Long time for a house sale
Discussion
I accepted an offer on my late fathers house on 18 th March, things have been going pretty slowly but Monday I was asked about a completion date of 21 st July to which I agreed. Today they have now said they want 21st August which is nuts to me but I just wondered does anyone else think this is a long time?
No house I have ever sold before has taken this long, solicitors are not much help information wise.
Im led to believe 4 to 6 months is the norm these days?
No house I have ever sold before has taken this long, solicitors are not much help information wise.
Im led to believe 4 to 6 months is the norm these days?
Exchange and non refundable deposit is the way to go (albeit a lot of 'professionals' seem against the deposit).
That way, they are showing a level of commitment that the deal is going through in light of their recent request for an extension at the last minute, which is causing you concern
That way, they are showing a level of commitment that the deal is going through in light of their recent request for an extension at the last minute, which is causing you concern
TBH, we are in the opposite position to you.
We are (in a chain of 4) buying a house from an executor.
They suggested a date which we then said no to based on the fact tha there are 4 families to trying to find a date here, they are just waiting for a big fat cheque & have the least concerns to satisfy.
We are (in a chain of 4) buying a house from an executor.
They suggested a date which we then said no to based on the fact tha there are 4 families to trying to find a date here, they are just waiting for a big fat cheque & have the least concerns to satisfy.
Hobo said:
Exchange and non refundable deposit is the way to go (albeit a lot of 'professionals' seem against the deposit).
That way, they are showing a level of commitment that the deal is going through in light of their recent request for an extension at the last minute, which is causing you concern
+1 ... tell me to exchange or go awayThat way, they are showing a level of commitment that the deal is going through in light of their recent request for an extension at the last minute, which is causing you concern
4-6 months seems to be the usual these days. Two years ago I sold my house in one week, and it completed 6 weeks later, that’s far from the norm now though. I’m putting one up for sale in 2 weeks time, It will probably go through before Christmas if I’m lucky. Surveys used to hold things up, they are usually very efficient now, it’s solicitors and searches that hold it up now.
perhaps the intention is to exchange and complete on the same day.
Assuming you've already emptied the property and its ready to just hand over the keys then it's perfectly fine from your perspective to do it that way.
Your estate agents should be asking the buyers about their intentions around this however and should also know their current arrangements e.g, FTB, in a chain, renting etc. Sounds like they're not really earning their fee's given how little information you have.
Assuming you've already emptied the property and its ready to just hand over the keys then it's perfectly fine from your perspective to do it that way.
Your estate agents should be asking the buyers about their intentions around this however and should also know their current arrangements e.g, FTB, in a chain, renting etc. Sounds like they're not really earning their fee's given how little information you have.
I used a conveyancing company rather than solicitors when I bought my current house: I found them much more responsive and efficient.
The biggest delay was the bank (big high street brand). It took over 3 months for the mortgage to come through. I was pulling my hair out at the end because I couldn’t get any updates out of them.
The biggest delay was the bank (big high street brand). It took over 3 months for the mortgage to come through. I was pulling my hair out at the end because I couldn’t get any updates out of them.
The issue for me is if I bend and grant the month extension then where does it end, I would prefer to get something in writing and if that means exchanging now then that`s what it will be.
Biggest gripe for me is the buyers seemed really keen, multiple visits after offer accepted and requests to take things to the property the day before completion etc.
Property is empty and ready to go but its still a pita.
Biggest gripe for me is the buyers seemed really keen, multiple visits after offer accepted and requests to take things to the property the day before completion etc.
Property is empty and ready to go but its still a pita.
Either:
1) They’re not fully committed;
2) There is an issue raising the money; or
3) They have some reason why it it is bettter/more convenient for them to delay until the end of summer.
Exchange asap with a longstop (latest) completion date included would flush out the reason and, if it is simply 3, get the parties to a point at which the deal is locked in.
Are they in rented? If so they may have just realised that they have to give a month’s notice and don’t want to be funding two properties for a month.
1) They’re not fully committed;
2) There is an issue raising the money; or
3) They have some reason why it it is bettter/more convenient for them to delay until the end of summer.
Exchange asap with a longstop (latest) completion date included would flush out the reason and, if it is simply 3, get the parties to a point at which the deal is locked in.
Are they in rented? If so they may have just realised that they have to give a month’s notice and don’t want to be funding two properties for a month.
Belle427 said:
The issue for me is if I bend and grant the month extension then where does it end, I would prefer to get something in writing and if that means exchanging now then that`s what it will be.
Biggest gripe for me is the buyers seemed really keen, multiple visits after offer accepted and requests to take things to the property the day before completion etc.
Property is empty and ready to go but its still a pita.
Your solicitor should have told you that you do not let them put things in the property ahead of completion.Biggest gripe for me is the buyers seemed really keen, multiple visits after offer accepted and requests to take things to the property the day before completion etc.
Property is empty and ready to go but its still a pita.
Also stop the visits, they're playing house without the commitment at the moment.
You need to take your agent to task and find out what's going on. Perhaps they're in rented and realised LL needs a month's more notice in which case you can say exchange as planned and then complete as requested. Or it could be something much higher risk like they don't have the money, the lending market has changed over the last few months so maybe the mortgage costs have rise.
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