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slow progress on house sale

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  • Mickygg
    Mickygg Posts: 1,737 Forumite
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    Put back on the market. Things haven't progressed in 6 weeks, just imagine how long things could take moving forward.

    They are stalling for a reason, whether it's mortgage, looking at other properties, putting a bigger deposit together etc you may never know.
  • dunroving
    dunroving Posts: 1,881 Forumite
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    Every situation is different, but here is my take on the information you've provided so far.

    Accepting a 22.5% reduction in asking price is a big concession (unless the house was over-valued by the EA, which of course is common).

    If the survey reveals anything like the "typical" house issues, don't even entertain any attempts to negotiate on price - tell the buyers they have a great deal and don't be so bloody cheeky.

    I'd be instructing your solicitor to give them (via their solicitor) a clear steer that if things aren't moving on by date X, you will relist the house. Under the circumstances of the sale, you need a good solicitor to make sure the communications are going back and forth.

    It baffles me why solicitors supposedly can't get responses from each other. What is so unique about them that they can't pick up a phone? Sometimes clients expect daily updates when nothing much is happening, but in your case I'd be very clear with your solicitor what you want to happen and that you expect a response. I even asked my solicitor to send me the relevant emails so I could s e what the buyer's solicitor was saying.
    (Nearly) dunroving
  • TamsinC
    TamsinC Posts: 625 Forumite
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    Bass_9 wrote: »
    I think 6 weeks is incredibly slow to get a survey done. Usually you can upgrade a valuation to a survey with your lender so it's quite unusual to get it done separately.

    Plus, I doubt the solicitors have done anything (let alone draft contracts) if the searches haven't even been requested.

    Does make you wonder whether the mortgage was actually in place as OP was told.
    Really does depend on the type of survey - we are getting a historic buildings specialist survey - a five and 1/2 week run in. Sometimes these things aren't deliberate but the best you can do.
    “Isn't this enough? Just this world? Just this beautiful, complex
    Wonderfully unfathomable, natural world” Tim Minchin
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Put the property back on the market. Buyers appear to be stalling for time for some reason. The threat might well focus their attention.
  • victoriavictorious
    victoriavictorious Posts: 358 Forumite
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    Mickygg wrote: »
    Put back on the market. Things haven't progressed in 6 weeks, just imagine how long things could take moving forward.

    They are stalling for a reason    , whether it's mortgage, looking at other properties, putting a bigger deposit together etc you may never know.

    This^^.
    Reminds me of our so-called "FTBs" a few years ago who were dragging their feet and who actually turned out to have lost their own buyers for the flat they were selling - through the same agent as we were selling through, and who had kept that little nugget from us!
    A bit extreme and unusual, but goes to show that you just never know what's really going on half the time. The whole process consists of smoke, mirrors, quite a few lies and brings out the very worst in everyone.
    And why is their solicitor refusing to do any work before the searches have been paid for? Ours did everything *up to* the search stage, and only then asked for the go-ahead to carry them out, plus the fee.
    I think it's time for your EA to start doing their job and put rockets up backsides, whilst advising your tardy buyers that you are on the point of remarketing.
  • glentoran99
    glentoran99 Posts: 5,821 Forumite
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    If its any conciliation we agreed our sale and purchase in may, we were selling to a buy to let landlord, we didn't complete until september
  • glentoran99
    glentoran99 Posts: 5,821 Forumite
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    I find it strange that the solicitor wants the money for searches up front too, We paid our whole bill at the end
  • steampowered
    steampowered Posts: 6,176 Forumite
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    Squoozy wrote: »
    I’m annoyed we accepted their offer.

    At the moment you haven't accepted anything.

    You are not legally or morally required to proceed with this buyer.

    It isn't like your buyer has spent much money yet - they haven't even had their mortgage survey or paid their solicitor £300 or so for searches yet!

    If you are not happy with the price, you should put the house back on the market and seek a higher offer.
  • kirtondm
    kirtondm Posts: 436 Forumite
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    not that strange we had to pay some money on account.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    glentoran99 wrote: »
    I find it strange that the solicitor wants the money for searches up front too, We paid our whole bill at the end

    Searches are disbursements not fees. Therefore are paid out of client funds not the solicitors.
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