How do you know if Conveyancer is happy with queries sent?

mowgliisaG

Seems simple question, but final query answers were submitted from us to buyers Solicitor and Solicitors to their buyer...all contracts signed  and sent back everything done...how do we k ow if answers are satisfactory and we can move to exchange?

davidmcn

You ask them?

mowgliisaG

Easier said then done when Conveyancers do t answer phones or emails...who should co tact who first to set a date to exchange?

princeofpounds

You ask if they are ready to decide on an exchange date.

But in reality this can all take time - their solicitor may be waiting for third party information like searches and may not really study your answers until they have everything together. Then they may discuss with the buyer, and mortgage company if necessary. Then they may come back with follow-up enquiries.

Thrugelmir

You'll know soon enough if further enquiries are made. The oddest things can become issues towards the close. 

mowgliisaG

Thrugelmir said:

You'll know soon enough if further enquiries are made. 

So 4 in a chain...bottom is cash buyer buying our buyers home and we moving into a new build. We had further queries which have been sent back last week and our buyers had further questions that they sent back yesterday...everyone is waiting to exchange now...who makes the first move?? 

Thrugelmir

mowgliisaG said:

Thrugelmir said:

You'll know soon enough if further enquiries are made. 

So 4 in a chain...bottom is cash buyer buying our buyers home and we moving into a new build. We had further queries which have been sent back last week and our buyers had further questions that they sent back yesterday...everyone is waiting to exchange now...who makes the first move?? 

The EA's should be facilitating the transaction by communicating with the various parties in the chain. 

mowgliisaG

Thrugelmir said:

mowgliisaG said:

Thrugelmir said:

You'll know soon enough if further enquiries are made. 

So 4 in a chain...bottom is cash buyer buying our buyers home and we moving into a new build. We had further queries which have been sent back last week and our buyers had further questions that they sent back yesterday...everyone is waiting to exchange now...who makes the first move?? 

The EA's should be facilitating the transaction by communicating with the various parties in the chain. 

So there should be nothing else now but to exchange?? 

tink_1983

You need to call and talk to your solicitor. They will soon let you know when things are ready.
But this is not an exact science. 
One day it all seems like your ready to set exchange date.. 3 weeks later still not there ! 

mowgliisaG

Also does any deposit money actually need to be sent prior to exchange...most our equity is coming from house...so would we need to stump up 60k when we are only actually putting in 10k of our own and rest equity...or is it just the money from bottom of chain all the way through until completion 

badger09

Its normal for the deposit from the bottom of the chain to feed all the way through to the top of the chain on Exchange.
Top of the chain, or anyone else might insist on their 10%, but I think that's fairly unusual. We were at top of chain, deposit to us was about around £30k short  but we didn't insist on more. 
You have to find the rest & get it to your solicitor before completion.