hand-hold through this nightmare?(34 Posts)
I cant really type coherently as I am so on the edge.
We are selling to a couple - deposit in hand, first time buyers, ready to move.
We are buying from a very elderly couple (no phone or computer they use which is relevant), who have all along said they are moving in with their son, so chain free.
Everything has gone ahead. Surveys, draft contracts, mortage offers formalised. Removals booked on discussion for Tuesday next week.
Yesterday we hear the bombshell that the elderly couple we are buying from wont exchange yet as their "onward purchase" isnt ready. Our soliciotrs stunned. Estate agents stunned. Us stunned. What onward purchase?
Branch manager of estate agent goes to speak to them in person. Turns out the son they are moving in with is divorcing, and they are trying to build a trust of some kind to buy her out. The elderly man is to buy half of the sons house. We never knew this. Branch manager explains to them that this is nt the way to work and that they can sort this internal matter after completion with us.
Man is convinced. Estate agents ring us to say all sorted yesterday afternoon. We had been sick with worry.
This morning man gives his go ahead to exchange and his solicitors call our solicitors who call our buyer's solicitors to exchange at 3 pm today. DH and i cry a bit with joy.
At 5 minutes to 3 pm, old man calls off his go ahead to exchange saying he needs to sort something about the trust/sons house and we cannot go ahead and exchange till end of the week. This leaves (1) no time in hand for move on tuesday and (2) we stand to losw £1200 in removals money.
Estate agents stunned. Solicitors stunned. Say they have never seen this happen.
We are in tears. Our solicitors say we should still be okay to move tuesday if they wexchange up to Friday but we cant bear it.
What should we do? Why has he misled us like this?
Our buyers are pateint folks but they have been let down badly once and we are scared that they may quit. Its more than the 1200 involved in removals.
Just got this email from the estate agents -
Branch Manager is trying to get hold of him / his son. He has told his solicitor that he "needs to sign a piece of paperwork". I have never heard of someone retracting an offer of exchange. I am very unsure the gentleman understand how this process works / how complicated it is despite numerous house visits and calls. I will let you know soon as Branch Manager has managed to speak to them."
DH and I have full time jobs, long commutes and drives and a 10 month old that is tething. Not sure we can take much more of this shit.
What a nightmare. No advice but you can have a handhold.
If it helps, I moved house last week and despite us being ready to exchange for over 2 weeks thanks to our buyers (FTBs) and vendor (a developer so no chain) dragging their heels / going abroad for a week (!) we didn't actually exchange until the day before completion. It was very stressful but it can be done.
Shame your solicitor didn't manage to get the exchange done before the old guy dithered again. I hope it goes through for you soon!
The worst thing about buying houses is you have deal with other people who never seem to reasonable..
I'm really sorry that this is happening to you but I feel your EAs/solicitors are being a bit disingenuous: people delay exchange all the time even at the 11th hour so, while it is very annoying, it's not unknown territory. The best thing you could do is call your removals people (who must also be used to this sort of last minute change of plan) and see how flexible they can be regarding the date.
There is no reason for your buyers to pull out over a few days' delay so please try not to worry. The most important thing is that your solicitor (not the EA who will probably say anything to keep the deal alive) establishes the real reason for the delay and gives you his/her view on whether it is a credible one - ie, if the purchase is likely to go ahead on Tuesday/some time in the future/not at all.
Good luck with it. It's horrible being put in this position, you feel so powerless but most house sales have hiccups and they do get resolved .
Thank you. The seller really does not understand what the process entails. He said yesterday " we are moving on Tuesday but I don't want to sign the deal yet what if I become homeless". Our solicitors think it's going to happen Tuesday ie the move but they are very surprised that he called to give the go ahead and in fifteen minutes changed his mind
I agree with LaLa. We signed our contracts and thought we were ready to exchange but for one reason or another (-bloody idiots at the bottom of the chain-) we didn't actually exchange for another 3 months. We were convinced the chain would break down but it did eventually go through and we never found out the real reasons for the delay. It was incredibly stressful and I felt like my entire life was on hold until we exchanged so I'm also offering a handhold, but don't give up hope. It sounds like everyone involved still wants it all to happen, just a bit later than you wanted. Like LaLa said, see if removals can v flexible on the date. I'm sure your buyers won't pull our because of this; at this stage they are just as emotionally and financially invested in the purchase as you are. Good luck!
It sounds very unlikely that, even if he were to complete on Tuesday, he would be ready to move out. I think it would be far better to get exchange over with and have a good couple of weeks to completion so that (hopefully) the vendor's son or someone can help him pack up his house and make the whole process less confusing.
The alarming thing is that this old man is packed. He keeps saying he is moving on Tuesday.
He has concealed that he had a chain. He always said he was chain free
He has told us he is moving on 6th September and he has packed to that effect
There is a genuine struggle happening here with conveying meaning, and his solicitors who are known ditherers have not guided him well at all.
Well, if he's packed, I think you should be optimistic that it is going ahead. I suppose in his mind he wasn't going out and buying a new house, he is just using his money to secure his son's so it isn't a chain. His son or someone will spell it all out to him and it will happen.
Good luck (again) - this time.
I'd go ahead and sell mine and exchange with the FTB's then stick everything but essentials in storage and move into a holiday let/relatives/friends or something, let him dither one more time, have his solicitor tell him you are the ones who are now homeless and ready to move on to another house to buy and he'll lose the sale.
Hand holding, I'm sure it will all work out for you. We bought a house from a couple of Octogenarians, who had lived in it for many decades. It took 9 month to get to a price agreement! It was in Scotland so we then quickly got to the no going back stage!
House selling has changed a great deal since many older people made a sale or purchase. It will all be fine.
No little old lady/ man ever actual moves into a rental/ with relatives. Im the.only person who kept a promise to go into rental, i think.
Stop crying , scream 'bastards', exchange with your buyers with completion in 3 weeks. This gives time either to exchange with your seller or to move to rental/ storage and then if the worst happens, six months to find another house.
What a nightmare situation, it never ceases to amaze me how people behave when it comes to buying/selling houses. We had a corker though - on the day of exchange husband signed, wife refused...... It needed both of them so the deal was off even though we'd paid deposit on rental propery and on removal vans. Our agent was gob smacked and refused to deal with them any further, so gave them no viewings on other properties as they said they weren't to be trusted. We wrote them a very strongly worded letter (passed by our solicitor) telling them how much they'd messed us about but not surprisingly heard nothing.
They obviously found somewhere as I have seen them about a bit, I have perfected the death stare but think it goes straight over their heads.
Best of luck, fingers crossed all will be well.
Good luck OP.
Our sellers pulled out on the day of exchange. I was still calling the solicitor at 5.30 asking if they'd signed yet. He was frantic but they just went silent. Never happened.
Got another house of course. It all works out in the end.
I'm not sure these worst case scenario posts are helping the OP
OP - he's packed, he wants to move, that's the main thing. I know it feels like everything is being left to the wire but it can be that way and you still successfully complete/move on the day you planned.
I have everything crossed for you. I'm well aware how stressful this process is as we're going through it now too. Everytime the estate agent rings I panic thinking, what now?!
((Huge calming and a hug))
Op, you have my utmost sympathy. I have been in a chain where one person concealed a chain. The details are outing so I won't go there, but for us it was the SHITTEST of times (I had a 5yo and 4 month old non-sleeper). But DH did a fantastic job of working with EAs and solicitors and it worked out in the end; we got the house.
Hang in there. Hand hold and for you.
I also second pps saying sell your place and move into rented if you can / have to. But hopefully it won't get to that stage. Keeping everything crossed for you.
So apparently last night after hours they called the branch manager of the estate agents (the only person they speak to) - and again they were explained till he was blue that they need to exchange and they are messing people about by authorising exchange then pulling out five mins later. Again the old man says yes yes and again we hear nothing. The mans son is also trying to explain to him that if he doesn't make the sale to us and doesn't get the money then he doesn't have the money to buy half of sons bungalow. But he nods and says yes yes we are packing you see we have to move into the bungalow on Tuesday and then talks about boxes and the bungalow but everyone is getting frustrated that he keeps also saying he doesn't "want to be homeless" when son has said he won't be homeless he moves in and then they sort it out
EA and solicitors have advised a gentle ultimatum. That we exchange by end of play today/tomorrow to complete on Tuesday as planned otherwise our buyers are unwilling to wait much longer in uncertainty.
The old man keeps popping over to he EA to dither and forget why he was there and then EA visit him at home later to explain again and he says yes yes yes and then we hear nothing.
awww i feel sorry for the old man, he sounds confused, I hope it gets sorted soon
Update got this email from our solicitors
Sellers solicitors have confirmed they are happy to exchange, I am taking a release from buyers solicitors now who are ready to exchange as well.
I will come back to you once the exchange is complete.
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