Seller Dragging Their Heels

purt

I had an offer accepted on a leasehold flat in early December. At present we've yet to exchange contracts. The seller's solicitor only requested the leasehold information from the management company in the second week of January and only provided my solicitor with the draft contract, lease etc then too.

At the moment we're still awaiting the leasehold information which the vendor says they have still not received from the management company. The vendor's solicitor has also been incredibly slow in responding to queries my solicitor has sent - most of which are very straightforward and asking information which the vendor (who lives in the property) is readily aware of.

I appreciate management companies can be a law onto themselves, but I am suspicious of the vendor's motives. I was assured by the estate agent that the vendor was planning on moving into rented accommodation once they'd sold the flat, but I can't help thinking they're delaying in the hope of finding a new place to buy.

I'm getting increasingly impatient and wondered if anyone had any tips on how to approach this. I've already threatened to withdraw from the purchase which has kicked them into touch a little, but still they drag their heels on things.

My solicitor has completed all the relevant searches and the survey has been completed. We're just awaiting the management information and then we should be good to exchange contracts.

moneyistooshorttomention

The obvious first thing I can see there is that its the estate agent (rather than the vendor) who has told you that the vendor would move into rented accommodation.

Did the vendor tell them this or have they just assumed it? Are you sure that the estate agent didnt take it upon themselves to tell you what you wanted to hear (even though the vendor may not have ever said they would do so)?

Yorkie1

I can understand your frustration, but this is not slow for a flat purchase. It's only about 10 weeks since your offer was accepted and you don't know what else was going on in the seller's life over the Christmas period.

I see no reason yet to suspect the seller's motives.

mothershipton

Im in a similar position but as the seller. In fact till you got the part about the seller moving into rented accomodation I thought it was me !
I wouldnt be too worried as the solicitors will have not done much over the christmas period. Also our management company did take over two weeks to photocopy some docs and then posted them to the solicitor having walked past the solicitors office to do so!

dont panic just yet

Kynthia

When I bought my first flat, even though it was vacant it still took nearly six months. This was partly due to a very difficult freeholder and partly due to the vendor's solicitor being slow.

ognum

It is important for everyone selling leasehold property to get your solicitor to request all the information from the management company and leasehold when you start to market the property, this will save a lot of time when you achieve a sale!

Brallaqueen

flat sales always take longer, there is essentially two other entities involved (freeholder plus fh solicitors) and with the best will in the world this will cause delays.

purt

moneyistooshorttomention wrote: »

The obvious first thing I can see there is that its the estate agent (rather than the vendor) who has told you that the vendor would move into rented accommodation.

Did the vendor tell them this or have they just assumed it? Are you sure that the estate agent didnt take it upon themselves to tell you what you wanted to hear (even though the vendor may not have ever said they would do so)?

Thanks for the helpful replies everyone.

The estate agent said it and I understand they may have told me what they thought I wanted to hear. I take everything estate agents tell me with a pinch of salt.

The vendor has been less than helpful throughout the conveyancing process. A lot of the queries raised have come back with 'don't know' answers and in some cases the vendor has refused to provide some information (thankfully nothing critical, but still unhelpful nonetheless).

As we proceed to exchange of contracts, I just wonder if there's any way of ensuring the vendor completes on a certain date? And if they don't are there any 'penalties' for them refusing to do so. I just fear that, even if we exchange contracts and agree a completion date, there's nothing to stop them reneging on that.

LandyAndy

purt wrote: »

As we proceed to exchange of contracts, I just wonder if there's any way of ensuring the vendor completes on a certain date? And if they don't are there any 'penalties' for them refusing to do so. I just fear that, even if we exchange contracts and agree a completion date, there's nothing to stop them reneging on that.

Once contracts are exchanged both parties are committed to the agreed completion date..

There is a long thread on here about a vendor who withdrew after exchange. It cost them a lot of money IIRC

https://forums.moneysavingexpert.com/discussion/1806123=

koksrob

I am selling my flat. got offer early December and still not exchanged. we are now moving to place we buying, but got sofas to crash on if our sale goes through quicker. So we have been pushing everyone everyday to try and get our sale through as quick as possible. We got management pack, 4 days ago, everything just seems to take forever maybe they dragging, maybe its just as quick as it can go?

Hope it goes well

purt

LandyAndy wrote: »

Once contracts are exchanged both parties are committed to the agreed completion date..

There is a long thread on here about a vendor who withdrew after exchange. It cost them a lot of money IIRC

https://forums.moneysavingexpert.com/discussion/1806123=

Thanks - I'd read that thread before.

I'm less concerned about the buyer pulling out, in the sense that they renege on the transaction. What I am concerned about is that they'll come seeking to move the agreed completion date because they've not found somewhere to move to. Can they do this? Or are they obliged to complete on the agreed day.