Exchange date delays

Abu-Dina · 17 June 2013 at 2:17PM

Greetings!

Hoping to get some advice regarding our situation.

1) First Time Buyers.

2) Mortgage Application successful.

3) Deposit and solicitor fees transferred to solicitor.

When we originally agreed to buy the property we were told that the propertyis tenanted by a family friend who's able to vacate the property at shortnotice. We do not have this in writing but this is what we were told. Westarted the conveyancing process on the 13th May so we're already 5 weeks intothe process however, we just received an email from our solicitor to say thatthe tenant will leave the property on the 14th July so we can complete the weekafter! So this won't be over until towards the end of July!

We're currently renting so this means extending the contract for anothermonth = £1000 in rent again!

My partner says we should push to reduce the value by £1000 but I'm not sosure as I don't want us to lose the house now that we are so close tocompleting.

Any suggestions?

Conrad · 17 June 2013 at 2:27PM

I personally wouldn't chance a small reduction on a house that ticks all the boxes.

As I say probably everyday to someone, there are no timescales when buying property as it is a HUMAN ENDEAVOUR, thus not predictable and I'm afraid prone to change.

I just bought a buy to let flat - 4 months and there was no chain involved.

Your 10 week process is pretty good actually! To expect or plan for less than this is a bit of a reach - I say this as someone in the game for 20 years (cue a comment claiming they did it all in 4 weeks - yup that does happen occasionally)

Abu-Dina · 17 June 2013 at 2:51PM

Thanks for the reply. Much appreciated. My partner is totally devestated as she was hoping to get the house before the end of th month but I did explain that these things can take time and as I you said, we're still within the "normal" timeframe for buying.