Vendor To Withdraw **So Close**

billybear1

Hi,

I am currently waiting on a mortgage to go through with GE, they received the documentation on the 2nd and looked at it again yesterday and asked for a couple of bits we have provided and sent down to them to arrive before one, which they have.

I rang my solicitor to find out the repossesion company have stated if they have not received exchange of contracts by tomorrow that they will withdraw from the sale. My solicitor has said sometimes they will let you keep the contracts and carry on, but sometimes they will ask for them back. If that happens and they do not find a buyer but we get everything in place by then, we can ask for the contracts back to exhcange or will they wipe their hands of us?

So stressful, I thought we were home and dry.,...

liubeliu

I would have thought in the absence of another proceedable buyer, they will allow you to exchange when you in a position to do so. However, it is usual for EA to continue to market repos until exchange has occurred.

The_J

Unfortunately this is typical of repossession companies, you can only do what you can. I would explain the situation and that getting a mortgage sorted within 28 days is not always realistic.

billybear1

I am hoping this, it seems crazy really. No one else is going to come in and be able to exchange in a week. We definately will be able to, maybe even complete in that time.

It is driving me mad, just wondering if anyone has any experience of the vendor (repo co) saying no, that's it, even if you could we won't let you.

Thanks for your replies!