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

[Dillydallyz]

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!

No need to say anything to anyone, just let this keep running, but yes I'd be out there looking at alternative properties. I suggest you only look at ones which are chain free. This is what I am doing.

I'm a cash buyer too and should have completed by the second week in Jan having had my offer accepted back in October; we have not even exchanged. My sellers have lied constantly about their position and as far as I am concerned I owe them nothing.

That's a pain, but the sale is still going ahead then - did they give you any idea when the funds would be released?

IME your own solicitor asks for the deposit money quite early but they hang on to it and just confirm to the vendors that they have it. I ended up paying for a fast bank transfer of funds the last time we transferred a deposit over (it was too large for the freebie permitted transfer rate and would have taken ages to do it in smaller chunks) but then there was also a delay so I could have done it gradually after all!

I hope it is all sorted soon for you OP, this is not the weather to be without heating!

@Butterfingers64 that's how I feel, they said they would complete independently regardless and now this. Why do people do it!?

I offered exactly what they wanted. Feel like they are taking the Michael.

@ChicCroissant allegedly next week. However I have been told we are going to "exchange tomorrow" multiple times now. So may exchange next week now!!

Why do people do it!?

There seems to be a lot of very selfish people in the world, and there is nothing like a high value housing transaction to bring out the worst.

Get your deposit transfered back. It could be earning you interest rather than sitting in your solicitors account. I'd seriously recommend that you consider that this house is now unavailable. They have already broken their word, haven't they?

We were strung a line of similar reasons for delay, ended up dragging out for 9 months (!) and still didn't complete. Look around for other properties, prioritising those offering quick completion.

If at the end of the day, the sellers suddenly get their arse into gear then you haven't lost anything. However, as seems probable, they are messing you around, then you will be further ahead in finding your new home.

I would start looking elsewhere and moving into a rented flat in the meantime.
If you don't love the place, why not take this opportunity to find one you do love? X

Give them a date to complete by or withdraw

Try reducing your offer. If they're that keen to move they'll take it, otherwise pull out. They could keep you hanging for ages.

Although... buying a different house will probably take longer!

I'm promised exchange Monday latest...

Crossing many body parts for exchange OP, how much of a gap is there between exchange and completion for you?

@ChicCroissant

10 days I am told...

I strongly advise you to play hardball here - ask your solicitor to put some sort of penalty in for any further delays - and give an explicit date after which you will withdraw. And mean it. We had 'plausible' excuses repeatedly. I think they play on your 'sunk cost' investment mindset. Perhaps think about it more like getting out of a lost cause sooner rather than later.

Any news OP, I am thinking of you and hoping you are packing!

Similar to your experience, we sold a house and exchange didn't happen on the day it was expected - I can't even remember why it didn't happen now - but it is so frustrating and all you can do is speak to the conveyancer/EA involved and press them for an answer.

Hey! Exchanged yesterday and they want to complete ASAP so we have said Monday. Literally can't believe it! So happy. Thank you for asking

Fantastic! Very best of luck in your new home Hope I didn't interrupt your packing and enjoy the heating

I am very nearly almost there. Feels quite timeline as the temperature has just dropped so only a few days chittering left! Tyvm.

Hooray!

Well completed today and the vendor has left a ton of stuff inside and out, and not responding to solicitor! Argh!! Mainly junk but not my junk!

Send 'em the bill for rubbish removal and congratulations on your lovely new home!