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  • FIRST POST
    • creditscoremeansnothing
    • By creditscoremeansnothing 4th Jan 18, 3:38 PM
    • 37Posts
    • 24Thanks
    creditscoremeansnothing
    Vendor dragging their feet!
    • #1
    • 4th Jan 18, 3:38 PM
    Vendor dragging their feet! 4th Jan 18 at 3:38 PM
    Hi All
    I am Buying a housetop let out and am getting sick of the vendors dragging their feet with everything they do. My solicitors are very quick and sent off Additional enquiries on the 4th December. As of Xmas close down they still had not received them back and their solicitors said they are still waiting for them to respond. I called the EA and they started to chase also.

    Sols reopened 2nd Jan and I called to say that if they are not back with their enquiries by Friday I would pull out. They have now come back yesterday but according to my sol they are very sloppy replies and we need clarification on 4 issues, so the whole process starts again and I am sure they will continue to drag their feet. As a premptive measure I called the EA to advise them to hurry up with these other queries as I'm keen to exchange and complete as I have builder standing by to start work. They advised me that the vendors would like to ask "for a bit of time" between exchange and completion to move on, I think they are moving in with family.

    My main question is if we exchange and set a completion date for lets say 1 week later what will happen if they say they still need more time, have I lost my bargaining power in the fact that I can't pull out of the sale then or at least threaten to or is the completion date set in stone when you exchange.
Page 2
    • cjmillsnun
    • By cjmillsnun 6th Jan 18, 12:24 AM
    • 602 Posts
    • 734 Thanks
    cjmillsnun
    20th of October? so not even three months?

    I first offered on a House in February last year and completed in August.
    • glentoran99
    • By glentoran99 6th Jan 18, 10:57 PM
    • 5,346 Posts
    • 4,532 Thanks
    glentoran99
    Thanks to the majority of people for their helpful replies....

    Who said 4 weeks.... i never.

    I offered on the house on the 20th October and the vendors where keen to sell as it failed to sell the previous week at auction. If it did sell at auction they would only have had 28 days so i fail to see how im being unreasonable. When i offered we agreed we both would like it done for xmas and thought this was reasonable as there is no chain, they are moving in with family to raise more funds for a deposit on new home and at the time couldn't be nice enough to me considering it failed to sell previously.

    Initially i was to purchase the property outright as it is not very expensive (in housing terms) so i instructed solicitors early November. I then decided to arrange a small mortgage on the property if it could be done quick enough and it was (as per my other post), so no hold ups.

    My Sols got the initial paperwork and started searches and it was on the 4th Dec they had a few enquiries, so the 4 weeks is not to purchase the house but the amount of time it has taken the vendors to reply with the queries which i think is too long. When i arranged the survey i got a call saying the vendors can't let them in for 2 weeks.

    I asked the vendors could i send a builder around the house to see what he needs late November and to quote me for it, we agreed a price and agreed he could "possibly" start early Jan as we both wanted it completed by Xmas, the builder is a family friend and it is his least busy time in Jan so I do have him on stand by to start but agree that even if i didn't i would still say this.

    This time scale seems a long time for a no chain house purchase especially when at first they was as keen as me to complete by Xmas and where prepared to sell for a quick auction sale.
    Originally posted by creditscoremeansnothing
    So your offer was accepted as a cash buyer, then changed your mind and needed a mortgage, is that not messing vendors around a bit too?

    Threatening to pull out at every slight delay isnít going to speed anything up
    • creditscoremeansnothing
    • By creditscoremeansnothing 7th Jan 18, 12:27 PM
    • 37 Posts
    • 24 Thanks
    creditscoremeansnothing
    So your offer was accepted as a cash buyer, then changed your mind and needed a mortgage, is that not messing vendors around a bit too?

    Threatening to pull out at every slight delay isnít going to speed anything up
    Originally posted by glentoran99
    What planet are you on? READ the whole post before you make stupid comments.;

    I didn't change my mind, i have cash set aside to buy the house, i said if it would not delay things then i would like to take out a small mortgage on the house. The process including searches and things had already begun and like my other post said the mortgage was approved very quickly and the solicitor was advised not to wait for the mortgage if this was to hold things up. How is that messing them about?

    I have threatened to pull out ONCE not every single delay, this was because nearly 4 weeks to get replies back to some rather basic questions is too long considering they wanted a pre xmas completion.
    • Margot123
    • By Margot123 7th Jan 18, 12:56 PM
    • 853 Posts
    • 879 Thanks
    Margot123
    I understand your frustration OP, with it being a purchase as a buy to let. Time is indeed money.
    • creditscoremeansnothing
    • By creditscoremeansnothing 7th Jan 18, 1:15 PM
    • 37 Posts
    • 24 Thanks
    creditscoremeansnothing
    I understand your frustration OP, with it being a purchase as a buy to let. Time is indeed money.
    Originally posted by Margot123
    Exactly

    If your attempt at sarcasm is aimed at making me feel guilty for trying to make an investment then good for you if it makes you feel better.
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