Exchange timescales

JustMe18

Hello. We are selling and buying a new property ( both shared ownership's, but the one we are buying is a new build), we have  started process and requested searches on the 8th of March and they came back on the 4th of April. Since we started process with solicitors, I hardly heard any updates, even though I have an online tracking tool for it, it doesn't say much, also solicitor doesn't say anything to me about proposed exchange etc. All she says is that there are still a lot of en queries still to answer on purchase and couple on sale. Should I be more pushy ? Our house is not built yet, but I am trying to do some plans about this summer etc . House will be ready in about a month time. Are these timescales normal? I remember when we bought our first SO property, process was very straightforward and only took couple of weeks to exchange.

propertyrental

When your solicitor has replies to all the enquiries and searches, he will forward it all to you at once to review.

Sending stuff piece-meal is labour intensive (hence inefficient and expensive).

pjs493

I've just received all the paperwork from the solicitor I'm instructing. In the terms of business it does say they won't give regular updates, just that they will update me when there is something to give an update on. For example, they point out that once the searches have been ordered it is down to how long the local authority take to do this; the time it takes is out of the firm's hands. 

It is very time intensive to call you, and all their other clients, every week just to say there is no update. Let the process take it's course and if you really do feel like weeks and weeks have gone by and you haven't heard anything, give them a quick call if you really feel you need to.

JustMe18

pjs493 said:

I've just received all the paperwork from the solicitor I'm instructing. In the terms of business it does say they won't give regular updates, just that they will update me when there is something to give an update on. For example, they point out that once the searches have been ordered it is down to how long the local authority take to do this; the time it takes is out of the firm's hands. 

It is very time intensive to call you, and all their other clients, every week just to say there is no update. Let the process take it's course and if you really do feel like weeks and weeks have gone by and you haven't heard anything, give them a quick call if you really feel you need to.

Yes I understand, searches done on the 4th of April and all came back. then she had 8 questions at the same time, but since then nothing...it's been another month and clearly these should be answered? I am control freak and need to know everything. Especially summer time and a lot of holidays planned, need to know estimated dates etc.  So post was about to ask , how long normally takes to exchange...

BarelySentientAI

JustMe18 said:

pjs493 said:

I've just received all the paperwork from the solicitor I'm instructing. In the terms of business it does say they won't give regular updates, just that they will update me when there is something to give an update on. For example, they point out that once the searches have been ordered it is down to how long the local authority take to do this; the time it takes is out of the firm's hands. 

It is very time intensive to call you, and all their other clients, every week just to say there is no update. Let the process take it's course and if you really do feel like weeks and weeks have gone by and you haven't heard anything, give them a quick call if you really feel you need to.

Yes I understand, searches done on the 4th of April and all came back. then she had 8 questions at the same time, but since then nothing...it's been another month and clearly these should be answered? I am control freak and need to know everything. Especially summer time and a lot of holidays planned, need to know estimated dates etc.  So post was about to ask , how long normally takes to exchange...

Why "clearly"?  Do you know what the questions were and who they were asked to?  Some questions are easy, some are much harder/longer.  Sometimes answers come back that make more questions, and the solicitor won't necessarily come back and tell you that because, after all, you're paying them to deal with it.

There is no 'normally' in the time to exchange.  Anywhere from 6 weeks to 6 months wouldn't be that unusual.

If I was in the middle of buying and selling, especially buying a house that isn't even supposed to be built for another month, then I wouldn't be planning any holidays at all this summer.

Tiglet2

Your solicitor will be making enquiries of the housing association/shared ownership group, which is an added party to the transaction.   These companies do not prioritise your move and will answer the enquiries in their own good time.  Neither you, nor your solicitor have any influence over how long they take to reply and often the replies, when received, don't answer the enquiry satisfactorily, so more enquiries have to be made.....

You are paying your solicitor to sell and buy the properties on your behalf.  They prefer to get on with the job in hand, rather than have to provide you with updates because of your need to be in control.  Just think how much time would be wasted if they had to update all their other clients every week - the consequence of that would be an even slower transaction.

With two shared ownership transactions, you are still early days, if this has only been going on since March.

JustMe18

BarelySentientAI said:

JustMe18 said:

pjs493 said:

I've just received all the paperwork from the solicitor I'm instructing. In the terms of business it does say they won't give regular updates, just that they will update me when there is something to give an update on. For example, they point out that once the searches have been ordered it is down to how long the local authority take to do this; the time it takes is out of the firm's hands. 

It is very time intensive to call you, and all their other clients, every week just to say there is no update. Let the process take it's course and if you really do feel like weeks and weeks have gone by and you haven't heard anything, give them a quick call if you really feel you need to.

Yes I understand, searches done on the 4th of April and all came back. then she had 8 questions at the same time, but since then nothing...it's been another month and clearly these should be answered? I am control freak and need to know everything. Especially summer time and a lot of holidays planned, need to know estimated dates etc.  So post was about to ask , how long normally takes to exchange...

Why "clearly"?  Do you know what the questions were and who they were asked to?  Some questions are easy, some are much harder/longer.  Sometimes answers come back that make more questions, and the solicitor won't necessarily come back and tell you that because, after all, you're paying them to deal with it.

There is no 'normally' in the time to exchange.  Anywhere from 6 weeks to 6 months wouldn't be that unusual.

If I was in the middle of buying and selling, especially buying a house that isn't even supposed to be built for another month, then I wouldn't be planning any holidays at all this summer.

Why not? We have 3 holidays planned, but I guess everyone is different. We can't live without holidays The house is built already, they are done some decoration work now, floors, kitchen etc. 

JustMe18

Tiglet2 said:

Your solicitor will be making enquiries of the housing association/shared ownership group, which is an added party to the transaction.   These companies do not prioritise your move and will answer the enquiries in their own good time.  Neither you, nor your solicitor have any influence over how long they take to reply and often the replies, when received, don't answer the enquiry satisfactorily, so more enquiries have to be made.....

You are paying your solicitor to sell and buy the properties on your behalf.  They prefer to get on with the job in hand, rather than have to provide you with updates because of your need to be in control.  Just think how much time would be wasted if they had to update all their other clients every week - the consequence of that would be an even slower transaction.

With two shared ownership transactions, you are still early days, if this has only been going on since March.

Well, the builder ( Taylor Whimpey) wanted us originally to exchange in 45 days. If they know, their solicitors are slow, why would they even expect this ? I don't mind waiting, it's just a bit pushy from both sides, that we need to exchange pretty soon, but I feel like nothing is being done ( at least nothing is happening on the app I have to track progress). 

Tiglet2

JustMe18 said:

Tiglet2 said:

Your solicitor will be making enquiries of the housing association/shared ownership group, which is an added party to the transaction.   These companies do not prioritise your move and will answer the enquiries in their own good time.  Neither you, nor your solicitor have any influence over how long they take to reply and often the replies, when received, don't answer the enquiry satisfactorily, so more enquiries have to be made.....

You are paying your solicitor to sell and buy the properties on your behalf.  They prefer to get on with the job in hand, rather than have to provide you with updates because of your need to be in control.  Just think how much time would be wasted if they had to update all their other clients every week - the consequence of that would be an even slower transaction.

With two shared ownership transactions, you are still early days, if this has only been going on since March.

Well, the builder ( Taylor Whimpey) wanted us originally to exchange in 45 days. If they know, their solicitors are slow, why would they even expect this ? I don't mind waiting, it's just a bit pushy from both sides, that we need to exchange pretty soon, but I feel like nothing is being done ( at least nothing is happening on the app I have to track progress). 

All developers want exchange within a certain number of days.  It's nothing new and is often totally unrealistic, but solicitors are used to it.  More importantly, exchange almost never happens within the developers timescale.  The developer will usually be ok (as they are used to it to) providing they see some progress.

Are you using the developer's recommended solicitor?  Not to be recommended, if you read the threads on here.  A developer's recommended solicitor will be biased towards the developer, who is sending lots of work their way, rather than a one-off client.  

JustMe18

Tiglet2 said:

JustMe18 said:

Tiglet2 said:

Your solicitor will be making enquiries of the housing association/shared ownership group, which is an added party to the transaction.   These companies do not prioritise your move and will answer the enquiries in their own good time.  Neither you, nor your solicitor have any influence over how long they take to reply and often the replies, when received, don't answer the enquiry satisfactorily, so more enquiries have to be made.....

You are paying your solicitor to sell and buy the properties on your behalf.  They prefer to get on with the job in hand, rather than have to provide you with updates because of your need to be in control.  Just think how much time would be wasted if they had to update all their other clients every week - the consequence of that would be an even slower transaction.

With two shared ownership transactions, you are still early days, if this has only been going on since March.

Well, the builder ( Taylor Whimpey) wanted us originally to exchange in 45 days. If they know, their solicitors are slow, why would they even expect this ? I don't mind waiting, it's just a bit pushy from both sides, that we need to exchange pretty soon, but I feel like nothing is being done ( at least nothing is happening on the app I have to track progress). 

All developers want exchange within a certain number of days.  It's nothing new and is often totally unrealistic, but solicitors are used to it.  More importantly, exchange almost never happens within the developers timescale.  The developer will usually be ok (as they are used to it to) providing they see some progress.

Are you using the developer's recommended solicitor?  Not to be recommended, if you read the threads on here.  A developer's recommended solicitor will be biased towards the developer, who is sending lots of work their way, rather than a one-off client.  

No , I am using one recommended by Estate agent, who is selling our house, as she already started first on a sale, I decided it will be easier, if she does the purchase as well, as our deposit and all the fees are coming from the sale. 
Developer is aware that we are doing everything we can, also I have already paid around £10k for my choices ( floors etc.). 

BarelySentientAI

JustMe18 said:

BarelySentientAI said:

JustMe18 said:

pjs493 said:

I've just received all the paperwork from the solicitor I'm instructing. In the terms of business it does say they won't give regular updates, just that they will update me when there is something to give an update on. For example, they point out that once the searches have been ordered it is down to how long the local authority take to do this; the time it takes is out of the firm's hands. 

It is very time intensive to call you, and all their other clients, every week just to say there is no update. Let the process take it's course and if you really do feel like weeks and weeks have gone by and you haven't heard anything, give them a quick call if you really feel you need to.

Yes I understand, searches done on the 4th of April and all came back. then she had 8 questions at the same time, but since then nothing...it's been another month and clearly these should be answered? I am control freak and need to know everything. Especially summer time and a lot of holidays planned, need to know estimated dates etc.  So post was about to ask , how long normally takes to exchange...

Why "clearly"?  Do you know what the questions were and who they were asked to?  Some questions are easy, some are much harder/longer.  Sometimes answers come back that make more questions, and the solicitor won't necessarily come back and tell you that because, after all, you're paying them to deal with it.

There is no 'normally' in the time to exchange.  Anywhere from 6 weeks to 6 months wouldn't be that unusual.

If I was in the middle of buying and selling, especially buying a house that isn't even supposed to be built for another month, then I wouldn't be planning any holidays at all this summer.

Why not? We have 3 holidays planned, but I guess everyone is different. We can't live without holidays The house is built already, they are done some decoration work now, floors, kitchen etc. 

Having several holidays booked across a period where you might not yet know whether the new house is actually ready for occupation, whether all the right answers get to your solicitors, whether your buyer wants a date that happens to be right in the middle of one of these holidays.... doesn't really match your "I'm a control freak and want everything to work straight away" that you were mentioning earlier.

If your holidays take priority, then that's your choice, but having a lot of days when you can't agree things (I'm sure you don't want to be moving house during one of the holidays) makes things slower and more complicated, not faster and easy to arrange.

JustMe18 said:

Tiglet2 said:

Your solicitor will be making enquiries of the housing association/shared ownership group, which is an added party to the transaction.   These companies do not prioritise your move and will answer the enquiries in their own good time.  Neither you, nor your solicitor have any influence over how long they take to reply and often the replies, when received, don't answer the enquiry satisfactorily, so more enquiries have to be made.....

You are paying your solicitor to sell and buy the properties on your behalf.  They prefer to get on with the job in hand, rather than have to provide you with updates because of your need to be in control.  Just think how much time would be wasted if they had to update all their other clients every week - the consequence of that would be an even slower transaction.

With two shared ownership transactions, you are still early days, if this has only been going on since March.

Well, the builder ( Taylor Whimpey) wanted us originally to exchange in 45 days. If they know, their solicitors are slow, why would they even expect this ? I don't mind waiting, it's just a bit pushy from both sides, that we need to exchange pretty soon, but I feel like nothing is being done ( at least nothing is happening on the app I have to track progress). 

Builder wants fast exchange because after that it is very expensive for you to back out.  They always do.  Then it looks like they're doing you a favour by relaxing the deadline a little when the solicitor is slow.

Have you read the multiple threads on here titled things like 'My house was supposed to be ready but now my mortgage is expiring'? Being nearly complete internally is a long way from actually being ready to move in to.