Am I worrying?

[Bogfaerie]

I was suppose to exchange contracts on Monday was told by solicitors it was definitely happening. Move date was set . I never heard anything so contacted conveyancer . Was told move date definitely set. I had to put deposits as its so close. I got in touch with EA been told they are trying to get hold of the person at bottom of the chain for deposit. Days have past since. Im now really worried. Im not being updated its less than 2 weeks to move date and not exchanged due to the person at bottom of chain. Any advice

There is really nothing you can do but wait. 2 weeks befor emove date is still plenty of time if you are in England. Exchanges happen closer to the date. Weird and unreliable system.
Check in with your solicitors on Monday.
Last time I was moving, pre agreed dates were moved 3 times before we finally managed to exchange due to 1 person in a chain....

Where are you in the chain? Ultimately, if the first in the chain doesn’t sort themselves out, and nobody else has the funds to proceed if their sale falls through, none of you are going anyeahere.

Im at the top. Its the person at the start that has not deposited funds.

@TheAlwaysThereButNeverUsedCeilingLights due to the date to move being close ive had to pay non refundable deposits and hand my notice in as im moving to another county.

I get that but if you are in England, nothing at all is sure until funds are received/send really. At least after exchange there are some penalties.
The most you can do is to speak to your solicitors to try to find a way. You don't need to be physically in UK to complete as wwll so if it happens after your move, it could still be ok? That's assuming you are keeping uk bank account (many are fine with you having address abroad).

@TheAlwaysThereButNeverUsedCeilingLights all buyers are in UK. A date was set for exchange everyone was ready and agreed then im told the bottom of chain hasn't transferred funds and they are trying to get hold of them.

What did you put down a deposit for? Was it removals? Hopefully the people at the bottom get in contact and have the funds for their deposit. You don't need long between exchange and completion - we exchanged yesterday and complete on Monday.

I had 3 lots of exchange dates before the chain broke. The removals in my area wouldn't take a confirmed booking until exchange had been achieved. The whole situations made me a nervous wreck. No idea how earth people do exchange and completion on the same day. I would be very neverous if the FTB is AWOL.

Are you committed to buy your new home on a specific date? I see on another thread you are buying a new build.

@canyon2000 yes removals , kennels etc as they want deposits and other people want those dates so I had no option. Im relocating so had to hand my notice in too. They knew I would be leaving but its got that close plus a date was set and solicitors said it was definitely happening. Im ill with it all now .

I exchanged and completed on the same day. Plenty of time.

Nothing is definite until exchange, unfortunately.

That sounds really stressful. Ring your agent first thing on Monday. Hopefully you will exchange soon.

Just to note, it's possible the bottom of the chain just had money in some savings usinf obsolete enough systems that take stupid time to clear to their account. And they didn't realise.
Funds had to be proved beforehand anyway.

This happened to me, we exchanged 48hours before completion. I had (like you) taken a punt on booking/paying for removals etc. luckily it all was okay but I didn’t sleep a wink all week!!

Sorry OP but in England nothing is certain until contracts are exchanged. Until then the move (completion) date is only a target. Completion may happen on the agreed day but it may not.
Hope it goes well for you but can you start putting some contingency plans in place in case it doesn't happen as planned?

@AmIHumanOrAmIAYeti yes im buying a newbuild. It is now ready.

@Irenesortof all plans are put in place already. Its a first time buyer at the bottom of a chain of 3.

OP, if I have read this correctly you are buying a new build home in another country. That does sound stressful.

whats going on here is perfectly normal and as others have said until deposits are paid and exchange happens everything can fall over in an instant.

Removal companies are very experienced with this, they deal with it everyday and are used to shifting and swapping dates. You won’t loose any deposit with them. Kennels too, they will switch your deposit to an alternative date. You may loose deposits if you don’t use the service at all though.

why don’t you plan for your things to go into storage for a short while on completion whilst you take a short term let. That will take some of the stress away for you.

TTMC1 I am buying a new build in this country . My removal company wont swap dates they are busy same with kennels etc. Business cant afford to lose Business. I cant afford to put anything in storage nor rent anywhere . Ive moved before but never this close.

The bottom of chain is supposedly a cash buyer. I know I can transfer cash over straight away as my moneys put away to buy my home. Im still waiting for updates all im been told they have an issue with deposit.

It depends on what the issue with the deposit is. Do they actually have enough money? Is it in an account that takes so many days to transfer it? I think it also needs to come from an account in either/both their names.

I hope it all works out OP, nothing worse than delays exchanging.

Might be AML some mess up. Mine took ages with some part of deposit coming from abroad. Or if they had it as gift, they didn't do declaration early on etc.
That should have been sorted well ago tjough. But things crop up

@Middlemarch123 the whole thing is an utter farce. I feel fobbed off by all waiting for the buyer to actually respond. How long would you wait till you set a deadline.