Was IBU to threaten to pull out

[TheSecondMrsAshwell]

So, I viewed a flat in March, had my offer accepted on 26. The vendor missed out on the first property he wanted, but got another about 6 weeks later.

And nothing. My searches and paperwork are all complete, but 5 and a half month later, I am no closer to exchanging than I was on the first day of April.

I was going to come on here to discuss the pros and cons of saying that I would put a bit of heat under them by saying that I would pull out if we didn't exchange soon. I'd be mad to do so as I am getting a very good deal.

The EA rang today to say that my vendor's searches were taking time and I just blurted it out because I was so pissed off. I said, in the end, that I didn't want to threaten that, but if she could impress on the vendor's solicitors that I am getting very frustrated.

In addition, my Agreement in Principle expires next month, so if we don't exchange, I have to go through all that again.

It doesn't help that I pass the flat on my way to work and on the way home. I can't plan anything - I need time off work to sort the flat, I need a new cat (long story) and I need to plan packing.

So have I made a huge goof?

So have I made a huge goof?

Absolutely not! If anything you've been a bit too passive letting it drag on this long when you've only got four weeks left until your AIP expires. You need to get an exchange date sorted before that lapses, so putting a rocket up the EA and solicitor is a good thing.

Maybe start looking around at other properties this weekend. That might inspire your EA to take you seriously.

This really is a ridiculous time frame and I suspect that your vendors along the way may have lost out on more than one purchase. But looking at the timescales so far...

Let's say for argument sake that your timescales are a bit out.
End of March your offer accepted, then end of May your vendor finds somewhere after their first one fell through.

End of May to date is circa 3.5 months. From your vendor side it's not actually that awful at all and you are just caught up in the slowness of their end. If you think you are getting a good deal I would stick with it.

But to hurry things up I would contact the EA again and impress on them that your mortgage agreement will expire so there is obviously a need to exchange before xxxxx date.

All is not lost, but in these situations frank and transparent communication is the key. Hold tight but have a further conversation with EA next week and ask where everybody up the chain is at - also stating the expiration of your mortgage deal.

Your vendor is being ridiculously slow and uncommunicative and I’m not surprised you are frustrated, but you say your AIP runs out very soon - does that mean you don’t have your actual mortgage offer yet? I think they are taking considerable time at the moment to process.

And don't forget stamp duty comes back in effect on 1st Oct for sales over £125,000 if that applies for you.

...this sounds like you haven't actually even got a mortgage offer, you're nowhere near ready to exchange?

In addition, my Agreement in Principle expires next month, so if we don't exchange, I have to go through all that again.

AIP or mortgage offer? Because if the former then you've been dragging your feet too!

To clarify, I do have a mortgage offer - the RoyalBankofBlackHorseMinster has offered me a mortgage and the offer expires on 29 Oct (when I typed AIP last night it was because it was the only phrase that came to mind - but then I had steam coming out of my ears at that point!).

It's true, I have been too passive over this. That's me all over. I put up with shit for ages then lose it unexpectedly. As this is my first house purchase, I wasn't sure what to expect. On the one hand, there were the "viewed-it-Saturday-moved-in-the-following-Thursday" type anecdote and on the other hand, the Mumsnet moving disaster threads. It wasn't till last weekend that I totted up how much time I'd waited and took into consideration how long the mortgage offer had to go.

In the meantime, I'll take the advice of @friendlycat and get back to them early next week with a more solid demand.

Thanks all

YANBU AT ALL! I’m in a similar situ to you and it’s sooooo stressful waiting. Hope it all works out

Thanks @ALbigbump

How long have you been waiting?

Actually MrsAshwell - ring the estate agent today, ring them now.

You can say you've been thinking about the situation and as your mortgage offer expires on the 1st Oct, you expect them to be in a position to exchange next week and move by the 1st. Searches shouldn't take ages - the solicitors need to put the time in and clearly they haven't.

Say that you're giving the vendor the weekend to think through their options, but you will also start looking at the market this weekend. If you are going to have to re-apply for the mortgage (which I assume will cost you money) it may as well be for the purchase that will proceed.

My DF has just had the same situation - solicitor doing sweet FA for ages on a flat with vacant possession - took from offer in March until move 2 weeks ago.

And next time - ask for weekly updates from all parties - your solicitor, the Estate Agent & the mortgage company. You'll have to ask weekly as they will not, even if you ask them and they agree to.

Hope it works out

I put offer in at start of April. I sold my old house and moved into new house mid June . It was in middle of all the massive backlogs due to stamp duty holiday
I was not “lucky”. My solicitors were crap at communicating and progress. But I was all over them, tracking progress, emailing, chasing, demanding progress update calls ( gave them 48 notice of each request). T really is a case of shouting louder than anyone else, and being prepared to make a nuisance of yourself.
If possible have open lines of communication with your direct chain links. That way you can check if they’ve sent x document to their solicitor, and then at that point you can chase your solicitor to say their solicitor now has x, please chase. Stuff like that. It took a lot of my time, but right now with all the backlogs it seems like it is the only way

I would add, that I have moved many times and have never had to do this before. Solicitors historically kept me updated and progressed things along without being chased.