What to do if I'm ready to exchange/complete but seller hasn't found a property?

jackjassiek

Agree as all above.
You should not spend money until the seller the chain is complete.


When I first made offer, the agent told me that the owner will move into rent (she decides to buy off plan new development property). I was so stupid to believe!
This week, just before we can exchange a contract. The seller changed her mind not to move into rent.

She will exchange a contract without moving into rent! and will only do a completion date ON NOTICE. She will move only when her new development is ready. She said it MAYBE in August, or later.


I have already paid for all surveys, searches, lawyer fee.
If I choose to wait (don't know until when...!), I will have to pay a lot for rent with unsure date of completion
I have only option to wait or walk away.


Agree with above that, being at the bottom of the chain is frustrating situation.

Pdbaggett

You are no where near exchanging. Wait till the chain completes then continue. Could well be a month to something like 6 months or even a year after than before completion depending on how the chain goes.