Advice needed! Delays on house sale

[Spangledstarlight]

Hi,
I could do with some advice! Sorry it’s long..

I accepted an near to asking price offer on my house at the beginning of April from a cash buyer, with a verbal timeline of three months to completion.

It’s a first step on the ladder type house and had been on the market for two weeks. My buyer changed solicitors mid May as his first solicitor didn’t deal with the mortgage company (so not all cash then!).

Searches have apparently been done according to the EA and the EA has the name of the solicitor which he says has changed twice.

My solicitor however has tried several times to get the new firm which he says is a conveyancing factory to confirm that they are acting for my buyer but has had no response. No queries have yet been raised and I can’t seem to get an answer as to why other than that solicitors will send queries when ready.

I am now concerned, don’t understand why there’s no communication and said last week I am considering a deadline to put the house back on the market. My EA has said my buyer would walk and then advised giving my buyer a week to exchange which I didn’t feel was realistic as no queries have been raised!

My buyer then came back at the beginning of the week with a proposed exchange this month, to which I said I’d need for confirmation or at least communication via solicitors.

I’ve checked at the end of the day and still nothing! There’s no chain involved luckily but I do need to move and I feel as if it’s dragging on. I just don’t know what else to do, wait or put my house back on the market and would be grateful for any advice! Thank you

My experience of those online conveyancers is very similar: lack of communication, very slow, never speak to the same person twice. I’m intrigued as to why your buyers have changed solicitors/conveyancers twice. Once, understandable; twice, a bit concerning. I think I’d be leaning towards putting it back on the market.

Delays have been caused by your buyer changing solicitors (once or twice). All ID checks and getting the client signed up has to be started again and the draft contract pack has to be re-sent to the new solicitor. The draft contract pack has to be reviewed by the new solicitor and they will make their own enquiries. As far as the new solicitor is concerned, this transaction has only just started.

By the way, deadlines imposed by the EA or between the seller/buyer are a waste of time and completely unrealistic. Neither the EA, nor you and your buyer are in any position to set deadlines, since the solicitors are unable to exchange until they have done their work.

If your buyer is obtaining a mortgage then they are not cash buyers.

Hi @HeddaGarbled and @Frecklespy hope I’ve tagged that correctly!

Thanks for your replies.

HeddaGarbled my solicitor said it’s a change of solicitors once but the EA has said he had a change of name so two different solicitors within the conveyancing firm, if that makes sense. I’d be happier if my solicitor had some any?! kind of confirmation they were working for my buyer. I don’t want it to keep dragging on only to wish I’d marketed it earlier..

Frecklespy thanks yes I see, until the solicitor is convinced all is ready I guess any deadline is moot, that’s worth bearing in mind with my next conversation with the agent. I suppose then having a deadline to remarket isn’t useful I am concerned there’s nothing been sent to my solicitor though. Yes if what the EA reported is correct it’s not a cash buyer

Conveyancing is moving very slow in general at the minute, I think they're back logged and there's too few of them and a lot now work from home so it's harder to get hold of them 🤨 yes you need some for of communication before you can agree to exchange op, hang in there and stand your ground. X

This is the article i was reading

www.express.co.uk/life-style/property/1634916/housing-market-property-housebuyers-record-delays-latest

We made a cash offer at the end of March, and are looking to complete next week. It might get pushed back a week, as there are one or 2 things still to get ironed out. That's with everyone in the chain pushing to complete (initially they wanted mid June to complete).

Nothing else I'm tracking that went under offer at a similar time has completed yet.

HOWEVER, you are miles off that stage. If stuff is still selling fast round you, I'd go back on the market.

This invariably happens as cash buyers are often a pain in the arse or not true cash buyers. It's annoying as we lost out to two houses that the sellers went with cash buyers instead. We had an approved mortgage & were chain free so I thought pretty attractive. One has contacted me this week to say one is back on.

Our chain free sale took 6 months from offer. Long solicitor delays.

Conveyancing factory - my heart sank for you. They are diabolical to deal with. Not sure what the market is like where you are but I would consider putting back on market.

Hi @sarahc336 thankyou over 139 days average to completion! Yes something via solicitors would be more reassuring. I’m hanging on at the moment that’s true! I’ve asked the EA to go back again to the buyer but isn’t the definition of insanity doing the same thing and expecting a different response!

Thank you @KarrotKake Its a desirable area I’m in, not had any experience of selling a house before to judge how fast things are but I know a similar property went in a similar timeline. It doesn’t look as if there’s a whole lot to choose from in my price bracket.

I guess I’m just nervous following the EA’s comment! Noone can say how someone will react I suppose. At the same time 3 months albeit with a change in solicitor I don’t understand why they can’t at least confirm they are acting for my buyer. Not confident that this will lead to an exchange this month and feel I’m going round in circles 😵‍💫

@plugee @pilates hope I’m tagging correctly long time lurker but first time poster! Thank you both, plugger 6 months for chain free what a wait for you!

Pliates Yes going from what my solicitor says it’s not unusual for these firms to be slow, thank you I’ve phoned my EA again today to chase up the buyer to get on to his solicitor, stopped short of asking to remarket or to to discuss what other interest he’d had but I am seriously considering it.

I guess I just don’t understand why the solicitors won’t even respond to mine. I appreciate there’s been a change but that was mid May and if it was me in my buyer’s position I’d be pressing my solicitors to at least confirm they were working for me for fear of losing the house. I think if I had that then I’d be more reassured. My EA suggestion of pressings for an exchange in a week I understand even less and I don’t like what I don’t understand!

So it’s been 24 hours since my EA tried to call then emailed my buyer to request again that he get his solicitor at least to communicate that he’s acting for him even if they don’t have the actual queries yet and ….crickets! Wouldn’t you be falling over yourself to reassure a seller after 3 months? If I’m reading the room with this and all your lovely comments - thank you! then it’s telling me to remarket!