Exchanging question

[Sarahmills85]

hello,

FTB here, we have had an update from our solicitor that after lots of enquiries at top of chain that the chain are now appearing to become ready to exchange. we have had completion statement & final report with figures of what's to be paid etc, we have not had any exact exchange date or completion date as yet, do we hold of sending any money until we have some dates set? tried calling the office but no luck so far, my bank will do a chaps payment so whenever we do it will reach them the same day

Thanks

If you send it to them they'll just hold it in their client account for you until everything is ready, so no harm in sending it sooner. But if you'd rather wait, just wait for them to return your call and they'll be able to tell you when to send it

(Conveyancing solicitor on mat leave here )

We were told to send over monies before we had an exchange date and our completion date wasn't confirmed either. We were in a major rush due to mortgage offers expiring so we just went ahead and did a same day transfer so that the money was there and ready to go. We ended up exchanging and completing the day after. Phew!

Not sure what the standard procedure is but this is what we had to do.

It's not normal to 'set' an exchange date in the way that a completion date has to be agreed by all parties involved. Exchange simply happens at the earliest point where everyone is ready.

In order to be ready to exchange your solicitor will need to have received your deposit funds.

I would just send it, it will only sit in the solicitors client account, and will be ready to exchange and you cant be accused of causing a delay.

Thank you all for your quick replies, really appreciate it x