I am on the verge of backing out of a property sale. What are my options? [Merged]

raptor2004

To add, I made it clear to the EA that I wanted to exchange asap. Both parties are chain free.

Are the vendors trying to buy more time? My circustances will change if we cannot complete by November at the latest this year

our_des

You seem to be having a lot of difficulty with this property purchase based on your previous threads. Did you ever settle on the things you wanted to keep from the house or the cars or the non working gates?

raptor2004

DE_612183 said:

probably depends on your buyers - perhaps they are still getting their mortgage sorted, or in the process of selling their house.

Do you know if there is a chain?

It is all chain free

raptor2004

our_des said:

You seem to be having a lot of difficulty with this property purchase based on your previous threads. Did you ever settle on the things you wanted to keep from the house or the cars or the non working gates?

only outstanding issue are the gates and still haven't heard a response.

Liz1966

After Grant of Probate has been given there is a 6 month period during which the Will can be challenged and/or any creditors can come forward and claim they are owed money. The executors may be waiting until the end of that time before they finalise the house sale. 

raptor2004

Liz1966 said:

After Grant of Probate has been given there is a 6 month period during which the Will can be challenged and/or any creditors can come forward and claim they are owed money. The executors may be waiting until the end of that time before they finalise the house sale. 

Thank for that. 

Is there a way my solicitor can find out where they are in the process?

user1977

raptor2004 said:

Liz1966 said:

After Grant of Probate has been given there is a 6 month period during which the Will can be challenged and/or any creditors can come forward and claim they are owed money. The executors may be waiting until the end of that time before they finalise the house sale. 

Is there a way my solicitor can find out where they are in the process?

Yes, they ask the other solicitor.

raptor2004

Liz1966 said:

After Grant of Probate has been given there is a 6 month period during which the Will can be challenged and/or any creditors can come forward and claim they are owed money. The executors may be waiting until the end of that time before they finalise the house sale. 

Can it be longer than 6 months or are you saying 6 months is the average wait time?

user1977

Liz1966 said:

After Grant of Probate has been given there is a 6 month period during which the Will can be challenged and/or any creditors can come forward and claim they are owed money. The executors may be waiting until the end of that time before they finalise the house sale. 

It might be a reason for an (unusually paranoid) executor from delaying distribution of the sale proceeds, but why would they delay completing the sale? If anything it's only likely to be against the estate's interests to have a property sitting empty for months longer than necessary.

EssexHebridean

In fairness it doesn’t sound much like anyone is delaying anything - offer accepted early august, solicitors appointed mid august, it’s now early October so only a couple of months in. Probate properties can take a bit longer when it comes to enquiries, too. 

A look at the OP’s posting history sheds more light here. Not least the fact that allegedly as recently as mid September they were still wrangling over fixtures, fittings and assorted other bits.