D
mf1 said:There is an element of "how long is a piece of string?"
The closing date should be agreed between the Vendor and Purchaser, should be realistic ( vendor to find somewhere else to live and purchaser to arrange finance) and can be anything from 1- 2 weeks ( very unusual & very tight with no room for any hiccup/disaster) or 4-6 weeks ( more normal).
Between Contracts and closing, Purchasers solicitor deals with Mortgage documentation with lender and Title Requisitions with Vendor's solicitor.
Solicitor should not charge extra for doing work speedily and mortgage broker is bang out of order with his "4-5 days easy"!
A lot of people engaged in the whole process could be a whole lot nicer ( to their clients and their colleagues) and a whole lot more client focussed but low price and volume conveyancing tends to drive that out the window(IMO)
mf
jccf2003 said:Have you mortgage protection in place? That's what we're waiting on - couldn't imagine that it would take as long as it has. We signed contracts 2 weeks ago and were supposed to close this Friday, but if the mortgage protection paperwork doesn't arrive in this afternoon's post (and I'm losing hope) then there's absolutely no way the cheque will be drawn in time. As it it I was hoping to go in to Dublin to ICS tomorrow and speed it along in one day, which as far as I know would be difficult enough. We applied for mortgage protection about 4 weeks ago, so it's not necessarily fast ...
ninsaga said:- Contracts signed - who signs first" seller or buyer: Does it mean that if contracts are signed then there is no reversing it. both buyer & seller now have obligations & that the process is not reversable (unless mutually agreed)
ninsaga
jccf2003 said:I don't think this is true - the buyer signs first and usually pays a hefty deposit (~10%) and at that point the *buyer* has obligations and will lose the deposit if (s)he backs out. The seller (AFAIK) still has no obligations at this point, and doesn't sign contracts until just before closing.
That's my understanding - though I'm not 100% certain either so I stand to be corrected!
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