My solicitors are advising all clients to go with SIMS (Simultaneous Exchange and Completion on the same day). I don't really understand why despite that they have tried to explain it to me. They state it is due to COVID and that if we exchanged with say a week gap, if I got ill and had to go into hospital and could not complete on the day, then I would be liable to huge costs etc. I understand that... but the other example used was that if a lockdown occurred and I could not complete. Surely in that case all members of the chain could also not complete and therefore would
all be in breech of contracts? So how does that work? SIMS is stated to me as recommended for my own protection and my solicitor are saying that they will proceed with a week gap between only if I sign a disclaimer that I have gone against their recommendation. My sellers solicitors have proposed a one week gap.
This has been a rollercoaster since January and I'm absolutely sick of it.
So close to the end now. Welcome any advice.