Sale agreed in April - still no contract from vendor.

Would appreciate any advice what to do in such situation:

We had sale agreed on a house in April, deposit taken in April too. Because we were cash buyers we transfered full amount to solicitors account in May.

House seller is a bank. I dont know which one. Property is vacant for 3 months already.

However, since April vendors solicitor did not finalized the contract. There were few minor issues as per our solicitor.

They had many excuses not to make a contract (holidays, etc), but still is it normal to wait 6 months to close a sale?

I though that bank would be interested to close a sale

Our solicitor says that this is first time that they see something like this. But there is nothing that they can do, just to keep calling once a week and leave messages.

Our Solicitor said we can wait or take the deposit back and money back.

RE agent is interested to close a sale too, but RE cant push them either.

We dont want to take deposit back because property increased in price, but we cant wait indefinetely too to close a sale.

Any advice woudl be appreciated.

The estate agent should have a word with their client, the bank.

You could ask the estate agent which bank it is and try contacting them yourself.

You can be sure with enough digging or sweet talking you will find out which bank.

There is no advice to give you, your solicitor has given you your options, keep holding with no guarantee of anything, or walk away.

If I were in your situation, I'd put a deadline to the bank, stick to it and with no contracts pull out.

Thank you for advice, RE said that they have spoken to auctioneer who in turn spoke to the (vendor) bank and they (bank) said that contract will be done asap . That was 3 months ago. Now auctioneer says that solicitors should talk to each other and there is nothing that they can do to push them to close the sale

Will my call to the bank help if they ignore my solicitor, auctioneer and real estate agent?

mamo said:

Will my call to the bank help if they ignore my solicitor, auctioneer and real estate agent?

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It might help you to understand what is going on, but your problem is the bank will probably not tell you. Look up the owners land registry title for the property and you will see who the bank is. You can nowadays do this online.

Will my call to the bank help if they ignore my solicitor, auctioneer and real estate agent?

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It will be virtually impossible to get any info in doing this. No bank will talk to you directly about the transaction and you would have hige difficulties in even ex=stablishing who looks after the case. Decision is now in your hands! Get your solicitor to put an ultimatium to the vendors solicitor that unless they progress to closure by a set date you will withdraw from the contract.

I purchased a property, a liquidator had control over it, and it took just over 6 months for everything to be finalized. On a normal sale/purchase it has taken us 3 months to have everything finalized.