Im ready to exchange but the vedor isnt.

Newly_retired

We had to wait 5 weeks after the original agreed date for everyone in the chain to get the same date for exchange, but still with the original completion date. It has left us with only a week to completion, which is a rush to get things in place now.
There was nothing we could do about it except wait. Not easy, but you will get there. Threats are useless and upsetting. Be patient.

FTB129

DRP wrote: »

because our own purchase is taking a little longer than expected, our first-time buyer's have asked us to exchange next week, with a long completion date (December). They want to do this so they have the security of knowing they have the house.

When our sellers sort themselves out (hopefully in the next week or so), we will exchange with them and then the plan is to renegotiate the dates between the 3 parties for a much sooner completion date.

We are willing to do this because:
a) we have got a decent price for our place.
b) we have somewhere to move to if things go t*ts up with our sellers.

OP, If your seller has nowhere to go there seems little point in applying too much pressure. No harm in inquiring though...

Oh ok, so we could possibly do the same. Likewise we're in no real rush just want the security.
I will propose this to my solicitor if I haven't had an update in the next week.
Thank you

FTB129

hazyjo wrote: »

As above - please don't! It's stressful enough. They'll be pulling their hair out keen to move too. Once someone starts threatening to pull out, or force them to be homeless, it can tip some over the edge! Let it take as long as it needs to. Average is 12 weeks. Where are you in that timescale?

It's unlikely everyone will be ready on the same day. They're probably not far behind you so just try to be patient.

If they're having any doubts, you pushing is far more likely to make them pull out!

Jx

We're up to 10 weeks now I think, The estate agent told me when we put our offer in she was ready to move then (!!!) so that gave me the impression would be a quick sale if all went ok but obviously not.

Ive spoken to the Estate agent this morning and told them to reassure the seller that not putting any pressure on her, we just would like to be keep updated.

Thank you

hazyjo

Your solicitor should not let you exchange until everything has been dotted and crossed.

And I told a buyer that we would accommodate his 3 week timescale once to exchange. Unfortunately, it ended up taking 5 months! Luckily he hung on - with no threats.

I'm sure she was ready to move - as we all are when selling. BUT unfortunately the fact is the legals take an average of 12 weeks (offer to completion). Yes, it can be sooner, but invariably it's much longer than 5 weeks.

Jx

googler

Richard_Webster wrote: »

Is your seller's purchase the top of the chain? If not, then even when your sellers are ready their sellers may not be ... and so on...

This is a continuing problem ....

What would you suggest to resolve the problem? You probably come up against it every day, do you keep saying "It would be better if ..." ???