Getting soooo frustrated

delmar39

Accepted an offer on our place early Dec 09. Buyer said they'd just accepted an offer from a cash buyer. We accepted and took it off the market. Turns out that our buyers buyer had to get a mortgage, so not a cash buyer. We were heading for a 26th Feb completion, but buyers buyer had to revise their mortgage offer, so more delays. There's been talk of exchange "anytime now," but we cannot get confirmation from our buyers buyer solicitor. We're heading for a completion date of 12th March, but again, no one can confirm for sure. Our EA was on the case yesterday and is going to get back onto it today. As things stand I feel like calling their bluff and putting our place back on the market. I don't know why our buyers solicitor cannot fix a date or at the very least establish what the problem is. Anyone had these stresses before?

seabright

This is the "joy" of chains. The problem is your buyer's buyer, so two below you. Your solicitor will be relying on someone else to get information and pass it on, so it just ends up chinese whispers.

Make your EA work for their money - they are the only ones that can talk to everyone in the chain (solicitors aren't allowed to talk to clients of other solicitors), so get them to get on the phone and find out the problem. Also, if you have a date in mind, get them to put the date to everyone else - you want to know ASAP if it doesn't suit someone

delmar39

seabright wrote: »

This is the "joy" of chains. The problem is your buyer's buyer, so two below you. Your solicitor will be relying on someone else to get information and pass it on, so it just ends up chinese whispers.

Make your EA work for their money - they are the only ones that can talk to everyone in the chain (solicitors aren't allowed to talk to clients of other solicitors), so get them to get on the phone and find out the problem. Also, if you have a date in mind, get them to put the date to everyone else - you want to know ASAP if it doesn't suit someone

Thanks for this. Our EA is due to call sometime today with an update. We have made it clear that we want a definate answer by the close of play today. It's difficult because one cannot do anything other than chase up. Threats don't work esp when contracts haven't been exchanged. We'll just have to sit tight and see what happens.

Cannon_Fodder

I hope this; http://forums.moneysavingexpert.com/showthread.html?t=2287515 isn't the person below you in the chain...

Maybe seeing comments from that perspective will help understand the stress for everyone.

delmar39

Thanks Cannon Fodder. Some relevant and interesting stuff on the link you sent through. Having read it it's nothing to do with our sale / purchase, but obviously similar issues. I phoned our EA after I posted this thread and they were waiting on some calls back - a new hold up is that our buyers buyer is awaiting a deposit of some description, but everytime I ring, there's something else holding things up. I told the EA that we want a firm yes or no to both exchange and completion today otherwise our house will go back on the market from Friday "just in case." I'm hoping that this will stimulate people as this isn't an idle threat. At the end of the day we could be lucky, get another quick offer and be done in the same time as this could take (we go off on hols for two weeks soon, so unless we exchange before we go we're looking at mid April now. We're also considering going to builder of our new house and asking them to buy it off us. Anyway, this may all turn out to be irrelevant if we exchange soon, but just looking at plan b and c at the moment. I'm also considering inviting our buyer round this weekend to 'measure up' so we can sound them out about things. All the best.

Milliewilly

delmar39 wrote: »

Accepted an offer on our place early Dec 09. Buyer said they'd just accepted an offer from a cash buyer. We accepted and took it off the market. Turns out that our buyers buyer had to get a mortgage, so not a cash buyer. We were heading for a 26th Feb completion, but buyers buyer had to revise their mortgage offer, so more delays. There's been talk of exchange "anytime now," but we cannot get confirmation from our buyers buyer solicitor. We're heading for a completion date of 12th March, but again, no one can confirm for sure. Our EA was on the case yesterday and is going to get back onto it today. As things stand I feel like calling their bluff and putting our place back on the market. I don't know why our buyers solicitor cannot fix a date or at the very least establish what the problem is. Anyone had these stresses before?

Unfortunately some people thing becasue they need a mortgage this gives them 'cash' and makes them a cash buyer. The EA should have clarified proof of funds. Did you take a reduced price for quick completion?