House Sale Dragging on

LadyMC_2

I'm after some help.
We put an offer in on a house 4 months ago and are still waiting to exchange. We moved out of our property two months ago, after selling it and are in rented accomodation. The vendors do not appear to have any urgency to move, even though they are purchasing a house too. The whole process is losing it's appeal to me. The estate agents and solicitors are becoming extremely unhelpful and are not acting quick enough.
Has anyone else been in this situation or have any advice of what we can do?

ValHaller

As you are in rented, you may find you are contracted for 6 months with no get out. So perhaps not such a big issue.

I think you need to be a little more specific that 'not acting quick enough' to get any specific insight.

SuzyZ

LadyMC wrote: »

I'm after some help.
We put an offer in on a house 4 months ago and are still waiting to exchange. We moved out of our property two months ago and are in rented accomodation. The vendors do not appear to have any urgency to move, even though they are purchasing a house too. The whole process is losing it's appeal to me. The estate agents and solicitors are becoming extremely unhelpful and are not acting quick enough.
Has anyone else been in this situation or have any advice of what we can do?

I'd get back in touch with solicitors ASAP. By now you should have at least received a report on the property and sale contract UNLESS there are problems. You can ask your solicitor about any problems. Also, any additional enquiries should have been raised prior and have been answered (this happens before the report and contract). Have you had searches done?

The problem could be to do with the vendors but doubt it, if you were *in* the property and the purchasers wanted to move in that would move things along. I am surprised that the estate agents on both sides aren't acting quicker as they want their commission.

Please tell me you haven't used a conveyancing shop huge solicitors??!! Anyway ring your solicitors and chase the agents.

Oh and how do I know all the above, I'm a legal secretary so work with them in conveyancing (houses).

LadyMC_2

Thanks for responses so far.

We're not in a contract with our rental property. But obviously don't want to be there, as would prefer to be in the house we're buying.

All queries have been answered. We just can't get any further information out if our solicitors. They won't tell us when we can expect to exchange. They are very slow at responding. The problem seems to be with the progress of the people we're buying from and their next property.

I'm very tempted to look at other properties, but as I've been waiting for 4 months, I'm reluctant to start the process again. But, I can not keep waiting. Are we in a position to offer a time frame ultimatum? I know we're in a strong position having no chain ourselves.

Tancred

LadyMC wrote: »

I'm after some help.
We put an offer in on a house 4 months ago and are still waiting to exchange. We moved out of our property two months ago and are in rented accomodation. The vendors do not appear to have any urgency to move, even though they are purchasing a house too. The whole process is losing it's appeal to me. The estate agents and solicitors are becoming extremely unhelpful and are not acting quick enough.
Has anyone else been in this situation or have any advice of what we can do?

The process can take several months - hardly a surprise. The vendors are certainly taking a long time, but when you buy in haste you repent at leisure, so you can hardly blame them for taking their time. Just sit, wait and chill out.

Tancred

ValHaller wrote: »

As you are in rented, you may find you are contracted for 6 months with no get out. So perhaps not such a big issue.

I think you need to be a little more specific that 'not acting quick enough' to get any specific insight.

Most rental contracts have a break clause - often 60 days of notice.

go_cat

I would go to the estate agents it is being sold through and ask to view other properties and say you are looking at some other properties with other estate agents as this one is taking too long to exchange, this may spur them on a bit they will want their commission

SG27

You need to find out exactly what the hold up is. It coukd be the vendors, your solicotor or theres. Our solicitors were slow too it took the days to respond to simple yes or no emails, didn't return phone calls either. I started calling with withheld number and borrowed other peoples phones which helped! We pestered then and pushed for a completion date after 4 months of waiting and chasing and finally exchanged last week. Also the estate agents were very helpful and always happy to chase up the vendors/ solicitors for us.

ValHaller

Tancred wrote: »

Most rental contracts have a break clause - often 60 days of notice.

Not usually within the first 6 months.

DRP

LadyMC wrote: »

I'm after some help.
We put an offer in on a house 4 months ago and are still waiting to exchange. We moved out of our property two months ago, after selling it and are in rented accomodation. The vendors do not appear to have any urgency to move, even though they are purchasing a house too. The whole process is losing it's appeal to me. The estate agents and solicitors are becoming extremely unhelpful and are not acting quick enough.
Has anyone else been in this situation or have any advice of what we can do?

are the vendors definitely 'purchasing' ie. they have had an offer accepted, their own vendors are in a position to move etc?

It sounds like you have a bit of a chain and that is delaying things. I f i were you I would find out exactly how many people are in the chain and what their current situations are. If someone at the end of the chain is yet to sell/find a place you could be waiting another 6 months

ValHaller

LadyMC wrote: »

Thanks for responses so far.

We're not in a contract with our rental property. But obviously don't want to be there, as would prefer to be in the house we're buying.

All queries have been answered. We just can't get any further information out if our solicitors. They won't tell us when we can expect to exchange. They are very slow at responding. The problem seems to be with the progress of the people we're buying from and their next property.

I'm very tempted to look at other properties, but as I've been waiting for 4 months, I'm reluctant to start the process again. But, I can not keep waiting. Are we in a position to offer a time frame ultimatum? I know we're in a strong position having no chain ourselves.

The temptation is to go firing off ultimatums out of desperation when you are not getting answers.

But it is only when you have answers that you have any basis to choose to use an ultimatum to resolve an issue.

The question you need to ask your solicitor and get a clear answer on is whether you as buyer are ready to exchange - and if not, why not. This should point to the vendor as either holding the process up or sitting on exchange. But if it is any default of yours, then issuing ultimatums leaves you with egg on your face.

Once you know what the hold up is, you need to speak to the EA and find out why his vendor is not either exchanging or dealing with whatever. The EA may need time - 48 hours should be enough. Agree the time by which they will answer. If they fail to get back, tell them they have a further 24 hours or you may need to think about ultimatums. ie not a direct ultimatum but an indirect one.

Depending on what else you know if you get nowhere with an indirect ultimatum, it may be time just to pull out.