Do I have to just accept not knowing what's going on?(14 Posts)
We're sale agreed on a house for 4 weeks now. The estate agent told us that the vendors were already sale agreed on their new property so wanted a quick completion, which suits us perfectly.
The agent keeps telling me to expect to close in mid December. He says that's what the vendor's solicitor is telling him.
My solicitor says it's very, very improbable at this stage, because she hasn't received contracts yet so can't start the searches, but she won't know till the contracts arrive (so it's not impossible).
Our mortgage approval expires on the 29th of December and we can't get an extension. I'm getting the paperwork together to reapply.
I'm just so sick of the uncertainty. Would it be terrible to call into the vendors and ask them directly what their expectations of the situation are, and what their solicitor has said? Because I don't believe a word the estate agent says at this stage. Is it possible that the vendor's solicitor could be right that it could be done that quickly?
Tell the agent what you've told us, so if he wants the sale he needs to tell the vendors to get moving.
You can find out how long your council takes to do searches. Hate to say it, but I don't see exchange before Xmas and certainly not completion. And the tat festival brings everything to a halt until early Jan.
I've told him. He just keeps repeating 'mid-december' which is patently bollocks as far as I'm concerned.
I'm just so flipping tired of not knowing. And we're living with my parents who are in really bad health and not up to having two extra adults, two small kids and two cats in the house. It really needs to not go on for much longer.
I would contact the vendors directly, recently had a very similar experience and things only got moving when we all started talking to each other. I agree the agent is talking bollocks. Your vendors need to hassle their solicitors or get their paperwork in order. Make sure they know about the mortgage offer expiry date and good luck, it's a miserable process
agent clearly overpaid and not bothered about selling. Might well be time to let the vendors know that. And his boss.
sorry, but this is sadly very unlikely to happen before the new year.
He's his own boss, which makes it all the more strange! You'd think a one-man show would be more eager to get things done efficiently.
When this happened to me once I just said if the exchange of contracts wasn't done by x date I would be putting it back on the market. This may not be an option for you though depending on the length of any sole agency agreement you have.
Specialsubject that's quite a leap. OP nothing happens until your solicitor receives a draft contract. The reasons they might not have a draft contract are nothing to do with the estate agent. Most likely is the vendors haven't returned their paperwork to their solicitor - the solicitor needs formal instructions, ID and a property information form before they can prepare a draft contract. If the vendors have sent all this over then their solicitor needs a good kick up the bum to get the paperwork out. Your solicitor can speak to the vendors solicitor to see what's happening but they probably won't unless you prompt them to do it
What leap? Most agents are on commission, so just saying it will all be OK is a bit daft. When I had chain troubles (trust fund princess messing the little people about) my agent busted a gut to get it moving and make it happen. No sale, no fee.
Unless he is on a fixed fee, which means he has no incentive to do anything.
OP listen to what daisygirlmac says.
There can be no progress on your purchase until your solicitor receives the draft contract pack. Until then they do not have up to date title deeds/plan, draft contract, fixtures & fittings, property information form, all of which form the basis of what enquiries can be made in order to transfer the title to you. You need to phone your solicitor to find out if the contract pack is still awaited/immiment. He can then chase the vendors solicitor.
Four weeks is actually not a long time. First the solicitor (for vendor) needs to be "instructed", they will then confirm that to the vendor and enclose various forms to be completed and returned by the vendor. This is where most delays occur - vendors don't send back the forms for days/weeks while they try to sort out witnesses to their ID, even though they could return protocol forms (F&F/PIF) prior to ID. Then when the vendors solicitor receives the forms, they get the land registry documents and provide a contract pack to your solicitor, who will then ask you for search fees/request searches and raise enquiries. There is a turnaround time but four weeks is not unusual.
The EA is not involved in the legal transaction after the matter is put into the hands of the legal people. The only advantage they have regarding progression of the chain is that he can phone all parties trying to obtain information. Whether the solicitor actually tells him much is debatable. Therefore, the EA is not able to tell you whether it will be a quick sale because he does not know.
TBH I don't think you'll be in before Christmas. Without even draft contracts to start the process, you will still have a long way to go.
I had to wait 6 weeks from agreeing the sale just for the title deeds to come in from the sellers lender. 4 weeks is pretty early in the process, and I agree with your solicitor that mid December is unlikely given it's the end of November now. Why won't your lender give you an extension? Most will give at least 6 weeks if they know there's a purchase agreed. I'd try and hang tight, even though it's frustrating
Either your vendor hasnt returned all the paperwork to their solicitor, or they have and their solicitor is being slow to get the draft contract out. Either way, your solicitor needs to keep on at their solicitor - but he wont unless you keep on at him.
Whilst the Estate Agent has no official role in the legal process - a good agent can be the difference between the sale going through or not. So keep on at him to chase their solicitor and speak to the vendor.
IME solicitors insist on a week between exchange and completion (ask your solicitor), call the council and ask how long searches are taking (it will be at least 10 days). Nothing will happen between Christmas and New Year.
It seems highly unlikely that youre going to complete before second week of January.
Woo hoo! My solicitor has the contracts. She's going to read them and get back to me.
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