Waiting to exchange, completion is friday ...

[Evecob]

After what feels like going through hell and back we got the all clear to exchange last friday... our EA have said our buyers (bottom of chain) have been ready for a couple of weeks, the enquiry holding the chain up was with our purchase.
Turns out we are still waiting for the deposit from our buyer to reach their solicitor. We have asked for a timeline but not heard back.

The rest of the chain really want the reassurance of exchange before completion, does anyone know how long it can take to send the deposit and then exchange? Is there a chance we can exchange today or tomorrow?
Im trying not to think the worst, that our buyers are having cold feet!

You can technically exchange and complete on the same day, but generally banks usually say x amount of days to 'draw down' the mortgage money in order for completition.

So if that hasn't been done, and exchange still hasn't happened, it's unlikely you'll complete Friday. Check with your solicitor to see what's happening. The deposit will need to clear in the first buyer's solicitor's account and then all the way I up the chain before exchange I think. But it can depend on people's circumstances - ie if anyone is a cash buyer etc

Yeah. We have been notified of our money from.lender beingbreleased thursday ready for completion friday... its just our buyer not putting in the money required for solicitor.. we know they have 100k deposit themselves so them delaying exchange doesnt make sense to me when we are ready.

My worst fear is we hsve everything in the van and on the day find out they have pulled out cuz we havent exchanged!

We exchanged on Thursday and moved on Friday, when I called them on the Wednesday they were still waiting for my bank to sort the money!

Our solicitors have insisted on five working days between exchange and completion- or you can do same day. What do your solicitors say? Have you told the EA that your buyers haven’t released the deposit?

@Scarydinosaurs

Our solicitors have insisted on five working days between exchange and completion- or you can do same day. What do your solicitors say? Have you told the EA that your buyers haven’t released the deposit?

yes today.

The EA said he will find out more and get back to me but never did ... so I guess it's another chase tomorrow. It would be fine if our buyers solicitor or our buyers communicated they were waiting for completion day to exchange but they haven't. They only confirmed friday was ok to complete. Everyone else higher up the chain wants the reassurance of exchange sooner..

I’d chase EA and solicitors in the morning and find out what their plan is. Friday for completion needs to be confirmed as like you say- you’re all packed up and nowhere to go!