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Do I need to panic !

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  • Do I need to panic !


    Im a 1st time seller with very little knowledge.
    No chain.
    No mortgage to settle.
    Property vacant.

    Stage to date.
    Have a 1st time buyer in no chain.
    All surveys fully completed = no issues.
    All paperwork completed and signed off.
    Buyers mortgage paperwork signed off with solicitor last week.
    Contracts signed by both parties.

    Completion date is 11/9/09 as requested by the buyer.

    Issue : Buyer to still give the mortgage deposit to their solicitor.

    My estate agent and solicitor both say not to panic because if the deposit is given early next week then the completion date will stand. Im also told that the buyer can action a bank telegraphic transfer which actions the same day.

    Both the estate agent and their solicitor are making contact with them to give a gentle nudge on the deposit issue.

    All so stressfull

    Has anyone had the same problems when buying or selling.

    Am I panicing needlessley ??

  • #2
    There is no need to panic, in that a completion date of 11 Sept can still be achieved if all the paperwork is being processed

    Also: is 11 Sept a vital date to achieve? If it is for your buyer but not for you, then it is your buyer who should be getting worried!
    This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum


    • #3
      Hi Justin,

      The buyer has requested this completion date.

      The property is vacant as its not my main residence so Im not actually selling to move onto another house.


      • #4
        Well still no deposit left from the buyer and nobody seems to be able to make contact with him either.

        Now he's always been hard to contact but so close to completion is nerving !

        I really dont think Friday 11th of Sep 09 is acheivable now !

        I wonder how long I should give this person before putting the property back on the market.