Flat sale stalling - how to complete before Christmas?

[Smorgs]

My sisters and I are selling a flat we have jointly owned and rented out for the last 20 odd years. First sale at the beginning of this year fell through. Second sale agreed in June but we still haven't exchanged and I desperately need it to complete before the end of the year as I live in the EU and my tax status changes from next year, meaning I face a much larger bill for capital gains PLUS social charges if it completes next year.
The tenant moved out when the first sale was agreed so we have received no income for almost six months and we are still paying council tax and maintenance fees etc.
The buyer is a cash buyer and actually a friend of a friend so I trust he wants it to proceed but apparently his lawyer is causing the delays by being slow. Searches and surveys are apparently all done.
How would you go about putting pressure on them to complete before the end of the year (before Christmas ideally)?

Anyone have any advice?

If the problem is with your buyer's lawyer then your buyer, their client, needs to apply pressure.

Your lawyer also needs to be in regular, even daily, contact with theirs, pushing to exchange and complete.

I would contact your lawyer, suggest a date for exchange/completion and, if they agree that it can be done on that date, ask them and your buyer to push hard for that date.

Just tell them that you are expecting to exchange by the end of November and complete before Christmas? Suggest a date at the end of November to exchange with completion in mid December and see what they say?

If your friend is a cash buyer he can “take a view” on minor enquiries if he’s comfortable with that.
You can check your freeholder/management company has sent their information pack and replied to any questions about it.
And FYI the last completion day for most firms this year will be 22nd December.

Are you in a position to offer the buyer a small reduction on the price in exchange for completing before Christmas? Yes, the reduction will have to come entirely from your share and yes you shouldn’t have to do this, but if it’s less than the loss you’re due to make due to tax then to my mind it’d be a price worth paying. It might be the motivation they need to keep on top of their lawyer (if it’s their lawyer who is causing the delay, as pp says the pressure needs to come from their client, your buyer).

It really comes down to money - if you want to force someone’s hand you either need to offer them a carrot (reduced price) or a stick (threaten to pull out, which given how this has dragged out, the market and your tax position I can’t imagine is something you want to do).

Six month for a flat with a cash buyer? this is ridiculous.

Unless there is an issue with your lease/the management company, which should have been flagged up anyway by now , there is no justification for the transaction taking that long.

Give the buyer an ultimatum: if they have not completed by X date you will put the flat back on the market.

Ok thanks for the advice, that's really helpful. I agree the delay is ridiculous. We own the freehold too so there really are no excuses.