What should we do?

henrik1971

I agree with Fire Fox.

You cannot force them to sell, they own it and you want it. All the signs are that they don't want to commit themselves and would prefer to keep their options open for a little longer, or else they would be pushing their own solicitor to exchange, locking you both into the sale. Hopefully everything will work out, but I would also be making a plan B if I were you

I think if this goes on for too much longer you might also want to consider writing to them and saying that after another 30/60 days or whatever, if contracts have still not been exchanged you need to reserve the right to renegotiate on the purchase price. Its a gamble but it might focus their minds, especially if residential values in your area are weakening.

pawpurrs

I would ask them to exchange now but with a delayed completion, this still gives them the completion date they want, but gives you the security as well, if they really dont want to lose you as buyers, they will do this, the only reason for not doing it, as they are thinking they can tie in another sale, which could mean anything in relation to timescales and chains that may not be completed. If they are serious about moving in to rented they will do this.
They sound a bit of a nightmare if they have pulled out of so many sales?
Its very difficult though if they refuse, as you obviously really want the house.

haras_nosirrah

hi everyone

thanks for your responses and opinions. If there were loads on the market I would be taking a much firmer stance. I have looked on rightmove and the only houses I can see in our price range are the 1960's and 70's box houses with tiny gardens. The one we have found is a 1930's cottage with exposed beams and a 70 ft garden in a lovely little village which we love. I am just afraid to lose it as I don't think we will find another as we have been looking so long (took us 9 months to find this one).

I am definitely going to push for exchange before christmas as a minimum. If then are going into rented then they may even be able to complete this year as they won't have the rest of the chain to deal with - the chain that just fell apart started only 4 weeks ago so we have been pushing them as quickly as we could.

I think even the estate agent is getting bored of their lack of ability to stick with a property.

Anyone got any advice about what we should do about the 18k currently sitting with our solicitor?

haras_nosirrah

pawpurrs wrote: »

I would ask them to exchange now but with a delayed completion, this still gives them the completion date they want, but gives you the security as well, if they really dont want to lose you as buyers, they will do this, the only reason for not doing it, as they are thinking they can tie in another sale, which could mean anything in relation to timescales and chains that may not be completed. If they are serious about moving in to rented they will do this.
They sound a bit of a nightmare if they have pulled out of so many sales?
Its very difficult though if they refuse, as you obviously really want the house.

This is the action we have taken - asked the solicitor to ask for quick exchange and a delayed completion.

I know I am thinking with my heart and not my head on this but where there is nothing else on the market in the same price that is close to this one (we are getting for 11k under asking) I am afraid that as they are not buying anything else they have nothing to lose and if we go hard line on them they will put it back on the market and probably get more money for it.

Thanks for all the comments. Will have to see what tomorrow brings

Doozergirl

haras_nosirrah wrote: »

Anyone got any advice about what we should do about the 18k currently sitting with our solicitor?

Yes. Use it for imminent exchange and delayed completion set for whatever date the vendor wants.

You are absolutely right to think that your vendors are looking for somewhere to buy again - otherwise they would commit to exchange. Solicitors moving office is no excuse at all - after three months you should be ready to exchange.

My fear is that next year they find somewhere else again delaying it all once more and then decide that the house is worth more money because the 'spring bounce' has arrived.

You need to put your foot down. Immediate exchange or you start looking again - whether or not that means pulling out straight away perhaps not, but I would start viewing as this does not bode well unless you can get exchange.

It is simply not good enough. Not at all. You shuld not allow them to walk over you because they will continue to do so at any cost.

haras_nosirrah

So we phoned our solicitor and the agent this morning and put accross the following deadlines

A deadline exchange within 14 days and a completion deadline of 19th february (end of half term holiday - she has a 9 year old in the village school). This date can be brought forward by mutual agreement.

Will have to see what the response is but I think the feb deadline gives her time to find something else and/ or find suitable rented (looked on rightmove and there are no rentals being advertised within the village so I can't say she has to be out in a few weeks) but the exchange means we can finally relax knowing it will be ours albeit it being 6 months after finding it.

We spent an hour looking at houses within a 10 mile radius of this property and there is just nothing else that we can see (unless we get a 2 bed instead of a 3 which I don't really want as I will be working from home a lot)