Running out of time...

lozzaj83

We are first time buyers which have been really unlucky with our property choices.

We first put an offer on a house which was accepted, got all the way through the searches etc to the point before exchange and the 2 on-ward purchasers pulled out of their houses. We couldn't extend out mortgage offer so we had to pull out as well.

The second house which we are currently going through the solicitors with, has hit a snag. We managed to get a new mortgage approved - but the vendor's solicitors are sitting on our enquiries and have been for 6 weeks - and haven't released them. They are now looking to move to a rented property which they currently can't find and I am afraid they are going to pull out of the sale as well.

The problem we have is that I am 7 month pregnant and we had hoped that we would be in the property by this bank holiday weekend (just gone) but there isn't any sign of movement. We are running out of time and I am worried that they will pull out. We won't have anywhere to live once the baby comes along.

I haven't mentioned this to the solicitor / estate agents etc as we were worried it would affect our mortgage but we are running out of options, and I really don't want to stay where we are when the baby is born.

Does anyone have any ideas as to how we can progress this purchase?

Annie1960

Welcome to the world of house-buying.

If you have an immovable date by which you need to complete, you need to state this clearly when you make your offer.

In practice, this means restricting yourself to properties which do not have an onward chain (e.g. probate, vendor moved abroad etc).

lozzaj83

Annie1960 wrote: »

Welcome to the world of house-buying.

If you have an immovable date by which you need to complete, you need to state this clearly when you make your offer.

In practice, this means restricting yourself to properties which do not have an onward chain (e.g. probate, vendor moved abroad etc).

Thanks Annie - when we received the memorandum from the estate agents - it stated on there 'exchange within 8 weeks of draft contracts'. This has come and gone. The vendor has always said it is a purchase with no onward chain and they would move asap - however they have pulled out of their new build property. They are looking at rented but with no luck.

Annie1960

lozzaj83 wrote: »

Thanks Annie - when we received the memorandum from the estate agents - it stated on there 'exchange within 8 weeks of draft contracts'. This has come and gone. The vendor has always said it is a purchase with no onward chain and they would move asap - however they have pulled out of their new build property. They are looking at rented but with no luck.

Then your vendor has lied to you, they are in a chain.
No chain means the house is a probate sale, or the vendor has already moved away.

lozzaj83

Annie1960 wrote: »

Then your vendor has lied to you, they are in a chain.
No chain means the house is a probate sale, or the vendor has already moved away.

So there isn't anything we can do but wait really? I am worried that they have instructed the solicitors to sit on the enquiries until they find a rental property. Or the worst case scenario is that they hold out for 9 months until the new build they have now decided on is ready, however, we on the other hand can't wait that long and have around 8 weeks to decide what to do!

ognum

lozzaj83 wrote: »

We are first time buyers which have been really unlucky with our property choices.

We first put an offer on a house which was accepted, got all the way through the searches etc to the point before exchange and the 2 on-ward purchasers pulled out of their houses. We couldn't extend out mortgage offer so we had to pull out as well.

The second house which we are currently going through the solicitors with, has hit a snag. We managed to get a new mortgage approved - but the vendor's solicitors are sitting on our enquiries and have been for 6 weeks - and haven't released them. They are now looking to move to a rented property which they currently can't find and I am afraid they are going to pull out of the sale as well.

The problem we have is that I am 7 month pregnant and we had hoped that we would be in the property by this bank holiday weekend (just gone) but there isn't any sign of movement. We are running out of time and I am worried that they will pull out. We won't have anywhere to live once the baby comes along.

I haven't mentioned this to the solicitor / estate agents etc as we were worried it would affect our mortgage but we are running out of options, and I really don't want to stay where we are when the baby is born.

Does anyone have any ideas as to how we can progress this purchase?

sadly just because you don't want to stay where you are when your baby is born it is possible/probable that is what you will be doing.

What can you do about it, threaten to pull out of the purchase but the vendor may not be too bothered if you do.

Look for a new property but that will take more than 8 weeks

Start hassling solicitors, the sellers estate agent and the sellers.

Relax and go with the flow.

Your method is your choice but I think you will need to accept you may be where you are now. Many people have had babies in less than desirable situations and it does work out.

lozzaj83

ognum wrote: »

sadly just because you don't want to stay where you are when your baby is born it is possible/probable that is what you will be doing.

What can you do about it, threaten to pull out of the purchase but the vendor may not be too bothered if you do.

Look for a new property but that will take more than 8 weeks

Start hassling solicitors, the sellers estate agent and the sellers.

Relax and go with the flow.

Your method is your choice but I think you will need to accept you may be where you are now. Many people have had babies in less than desirable situations and it does work out.

Thanks for your reply. It's just not a practical solution. We are living with parents in a small 3 bed semi. They smoke all day and have 4 cats and 3 dogs which is just about bearable now! There just isn't any space.
We are speaking with all the parties involved on almost a daily basis to move things along. Maybe it's just my hormones but it's just so frustrating - especially being lied to!

lozzaj83

What about mentioning the pregnancy? Will this affect our mortgage?