General Chat, Products & Comps <
09/04/2014 at 14:37
So no exchange of contracts today and 99% certain we aren't moving on the 15th and quite frankly it is looking like now that the entire sale may fall through.
To say I am pig sick is putting it mildly. If it falls through I will also ahve lost thousands of pounds in solicitors fees.
09/04/2014 at 14:40
QI it shouldn't be thousands in solisters fees or at least I would hope not. A lot of the fees are todo with the later part of the process and so if you haven't exchanged I suspect it would be less than half what you would have to pay if you complete. What makes you think it will fall through? It may be salvageble just depends on what the problem is and if they still want to buy etc. I think one of the biggest problems in the whole process is when buyers or sellers for that matter are not 100% honest., i.e. saying they haven't got anywhere to sell when they have or they have a mortgage and they haven't. Or a seller saying they haven't got anywhere to move to etc. The next problem is whether both sets of solisters are efficient or not.
09/04/2014 at 14:42
Oh QI that's pant's what's holding it up?
09/04/2014 at 14:43
Oh $hit. I've been hoping all goes fine. What's the score? Who's done what? Who can influence things for you? x
09/04/2014 at 15:29
The house that I am buying... their solicitor has been slow all the way along and it turns out that on their purchase there is an outstanding detail about a management compnay and they need to speak to the solicitor of that management company except he has left and can't be traced. Are you still with me? Well until that is resolved they can't move. After I spoke my solicitor I was really worried
I spoke to my estate agent who reminded me that I had said to the people I was selling to that I would be willing to move into rented property and I said yes I had said I would do that if they gave me the askign price not £25k under (although eventually agreed slightly higher) I wasn't going to move into rented for even less money.
So I went back to my solicitor and said is there any chance the people of the house I am buying would be willing to move into rented as it is their purchase that is holding things up. I await responses.
WF - we are at the final hurdle so yes it will be a lot of money I lose. Plus I've no idea how I market the house again with hardly any furniture and everything packed in boxes....
09/04/2014 at 15:44
That's rubbish and I HATE when agents pull that 'you said you'd move out' crap.
Is it worth planting a seed with the agent that if the buyers covered, say, 2 months rent you would look in to moving out to enable the sale? Or something along those lines?
Regarding the management company - what's the issue? Can you contact them direct? Is your solicitor being assertive and do they come back to you rapidly? I've had to be the driving force between several tricky sales/purchases and it's amazing how the stories get distorted along the chain and how much a noisy person can achieve versus a laid-back solicitor :)
Wishing you loads of luck!!
09/04/2014 at 15:52
09/04/2014 at 19:22
Oh no QI that sounds so stressful. I would really try to still sell your house even if the one you are buying falls through as you have been trying to sell your house for quite a while so you don't want to start that again. Maybe even start looking at other options for houses whilst you wait to see what happens with the one you're supposed to be buying? I'm so sorry you have to put up with all this crap!
09/04/2014 at 19:29
Oh it won't be me that pulls out I am worried it would be the people buying my house that would pull out. I'm too stubborn to give up!
09/04/2014 at 21:35
Fingers crossed things keep moving. There must be someone else at the management company who can be contacted. Keep pushing the estate agent for the people you are buying from as it is in their interest to keep the sale in place.
09/04/2014 at 21:36
I've been the person holding things up due to an AWOL managing agent and it was a nightmare. In my case, I knew the management company were shady as they didn't do anything but I suddenly got a letter saying they were no longer managing the property during the sale process but the freeholder didn't have any accounts. It held things up for a long while but I was lucky as I wasn't in a chain-it was just frustrating as my solicitor would send a letter, nobody would reply, the other side would be told, more letters sent....yawn yawn. Based on my experience, I would push for the other side to move into a rental property so that you don't lose your sale.
Fingers crossed for you x
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