I’ve asked my Solicitors but they are so terrible that by the time they reply in three working days I’ll have stewed on it for way too long!
I’m buying a property (sellers already moved into rented so need very little notice) and selling mine to a family member (who has nothing to sell). We’re almost at the end of a very long drawn out process and we’re now coming to sorting an exchange.
My sellers are keen to push for completion in November, which would be fine for me, but I know my buyers solicitors are still waiting for one bit of info (should be sorted early next week) and then need to do their final checks.
My question is - if I agree to exchange on the house I’m buying, on the last day of November, what happens if my buyers solicitors aren’t ready by then?
Does the solicitor at the bottom of the chain need to set exchange date first, or can a provisional one be agreed higher up the chain and then delayed if the other solicitors can’t catch up by then?
There’s two slight complications - one is that my solicitors and the sellers solicitors are both quite slow to react despite pushing - my buyers solicitors work quite a lot quicker.
The other is that my solicitors and sellers solicitors are both happy to do sameday exchange and completion, whereas my buyers want 5 days between the two.
Does anyone have any advice they can offer please?