How long from my solicitor receiving contract to getting the key?

maki2011

hi all.

search all similar thread. but still not get any.


I paid the booking deposit end of April.

Yesterday my solicitor receive the contract from the vender's solicitor.

Normally, from now on how long we can finish and get the key ( i am a cashier buyer)


thanks

PixelTrawler

Could still be any amount of time because you signing it means nothing.
Its when they sign also thats important.

You need to pop down to the solicitor and get it signed. Your solicitor will send it to the vendors solicitor. And it'll be signed by the Vendor if they are happy to do so.

Nothing is final until they sign it.

And who knows what delays can happen.

However, when contracts are exchanged (signed by both parties) and the money has cleared over to the vendor you should get the keys. It could be just 24 hours for all that to happen.

TheDriver

typically its 28 days but contract will say it (once both have signed).......

Trish56

If your Solicitor only received the contract yesterday he/she will have to check same and raise any queries re planning etc. The contract should also state the closing date agreed by both parties. Once the queries are dealt with by the vendors Solicitor and your Solicitor is happy to proceed, then you sign the contract followed by the vendor. Sale should close shortly after that.

maki2011 wrote: »

hi all.

search all similar thread. but still not get any.


I paid the booking deposit end of April.

Yesterday my solicitor receive the contract from the vender's solicitor.

Normally, from now on how long we can finish and get the key ( i am a cashier buyer)


thanks

maki2011

Trish56 wrote: »

If your Solicitor only received the contract yesterday he/she will have to check same and raise any queries re planning etc. The contract should also state the closing date agreed by both parties. Once the queries are dealt with by the vendors Solicitor and your Solicitor is happy to proceed, then you sign the contract followed by the vendor. Sale should close shortly after that.

Thanks.
the first time i see your this message can not understand.
Now i know. Because my solicitor send me the copy letter which she sent to the vender's solicitor, i notice she raised a number of queries to the vender's solicitor.
I just start a new thread about the queries. can you help to have a look? thanks again

maki2011

hi all,

thanks first for all replies.

I got sale agreed on one property, and my solictor just receive contract from the vendor's solictor!

i notice my solictor raised a number of queries to the vender's solictor.

I know i should ask my solictor, and i indeed asked her, but the answer are always it depends....blabla.....

So can anyone help me look at the queries, are that queries serious? easy to solve?

And no 3 means this property is negative equity???

maki2011

1: We will require special condition 5 to be deleted.
We will require a family home declaration on closing as is standard conveyancing practice.
2: We object to special condition 9.2 and 9.3 and require same to be deleted.
Our client will be happy to close the sale on the closing date if everything is in order however we cannot consent to a provision allowing for our client to be charged interest if the sale does not close on a particular date.
3: In light of the fact that there are three judgement mortgages registered over the property please confirm that the bank will be selling as mortgagee in possiession.
4: Please furnish an update receript for paryment of the management company fee.
5: Please furnish documentary cvidence that the right to appoint the Receriver has arisen ie. That demand has been made but not met.
6: Please confirm that the original Deed of Appointment of Receiver will be furnished on closing as same is required for registration purposes.
7: Please confirm that the original mortgage deed will be furnished on closing
8: Please confrim that the property is currently unoccupied.
9: We refer to Special Condition 12(d), since the property is not a new build and the doctrine of caveat emptor therefore applies, pleas confirm the reason for special condition 12(d) as same would appear superfluous considering that this is a second hand property.

ABajaninCork

No idea what SP 5 is. Same for 9.2 & 9.3.

The remainder of the queries seem to relate to the fact the property has been repossessed, and a Receiver appointed. Is that right?

If it is, then the questions look about right to me, are standard and your solicitor seems to be on the ball. You're paying for their expert advice, so why not just leave it with them?

Mrs OBumble

maki2011 wrote: »

So can anyone help me look at the queries, are that queries serious? easy to solve?

And no 3 means this property is negative equity???

Of course they're serious, or you solicitor wouldn't have bothered raising them!!!

Your solicitor is acting on your behalf, trying to protect you from things that might be wrong with the legal aspects of the sale. You cannot resolve any of the potential issues, only the vendors and their solicitors can. Even if the queries are easy, they might choose not to resolve them if they don't want.

Whether or not the property is in negative equity or not is really not your concern. What you need to be sure of is that you have full legal title after you've purchased it.

The_Morrigan

#3 does not necessarily mean that it is in negative equity, there are three bad debts listed against the property (they could be management fees for example) the sale will only go through when those judgment mortgages are cleared.

The solr for the vendor probably had to amend a standard contract for sale template and forgot to take out some of the conditions/clauses that do not apply.
This is standard practice when it comes to contract negotiation, on that note, noone other than your solr can give you any insight into the points you have posted as you and your solr are the only ones who have the entire contract.

Henry Ford III

All reasonable queries I'd have said.

You'll hget your keys when they're all answered, all conditions of the sale are satisfied, and the closing date arrives.

Only your solicitor can tell you when that'll be.