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Original poster

How long from report on title to exchange?

9 replies

mussinboots · 13/08/2022 00:03

We've been waiting for our incredibly slow solicitor to catch up with everyone. She's told us that she'll be writing a report on title before any thoughts on exchange of contracts can be entertained. Does anyone know how long this takes? I want us to exchange asap but she doesn't answer her phone or respond to emails until she feels like contacting us. Looking for some reassurance.

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Andithoughtiwasspecial · 13/08/2022 06:25

I understand the want to be certain you have the house but until you have the report you do not have the full picture of what you are buying. How long ago was the offer accepted? When were contracts received? Searches? Mortgage offer? Replies to any enquiries? What type/tenure of property are you buying? Urban or rural?

SerotinaPickeler · 13/08/2022 07:00

We received our report on title and report on searches yesterday along with all supporting documents. This is 6 weeks on from offer. 3 properties in the chain, none with a mortgage. Exchange not been mentioned yet. EA says probably another 6 weeks to completion as at least one of the solicitors involved is 'old school' so we're all moving at their pace. People involved appear to be going on holiday as well. Just going with the flow......

Original poster
mussinboots · 13/08/2022 08:19

Andithoughtiwasspecial · 13/08/2022 06:25

I understand the want to be certain you have the house but until you have the report you do not have the full picture of what you are buying. How long ago was the offer accepted? When were contracts received? Searches? Mortgage offer? Replies to any enquiries? What type/tenure of property are you buying? Urban or rural?

Offered late April, searches applied in early May and returned mid May. All enquiries addressed in June/July. One of our party's mortgage offer only came in last week though. I'm assuming this is a pre populated document to fill in? Regardless, I really, really want to exchange for a bit of peace of mind but have no choice for the solicitor to tell us when she's ready :/

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MinnieMountain · 13/08/2022 11:14

Actually writing the report on title takes 1-2 hours depending on the property (I do that for colleagues rather than having my own files).
When she’ll get round to it is a different matter.
Is your chain as a whole ready to talk about a completion date? The estate agent can find that out for you.

Nerdippy · 13/08/2022 11:58

Preparing the report on title is where they collate all the paperwork on the property, including documents for you to read - e.g. the searches, property information form, copies of the enquiries, any legal documents such as the title, any old conveyances or transfers together with documents for you to sign, the contract, the mortgage deed, SDLT form and any other paperwork/checklists that the solicitor needs in order to exchange. The report will be a document detailing (hopefully in layman's terms) what you are buying and what the accompanying documents/paperwork mean. You should read this in conjunction with the documents as there will be instructions on what you need to do.

The report on title means your solicitor has completed most of his due diligence and once the signed documents are returned, they are usually happy to start talking dates. This is obviously dependent on everyone else being at this stage too. So, a couple of weeks if everyone is ready, more if not.

Original poster
mussinboots · 15/08/2022 01:41

MinnieMountain · 13/08/2022 11:14

Actually writing the report on title takes 1-2 hours depending on the property (I do that for colleagues rather than having my own files).
When she’ll get round to it is a different matter.
Is your chain as a whole ready to talk about a completion date? The estate agent can find that out for you.

Yes, everyone wants to complete at some point WB 22/08 but exchange needs to happen before then and I was hoping and praying it would be at some point this week so we have enough time to pack.

Reassuring to hear the ROT is doable in a couple of hours vs days/weeks! Thanks for this! I might have to be that annoying person that calls everyday this week to check what's happening!

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Original poster
mussinboots · 15/08/2022 01:43

Nerdippy · 13/08/2022 11:58

Preparing the report on title is where they collate all the paperwork on the property, including documents for you to read - e.g. the searches, property information form, copies of the enquiries, any legal documents such as the title, any old conveyances or transfers together with documents for you to sign, the contract, the mortgage deed, SDLT form and any other paperwork/checklists that the solicitor needs in order to exchange. The report will be a document detailing (hopefully in layman's terms) what you are buying and what the accompanying documents/paperwork mean. You should read this in conjunction with the documents as there will be instructions on what you need to do.

The report on title means your solicitor has completed most of his due diligence and once the signed documents are returned, they are usually happy to start talking dates. This is obviously dependent on everyone else being at this stage too. So, a couple of weeks if everyone is ready, more if not.

Everything legal was completed a while ago and we were just waiting on one of the chain to receive their mortgage offer before things could be signed off. I'm really hoping it the report takes our solicitor a few hours this week vs weeks as you suggest 🥴

OP posts:
Nerdippy · 15/08/2022 08:58

mussinboots · 15/08/2022 01:43

Everything legal was completed a while ago and we were just waiting on one of the chain to receive their mortgage offer before things could be signed off. I'm really hoping it the report takes our solicitor a few hours this week vs weeks as you suggest 🥴

Show quote history

Sorry, I think you have misunderstood. The report doesn't take weeks to prepare, but you have to allow a couple of weeks to receive the report, read it, sign the documents, return them, as does everyone else in the chain, then the solicitor may well do a final review of the file, anything missing to be chased, set it up for exchange, making sure mortgage monies are ordered etc. That is why I said a couple of weeks - for exchange to take place and completion date set.

Original poster
mussinboots · 15/08/2022 15:03

Thank you all- We received all our paperwork (and there's lots of it) today! Fingers crossed for exchange- I'm petrified.

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