Buyer in transaction process

G0ldFiSh_4

I am the buyer in the sales process. Kindly can someone advice me on the following:-

1. After I have completed the Land Transaction Return Form, mortgage deed, contract and completion statement, how long will it take for completion? Do my solicitors or the seller solicitors undertake any further checks/enquiries before completion- what can delay completion?

2.  Do my solicitors or the seller solicitors undertake any further checks/enquiries before completion- what can delay completion?

3. I have heard that in some cases, completion can get cancelled- is it true?

Thanks

Hoenir

1. How many parties in the chain above you ?  

2. When all parties involved buyers. sellers, lenders are satisfied then exchange will be agreed and a completion date set. 

3. Rarely.  Would take an exceptional set of cirumstances for it to happen. 

EssexHebridean

In 16 years working in a solicitors office I can only recall one transaction where completion was cancelled - this was an instance where a client was buying a new build and the developer went into administration and work ceased on the development. Mercifully for her, the administrators were willing to give deposits back, albeit that was a lengthy process. Incredibly unusual though. 

G0ldFiSh_4

Hoenir said:

1. How many parties in the chain above you ?  

2. When all parties involved buyers. sellers, lenders are satisfied then exchange will be agreed and a completion date set. 

3. Rarely.  Would take an exceptional set of cirumstances for it to happen. 

1. No parties in the chain above me.

2. Ok

3. Ok.

Thank you.