Buyer is a company - Conveyancing taking ages!

Bidds10

Hi All, 

we’re currently in the process of moving house, the house we are buying is empty and our buyers are a company buying as a buy to let. Everything has been pretty seamless up to now, but since the enquiries stage - our buyer has slowed right down. 

From our side we are ready to go, ready to exchange - but for weeks now we have been waiting on our buyer to close enquiries (we have replied) and sign the contract. Every time I chase I get told they are still reviewing the searches and will be in touch. It’s been 3 weeks now since we have replied to enquiries. 

Can I do anything else to push this along? I feel like I’m getting fobbed off when i ask for updates. I’m chasing my solicitor and our estate agent daily but it feels like I’m talking to a wall. ☹️

user1977

Did your agent check how the buyers were going to finance it? I would have thought the most likely reason for them slowing things down is because they're waiting for a sale or a loan offer.

Bidds10

It said mortgage via the memorandum. The agent has kept us upto date while they were getting their mortgage offer as they sorted it through them. It seems since the searches it’s really slowed down and feels like no progress has been made for weeks now. 

This is now week 10 since our offer was accepted. I know it’s still early - but I thought the whole process would have been a lot quicker than this considering we’re chain free(ish) just wondered if anyone has had any experience with a company buying their house? 

user1977

Commercial lending often means the bank is separately represented, so that can slow things down if there are two firms of solicitors on "their" side. But there shouldn't be radio silence as to what's going on.