Wanting sale to complete so I can ove on with life

cymro77

Hi all. I acceoted an offer just over 2 weeks ago on my small house from local middle aged couple who say they are buying the house for their daughter. The mortgage survey was done within a week and they went to apply for remortgage within a week also. I found a lovely flat in my preferred location which I want to rent and as im scared of losing it have today paid to reserve it for a month. Was this a wise move and assuming the solicitors are good on both sides will the contracts be exchanged soon and are there any potential problems I should be aware of regarding my sale as it seems so cloak and dagger as the solicitors do everything so dont know exactly whats going on at any particular time?

Our solicitors said it could be done within 4 weeks of formal acceptance of offer so should I be expecting a letter soon requesting a preferred completion date soon?


Many thanks.

PasturesNew

You shouldn't pay to reserve a rental until you've exchanged contracts really. There's a lot that could go wrong still - and it'll take probably 3-4 months to complete even if there are just a couple of small queries and hiccups in the process.

Things CAN go quickly, but more often they don't.

Fire_Fox

You won't complete within anything like four weeks unless you are both chain-free, nobody needs a mortgage, both equally keen to move quickly, communicate directly with one another, and both chase your solicitors a couple of times a week.

cymro77

Thanks all there is no chan as im going to rent as had problems and want stress free life for few years. The buyers live on the next street but dont know if I should go and see them as dont want to put pressure and scare them off. Should I contact the solicitors in a week if no update received though they say in their paperwork not to call and slow process down.

G_M

they say in their paperwork not to call and slow process down.

!!!!!!!!!!!!!?????????????/
You are paying them ! You have every right to calll, ask any questions you like, query their (in)actions.
I'd be very wary of a solicitor who put this in their paperwork!!

Do you have a phone number for the buyers? Give them a friendly ring, have a chat, ask what timescales they have in mind. If they seem reluctant to speak to you, well, leave well alone. But most people are equally concerned to keep things moving. If you reach agreement on timescales you can each speak to your solicitors and instruct then to work to those date.

Fire_Fox

cymro77 wrote: »

Thanks all there is no chan as im going to rent as had problems and want stress free life for few years. The buyers live on the next street but dont know if I should go and see them as dont want to put pressure and scare them off. Should I contact the solicitors in a week if no update received though they say in their paperwork not to call and slow process down.

Pop a note through the buyers door, with your phone number and inviting them to contact directly you at any stage to ensure a swift completion. Try e-mailing the solicitor on at least a weekly basis to ask what progress has been made, and if there is anything you can do to chivvy up the other side. You need to be explicit with all parties (estate agent, purchaser, solicitor) what your timescale is.

cymro77

Thanks all, as the buyers live on next street I popped round and spoke to buyer and she was very warm and friendly and said as far as they are concerned all is fine their end (surveys etc) and going along nicely and they wont hold anything up and will accept basically any timescale we want once the contracts are completed and ready for exchange. Thanks all I ntook the advice and now can sleep a lot easier as I know things are going well and our buyers aren't timewasters.

Fingers crossed all done in next month or so and I can move on with my life.

Many thanks again.

Richard_Webster

Thanks all, as the buyers live on next street I popped round and spoke to buyer and she was very warm and friendly and said as far as they are concerned all is fine their end (surveys etc) and going along nicely and they wont hold anything up and will accept basically any timescale we want once the contracts are completed and ready for exchange. Thanks all I ntook the advice and now can sleep a lot easier as I know things are going well and our buyers aren't timewasters.

Have they got a mortgage offer yet?

Has their solicitor asked any further questions he wants to ask of your solicitors and have you provided your solicitor with the answers?

Trouble is that asking the buyers doesn't always provide the answer because they make assumptions about how the process is going which may not be correct. Have they asked their solicitors how things are going?

cymro77

Hi ran into man last night whos buying house and he says the moneys there sa far as hes concerned. we had call today from solicitors asking who has responsibility for the fences etc which well put in writing with the official docs through the sols letterbox tonight. Whats left to do then and should I keep on our solicitors in the next week or so regarding arranging an exchange date etc?