Should i pull out of sale? I dont know what to do!

1echidna

Do you have any communication direct with the vendor (not via EAs or solicitors)?

MumOf5_3

i didnt exchange today. echange date was today, but when my sol told me the vendors wanted to comple in 4 weeks i said noway. i said thats being unreasonable considering my circumstances too. so my sol told me to take the night to think over what i want to do and call her in morning. In the meantime i got soooo mad i phned the EA and said that unless they can come forward on the completion date thne im gonna pull out!!!! i was mad at the time now i feel i done something wrong:(

i do not have communication direct with the vendors and i do not wish too as they frown upon us from the viewings. 5 children i dont think is acceptable tot hem lol. un fortunately i cant afford private schooling as they do lol:)

travelchick

well firstly dont let them look down on you, after all you have 5 children and can afford to buy their house so you are doing just fine for yourself

Well done for pulling out of the exchange as it was not what was promised, and it gives you a bargaining tool.

I would tell your sol that they promised that they would vacate, although it holds no value until exchange, you can say that you will want an exchange by the dates originally agreed or you will give them the option to reduce the cost of the house by the value of your expences (risky but ive seen it happen) (ie one months rental ect)
The other thing is tell them that you want to complete on a set date and if they do not agree to exchange by fri you will pull out, but your ownly downside is if your willing to then pull out? if they call your bluff.

Remember sol like to exchange on a fri and money takes the avarage of 90 mins to leave one sol and get to the next if you get to 1pm on fri you will be pushed to exchange, it can be done but bank of england stops the transfers at 3pm, so if you issue a deadline make it before sol go to lunch. They dont give up lunch on a friday for love nore money lol.
Good luck I really have everything crossed for you

xx

kmmr

I had a similar situation - although nowhere near as much of an issue with kids etc. Vendor pushed hard to exchange, then suddenly came up with a 5 week exchange to completion gap at the last second. They had really pushed me to get to exchange in 4 weeks (with constant threats to sell it to another bidder), and I had relied on that for my own arrangements too.

They changed their mind for exactly the same reason, they suddenly found a place they wanted, and didn't want to move twice. Lots of fighting, and then I had to swallow paying for part of their moving costs for the second move. I know... seriously! But I wanted it enough, and swallowed the cost.

Just remember you want the house - so don't throw the baby out with the bathwater. Negotiate with them, be flexible and try to sound reasonable without resorting to 'you lying so and sos!'. In my case for a few hundred quid I got what i wanted. Remind them no-one else can complete now as fast as you, and if they risk losing you it will take them a hell of a lot longer to get someone new.

Remember this will pass... you will forget these stresses once you are in the door... focus on the house you want, it will get there!

MumOf5_3

thank you for that kmmr but the problem is with these people negotiating is a no go. Its there way or noway lol.

which im suprised at because last year they had house on market and when it came to exchange apparently 'the buyers' pulled out. they put it on market this year and along i came! now you would think they wouldnt want to risk losing a cash buyer with no chain. yet they dont negotiate.

kmmr

You can play hard and seriously offer to pull out.

My solicitor suggested I write to the EA (who was co-ordinating) and say that it was that weekend, or I would come back to them 'later' to work out a suitable date. I had visitors coming, and needed the spare room so i said we completed that week, or I would 'think about my position and get back to them after my visitors left', which was a week or so AFTER their date. No direct threat, but suddenly they realized they weren't in the driving seat, they came up with the moving costs thing. Was the best I could do...

The EA was very aggressive with me, and hung up on me once after saying I was being unreasonable, and that there was no chance the vendor would shift his date. But writing an email allows you a little time to form your thoughts - be logical and give them some options to also save face.

All nice words i know, but little real use! But don't pull out!! It's not worth you trying to find somewhere else now either.

1echidna

I think you have to be calm, consider the here and now situation and not get hung up on the history. If at all possible negotiate directly with the vendors, keep it friendly and try and find out what the considerations are for them as well as explaining your own. You may find you get nowhere but at least you will have given it your best shot, and it can be very surprising how people give ground if reasons are explained and the atmosphere is non confrontational.

kmmr

Both exchanges I have done in the UK had some kind of issue like this in the end. Last time the vendor suddenly announced I had to exchange a week earlier. Its all super stressful when it is happening, but it is soon forgotten...

Ian_W

MumOf5 wrote: »

i viewed a property in June, we feel in love with it. EA said there is no chain the vendors would move out asap into rented accom. We are cash buyers so everything seemed perfect!

Unfortunatley it took us awhile to get funds from bank, but the vendors where patient as they were in no rush.

Devil's advocate time. Your vendors probably think you're a complete nightmare.

Did they threaten to pull-out and put the house back on the market when you were taking longer than expected getting the funds?

Did you ask them directly about a specific date before letting out your property and arranging your school transfers? If not, why not? Given that passing messages through EA's and solicitors is always prone to "send 3 and 4pence" syndrome, even if neither is flannelling you.

It may well be that when you viewed it was their intention to move out quickly but that during the 3-4 months it took YOU to be in a position to exchange they found somewhere they wanted to buy. Having patiently waited for you, perhaps they were expecting you might return the courtesy?

Unless I'm reading this wrong, your children's transfer has gone through, you'll have to move out of your home for tenants anyway so what will pulling out achieve? You'll be homeless, your kids schools will be the new one's and you'll have to start house hunting, money hunting and the legal palava all over again!

MumOf5_3

the vendors where not in a chain and were moving out into rented accomodation Ian W. and they said whenever we are ready they are ready. They were in no rush back then. And we did ask them when they ould vacate so we could arrange schooling and tenants for my property they told us end of next week. i i took it on good faith as i do have some human compassion in this horrible mess.