jon&kate

Just spoke with solicitor who has said we can exchange even if deposit of buyers buyer not in place and she will still be tied into completing.Also rather than calling our estate agent i went into his office and got him to call other agent and find out what the hell is going on.He reckons a call has been made to buyers buyer solicitor saying exchange monday complete wednesday but i am hoping we can exchange on the nil deposit today rather than waiting till next monday.

Nu-Shooz

We exchanged on nil deposit. My solicitor recommeneded that we didn't, but we had a plane to catch
All went through in the end...you'll be ok.

TeresaG

Hope everything will be OK.

jon&kate

I so hope you are right we need all the fingers and toes of all of B/ expats crossed on this one.After reading loads of threads on hear regarding estate agents maybe we need to get a wanker sign smiley for estate agent threads .

RedT

Karma sent, really hope it all works out for you

jon&kate

Looks as if all will be sorted today as all solicitors seem happy to exchange contracts with deposit to follow.

sarahlou

Hi Nu-shooz
please can i just ask as we are in the same situation i think,we have to leave on the 5th Jan and we have a buyer but they cant sell theirs,they cant get no one in the door at the min,they do have a lovely house and we were all certain it would sell first time but not ONE PERSON has even looked,they do not know we are emigrating as i dont want any dirty tactics at the last min,
We are selling for 285,000, they said they can raise 250,00 cash from some policy but idealy they want to sell first,
after reading these and yours post is that true or possible that you can exchange with no money - how does that work though - do they get the house and then the money later or can they put a deposit down to secure and tie them in as my OH will have to come back if not,

moneypenny20

I know this one is supposed to be a thumb up but to me it's always looked remarkably similar to the type of thing you're looking for

jon&kate

all it means is that exchange of contract takes place without the buyer handing over 10% deposit to solicitor.They still have to complete on the sale on the agreed date and are legally bound into things.

Wol

Except that your solicitor hasn't any cash to hold onto if they pull out. They *may* be bound into a contract, but you're in Oz and they are not: pound to a penny you would cut your losses and not pursue them through the courts - and still have a house to sell.

Sorry if this is not what you want to hear, but nowadays you cannot trust anyone.

Timber Floor Au

i thought johnncate were in uk still...

jon&kate

we are in the uk .And also it is only a case of her funds clearing as her solicitor was not prpared to exchange without proof funds were available.The main thing for us was to get the contracts exchanged thus not giving her the chance to pull out.Completion date is wednesday 28th and we fly out 29th.

Timber Floor Au

so.... have you EXCHANGED CONTRACTS?? ie all parties in the chain??

Nu-Shooz

Oh god no!!! Our buyers did have a buyer for their house, it was the solicitors that were taking ages to sort things out. We were stuck in the middle of a chain, but we all wanted to move, just the solicitors messing.
We obviously took a chance and moved before exchange, but it all went through the next day. I knew it would all go through, but if your buyers havn't got a buyer then you won't be going no-where...unless they have full cash.

Wol

Someone can *always* pull out - that's why you hold a deposit, which they lose if pulling out after exchanging contracts. Chances are that it will all go through OK, but there are enough horror stories here to be wary.