Seller not completing

PilgrimDesign

I am having trouble with a house purchase.
We exchanged contracts and were due to complete on thursday the 3rd, but the seller did not have all their paperwork in order so this couldn't happen. They did not have the redemption statement or a receipt form. I believe they now have the redemption statement but they still are not ready to complete.
My solicitor is not being very helpful or even answering my calls at the moment as he just says he isnt sure what the hold up is, its all their end.

I am self employed and have had to turn down a weeks worth of work so far already and cannot book any more jobs in until I know when this will be resolved. The house I am buying needs a lot of work so I am not moving in straight away.

Does anyone have any advice on the best way to proceed now for me? Im bored of sitting at home losing money while waiting for the phone to ring. Are there any sensible things that I can do to push this sale forward?

Thanks

m0bov

You need to escalate with your sol. He needs to send a notice to complete. You will be suing for loss of earnings and any other losses, this could massively cost the vendor.

It doesn't matter were the delay is, it's down to your seller who will be held liable.

Tiglet2

Are you sure you have exchanged?

elsien

Tiglet2 said:

Are you sure you have exchanged?

This ^^^

Have you definitely exchanged or just signed the forms with the plan to do exchange and completion on the same day? 

PilgrimDesign

yes we definitely exchanged and I paid the deposit. 
My paperwork says completion date 3rd June 2021 under the definitions. 

My solicitor said something about not being wise to issue the notice to complete as their mortgage is still outstanding and then I could be left with their mortgage. This doesnt sound right to me, but I know the law is not always logical.
Thanks

GeordieGeorge

No, you can’t be left with their mortgage. You need to push ahead, get it issued, and note your expenses.
Remember, you do need to try to mitigate them, so it’s not carte blanche to run up unnecessary costs.

fiveacre

Why on earth would they advise against issuing a notice to complete? What exactly did your solicitor say about it? Can you escalate it to someone more senior at the firm if they really said "you could be left with their mortgage".

PilgrimDesign

fiveacre said:

Why on earth would they advise against issuing a notice to complete? What exactly did your solicitor say about it? Can you escalate it to someone more senior at the firm if they really said "you could be left with their mortgage".

He has been dealing with me by phone so I dont have it written down, but he said "we could force through the sale but then you could be left with their mortgage and you dont want that do you" He is one of the partners at the firm. he has been ignoring my calls all this week but I will try again tomorrow all day until he picks up! I will ask him again why he wont issue the notice to complete and try and get him to put it in an email to me this time.

verytired11

My understanding is that until the charge on the property is redeemed it will stay on the property.  It sounds as if it is the lack of a redemption statement that is holding up redemption - they will need to know the exact amount.  So if you were to complete on the property before the mortgage was redeemed, the charge would still be there. It's not that the mortgage would become yours, but the property on which there was an existing charge would become yours. However, the real problem is that your lender would not allow completion until the seller's lender's charge was redeemed.

AdrianC

PilgrimDesign said:

yes we definitely exchanged and I paid the deposit. 
My paperwork says completion date 3rd June 2021 under the definitions.

Paid it to your solicitor, sure... But has he actually exchanged contracts with theirs?

My solicitor said something about not being wise to issue the notice to complete as their mortgage is still outstanding and then I could be left with their mortgage. This doesnt sound right to me, but I know the law is not always logical.

Unless and until their lender remove their charge from the title, which means paying off the mortgage, the title cannot be changed to your name.

Mickygg

I bet contracts haven't yet exchanged, otherwise it would be a whole different ball game.