Given an ultimatum on purchase

is1983

Little bit of a rant!

Me and my wife are so annoyed at the minute.

We are currently in the process of buying our fist home. Due to me working aboard, we have arranged with our lender a residential mortgage with consent to let.

It has been dragging its heels in at every given opportunity, not on our purchase but our vendors onward purchase (only 3 parties in the chain). Our vendors solicitors are one on a panel for a major high street estate agents, in speaking with others including the EA and vendor lead me to believe that there service is far from good.

Today I'd had enough and after a discussion with my OH we decided to up our ante and set a date of when we would like exchange and a proposed completion date. If this is not met then we will be pulling out of the purchase.

Due to work commitments, we only have a limited time where we can sort out the property for letting.

I have instructed my conveyancing solicitor that we are happy to exchange as soon as possible (they have been in a position to exchange for the last 4 weeks - even holding our deposit).

We do want this property but have decided if its not 'meant to be' then so be it.

Do you think that my actions have been unreasonable? Will it spur the EA to actually do some work and start chasing things?

ValHaller

Anger in these situations leads to acrimony and everyone taking their ball home.

The message to deliver - and you should have been delivering from the outset is along the lines "We need to complete by <date> as we will be leaving the country on <date>. The deal must meet these dates". This leaves you free to nudge along with "our date is drawing near - will you be able to meet it?"

If you go in and just say "Completion by <date> or we are pulling out", you risk alienating your vendors

Excited13

Gosh I've also just posted a similar thing about a chain of free so good luck! Sorry no advice as I'm looking for some myself but I know how frustrating it is.

is1983

ValHaller wrote: »

Anger in these situations leads to acrimony and everyone taking their ball home.

The message to deliver - and you should have been delivering from the outset is along the lines "We need to complete by <date> as we will be leaving the country on <date>. The deal must meet these dates". This leaves you free to nudge along with "our date is drawing near - will you be able to meet it?"

If you go in and just say "Completion by <date> or we are pulling out", you risk alienating your vendors

Thanks for your advice, unfortunately my job is one that doesn't give much notice for upcoming commitments.

If I'd have known it would be practically impossible for me to return except for a period of 2 weeks I may have reconsidered purchasing the place from the offset.

It has just been so annoying. Wen even the estate agents have been whinging to me about the conveyancers, and I've had to point out that they were the ones who recommended the conveyancers to my vendor.

Hindsight is an amazing thing though. I do hope we can complete on this purchase but if it isn't then c'est la vie.

ValHaller

is1983 wrote: »

Thanks for your advice, unfortunately my job is one that doesn't give much notice for upcoming commitments.

If I'd have known it would be practically impossible for me to return except for a period of 2 weeks I may have reconsidered purchasing the place from the offset.

Then, ahem.... , rather than being angry yourselves, perhaps you might reflect on whether your vendors might be angry with you for starting a deal you cannot complete on?

is1983

I'm aware on how our vendors may feel, it was made clear to our vendors from the offset what my job entails and fortunately I have been in contact with them on a few occasions.

They are also disappointed that it has taken so long for this to go through and were hoping to have completed already.

Ideally, I just want the estate agents to start chasing the solicitors to get the job done....surely they want their commission?

ValHaller

is1983 wrote: »

They are also disappointed that it has taken so long for this to go through and were hoping to have completed already.

As FTB you perhaps were not to know - but if it was the conveyancing outfit I am thinking of, I would have pulled out as soon as I knew it was them, with the hope that the vendor would reconsider.

Yorkie1

I presume your sellers are chasing their solicitor too?

What is still outstanding?

is1983

Yorkie1 wrote: »

I presume your sellers are chasing their solicitor too?

What is still outstanding?

I hope they are.

There is only a few things, I think it's just annoyed me as the EA's have expressed their grievances about the conveyancers that they recommended to my vendor.

anselld

You have to consider why the EA made the recommendation (and it won't be anything to do with performance).

It is your job to chase your conveyancer and likewise the vendors job to chase theirs. Do not expect EAs to do anything. Do not expect solicitors to actually talk to each other!

So, find out what exactly is still outstanding. Chase it up if it is your end. Ask the vendors to chase if it is their end or to pass it up the chain.

NBOATER

I hope you are not the buyer at the bottom of my chain. In my chain there is 1st time buyer buying house, this buyer buying next house and my buyer buying my house chain free. 4 of us in all , hold up is my buyer's Conveyancers, we are ready at the top of chain . Have been for weeks. Same abroad issue here my husband goes overseas at very short notice. We are packed and ready for the exchange as are my solicitors, Conveyancers ignoring everyone!