Still no completion date?!

[Waytooearly]

Hi all,

Genuinely asking whether I'm being unreasonable. I've never bought a property before.

I'm buying a flat, no chain on either side, shared ownership (I've been found eligible) I've got deposit and mortgage offer, all good from my end.

The original estimated completion date was 17th Jan. Unfortunately my landlord wants to rent to his daughter so I am moving out this weekend. Putting my things into storage and found a nice cheap airbnb for a month near my work.

For the last three weeks I've been emailing EA and my sols saying, 'Right, so if we're not completing on 17th Jan what's the plan?'

I've asked them to ask the vendor what the estimated time frame is and they just... haven't.

According to copied correspondence from my sols the vendors need to provide a contract and transfer, lease, a Deed of Covenant, and some information bits on the PIF. I don't see how these are taking months to obtain.

I've finally lost patience and emailed my sols, saying in the absence of any other info I need to assume that the vendor isn't ready to sell. I asked her (again) to get a time frame from the vendor.

I have an appointment to view another flat in the same building,this Wednesday. Also no chain. Same price.

I know that I would be going back to square one with new place (and would lose search fees) but my gut is telling me something isn't right.

My questions:

1. Would you also assume that several weeks' delay in getting basic docs indicates a problem on the vendor's side? (If there is a reasonable explanation no one's shared it.)

1. If the alternate flat is fine, can I make an offer with a specified term that we complete in a month?

Thanks if you've read all that.

But now I am in the opposite side and I really do expect more transparency and clarity from my lawyer. Okay, if it's not happening soon, tell me why. Give me your best estimate based on your experience. Give me a plan B. Tell me honestly whether you think the buyer's flaky, whether this is normal, etc.

I completed on a house purchase in 5 weeks, with a small chain. Contact the vendor direct they might be aware of any hold up.

A colleague of mine bought a shared ownership house last year and it took months, no chain, but the shared ownership element held it up terribly, solicitors going back and forth clarifying details.

Give me your best estimate based on your experience

No such thing. And clients see a “best estimate as a fixed date.

Give me a plan B

That’s your job!

Tell me honestly whether you think the buyer's flaky, whether this is normal, etc

From what you’ve said it is entirely normal. It’s a more complex transaction, with various agencies involved. I would have no idea whether someone I had never spoken to or liaised with directly would be “flaky”!

If it is shared ownership, think of it as dealing with two vendors at the same time. Twice as hard to get anything out of them, unfortunately!

Some of these comments about ringing the solicitor every day (!) and chasing progress reminds me of this: things can be done quickly, cheaply or well. You can have two out of three but not all three at once!

And I'm a lawyer too- I wouldn't ring my solicitor every day- I would think an update a couple of times a week is reasonable, particularly if they need my instructions on a difficult issue or are trying to progress things.

Yes but I would never give an estimated time frame of six weeks and then just let it whoosh by without saying anything. If it could conceivably be several months, say so! Managing expectations is a big part of the job. Just saying 'how long is a piece of string?' means you're not experienced enough.

Yes agree that expectations should be managed.

Okay, if anyone is still interested:

Over the weekend I wrote to the HA and said 'I understand we're waiting for xyz documents from you. I think they were requested in Dec. Could you pass them on please?'

I got a note this morning from the EA that the vendor's solicitor is waiting for my solicitor to confirm something from my lender, and that's why vendor's sols haven't provided the rest of docs.

I had a phone appointment with my solicitor at 9 and I tried three times and couldn't get through. It's nearly ten now.

It's a nice flat but it's not the find of a lifetime. I have the option of moving in with a friend indefinitely (just means a long commute).

So just now I emailed mortgage broker, vendor's sols, my sols, and EA saying that in order to proceed with this purchase I need to exchange by 31st and complete by 10th February.

I put a list of everything I understood to be outstanding (including things like 'Broker, I understand that Vendor is waiting for xyz info, could you please follow up with them?')

I ended by saying I was happy to assist if there was anything else they needed.

Ten days is ample time to get things like an original lease, Deed of Covenant, etc. They should have them already.

I would genuinely rather walk away and start again than spend the next few months whether Bob has followed up with Jimmy about Carol's request for document X, all for the privilege of dropping my life's savings on a place.

I'm just going to leave it now. If we haven't exchanged by 31st I'll start again with a new place (maybe avoid shared ownership next time)!

I just got a follow up call from EA, who said that the vendors sols and Housing Association wouldn't be responding to me as I wasn't their client.

I said, 'Yeah, I know.' And then I waited for her to say something useful.

After an awkward pause she said she'd get back to me with any updates.

Just had a good talk with my sol. She took instructions on a few points on the lease.

She said the main reason she can't really give me a time frame is that she hasn't received the Leasehold Management Pack despite three requests. She said that it's something the vendor needs to get from the HA, for a fee.

I have already emailed the HA myself, chasing this.

Okay so I was right, the vendor is being flaky, or their sol is crap. Either way I think I was right to give a deadline.

I'm confused as to why you would email the vendors solicitors to be honest given you know they can't speak to you.

I wouldn't be passing anything that came via that route to my client.

I don't want them to 'speak to me'. I'm telling them my position.

It's up to them whether they pass the info on to their client.

*I'm telling them my position.

It's up to them whether they pass the info on to their client*

Don’t be “that client”. Use the proper methods of communication.

Anecdotally, when the other side contact because they think it will hurry things along, it doesn’t. And quite often has the opposite effect!

It's entirely acceptable to email sols to advise of position.

If you're saying you'd keep that info from clients and then act all surprised when the sale falls through, okay.

I'm just going to wash my hands of it all now and see where we are on 31st.

What do the vendor's solicitors need from yours re. your mortgage? I'm curious as I can't think of anything.

Well I did say upthread that I thought the HA would need to provide some of the paperwork, and that it would be the same for any other flat in the same block.

You know - professionally - that they can't respond to you, so your approach was completely the wrong thing to do, very annoying for the recipients and makes you look bad. That's hardly going to move you to the top of their list, is it? They can't give you a response until they receive the paperwork, they are not ignoring you - you know that.

So far, I have suggested hanging on because nothing will move faster now you are part way through. I would now suggest looking around at another property not in the same block, even though it will take longer. They won't be rushing to help you now, especially your conversation with the EA (I know but I did it anyway).

I hope you find the right place for you very soon.

The vendor needed verification that the mortgage offer was worded correctly for shared ownership. My sol already sent all that, she said, but sent again.

I don't see how it harms anyone to tell the vendors sols that I want to exchange by a certain date, when in fact I want to exchange by a certain date. If I were the vendor I would want to know!

If the vendor requested a lease management pack and lease from the HA in December, and still have not received them, then something is seriously wrong and needs looking into.

We are currently in a similar position trying to sell our leasehold flat. Lost 4 weeks to trying to get the management packs, one from management, one from freeholder. If you add in a HA into the mix it just adds more hassle I suppose. Our delay turned out to be a 'release form' that our solicitor hadn't sent back. I found this out after ringing the management company myself. Got the pack the same day and it was sent across to our buyers solicitors, just in time for them to go on Christmas holidays for 2 weeks. Leasehold do take a longer process in general, we dictated we wanted to move in March so our buyer had to wait but honestly I don't think it could have happened any quicker than it has. We are due to exchange in a couple of weeks and fingers crossed that's the end of it!

Don't even get me started on the process we've just gone through trying to secure our new build! Good luck OP, hope it all works out for the best!

They're pissing you about. I completed on a house within 6 weeks of offering. Looks like they're holding out for a higher offer.

Mornings .... RTFT she isn’t buying a freehold property she is buying a shared ownership lease and countless people have advised there is a lot more work involved!

Thanks noidlet for sharing.

So you also had problems with management packs and had to wade in yourself to get it sorted. That's exactly our position.

For my mental health I need to put all this to bed for a few days now. Thanks to everyone who listened to me vent.

OP sounds like you've done incredibly well and are doing as much as you can. I've bought/sold quite a few properties and I would bet:

1. vendors are dragging their feet and/or
2. vendor's solicitor is cheap

There's no reason exchange/completion can't be sorted within 8 weeks.

If you're serious about being happy to pull out, then absolutely tell them this - give them a deadline.

I push for a completion date within a week and fully annoy my solicitor, and the estate agents daily - my record is a 25 day conveyance! From offer to having the keys. And that included some title issues and deed clarification.

Don't be nice, put your business head on and put yourself and your interests first.

Have you paid your solicitor for searches & had a survey yet?