Help! Buyer throwing threats to pull out....

TOOTHACHE

silvercar : I just had a thought and phoned a storage company. I guessed on a double sized garage container, 4 weeks at £257 insured. Thought as a guesture of (RELUCTANT) goodwill we could offer to pay that. We shouldn't have to but as the saying goes every little helps.
I wont pay half his b&b costs as he may choose to live it up rather than just make do for a few weeks. A plan?

ILW : yes, S/O is very popular around here as people can't afford to buy outright. Plus our S/O you can own the full 100% if you choose and can buy outright straightaway, a few of the conversions have become buy-to-lets, 2 bed flats taking £900 a month. Yep, S/O is crap but this place is quite special in that it is old and a very important part of the local area.

Violalass : we cannot stay with friends because our friends all rent so they aren't allowed squatters. Plus most of them don't have children and we have two - including a baby so there rentals are only small - one or two bed flats. We wouldn't be buying with friends.... we have bought a property - we are moving in start of August. Caravan is not an option : we live in a town, I wouldn't even know where the nearest caravan park is - never seen one. We can't travel far as our son is at school and my baby is in childcare whilst we both work.

Maninthestreet : I agree 100% and so does my solicitor and everyone I speak to, he knew the clause was there, he agreed to the dates so he has to lump it really.

GRM : Indeed, he will still need a b&b until he finds a rental (good luck round here - 2 bed houses/flats or even 3 beds are thin on the ground), applies, gets credit checked etc... even if a rental is found today it will still be a good ten days before all the paperwork and checks are done plus a month and a half deposit... cost more than him b&b-ing it for 4 weeks!

ILW

TOOTHACHE wrote: »

ILW : yes, S/O is very popular around here as people can't afford to buy outright. Plus our S/O you can own the full 100% if you choose and can buy outright straightaway, a few of the conversions have become buy-to-lets, 2 bed flats taking £900 a month. Yep, S/O is crap but this place is quite special in that it is old and a very important part of the local area.

!

In that case, tell him he buys on your terms or you will just put it back up for sale.

RAS

Stand firm.

You certainly could stay with friends for a week without contravening any rental agreement. No chance any of them are going on hoilday the first week in August?

TOOTHACHE

G_M wrote: »

Then he has 4 choices:
1)Persuade you to complete next week, move in and comply with the divorce agreement
2)Agree to Complete August 5th, move into B&B for a month and comply with the divorce agreement
3) lose the purchase from you, move into B&B for th foreseeable future and comply with the divorce agreement
4) stay where he is and contravene the divorce agreement

Call his bluff. You are under a lot of pressure, but he is under even more.

Or compromise - offer to Exchange as planned but bring Completion forward one week.

I would happily do this if we could but the chain cannot complete any earlier than august 5th as our vendors are on holiday until 1st august (they are already giving their solicitor power of attorney to do the exchange on their behalf as they are away already).

If it all falls through then it all falls through, OH and I have already said we would buy the other 50% and buy-to-let then buy a smaller property to live in that isn't what we really wanted but would do for a few years. We are all just bemused that he is suddenly turning the tables, did he not read his divorce agreement? that really isn't our issue is it?

G_M

Well then I fail to see why you asking for advice!

Your hands are tied and you know what you must do.......

If your question is actually:

We are all just bemused that he is suddenly turning the tables, did he not read his divorce agreement? that really isn't our issue is it?

Errr... I have no idea if he read his divorce agreement. Never met the guy. And yes, it IS your issue 'cos it seems to be impacting on your sale!

ViolaLass

TOOTHACHE wrote: »

Violalass : we cannot stay with friends because our friends all rent so they aren't allowed squatters.

You wouldn't be squatters, you'd be guests. Even people who rent are allowed those!

Grimbal

frustrating as his heel-dragging has been, I wouldn't risk him walking away. You could rent a holiday let for a month rather than go for the standard rental perhaps?

TOOTHACHE

An update : We told him no, exchange and completion next week was in NO way possible - our solicitor said no, our agent said no and funnily enough his solicitor was a little taken back as well.

Our agents think that he has been very naive - she said he is expecting to exchange, complete AND move on the same day! (nevermind that the final two houses in the chain above us are on holiday at the moment).

So, yesterday, agent called me said he is now demanding £5000 COMPENSATION (for what nobody knows as nothing was legally agreed - we aren't due to exchange until July 4th as per original plan) and if we didn't drop by £5k he would pull out.

Funnily, his original offer was £5k less than the one we accepted so it looks like he is 'one of them' who had a plan all along.

We told our agent he could stick it up his bottom and under no circumstances were we dropping the price / compensating him (that works out at £157 a day until we are due to complete : where is he staying?!!?) as none of this was our fault and he has until Monday to decide what he wants to do. Our agent said he is just cutting his nose to spite his face and tbh what a donk.

So, if we lose the sale, which I doubt we will, it will be back on the market.

He wont find a rental overnight and that is wasting money he could be spending on a property and he certainly wont find another S/O and that is all he can get on his budget. Plus the money he has already spent to throw it away for 3 weeks - because he wasted another week making stupid demands.....

pinkshoes

Perhaps he's just looking for an excuse as he wants to pull out??

As you haven't exchanged, he's not entitled to any compensation so he can go whistle!

(personally, I would have agreed to the quick exchange and completion, and gone and lived in a travelodge for a month with my stuff in storage!)