Vendors faffing about on exchange/completion date -advice please

jojo2004

Hi All,

OH and I are buying (FTBs) at the moment. Offer was accepted Aug 28 this year. We had survey done asap, all fine. Legals on our side have been complete for a month. Funds are ready, mortgage offer all signed and ready.

Vendors started off by asking in rather heated terms that we be ready for completion at end Nov. We agreed (we'd said all along we could be ready as soon as possible).

Next thing was an email from EA saying vendors aren't going to be ready for this date - searches on place they are buying not complete.

We are understanding of this, but have since asked three times for a date to be set for exchange - no reply/deflection. Eventually we had the solicitors write to vendors solicitors asking that this date be set and suggesting dates.

Vendors response is "we don't know if we can make this date, should we be re-marketing the house"!
They have made a huge furore over their four kids, their need to book time off work to move etc - we get this, but we want notice of when exchange and completion will be! We also need to book time off work and give notice on our rental flat. They seem to have been driving (or braking!) the pace all along, and we're getting very unhappy at the incessant faffing. We just want to know WHEN they WILL be ready, not 'oh, not quite yet, just a bit longer'. Is this unrealistic? We want to make Christmas plans and can't do so until we know where we will be living!

Any suggestions?

ash28

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jojo2004 wrote: »

Hi All,

OH and I are buying (FTBs) at the moment. Offer was accepted Aug 28 this year. We had survey done asap, all fine. Legals on our side have been complete for a month. Funds are ready, mortgage offer all signed and ready.

Vendors started off by asking in rather heated terms that we be ready for completion at end Nov. We agreed (we'd said all along we could be ready as soon as possible).

Next thing was an email from EA saying vendors aren't going to be ready for this date - searches on place they are buying not complete.

We are understanding of this, but have since asked three times for a date to be set for exchange - no reply/deflection. Eventually we had the solicitors write to vendors solicitors asking that this date be set and suggesting dates.

Vendors response is "we don't know if we can make this date, should we be re-marketing the house"!
They have made a huge furore over their four kids, their need to book time off work to move etc - we get this, but we want notice of when exchange and completion will be! We also need to book time off work and give notice on our rental flat. They seem to have been driving (or braking!) the pace all along, and we're getting very unhappy at the incessant faffing. We just want to know WHEN they WILL be ready, not 'oh, not quite yet, just a bit longer'. Is this unrealistic? We want to make Christmas plans and can't do so until we know where we will be living!

Any suggestions?

Our buyers were like your vendors - they had a completion date in mind and were pushing all of the time - daily calls to the EA etc.

In the end they held up the exchange - it was a "will we? won't we?" for the best part of 3 weeks.

Their buyers were first time buyers and were just as impatient as you are and were also on the phone to EA almost daily. It was a brother and sister and their mother told them that this was normal and they would just have to be patient.

Our poor removal company had the dates changed 3 times and then when our buyers were ready to exchange on a Wednesday and wanted a completion date on the Friday - we had to say no because the removal company couldn't do it. We completed the following Friday.

It's bit like being in a state of limbo and it is really frustrating but there isn't really a lot you can do - other than go with the flow.

It will be when it will be.

And don't give notice on your place until you have exchanged as nothing is set in concrete until then.

Essex22011

When is your mortgage offer due to expire? Maybe you could use this to push them along a bit. We were due to exchange on a property back in August, we are first time buyers and the vendors were constantly messing us around and then eventually pulled out.:mad:

Mr_Moo_2

You can play the high stakes games and insist on exchange and completion by a set date or you pull out. Trouble is the vendors may then do exactly that. So only go down that route if you're willing to see it through. Get your solicitor on the case and get them to pin down exactly what is causing the delay from the vendors conveyancer - armed with knowledge you can make decisions. Hopefully. Good luck.

happycamel_2

We had this situation. The house we were buying hadn't previously been mortgaged and our mortgage company needed all sorts of paperwork and environmental certificates etc which the vendor didn't have because they'd bought off plan, for cash, 15 yrs before.

Our FTB had stuff done quickly, we had all the paperwork she needed, had only owned the house a few years etc but she had to wait until our purchase was lined up. It isn't always possible to say, our council could respond to a query in 2 days or 2 months. At one point the environmental guy went on leave for 2 weeks and apparently no one else could help.

It's immensely frustrating but they probably didn't envisage that they'd have problems with their purchase (we didn't) and they have no way of knowing how long stuff will take to come back or whether the mortgage company will come up with more queries. Setting a date is unrealistic if they just don't know when everything will be ready.

clarabelle41

It's possible that something has happened with their ongoing purchase ie they lost it, so are continuing to view properties but haven't told you incase you pull out. I would go into their EA and chat face to face about what is happening. If your own EA is good then get them on the case too. Our's is very helpful with twice weekly calls to all parties to get updates.

GDB2222

I really don't understand why vendors take their house off the market and buyers stop looking for protracted periods. In your position, I'd be looking at other properties right up to exchange. If you find somewhere better, you'd have to consider changing horses, particularly with the delays with your vendors. If your vendors know you are looking, it will focus their minds considerably.

jojo2004

ash28 wrote: »

a


It's bit like being in a state of limbo and it is really frustrating but there isn't really a lot you can do - other than go with the flow.
.

So true! Thank you ash28 - that's really reassuring to know we're not alone! I can see why people say housebuying is one of the three most stressful experiences in life!

jojo2004

Just wanted to say thank you everyone who's replied - the 'we're in the same boat/have been there' stories are immensely reassuring and calming, and I really appreciate the solidarity and advice!
:beer: