To pull out of flat sale?

[Whyhaveidonethis]

I own a flat with my ex, it's currently sitting empty and we are paying half the mortgage and council tax each along with service charges etc. We took an offer on it in early September, below asking price but to be honest I just want rid, but it's now December, we haven't exchanged contracts, no date to do so and they haven't sent the queries from the surveys. They have a mortgage offer, are not in a chain, and it's all just taking far too bloody long. WIBU to pull out of the sale and just rent it out? I know the purchaser has invested a significant amount of money to get this far, but it's cost me nearly £2k, while they piss around not sending shite back to the solicitors etc. I could have it rented and earning an income in 30 days. Also if we don't sell we don't have to pay the £5k early redemption fee on the mortgage.

You have given them plenty of time but I think it’s only fair to let them know your plans or give an ultimatum.

It’s not us you should be asking
It’s your ex

I'd send a message to the buyers if you aren't exchanged by x date then it's going back on the market. That usually gets people moving.
Have you asked the solicitors why it's come to a halt.

What does your solicitor say the delay is?

We had similar and I called the buyers solicitor and said if we didn’t exchange that day I was pulling out as it has been 4 months with no chain and loads of concessions.

I’d give them an ultimatum but only if you’ll stick to it. Otherwise it’s pointless.

Is it leasehold? Cause that nearly always holds things up if you are still waiting for the management pack. Ask what the delay is.

Also, do you really want to get into business with your ex? Because that is what you are doing with a rental property. Running a business together.

@Ohdearme81obviously I've spoken to my ex. He's happy to do what I want, given I'm paying the mortgage

given I'm paying the mortgage

I thought you were each paying half?

Anyway, op contact your solicitor and tell them if it's not exchanged by X date and completed by X date, it's going back on the market.

They may have put money in but they are dragging their feet. Its taking the piss. Low offer and pissing about?

I wouldn't recommend renting it out, given you just want it sorted.

I should've been clearer, @MsRomanoff I'm paying half the flat mortgage and all the mortgage on the family home.its killing me financially. We've been renting it out whilst separated for over a year so I'm not worried about going into business with him. We also own the management company. They've had the management pack for 8 weeks

September to December doesn't feel massively unreasonable, particularly once leasehold is involved. I offered on my house (both me and vendor chain free) in late June and only completed in November.

You need to speak to solicitors about what the hold up might be

Waaaay too long if there's no chain, sounds like they're dragging their feet.

I would tell their solicitor (via yours) that you're seriously considering pulling out because it's taking so long.

Is there any possibility you could AirB&B it in the meantime?

It’s leasehold. You accepted an offer in September. I am not surprised you haven’t completed! When we’re contracts issued and management pack received? I’ve had some management companies take a month to send the correct info!

Speak to your solicitor and get a timeline. I am a conveyancer and it is absolutely not unusual for a leasehold transaction to take this long.

The date you work from is that date contracts have been issued/received not offer stage.

Sorry just seen you response re management company.

I would speak to your solicitor and ask for a clear update as to what the current position is.

Oh and if you do pull out check your mortgage conditions before you rent it out!

I was messed about in a similar situation years ago. I told them straight that I was losing valuable rental income each month they delayed. In the end I threaten to pull out unless they covered my losses. We agreed on half the rental that I could have charged and the purchase price was adjusted accordingly.

It's always the ones that have no chain that take the longest!

@DollyPomPoms we would be fine renting it as its a buy to let mortgage. We can't actually live there.

I've just emailed the estate agent and said I want a date for exchange or I'm pulling out, which I will, I could be earning money not losing it. firstly the buyer went on holiday for 2 weeks so nothing happened, then it's been two weeks where their solicitor doesn't respond. It's so bloody annoying.

What do you mean by “they haven’t sent the queries from the surveys” ?

Doesn’t sound unusual to me

Have enquiries been raised with the management company?

Have those enquiries been replied to ?

Have enquiries been raised with your Solicitor/Conveyancer ?

Have those enquiries been replied to

The delay will involve all/some of the above definitely

Replies can sometimes have been provided and they are still not satisfactory

They haven't asked a single question. Their solicitor said on 14th Nov that they had only received the surveys back a week before and would imminently send over any queries. Nothing since.

To be honest if I'd known they were going to piss about like this I'd not have accepted their offer. Now Christmas is nearly here and the solicitor shuts down for 2 weeks!!!

Has your solicitor been decent? Are they chasing? Mine would be chasing daily.