Buying selling protocol

Roker_Roar

Advice please :
In the process of buying and selling at the moment - almost there but and theres always a but .Our buyers have agreed to a completion date of the end of September - weve already renegotiated this date from the end of August - now the house were buying dont want to move till the end of November - they are buying a new property - they've approached us with a compromise of the end of October - this is not convenient to us - now they want us to split the cost of them moving into rented accomodation/storage etc . The point is they have already lost 2 buyers - considering this is a very small chain i dont believe we are being unreasonable - i understand they will have inconvenience but they do have a sale gaurenteed - the house is costing 235K - so its a considerable amount - what is the protocol in these scenarios - should we pay for them to move out ?? or shoud we call there bluff .......

PoorDave

Roker_Roar wrote:

Advice please :
In the process of buying and selling at the moment - almost there but and theres always a but .Our buyers have agreed to a completion date of the end of September - weve already renegotiated this date from the end of August - now the house were buying dont want to move till the end of November - they are buying a new property - they've approached us with a compromise of the end of October - this is not convenient to us - now they want us to split the cost of them moving into rented accomodation/storage etc . The point is they have already lost 2 buyers - considering this is a very small chain i dont believe we are being unreasonable - i understand they will have inconvenience but they do have a sale gaurenteed - the house is costing 235K - so its a considerable amount - what is the protocol in these scenarios - should we pay for them to move out ?? or shoud we call there bluff .......

Is everything except the final date sorted?

We were in a similar situation in 04-05, and we pulled out as the vendors wouldn't move until Jan 05, moving to a new house that kept being delayed.

Stupid thing was that by doing this we ended up not moving until Feb 05 as our second choice house took ages to get to completion.

I wouldn't say you should pay for their rented. Would they say you should pay their first few mortgage payments if you "forced" them to move before they felt ready? No. So why pay for their rented?!

alanobrien

Intesting position, and i guess the only answer is how much do you want the house ?

What is the cost against the cost you have already spent to date getting this far in the chain ?

Are you prepared to walk away ?

If you can answer those questions to yourself i think you will have your answer.