Nearly three months now, still not exchanged!

Dilly446

The buyer viewed our property on 4th June and said they wanted to buy on that day. Since then the estate agents, and the buyers solicitors are taking ages and we have still not exchanged. I'm not buying anywhere else and there is no chain. The estate agents selling contract was for 12 weeks which will run out this thursday 11th August. Should I take it off the market, this is getting beyond a joke! What should I reasonably expect, how long should these things take.

satchmeister

Dilly446 wrote: »

The buyer viewed our property on 4th June and said they wanted to buy on that day. Since then the estate agents, and the buyers solicitors are taking ages and we have still not exchanged. I'm not buying anywhere else and there is no chain. The estate agents selling contract was for 12 weeks which will run out this thursday 11th August. Should I take it off the market, this is getting beyond a joke! What should I reasonably expect, how long should these things take.

Have they sold their property?

If your sale is not complicated both parties should be ready to exchange in a few weeks.

Dilly446

Thanks for your reply. It's a Mother and Grandmother buying for their son so they're not selling anywhere.

sonastin

There are any number of reasons why things could take a while - the local search in your area could take ages to come back, your solicitor might be really slow in answering their questions, his answers might have prompted more questions, etc etc. I take it you've given your solicitor all your paperwork? Fixtures and fittings forms, property questionnaire, any service details, guarantees, etc for any work you've had done? That's the sort of stuff that buyers' solicitors tend to ask for and it speeds things up if your solicitor already has them.

What is the point of taking it off the market? Don't you want to sell any more? If you want to stay put, let your buyer know that you're pulling out ASAP. Otherwise, be patient - it probably won't be much longer, but your solicitor should be able to tell you what he's sent to the buyer's sol and if he knows what else they are waiting for...

tyler80

Our offer was accepted at the end of May but we only exchanged last week even though it wasn't a complicated sale - we're first time buyers and there was no chain. It only takes one or two little issues to stall the whole process.

Dilly446

He has everything he needs and we've filled in and signed all the relevant forms. Our solicitor already has a file from when we bought it in 2004. Would it be cheeky if I phoned the buyers solicitors to see what the hold-up is?

sonastin

The buyers solicitor won't tell you. Ask your solicitor to find out for you. Its like a game of chinese whispers and if you try to jump the chain, you'll just create bad feeling and more problems.

Dilly446

Yep, you're probably right. I'll try mine again tomorrow and see what happens, will keep you posted. I just want it sorted out and sold so I can get on with my life................................ thanks

G_M

There is a reason why it is taking so long.

It might be finance. Getting savings released, mortgage approved.
It might be legal. Getting searches back, some discrepancy sorted out.
It might be personal. relaltionship upheaval interfering with the dcision.
It might be structural. Survey issue.
It might be....

Until you knwo what it is hard to decide what to do.

So find out. Ask your solicitor, your agent, or call the buyers direct. But yes, the buyer's solicitor won't speak to you - professional etiquette. You have to go via your solicitor.

flora48

I got a buyer on 6th June last, exchanged on 5th November and completed 14th December, it was a nightmare. All this when the EA was pressing for a 28 day completion.!!

As others have said, ring your solictor, I also found my EA was good at ringing round but I found out far more by speaking to my buyer, probably not to be recommended, she saved me a fortune by tipping me off about a delay the day before my removal into storage was due to take place. I managed to cancel 10 mins before close of business. Thank goodness I paid the cancellation waiver.

hazyjo

Feel free to chase the solicitors. And once you know what it is they're waiting for, ask what's being done about it. You can always let the EA know too who you're buying through as they're often in the dark.

The average sale still takes around 3 months start to finish. Obviously an average means some might take a month, others will take 5.

We completed on 31 March after 5 horrendously long months due to delays and a couple of major problems. Our buyer had initially wanted to exchange within 3 weeks...

Keep on top of it, chase when necessary, but don't lose heart. These things take forever. If you have a short, complete chain, you're lucky. You have no idea what you'll end up with if you start again. So many collapse - we lost one before getting the house we're in now. You hear about it so much on here.

Good luck.

Jx