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LPE1 MIA: Is there anything we as buyers can do?
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ardillita
Posts: 2 Newbie
My partner and I are FTB of a flat with no chain; thought this would mean the buying process would be relatively quick but it's been 17 weeks since our offer was accepted and we still don't sound like we're near exchange (depending on who you believe). Sorry, this is a long post but would appreciate advice from those more experienced! 
I'm a bit worried we're being lied to by the EA as their story changes daily.
They had to declare in the sales brochure of the property that they had vested interest (though have never mentioned it to us directly) and after a quick search it would seem that the flat is owned by the EA co-founder's wife, though all offers were put to a male so I assume co-founder is driving the sale.
Everything our side was sorted and lines of enquiry sent off at the end of Feb. At this point, EA was pushing and pushing us to sort things so we could complete within March (flat was previously rented but has been empty since Jan so owner is losing money). However, my solicitor received a letter saying the vendor didn't pay the management company (Countrywide) to start work on the LPE1 until 29th March.
Now, all we are waiting for is this LPE1, then (providing no issues) we can exchange straight away. We've been phoning up EA every day for updates, sometimes talking to our account person (C), sometimes others. In the last 2 weeks, we've heard from them:
- C: "we have the LPE1 now, but it raised some more enquiries which could take 1 week, they could take 3-4."
- C: "this is going to take longer than we thought, probably a month, we understand your rental contract has expired this week so would you like to rent the flat at market rate" [£950 even though when we bought it the flat was being co-marketed at £900 - we would also have to pay EA fees. Said no as this seems like a huge conflict of interest and would remove incentive for vendor to complete quickly. Is this a normal thing to offer?!]
- C: "it could be 1, 2 maybe even 3 months until we complete, I've got some good news though, the vendor says he will offer you market rate of £950 but with a £150 cashback after completion for every full month you're in there" [at this point I mentioned that my auntie owns an estate agency down the road so if we needed an emergency short term let we would look to her, and C got all flustered about my "connections"]
- X: "I've looked at your file, we still haven't received the LPE1 so the vendor has lodged a complaint with her management company and threatened with the ombudsman if we don't have it by next week"
- Y: "we should have the LPE1 on Monday" [Monday being yesterday]
- C: "the management company are now claiming they haven't started work on the LPE1 because they haven't received any payment. This will take months."
Now I know both EAs and Management companies are famed for being useless, but all this contradiction seems odd and we don't know who to believe (our solicitor is baffled as he has received no update at all from theirs despite chasing multiple times).
Maybe I'm stepping out of line here in my lack of experience, but is there anything we can do to get the real story out of the mgmt company and perhaps put pressure on to speed things up? If we or our solicitor were to call them would that help or hinder the situation? Would I look crazy or is this something buyers normally do? :huh:
We're currently living back at my parents' house (very lucky to have that option!) but we're desperate to move into our own space again. I go away on holiday from mid- to end of May so right now it's looking like we won't complete until at least June...
Any help much appreciated!
I'm a bit worried we're being lied to by the EA as their story changes daily.
They had to declare in the sales brochure of the property that they had vested interest (though have never mentioned it to us directly) and after a quick search it would seem that the flat is owned by the EA co-founder's wife, though all offers were put to a male so I assume co-founder is driving the sale.
Everything our side was sorted and lines of enquiry sent off at the end of Feb. At this point, EA was pushing and pushing us to sort things so we could complete within March (flat was previously rented but has been empty since Jan so owner is losing money). However, my solicitor received a letter saying the vendor didn't pay the management company (Countrywide) to start work on the LPE1 until 29th March.
Now, all we are waiting for is this LPE1, then (providing no issues) we can exchange straight away. We've been phoning up EA every day for updates, sometimes talking to our account person (C), sometimes others. In the last 2 weeks, we've heard from them:
- C: "we have the LPE1 now, but it raised some more enquiries which could take 1 week, they could take 3-4."
- C: "this is going to take longer than we thought, probably a month, we understand your rental contract has expired this week so would you like to rent the flat at market rate" [£950 even though when we bought it the flat was being co-marketed at £900 - we would also have to pay EA fees. Said no as this seems like a huge conflict of interest and would remove incentive for vendor to complete quickly. Is this a normal thing to offer?!]
- C: "it could be 1, 2 maybe even 3 months until we complete, I've got some good news though, the vendor says he will offer you market rate of £950 but with a £150 cashback after completion for every full month you're in there" [at this point I mentioned that my auntie owns an estate agency down the road so if we needed an emergency short term let we would look to her, and C got all flustered about my "connections"]
- X: "I've looked at your file, we still haven't received the LPE1 so the vendor has lodged a complaint with her management company and threatened with the ombudsman if we don't have it by next week"
- Y: "we should have the LPE1 on Monday" [Monday being yesterday]
- C: "the management company are now claiming they haven't started work on the LPE1 because they haven't received any payment. This will take months."
Now I know both EAs and Management companies are famed for being useless, but all this contradiction seems odd and we don't know who to believe (our solicitor is baffled as he has received no update at all from theirs despite chasing multiple times).
Maybe I'm stepping out of line here in my lack of experience, but is there anything we can do to get the real story out of the mgmt company and perhaps put pressure on to speed things up? If we or our solicitor were to call them would that help or hinder the situation? Would I look crazy or is this something buyers normally do? :huh:
We're currently living back at my parents' house (very lucky to have that option!) but we're desperate to move into our own space again. I go away on holiday from mid- to end of May so right now it's looking like we won't complete until at least June...
Any help much appreciated!
0
Comments
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It is a matter for the vendors or their solicitors to chase the management pack.
Perhaps start viewing some other properties with the same agent.0 -
Can you not look for a different flat?
With that amount of conflict of interest going I'd have walked away long ago.
Of course you could always call their bluff and say that's what you're going to do, you might just find things speed up somewhat....
BF0 -
Are you doing the conveyancing yourself? If so, time to stop!
If you have a conveyancer, why is he not managing this - you should not be chasing the EA.0
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