Our vendor is threatening to pull out :(

Skyler

We're days away from exchange and our vendor is threatening that if we don't complete by Friday then they will be pulling out of the deal.

We had a problem with our buyer and after an attempted gazunder our sale fell through. Luckily we had a previous buyer who still wanted to go ahead with the purchase so we switched to them. We had previously been 10 weeks into the sale with them before the sale fell through due to losing a repossession so they had already done the searches, had the funds in place etc.

Their solicitor assured us that the purchase would take a minimum of 2 weeks but a maximum of 3 weeks. Due to them being able to pick up the purchase where we left it. We went back to our vendor and advised them of this and they were happy enough to continue to sell their property to us so everything went ahead.

So we are now 3 weeks down the line and our buyers solicitor is still not ready. We had been due to exchange on Monday and complete this Friday but our buyers solicitor hadn't had time to go through the contract or to look through the additional documentation that we had supplied. She has now done this and forwarded an additional 25 questions to our solicitor yesterday (most of which had been asked previously and answered with documentation sent) she also sent our solicitor an amended contract by fax and advised that she had sent the original by post which should have arrived today but it hasn't.

So our solicitor was meant to be off from yesterday for 2 weeks but because of the additional questions and the amended contract he went in today to try and sort everything out. He has now sent answers to the questions back again and he has aparently answered and signed the last thing that solicitors need to do before completion can take place.

Our buyer has been on the phone today to say that he has contacted his bank as they have not released the funds to his solicitor due to there not being a FENSA certificate for the windows. We have advised him that we have arranged indemnity insurance for this and that it shouldn't have been an issue and his solicitor should have known this.

We are getting phone calls constantly from our seller (vendor) and they are insisting that they have waited long enough and that if we haven't completed by Friday then the sale is off. We have asked if we can exchange and complete on Friday if everything is in place but our solicitor has advised us today that it is looking unlikely that this will happen and the most we could hope for is an exchange on Friday and a completion next Friday.

But by then it will be too late. I'm seriously stressed to bits about this, we have jumped through hoops and bent over backwards to make sure that when his solicitor asked for stuff we had it back to our solicitors within a couple of days or even on the same day.

I swear I'd rather shove pins up my finger nails than ever have to go through this ever again!!

Sorry, rant over :mad:

henpecked1

all hot air, a seller wont pull out and risk losing a deal.

Skyler

I think they are getting the same message from their seller so they are just passing it down the chain. I do understand their anxiety due to what has happened in the past but we physically can not do any more than we already have done.

The shine really is being rubbed off buying our dream home. I'm emotionally and physically drained from all of it and we're just sick of the abusive phone calls we're receiving from our seller.

We're updating them as soon as we know anything or as anything changes but still the threats don't stop. I'm as keen if not keener to get this to completion but it really doesn't help when your a dumping ground for other peoples stress.

I have enough stress of my own!!

ognum

henpecked1 wrote: »

all hot air, a seller wont pull out and risk losing a deal.

I think this is an unwise statement, it depends on the circumstances of the seller, I have done this after a buyer messed me about. Not everyone has to sell or needs to sell/

Hailstorm

henpecked1 wrote: »

all hot air, a seller wont pull out and risk losing a deal.

Mine did. With the talk in the last few months of prices going up they decided their place was worth more and asked for more money. When I refused they pulled out. It wasn't as if they had another buyer because they are still on the market looking for the higher amount.

kazwookie

If they ring you and are abusive, tell them firmly, something like,

I dont like being sworn at / your abusive tone, if you carry on speaking like that to me, I will hang up..............

And do hang up on them, no one should have to take abuse for what ever reason.

Or tell them all phone calls to your solicitor.........

dopester

Just relax. There isn't much point you getting worked up about it.

If the seller does pull-out, you just have to go through with your sale, and you can always move... shock/horror... into rented. Just concentrate on selling your own house.

Then see how the vendor is doing in finding their new perfect buyer. It isn't like transaction levels are booming. Having sold your house you'd be in a position to transact quickly... so you could make them a new lower offer to reflect the hassle you've been put through and market values falling, if you really are committed to buying their house.

A friend of mine has done similar recently. Selling her own house with the house she planned to buy falling through. She has just had an offer accepted on an even better house in a much better area at the same price she'd planned to buy before.

Archlever

Hi,

I can fully understand the stress youre under. We are probably having something simillar happen to us (due to have exchanged contracts earlier this week and complete on friday)...after weeks of pushing the vendors have suddenly gone silent and are not contactable. Their solicitor is refusing to exchange contracts and does not / cannot give a reason why or timeframe when. Needless to say things are very stressed....looks like it may be rented accomadation for us too. Don't really want to do this as we have a little boy but we made a promise to our buyer when the process began (they waited for us to find a property). Just leaves a bad taste in the mouth and little faith in the system.

Hope things work out for you (you don't have to take any more c**p from the vendor).

Thrugelmir

Don't speak directly to the vendors. It is the role of the estate agent to sit in the middle and help progress matters and take the heat.

Skyler

Thank you all for your replies. We have been told by our buyers solicitor that she may be in a position to exchange tomorrow as long as she gets the documentation from our buyers lender. She contacted the lender today who assured her that it was sent out on Wednesday so should have been with her today but as it hasn't arrived it should definitely be there tomorrow.

We contacted the seller to relay the message and although he grumbled a little bit he said there wasn't much anyone could do about it so he's happy to exchange tomorrow and complete early next week.

So watch this space, having been let down so many times I'm not getting too excited about tomorrow but with any luck we'll exchange and then we can all breathe a sigh of relief.

dq99

Oh how I sympathise ... however, I'm in exactly the opposite position and am seriously considering pulling out from a purchase because the solicitors for the people I'm buying from seem to be a complete bunch of idiots. I can only hope your sale/purchase goes through soon as I do my own!