How long does it take to exchange ?

[S101]

Hi we are currently waiting to exchange and are hopefully completing next week.

Just wondered how long it takes to exchange, we signed all our paperwork last week, as soon as we went back after Christmas hols.

Phoned yesterday and was told that the buyers were apparently going in yesterday afternoon to sign the contracts and give in a cheque for the deposit.

My solicitor said he would telephone and write once we had exchanged. How long does it take for the two solicitors to exchange ? Does anyone know ? We are apparently completing next week and I can't keep bothering my solicitor but I would like to know, as I can't completely book the removal company for next week until I know.

Advice Please !!

they "exchagne" over the p hone usually and then pop the contracts in the post

have all searches etc been done, mortgage offers etc? If so, they should exchagne pretty soon. Why not ring and ask the secretary when they are planning to exchange?

the buyers' solicitor might want to wait for the deposit cheque to clear before they exchange. this takes about 3 working days but some firms wait longer Just In Case

You can bother your solicitor - it's what you pay him for!

Good luck.

I know, but he did say that he will contact us when we had exchanged.

As to their mortgage, they aren't having one and have as far as we know done all the searches.

Is it common to leave the exchange so close to the completion date ?

I just hope they don't pull out and leave us high and dry !!

I never mind being "bothered" by cients - house purchases/sales are usually dealt with on a fixed fee basis, os do ring. Its on other cases where you pay an hourly rate where I'd avoid it!

you can exchange and compelte on the same day!

Ring. Now. Report back

I am a bit of a chicken and will wait until tomorrow morning, as I have to go out soon to a friends.

I will keep my fingers crossed and hope that he rings this afternoon and leaves a message.

If not I will ring tomorrow morning.

I can't ring now as they are on lunch.

wuss

I know but I can't wait until we move and don't want anything to go wrong.

We have already had to change our plans regarding moving.

We can't afford for anything to go wrong.

Fingers crossed !!

Is there a secretary/assistant ? Our conveyancing solcitor had an assistant who would happily answer such queries.

Yes, but it is but they tend to share offices with another company.

I will wait until tomorrow to ring.

Our exchange was held up by the other side's inexperienced solicitor. She decided at the very last minute that we had to have a completion certificate for an extension that was done prior to us buying the house and before current legislation came in (i.e. was not necessary) but because she got building control involved we had to wait. A simple indemnity policy would have sufficed if she had told us at the start.

OUr bitter experience is that often nothing happens unless you push for it to happen. You haven't indicated whether you are in a chain. Lucky you if you aren't but all sorts of things can hold up exchanges such as if the solicitors involved are part timers and their days at work don't coincide or if some legal problem comes up over boundaries or previous planning permission.

We have finally exchanged, does so this morning and completing on Friday.

Thank goodness.

Kept pushing the solicitor and bothering him.

Thanks for the advice