Delay in exchange

Den1970

I am 11 weeks on from receiving an offer for a property I inherited. The buyer is selling their property for cash which will then constitute a 50% deposit on my property and the balance will be funded by a mortgage. I have been advised that the buyer is still several weeks from exchanging although their queries were answered over a month ago. They have now supplied a list of further queries (some of which have already been answered) and disappointingly asked for some kitchen appliances to be removed which they requested to stay in May. I'm starting to get a bad feeling, do you think I am overreacting? I feel reluctant to remove the appliances which are in working order whilst I feel this sale may fall through, my house clearance is due next week.. 

eddddy

Den1970 said:

I feel reluctant to remove the appliances which are in working order whilst I feel this sale may fall through, my house clearance is due next week.. 

The typical solution would be to have the kitchen appliances removed between exchange and completion.

Once they've exchanged contracts, the sale can't really fall through.

If the sale falls through before exchange, you'll still have the appliances.

It might mean the house clearance company, have to make a second visit - unless you delay the entire house clearance until after exchange of contracts.

Den1970 said:

The buyer is selling their property for cash which will then constitute a 50% deposit on my property and the balance will be funded by a mortgage. 

FWIW - just about everyone sells their property for cash. Sometimes part of that cash comes from a mortgage lender. I guess  you mean your buyer's buyer is buying without a mortgage.

Den1970

eddddy said:

Den1970 said:

I feel reluctant to remove the appliances which are in working order whilst I feel this sale may fall through, my house clearance is due next week.. 

The typical solution would be to have the kitchen appliances removed between exchange and completion.

Once they've exchanged contracts, the sale can't really fall through.

If the sale falls through before exchange, you'll still have the appliances.

Den1970 said:

The buyer is selling their property for cash which will then constitute a 50% deposit on my property and the balance will be funded by a mortgage. 

FWIW - just about everyone sells their property for cash. Sometimes part of that cash comes from a mortgage lender. I guess  you mean your buyer's buyer is buying without a mortgage.

Thank you for your reply. Yes you are correct in your description of the "cash" sale as my understanding is no mortgage is involved. I think I will take your advice and wait to exchange. 

Den1970

eddddy said:

Den1970 said:

I feel reluctant to remove the appliances which are in working order whilst I feel this sale may fall through, my house clearance is due next week.. 

The typical solution would be to have the kitchen appliances removed between exchange and completion.

Once they've exchanged contracts, the sale can't really fall through.

If the sale falls through before exchange, you'll still have the appliances.

Den1970 said:

The buyer is selling their property for cash which will then constitute a 50% deposit on my property and the balance will be funded by a mortgage. 

FWIW - just about everyone sells their property for cash. Sometimes part of that cash comes from a mortgage lender. I guess  you mean your buyer's buyer is buying without a mortgage.

Thank you for your reply. Yes you are correct in your description of the "cash" sale as my understanding is no mortgage is involved. I think I will take your advice and wait to exchange. 

hpsauce86

11 weeks isn’t that long of a wait at the moment honestly!