5 chain house move collapsing due to one solicitor

Brightspark87

Thanks everyone I understand nothing final until exchange - but don’t agree to an exchange deadline and then just mess everyone around.

I truly hope karma comes into play - we gave them a discount to asking price to secure a ‘quick sale’ and they’ve not provided this.

Surrey_EA

There's no point in 'exchange deadlines' or offering discounts for a 'quick sale.'

On day one when the offer is made nobody has the faintest idea how quickly or slowly matters might proceed.

These things often take as long as they take.

spadoosh

Brightspark87 wrote: »

Thanks everyone I understand nothing final until exchange - but don’t agree to an exchange deadline and then just mess everyone around.

I truly hope karma comes into play - we gave them a discount to asking price to secure a ‘quick sale’ and they’ve not provided this.

House buying doesnt work like that. They didnt have to provide a quick sale unless you manage to get them to sign up to a contract stating such. You just gave them £9k. That was your decision, when you apparently knew that its not completed until its completed so basically knew that chucking £9k at them was essentially depriving you of £9k and giving them £9k for doing nothing.

Your acting irrationally about house buying/selling and its costing you money. Take a step back before it costs you more money, more stress and more problems. You just dont get to dictate how things move along, you can put forward your desires and wishes but thats all they are. There is more peopl einvolved than you and they will to have their desires and wishes to fulfil. The reality is hardly anyone gets exactly what they want unless theyre the people who arent rigid in getting exactly what they want. You just need to learn to be more flexible. Or be willing to chuck more money and better legal teams at things.

Thrugelmir

Brightspark87 wrote: »

but don’t agree to an exchange deadline and then just mess everyone around.

Deadline or target. Solicitors have to ensure that every i is dotted and t is crossed. Ultimately they are responsible to the mortgage lenders as well. Not just the parties that have notionally agreed an exchange date.

Tiglet2

A buyer or seller doesn't have the right or ability to impose exchange and completion dates, so offering a financial incentive is completely unnecessary and a waste. your EA also cannot dictate dates or apply pressure to any party other than encourage people to respond quickly to requests.

You instruct a solicitor to do the legal work in relation to your sale and purchase. That solicitor is also instructed by the lender to act for them. The solicitor has to liaise with the other side solicitors, the lender, the Land Registry, the search provider, the Council and possibly a freeholder or management company. Only when they have all the paperwork for the property and replies to enquiries, will the solicitor then take notice of any desired exchange and completion dates you prefer. The solicitor has a process to go through to get to this point. If it takes 6 weeks or 26 weeks to get there then that is how long it will be.

Brightspark87

Guys take on board your points - but equally people have to be reasonable and understand there are actually people behind these investments.

We specifically added to the sales info that there was a our mortgage date and made it clear that this was out of our control.

I appreciate the constructive comments but honestly, if it was you buying and selling wouldn’t you equally have emotional ties?

ThePants999

Remind your purchasers that the £9K discount was for a quick sale. If you miss your mortgage offer, you're no longer in a rush, and the price will go back up, even if that means pulling out of this sale and remarketing.

Tiglet2

Totally agree that people have to be reasonable and that includes everyone. Your solicitor will know when your mortgage expires. If completion is likely to take place shortly, then the solicitor can ask for an extension from the lender on your behalf. Lenders will normally agree to an extra week or so.

What do the buyers need two indemnity policies for? Is it something you should have had but don't? Are they agreeable to pay or would you pay? It is usually the sellers responsibility if there is some paperwork missing. Sort out who pays and the policies can be effected immediately. The main issue is the response from Land Registry. I assume it has been expedited because you won't exchange without a satisfactory response.

I do understand how you feel and have been in a similar position on previous sales and purchases but since I have been working as a paralegal in a conveyancing firm, I now also see the other side's situation. Clients put unnecessary deadlines on themselves and others and just end up stressed and disappointed.

lookstraightahead

Brightspark87 wrote: »

Guys take on board your points - but equally people have to be reasonable and understand there are actually people behind these investments.

We specifically added to the sales info that there was a our mortgage date and made it clear that this was out of our control.

I appreciate the constructive comments but honestly, if it was you buying and selling wouldn’t you equally have emotional ties?

I think nowadays people have less patience and place so much emphasis on moving/housing. It's one of the major causes of stress in this country but has so little value compared to other countries with no food or clean water. I take this on board and try to go with the flow. It happens with all decisions whether at work, in family life, moving house, even funerals !! You are trying to control the situation over which you have no control. Take a step back.

Crashy_Time

ThePants999 wrote: »

Remind your purchasers that the £9K discount was for a quick sale. If you miss your mortgage offer, you're no longer in a rush, and the price will go back up, even if that means pulling out of this sale and remarketing.

Absolutely terrible idea IMO.