Buyer's solicitors delaying the exchange!!!

Panda126

Buyer’s solicitors keep delaying the exchange !

We were supposed to exchange on Friday, they said they will aim to exchange that day but they can’t promise anything…at the end of the day they said they will wait for their ‘main’ solicitor to exchange on Monday but 100% they will exchange that day. On Monday they said they will exchange but they didn’t (apparently they were reviewing the files – but they should be ready on Friday!!!) and reassured us the exchange will happen Tuesday. Now they said it won’t happen today without any reason.

Everything is ready, buyers are ready, deposit sent, contracts signed.

It’s only the buyers (FTB) us and the developer that is waiting for us to exchange.

And we are 5 days away from completion!

Is this normal ?!

penners324

Yes, always random things that delay exchange 

Alter_ego

You are not 5 days from completion. Completion is only confirmed at exchange. Before exchange anyone can change their mind

1616six

Alter_ego said:

You are not 5 days from completion. Completion is only agreed at exchange

Not strictly true, it can be agreed at any point - it is confirmed officially at exchange.

It’s obvious what the OP means, they have agreed to complete on X date and are awaiting exchange.

Panda126

Yes, both us and the buyers agreed to complete on 1st of December
They keep saying they're reviewing something or that it is in progress.
There is a complete lack of communication with them.

housebuyer143

Very normal. You will probably end up doing both on the 1st.

Surrey_EA

housebuyer143 said:

Very normal. You will probably end up doing both on the 1st.

I am strongly against simultaneous exchange/completion on anything other than a buyer purchasing an empty house.
It seems madness to be part of a chain, even a small one such as this, and pack your whole house up into a van in the hope everything goes to plan.
Much better to have a couple of weeks.

trevormax

Can you speak to the buyers and ask them to light a fire under their solicitors !!!!!!, or at least see if they can find out the reason for the delays?

kirtondm

Almost certainly the buyers are asking their solicitor to delay for some currently unfathomable to you reason. I would most likely be looking at completing mid December now.

juliebunny

In a similar situation myself and I feel your pain. My buyer is an investor and so dealing with 2 solicitors (one for mortgage) who don't seem to communicate with each other...let alone my solicitor. Supposed to move on 5th but still no word regarding exchange. Its extremely frustrating. 

juliebunny

kirtondm said:

Almost certainly the buyers are asking their solicitor to delay for some currently unfathomable to you reason. I would most likely be looking at completing mid December now.

Yes this definitely happens. My sellers went quiet for weeks and weeks. Eventually transpired they were locked into a mortgage until December and so stalling to avoid paying penalties. 
Karma now that my buyer is holding it up but I'm stuck in the middle of them both with the clock ticking on my mortgage offer.