Closing Dates

sullydublin

Hi All,

We are currently selling our house and have a deposit down on a new build.

We currently find ourselves in a position where the new build is now ready and the purchaser of our home still hasn't signed contracts.

Has anyone come across this issue as the builders solicitor is pilling on pressure for us to sign in a few weeks time?

Thanks in advance

Samuel T. Cogley

Could be any number of reasons - are the buyers in a chain (do they have buyers)?

sullydublin

Samuel T. Cogley wrote: »

Could be any number of reasons - are the buyers in a chain (do they have buyers)?

No first-time buyers I believe who are eager to buy.

dev_ire

sullydublin wrote: »

No first-time buyers I believe who are eager to buy.

Useless estate agent?

Samuel T. Cogley

Hate to say it but finance possibly fallen through?

sullydublin

I hope it's a useless estate agent rather than there mortgage falling through. Very strange that the solicitor hasn't reverted back at all.

davo10

sullydublin wrote: »

I hope it's a useless estate agent rather than there mortgage falling through. Very strange that the solicitor hasn't reverted back at all.

EA has nothing to with it, all they do is inform you of the offer. If the buyer has not signed the purchase agreement then you don't have a contract to buy, if the buyer hasn't signed completion then it's an issue with bank or solicitor.

sullydublin

davo10 wrote: »

EA has nothing to with it, all they do is inform you of the offer. If the buyer has not signed the purchase agreement then you don't have a contract to buy, if the buyer hasn't signed completion then it's an issue with bank or solicitor.

Hopefully, it's worrying over nothing and everything falls into place. The EA in fairness is going to be following up early next week. We are just hoping the purchaser is aware of our current situation.

dubrov

The estate agent will want to close this as much as you do and are likely pushing the buyers to close.

They will have more information on the vendor than your solicitor so should know why there is a delay in closing.

ted1

dev_ire wrote: »

sullydublin wrote: »

No first-time buyers I believe who are eager to buy.

Useless estate agent?

The Estate agent should be out of the picture at this stage. Once the deposit is paid it’s over to the solicitor

dubrov

They will still be talking to buyer and seller though.
So the delay is not their fault but they are likely to know why

Cash_Q

Ask your solicitor and the estate agent to chase it up. We signed our contracts 5 weeks ago and vendors solicitor only returned their signed copies this week. We were on to our solicitor and the estate twice per week throughout. Turns out their solicitor is just very slow. You need this to move along now. Pester them every day. God knows you're paying your solicitor enough and if the EA is onto them too then they're likely to keep the pressure on their own solicitor.

sullydublin

Cash_Q wrote: »

Ask your solicitor and the estate agent to chase it up. We signed our contracts 5 weeks ago and vendors solicitor only returned their signed copies this week. We were on to our solicitor and the estate twice per week throughout. Turns out their solicitor is just very slow. You need this to move along now. Pester them every day. God knows you're paying your solicitor enough and if the EA is onto them too then they're likely to keep the pressure on their own solicitor.

I've had a chat with the EA and our solicitor and advised that we need an answer early next week. The problem is if the sale of our home falls through we will just pull the plug on our sale. We waited a while to find the right house so we won't be to keen to sell if that falls through.

sullydublin

Would a developer pull out of sale if it's delayed by a week or two?

Askthe EA

sullydublin wrote: »

Would a developer pull out of sale if it's delayed by a week or two?

Depends on whether they are getting higher prices now than when they agreed the sale of this house.