Any estate agents/conveyancers on here please?

10 replies

kinkytoes · 11/12/2015 21:41

Why would a buyer continually delay a house purchase? Especially when they were the ones who requested a move before Christmas? We've been ready to exchange for over a month

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lalalonglegs · 11/12/2015 22:40

Not either but they haven't got the money would be my major suspicion. Or they are trying to back you into a corner by stringing it out so that they can gazunder you. Or they're just flaky.

Fizrim · 11/12/2015 22:46

Money would be my first thought too!

JT05 · 11/12/2015 23:50

It always boils down to money. They'll think of a reason to get a reduction on the price when you can't wait any longer.

Original poster

kinkytoes · 12/12/2015 05:20

Thanks for replies. We've had word from their solicitor that mortgage is in place, plus they've had a detailed survey done on our house. Do you think it's money to pay their Solicitors that they don't have? Would imposing a time limit on them help us? I'm worried about our own mortgage offer running out if we have to find a new buyer.

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Tummyclutter · 12/12/2015 05:25

I'd ask your agent to check the chain out, it could be their buyers holding up.

Spickle · 12/12/2015 10:27

I'm a conveyancing assistant. Could be money, but usually solicitors are paid when monies are in on completion day not before. Is your buyer a first time buyer - difficulties in getting the deposit together? Or does your buyer have a related sale? If so, perhaps that's not ready because there are hold ups with paperwork or because your buyer lost their buyer and they are frantically trying to catch up with a new buyer. Alternatively, has your buyer (or his buyer) changed solicitors? If your buyer has had a survey, do you know whether there have been enquiries made as a result of this? Or ditto with his buyer? There could be problems with your buyer's ID or if his property is in different names on the title deeds, your buyer would have to provide evidence of a change of name etc. Another scenario might be that your buyer is selling a leasehold property (or his buyer?) and there are delays/problems with the lease, or the management pack is still to be provided or a lease extension?

Unfortunately, time limits are imposed by clients not by solicitors so while it 'may' jolt your buyer into some action, if there is a 'problem' which needs sorting, a time limit will not solve anything.

Good luck!

IShouldBeSoLurky · 12/12/2015 11:58

Maybe they just don't want the hassle of moving this close to Christmas? What did the survey say?

Pipnposy · 12/12/2015 12:05

Are you me OP?! We are having this exact same issue (but it's our buyers' buyers). I've had enough and have just been to the EA to say we exchange this week or the sale is off. It's the continual delaying for no apparent reason that gets me; if they were honest and said we can't exchange until X time because of Y reason I would be as accommodating as possible.

Rangirl · 12/12/2015 12:39

Word from their solicitor that the mortgage is in place
I would get your solicitor to drill down a bit on that
Do they have an actual written offer of loan from a Lender
If so do they have a elated sale that there is a delay with
Can you speak to them direct and ask what the problem is
99% of the time there is a problem with the money

Original poster

kinkytoes · 13/12/2015 09:47

Thanks again for replies.

We've already said we don't want to move this side of Christmas - but we would like to at least exchange for peace of mind!

EA seems to think the delays are down to the solicitors so will be giving ours a ring tomorrow - although if it's the buyers' solicitors slowing things down then I'm not sure what we can do.

Sympathies Pip! Let me know how you get on.

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Flip