Buyers reluctant to pay deposit

Seashell517

Slips36 said:

unforeseen said:

My solicitor hasn’t requested deposit from me 

Have you asked them whether they want it?
You seem to be very active in wanting your buyer to do things but lackadaisical in some of the things that you should be doing. 
Get YOUR house in order and then you can complain about your buyer. 

NO, I haven’t ask my solicitors, surely it’s their job to ask for my deposit. I emailed  him if there was any outstanding issues before we go to exchange and he said no issues.

I asked about my deposit, conveyancer said go ahead, so I then sent the full 10% because I'd rather have extra money with the solicitor then not enough.

Slips36

Seashell517 said:

Slips36 said:

unforeseen said:

My solicitor hasn’t requested deposit from me 

Have you asked them whether they want it?
You seem to be very active in wanting your buyer to do things but lackadaisical in some of the things that you should be doing. 
Get YOUR house in order and then you can complain about your buyer. 

NO, I haven’t ask my solicitors, surely it’s their job to ask for my deposit. I emailed  him if there was any outstanding issues before we go to exchange and he said no issues.

I asked about my deposit, conveyancer said go ahead, so I then sent the full 10% because I'd rather have extra money with the solicitor then not enough.

My deposit will be 5k, so I’m assuming my conveyancer had the ok to use my buyers deposit of 25.5k. I’m willing to pay it but he hasn’t asked and he seems very careful in his work. I rang them this morning to give permission to exchange they also wanted my wife’s permission  and nothing was said about deposit.

Tiglet2

Slips36 said:

unforeseen said:

My solicitor hasn’t requested deposit from me 

Have you asked them whether they want it?
You seem to be very active in wanting your buyer to do things but lackadaisical in some of the things that you should be doing. 
Get YOUR house in order and then you can complain about your buyer. 

NO, I haven’t ask my solicitors, surely it’s their job to ask for my deposit. I emailed  him if there was any outstanding issues before we go to exchange and he said no issues.

Your buyer's deposit will very likely be passed up the chain, so a top up may not be needed for exchange, providing your vendor/vendor's solicitor is agreeable.  Your solicitor will clarify that, but you may need to check that they don't need anything from you.  Sounds like they don't from your post.  Obviously that will mean less than a 10% deposit going forward, but most people have their deposits wrapped up in the equity, so any shortfall will be paid on completion with the proceeds.

Slips36

More problems, hoping to exchange today but my solicitor got message from sellers solicitor ‘further up the chain are not signed, looking like dates need to move’
I thought there was no upper chain has it’s empty house. Rang EA and she rang the owners who said the house I’m buying is not tied to that chain.
The sellers solicitor emailed that the seller was willing to break the chain and this was forwarded to my buyers solicitor but she didn’t act on it and no exchange took place.

will it be possible to exchange on Monday and keep the 5th March completion date?

Seashell517

Slips36 said:

More problems, hoping to exchange today but my solicitor got message from sellers solicitor ‘further up the chain are not signed, looking like dates need to move’
I thought there was no upper chain has it’s empty house. Rang EA and she rang the owners who said the house I’m buying is not tied to that chain.
The sellers solicitor emailed that the seller was willing to break the chain and this was forwarded to my buyers solicitor but she didn’t act on it and no exchange took place.

will it be possible to exchange on Monday and keep the 5th March completion date?

You can both exchange and complete on March 5th, if 'the chain' agrees that that is acceptable.

Slips36

Seashell517 said:

Slips36 said:

More problems, hoping to exchange today but my solicitor got message from sellers solicitor ‘further up the chain are not signed, looking like dates need to move’
I thought there was no upper chain has it’s empty house. Rang EA and she rang the owners who said the house I’m buying is not tied to that chain.
The sellers solicitor emailed that the seller was willing to break the chain and this was forwarded to my buyers solicitor but she didn’t act on it and no exchange took place.

will it be possible to exchange on Monday and keep the 5th March completion date?

You can both exchange and complete on March 5th, if 'the chain' agrees that that is acceptable.

Well it’s just my first time buyer and me and empty house sellers. Might go for exchange on Monday and completion on a Friday 5th March.
Will the mortgage lenders release the money for completion?
Is there short notice removals?

Slips36

Absolutely shattered today, had high hopes.. Friday horrible day to exchange.

MaryNB

Slips36 said:

Seashell517 said:

Slips36 said:

More problems, hoping to exchange today but my solicitor got message from sellers solicitor ‘further up the chain are not signed, looking like dates need to move’
I thought there was no upper chain has it’s empty house. Rang EA and she rang the owners who said the house I’m buying is not tied to that chain.
The sellers solicitor emailed that the seller was willing to break the chain and this was forwarded to my buyers solicitor but she didn’t act on it and no exchange took place.

will it be possible to exchange on Monday and keep the 5th March completion date?

You can both exchange and complete on March 5th, if 'the chain' agrees that that is acceptable.

Well it’s just my first time buyer and me and empty house sellers. Might go for exchange on Monday and completion on a Friday 5th March.
Will the mortgage lenders release the money for completion?
Is there short notice removals?

Same day exchange and completion is very common, especially during the pandemic. People are worried something could happen between exchange and completion (e.g. buyer is furloughed) so they're cutting the time down to reduce this risk. There should be no issue getting the funds in time. I exchanged the day before completion. My solicitor requested release of funds a few days before exchange and my bank released them within 3 days. While banks often request say 5 days notice, I understand strings can be pulled to shorten this time down if completion is looming. 

Slips36

I wonder if my buyer and seller failed to let  their solicitors know about exchange today.
I rang mine this morning has they need you to ring them if you want to exchange.
I will email both EA Monday morning to ask the buyer and seller to phone or email their solicitor for exchange. Is Monday easier for exchange?

youth_leader

I'm sorry Slips36 seeing your post I hoped it was because you have exchanged.  Friday is one of the most common days to exchange from what I've read on here.  The solicitors organise the exchange between them, so I don't understand why it's not happening, what is yours saying?