Deed of Variation Nightmare

eleyevee

Hello! 

I’m hoping for some advice please.

We sold our new build house in Oct 21, bought on HTB scheme, and are nearing completion, apart from a deed of variation between us and the buyers regarding the estate charge placed upon the estate.

We have until 26th to complete before we have to revalue our property and pay more money to the HTB scheme in order to pay off that amount on 27th - understandably we want to get this over the line before then.

The deed of variation has been written, agreed and signed once by the management company (which took an age) and since then our buyers wanted changes made to it. 

Our solicitor received a copy in the post this week but it was signed by all parties except the management company. She says that we need this for her to do the undertaking to exchange and has asked us to chase it up with the management company.

Having seen how long a signature took beforehand, I am really worried that this is going to go over the 26th deadline. I want to know whether we are able to (as all parties have signed and management company have agreed to changes) push the signature on to our buyers to obtain after completion? 

This is the final piece! 

Thanks

Tiglet2

eleyevee said:

Hello! 

I’m hoping for some advice please.

We sold our new build house in Oct 21, bought on HTB scheme, and are nearing completion, apart from a deed of variation between us and the buyers regarding the estate charge placed upon the estate.

We have until 26th to complete before we have to revalue our property and pay more money to the HTB scheme in order to pay off that amount on 27th - understandably we want to get this over the line before then.

The deed of variation has been written, agreed and signed once by the management company (which took an age) and since then our buyers wanted changes made to it. 

Our solicitor received a copy in the post this week but it was signed by all parties except the management company. She says that we need this for her to do the undertaking to exchange and has asked us to chase it up with the management company.

Having seen how long a signature took beforehand, I am really worried that this is going to go over the 26th deadline. I want to know whether we are able to (as all parties have signed and management company have agreed to changes) push the signature on to our buyers to obtain after completion? 

This is the final piece! 

Thanks

I do not think that the buyer's solicitors will agree to that unfortunately.  

eleyevee

Tiglet2 said:

eleyevee said:

Hello! 

I’m hoping for some advice please.

We sold our new build house in Oct 21, bought on HTB scheme, and are nearing completion, apart from a deed of variation between us and the buyers regarding the estate charge placed upon the estate.

We have until 26th to complete before we have to revalue our property and pay more money to the HTB scheme in order to pay off that amount on 27th - understandably we want to get this over the line before then.

The deed of variation has been written, agreed and signed once by the management company (which took an age) and since then our buyers wanted changes made to it. 

Our solicitor received a copy in the post this week but it was signed by all parties except the management company. She says that we need this for her to do the undertaking to exchange and has asked us to chase it up with the management company.

Having seen how long a signature took beforehand, I am really worried that this is going to go over the 26th deadline. I want to know whether we are able to (as all parties have signed and management company have agreed to changes) push the signature on to our buyers to obtain after completion? 

This is the final piece! 

Thanks

I do not think that the buyer's solicitors will agree to that unfortunately.  

I thought this would be the answer but was hoping for a miracle in this never ending nightmare! 

Thank you for the response.

eddddy

You need to try chasing the Management Company (or maybe you've been doing that anyway).

The solicitor will probably just send the deed with a covering letter and wait for a reply. So you should perhaps call the management company to explain the urgency, check they've received the deed, find out who's dealing with it, when it will be signed and returned etc.,

Maybe you can look at the first deed that was signed to see the name of the person who signed it, and see if you can contact them (or their PA) directly. 

Personally, I would go for a friendlier "please can you help me out" approach, rather than an aggressive "get this done now" approach.


But... have the management company and landlords already agreed to the change in wording? If not, they may want their solicitor or in-house legal team to study the wording, before anyone will sign it. That will add time.

eleyevee

eddddy said:

You need to try chasing the Management Company (or maybe you've been doing that anyway).

The solicitor will probably just send the deed with a covering letter and wait for a reply. So you should perhaps call the management company to explain the urgency, check they've received the deed, find out who's dealing with it, when it will be signed and returned etc.,

Maybe you can look at the first deed that was signed to see the name of the person who signed it, and see if you can contact them (or their PA) directly.

Personally, I would go for a friendlier "please can you help me out" approach, rather than an aggressive "get this done now" approach.


But... have the management company already agreed to the change in wording? If not, they may want their solicitor or in-house legal team to study the wording, before anyone will sign it. That will add time.

Thanks for the response. I have been chasing the department that signed the last one (as they sent me a copy via email) pretty much every 3 hours - unfortunately I can only email them and I am being very very nice about it as I can imagine it’s probably very annoying.

My solicitor said she was expecting to receive a signed copy from all parties and it is only the management company who hasn’t signed, so that makes me think that they had agreed to the changes. These changes were being drawn up and dealt with by the buyers solicitors anyway, this is why I don’t understand why it’s landed back on our plate again.

Thanks