Deed of variation

[Deleted User]

I have been waiting to exchange contracts for 4 weeks however it is being held up the chain due to a deed of variation. 

I am not getting any more detail from solicitors / Estate agents other than still waiting on the deed of variation. It seems like the purchase is not progressing at all. 

Should I be concerned?

Flugelhorn

deeds of variation can take time as a range of people have to sign them - we had one done when buying a property with an estate charge to amend the rights of the management company  - it was signed by  us, the management company and the developers so took a while

[Deleted User]

Flugelhorn said:

deeds of variation can take time as a range of people have to sign them - we had one done when buying a property with an estate charge to amend the rights of the management company  - it was signed by  us, the management company and the developers so took a while

Did it take more than 3 months?

hazyjo

Think it added around 6-8 weeks when a seller I bought off had to get one.

Flugelhorn

Honestly can't remember - probably more like 6-8 weeks, though have heard of some taking longer 

eddddy

PhilSmith10 said:

I am not getting any more detail from solicitors / Estate agents other than still waiting on the deed of variation. It seems like the purchase is not progressing at all. 

If you want to get a better idea, you need to find out what the deed of variation relates to, and what's causing the hold-up.

In simple terms, a deed of variation is a piece of paper that needs to be signed and witnessed by two parties - that can be done in a day (or a few minutes even).

The challenge is getting both parties to agree on the terms that are to be written on the piece of paper.

It might take them a week to agree on the terms, or it might take a month or it might take a year - or they might never agree.


Once the terms are agreed, realistically, there'll be a further delay while one solicitor drafts the deed, and then the other solicitor checks it and maybe asks for changes, etc, etc. 

[Deleted User]

@hazyjo & @Flugelhorn thank you for your responses. It gives a rough idea of how long it may take.

eddddy said:

PhilSmith10 said:

I am not getting any more detail from solicitors / Estate agents other than still waiting on the deed of variation. It seems like the purchase is not progressing at all. 

If you want to get a better idea, you need to find out what the deed of variation relates to, and what's causing the hold-up.

In simple terms, a deed of variation is a piece of paper that needs to be signed and witnessed by two parties - that can be done in a day (or a few minutes even).

The challenge is getting both parties to agree on the terms that are to be written on the piece of paper.

It might take them a week to agree on the terms, or it might take a month or it might take a year - or they might never agree.


Once the terms are agreed, realistically, there'll be a further delay while one solicitor drafts the deed, and then the other solicitor checks it and maybe asks for changes, etc, etc. 

I have been trying to obtain more information what the DOV issue relates to - without much success! The EA is saying the hold up is "with the management company" and won't provide any more information. My solicitor is chasing for updates occasionally which comes to nothing.

Just_another_saver

I’m in the same boat but regarding a deed of easement with vendors onwards purchase. It’s been a sticking point for about 2 months now and counting. My solicitor can only advise it can take a while. Hopefully yours doesn’t take too long

[Deleted User]

Just_another_saver said:

I’m in the same boat but regarding a deed of easement with vendors onwards purchase. It’s been a sticking point for about 2 months now and counting. My solicitor can only advise it can take a while. Hopefully yours doesn’t take too long

Thanks - my biggest fear is this dragging on and my mortgage offer expiring! I hope your purchase will come through soon.

Flugelhorn

I think we found that there were quite a few of these being done over the course of a year - there are 400 properties on the estate so some turnover and since about 2018 each sale has involved some sort of DoV - my solicitor got the feeling that it wasn't news to the management company or the developers etc and the bit of paper was readily produced. 

saver776

Hey, did you get this sorted in the end?

I ask because I'm currently waiting for a DOV in a purchase. The document is ready and the sellers solicitor wants me to register it with Land Registry after I've exchanged, otherwise there is a long wait to get this done before exchanging. Is this a safe thing to do, is it normally the buyer who registers it at Land Registry?