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Help - HOW to get to exchanging contracts quickly?

5 replies

comtessa · 10/09/2010 16:41

We've been through the make-offer-have-it-accepted etc. The vendor is a professional property developer. No chain as we're in rented and he doesn't live in the property we're buying. No estate agents involved.

The house is now complete (he finished it to our specs - colour carpets etc) and we want to move in ASAP (I'm 6.5 months PG) and he wants to complete to get paid of course.

The hold-up is that he needs to get the electrics and everything checked over by the relevant bodies to sign off the work he's done. He's said that they said they could do it on Oct 2nd. Shock He will call them again on Monday and tell them it's an emergency and they need to come sooner.

Anyone had any experience of this sort of thing? How long does it usually take? We can't exchange contracts until we have all these things signed off, or at least, I'm assuming it would be irresponsible if we did, despite the fact that we know the developer.

Grateful for any advice/suggestions/walls to bang my head against. Thanks.

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comtessa · 10/09/2010 16:57

Bump

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ElsieMc · 12/09/2010 20:25

If you've got a decent solicitor, theres no way he/she would allow you to proceed to exchange of contracts without these matters dealt with.

If you are getting a mortgage, have you had the survey carried out? Again, you cannot proceed to exchange without a mortgage offer in place. Your Seller will also have had to complete a property questionnaire which will need to be satisfactory. You will also have to have had a local search done and received by your solicitor. When all this is done, your solicitor will exchange on your behalf. Good solicitors also like to write to you explaining any covenants/restrictions that are on the property to ensure you are fully informed before you commit.

I could be a bit out of date here - I dont want to put you off but its important your interests are protected.

comtessa · 13/09/2010 09:30

Thanks Elsie, yes, sorry should have said: Mortgage arranged, survey done done, searches done. It's just so frustrating to have (almost) everything in place but not be able to exchange and complete yet. We made the offer in May and were hoping to be in by the end of August. Sigh. Will keep chasing solicitor.

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Jackstini · 13/09/2010 11:10

We had this on our last property. I think what happened there though is that the elec people came round and told them they needed to make some amends and then they would ok it. Even so, to do elec, gas & building work checks with some work done inbetween took under 2 weeks.
Hopefully he gets some joy today with getting a sooner date/cancellation.

comtessa · 13/09/2010 12:43

Thanks Jackstini. Will call vendor and chase.

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