Buying a home and don't know how anything works
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Elpenor
a clown’s heart and a mandolin
Email from the solicitor saying exchange is “imminent”. I think their idea of imminent may not match mine.
I reckon that my deposit money will be in one account by Wednesday and hopefully my insurance is sorted then too.
Got two removal estimators coming round next week. Ought to get a third quote arranged - a job for tonight.
I reckon that my deposit money will be in one account by Wednesday and hopefully my insurance is sorted then too.
Got two removal estimators coming round next week. Ought to get a third quote arranged - a job for tonight.
Cat Fan
Cats and stats
Interesting, could you please elaborate?
prunus
Tick tock.
One of my jobs was/is to help sort out and oversee the administration of a company whose business is buying and selling houses. I built them a database and systems etc and implemented electronic signing of all documents (Docusign) to take out one of the main bottlenecks, which was getting physical paper documents signed and in the right place at the right time. I’d estimate they’ve done over 200 transactions like that now. Once or twice (literally) in that time the solicitors on the other side (for there’s always another side to each transaction obviously) have insisted on ‘wet ink’, but for the vast bulk it’s been no problem at all.
I know this company is far from unique in this as well, so I thought I’d mention it in response to someone above saying something like “the first all-electronically signed transaction has recently completed”, as that didn’t accord with my experience.
I was a bit inaccurate I guess when I said “I’ve been doing…” though. Not me personally!
Cat Fan
Cats and stats
Ah, so I think the distinction here is that limited companies tend to play by different rules to private individuals.
Very interesting, I hope docusign becomes the standard in future it would save everyone a lot of hassle.
prunus
Tick tock.
The other sides of their transactions are almost always private individuals, represented (obviously) by their own solicitor. I think it would just be a case of asking your solicitor to do it that way…
The law society is happy with electronically signed contracts, and HMLR is happy with electronically signed transfer deeds, so there’s no obstacle to private-to-private transactions being done electronically other than the people involved (buyer/seller and their respective solicitors) not wanting to.
prunus
Tick tock.
Ah…. I think I’ve found the source of the confusion:
www.lawgazette.co.uk
Although the title of that article says “first electronically signed property deal…” what it actually means is first electronically signed transfer deed without a witness, which is a different thing.
It also contains a spokesperson for docusign claiming “transfer of title took 24 hours rather than 6-8 weeks”, which is a disingenuous and meaningless claim. Transfer of title is usually very fast. The 6-8 weeks is all the preparation work, none of which is obviated by the removal of a witness’s signature…
First electronically signed property deal goes through
Top-100 firm Hugh James is first to submit qualified electronic signature, which does not require witnessing.
www.lawgazette.co.uk
Although the title of that article says “first electronically signed property deal…” what it actually means is first electronically signed transfer deed without a witness, which is a different thing.
It also contains a spokesperson for docusign claiming “transfer of title took 24 hours rather than 6-8 weeks”, which is a disingenuous and meaningless claim. Transfer of title is usually very fast. The 6-8 weeks is all the preparation work, none of which is obviated by the removal of a witness’s signature…
Cat Fan
Cats and stats
How do you get electronic witnesses, do the purchasers need someone hanging over their shoulder when they docusign?Ah…. I think I’ve found the source of the confusion:
First electronically signed property deal goes through
Top-100 firm Hugh James is first to submit qualified electronic signature, which does not require witnessing.
Although the title of that article says “first electronically signed property deal…” what it actually means is first electronically signed transfer deed without a witness, which is a different thing.
It also contains a spokesperson for docusign claiming “transfer of title took 24 hours rather than 6-8 weeks”, which is a disingenuous and meaningless claim. Transfer of title is usually very fast. The 6-8 weeks is all the preparation work, none of which is obviated by the removal of a witness’s signature…
prunus
Tick tock.
Yes, basically. The docusign first asks you to nominate a witness (name, email, mobile phone, address, occupation), then you are supposed to do your docusign with them physically watching, it then emails them and asks them to sign to confirm they witnessed you docusigning. (mobile phone is used to text an access code to make sure the person clicking on the link in the email is the person it's supposed to be. Not exactly foolproof, but better than nothing).
Have they not emailed you a confirmation? It sounds very complicated.
Elpenor
a clown’s heart and a mandolin
I think between me and the insurer we’ve made a right mess of it
I suspect using my existing insurer has complicated matters too and the computer has said “no”
It’s not something I can fix - down to them - so other than telling them what needs to happen I can’t do much
Elpenor
a clown’s heart and a mandolin
Insurance seems to have been fixed, I’ve had to pay another £8.37 to amend address so maybe my fault. Anyway small beer in the scheme of things. My new documents should be available in an hour or so and then I think there are no more barriers to exchange.
Have transferred the rest of my 10% deposit to the solicitor this morning. I go on holiday next Friday and I’d like to have transferred the remaining deposit money to the solicitor by then so I don’t need to take my laptop with me. It will take 6 days to do so ideally I can start sending it tomorrow if I have an idea of completion date (or I could always not be mean and pay HSBC for a CHAPS )
Have transferred the rest of my 10% deposit to the solicitor this morning. I go on holiday next Friday and I’d like to have transferred the remaining deposit money to the solicitor by then so I don’t need to take my laptop with me. It will take 6 days to do so ideally I can start sending it tomorrow if I have an idea of completion date (or I could always not be mean and pay HSBC for a CHAPS )
Epona
Radar 2006-2020, Sonic 2006-2022, Jakey 2007-2024
Insurance documents sent to solicitor.
Now to find out what “exchange is imminent” really means
It'll be like when a builder tells you that the work will take 2 weeks.
Artaxerxes
Look out, he's got a gnu!
It'll be like when a builder tells you that the work will take 2 weeks.
Sucks teeth for builders, leans back and holds pen level for solicitors
I think my solicitors may have died or absconded at this point, more comms if I had a fucking ouija board. Messrs Randall and Hopkirk (deceased llp)
WouldBe
Dislicksick
Avoid like the plague. 
It looks like they're voluntarily winding the company up. It's only a year since they started this company so they're probably wanting to avoid submitting accounts and paying corp tax and will probably just phoenix the company and trade under a different company or as self employed the next day. In practice it probably won't make a difference to you but it's just not worth the potential hassle - there's plenty of companies out there that don't have this risk and it looks like they're being dodgy at best. For the potential for a huge hassle if they don't show up on the day or get a van repossessed with your stuff I'd find someone else.
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Leafster
.
I agree with salem They've decided they don't want the company anymore (for what ever reasons) and have filed a DS01 to get the company removed from the register.
There's 2 to 3 months between the application and striking off but it's not worth the hassle of using them just in case something goes wrong and you need to take action against them.
I'd use someone else instead.
There's 2 to 3 months between the application and striking off but it's not worth the hassle of using them just in case something goes wrong and you need to take action against them.
I'd use someone else instead.
marty21
One on one? You're crazy.
Tbf , I had a new roof put on last year , prompted by my previous downstairs neighbour selling up & me telling her we needed the roof done (as the leaks mostly affected us) She wasn't happy , and ended up dropping the price for her share , £12k) but the roofers were fucking excellent and did it on time .It'll be like when a builder tells you that the work will take 2 weeks.
Elpenor
a clown’s heart and a mandolin
Is it tomorrow you JGTFK 5t3IIa ? Hope it goes through smoothly
Nothing to report here other than I’ve arranged to send the rest of my deposit over in stages over the next week or so.
Came home to a letter saying my rent goes up by £25 from July 11th. Looks like I will dodge that particular bullet which is rather satisfying
Nothing to report here other than I’ve arranged to send the rest of my deposit over in stages over the next week or so.
Came home to a letter saying my rent goes up by £25 from July 11th. Looks like I will dodge that particular bullet which is rather satisfying
BoatieBird
Well-Known Member
Yes!! Tomorrow!! Am quite stressed, suddenly. The blissful ignorance of the FTBhas given way to breakdowns over the vendor wanting an extra 3 hours to send a cleaner in. One hand, I want it clean, other hand I JWTFK
Good luck to you
I would definitely take the free clean!
Epona
Radar 2006-2020, Sonic 2006-2022, Jakey 2007-2024
This!!
