Last minute paperwork might delay completion

W0rryW4rt

We completed on the sale of our previous property just before Christmas and the week of completion was a nightmare with the solicitor’s compliance team spotting a missing yet important piece of paperwork at the last minute. I managed to get my management company to produce the paperwork and dropped it off personally to my solicitor’s office on the morning of proposed completion. All a bit of a panic with no confirmation throughout the week that we would be able to complete.

We are now looking to complete on our onward purchase (we separated the two out to ‘reduce stress’ after previous failed sales) and the exact same thing has happened. Dates suggested and agreed for exchange/ completion and then a sudden need for an important piece of paperwork that we can’t proceed without.

Is this normal? It seems absolutely bonkers that this has happened again, throwing everything up in the air at the last minute and making planning impossible!

I suppose it isn’t necessarily a question anyone can answer…I am just wondering if this if normal.

user1977

Depends on the nature of the "paperwork"! But yes, often things only get spotted during the final review/checks, or simply hadn't arisen previously.

W0rryW4rt

Thank you. The paperwork is a potential deed of covenant- depending on whether the previous landowner replies to say whether it is needed or not. The management company say it isn’t required but an old deed of transfer (when the freehold was purchased) suggests perhaps it is. All very confusing.

Tiglet2

What can happen is that all the work leading up to exchange is done by 'the team' headed up by a Solicitor. When the transaction is nearing that point when an exchange and completion date can be agreed, the whole file is checked over by the Solicitor for a final time before they sign it off as ready to exchange. It seems that both times, they have checked the file and found something missing that is necessary before exchange can take place.

It is frustrating, but the Solicitor has to make sure that they have everything in order before exchanging, which (believe it or not!) is for your benefit.