Pulling out at a very late stage due to no exchange

KatieDee

Hi everybody,

So just when you think everything is going swimmingly, something else comes up...

We put an offer in on our property on the agreement that it would be vacated as soon as we were ready and the current occupiers would stay with family until their purchase had been completed.

I was led to believe by everybody involved that we were looking at a completion date of the 28th of February (offer made 4th of Jan). A week before, I was told that searches had not been returned for the sellers new purchase (!?) so they couldn't proceed. Their seller suggested the 7th of March which we reluctantly agreed to.

It is now three days before the alleged completion date and we still have not had exchange, the reason being given is that "the vendors purchase is still awaiting responses to enquiries raised".

Now...I appreciate that in the grand scheme of things, another week or so isn't that long. However, we're living with the in-laws, mortgage funds have been requested for the 7th and the entire thing is just stressing me out.

I must reiterate...they told us during our offer that they would leave the property as soon as we were ready, regardless of whether they had a house or not. I feel as though the rules have changed because they've found somewhere. I also know that nothing is definite until exchange but this is just silly.

To be honest, I'm insanely close to just pulling out and losing the legal/survey fees. I'm nervous enough as it is (see my other thread about cold feet) and waiting is just making it worse. I'm starting to see it as some kind of sign that I shouldn't be purchasing this house.

Other than say to the vendor that we're thinking of pulling out, I don't know what else I can do. I don't want to rock the boat prematurely (they're probably stressed too!) but I need them to know the importance of completing this Friday. I've been onto the Estate Agents, the vendor and my solicitor. My solicitor has done everything she can to keep things moving but now she's at a brick wall.

Any advice before I pull all my hair out?

Dan-Dan

I have been there and done it and if i could look back and do it again , it would be to STEP BACK and what will be will be

In the niceest possible way , to get this far and pull out would be utter madness!

KatieDee

Dan-Dan wrote: »

I have been there and done it and if i could look back and do it again , it would be to STEP BACK and what will be will be

In the niceest possible way , to get this far and pull out would be utter madness!

You know what, I completely agree Dan-Dan. It's insane but at the moment, I just feel so stressed out. If they'd have been honest with us at the start then we could have stayed in our private rented property for longer and prepared for this.

I feel a bit short changed as I've been so upfront with them from the start. Didn't mess around with stupid offers, kept them updated every stage of the way and because of this purchase we're now inconvenienced. I'm trying to do the best thing for everybody, politely nudging and keeping people updated on every side but it isn't doing anything.

As stupid as I know it sounds, I refuse to put things off for another week or so because of their purchase. If they'd have said they wanted to remain in the house until their purchase had gone through, we may not have made an offer (or would have made a substantially lower offer).

I just want to sit here and cry. I'm not even excited about the house anymore.

G_M

You have presumably not Exchanged?

You were intending to Exchange/Complete same day (28th Feb)? Always stressful and risky.

You can never say: "I was led to believe by everybody involved that we were looking at a completion date of the 28th of February (offer made 4th of Jan)." Completion dates are, until Exchange, nothing more than wishful thinking.

Yes, you could theaten to pull out. However I doubt that will speed things up. It will simply leave you with a decision:
* back down
* or carry through the threat

If you pull out, where will you live? For how long? How long will it take to find a new place and get as far down the process as you now are? Are you prepared to do this?

Only you can decide, but think hard before acting.

KatieDee

G_M wrote: »

You have presumably not Exchanged?

You were intending to Exchange/Complete same day (28th Feb)? Always stressful and risky.

You can never say: "I was led to believe by everybody involved that we were looking at a completion date of the 28th of February (offer made 4th of Jan)." Completion dates are, until Exchange, nothing more than wishful thinking.

Yes, you could theaten to pull out. However I doubt that will speed things up. It will simply leave you with a decision:
* back down
* or carry through the threat

If you pull out, where will you live? For how long? How long will it take to find a new place and get as far down the process as you now are? Are you prepared to do this?

Only you can decide, but think hard before acting.

The in-laws have very nicely put us up, but it would be a nightmare living here for much longer. Really, the last thing I want to do is lose this house as I fell for it big style...but my poor heart cannot deal with the constant changes (although I probably shouldn't have bought a house if I wanted to avoid this...).

No, we were planning on exchanging and completing on different days but as of yet, there's no sign of an exchange. Because they need to purchase their house on the same day, I wouldn't risk an exchange/complete on the same day.

New update...vendor just contacted me after I sent her a text stating that we needed confirmation of the 7th from their solicitor and she said that on speaking to her solicitor, she was surprised as she had already confirmed the completion date this morning, subject to a couple of things in regards to their purchase which shouldn't cause an issue.

I've emailed my solicitor explaining this but what could possibly be going on? Surely they can confirm our completion date without their enquiries being back?

Update - my solicitor confirmed that they have only said they are working towards the 7th and are still awaiting their enquiries. Can I put any further pressure on them? I really want to tell them that I'm not willing to wait on their purchase any longer as this wasn't made apparent at offer stage but will this likely offend?

BitterAndTwisted

Of course it will offend! You could be scuppering their chances of buying their property completely.

Look at it this way, this time next year it will all have faded into distant memory and the reason why you fell in love with your new house will be all that you remember.

KatieDee

BitterAndTwisted wrote: »

Of course it will offend! You could be scuppering their chances of buying their property completely.

Look at it this way, this time next year it will all have faded into distant memory and the reason why you fell in love with your new house will be all that you remember.

Thanks BitterAndTwisted...your personality doesn't reflect your username at all. You should be called PlacidAndReasonable.

That said, I'm still furious and on a bit of a tirade. I feel like a right a**e for being so pushy but when you've set your heart on a date (a realistic date, might I add!) and then it keeps being changed due to things that weren't mentioned originally, it's infuriating.

It doesn't help that solicitors are the most convoluted people ever. Nothing is ever straight forward and I swear they speak in code! Never willing to give a committed answer (although rightfully so) and difficult to get hold off at the best of times.

BitterAndTwisted

Moving home is said to be in the Top Ten most stressful things people ever do in their lives. And for good reason! Think how wonderful it's going to be to open the front door on your new home for the first time. And it would all have been totally worth it. You'll see

KatieDee

Recieved another email from our solicitor which states the following:

"Have checked their replies to enquiries, received today, we still await a legible copy of the Marriage Certificate of their Client in order for Mrs to sell in her married name, we can accept their Undertaking to provide this to avoid delay.

We have had to revert to them in relation to the loft, as they have now confirmed that their client has installed a staircase, roof lights etc. Therefore regardless of whether it is used for habitation or storage, installation of a stairway would have at least required Building Regulation approval. We have asked that they provide Lack of Planning and Building Regulation Approval, to deal with this, at the Seller’s expense."

What does that even mean?! Googling just makes me more confused.

notanewuser

The vendors may be porting their mortgage. Some lenders require the transfer to the next property to be at the same time as the current house is left. So they couldn't keep their rate if they weren't completing on their next purchase. It's a possibility.

But I agree with others. This isn't like buying shoes. All sorts of things can happen between offer acceptance and exchange. 8 weeks for it all to happen would be pushing it at the best of times!!!!

notanewuser

KatieDee wrote: »

Recieved another email from our solicitor which states the following:

"Have checked their replies to enquiries, received today, we still await a legible copy of the Marriage Certificate of their Client in order for Mrs to sell in her married name, we can accept their Undertaking to provide this to avoid delay.

We have had to revert to them in relation to the loft, as they have now confirmed that their client has installed a staircase, roof lights etc. Therefore regardless of whether it is used for habitation or storage, installation of a stairway would have at least required Building Regulation approval. We have asked that they provide Lack of Planning and Building Regulation Approval, to deal with this, at the Seller’s expense."

What does that even mean?! Googling just makes me more confused.

First bit means that they bought with her maiden name, which is still on the house deeds. Having since changed her name to her married name her ID doesn't match and they need proof that she is who she says she is. So they need to see their marriage certificate before they can ensure that they are free to sell the house.

Second bit - you can't just stick a staircase in because you feel like it. It's required for a room/loft extension to be considered a habitable room, but even if its been fitted for access to a non-habitable room it requires buildings control to have certified it safe. They want the sellers to get that proof (which they may well have to pay for if they didn't get it at the time).

Quite simple really.