You've probably heard this all before...

InLimbo_2

It has been twelve weeks since we had an offer accepted on the house we wish to purchase. We promptly arranged a mortgage within a week, instructed solicitors within a day and had the survey completed within three days. (We are first-time buyers).
In spite of this, we had to wait weeks before the vendor completed the required paperwork for us to commence searches, which are now complete.
We are awaiting one final detail from the vendor and then everything from our position is ready, the vendor and ourselves had even arranged provisional dates for completion and my life is now in boxes.
Last night we were informed that the vendor has decided to halt the purchase on one property and purchase another instead. They have a legitimate reason for halting the purchase, a lack of building regs for an extension on the property they originally intended to purchase.
The vendor is confident that we can still complete this month but I am truly wary that this is possible, as our own purchase took 12 weeks.
My question is, do you think it is possible for them to exchange and complete this month?
The other slightly irksome detail is that the property was originally listed as 'Chain Free' and the vendors assured us that if they couldn't find a property they would move into rented in order for our purchase to take place... Am I being unreasonable to be quite annoyed? (I now don't know if we can go on holiday, the house sale will possibly be taking place at a hugely stressful time work wise etc, not to mention the fact that we have time off of work for the move until factors changed last night).
As I say.... 'You've probably heard this all before''...

phoebe1989seb

We pulled out of the purchase of the house we originally intended to buy (complications over extension that had been added to a listed building) 5 weeks after accepting an offer on our own property. We found another (better!) house and managed to exchange and complete on the purchase (as well as simultaneously doing the same on our sale) within a further 4 weeks approx and that after one person in our chain lost all their paperwork in a fire at their solicitors.............although we were mortgage-free which possibly helped a bit

poppysarah

It's your decision... you could ask them if they'd go into rented...

InLimbo_2

Do you think it would be reasonable to ask them to go into rented?
We obviously don't want to upset the apple-cart too much, as they are ultimately the owners of the house and until we have exchanged they can pull out at any time

hazyjo

Yep, you could well have a good rant at the EA you're buying through saying you were misled, let them know how peed off you are and say that you think they should be going into rented as initially said. I was buying off someone once who said there was no chain, then just before exchange they said they'd found somewhere. I went mental and said that's not what we agreed and wasn't part of the terms of my offer. They backed down quickly.

I have bought in 5 weeks, start to finish, before. Four weeks is not unheard of, especially as they probably have most things in place already and their solicitor will probably get a bit of a shift on knowing the circumstances.

Up to you really. I'd decide now though. Either go mad in the beginning saying they said they'd sell with vacant possession and your offer was based on that, or accept the fact you might be waiting another three months. You won't get a month down the line then want to kick off. I'd say now or never.

Jx

hazyjo

InLimbo wrote: »

Do you think it would be reasonable to ask them to go into rented?
We obviously don't want to upset the apple-cart too much, as they are ultimately the owners of the house and until we have exchanged they can pull out at any time

They'll be worrying about you pulling out too. If they've found another house, they'll be panicking you're gonna pull out. Their offer on that house is nothing without you.

If you want it and aren't in a rush other than the fact you're keen, just wait and keep chasing to see how things are progressing.

btw, never pack before you've exchanged! So many deals fall through...

Jx

InLimbo_2

I know what you mean about the packing. Unfortunately, (or fortunately, depending on which way you look at it!), I am a teacher and we actually began looking for houses way back in January with a real hope to move in before the start of the new school year. As many teachers will tell you, once term starts, life stops! Once September commences, I will be changing year group, beginning my Masters degree etc. and could really have done without a house move on top. Really not that keen on spending more time living at home either, hence the strong desire for a move!

Having put in an offer in May, we didn't think that a summer move would be completely out of the agenda, considering our strong position.

To be honest, I am majorly peed off but my partner is of the opinion that even if we kick off, we still won't proceed any faster and if we begin searching for another house we will both lose money and certainly won't be in before September starts.
Family have said that we should wait a week, see what the vendor comes up with and then put our foot down, does that seem reasonable?

Also, we wanted to go on holiday at the end of August but because the vendor said that two dates in August would be preferable to everyone in the previous chain, we held fire on that. Would we be completely inconsiderate if we said, "Either exchange before X date or wait until we come back from holiday?" It's just that I don't particularly wish to spend two weeks sitting at either of our parent's houses moping/waiting on edge for the slight possibility that we will get a move that to me seems highly unlikely!

Thanks for all responses so far! Sorry if I sound selfish!

hazyjo

My hubby's a teacher - so I know

Definitely wouldn't book a holiday. You won't relax, you'll be waiting by the phone, and all you'll think and talk about will be 'the house'. I've done it. It's horrible.

Go in October

Pretty sure they won't go into rented as they'd probably have to sign up for a min of 6 months.

What you could do is say you want another viewing. It will put them into panic mode that you're having second thoughts. Definitely don't burn your bridges by putting down deadlines or anything, just make a decision once you've viewed again whether to hang on or run.

Have they definitely found another house to buy? If so - do you think they knew they'd lost the house and didn't tell you or anyone, obviously worrying you'd pull out? They might have lost it a while back and been busy looking for the last few weeks or so. We were in a similar position with a house we tried to buy. The deal collapsed in the end as they were gazumped on the second house they were trying to buy.

It's a nightmare all this housebuying malarkey! Good luck.

Jx

poppysarah

InLimbo wrote: »

Do you think it would be reasonable to ask them to go into rented?
We obviously don't want to upset the apple-cart too much, as they are ultimately the owners of the house and until we have exchanged they can pull out at any time

I do think it's reasonable.

TBH I'd go look at some other properties just to make sure I was making the right decision.

I think I like looking at houses though.

Acc72

InLimbo wrote: »

Do you think it would be reasonable to ask them to go into rented?

"the vendors assured us that if they couldn't find a property they would move into rented in order for our purchase to take place"

Based on the above, yes it is reasonable (whether they will or not is another issue, but I believe that it is reasonable to ask the question).

Is it reasonable of the vendor to not move into rented accomodation?

InLimbo_2

They have found another house to purchase, ultimately I believe that they knew that they weren't going to purchase the initial house. (They informed us about the building regs about two weeks ago and only told us last night that they had pulled out). They have found another house with a longer chain now, although they assured us that the same dates as previously would be okay for the completition. I also have my doubts that they even liked the initial house that much! The vendors of the house that they are buying are apparently happy to move ASAP but surely they also have to do searches etc. on the house that they are purchasing... all of which is going to take months if our house purchase is anything to go by! Grr!

I just think in regards to the holiday... they've thrown us a curve ball... if we don't go away we are going to be stuck looking at blank walls and boxed up stuff & shiny new goodies with no where to put any of it! (Plus all I will want to do is maths planning or go into my classroom!) It is a case of cutting off your nose to spite your face but as they have mucked us about IMO so monumentally, I feel we deserve to be able to walk away for two weeks and forget about it! I would really love to go in October but as my partner only gets 5 weeks holiday and has two at the end of August and another two for a family wedding next year... it just doesn't seem that likely

Unfortunately, I am one of those people who doesn't cope with stress that well and would be more than happy to pull out right now and go into rented ourselves, just so that we could move out and not be at the whims of others! Was annoyed at the 8 weeks it took the vendor to pass on paperwork for us to begin the searches initially and now this has come along and taken the biscuit! My partner, sensibly, won't go into rented though

Short of stamping my feet and having a tantrum... I feel a catch-22 situation may have arisen!