Memorandum of sale not being issued

ash__1

Hi all,
Has anyone had a similar problem? My husband and I are chain free in rented accommodation, professionals with mortgage in place and proof of funds in the bank. We saw a house that we liked, the EA would not give our offer to the vendor without an offer check. We declined their mortgage advisor ( which they werent happy about) and the next day showed proof of all our documents.
After much haggling in price our offer was accepted (slightly below the asking price) but the EA has not issued the memorandum of sale. He has all solicitor details. Our mortgaage valuation has happened and its been 3 weeks. My solicitor cannot go forward of course.
The EA says they cannot issue it until the vendor has secured a house to buy. Is this correct? Can the memorandum of sale not be issued until the chain is made? Or are we being strung along?
They ignore our calls and I'm starting to get put off.
Your advice would be much appreciated

Bonfire_Bride

You may be waiting a while until the vendors find somewhere. They probably do not have a solicitor yet as these are only usually instructed once they have had an offer accepted on a property.

Don't worry about refusing the EA's mortgage advisor....an EA offered us an appointment with a mortgage advisor even though I told them I already had an accepted mortgage offer in place...at a fantastic rate.

G_M

The Property Ombudsman Code of Practice does not require a sale memorandum to be issued.

And there is little point given neither side would sensibly incur costs at this stage by progressing the purchase.

I would quietly continue looking just in case you chance upon another property you like which is proceedable while you are waiting.

ash__1

Thankyou for your responses. I've never bought in a chain before and when i put the offer down was misguided by the EA at how quickly we could complete. He said the elserly mother living ther would go.into respite care when the purchase went through as we told them we needed a quick sale. The poor communication (and lie) is extremely frustrating.
G_M you are right we will continue looking

Surrey_EA

ash__1 wrote: »

Thankyou for your responses. I've never bought in a chain before and when i put the offer down was misguided by the EA at how quickly we could complete. He said the elserly mother living ther would go.into respite care when the purchase went through as we told them we needed a quick sale. The poor communication (and lie) is extremely frustrating.

It is entirely possible that this is what the EA was told by their client. I have long since lost count of how many times a seller has told me they would move out to let the sale go through and then changed their minds.

As others have said, keep your eye out for anything else, there is no point spending any money at this stage, wait until the chain is complete before progressing further.