We had an offer accepted on our house 4 months ago now. It’s been pretty difficult to get anywhere with it as we’re purchasing from a divorced couple who are willing to communicate with each other. Within enquiries (raised on 31 July), our solicitors made it clear that a deed of variation would be needed to exclude the remedies available under section 121 of the Law of Property Act 1925 - all to do with costs paid to a management company and them being able to take possession of our house if we don’t pay them.
It seems our sellers conveyancers have done nothing about this despite repeatedly being chased by our solicitors. They have now been arguing back and forth for over a week about whether it’s needed. Our solicitors are saying it’s definitely needed and we won’t be proceeding without it and their solicitors are saying an indemnity insurance is sufficient. We seem to have hit stale mate as neither are refusing to back down.
I don’t know how to move this forward! The estate agent has been on the case but it seems their conveyancers are still not budging. I’ve given them a deadline of end of October to move things along drastically or we will start looking at other properties, unfortunately there are no other suitable properties. Even if they do eventually agree to getting a deed of variation, I have no idea how long this will take. Our mortgage offer is due to expire at the beginning of December and our first time buyers have been ready to exchange for a month!
Anyone been in the same position? Or have any advice on how I should be dealing with this?