How long to completion did it take you?

lilyann1

Well what I thought would happen has!!!!

We have had an ongoing saga since March when we got our offer on our house.Our buyers hadn't sold yet, but did within 2 weeks and we found the house we loved straight away and had our offer accepted middle of April.

Our vendors at the time said they would move to their property in Spain so as not to hold up any chain even though they had found somewhere here too.As the process was taking a long time they decided not to do that.

We were all ready to exchange in June and complete July when 2 days before exchange the bottom buyer (our buyers buyer) pulled out.
Our buyers went back on the market and very quickly sold to a FTB,with things going along nicely,nearing exchange again, our vendors found out about a planning application near their proposed new property and decided to pull out of their purchase.

Once again it all got back together ,within days our vendor found a new property and the people that our vendors are buying off said they would move into rented acommodation, but I was sceptical whether they would or not when the time comes?
Phoned the agent who assured me that they would do this as they'd had a long chat about how long the 3 of us at the bottom of the chain had been waiting.

We would move to rented ourselves if we had to, but it seems to be us stuck in the middle that has suffered from both these episodes.I have 3 kids and our vendors and the place they are buying are both couples with kids left home.The 2 below us are a ftb and a young couple with a small child,so i feel that it would be us that suffered most to move to rented as we have the most stuff and the most people to move!!!!

Well we phoned the agent to chase yesterday as our vendor had his offer accepted on 22nd August and has had his survey done.
It now seems that these people are not moving out to rented as they have found somewhere and those people are moving to their house in Somerset.

It seems though after my agent has chased certain EA's and solicitors that no one at the top of the chain has started their searches as the solicitors haven't received draft contracts???? Never heard of this what is draft contracts and why cannot they start the searches yet?

I know our searches took 4 weeks and we have a deadline as I have extended my mortgage offer twice now and the final date for drawdown is 31st OCtober.

Is it possible to get everbody sorted before then???
How on earth do we get people to do things quickly as it seems that some people say they will do it quickly then just don't get their act together????

Is there anything else i can do apart from phone my EA every other day to chase people or should i be telling my solicitor to chase?

I am at my wits end now and just don't know when this saga is going to end.

mjfusent

Sorry, I know from reading this forum that you've had a bad time of it, to answer your fist question ours went like this (4 link chain, we where 3rd from bottom).

Accepted offer on our sale mid-March.

Found and had offer accepted on our purchase mid-Arpil.

Exchange agreed for June 16th for completion two weeks later, bottom of chain pulls out June 15th (we where getting married July 22nd).

New buyer found late June, exchanged while we where on honeymoon 29 July, completed 14th August (despite one link having problems raisong the cash on completion day, another story).

In your case I'm no expert but I can only think of two options

1) Sit tight and ride it out.

2) Tell the people who are slowing it up you're setting a deadline for exchange of, say 1st Oct for completion 31st or you are looking for new buyers/vendors I'm not sure if this is an option for you. The sucess depends on how committed the chain is to staying together, and how comitted you are to your purchase?

One thing we've found is people say they'll go into rented but very often dont.

All I can say is very best of luck!

Mike

mad&jon

Hi Lilyann

I know exactly how you feel. Although our chain wasnt started until beg. June but our exchange/completion dates have moved 4 times.

Our problem is guy at botton of chain. We were orginally told he was a ftb no ties should be all sorted within 6-8 weeks. The rest of chain have rushed to sort all searches/surveys and have been ready to move since end of Aug. But ftb we've now found out is a property investor who is now holding everyone to ransom.

Even though we were told he'd paid and done searches 25th Aug. We find out today (7th Sept) that he hasnt paid for searches and has told his solicitor not to proceed with anything until the rest of the chain agree to his dates for exchange and completion! Even then is he going to go ahead with it or is he going to come up with another demand?

ARGHHHHHH! Its so upseting, but what can you do?

I hope it all works out well for you lilyann fingers crossed!

JennyW_2

well I thought we were in the best type of chain you could ever have. We had a FTB for our property (offer accepted Feb) and we were purchasing an empty property from my in-laws but it still took 5 long months :huh: . We should've completed in June but it didn't happen until August. There was never ever a problem with anyone pulling out, it was just a slow solicitor behind us and raising queries very late in the stage. However we got there in the end.

As said previously, you really only have 2 options - hang on in there or get tough and set some deadlines.

Julysea

I've been pondering this myself. Having been under offer for 8 weeks before we found a house to buy, the people at the top of our relatively short chain have already moved out of their house, leaving vacant possession for our vendor and want to get on in a hurry, our buyers are also wanting to crack on with things ahving already waited 8 weeks and they are buy-to-let cash buyers so I thought no problem, should get everything sorted really quickly, and yet, here we are 2 weeks after agreeing we all wanted to move along swiftly and it seems that no !!!!!! has done anything, no surveys booked let alone done, no searches done, god knows what is happenign with our mortgage application and the solicitor is suddenly not phoning back. ARGH! Why???? There is no need for it all to take this long!!!!!!!

abbecer

We had a nightmare like yourself and it took 10 months!!! Hang on in there.

Rebecca x

MegS

The first time we were in within 3 weeks, vacant house and we were FTB. Second time 8 months, we had 1 buyer couldn't get a buyer on his problem flat, one buyer who wanted exchange and completion within 6 weeks then when our seller pulled out - after 5 months got edgy and wanted it done there and then (he was on a go slow before as he wanted it towards the end of the Uni term so it didn't disrupt his daughter) 6 weeks later when our buyer was pushing it decided he couldn't go through with the stress of moving - our buyers decided to take their time, it was a BTL. Eventually got the house I really wanted just down the road from the first house, it was up for £220k but because the sellers found the house they really wanted and needed to buy it quickly they accepted £205k so I was a very happy bunny in the end. It then took another 2 months to finalise. You'd think I'd be used to it being as I am a conveyancing secretary. Never again, next time we move it will be to Canada. Hang in there if its what you really want, you'll get there in the end.