When buying at auction!
So not a “knock knock” ✊✊ joke (if you are old enough to remember them!)
In the absence of a confirmed completion day by a solicitor 😬, you could easily make the rookie error of assuming the wrong completion date! 😰
56 days : 7 days in a week = 8 weeks = 2 months… 🙅
WRONG! ❌
So as we hurtled towards our planned completion date, some two months after exchange of an auction property, trades booked in, skip hired and funds being moved, we were told we were in breach of our contract. 🥶😱
Well, that was an interesting conversation, apparently, we should have completed 56 days post exchange, we had been working to 2 months; a basic error I know! 😩😫
Like many solicitors ours is up against it, we have used them before and are happy with them 👍, but with limited communication 🤐 focusing on key aspects and with replies delayed, we were obviously both working under the misconception that the other knew the completion date. 🤦🤦🤦
WRONG! ❌
So, a frantic few days ensued, with Queens funeral, an unhappy vendor and then 3 days to pull things together before our schedule of works collapsed. 😢😢
Just a few issues:
📃 None of the legal paperwork had been prepared.
🤷♀️ We had been waiting on the vendors solicitor to update the TR1, they were saying it was correct, our solicitor saying it was not.
💻 Solicitor working at home with an ill child.
👀 Us in Bahrain and documents needed to be witnessed by a solicitor.
📂 Other documents needed to be witnessed by an independent third party.
⚠️ Funds could not be moved as the bank had not set our daily fund transfer limit correctly.
👷 Trades waiting for confirmation of the start date.
💼 5 days minimum to get our documents back to the UK.
❗ Chuck in an ILA for good measure!
Top Tip: Check and double check everyone is on the same page! 💯
