Why does it all take so long??!

shar46y

Selling

Last week our solicitor thought we could be exchanging this week, after what feels like weeks of delays. Well, it is now Thursday lunchtime and there has been no news. It is the same story as always - somebody hasn't heard from somebody else with some piece of information or paper, somewhere in the system. Is it the buyer/ the buyer's solicitor/ the mortgage provider/ the freeholder/ the freeholder's solicitor/ the agent/ the surveyor/ my solicitor/ Captain Kirk of The Enterprise? Who knows? The buck goes round and round.:mad:

We have a short-term rental place lined up and I can't confirm it until we have exchanged, at this rate we are going to lose it and then where are we going to live??

Buying

At the moment we won't be able to buy the house since we haven't technically sold yet. And anyway there is still no decision on our mortgage, after they have lost pieces of information, written to ask for them again (why can't these people use the phone?) and we have been phoning for an update every few days.

Specialist damp and timber survey still not sorted, although this is OH's fault because he keeps forgetting to phone the agent and the surveyor, then gets annoyed ("you don't trust me to get stuff done!") when I offer to do it.

Is it always like this????:eek:

evoke

The answer is 'yes'. LOL.

kford224

It does seem to, even when you think it is going to be quick!!

There is always someone holding everything up, be it the mortgage company, solicitor...etc. It is horrible having to wait around all the time

Alybea

It's because no one actually speaks directly to the person involved.... it's chinese whispers.
Buyer needs to ask Vendor something. Buyer asks solicitor, solictor asks other solicitor, other solicitor phones vendor, vendor doesn't answer phone as they're at work... vendor phones back gets asked question - has to find answer when they're at home. Vendor goes home finds answer... can't phone back because it's 7pm... phones back the following morning... everything has to go back through the chain of people.

ARRRGH!

grimsalve

Alybea wrote: »

It's because no one actually speaks directly to the person involved.... it's chinese whispers.
Buyer needs to ask Vendor something. Buyer asks solicitor, solictor asks other solicitor, other solicitor phones vendor, vendor doesn't answer phone as they're at work... vendor phones back gets asked question - has to find answer when they're at home. Vendor goes home finds answer... can't phone back because it's 7pm... phones back the following morning... everything has to go back through the chain of people.

ARRRGH!

or even worse, it's all done by post... then there's a postal strike.... then the letter gets added to the wrong file... then your solicitor decides to go on holiday.... drives you up the wall.

hazyjo

We were told our buyer wanted to exchange within 3 weeks from offer. Due to numerous problems, we're now in month 5 (or is it 6? I'm starting talking in months now rather than weeks!). It's a nightmare. We thought we'd be in at Christmas at the latest (wondering which Christmas now). We lost a house just before this so have been 'moving' for the best part of a year. And hubby's flat took a year to sell before and during all this. We're signing today and hoping to exchange within a week or so, and complete probably a week or so after that. Jeez... I don't envy anyone buying/selling. This has been my worst, by far...

Good luck with yours!

Jx

quantic

I have come to the conclusion that solicitors are mostly lazy, banks are mostly hopeless and estate agents mostly have extremely small brains. Add all of them together and it takes them a while to sort out things.

kford224

quantic wrote: »

I have come to the conclusion that solicitors are mostly lazy, banks are mostly hopeless and estate agents mostly have extremely small brains. Add all of them together and it takes them a while to sort out things.

A great summing up!! :rotfl:

geoffky

i never have and never will get involved with a chain..far too many things to go wrong...i do not envy you at all.

80schild

We have had an absolute nightmare. Back in September agreed to sell ours for 75%of MV for a fast sale as we were told our vendor needed someone who could complete fast.
Vendor then takes 4 weeks to return each piece of paperwork that she is asked for. We get to the end of Feburary-our solicitor finally has everything she is happy with for us to exchange and low and behold no one can get hold of our buyer! It seems he has disapeared.
We now have a new buyer who is paying cash and wants to complete asap but even his solicitor has said he doesn't want to rush into exchange as he wants to check everything fully. On a cash sale for now about 65% of MV aaaargh

sonastin

In the week I put the offer in on the house I want to buy, I was told the company I work for was going up for sale. At work we've been through a full due diligence exercise with several buyers, a bidding process, negotiations with preferred bidder, signing of the contract, completion of the aqusition, integration of the business and now we're on our way out of the "will I have a job at the end of it" panic. And I still haven't got to exchange on the house purchase!

quantic got it spot on. add in vendors who are banks and their asset managers who are essentially estate agents and the chance of getting to the finish line dimishes further!