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  • FIRST POST
    • strawberries1
    • By strawberries1 13th Sep 17, 5:01 PM
    • 657Posts
    • 139Thanks
    strawberries1
    7 Month On Going Chain. What To Do???
    • #1
    • 13th Sep 17, 5:01 PM
    7 Month On Going Chain. What To Do??? 13th Sep 17 at 5:01 PM
    Hi Everyone,

    My offer was accepted early March 2017(PropertyA). I'm a FTB so end of chain.

    I was told by both estate agent and seller that he (1/2 of seller)had already found the property he was buying (Property B) and his ex partner will move to her mum's (splitting partners).

    The owner of the property my seller was buying was going to move out and rent a place (No Property C, end of chain).

    Lo and behold somewhere along the line the EA said that seller had now found a property to buy. It later came to light that that decision added 4 transactions to the 2 transacton chain making 6 properties.

    This is now September. I've been paying rent all this while and to top it up my ATOM 1.29% 5yr mortgage offer has now expired and there's nothing like it on the market. Added valuation costs and increased interest.

    I feel the seller was dishonest with me. Their property had been on the market since about Feb 2016 and sale fell through 2ce.

    During this transaction the EA's updates have been " awaiting replies to enquiries by sols/bank" as the cause of delays up the chain but when I told him last week my MO was expiring he said 2 others on the chain had the same issue and were getting their valuations redone so it doesn't look like we'll complete this month . He's never said this before; enquiries were the reasons he'd been giving for delays.

    Obviously my seller's MO expired and they've had to get a new mortgage so this is at least one of the reasons for the delay as their previous attempts to sell fell though.

    A part of me wants to walk away from it all if I don't get a reduction!!
Page 1
    • lisyloo
    • By lisyloo 13th Sep 17, 5:26 PM
    • 21,278 Posts
    • 10,213 Thanks
    lisyloo
    • #2
    • 13th Sep 17, 5:26 PM
    • #2
    • 13th Sep 17, 5:26 PM
    Where do you think anyone's been dishonest?
    It sounds like things changed.


    If you don't like it then walk away and look for a seller who has no on-going chain or one who's prepared to go into rented.


    I sympathise but this sounds par for the course unfortunately.
    • purpleparrotuk
    • By purpleparrotuk 13th Sep 17, 7:12 PM
    • 248 Posts
    • 37 Thanks
    purpleparrotuk
    • #3
    • 13th Sep 17, 7:12 PM
    • #3
    • 13th Sep 17, 7:12 PM
    Where do you think anyone's been dishonest?
    It sounds like things changed.


    If you don't like it then walk away and look for a seller who has no on-going chain or one who's prepared to go into rented.


    I sympathise but this sounds par for the course unfortunately.
    Originally posted by lisyloo
    Surely anyone would be upset if the person your are buying off suddenly decides they are going to form chain after you made an offer thinking it was going to be no chain above?
    • Alter ego
    • By Alter ego 13th Sep 17, 7:15 PM
    • 2,167 Posts
    • 2,081 Thanks
    Alter ego
    • #4
    • 13th Sep 17, 7:15 PM
    • #4
    • 13th Sep 17, 7:15 PM
    Welcome to the world of house buying.
    Ignore me if you like, it's not the real me anyway.
    • mrginge
    • By mrginge 13th Sep 17, 7:32 PM
    • 4,269 Posts
    • 7,610 Thanks
    mrginge
    • #5
    • 13th Sep 17, 7:32 PM
    • #5
    • 13th Sep 17, 7:32 PM
    Good luck with that reduction.
    • kinger101
    • By kinger101 13th Sep 17, 7:38 PM
    • 3,942 Posts
    • 5,392 Thanks
    kinger101
    • #6
    • 13th Sep 17, 7:38 PM
    • #6
    • 13th Sep 17, 7:38 PM
    At the three month point, I would have been looking for alternative chain-free properties. No need to pull out of this one until you've found something else though.
    • lisyloo
    • By lisyloo 13th Sep 17, 9:14 PM
    • 21,278 Posts
    • 10,213 Thanks
    lisyloo
    • #7
    • 13th Sep 17, 9:14 PM
    • #7
    • 13th Sep 17, 9:14 PM
    Surely anyone would be upset if the person your are buying off suddenly decides they are going to form chain after you made an offer thinking it was going to be no chain above?
    Originally posted by purpleparrotuk
    The devil is in the detail here (and I tend to take things literally).
    If someone made a firm verbal commitment and understood that was the basis of an agreement then that's different to simply saying their intention at this moment is to do X.

    The first is upsetting I agree, but a potential buyer should be aware that it's still not legally binding and they are free to change their mind.

    Put it another way, if you verbally agreed something and it was a "gentlemans agreement" and then you found your dream home and changed your mind what would you do? If you weren't obliged to then I think you'd let the other person down if they were a stranger and it wasn't an obligation and your future happiness and tha of your family depended on it.

    Not nice and I do sympathise but if it's not binding then someone can change their mind.
    • strawberries1
    • By strawberries1 14th Sep 17, 2:37 PM
    • 657 Posts
    • 139 Thanks
    strawberries1
    • #8
    • 14th Sep 17, 2:37 PM
    • #8
    • 14th Sep 17, 2:37 PM
    I guessed right. It's my seller and his seller who're waiting for their mortgages to come through.
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