Confused

sexysam

In April 2007, my daughter agreed to purchase a house for £106000. Solicitors did all paperwork, but seller pulled out at last minute because his purchase fell through. He phoned us last week to say he he has found another house and asked if we want to continue to buy his house. We agreed, but he said he wants completion done in 2 weeks as he needs to pay a deposit of £20000 on new house from the money that he hopes to get from us after completion. We rang our solicitor who said could not do all paperwork in time,(even though he told us last time that all paperwork is done). He says he needs to do another check with Land Registry and that will take more than two weeks.

I am so confused and unhappy with solicitors becuase they never keep me up to date. Dont respond to my phones or emails if I want to ask questions. Infact I am now so scared to ring them up because they might think I am nothing but a pain the backside.

My daughter will be so dissapointed if she looses out again, no thanks to solicitors and the seller who keeps pressurising me to get our solicitors to act faster.

I just dont know what to do, We dont want to loose out on this property, but I feel awful ringing solicitors up all times.

Any advice as to what I can do, would be most appreciated.

Thanks

Doozergirl

I'm sure if it could be done, then the solicitor would do it. Things like searches won't be accepted by a lender after a certain amount of time and so it has to be done again. Searches are only really valid on the day they are carried out but accepted for longer as it really would be a nightmare otherwise.

I'm sure she can still have the house - where is her vendor going to find another buyer at the same price who can complete in two weeks?? I'm sure things might move a bit quicker because of the previous conveyancing work, but not quick enough, obviously.

Curv

AFAIK searches are valid for a maximum of 6 months, so the solicitor is doing the right thing getting new ones. How hacked off would your daughter be to find that planning permission was given in August for a new road to be built through the middle of the house?

I know, I know... an extreme example but still.

carpetbelly

I'd personally get the guy to knock some money off as well if he wants this sale to go through asap as who's to say he wouldnt pull out again and cause more issues? Houses will come and go, why give in to someone who's already let your daughter down once before?

silvercar

You need to check how prices have changed in your area. If they have fallen you need to renegotiate the deal.

I doubt the original mortgage offer is still valied, which means another mortgage offer, valuation etc.

SquatNow

The seller is looking at a declining market and is screaming "SELL! SELL!" like a terrified red-faced stock-broker as they see the screens turn red.

They want a quick sale as they know if the sale takes more than a month people will have realised house prices have turned and he wont get the price he's asking for it.

There is a crash coming. Buying at the peak just before the crash is financial suicide. The factthat the buyer has come directly back to you shows that they are desperate... if the market was as good as everyone claims, since april the house would have increased in price.

Doozergirl

SquatNow wrote: »

The seller is looking at a declining market and is screaming "SELL! SELL!" like a terrified red-faced stock-broker as they see the screens turn red.

They want a quick sale as they know if the sale takes more than a month people will have realised house prices have turned and he wont get the price he's asking for it.

Yes of course. That's exactly what he's thinking. That's why he's buying a new house and needs a £20,000 deposit. :rolleyes:

Talk sense.

mumoftwins

Searches are only valid for 3 months but some searches can be done as 'personal' searches which should be back withing 48hrs. But can the mortgage lender arrange survey, get employers references etc back in order to get mortgage offer out within 2 weeks? You need to speak to broker to see if this possible.

david29dpo

If you were not happy with the solicitor, use another one. Because of the time scale you will have to start the sale from scratch anyway. But as said above, is the price still valid? I would check if its value and gone down or up.

MikeLondon_3

Can People Please Stop Preaching About Crashes!!! How Does Squatnow's Post Have Anything To Do With This Thread??? Is It Helpful????

It's So Annoying When Trying To Read Helpful Posts You Always Come Across One Or Two People Who Find It Necessary To Turn Every Thread Into A Crash One. Please Don't.

Can This Sort Of Thing Be Reported To Anyone???

Frags

MikeLondon i totally agree!!!

For Christ sake how do u KNOW for sure there will be price crash? Are u telepathic!!! This person is in need of help, support and advice, not someone preaching about bloody house prices it really makes my blood boil!!!

Can we keep advice constructive!!!