Do you think my purchase is falling through?

[MaryPoppinsPenguins]

We had our offer accepted in October. With Christmas etc it's been quite slow, but we're fine with that, we're in rented and can stay here for a while no problem.

We've been talking to our vendor about exchange (I sort of know them outside of the purchase) and we thought we could aim for next week. We have our mortgage, the money for the deposit is ready to go, surveys searches etc all done. (Mentally moved in and decorated too!)

Now there's an issue. Our vendor said on Sunday night that she's concerned as her vendor hasn't been in contact for a long time, hasn't responded to anything for a while and she doesn't know what he's doing (rented, onward purchase etc).

I didn't know this was the situation obviously... Or I would've panicked a bit sooner and not paid out for all the searches / brokers fees etc...

They're going to write to him with a proposed completion date and see if he responds.

I love the house. It's beautiful and perfect for us, I feel so excited when I think about living there. But now obviously Im gutted. Plus we'll probably be about 5k down in savings if this falls apart...

Do you think there's any way this will be okay? Or would you be looking elsewhere about now?

[MyKingdomForBrie]

They might just not have been in touch. Wait and see what the lawyers say. Make sure your lawyer calls theirs first thing.

[MaryPoppinsPenguins]

When I say 'for a while'... It's been over 6 weeks with no contact.

[RandomMess]

But your vendor may find a different house to buy anyway?

[HolaWeenie]

If it's the house for you then stick with your vendor while they find a new house, if the chain does collapse.

[MaryPoppinsPenguins]

I didn't even consider that, to be honest. I just assumed they would take theirs off of the market if their vendor has changed his mind.

Hopefully they'll still want to move if that's the case.

[MaryPoppinsPenguins]

How long are mortgage offers usually good for? I don't even know how long ours is for, I need to check with DH...

[IShouldBeSoLurky]

Gosh, your vendor sounds a bit laissez faire! We had our offer accepted in October too and when we hadn't exchanged by Christmas our vendor was freaking out! Very likely it will all be fine but I'd try to get some deadlines in place so you can properly plan for what you'll do if it all does fall through.

[peteneras]

Mortgage offers are usually good for 6 months. You can ask to extend for another 6 months just before it expires (Nationwide).

[gruffalocake2]

Our vendor disappeared for 6 weeks. Turns out she went abroad/to her home country for a holiday. It made us sweat a lot but it did turn out OK in the end.... we put pressure on the estate agent to track her down. I think that's what your vendor needs to do now, pressure the agent she's buying through to sort this out.

[PipnPosy]

There is just no knowing what is going on with other parties in the chain. In our case, it was our buyers' buyers who stalled for literally months and we were absolutely convinced they were going to pull out but it all did eventually go through. Like another poster said, if your vendor's purchase does fall through you can still wait for them; they might even agree to move in with family/rented so as not to lose their sale to you. Good luck, I know it can be very stressful when you have your heart set on somewhere!

[LaFlottes]

Oh I'm sorry this is happening after you were so pleased about your mortgage offer.

Unfortunately you'll just have to wait and see what happens. It could be that the solicitor is just being slow and that the person at the top of the chain is still looking for a house so isn't putting pressure on. There are loads of reasons. Also plenty of reasons to think it will still go ahead so don't panic.

If the other party was withdrawing, you'd like to think they would have said so.

I hope you hear something really soon.

Pipnposy hello! Nice to see you "on the other side!!"

[PipnPosy]

Haha, hello LaFlottes! The grass is definitely greener this side of completion! OP, I'm sure you'll get there :)