Contracts signed but "not in a position to close" -Advice needed

Sch3cter

Registered User
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Hi Guys,

We are purchasing a house, the offer was accepted back in April this year. Both parties have signed and returned the contracts. The mortgage was drawn down and is currently sitting with our solicitor. However, the vendors solicitor has told our solicitor that they are " Not in a position to close the sale" but won't tell us exactly why?
Our solicitor said they will be issuing a completion notice on them but we're not entirely sure what that entails? We where hoping someone could clear it up for us and explain? I've read other posts but I'm still not sure.
The only reason we can see for the delay is that they are moving appliances etc. out of the property however they are included in the sale as part of the contract & all brand new, so we're hoping it's not that.

Thanks,
Sch3cter
 
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Can uour solicitor not request a reason for the delay in closing? Perhaps there is a delay in closing a sale on another property? I would certainly put them on notice about leaving the appliances in the property, and not replacing them with others.
 
These days, there is a good chance that they can't close because the house is in negative equity, and their plans to raise the money/loan to cover the total outstanding mortgage has fallen through, or is delayed.

I agree get your solicitor to ask why and get them to outline what plan they have to close to see if it is agreeable to you.
 
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