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

CloudCuckooLand

You beat me to it, IanW.

They waited 3 months, but the OP doesn't want to wait 28 days...?

There are always two sides to every story.

MumOf5_3

no thats not right what your saying your taking it the wrong way. We told the vendors there might be a delay with the money and they told me that they were in no rush to move out anyway so it was perfect for them and me.

franklee

MumOf5 wrote: »

Tenants are ready to move into our house NEXT week!.

Do tell the tenants the deal is off else you could well leave them homeless!

Ian_W

MumOf5 wrote: »

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.

Fair enough but there are 2 sides to every tale and how does that fit in with:

i do not have communication direct with the vendors and i do not wish too ...

I agree with 1echidna that you should speak to them directly and see if you can work something out.
Am I right in my assumption that you will be homeless because of the tenants or can you get out of that? If you can then pulling out is an option - your call. If you can't then you'd be cutting off your nose to spite your face as far as I can see.

CloudCuckooLand

MumOf5 wrote: »

no thats not right what your saying your taking it the wrong way. We told the vendors there might be a delay with the money and they told me that they were in no rush to move out anyway so it was perfect for them and me.

Maybe you are right, maybe initially that was their view.

But after 6, 8, 10 weeks, did you make sure they were kept in the loop? - even if you did, people might say one thing to your face (or through the EA) to keep their buyer from walking, but in private whinge about the delay, start to wonder if you can keep your end of the bargain etc...

As Ian said, this is said as 'devils advocate' to a degree, but stress occurs on both sides and starts to make people think the worst...just as you are now...!

MumOf5_3

yes i can pull out of the tenancy agreement. It has taken me so long to find a tenant for my property and this one was perfect. it is a buyto let mortgage. so turning them down would be so stressful.

talking to them direct is not an option as we havebeen told deal with there EA. thats what he told me. The ea is the one who told us that they could vacate in 4 days adn i belived him. more fool me i suppose. so i guess i am the one in the wrong and you really dont need to make me feel any worse than i already do ianW and cuckoo i just came on here to ask fr any suggestions thats all.

1echidna

MumOf5 wrote: »

yes i can pull out of the tenancy agreement. It has taken me so long to find a tenant for my property and this one was perfect. it is a buyto let mortgage. so turning them down would be so stressful.

talking to them direct is not an option as we havebeen told deal with there EA. thats what he told me. The ea is the one who told us that they could vacate in 4 days adn i belived him. more fool me i suppose. so i guess i am the one in the wrong and you really dont need to make me feel any worse than i already do ianW and cuckoo i just came on here to ask fr any suggestions thats all.

I guess if you can turn your prospective tenants down and send your kids back to their present school, backing out is an option. Perhaps not an attractive one though given that you will have to start hunting for a house again. I wonder though if your vendors were (like me) earlier in the year of the view that house prices would fall and that renting (or even better staying with relatives) was attractive financially. They may feel that they wish to purchase immediately given that the market is actually improving. This might be a rational explanation for their changing their view on how long they need to complete.

Ian_W

MumOf5 wrote: »

The ea is the one who told us that they could vacate in 4 days adn i belived him. more fool me i suppose. so i guess i am the one in the wrong and you really dont need to make me feel any worse than i already do ianW and cuckoo i just came on here to ask fr any suggestions thats all.

No-one is trying to make you feel any worse than you do but if you ask for advice then not all of it is going to be of the "there, there - poor you" variety. If it is then it's fairly useless in my opinion.
There are several suggestions already like reducing your offer by the cost of 1 months accommodation but you'll have to make a decision tomorrow whether to pull out if they don't agree agree to 4 days or accept their 28. Before you do I'd have another go at the EA, stressing that they'll lose their sale because of the things you arranged based on HIS say so. Face to face is best if you can.
Then either start thinking of temporary acc and storage or about how to give the tenants, schools and BTL lender backword.
Buying and selling houses is stressful but you've got to accept you are in control of your actions but not the actions of others.

1echidna

This also won't be of much comfort to the OP but I am amazed how many people think a very short time between exchange and completion is a good thing. One either arranges things before exchange on a wing and a prayer (as nothing is certain before exchange) or is under a lot of pressure to arrange things quickly after exchange. Much less stress all round with a period of some weeks between exchange and completion.

Incidently one consideration for the OP is whether she thinks the price agreed with her vendor is a good one bearing in mind the increases that have occurred over recent months? If it is there may be strong arguments for swallowing all pride and approach the EA very much as a supplecant, just gently reminding him of his previous statements and begging that they consider her position if at all possible. If her vendors have stood by the price agreed some months ago and it is now a very good one she may well consider a delay and not withdrawing as the best option.

new_home_owner_3

If you have told them you are going to pull out just see what they come back with, i wouldnt bother contacting them let them contact you,hopefully they will offer for some moeny towards the situation.