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Exchange query..

Jmbrown4150
Jmbrown4150 Posts: 8 Forumite
in House buying, renting & selling
Hey all,
Got a question regarding exchange.

My solicitors are requesting original signed documents ( they are far away from me ) , post has been a nightmare and they have gone awol!

My question is; I am in touch with the vendors who want to complete ASAP. Could I not take the contract and TR1 to the vendors solicitors signed and then get the vendors to sign my contract and then for me to sign the other contract? Is this a stupid question to even ask my solicitor?
The vendors solicitors are near me so quite easy and the vendors are happy to do the above.

A lesson learned for next time, local solicitors required.

Thanks
Justin

Comments

  • Tiglet2
    Tiglet2 Posts: 2,470 Forumite
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    Just because you have been sent the contract/TR1 for signature and return doesn't mean you are ready to exchange. You need to send it back to your solicitor as they will want a signed copy for their file and they would only send the contract to the vendor's solicitor following exchange not before. If you send it directly to the vendor's solicitor, you are effectively agreeing to exchange before your solicitor is ready. The vendor's solicitor won't care, they want to sell.

    Are there any outstanding enquiries? Have you transferred your deposit?

    Your solicitor is acting for you. The vendor's solicitor is acting for the vendor. Please don't try to do their work for them, you're not helping and it sounds as though you don't understand the protocol.
  • G_M
    G_M Posts: 51,977 Forumite
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    In a few words (as the forum requires more than one word): No.
  • SmashedAvacado
    SmashedAvacado Posts: 1,262 Forumite
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    1) You could send your lawyer an email authorizing them to sign the contract on your behalf - so if you are in a hurry, that would be the quickest way of getting to exchange if you were otherwise ready to exchange in terms of the investigation etc.

    2) TR1 is only needed at completion - and often isnt prepared until after exchange. It is best you don't give this to anyone other than your lawyer because the TR1 only gets sent to the other side, after completion. As buyer, the TR1 isnt that important in any event - but that's not the issue here
  • Slithery
    Slithery Posts: 6,046 Forumite
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    SmashedAvacado wrote: »
    1) You could send your lawyer an email authorizing them to sign the contract on your behalf - so if you are in a hurry, that would be the quickest way of getting to exchange if you were otherwise ready to exchange in terms of the investigation etc.
    Could you?

    I know that you can arrange for a limited POA so that a solicitor can sign the contract for you, but I always believed that setting up this POA needed you to go to the solicitors in person beforehand thus negating the possibility of this in OP's situation.

    Or am I wrong?
  • G_M
    G_M Posts: 51,977 Forumite
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    Slithery wrote: »
    Could you?

    I know that you can arrange for a limited POA so that a solicitor can sign the contract for you, but I always believed that setting up this POA needed you to go to the solicitors in person beforehand thus negating the possibility of this in OP's situation.

    Or am I wrong?
    No - you're not wrong. You could not do this simply via an email.
  • SmashedAvacado
    SmashedAvacado Posts: 1,262 Forumite
    First Post First Anniversary
    G_M wrote: »
    No - you're not wrong. You could not do this simply via an email.

    erm - no i am not

    You can use a POA
    or a letter of authority - and an email can serve as a letter of authority

    Perhaps you haven't come across this - if you are a lawyer, have a look at plc on the subject (or google it) - plc says - "If the document is structured as simple contract (rather than a deed), then it would be possible for your client to authorise you to sign the document on their behalf as their agent without the need for a power of attorney. "

    A sale contract is a simple contract - whereas the TR1 obviously would need a POA .

    All the best x
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