurance (if that's acceptable to your lender). 
  • eddddy
    eddddy Posts: 18,490 Forumite
    Part of the Furniture 10,000 Posts Name Dropper

    If you want to do a conditional exchange, everyone in the chain will need to agree.

    Essentially, if the searches show up something unacceptable, all the transactions in the chain will be cancelled.
  • Sandtree
    Sandtree Posts: 10,628 Forumite
    10,000 Posts Fourth Anniversary Name Dropper
    Are you in a chain yourself?

    What advantage do you think you’ll get by conditionally exchanging?
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    Coming soon:
    They still aren't back. Can I conditionally complete?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    gab3x said:
    My solicitors applied for searches a month ago (Kingston) and still nothing back. 

    That's not abnormal at the best of times. 
  • gab3x
    gab3x Posts: 203 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Thrugelmir said:
    gab3x said:
    My solicitors applied for searches a month ago (Kingston) and still nothing back. 

    That's not abnormal at the best of times. 
    In Hammersmith and Fulham it took them 2 weeks to come back :(
  • gab3x
    gab3x Posts: 203 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    AdrianC said:
    Coming soon:
    They still aren't back. Can I conditionally complete?
    Very good point! :smile:
  • gab3x
    gab3x Posts: 203 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Sandtree said:
    Are you in a chain yourself?

    What advantage do you think you’ll get by conditionally exchanging?
    My buyer needs 2 weeks from exchange to completion in order to draw some funds. My seller has a deadline after which they cannot move until January. I would be worried moving in early Jan because of Brexit and because it is harder for me to get time off. There are no other parties in the chain.

    Conditionally exchanging would mean we could respect everyone's red lines and we manage to move this year, PROVIDING the searches do come back prior to Completion (would be 3 weeks from now) and give enough time for solicitors to resolve any additional enquiries which inevitably they will have.
  • gab3x
    gab3x Posts: 203 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    davidmcn said:
    gab3x said:
    Is it possible to exchange before searches but somehow make it conditional on searches coming back OK?
    Yes. Or just get search insurance (if that's acceptable to your lender). 
    I would avoid search insurance as this means you can be saddled with a problem until you sell and no guarantees for compensation for it.
  • FinallyStoppedLurking
    FinallyStoppedLurking Posts: 285 Forumite
    100 Posts Name Dropper
    The risk to everyone of the chain collapsing is almost the same if you have a conditional exchange.

    Either get Indemnity insurance or just wait it out. 
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