Seller puts down a hard date for exchange

davidmcn

What does your solicitor say about it? Do you have any reason to believe you won't be in a position to exchange by then?

leaseholdzzz

I hadn't heard of this. Is Boris going to remove stamp duty? It's not a big amount but will I get a refund if that happens?

millwalls wrote: »

Maybe the seller is worried you'll get cold feet the longer it gets delayed.....google "stamp duty boris"

Smodlet

Well that was a veritable flurry of cross-posting, wasn't it? Sorry if you feel bombarded, OP; I am sure that was no-one's intention.

To sum up, you hold the reins, you drive this applecart; exchange will be when you are ready unless this landlord thinks no-chain buyers grow on trees, which they don't.

davidmcn

leaseholdzzz wrote: »

Is Boris going to remove stamp duty?

He said he would during his leadership campaign. So probably not.

It's not a big amount but will I get a refund if that happens?

No. In the same way that if stamp duty goes up after your transaction completes, they can't go back to you and ask for more.

eddddy

leaseholdzzz wrote: »

I'm happy to exchange whenever but want to make sure that the legal work is meticulously done given that it's a leasehold.

leaseholdzzz wrote: »

Enquiries regarding the lease - possible breach, deficit in management co accounts, major works, etc.

I think there are a couple of clues in those statements (and your posting history, for example: https://forums.moneysavingexpert.com/discussion/6028650/buying-a-leasehold-flat).

Is the seller/EA getting a bit frustrated by your questions and requests - some of which might seem a little misguided?

I think perhaps the EA is saying:

"The seller has given you all the information they intend to give, so now the ball is in your court.

You have to decide whether you want to proceed (and exchange contracts by 15th August) or whether you want to walk away."

foxy-stoat

"Hard date"...whats that then, is that like a hard brexit? If your not in Scotland then the vendor knows nothing is set in concrete before exchange as much as the buyer knows that they are not on the hook before exchange.

muhandis

The vendor can call a date whatever they want - rock-hard/soft/wobbly but you need to get satisfactory answers to your enquiries, especially so for a leasehold flat so that takes as long as it does.

leaseholdzzz

That could well be the case.

Their solicitor has been dismissive of most of the queries my solicitor raises and repeatedly answers "my client is not aware" even for things that have turned out to be demonstrably false for instance - breach of lease by not having carpeting (their solicitor still doesn't accept it is a breach, saying others have done it and it won't be enforced), a mysterious 27k deficit in the 2017 accounts which hasn't been made up yet and no one appears to know who is supposed to pay for, etc.

Anyway, there is no shortage of flats in the area so if the seller refuses to answer any more queries, I guess we have no option but to call it off. I guess we might have to start viewings again this weekend, while avoiding the current Estate Agent.

eddddy wrote: »

Is the seller/EA getting a bit frustrated by your questions and requests - some of which might seem a little misguided?

foxy-stoat

Just confirm that you will proceed with the exchange on 15th August, then on 14th August confirm that you will not be proceeding with the sale.

davidmcn

Tell them you're happy to exchange on 15 August if by then they've provided satisfactory responses to the outstanding enquiries (assuming there really is nothing on your side you're waiting for).