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Original poster

Is this sale going down the pan? Sellers failing on their part of the deal.

45 replies

Dillydallyz · 17/02/2020 16:23

Hey, I’ve been an active lurker...
But I have a problem.
I have sold and am now a cash buyer, just me, I did well on my previous so was able to jump from FTB property to decent family size property on a nice plot.
I’ve signed all paperwork and transferred my deposit but this was 2 weeks ago and my sellers are dragging their heels.
My solicitor is nonchalant and agent is just like “yeah that’s not right” we will come back to you.
Where would you go from here? I like the property but don’t love it. I am so ready to go and a very valuable buyer (IMHO). Should I start viewing other properties? Is this going down the pan? I know none of you can answer but vendors of £450k plus properties would you not be trying to keep your cash buyer sweet?
I am inclined to renegotiate I asked for an end of Jan completion and was assured this would happen, given the price they wanted and so I agreed, but here we are, mid Feb and not even exchanged.
I don’t want to change my offer last min as I think that’s poor show but I agreed to this price on the basis they would be out by now. I was thinking of asking if they can’t complete this week to pay my stamp duty? To be clear I’ve done everything my side including transferred my deposit. I’ve responded within 24hrs to everything. I’ve hired a van waiting to go and am all boxed up. Living in a borrowed caravan atm with no heating! The joys, so I’ve totally done my bit. Just feeling totally fed up. I last bought a property 10 years ago so no clue nowadays!

OP posts:
Instagrrr · 17/02/2020 17:36

Could you give them an ultimatum or you pull out?

BugPlaster · 17/02/2020 17:44

Your solicitor and the estate agent you are buying from should be chasing/ pushing this. Make it clear to them you need action - a date for exchange with completion to follow within a week or similar.

Robs20 · 17/02/2020 17:44

Have you exchanged? If not why do they have your deposit?

Unfortunately some people just don’t want to move that much. We were ready to go last year - sold our flat and the house we wanted to buy had been on the market 18 months. Sellers massively dragged their heels and despite our solicitor being ready within 5 weeks, it took me threatening to pull out and give them a final completion deadline for us to actually get moving. We eventually moved in 2 weeks ago, over 4 months after our offer was accepted.

If you would be happy to walk away I would give them an ultimatum- eg exchange next week and complete the week after if all other paperwork is completed.

mencken · 17/02/2020 17:47

you pay the solicitor so he/she needs to be stop being 'nonchalant' and start earning their fee. Demand some action.

atomicnotsoblonde · 17/02/2020 17:49

You seem really far ahead of yourself. What position is the rest of the chain in? Are the searches done? You don't sound anywhere near exchange even tbh.

Spickle · 17/02/2020 17:53

There is a hold up somewhere. If it's not you so who/what is it? What are your vendors buying? Is it ready or is there a chain going further up? If your solicitor is nonchalant, that suggests to me that someone is not ready and there is nothing your solicitor can do except wait. Your estate agent can chase the various links in the chain, get him to find out what's going on.

crosstalk · 17/02/2020 18:01

Your solicitor should be explaining the hold up and chasing it for you. Solicitors can also negotiate problems in a chain. Ask them and get them to sort it to your satisfaction. Ask them why they didn't make a January move a condition of the sale. I dearly hope you have a local solicitor not one of the banks of conveyancers ....

ChicCroissant · 17/02/2020 18:06

What reason have you been given for the delay, if any? It sounds as if there is an issue with your vendor's onward purchase tbh. I would continue to press the EA for details.

PigletJohn · 17/02/2020 18:42

keep looking.

EmptyFieldOfFucks · 17/02/2020 18:49

We had to keep ringing and emailing both the agents and the solicitors, every single day.

The more noise you make, the more notice they have to take.

And in your excellent position I would be more than eager to start looking elsewhere and inform your agent of your intent, inform the solicitor that you are going to pull out if the exchange isn't within a week and the completion a week on from that.

Alsoco · 17/02/2020 18:52

The solicitor isn’t an estate agent and shouldn’t be chasing for you. They’re far too busy for that. There are estate agents involved for a reason.

Ask the agent what the delay is and if it’s a legal matter then get your solicitor involved.

Callimanco · 17/02/2020 18:57

Are you buying chain free? Unless you are, I find your post strange as you seem to think that as a valuable cash buyer you can influence the rest of the chain to move faster, which you can't if the rest of the chain isn't ready. What is the hold up? Where are your buyers going?

Callimanco · 17/02/2020 19:00

Plus as a vendor of a 450k house I may be buying a 750k house so you wouldn't seem all that, to be honest. I mean you have done well, but you aren't going to be so super rare that I need to pander to you. Lots of families buy in that range. What's unusual is that you are in a position to buy alone; the amount isn't unusual and it's a crowded market at that level.

user1487194234 · 17/02/2020 19:17

The thing you need to find out what the problem actually is
If the problem isn't with your solicitor then phoning your solicitor every day won't help
Once you know what the problem is,and what needs to happen to resolve it ,and likely time scale you will feel more in control

Seeingadistance · 17/02/2020 19:26

Who has your deposit?

Mildura · 17/02/2020 19:28

OPs solicitor presumably

HeddaGarbled · 17/02/2020 19:42

It’s not unusual to have hold-ups somewhere in a house-buying chain. It’s not necessarily under your vendor’s control. Could be a problem with a survey or searches somewhere up the chain, someone using one of those crappy online conveyancers, someone on holiday or got a family crisis going on.

I don’t think you’ve any justification in reducing your offer. You could start looking at alternative properties if you want (chains often collapse), though bear in mind that if you pull out and start again you’ll be back to the start of the process with no guarantee that the new chain will complete any quicker.

Original poster
Dillydallyz · 17/02/2020 20:02

I'll try and answer what I can.

All searches done on both.
My vendor is buying a renovation which is chain free. There is only me and then my seller plus small time developer who wanted 28 day completion.

My solicitor has my deposit. Solicitor asked for it. Very frustrated as I could have been making some of that capital work for me. Not to mention loss of interest. I'm not the one willingly handing over deposits. I was asked for it.

I get I'm not all that Wink but I do know not having a chain underneath me is quite unusual.

Of course I'm not using a conveyancing firm, I'm using my usual firm of solicitors. Who handled previous sale, I have first hand experience.

I have browsed right move this evening and will go see some this week.

OP posts:
Alsoco · 17/02/2020 20:11

Ahh. Could well be the developer. It’s a niche area so the chain above will take a little bit more time as opposed to the standard residential freehold purchase

That’s my bet anyway, could well be wrong!

firsttimeivfmum · 17/02/2020 20:26

Chase estate agents every day. If you don't get anywhere move to solicitors. I called 3 times a day every day for 3 days and they got the picture that I wasn't going away. We had to. We were moving before Xmas. If we hadn't have moved the day we did then we wouldn't have moved until after new year!

Spickle · 17/02/2020 20:30

Developers always want a 28 day completion but very rarely get it. As your vendors are buying a renovation, I expect there are a lot of enquiries regarding whether it has been done to building regulations, has got planning permission and have appropriate certificates etc.

Original poster
Dillydallyz · 17/02/2020 20:53

Apparently all searches have been complete Confusedand they have put deposit down with the developer. At the beginning the EA actually asked me if I would slow things down! The irony!

OP posts:
sunshinesupermum · 18/02/2020 16:53

What would the situation with your deposit be if you walk away? Why were you asked for a deposit when it wasn't at date of exchange which is the norm?

I would also be looking elsewhere as a backup esp as you have a buyer and are ready to go!

Mildura · 18/02/2020 17:02

It is normal for a the buyers solicitor to request that the buyer transfers the deposit when they believe exchange of contracts is imminent. In the event contracts are not exchanged for any reason the deposit is simply returned.

It sounds like the OP may have already sold, as they describe themselves as a cash buyer, and mention they are currently living in a borrowed caravan.

Original poster
Dillydallyz · 19/02/2020 08:28

I have an update, the sellers are trying to get alternative funding for their inward deposit for mortgage to get a better LTV and have a 30 day notice period to withdraw the funds. Really shady of them, no one knew this! They've been stalling. So still on going!

OP posts:
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