Why won't vendors release Contracts?

[Andy_and_lou]

Hi Guys,

We went sale agreed on a house about 7 weeks ago, the couple we are buying from are moving counties due to the husband's job being relocated, he has since moved counties and started the new job. They have sale agreed on a house for themselves and apparently the people they buying off are moving into a new build in 6 weeks time. I don't mind waiting another 6-8 weeks but what is annoying is that the vendors will not release the contracts to my Solicitor. Their Solicitor has said to mine that they do not have permission from the vendors to release the contracts which my solicitor can't understand. My solicitor said he will undoubtably have queries on the contract when it is release and he could be working on these if he had them. Sorry if this isn't making much sense But can anybody advise on 1. Does this sound normal? 2. has anybody any experience with a problem like this? 3. why won't they just release the contracts? It's not like the house will be sold from under there feet if they do

 

[sheena1]

Why don't you get back on to the auctioneer and ask them what the hold up is and ask why the Vendor won't issue contracts? Seven weeks is a long time to wait for contracts. They should issue the contracts even if there will be a delay closing. They can insert a closing date that is agreeable to both parties so that is not be a reaon to delay. What has your solicitor said? Until both parties have signed contracts there is no sale agreed as such.....

 

[Peigsayers]

Hi Andy and Lou,

I've had a similar problem. Went sale agreed on a house 16 weeks ago, paid booking deposit, carried out survey etc but only received contracts from the vendors last week, minus a closing date! In the meantime we've lost the buyers for our apt and have had to put in back on the market. The only reason we haven't withdrawn from the sale yet is that we haven't found another suitable property but we are looking.

The main reason our sellers didn't release contracts was because they hadn't found a new house themselves. It was only after repeated threats that we'd pull out that contracts were issued. Your situation sounds a little sus. Maybe the vendors aren't 100% certain about their own purchase or perhaps the new build is falling behind schedule. You should keep in contact with the estate agent - put the pressure on.

 

[Andy_and_lou]

Why don't you get back on to the auctioneer and ask them what the hold up is and ask why the Vendor won't issue contracts? Seven weeks is a long time to wait for contracts. They should issue the contracts even if there will be a delay closing. They can insert a closing date that is agreeable to both parties so that is not be a reaon to delay. What has your solicitor said? Until both parties have signed contracts there is no sale agreed as such.....

Exactly!

We have been onto the Auctioneer on numerous occassions and they seem to be stringing us along. So much so my Husband called to the Vendors last night, to get the story from the horses mouth as such. Basically she gave us the same story as the auctioneer but my husband of course never asked about the contracts (the main reason why he called ) Anyway it was just the wife he was talking too as the hubby is now working away in his new job and my hubby got the feeling that she was genuine. Our Solicitor is as confused as we are.

 

[sheena1]

So if she is genuine why isn't she putting pressure on her solicitor to issue contracts? It doesn't make sense! Especially if her parner has already moved away. You need to put pressure on the Auctioneer and their solicitor. You should give them a time limit and stick to it or you risk being messed around....

 

[Andy_and_lou]

Still no sign of contracts as of Friday. I really don't know what they are playing at, my solicitor cannot understand it and even the EA said to us he can't understand it either cos it's not like they will be booted out of their house if they release the contracts Apparently EA spoke to vendors on Thursday and basically told them that they have to get their Solicitor to release contracts asap. So if there is no head way made by tomorrow evening we are going to 'say' we are thinking of pulling out, not that we want to but we don't feel we have any other choice.