Slow to exchange and completion.

lilyann1

We are in chain of 4 people.One below us buying ours is all set and we are all set to go.The house we're buying he is just filing out last enquiries,but the ones at the top have only just started with their solicitors and are moving abroad so want 4 weeks in between exchange and completion.
They seem to be dawdling on getting their solicitors sorted and we know our vendors had their offer accepted on it the same time as we put offer in on the one we're buying.
Is there anything we can do to make them hurry up and get to exchange as we really want to be in before all the children break up for school in the summer!!!

Doozergirl

Have the people at the top given a potential moving date yet? If not, that's what I'd be asking your vendor to agree with them. If they're not commiting to one, I'd be a bit worried; I'm always wary of the non-commital as it is often as sign of (surprise, surprise!) not being very commited! Generally, when you sell a house you're eager to move as soon as you can, otherwise you've got a definate date that you need to move by.

There's not that much you can do otherwise when it's not your sale/purchase. You can put pressure on your vendor by threatening to look elsewhere for a property but if his vendors are simply stalling for time while they look for somewhere to live and work out their notice at work etc, even your vendor mightn't have much sway with them.

It's his solicitor that does most of the work on his purchase with searches etc. and his mortgage company that you need to wait for. His vendor's solicitor needs to draw up contracts and answer your vendor's queries; thankfully it's not so labour intensive and a little more reactive than proactive.

Debt_Free_Chick

lilyann1 wrote:

Is there anything we can do to make them hurry up and get to exchange as we really want to be in before all the children break up for school in the summer!!!

This type of question crops up a number of times and the simple answer is "no". It will take "as long as it takes". In my experience, no buyer or seller deliberately dawdles. We all want to get on, move out and move in to our new place. If there's a delay, then there's usually a good reason and no end of pushing, shoving, cajoling or threatening actually achieves anything - it doesn't deal with the cause of the delay.

You say you "want" to be in before the kids break up from school but ..... honestly ... is it really the end of the world if you're not?

Would you really pull out if they couldn't complete until the end of July? If so, then pull out now ..... but you won't find anyone else who can complete any quicker - assuming you find another suitable property in the next week or two.

Seriously ... you have a choice. Either you want this property .... or you want any other property that has vacant possession and can complete by the time the school holiday begins Your choice

tazgirl

Debt_Free_Chick - any chance I can get you to call the estate agent for the people we're buying from and repeat that first paragraph to them very loudly and slowly??!! Particularly the bit about threatening...

Seriously, OP, I'm in the same situation but the other way round - chain of 4 but it's our buyers who're dawdling and asking for a long time between exchange/completion - it's stressful, but ultimately there's nothing you can do about it. As long as you keep reassuring your buyers that things are happening though! I would however, try and pin them down to some idea of timescale, or at least make sure they're aware that everyone else in the chain is pretty much ready...

I think you just have to take a deep breath and think that 'if it's meant to be...'

lilyann1

Thanks guys.Its not the end of the world and yes we do just have to wait.Things are moving ,as all EA and sol's have confirmed all people are doing all the things they should be.