Why the hurry to exchange?

bryanb

poppysarah wrote: »

Her mortgage offer runs out? She's got inside information about someone else wanting to snap up your house?

Why would vendor need a mortgage to move to rented??

poppysarah

Oh missed that bit.
Cos she's got her eye on a particular rented place but doesn't want to be paying rent and not living there

DVardysShadow

poppysarah wrote: »

Oh missed that bit.
Cos she's got her eye on a particular rented place but doesn't want to be paying rent and not living there

Seems likely. Well, OP should stand his ground and not exchange until he is ready first, then try to accommodate her issues. All she needs to commit to renting is an exchanged contract - it is probably to her advantage to have an overlap.

But she isn't helping herself by applying pressure and refusing to discuss.

hugheskevi

To report the outcome for the record...exchanged today (Thursday).

Many thanks for the various comments, which were reassuring inasmuch as they confirmed everything I was thinking was likely to be going on.

To clarify some of the questions/issues in the comments...I was perfectly happy to exchange as soon as possible, but we were not in a position to exchange as both party's solicitors were doing the normal checks/questions, etc. That was all proceeding well, but as the draft contract wasn't sent until Thursday 17th December, then discounting the two Christmas weeks that only left 4 full working days in between receiving the contract and exchanging, so it was always going to be a challenge even with the best of intent.

When I posted, the position was that if all the checks were not problematic then we should have been in a position to exchange by Thursday, but any complications would mean we would not be.

Personally I was annoyed that the vendor was dictating terms after causing all the problems through her own lack of due diligence, and then demanding that I rush to sort everything out when very little of it was within my control, and the only reason that could be offered for the need for this was that 'it is necessary, I don't want to discuss it.'

Whilst there is no assurance to match exchanging, I had sent the deposit to my solicitor and already purchased furniture (which I would have far preferred to have done post-exchange, but decided to trust the purchase would take place when we couldn't exchange before Christmas given the lead-in time to have furniture made) - there really wasn't anything else I could do to display good faith!

Given that the vendor knew my mortgage offer expired on 1st February I was annoyed that she was willing to potentially jeopardise the sale and wouldn't even discuss the reason for it (whether or not she would have demanded a later completion date if we couldn't exchange on Thursday I will never know).

Still, on the plus side, I never mentioned to her that my mortgage provider was perfectly happy to extend the offer for two weeks if necessary :rolleyes: I figured that when someone is not willing to be reasonable, then it is far better that they are not aware of the true constraints within which they are negociating

Running_Horse

One day you will look back on this and wonder what all the fuss was about.