Vendor stalling for time !?

whunt18885

Hi All

Long story short myself and the missus have a put an offer which got accepted on a new house nearly 3 weeks ago - Mortgage / solicitors etc all sorted and they were in place from day 1.

The chap buying our house (required for purchase of new house) has given us grief because he is keen to exchange/complete - We are also ready too but the guy selling the house we are buying is deliberately stalling. Our solicitor has said that they cannot finish the searches as the 'house pack' that they need from the vendor has not be given despite several requests.

I rang the vendors EA and they confirmed that the client was holding off because he has not found a place to move too yet (his desired property / offer fell through).

I obviously advised them of our situation and that we are keen to move etc but is there anything else I can do ? I know legally there is nothing I can do but any advice would be much appreciated.

I don't want this to fall through because we have already paid £500 for a survey and another £180 for a mortgage appraisal.

Realistically how long should I give this guy to come up with what is needed before we have to consider looking elsewhere ?

Thanks

whunt18885

I should add that we made it quite clear to all concerned right at the start of the process that we needed to move quickly and everyone was happy with that.

cycloneuk

It could take a while since you have a broken chain, you are at least 4-6 weeks away from exchange and that is if your seller buys a new build or chain free, otherwise the next person needs to find some where and so on.

It is very frustrating, I'm waiting on my chain to form and until it does I wont be starting the searches on my purchase.

whunt18885

Ok thanks for the advice, I will hold off for as long as I can - At least the guy buying our place has also spent some money so I assume accept a bit of waiting first.

skintpaul

Give vendor a week to complete docs, or request payment of wasted fees, and possible lost sale.


I'm sure his/her EA eager to be paid, too..

societys_child

skintpaul wrote: »

Give vendor a week to complete docs, or request payment of wasted fees, and possible lost sale.

Good luck with that .. .

Loopy28

If the vendor has lost the house they wanted to buy, of course they will be stalling as they cannot sell until they have somewhere to move to. At the point when you said you wanted to complete quickly, the vendor probably agreed as they were in a position to do so. Now they have lost their onward property, they are not.

You will need to wait until they find a new property as I don't think they are just going to buy something they are not happy with to keep their buyer happy (would you?)

Hoploz

Loop is right. The chain was complete, but now it isn't. Unless your vendor is willing to sell and move out there's nothing you can do except wait or look elsewhere (though there's nothing to say another vendor would be in any better position)

Personally I would not sell without a purchase, but some people do. It doesn't look as if your seller will.

rosie383

We were in a similar position and had no choice but to wait. Our buyer (FTB) had paid out for all her searches, survey, whatever. We waited until the chain above us formed before paying out anything. We are now about 6 months from first putting in an offer and are hoping to exchange next week. If you really want the property you have no choice but to wait and hope that your buyer is happy to wait too for however long it takes. If our buyer had dropped out we could easily have got another as the market is flying here, but we couldn't afford to lose the one we are buying.

skintpaul

top vendor can surely rent somewhere while finding a new house? Seems selfish, holding everyone else up..

DRP

skintpaul wrote: »

top vendor can surely rent somewhere while finding a new house? Seems selfish, holding everyone else up..

for most people that isn't practical, is expensive (000s), and will result in being tied into a rental agreement for 6 months.


Not selfish at all, unless the vendor promised this at the beginning of the process.