HELP PLEASE - Contract trouble!!!

kiwichick

I could bl***y well cry I really could. I got a phone call at 4.50pm on monday night to say the exchange was happening on the tuesday(yesterday) and completion/moving day would be the 10th of March. I spent ages on the phone yesterday arranging a removal firm, had them at the house at 8am this morning to do a thorough quote, booked them and paid £100 cash deposit.

I phoned my lawyer at 10am to find out if the echange went smoothly only to be told that the people we are buying from havent had contracts issued to them for their place of purchase yet. The estate agent told me that the people they were buying from were moving into rented accommodation and to proceed as soon as possible. It now seems they arent renting and are still waiting to find a house to buy.

I phoned the agent and it seems that the guy working my case has left the firm! No-one told me, no phone call or letter. Not only that but it seems that no-one has taken over the case :mad: :mad: :mad:. So now I am screwed totally because my buyer signed their contract and paid the deposit yesterday. We signed our contract to sell ages ago. It looks like we have tomove next week and have nowhere to go. I am going to have to arrange storage for all our things. At this rate we will be in a hotel as its too late to be looking for rental property.

I DONT KNOW WHAT TO DO!!!!!!!!!!!!!!!!!!!!

silvercar

Speak to your solicito, just because you have signed papers does not mean they have been formally exchanged. It is very unlikely that you solicitor would put you ib the position of exchanging on your sale but not on your purchase without warning you of the possibility of being homeless. Normally they all liaise to coincide completion dates.

Jorgan_2

As silvercar says, if you haven't exchanged yet you will not be moving next week. Your solicitor won't put you in a situation were you have exchanged on your sale but not on your purchase.

Speak to all parties or EA's, in the chain to try & find out what is happening. Are the people you are buying from adamant that they want/need to find a property & won't go into rented? Make sure your buyer is aware of the delays & that it isn't your fault. Try & find some common ground that all parties are happy with.

quatro

Sorry tp hear of your predicament. I was in a similar one whereby I had to exchange with my buyer [couldnt risk losing him] before the papers pertaining to my purchase were ready for exchange - as I had had to go for an alternative property late on in the proceedings.
However my solicitor talked it through thoroughly and I was aware that it may have meant moving out and storing my furniture [which I was willing - but not happy - to do].
I took the risk and exchanged, as vendors solicitor said there would be no problems - then we find out some paperwork had not been done and completion date may not be acheived!!! However the property I am moving into is empty, and the vendors are happy to grant a licence for me to access the property on completion date if exchange and completion cant be done in time.
Your case has been handled badly and I wonder if there is any compensation due to you in view of the fact you have not been informed of the situation, and no way should you have exchanged when your vendors have not found somewhere to move to! I would tackle your solicitor and your EA to demand why noone has communicated with you - what on earth are you paying them good money for??
Good Luck with it all....