FTB Purchase Nightmare - 3-month Stalled Chain

ElectricJungle889

MultiFuelBurner said:

Sometimes a bit of pressure helps. It might be worth advising the estate agents /solicitors you are considering walking away as it's taking too long.

See what rattling the tree does.

Definitely, considering we're nearly 4 months along with no completed chain... 

ElectricJungle889

Just a little update 2 weeks down the line - Still no movement on the chain and it still isn't completed.

We're now 8 weeks away from our mortgage expiry. Ultimately either the top of the chain needs to be able to break the chain/find a property in the next few days or another party needs to break the chain.

It's frustrating as I think all the conveyancing is completed from all 3 parties, but the top of the chain has held this up.

Gut feeling isn't good however...

HampshireH

ElectricJungle889 said:

Just a little update 2 weeks down the line - Still no movement on the chain and it still isn't completed.

We're now 8 weeks away from our mortgage expiry. Ultimately either the top of the chain needs to be able to break the chain/find a property in the next few days or another party needs to break the chain.

It's frustrating as I think all the conveyancing is completed from all 3 parties, but the top of the chain has held this up.

Gut feeling isn't good however...

Have you been looking elsewhere?

Book some viewings make it glaringly obvious to the agent you're still looking.

tealady

Agree with HampshireH.
Go to your sellers EA and book viewings for other properties
Also when you go in make sure you have a handful of property details from other EAs
Also contact your lenders and ask for an extension on the mortgage deal. 
Ask for the world and you might get a garden. Ask for nowt and that's precisely what you'll get.

pinkteapot

Tell the EA your offer stands and you're happy to proceed if the chain forms, but you will now start viewing other properties and if you find one in a proceedable position then you'll be pulling out. 

Then start doing exactly that! If you get viewings with the vendor rather than the EA, quiz them on what their plans are and try to gauge how serious they sound about moving, whether it sounds like they've genuinely found somewhere, etc. People will lie to your face, but you're more likely to may get an inkling of whether that's the case from the vendor if they're not the best liar. EAs are professional bull-poopers.

There's not point simply throwing a strop and pulling out if you haven't actually found a house you like that's ready to go. But if you find somewhere, go for it and don't look back!

I've bought and sold many times and thankfully never had this happen. I know it's common, but I still think you've been hideously unlucky to have it happen three times.

newsgroupmonkey_

ElectricJungle889 said:

Well this is the thing, we're over 3 months along and don't even have a completed chain at the moment as the top of the chain have dragged their feet for now 6 weeks...

We were middle of a no-ties chain.

Vendor was a FTB ready to go with a month's notice. Seller was moving to an already purchased narrowboat.

Took 5 months.

So I wouldn't worry too much.

Although the person at the top may not be buying, depending on their circumstances, they might still be waiting for something to happen.

ashleyj722

Try and target a probate sale so that you don’t have any issues with buying rather than joining a chain.

Tiglet2

ashleyj722 said:

Try and target a probate sale so that you don’t have any issues with buying rather than joining a chain.

Note for OP:  Provided probate has been granted, or at least find out when it was applied for.  The probate office won't accept any chasing of the probate for 16 weeks.

MultiFuelBurner

We did buy a property that was part exchanged to Barratt homes a few houses back. 

We had tried to buy it for £315k it was up for £330k from the owner before they part exchanged but it wasn't accepted and then it went off sale.

Came back on 3 weeks later for £295k and we offered cash offer complete in 4 weeks £275k.

My advice find a part exchanged home.

Flugelhorn

@ElectricJungle889 you need to look elsewhere if time is really that tight - the people at the top of the chain are only TOP for the time being, they may find a house they like fairly soon  and guess what? the people in that house then have to find somewhere to move to.