Unexpected problem at point of exchange - advice please

[stargirl04]

Hi, I'm in a chain of three waiting to exchange, which was supposed to happen early this week with completion for May 23.

I'm at the bottom, chain free, and the top of the chain - we were led to believe - were chain free.

Myself and No2 - a young married couple - are ready and waiting to exchange, but I spoke to the agent today and it turns out that the No1 "chain free" people have ordered a building survey!

The agent says she does not know any more than that, except our proposed completion date of May 23rd is looking unlikely, obviously.

I have to be out of my rented accommodation by May 31 at the latest, but my bf says I can stay with him in the interim.

Not ideal for various reasons but at this late stage I have little other option.

Does anyone have experience of this or have any wise words of advice for me please.

Thanks for reading

Anyone?

All I can say is that even if you have to store all of your stuff at the last minute it will be fine, storage companies are lovely :) - we got ours for a 4 bed house only the night before when our rented house move got delayed. it's great you are able to live with your boyfriend if it goes all wrong.

Thanks for replying Gotmygoat. I've looked at storage as an option. The thing is, I don't want to live with my bf - his house is ...erm... how can I put this? .... not the cleanest, tidiest place.

However, he has promised to clean it up....

The more I think about this situation the more I think that the sale is going to fall through.

I would ask your solicitor to speak to your vendor's solicitor about exchanging. The vendor's solicitor will then have to speak to their vendor's solicitor, and let you know what's happening.

It maybe that the top vendors are chain free in the sense that they gave somewhere to live/store stuff when they move out ie their purchase not dependent on their sale.

You'll get more concisecand accurate info from the solicitor, rather than the ES.

Thanks Christina. My solicitor confirmed what the estate agent said. I didn't think to ask them to talk to my vendor's solicitor - to get them to talk to their vendor's solicitor.

I'm a FTB and new to all this, so never know the right questions to ask.

we had this done to us - sadly there is never definitely no chain unless the person who previously lived in the house is dead.

the top of the chain has now found somewhere to live and has reneged on their promise to go into rental. If you don't make a massive fuss they will continue to piss you about until they have their new property reader.

so kick up a massive fuss. You can talk to the agent and your solicitor, get them (in particular the agent who gets paid to make chains work) to try to sort this out. Phone four times a day if necessary.

I have to say it was unwise to give rental notice until exchange.

I didn't give rental notice special - I'm in lodgings and my live-in landlady said she needs my studio room back as her daughter is moving back home from out of town and has nowhere to live.

We've been through this before. A year ago she asked me to leave because her daughter was supposedly moving back in but didn't. So she changed her mind and said I could stay. Now the goalposts have changed again. Nothing I can do about it. This is the problem with rented - you are always at the mercy of landlords.

In fact special, let me tell you about my nomadic existence in London, living at the mercy of landlords' whims.

I've been in shared flats and houses over the past few years as it was the only way I could save for a deposit.

Landlord number 1 was lovely but sold the flat.

LL no 2 - a v messy person - resented the fact that I would do their washing up and tidy up after them. When I asked if the house could be kept tidier I was asked to leave.

LL no 3 thought I made too much noise at night. I work nights and often come home during the early hours. Even though I tiptoed around, I was being too noisy apparently because I rattled a plastic bag in my room too loudly. (That was their excuse anyway).

LL no 4 put the rent up, which my flatmate and I couldn't afford and LL no5 is where I am now.

It's a pity it's so difficult to buy right now as that is the only way that I can have control over my environment.

Okay If the 23rd is looking 'unlikely' what date is looking 'more likely', according to the solicitors?

If the people purportedly at the 'top' of the chain have found a property, they won't want to lose their buyers, and they won't want to lose you.

Both you and the 2nd in the chain need to put as much pressure as possible on them via their EA and solicitors to let the two exchanges below them happen - make noises about pulling out and insist on them naming dates etc.

As star says, phone every day, several times a day if necessary with a 'Let's get this exchange on the road' attitude rather than letting the 'top' of the chain call the shots.

Good luck.

Thanks special and Christina for this advice. I will go ahead and do this as from tomorrow.

I communicated with my seller by email today and she was under the impression we were good to exchange tomorrow, so this was news to her.

The estate agent just said repeatedly "I don't know what's going on", so how does one respond to that? I'm a FTB so the EA isn't working for me as such but for my seller, so how far can I actually go in making demands?

My solicitors have also done their job by getting me to the point where I am ready to exchange so is it fair to hassle them?

I really do appreciate the advice I'm receiving. Thanks!

didn't know you didn't give notice, fair enough.

glad you liked the advice. However as I get REALLY BORED with all the slagging off of landlords on here, I wish you luck.

The EA isn't much use then, so focus on your solicitor.

Yes, it is fair for you to hassle your solicitor (within reason!) That's the only way you have to communicate with your buyer's solicitor and so it goes up the chain.

I take it your vendor is going to be on the phone to her's first thing? Excellent - this may be a bit of a blip and red herring, and that's the best way to find out.

Oh dear Special, sorry to have offended you. I did not think my remarks particularly inflammatory, but merely statements of fact.

You will note that my first London landlord was "lovely". Indeed we are still friends. And when I lived overseas and in other UK cities (having moved around with work) I have had good landlords too.

I just haven't had much luck since moving to London. I do apologise if you feel that I've tarred you unfairly, so to speak.

Christina, I don't know what my vendors will do. I do know that her DH was on the phone to the EA earlier today and was "furious" (according to the EA).

I feel rude giving my solicitors a rocket - it just seems like bad manners - but I realise I need to exert some serious pressure.

Thanks once again for the advice.

OP, threaten to pull out unless exchange/completion dates are set in the next couple of dates. They wouldn't want to be this far in the process and then have someone pulling out - they wouldn't know that you are bluffing.

I'm in a better position but similar in terms of the top of the 3-link chain reneging on their promise to go into renting and 'adapt to your dates' - of course they since (next month after my offer) found something to buy, also 'non-chain' and now everyone waiting for them. It was also supposed to happen around the 23d. Still no exchange even! But we are goign to put pressure on as from tomorrow - thankfully the agent is very 'dog with a bone' as I couldn't heck it myself and my solicitor can't be bothered much about anything.

Hi beagles - I remember you! Glad you have found something but sorry to hear about the hassles you're having. This is a nightmare isn't it? It's so, so stressful. I could barely concentrate at work tonight for worrying about it.

I know that threatening to pull out is a good ploy, but people say you shouldn't do this unless you are willing to lose the place. And I'm not sure I'm at that stage yet. I'm still hoping it can be sorted out.

Having said that, I have started looking on Rightmove again just to see what's out there....

I'm still hoping against hope that we can complete by the end of the month, if not by the 23rd as originally planned.

Keep me posted beagles - where did you end up buying (or, rather, trying to buy!) - north, south, east or west? I went for SE...... that is, if it ever happens.

Don't make ultimatums about pulling out - don't say 'if we don't exchange by x date I'm pulling out' at this stage.

A more subtle approach is called for putting emphasis on the 'top' of the chain ... 'given that they're not the chain free vendors we were led to believe they were, I'm now reconsidering my offer (hint that you might be asking for money off your purchase that will further enrage your vendors to get even more on their case)' or something along those lines.

The crucial thing here is that the top vendors realise that they're not calling all the shots and others aren't simply going to accommodate them.

It's not a question of putting a rocket under your solicitors, just asking them to ascertain exactly what is going on and what the delay is. It is their job to act for you and on your behalf, so it is an entirely reasonable request. Personally I would not be phoning them several times a day (what is the point in tha if there is a known delay that is getting sorted?)but find out what is due to happen next and then phone for an update the minute it is supposed to have happened

It is an extremely stressful time, being poised to exchange, and it often, often gets delayed. You risk throwing the baby out with the bathwater if you pull out now.

The fact is that either it will be a bit of a hitch and a delay and then you will exchange and then complete....or whatever the cause of the delay is will cause the chain to collapse. Wait it out and see which it is to be. It is usually the former. And you can exchange one day and complete the next, if it is sorted out swiftly your 23rd date can still go ahead.

Deploy nerves of steel!

I've just read this thread with interest and sympathy with the "top of the chain" as I am a "top of the chain" person at the moment.

I have neither found a place to rent or buy yet and everyone knew that when I accepted the offer. Putting "pressure" on my solicitor would be fruitless. How on earth can he make a difference to this? If I had found somewhere to buy before my house was sold, then the chain would just be longer. Putting "pressure" on me is going to be pointless too as I am not going to buy or rent any old rubbish just to get out and please a few people I've never met and are never likely to meet. I am extremely keen both to sell my house and move from the area but I've got to buy a place that I will love and if renting is necessary, which looks likely, then find somewhere that isnt going to cost me a fortune because I get tied into a contract for too long.

Like someone said up thread, unless the top of a chain involves someone moving into a property that is being sold by executors of an estate, things are not as simple as estate agents like you to believe!

So, my advice to the OP would just be patient and have faith it will all work out in the end.

sprimgy, your situation is a not different though, as you didn't present yourself as 'chain free'.

It's the seeming change in the 'top of the chain's' status that is outing a spanner in the works here.

Springy then you must ultimately accept that you buyer may well find themselves another property, as stargirl may well do if she doesn't get answers.

Realistically, everyone has to get an offer on their own property before anyone else will take then seriously as a buyer and accept their offer! That's normal and the way it works. And why it all takes so long and is tortuous.

But in most cases it eventually grinds towards a successful conclusion - after all every house bought that is not new-build or in any chain at all is a result of this very same nail biting process!

The only people who can talk to the while chain are your EA. As there are only 3 in this chain that shouldn't be too hard to do. I used to work in this area and keep chains together. Your solicitor can only talk to the people directly above or below, and so on with the next solicitor. This way can take days if they are busy. EA's can take half an hour to call. The thing is finding an EA who knows what the solicitors are talking about and knowing what the next stage is. I think your EA has had the info on the survey and isn't sure how long it will take for it to come back (hasn't asked) and whether it will show something up (que possible weeks of negotiations) and frankly doesn't want to scare you by giving too much info. I remember EA's hiding the fact top of the chain was buying and linking it in so that the bottom of the chain wouldn't panic. Great in theory but then you need to remind the top that this wasn't what was originally agreed if it DOES start to be a problem and try to get them to separate it.

Anyway, I'm waffling a bit but generally the EA can find out the chain info easier than your solicitor.

We are in a similar situation. It was agreed in April the chain would head for completion on 28 May. Last week our buyer, us and ones above all had cleared deposit, contracts and transfers signed, paperwork sorted, so totally ready to go. I asked agent if she could check when bottom of the chain would be ready to find out he's no longer a cash buyer, has decided to sell his property and his buyer has yet to sort a mortgage. People above us have have to cancel a builder scheduled for June. I think I'm more frustrated as this has only just come out when we're all ready at the top.

Just before we found out the present situation, we got everything down from the loft to sort so house is a complete mess. Don't really want to put it up in the loft again, so will just has to put up with it.

How on earth did someone get away with presenting themselves as a 'cash buyer' for so,long?

Our EA asked for proof of our deposit as soon as our offer was accepted.