Buyers reluctant to pay deposit

Slips36

youth_leader said:

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?

My solicitor got message about 3.00 that the upper chain not signed so will have to move dates, I thought there was no upper chain so I rang the EA and she rang the sellers who said the house I’m buying is not tied to the property they buying but by the time that got sorted it was around 4.00 but my buyers solicitor didn’t respond so no exchange.
I might try to get exchanged Monday and if possible keep 5th March completion. I emailed my solicitor near closing time but he didn’t reply back.
Never mind go again Monday. 

Slips36

Shall I ask my solicitor for exchange on Monday and keep the completion date 5th March agreed by all? The solicitors should have enough time to get the funds from the lenders.

vic_sf49

Removals firms aren't easy to come by on a Friday at short notice, especially with more completions trying to beat the (current unextended) stamp duty holiday.

I'd be making sure I had something organised, before exchange.

Thrugelmir

youth_leader said:

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?

Friday is the busiest days for completions . Always has been as it's most peoples favoured day of the week.  Exchanges therefore will be secondary as most solicitors offices will be extremely busy in the earlier part of the day effecting same. 

Slips36

We all agreed on completion date but no mention of exchange day.Do everyone have to agree on exchange day?
According to my solicitor the buyers solicitor didn’t contact them regarding exchange, maybe they were misled by my sellers solicitor message of further up the chain not signed.
What will happen on Monday, I ring my solicitor Monday morning and tell them to exchange, will they contact my buyer solicitor and my seller solicitor to arrange exchange?

Thrugelmir

Slips36 said:

We all agreed on completion date but no mention of exchange day.Do everyone have to agree on exchange day?

Until everybody in the chain is ready to exchange then a definitive completion date cannot be set. A completion date maybe penciled in that everybody uses their best endeavours to achieve. Unfortunately often real life gets in the way for one reason or another. 

Tiglet2

Slips36 said:

We all agreed on completion date but no mention of exchange day.Do everyone have to agree on exchange day?
According to my solicitor the buyers solicitor didn’t contact them regarding exchange, maybe they were misled by my sellers solicitor message of further up the chain not signed.
What will happen on Monday, I ring my solicitor Monday morning and tell them to exchange, will they contact my buyer solicitor and my seller solicitor to arrange exchange?

Has your solicitor asked you for your authority to exchange?  Or are you just giving them your authority to exchange even though they haven't requested it?  

The most important date is completion day.  There is no exchange day.   They are working towards the agreed completion date and will exchange as and when they and the other solicitor are ready.

Slips36

Tiglet2 said:

Slips36 said:

We all agreed on completion date but no mention of exchange day.Do everyone have to agree on exchange day?
According to my solicitor the buyers solicitor didn’t contact them regarding exchange, maybe they were misled by my sellers solicitor message of further up the chain not signed.
What will happen on Monday, I ring my solicitor Monday morning and tell them to exchange, will they contact my buyer solicitor and my seller solicitor to arrange exchange?

Has your solicitor asked you for your authority to exchange?  Or are you just giving them your authority to exchange even though they haven't requested it?  

The most important date is completion day.  There is no exchange day.   They are working towards the agreed completion date and will exchange as and when they and the other solicitor are ready.

My solicitor requires me to ring them if I want to exchange also they want my wife’s permission. So if I ring them Monday morning for completion on Friday, is it doable?

Tiglet2

Slips36 said:

Tiglet2 said:

Slips36 said:

We all agreed on completion date but no mention of exchange day.Do everyone have to agree on exchange day?
According to my solicitor the buyers solicitor didn’t contact them regarding exchange, maybe they were misled by my sellers solicitor message of further up the chain not signed.
What will happen on Monday, I ring my solicitor Monday morning and tell them to exchange, will they contact my buyer solicitor and my seller solicitor to arrange exchange?

Has your solicitor asked you for your authority to exchange?  Or are you just giving them your authority to exchange even though they haven't requested it?  

The most important date is completion day.  There is no exchange day.   They are working towards the agreed completion date and will exchange as and when they and the other solicitor are ready.

My solicitor requires me to ring them if I want to exchange also they want my wife’s permission. So if I ring them Monday morning for completion on Friday, is it doable?

That's not what i asked you.  

I already advised you this morning that you have to give authority to exchange, but has your solicitor actually already requested you to give your authority?

Slips36

Tiglet2 said:

Slips36 said:

Tiglet2 said:

Slips36 said:

We all agreed on completion date but no mention of exchange day.Do everyone have to agree on exchange day?
According to my solicitor the buyers solicitor didn’t contact them regarding exchange, maybe they were misled by my sellers solicitor message of further up the chain not signed.
What will happen on Monday, I ring my solicitor Monday morning and tell them to exchange, will they contact my buyer solicitor and my seller solicitor to arrange exchange?

Has your solicitor asked you for your authority to exchange?  Or are you just giving them your authority to exchange even though they haven't requested it?  

The most important date is completion day.  There is no exchange day.   They are working towards the agreed completion date and will exchange as and when they and the other solicitor are ready.

My solicitor requires me to ring them if I want to exchange also they want my wife’s permission. So if I ring them Monday morning for completion on Friday, is it doable?

That's not what i asked you.  

I already advised you this morning that you have to give authority to exchange, but has your solicitor actually already requested you to give your authority?

No, the first time was I emailed him on Thursday to arrange exchange with the agreed completion date of 5th March. He emailed me to ring his office and his assistant also wanted my wife’s permission. Bit strange has my previous solicitors never asked my wife’s permission. The buyers transferred deposit money about 12:00 so probably reached his solicitor account around 4:00; too late for exchange so tried again but failed to exchange again. So try again on Monday.