Advice Needed!!! Waiting to exchange contracts for 3 months now

fonzyg50

hello all

we have been ready and waiting now for 3 months to exchange, we r in a chain of 4 and we are all ready apart from the bottom chain

ACCEPTED OFFER 07/2012

there seems to be a lot of excuses for them as the following

1. cheque bounced for local search it took him 3 weeks

2. mortgage offer sent to wrong solicitors took him another 3 weeks to sort out

3. mortgage paperwork to be sent back to solicitor took 3 weeks

4. just found out someone is gifting him money towards the purchase, so the lender will need to know this- ongoing

5. and now waiting for him to send back signed witness statement as he didn't have this signed( soliciors returned paperwork back)-ongoing

im not sure what to do. we are all stressed as we really need to move before xmas as we got 3 young children in a 1 bed house

Grimbal

As I said in my reply in your other thread (https://forums.moneysavingexpert.com/discussion/4197719), what position is the rest of the chain in? It sounds like you're nearly there & just need to put a bit of pressure on your FTB to return the paperwork promptly. His mortgage offer must be running out soon I'd imagine - could your buyers' EAs remind him that he needs to get a move on because of this?

ETA, and I do apologise about this as it's a pet hate of mine (so my issue rather than yours), but you didn't sell your house in July, you just accepted an offer on it

fonzyg50

Grimbal wrote: »

As I said in my reply in your other thread (https://forums.moneysavingexpert.com/discussion/4197719), what position is the rest of the chain in? It sounds like you're nearly there & just need to put a bit of pressure on your FTB to return the paperwork promptly. His mortgage offer must be running out soon I'd imagine - could your buyers' EAs remind him that he needs to get a move on because of this?

ETA, and I do apologise about this as it's a pet hate of mine (so my issue rather than yours), but you didn't sell your house in July, you just accepted an offer on it

thats ok lol.

my mortgage offer expires feb 2013, so I'm sure theirs are the same

ITtim

Are you in my chain? :-) We're waiting after accepting an offer in July. Keep trying to chase people and getting no where with it. I guess it will just all suddenly happen.

Fire_Fox

There is little you can do but practice stress management techniques and be sure the whole family is getting at least the government recommended level of physical activity/ exercise every day. Unfortunately sales/ purchases can take many months.

fonzyg50

Now the top chain has given a deadline to complete next week or his putting the house back in the market.

I spoke to my buyers and there estate agents and told them
This but they said they cant get hold of the bottom chain for the last

thelem

Sounds pretty reasonable considering how long he's been waiting. It might be a tactic to hurry things along with the existing, but even if he goes through with it I wouldn't be too worried just yet as he'll struggle to find a buyer over Christmas. Remember, putting the house on the market is not the same as accepting another offer.

How is your trust in the bottom of the chain? Should you be thinking about putting your house back on the market?

thelem

Oh, when you say deadline to complete, I assume you mean deadline to exchange? Good luck getting a four party chain going to complete within a week of a deadline being issued!

fonzyg50

thelem wrote: »

Sounds pretty reasonable considering how long he's been waiting. It might be a tactic to hurry things along with the existing, but even if he goes through with it I wouldn't be too worried just yet as he'll struggle to find a buyer over Christmas. Remember, putting the house on the market is not the same as accepting another offer.

How is your trust in the bottom of the chain? Should you be thinking about putting your house back on the market?

Im losing faith of the bottom chain but the buyers buying our house dont want to lose ours, so I told them that my top chain are pulling out next week. Ive got 3 young children aged 2months -7yrs old I'm so stressed and I don't need this as I'm trying to recover from a cesarean.

They can't get hold of the bottom chain for the lastv3 weeks. He needs to return his mortgage witness paperwork, deposits and proof of transfer deposit from his mother.

fonzyg50

thelem wrote: »

Oh, when you say deadline to complete, I assume you mean deadline to exchange? Good luck getting a four party chain going to complete within a week of a deadline being issued!

Solicitor said to me latest to exchange is Wednesday next week. Lol

thelem

fonzyg50 wrote: »

Im losing faith of the bottom chain but the buyers buying our house dont want to lose ours, so I told them that my top chain are pulling out next week. Ive got 3 young children aged 2months -7yrs old I'm so stressed and I don't need this as I'm trying to recover from a cesarean.

They can't get hold of the bottom chain for the lastv3 weeks. He needs to return his mortgage witness paperwork, deposits and proof of transfer deposit from his mother.

I see it's taken so long you've literally had a baby!

3 weeks is a very long time for it to be waiting on the buyer, if it really has been waiting on them all that time. Are they waiting for something else to happen, such as an inheritance to come through?