Buyer might not make entry date

gadget88

Hi need some advice.

A person is buying my property for a buy to let mortgage. We had set a date of April for entry but we moved into a private let as we felt we needed time to find something else. We did find a house and had offer accepted which was great.

My solicitor has informed me he has the conveyancing papers but
No title deeds or proof of her mortgage. He asked for proof of her mortgage or we will go back to market.

Should we go back to market? Keys are meant to be exchanged Thursday but her solicitor isn’t communicating much. Where do we stand? The person buying our house she works in a letting agent which we have rented this property from. She knows we have moved out and we can’t be left paying a mortgage and rent as we can’t afford it.

We could have to move back but we want to avoid that if possible. If we go back to market we believe the property would sell within weeks however this experience has been stressful and we may miss out on the house we are buying if this person is messing us around.

So what do we do next? My solicitor doesn’t seem to know what’s going on. Estate agent with me now and told me to go via solicitor.

Pixie5740

I take it you haven't concluded the missives yet...?

Pixie5740

If she's buying your property what title deeds of hers would your solicitor expect to see?

gadget88

Pixie5740 wrote: »

If she's buying your property what title deeds of hers would your solicitor expect to see?

I thought we would have to sign something though?

gadget88

Pixie5740 wrote: »

I take it you haven't concluded the missives yet...?

No the entry date is this Thursday nothing signed yet

Smodlet

Sorry, OP but your post makes no sense to me. Why would you move out of your own house to rented accommodation? Why not just wait for completion and move into your newly purchased house?

gadget88

I could have done that if I offered on the property a month before but I agreed an earlier entry date with the buyer meaning for 5 weeks I would have no where to stay so I have taken a month by month rent until I move into the new property.

Smodlet

Sounds as if you have moved into rented for nothing, then. Not what usually happens until completion, I would have thought.

davidmcn

gadget88 wrote: »

I could have done that if I offered on the property a month before but I agreed an earlier entry date with the buyer meaning for 5 weeks I would have no where to stay so I have taken a month by month rent until I move into the new property.

Seems a bit premature to do that if the buyer hasn't progressed the transaction beyond submitting their offer. But you are where you are.

All you can do is chase up via your solicitor and/or directly (and/or via the agent if you sold via an agent?) to see what they're up to. When did your solicitor threaten remarketing and was there a deadline imposed?

gadget88

davidmcn wrote: »

Seems a bit premature to do that if the buyer hasn't progressed the transaction beyond submitting their offer. But you are where you are.

All you can do is chase up via your solicitor and/or directly (and/or via the agent if you sold via an agent?) to see what they're up to. When did your solicitor threaten remarketing and was there a deadline imposed?

He sent that email today to the solicitor.

But if they miss the date surely I’m in my right to remarket because they have not given a valid reason for a delay?

G_M

Is this England or Scotland?

Either way it sounds like you have not Exchanged (Englnd) or completed Missives (Scotland), so there is no binding contract and no fixed 'entry date'.

You can either be patient and wait for this buyer to get their act in place, or re-advertise and start again from scratch. Up to you.