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

hi, stargirl ! I couldn't quite place your name first (it's been a while) but I then remembered you were thinking of buying in Welling! glad you've now decided on something, dying to know where - I'll PM you.

These things can be so frustrating. Days before we were trying to exchange on the sale of our flat (we were top of the chain as we were moving into rented accommodation) we found out that the bottom of the chain (our buyers' buyers) had been made redundant so were pulling out. I am sure they had known for longer but only told us when we pressed for an exchange!

Luckily our buyers found another buyer in 24 hours and the chain stuck together!

Hopefully this chain will too.

It's fair enough if peoples' circumstances change, but claiming to be 'chain free' until just before exchange is so unfair and stressful on others.

Hi guys, thanks so much for all the thoughts and advice here. Today I'm afraid the pressure got to me and I completely flipped.

I think I had some sort of a breakdown. First I rang the agent and asked what was happening, the reply to which was "I have put some calls in but not heard back yet".

To my surprise I then said, in what probably sounded like a strangled voice: "Okay, here's the situation: as of May 31 I am homeless, so this needs sorting out, otherwise I will have to reconsider my options".

She said, "Why didn't you tell us this before?" and I said, "because it was only sprung on me a week ago and because I naively thought we were completing on May 23, and because I had no idea about this top of the chain issue, I didn't see the need to tell you, but obviously this new information changes things."

I put the phone down and sobbed! I then, for some inexplicable reason, rang my bf and had a furious row with him, telling him I didn't want to move into his place temporarily (as he has offered) as we were always arguing.

Then I said "If this sale falls through I am leaving London because it is SH*T HERE!!!! and NOBODY on normal wages can afford ANYTHING, not even a CRACK DEN!!!"

Then went for my medical appt and seriously considered giving notice to my employers and going back to Australia indefinitely, and thinking "Fuk that flat... fuk my job.... fu*k everything.... I HATE it here!!!!!

Utter and total craziness. My poor bf. How on earth he puts up with me I don't know.

Within an hour the EA was back on the phone. She told me that the top of the chain were having this survey on a place they were buying and told me in detail about it, but she said they were "adamant" they wanted to complete on May 23, and that it was No2 in the chain now causing a problem by saying they wanted May 30.

However, top of chain were "insistent" it had to happen on May 23. Which reassured me that at least the top of chain were serious about completing, and assuaged my fears that they were stalling. It helped to hear the EA outline the details of the TOC's situation.

So now I've calmed down. Tears, tantrums, but sadly no tiaras.

I won't be doing this house buying thing again in a hurry - it's nearly done me in.

Oh, and the solicitor emailed me to say that we were aiming to exchange Tues or Weds and to complete on May 30, the day before I officially become homeless.

I can't fault the solicitors really, they've been pretty good, and very pleasant to deal with.

It's sounding more and more like a pre-exchange kerfuffle than a drastic change in circumstances, from what you've said.

Hang in there - sounds like you're nearly there.

Hi Christina, I know what you mean about proof of funds, but nobody asked to see proof of my 40% deposit at first.

There were 8 sealed bids on the flat I'm buying and mine was only the second highest but I was chosen because I had a big deposit - or said I did. It was accepted at face value by the EA that I had it.

It was not until I formally applied for a mortgage and had to go into the broker's office with wage slips and bank statements nearly two weeks later that anyone saw this proof.

I don't know for sure if these people were cash buyers or saying they were going into rented, or had some relative's place to stay at or whatever.

I'm reassured that you think it's only a pre-completion kerfuffle. Let's hope it is!

My boss, who recently completed within 3 months, and who never gets into a flap (unlike me) asked me if I'd exchanged yet and I told her my tale of woe. She said, "Oh, it's because it's the first time for you. I've done this so many times I'm blase about it. If it doesn't work out something else will come up."

It was so refreshing to hear that. I've developed this myopic view that if this sale doesn't happen then I'm totally f**ked. But actually I'm not. In a way it will free me up to make bigger and better plans for my life.

In fact, come to think of it, every time something didn't work out for me, something much better came along - and that goes for men and jobs too!

Well done Stargirl, that sounds like the best approach!

I think the only thing you have to avoid with this house buying malarkey is buying something you arent completely sure of, but apart from that just take deep breaths and keep repeating "if it's for me, it won't pass me"!