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Original poster

What can we do?? Our buyer won't agree on a Completion Date...

31 replies

spook · 10/05/2007 13:54

Hi.
We sold our house 3 months ago to a cash buyer who then pulled out 7 weeks later (and 10 days before our wedding-aagghh!)
Anyway got ourselves another cash buyer pretty much straight away so got married and went on honeymoon safe in the knowledge that it would all be sorted pretty soon after.
All the finances are in place on both sides-our buyer bought the searches off the buyer who pulled out, and the Memorandum of Sale stated that we both wanted to complete "as soon as legally possible"
I am now sat here in a fully packed up house, with removals firm on red alert and chldren who think we'll be in our new home very very soon (esp as their toys are all packed away The agent has just informed me that she doesn't want to complete for another 2 weeks. I am bloody spitting. She is in rented so could quite easily complete and take her time moving in...the people we're buying off are now getting very pissed off at all the delays.
Apparentley our buyer is "going on holiday" next week.
I could scream I really could.
Have we any comeback??? Can I demand we complete sooner bearing in mind that legally every single last thing is in place??
Any advice greatly appreciated and a gin and tonic wouldn't go amiss.
TIA !!!

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Twinkie1 · 10/05/2007 13:57

I thought you had to set a completion date when you exchanged and it was legally binding - that is what I have been told - we were supposed to exchange last Friday and are still waiting - removal firm told us they wouldn't even send boxes until we had exchanged as it would mean us sitting in a room full of packed stuff and being pissed off if we had to unpack it all again!!

Any hold up is ok with us though as we still have no where to live when we move out other than with the inlaws - well unless the house we are viewing tonight works out!!

Good luck.

Original poster
spook · 10/05/2007 14:02

Hi Twinkie-not exchanged yet. Plan was to exchange and complete on the same day-in 2009 by the look of it.

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Twinkie1 · 10/05/2007 14:04

Get them to exchange before she goes on hols and then complete as soon as she gets back - not helful in the short term but then at least you know where you are!!

LIZS · 10/05/2007 14:05

Have you exchanged ? Until you have the completion date is not binding and you have no comeback, anyone could even yet pull out . Presumably they want to minimise the amount of dual rent/mortgage payments and if they are on holiday it may not be feasible to complete or move (especially if they neeed time off work) any sooner . Sorry I know how frustrating and stressful it can be

LIZS · 10/05/2007 14:06

posts x . Agree with Twinkie, exchange asap with a 2 week completion , then you can actually plan ahead and feel a little less nervous.

Original poster
spook · 10/05/2007 14:09

Hi LIZS. I could cry right now I really could.
I think your right-she's not going to want to complete before she goes on holiday but I could insist on exchange.
I threw in out bloody huge fridge aswell coz I liked her and now she fucks off on holiday.
My stress levels are at an all time high. Am going to take every light bulb. Yes-that may make me feel better

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Original poster
spook · 10/05/2007 17:20

Aagh. Now her solicitor saying he won't phone her. Only corresponds by letter so no way of exchanging tomorrow. What kind of a feckin solicitor is that???

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Freckle · 10/05/2007 17:26

Tell her you are putting the house back on the market. You could probably market it at a higher price now anyway.

I know you don't want to do this and it is unlikely to produce a quicker sale, but, if she thinks someone else might come along offering more money whilst she lazes around the pool, it might just concentrate her mind a little. And her solicitor's a lazy arse.

Original poster
spook · 10/05/2007 17:55

Hi Freckle! had thought of this but just don't know if I can risk it. She did get it for a bloody good price tbh coz she knew we'd had our fingers severely burnt already and were desperate not to lose our new house.
God-if I had to do more viewings I might just commit Hari kari (sp!!)
But she does need a bomb up her arse.

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NotanOtter · 10/05/2007 17:57

We are having similar! I find it embarrassing especially as ours are all private sales with no agents so i have to keep going back to my buyer with the news of delays grrrrrrrr
NEVER AGAIN!

NoodleStroodle · 10/05/2007 17:58

I think you should put back on the market too. We had a very nasty experience with this type of thing before although it was the DH being an arse because the wife arranged for her washing machine to be delivered from John Lewis BEFORE they had exchanged contracts which they were arsing around about.

If you put it on the market you might get a better offer plus give her kick up arse.

Original poster
spook · 10/05/2007 18:02

Oh Gawd Notanotter. The one we're buying is a Private sale and am just dreading them calling me up and demanding to know what the delay is.
I am just too scared that if we lose this buyer we'll lose our new house which is absolutely and utterly the house of our dreams.
I must admit NoodleStroodle we are supposed to be having a table delivered to the new house tomorrow-a house we don't even live in...

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NotanOtter · 10/05/2007 18:03

Poor you!!
Ours is my DREAM house too!! I luuuuuuurrrvvvvee it- so frustrating!

chocolateteapot · 10/05/2007 18:08

I had a nightmare with the woman who bought our last house because she had problems with the guy buying hers who didn't seem to want to set a completion date. In the end I chucked a convincing hissy fit and said that if we didn't exchange by the end of the day (was a Friday) then I would be pulling the house off the market and renting it out (we had already moved out). I think I convinced the estate I really meant it which I didn't, I just wanted to force the man at the bottom of the chain to get on with exchange. We ended up exchanging that day but with a completion date of 3 weeks later.

In your position I think I would say that unless you exchange tomorrow with completion set for 2 weeks time you will be putting it back on the market.

Freckle · 10/05/2007 18:39

I presume you are no longer subject to a sole agent contract with your estate agents? If so, tell them you are remarketing with another agent as the buyers they have produced so far have done nothing but mess you around.

Believe me, if the agents think they are going to lose their commission, they will call your buyer even if her solicitor won't. The solicitor can afford to be difficult as he can charge his client regardless of the outcome of the purchase, whereas the agents will only get your money if the sale goes through .

Millarkie · 10/05/2007 19:02

Are you exchange/completing on same day because the buyer has no deposit? Otherwise I would echo the advice given below, ask for exchange now and set a completion date of 2 weeks time.

We have been on the verge of exchange for the last few weeks (original completion date was 23rd April)..and we also have a private sale for the house we are buying so have had a lot of polite, but stressed phone calls to explain delays. Since last Friday both our solicitors and the sellers solicitors were sitting on their arses waiting for the other one to do something..my dh finally got them to talk to each other today and we are now set to exchange tomorrow.

LIZS · 10/05/2007 19:28

If they are genuine cash buyers getting a deposit togetehr should n't be an issue.

Millarkie · 10/05/2007 19:42

That's true - so they must be able to split exch/completion

NannyL · 10/05/2007 23:59

me next door neighbour moved about 6 weeks ago now...

he got so ctoss with buyers who had been taking their time since november that he put his hosue back on the market...

with that the new purchaser exchanged the next day (and agreed a completeion date of 5 days later)

maybe its worth doing just to call their bluff!

Original poster
spook · 11/05/2007 09:38

Thanks girls....am taking you up on all your brilliant advice.
The only reason we were exchanging and completing on same day was for speed tbh.
Am just waiting to hear from agent/solicitor (don't hold yr breath) and if she is not prepared to exchange today I will call her bluff and put it back on the market.
If it backfires and she says ok then I think my 3 week old marraige may well be over lol but it's a risk I am willing to take!!
You're right about the agent Freckle. DH is furious with them.
I don't want to live here anymore. You know when your heart has just gone from a property?? Its a gorgeous house but not the one I want to be in anymore.
Watch this space!

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Freckle · 11/05/2007 10:42

Good luck. I can understand you wanting to buy your own house together.

Freckle · 11/05/2007 14:47

Have you spoken to the agents yet? Have they managed to persuade your buyer that she can't just bugger off on holiday leaving everything hanging?

anniemac · 11/05/2007 14:59

This reply has been deleted

Message withdrawn

Twinkie1 · 11/05/2007 15:08

Bloody hell - well our news is after not completing last Friday because the numpty at the beginning of the cahin DH has just called and said that they want to exchange today and complete next Friday - bollocks will they I have 2 kids and loads of shit to pack they can wait till the Friday after - hopefully you will be in position soon too Spook!!

Mind you we only offered on house today - we have to move to in laws for a while - thats one of the reasons I don't want to move next week - I want to have the least amount of time at in laws as possible!!

Original poster
spook · 11/05/2007 15:20

Hi girls. Great news though Twinkie1!!
Mine news is shite.
I did what you told me to...doffs cap...and said I want it back on the market, but there is NO WAY apparently our buyer can exchange till May 23rd. Her fucking solicitor will not let her sign contracts by post-she has to go in the office and cannot do so because of her work commitments
So I threw in the towel in the end and said if she can guarantee exchange and completion on 23rd then we're on.
So that is that. I felt quite smug at first to have finally pinned down a completion date but in retrospect I just rolled over and died didn't I?!
DH is spitting-another 12 days stubbing my toe and fucking boxes.
Maybe I should just bundle us all up and go on holiday!!

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