house sale nightmare

[Antonia87]

i, I just wanted to know if anyone else has been in this position. We accepted an offer on my flat last September and we still haven't completed. It was a complicated sale , setting up a new management company and issuing new leases but I cant understand why we still haven't competed. My solicitor keeps telling me next week but has not agreed a completion date and I have now threatened him with the law society. We have no chain either side and the buyers are cash buyers!!! The buyers solicitors are also not much good at answering emails. I cant change lawyers are we now owe this lot a fortune for drawing up new leases. I speak to the buyers every week and they are still game. I just don't know what to do!!

Hi Antonia,
I have been in a similar situation. Try to keep a record of your conversations with the buyers by email and keep cc'd your lawyers and theirs. Make the state agents also aware of of situation.
I hope it gets sorted really soon.

I had this, it was the management company and the landlord being awkward, took months as in your case. I found the only answer was to keep chasing every step. I'm never going to touch leasehold again after that experience! Good luck

Thanks for your responses. I am sending my colleague in this sale down to the solicitors office this week to play hell. I also have the estate agent calling him everyday as he wants his money too. Did anyone have a happy ending?

Leasehold properties are notorious for taking ages. The buyer's will want to have a copy of the management pack - have you paid for it to be provided to them? The enquiries that have to be made on a leasehold property are also much more complicated plus a set of questions is sent to the management company and landlord/freeholder so lots of people involved in supplying relevant responses. Also the title deeds and plans need to be carefully studied with rights of way clarified over common parts. How long is left on the lease - this also delays matters if there is less than 80 years remaining - mortgage lenders can refuse to offer a mortgage if 80 years or less. Another thing is the buyers solicitor will want to ascertain from the service charge accounts whether there are any arrears and will probably want to hold a retention in lieu of any works completed or any works planned but not yet paid for.

I am actually a shareholder in the management company and the new management company which has been set up to accommodate the new purchaser ,so it is complicated ,but nine months complicated? It is really a business to business sale as we, the management company ,are selling two empty flats to another company so I think our solicitor and there don't really seem to know how to organise the sale.