First Time Buyer and the conveyancing has been a nightmare

phillip_swift

I'm a first time buyer and had an offer accepted on a flat in April. Everything was smooth at first until I found out that it had been a shared ownership property in the past and this is where the problems started.

Only half the title deeds were ever registered and getting that sorted has been a nightmare. The orginal firm who should have done their job properly in 2009 are no longer in existence and the sellers solicitor has been trying to sort it all out. We thought we'd got there and agreed an entry date or concluded missives as I'm in Scotland and then my solicitor picked up on the title disposition which was still wrong so advised against completion as the land registry would nto accept the title.

Things are now moving although slowly and I have a dilemma. This Thursday is 14 days since the entry date (it was the third entry date proposed but the only one that was agreed by the other side), I am able to walk away from the contract on the grounds that the title wasn't good.

This has been going on for so long that if we're so close now for the sake of an extra week or two I might as well stick with it however my mortgage offer expires in 2 and a half weeks and according to the solicitor I need to decide by Thursday if I'm going to pull out or stick with it.

My issue is that my solicitor has now informed me that because they're having to do a lot more work this is going to cost me more money. There may be the option of pursuing the company who caused the problem for my costs.

I really don't know what to do for the best, do I just cut my losses and walk away which means going through the whole process again or do I stick it out and hope it all works out before my mortgage offer expires.

My mortgage is with Aldermore so I don't know how easy it will be to extend the mortgage offer with them or how much it'll cost. What started out as a simple process now seems to be dragging on and getting more expensive.

I know this is probably a difficult one to understand but has anyone got any thoughts. I really don't want to go back to the beginning of the whole process and find a new flat but am I an idiot for sticking it out this long? Part of me thinks at the first sign of trouble I should have walked away.

Thrugelmir

If you would like the property to become your home. Then stick with it. In a few months all the stress will become a distant memory.