Vendor delaying return of contracts

Peonygrace

Hi

I have had my offer accepted, gone Sale Agreed, signed contract in line with their close date of 9th October. It is now 30th Oct and nothing back from the Vendor.
My solicitor contacted the auctioneer and the vendor solicitor who said they would return the contracts 'soon'....but that's it.

Is this quite usual?

I gather as they have not yet signed, they could still pull out?

Advice appreciated.

Eager to get the drawdown and keys because I have work to do on the property and took December off for this purpose.

m'lady

Peonygrace wrote: »

Hi

I have had my offer accepted, gone Sale Agreed, signed contract in line with their close date of 9th October. It is now 30th Oct and nothing back from the Vendor.
My solicitor contacted the auctioneer and the vendor solicitor who said they would return the contracts 'soon'....but that's it.

Is this quite usual?

I gather as they have not yet signed, they could still pull out?

Advice appreciated.

Eager to get the drawdown and keys because I have work to do on the property and took December off for this purpose.

I'm interested to hear any replies as we are in same position I think. Booking deposit was paid on 1st September and sales advice letter was sent to my solicitor on the 30th September, and since then nothing. I contacted my solicitor to ask her to contact vendors solicitor and I have heard nothing. It's a long process!
Did your solicitor receive the sales advice letter? I know it doesn't mean much but it's a sign things are progressing..

the_syco

Is the house in much negative equity? See if you can find out what the houses did go for, what it is now, and how much the seller would lose. It's possible that they're waiting on the bank to decide?

MarkAnthony

Very common, could be one of a million things including the vendor having no where to go or can't be arsed to move before Xmas.

EDIT: Even after a Vendor has signed they can pull out. In theory you could seek an order of specific performance. In practice the cost out weighs the benefit.

MAJJ

MarkAnthony wrote: »

Very common, could be one of a million things including the vendor having no where to go or can't be arsed to move before Xmas.

EDIT: Even after a Vendor has signed they can pull out. In theory you could seek an order of specific performance. In practice the cost out weighs the benefit.

OP it really could be so many things, can't find somewhere to go or a chain or house they're buying falling through etc. This has literally just happened to us and I will likely open a thread for it.

Seriously don't commit or plan much even when you get a date to move in, often meaningless and changes. I hope it all works out for you

Peonygrace

Hmm well they are selling because the woman died I think - the house was empty for two years prior. They also had a previous bidder fall through and I know they set the date for signing and me to close as 09 October, so as far as I was aware they were eager to get this sorted out.
The sale agreed sign is up.

I have done everything in line with their timeline.

My solicitor said their solicitor just said that the vendor hasn't been in to sign and will 'soon'.
He did receive something from the land registry map office from their solicitor, which was an indication they are proceeding.

Can I request a date from them to try hurry them up?
I don't want to step on my solicitor's toes but I'm really quite keen to commence works.

P. Breathnach

Peonygrace wrote: »

...
Can I request a date from them to try hurry them up? ...

You can take a stronger position: you can require completion. Ask your solicitor to serve notice that unless contracts are returned within a week with a suitable completion date, you will withdraw.

Sometimes you need to play hardball.

It might be that you are dealing with an executor who is simply too casual.

Uno my Uno.

MarkAnthony wrote: »

Very common, could be one of a million things including the vendor having no where to go or can't be arsed to move before Xmas.

EDIT: Even after a Vendor has signed they can pull out. In theory you could seek an order of specific performance. In practice the cost out weighs the benefit.

Not if the contracts are signed and delivered.

P. Breathnach wrote: »

You can take a stronger position: you can require completion. Ask your solicitor to serve notice that unless contracts are returned within a week with a suitable completion date, you will withdraw.

Sometimes you need to play hardball.

It might be that you are dealing with an executor who is simply too casual.

What notice exactly should they have their solicitor serve? From the OP's post it would seem that they have signed and returned the contracts with the result that they are bound.

P. Breathnach

Uno my Uno. wrote: »

...
What notice exactly should they have their solicitor serve? From the OP's post it would seem that they have signed and returned the contracts with the result that they are bound.

They are not bound until the exchange of contracts has been completed - meaning signed by both parties and signed copies in the hands of both parties. The vendor cannot hold the purchaser hostage by stalling.

Uno my Uno.

P. Breathnach wrote: »

They are not bound until the exchange of contracts has been completed - meaning signed by both parties and signed copies in the hands of both parties. The vendor cannot hold the purchaser hostage by stalling.

On a practical level the Vendor can sign and exchange the contracts so once the buyer has returned the contracts they should consider themselves bound. That is to say, never return signed contracts on the basis that you can withdraw, getting the contracts back from the vendor can be difficult.

the most likely situation here is that the Executor is not local to his solicitor or is simply lazy.

P. Breathnach

Uno my Uno. wrote: »

On a practical level the Vendor can sign and exchange the contracts so once the buyer has returned the contracts they should consider themselves bound. That is to say, never return signed contracts on the basis that you can withdraw, getting the contracts back from the vendor can be difficult.

I think you are missing the point I make: if the vendor fails to complete the exchange of contract documents, then no contract exists. The vendor is not entitled to delay things indefinitely, and the purchaser can reasonably require completion in reasonable time or have a determination that there is no contract. I agree that the purchaser cannot simply walk away, but if the purchaser serves notice on the vendor that a time limit is being imposed, it is not too difficult to walk if that time limit is not met.

the most likely situation here is that the Executor is not local to his solicitor or is simply lazy.

I agree that it looks like a problem with an Executor. There might be some problem among the beneficiaries of a will.

Peonygrace

Ok thanks. I contacted my solicitor and just asked would it make sense for us to suggest a date to receive them by, on the basis that I did everything in line with their very short notice closing date, which they are now nearly a month beyond...

We will see what he thinks to that...