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What are the chances of me completing this month?

3 replies

newstartnewlifeforus · 10/10/2024 08:15

I am due to go away on holiday from the 27th for 2 weeks and really hoping we can complete before then.

Both solicitors and vendor are aware. It's already taken 14 weeks due to a couple of delays on the sellers side.

EA contacted me yesterday to inform me that she had spoken to the sellers solicitor who was preparing the replies to enquires yesterday and that the date would be accepted in principle.

I would be surprised if my solicitor reviews the paperwork today or tomorrow though so probably looking at next week now. Realistically, what are my chances of completing by the 25th? Is 2 weeks enough time for my solicitor to review all the replies, send to me/sign off, request mortgage funds etc? I'm thinking no but interested to hear other peoples thoughts?

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newstartnewlifeforus · 10/10/2024 08:15

To add, it's a no chain empty property.

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Frecklespy · 10/10/2024 10:14

It's difficult to say without knowing anything about the property or the circumstances as to why it's empty. For example, freehold, freehold with man co, leasehold, divorcing couple, probate property, second property, ex-rental etc.

The 14 weeks delay caused by the sellers is unfortunate, but the legal work still has to be done correctly and will only have started from when the draft contract paperwork was received by your solicitor.

Enquiries can take a long time. The seller's solicitor will need to refer a lot of the enquiries made by your solicitor to third parties, including your seller. Do you know if the seller has simply moved out of the property, are they acting as Executor for the owner who has passed away, or has the owner gone into a care home? Etc, etc.

Your solicitor does need to review the responses he receives before deciding whether he needs to raise additional enquiries for further clarification, i.e. a second round of enquiries to be made. If the responses are satisfactory, your solicitor will then compile a report on title to send to you.

The report on title will contain information about the property, together with documents for your signature. You should read this carefully before sending back signed documents to confirm that you are happy to proceed. After the solicitor receives the signed documents back, they will then start to discuss dates with you and the other side.

I would probably say that your timeline is tight, but without knowing how far along you are with the legal work, I wouldn't want to guess.

The EA, while trying to be helpful, is not involved with the legal work, so won't really know what still needs to be done or how long it will take. Their involvement once a sale is agreed is mainly to keep everyone happy and to smooth over any frustrations.

newstartnewlifeforus · 14/10/2024 14:03

@Frecklespy thanks for your message!

It's a freehold property, ex rental and has been empty for around a year.

I've already received my mortgage offer and the searches and survey have been completed.

My solicitor sent me a copy of the enquires and they looked (to me anyway) like standard, straight forward questions. Nothing overly complicated. The EA confirmed that the sellers solicitor had responded last Wednesday.

I understand my solicitor will need to review all the paperwork and be satisfied with the replies before we can proceed. Also understand there might be a 2nd round of enquires if she's not satisfied.

If she's happy though, I'm just wondering what the likelihood is of us completing by the 25th now. I feel in limbo and it's quite stressful not knowing. I don't even know if she's reviewed the answers yet. I have emailed again this morning and reminded them that I'd like to complete by the 25th if possible and asked if they can confirm if this is likely to happen now or not.

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