Exchange of contracts buyer's solicitor is stalling

michael1234

1/ I also get very stressed about things like that. BUT my advice is however difficult, its best to wait and chase as little as possible because if the buyer senses that you are "desperate" to move asap he might in time use that to his advantage and your disadvantage. (e.g. suddenly attempt to reduce the purchase price). You've chased once that's ok just to see where you are, but I'd leave it at that for now.

2/ You've said you're in a stressful situation so don't really need folk needling you. You could click the red flag next to  that post and select "unfriendly/abrasive" as your reason for reporting. As I have done.

Reginald74

michael1234 said:

1/ I also get very stressed about things like that. BUT my advice is however difficult, its best to wait and chase as little as possible because if the buyer senses that you are "desperate" to move asap he might in time use that to his advantage and your disadvantage. (e.g. suddenly attempt to reduce the purchase price). You've chased once that's ok just to see where you are, but I'd leave it at that for now.

2/ You've said you're in a stressful situation so don't really need folk needling you. You could click the red flag next to  that post and select "unfriendly/abrasive" as your reason for reporting. As I have done.

Exactly this.  Good advice on both counts.

I'm sorry but this happened to me many years ago and when I finally got in contact with them myself they just admitted they had spent the deposit and could no longer proceed.  I moved eventually and got nearly £10k more for the house.

Even if it does fall through, you have options, including the developer part exchanging on your new build, but obviously approach that with caution.

Willis75

Reginald74 said:

michael1234 said:

1/ I also get very stressed about things like that. BUT my advice is however difficult, its best to wait and chase as little as possible because if the buyer senses that you are "desperate" to move asap he might in time use that to his advantage and your disadvantage. (e.g. suddenly attempt to reduce the purchase price). You've chased once that's ok just to see where you are, but I'd leave it at that for now.

2/ You've said you're in a stressful situation so don't really need folk needling you. You could click the red flag next to  that post and select "unfriendly/abrasive" as your reason for reporting. As I have done.

Exactly this.  Good advice on both counts.

I'm sorry but this happened to me many years ago and when I finally got in contact with them myself they just admitted they had spent the deposit and could no longer proceed.  I moved eventually and got nearly £10k more for the house.

Even if it does fall through, you have options, including the developer part exchanging on your new build, but obviously approach that with caution.

They now have the money but his solicitor is now deciding to raise queries again. Something they should have e asked over 2 months ago but forgot. As I stated earlier, incompetent solicitor recommended by EA so they get commission. They are now requesting that I purchase indemnity insurance for the buyer!

I didn't need to complete this soon, December/January would have suited me but being kind, I said I would move into temporary accommodation to accommodate the buyers need as he is disabled and my property is adapted.

They agreed a month ago to exchange on this date so they have had ample time to get their act together. I don't even believe ti is the buyers fault, just his solicitor.

Willis75

michael1234 said:

1/ I also get very stressed about things like that. BUT my advice is however difficult, its best to wait and chase as little as possible because if the buyer senses that you are "desperate" to move asap he might in time use that to his advantage and your disadvantage. (e.g. suddenly attempt to reduce the purchase price). You've chased once that's ok just to see where you are, but I'd leave it at that for now.

2/ You've said you're in a stressful situation so don't really need folk needling you. You could click the red flag next to  that post and select "unfriendly/abrasive" as your reason for reporting. As I have done.

Michael, 

Im not desperate to move, the buyer is.

GoogleMeNow

Willis75 said:

Reginald74 said:

michael1234 said:

1/ I also get very stressed about things like that. BUT my advice is however difficult, its best to wait and chase as little as possible because if the buyer senses that you are "desperate" to move asap he might in time use that to his advantage and your disadvantage. (e.g. suddenly attempt to reduce the purchase price). You've chased once that's ok just to see where you are, but I'd leave it at that for now.

2/ You've said you're in a stressful situation so don't really need folk needling you. You could click the red flag next to  that post and select "unfriendly/abrasive" as your reason for reporting. As I have done.

Exactly this.  Good advice on both counts.

I'm sorry but this happened to me many years ago and when I finally got in contact with them myself they just admitted they had spent the deposit and could no longer proceed.  I moved eventually and got nearly £10k more for the house.

Even if it does fall through, you have options, including the developer part exchanging on your new build, but obviously approach that with caution.

They now have the money but his solicitor is now deciding to raise queries again. Something they should have e asked over 2 months ago but forgot. As I stated earlier, incompetent solicitor recommended by EA so they get commission. They are now requesting that I purchase indemnity insurance for the buyer!

I didn't need to complete this soon, December/January would have suited me but being kind, I said I would move into temporary accommodation to accommodate the buyers need as he is disabled and my property is adapted.

They agreed a month ago to exchange on this date so they have had ample time to get their act together. I don't even believe ti is the buyers fault, just his solicitor.

Queries can be raised any time before exchange.  It doesn't mean the solicitor is incompetent, just that they've reviewed their file and realise they need something more.  Solicitors don't "forget" enquiries, but all files need to have thorough review/check before they are signed off as ready for exchange.  Bottom line is the buyer's solicitor is not ready yet.  A  sale is driven by the buyer's solicitor rather than the seller's solicitor.

When you say "they agreed a month ago to exchange on this date", who exactly are "they"?  Solicitors won't commit to a date, they will only "work towards" a date.

user1977

Willis75 said:

michael1234 said:

1/ I also get very stressed about things like that. BUT my advice is however difficult, its best to wait and chase as little as possible because if the buyer senses that you are "desperate" to move asap he might in time use that to his advantage and your disadvantage. (e.g. suddenly attempt to reduce the purchase price). You've chased once that's ok just to see where you are, but I'd leave it at that for now.

2/ You've said you're in a stressful situation so don't really need folk needling you. You could click the red flag next to  that post and select "unfriendly/abrasive" as your reason for reporting. As I have done.

Im not desperate to move, the buyer is.

So let them do the chasing of their solicitor. It's going to be more effective than you trying to do it.

Willis75

GoogleMeNow said:

Willis75 said:

Reginald74 said:

michael1234 said:

1/ I also get very stressed about things like that. BUT my advice is however difficult, its best to wait and chase as little as possible because if the buyer senses that you are "desperate" to move asap he might in time use that to his advantage and your disadvantage. (e.g. suddenly attempt to reduce the purchase price). You've chased once that's ok just to see where you are, but I'd leave it at that for now.

2/ You've said you're in a stressful situation so don't really need folk needling you. You could click the red flag next to  that post and select "unfriendly/abrasive" as your reason for reporting. As I have done.

Exactly this.  Good advice on both counts.

I'm sorry but this happened to me many years ago and when I finally got in contact with them myself they just admitted they had spent the deposit and could no longer proceed.  I moved eventually and got nearly £10k more for the house.

Even if it does fall through, you have options, including the developer part exchanging on your new build, but obviously approach that with caution.

They now have the money but his solicitor is now deciding to raise queries again. Something they should have e asked over 2 months ago but forgot. As I stated earlier, incompetent solicitor recommended by EA so they get commission. They are now requesting that I purchase indemnity insurance for the buyer!

I didn't need to complete this soon, December/January would have suited me but being kind, I said I would move into temporary accommodation to accommodate the buyers need as he is disabled and my property is adapted.

They agreed a month ago to exchange on this date so they have had ample time to get their act together. I don't even believe ti is the buyers fault, just his solicitor.

Queries can be raised any time before exchange.  It doesn't mean the solicitor is incompetent, just that they've reviewed their file and realise they need something more.  Solicitors don't "forget" enquiries, but all files need to have thorough review/check before they are signed off as ready for exchange.  Bottom line is the buyer's solicitor is not ready yet.  A  sale is driven by the buyer's solicitor rather than the seller's solicitor.

When you say "they agreed a month ago to exchange on this date", who exactly are "they"?  Solicitors won't commit to a date, they will only "work towards" a date.

"They" are the buyer and his solicitor. They said they were ready to exchange. All queries had been asked and answered. 'They' buyers solicitor were asked if there was anything outstanding and they replied, no they were ready to go.

I do think they are incompetent because apparently when they reviewed the file yesterday they realised that there was a query that they needed to ask but did not. I consider that incompetent. If my solicitor had made such an error holding up the exchange I would have considered them the same.

This exchange has been happening for nearly a week now and they only just decided to review the file at the very last moment.

eddddy

Willis75 said:

Im not desperate to move, the buyer is.

So make the buyer aware (perhaps via the estate agent) that there will be a further delay because their solicitor has raised new enquiries at a very late stage

That might have 2 benefits

• The buyer might chase their solicitor
• The buyer won't start assuming that the delays are your fault, so hopefully they won't be getting quietly exasperated with you and start thinking about "teaching you a lesson" by walking away, etc.

• (And it might be a useful hint to the estate agent that using their 'recommended' solicitor slows sales down which delays them getting their commission - and it exasperates buyers and sellers which might result in sales falling through.)

TBH, this is the sort of 'sales progression' that a good estate agent should be doing anyway - they should be liaising with buyers and sellers to find out progress, and encouraging both sides to keep things moving.

Willis75

eddddy said:

Willis75 said:

Im not desperate to move, the buyer is.

So make the buyer aware (perhaps via the estate agent) that there will be a further delay because their solicitor has raised new enquiries at a very late stage

That might have 2 benefits

• The buyer might chase their solicitor
• The buyer won't start assuming that the delays are your fault, so hopefully they won't be getting quietly exasperated with you and start thinking about "teaching you a lesson" by walking away, etc.

• (And it might be a useful hint to the estate agent that using their 'recommended' solicitor slows sales down which delays them getting their commission - and it exasperates buyers and sellers which might result in sales falling through.)

TBH, this is the sort of 'sales progression' that a good estate agent should be doing anyway - they should be liaising with buyers and sellers to find out progress, and encouraging both sides to keep things moving.

Eddddy, you would think so.

My EA, once they had the sale - which I could have done myself just by putting a Sale Board outside, where totally useless. They were supposed to liaise constantly with both parties and solicitors and give me weekly updates. Sold in June and only once have I had an update which came after I complained.

Once I had a buyer which was the day property went on the market (with numerous offers) I had to ask them to remove the sale board as people were constantly knocking on my door to see if sale was going through, and could they gazump. I have a bungalow in an area where they are very scarce and there are queues of potential buyers fighting over them.

I am at the point where I really don't care whether sale falls through or not. The buyers solicitor have been a nightmare to deal with from the point of view of my solicitor as well as the queries they have sent for me to deal with asking the same questions over and over again when they have had the same answer numerous times.

TripleH

We had a buyer offer in February for our flat. We were duevto exchange last week of May and a week before their solicitor said they needed the boiler service history records in order to proceed further.

We were 200 miles away and this was lockdown 1. We ended up driving there and back in a day (picking up our remaining bits and pieces from the flat).

We had deliberately left the service history in the flat because that's where it belonged. Sadly people don't think of every question and query up front hence why we have issues such as the Op's.