Selling a house - 7 weeks waiting to exchange contracts

sandyring

we were told 7 weeks ago by our solicitor that we are now in the position to exchange contracts, 7 weeks later and still we haven't - is it unreasonable on our part to put the property back on the market?

babyblade41

what is the reason for not exchanging ?

hazyjo

Not nearly enough info.


How many in the chain? What's the position with the others? What is the hold-up? How long did it take to get to where you are now? What week are you in (from when the chain was complete and your offer was accepted?).

sandyring

babyblade41 wrote: »

what is the reason for not exchanging ?

signed contracts haven't been received back, we haven't in all honesty got clear info from the solicitors involved - but of course when you bring that up with them, they don't answer.

sandyring

hazyjo wrote: »

Not nearly enough info.


How many in the chain? What's the position with the others? What is the hold-up? How long did it take to get to where you are now? What week are you in (from when the chain was complete and your offer was accepted?).

Sold end of March 2019, only 2 properties in the chain (1 being ours).
We had a month of my buyer not returning signed documents at the very start, then 1 month of my solicitor trying to find documents I had sent them (which were originals).

DigForVictory

crossposted, sorry

On one post, it's impossible to say, but for the buyers who want to buy please hang on - and if you can open communications with them, you may find out who's log-jamming where...

babyblade41

use the agent and the solicitor to request the information .. from time to exchange to 7 weeks later there must be a specific reason.

garth549

7 weeks seems excessive. We were ready on our side and ended up waiting a further 4 weeks for the buyers to return paperwork. Only once we threatened to put the house back on the market did they pull their finger out. Was completed 5 days after that!

sandyring

ok good advise thanks - I will try and get in contact with the buyer and find out what's really going on; the smoke and mirrors aka Solicitor isn't getting this anyway.

muhandis

In you place I would pester the EA to find out what the issue is. Good EAs would keep up to date with the progress, chasing where necessary. After all, they only get paid when the sale completes.

sandyring wrote: »

we were told 7 weeks ago by our solicitor that we are now in the position to exchange contracts, 7 weeks later and still we haven't - is it unreasonable on our part to put the property back on the market?

PasturesNew

There's "no point" just remarketing as a knee-jerk reaction. It's unlikely there are a queue of people with your property bookmarked on their computer who cry themselves to sleep because they missed the chance to buy it.

Put it on and you're back to square one AND it might make some potential buyers either suspicious (why didn't it go through?) or suspecting you'd be desperate for a low ball price.

The estate agent is being paid a large wedge to sell your house and help nudge the conveyancing process through..... lean on the estate agent to get to the bottom of who said what/who is doing what/what others in the chain think is going on.

To just throw your toys out of the pram now would be like running a marathon, then catching the bus home when you can see the finish line in the distance.

99% of the hassle, waiting, wondering, panicking, tidying, stressing..... is behind you right now. Keep it that way.