Discussion
Son is in the process of buying his first house. His offer was accepted in March and he paid a little extra for a solicitor that advertised “normally exchange within 90 days”. He’s in the forces and has one week left of his summer leave and getting worried as he will attend a course for the next three months making getting back impossible. He will only have weekends available but that would also mean a 12 hour round trip. Unfortunately the course he’s attending is to allow him to teach in Cyprus for 6 months on completion, so in reality he will be unavailable for 9 months.
He’s now having serious thoughts on pulling out as even if he completes next week (absolutely no news) he will have a house sat empty for the next 9 months. We’ve tried putting pressure on the solicitors but all to no avail and normally end up with a one line E mail saying their waiting on something or other, or, due to COVID etc. Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
He’s now having serious thoughts on pulling out as even if he completes next week (absolutely no news) he will have a house sat empty for the next 9 months. We’ve tried putting pressure on the solicitors but all to no avail and normally end up with a one line E mail saying their waiting on something or other, or, due to COVID etc. Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
tony wright said:
Son is in the process of buying his first house. His offer was accepted in March and he paid a little extra for a solicitor that advertised “normally exchange within 90 days”. He’s in the forces and has one week left of his summer leave and getting worried as he will attend a course for the next three months making getting back impossible. He will only have weekends available but that would also mean a 12 hour round trip. Unfortunately the course he’s attending is to allow him to teach in Cyprus for 6 months on completion, so in reality he will be unavailable for 9 months.
He’s now having serious thoughts on pulling out as even if he completes next week (absolutely no news) he will have a house sat empty for the next 9 months. We’ve tried putting pressure on the solicitors but all to no avail and normally end up with a one line E mail saying their waiting on something or other, or, due to COVID etc. Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
Do you think he would also pay the sellers costs they have accrued so far if it comes to it?He’s now having serious thoughts on pulling out as even if he completes next week (absolutely no news) he will have a house sat empty for the next 9 months. We’ve tried putting pressure on the solicitors but all to no avail and normally end up with a one line E mail saying their waiting on something or other, or, due to COVID etc. Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
If he is in England or Wales and contracts have not been exchanged (it sounds as if they haven't) then he is free to walk away. He bears his costs and the vendor bears theirs.
He should bear in mind that, if he walks away from a purchase now, he is very likely to miss out on the Govt's stamp duty relief, which comes to an end on 1st October.
He should bear in mind that, if he walks away from a purchase now, he is very likely to miss out on the Govt's stamp duty relief, which comes to an end on 1st October.
tony wright said:
Son is in the process of buying his first house. His offer was accepted in March and he paid a little extra for a solicitor that advertised “normally exchange within 90 days”. He’s in the forces and has one week left of his summer leave and getting worried as he will attend a course for the next three months making getting back impossible. He will only have weekends available but that would also mean a 12 hour round trip. Unfortunately the course he’s attending is to allow him to teach in Cyprus for 6 months on completion, so in reality he will be unavailable for 9 months.
He’s now having serious thoughts on pulling out as even if he completes next week (absolutely no news) he will have a house sat empty for the next 9 months. We’ve tried putting pressure on the solicitors but all to no avail and normally end up with a one line E mail saying their waiting on something or other, or, due to COVID etc. Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
Have you rang or just emailed? We were on a tight moving deadline and talked to our solicitor most days. They can't fob you off if you talk to them.He’s now having serious thoughts on pulling out as even if he completes next week (absolutely no news) he will have a house sat empty for the next 9 months. We’ve tried putting pressure on the solicitors but all to no avail and normally end up with a one line E mail saying their waiting on something or other, or, due to COVID etc. Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
House was £150k so no issues with stamp duty. I appreciate the sellers position, but not sure of their costs or position as there’s been no contact. The whole episode has been terrible, specifically on the solicitors side due to contact and passage of information. Obviously if things had gone as suggested by solicitor he would of moved in a couple of months ago and at least had the luxury of living in it over the summer. Now it’s looking like he will have to pay the next nine months of a mortgage, council tax and energy bills whilst the house sits empty. Talking of bills, worse part will be paying the solicitor after the way things have gone as he blames them for the delays.
fuzzyyo said:
Have you rang or just emailed? We were on a tight moving deadline and talked to our solicitor most days. They can't fob you off if you talk to them.
Yes, but told things like, this, that and the other have happened and waiting on this etc, then nothing for a fortnight until he rings back to get the same repeat performance.tony wright said:
Son is in the process of buying his first house. His offer was accepted in March and he paid a little extra for a solicitor that advertised “normally exchange within 90 days”. He’s in the forces and has one week left of his summer leave and getting worried as he will attend a course for the next three months making getting back impossible. He will only have weekends available but that would also mean a 12 hour round trip. Unfortunately the course he’s attending is to allow him to teach in Cyprus for 6 months on completion, so in reality he will be unavailable for 9 months.
He’s now having serious thoughts on pulling out as even if he completes next week (absolutely no news) he will have a house sat empty for the next 9 months. We’ve tried putting pressure on the solicitors but all to no avail and normally end up with a one line E mail saying their waiting on something or other, or, due to COVID etc. Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
Identical situation to a friend of mine and his son!!! LOL He’s now having serious thoughts on pulling out as even if he completes next week (absolutely no news) he will have a house sat empty for the next 9 months. We’ve tried putting pressure on the solicitors but all to no avail and normally end up with a one line E mail saying their waiting on something or other, or, due to COVID etc. Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
His son has been waiting ages now to complete on a place and he's got a week left before having to go back to base and then he's on a course for several weeks. They were hoping to have completed and got him moved a week or two back.
But it seems like job sharing and Covid are the common excuses for not getting the work done. In my friends case the place being bought is empty, there is nothing to hold things up other than the solicitors!
We moved house in March this year, and rapidly discovered that the chain moves at the pace of the slowest conveyancer!
We paid a premium for a friendly, local firm of Solicitors with a reputation of 'keeping on top of things', but someone two steps below us in the chain had chosen an 'internet only' conveyancer who proved time and again to be useless and borderline incompetent.
If your son walks away, he only has his own costs to worry about if exchange of contracts has not taken place (as already mentioned), that's the case in England - Scotland may differ.
We paid a premium for a friendly, local firm of Solicitors with a reputation of 'keeping on top of things', but someone two steps below us in the chain had chosen an 'internet only' conveyancer who proved time and again to be useless and borderline incompetent.
If your son walks away, he only has his own costs to worry about if exchange of contracts has not taken place (as already mentioned), that's the case in England - Scotland may differ.
This is what agents/solicitors charge silly amounts of money for and rarely deliver. I have been involved in 2 house purchases recently that have taken far longer than needed because the professional's cant be arsed. If I am ever involved again I will insist on having the personal contact details of all in the chain and personally make it happen at a pace that suits me.
tony wright said:
Anyway the question is, if he was to pull out now what are the financial implications? Presently all he’s paid is £250 for the local searches. Chances are it won’t happen as he loves the house but trying to cover all bases.
Will he not lose survey fees or were they not necessary. Seems strange to be this far and not done/arranged if on a mortgage.Dixy said:
This is what agents/solicitors charge silly amounts of money for and rarely deliver. I have been involved in 2 house purchases recently that have taken far longer than needed because the professional's cant be arsed. If I am ever involved again I will insist on having the personal contact details of all in the chain and personally make it happen at a pace that suits me.
This happened to me the last time I moved but that was more than a decade ago. There were four in the chain and we were all with the same agent. The partner sent one of his agents as full-time dedicated to getting hold of all the solicitors, going to them one at a time, and delivery each set of documents to each buyer/vendor by hand.He was a busy boy that day being a delivery man.
shed have being ringing everyday from the second week, house sales can be done in a week if they're motivated enough.
all they're interested in once you've signed is chasing the next deal. you need to hassle them. daily.
keep the house, he cld prob get it and flip it for £170 at the moment
all they're interested in once you've signed is chasing the next deal. you need to hassle them. daily.
keep the house, he cld prob get it and flip it for £170 at the moment
It is worth talking to estate agent as well, they can get updates direct from the buyer rather having to go through your solicitor.
We have been trying to get a property sold since March (not to the OP) when we accepted an offer, we are so close to just binning the buyer in absolute frustration!!!
Some solicitors don't appear to understand timescales so you need to keep talking to them, he who shouts loudest, etc. If you go silent it feels like you end up bottom of the pile.
We have been trying to get a property sold since March (not to the OP) when we accepted an offer, we are so close to just binning the buyer in absolute frustration!!!
Some solicitors don't appear to understand timescales so you need to keep talking to them, he who shouts loudest, etc. If you go silent it feels like you end up bottom of the pile.
tony wright said:
Chances are it won’t happen as he loves the house but trying to cover all bases.
If he's not likely to be able to find similar in 9/12/whatever months and genuinely loves it then hang on in there.If it's nothing special (and given the nature of his profession and how mobile he could be) then walk away, but do so in the knowledge the chances are it will cost him more to get into the ladder in future.
Dixy said:
This is what agents/solicitors charge silly amounts of money for and rarely deliver. I have been involved in 2 house purchases recently that have taken far longer than needed because the professional's cant be arsed. If I am ever involved again I will insist on having the personal contact details of all in the chain and personally make it happen at a pace that suits me.
Unless you were a direct buyer or seller to me, you’d be told where to go. I pay solicitors to deal with this, I don’t want some random impatient chap ringing at 9pm because searches are a day or two late!
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