Memorandum of Sale

[Gremlin1]

We had an offer accepted on a property around a month ago. Our vendors have had an offer accepted on a place but the person they are buying from is still looking.

Our vendor's estate agent has said they won't issue the Memorandum of Sale until the chain is complete and has also advised we shouldn't book a buildings survey yet, either - until the chain is resolved.

We have two people below us in the chain so all feels very precarious.

I am starting to worry - is this usual or is it a sign that they are not fully committed to the sale?

I got my MoS after my offer was accepted in mid December. The vendor have just had their offer accepted on a property which is chain free. Fortunately this has all fallen over the Xmas period but I wouldn’t have started the process until the chain was complete.
IMO the EA was giving you good advice- why incur costs if you don’t know whether the chain will complete.

I agree that this is good advise. I wouldnt want to start paying money out for thing if the top of the chain havrnt found anywhere and I think it's only fair to allow time for them to find it. I wouldnt think they arent serious about the sale, I would think they are being quite thoughtful tbh. Good luck x

Great to get your thoughts, thank you.

I suppose I'm just concerned that it indicates they could pull out and also I worry that we're not leaving enough time to do searches etc particularly with stamp duty deadline looming.

Also worry what our buyers (and their buyers) would think.

Really good to get your take on it as others have been sceptical.

A MoS won't stop anyone pulling out, but I would have expected to have received one by now.

I think at this point you have to assume you’re not going to meet the SDLT deadline (unless it’s extended). You’re in a chain of at least 5 and things are taking much longer, I think even in normal times you would’ve struggled to get it completed by March especially as your sellers seller hasn’t found anywhere yet

Apparently it is this estate agent's standard policy not to issue memo of sale until the chain is complete.

Spoke to them today and they are going to see if the vendor is willing to appoint solicitor and issue memo.

Think you're right re March deadline but would be good to try and get things moving at least...