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why the delay!
jojo9239
Posts: 322 Forumite
we were due to exchange on our sale Friday (we are miving to mums house fell through) but had an email today said exchange didnt happen as they are awaiting something from the lender and that we wont be able to complete Friday as the lender wants a week between the two dates ! What could be the potential delay! Im worried its all going to collapse now 
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Comments
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Ask your solicitor what the delay is. It could be anything at all. Top of my list would be purchaser not having available funds but will in a short space of time, but that's just speculation on my part.
Phone call tomorrow morning. Nothing you can do about it at this stage. Hope it's something minor and all goes through.0 -
They havent told my solicior what the delay is just emailed me this
The seller’s solicitor has said that they have still not had a response from the lender so cannot exchange yet. They are chasing it.
They have said that as the lender will require several working days notice, they may not be able to complete on Friday. They have asked what date you would like to complete if Friday is not possible.
Thats it x0 -
Ok, still not a lot you can do. Presumably there's a backlog with the mortgage company. How long has it been since the sale was agreed? If it's a very short turnaround it could be as simple as the paperwork being in a queue to get signed off.0
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We sold end of June! :eek: x0
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No we accepted the offer end of June exchanging this week0
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Ah! So you didn't sell in June then.
Exchanged dates are never fixed until the Exchange actually takes place. people can say they hope to Exchange on xyz date, but it is no more than that - a hope.0 -
Apologies I accepted an offer0
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Average is 12 weeks from offer to completion. Sounds about right to me...
Jx2024 wins: *must start comping again!*0
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