Failed completion

ceecee19

Hi all, first time here and really anxious about current situation...

We were due to complete on Friday. This didn't happen. The seller is abroad – when we are asleep, he's awake and vice versa.

I believe his solicitor has unduly failed to act in time knowing his location and via our solicitor has expressed utter disregard that this deadline wasn't met.

All our funds are now with them in a secure account – deposit and mortgage but seller's solicitor said that without further authorisaton from him, they cannot complete.

Could anyone tell me what that's all about? We know he has money problems so could this be the reason? Is his solicitor negligible because they failed to get his authorisation because it was 4am his time when they called?

If we don't complete today, what can I do? Feel so sick and anxious. Am losing money every day I am off and I can't even complain directly to his solicitor as understand it's against the rules.

Any know?

thanks!:money:

Pixie5740

ceecee19 wrote: »

Hi all, first time here and really anxious about current situation...

We were due to complete on Friday. This didn't happen. The seller is abroad – when we are asleep, he's awake and vice versa.

I believe his solicitor has unduly failed to act in time knowing his location and via our solicitor has expressed utter disregard that this deadline wasn't met.

All our funds are now with them in a secure account – deposit and mortgage but seller's solicitor said that without further authorisaton from him, they cannot complete.

Could anyone tell me what that's all about? We know he has money problems so could this be the reason? Is his solicitor negligible because they failed to get his authorisation because it was 4am his time when they called?

If we don't complete today, what can I do? Feel so sick and anxious. Am losing money every day I am off and I can't even complain directly to his solicitor as understand it's against the rules.

Any know?

thanks!:money:

Have you actually exchanged contracts which said you would complete last Friday?

What is your solicitor advising you to do?

ceecee19

We were doing both on same day. All the funds were sent across and contracts swapped so I believe that exchange. All sent in one lump sum. Solicitor said we are nearly there and would pick up back up today...

Pixie5740

ceecee19 wrote: »

We were doing both on same day. All the funds were sent across and contracts swapped so I believe that exchange. All sent in one lump sum. Solicitor said we are nearly there and would pick up back up today...

Whose idea was it to exchange and complete on the same day, and a Friday of all days?Exchanging and completing on the same day is risky and if contracts haven't been exchanged yet then the completion hasn't failed because it had never been set.

Your choices are to continue with the purchase or to pull out and find somewhere else to buy.

AnotherJoe

Do you know that contracts were exchanged ?

AdrianC

If you haven't exchanged, then there's absolutely nothing to complain about. The vendor does not need to be "live" at the time of exchange, just as long as their solicitor has all the signed paperwork available.

davidmcn

And generally, it's up to the client to give their solicitor instructions/money, not the solicitor's responsibility to extract instructions out of their client.

pinkshoes

As you haven't exchanged then there is nothing you can do but wait and keep phoning.

Exchange and completion on the same day is very brave.

Comms69

You haven't missed anything, you haven't exchanged contracts; literally the seller could just pull out, no consequence

G_M

ceecee19 wrote: »

We were doing both on same day. All the funds were sent across and contracts swapped so I believe that exchange. All sent in one lump sum. Solicitor said we are nearly there and would pick up back up today...

This is contradictory.
Exchange of Contracts, and Completion, are 2 totally separate processes. You needto understan whether you have or hav not Exchanged.


Sending funds 'across' to your solicitor means nothing.
Sending funds 'across' to his solicitor suggests Exchange may have happened.


Ask your solicitor!


If no Exchange, the seller can withdraw with no explanation and no come-back.]
If Exchange has happened, you can claim demand Completion on 14 days, and claim your extra costs.

AdrianC

G_M - I suspect what's happened is that ceecee has sent their signed copy of the contract (together with funds) to their sol, ready for exchange, and is confusing that with exchange itself.