Advice needed - vendors said they would move out and now change their mind

ginvzt

Hi,

we are FTB and we are buying our first house. We finally got mortgage offer and everything else seems going fine. I am not sure if the local searches are back as the solicitor didn't say anything about them, but we got our environmental searches, and although some things might be a bit worrying (like being on the edge of the flood zone 2), we are still going to continue with the purchase.

One thing that makes me worry is the vendors. We recieved a document listing all the things and it says that the sale is dependant on the vendor buying another property and they have an offer accepted and morgage in place.

When we viewed the house, they said they would move in with their in-laws to let us in that the sale was NOT dependent on them finding another house. I have to say that according to the estate agent the house was on the market from about June without any offers and we finally made an offer in the begining of December.

When we talked with the vendor before Christmas he said that they have got an offer accepted on a house and they they would move asap, and anyway sometime during late January/February. Now, on Sunday he said he still haven't had an offer accepted on the property they found last year, and now he was going to put an offer on a different property. And they are now saying they wouldn't like to move twice.

Vendor said when they bought this house whole process took them 3 months (they bought a new build and they did exchange and complete on the same day, as I understand).

We are really keen to move in soon. We would like to complete by mid February so we could do some redecorating and start living there by the end of the month or so. We have some family coming from abroad for Easter and want to have the house ready when they arrive.

How do you think - where do we stand? Is it likely that we will be in the house by mid February? How can we 'make' them to move out? Can we keep them on they words that they would move out asap?

Optimist

Its really up to you if your prepared to wait if not give them a deadline that if contracts have not been exchanged by a set date you will pull out and find another house

ginvzt

What do you think - how strong is our position? I do lilke the house and I wouldn't like to loose it. I do not want to wait (we are renting one bed flat at the moment and I am really looking forward to have a house with more space and a garden). If we set the deadline for exchange of the contracts, do we set the completion date as well? Can they try to move the completion date further after the contracts have been exchanged?

Is it fair to set a deadline of two weeks for the exchange of contract and then to give two weeks for competion or so?

Robert_Sterling

ginvzt wrote:

? Can they try to move the completion date further after the contracts have been exchanged?

NO. The date is stated in the contract which you and they sign.

virgo149

You are in a very good position - FTB with everything in place ready to rock and roll. Now, how strong are your nerves?

I agree regarding setting a deadline - you made an offer based on it being chain free - that wasn't on the sales literature by any chance was it?? Not legally binding but gives you more of a case to push for a deadline. If they are still waiting to have an offer accepted, it's going to be a minimum of another 8 weeks until they are ready to go on their purchase. And as I guess they don't want to exchange with you until that time you are looking at around March/April before all is ready.

If I was in your shoes I would speak to my solicitor and ask them to write formally requesting exchange and completion dates to be agreed NOW. If the vendor won't commit themselves you have several choices.

1. Stick it out if you love the house and do it at their pace.
2. Stick it out but push for a revision on price based on your offer being on a chain free property.
3. Walk away, taking the costs on the chin and look for another property.

Sorry to say it, it's time to get tough - I really don't think they will want to lose you as a buyer.

Hope that helps!

moov-in

ginvzt wrote:

Hi,

we are FTB and we are buying our first house. We finally got mortgage offer and everything else seems going fine. I am not sure if the local searches are back as the solicitor didn't say anything about them, but we got our environmental searches, and although some things might be a bit worrying (like being on the edge of the flood zone 2), we are still going to continue with the purchase.

One thing that makes me worry is the vendors. We recieved a document listing all the things and it says that the sale is dependant on the vendor buying another property and they have an offer accepted and morgage in place.

When we viewed the house, they said they would move in with their in-laws to let us in that the sale was NOT dependent on them finding another house. I have to say that according to the estate agent the house was on the market from about June without any offers and we finally made an offer in the begining of December.

When we talked with the vendor before Christmas he said that they have got an offer accepted on a house and they they would move asap, and anyway sometime during late January/February. Now, on Sunday he said he still haven't had an offer accepted on the property they found last year, and now he was going to put an offer on a different property. And they are now saying they wouldn't like to move twice.

Vendor said when they bought this house whole process took them 3 months (they bought a new build and they did exchange and complete on the same day, as I understand).

We are really keen to move in soon. We would like to complete by mid February so we could do some redecorating and start living there by the end of the month or so. We have some family coming from abroad for Easter and want to have the house ready when they arrive.

How do you think - where do we stand? Is it likely that we will be in the house by mid February? How can we 'make' them to move out? Can we keep them on they words that they would move out asap?

First off you can't make them move out.
Second - I think your chances of a February move are unrealistic with this or any other property as the average time to move is 3 months.

You sound as though you like this property but it seems to me that the vendors could be a problem.

I personally hear 'we'll move into rented or with family' a great deal. When the comment is made I think most people mean it. The problems start when they look into the price and inconvenience of moving all their belongings into storage and then doing it again when they eventually find.

Why not wait a few weeks before issuing an ultimatum and keep looking for a suitable alternative. If you find something better you can weigh up the costs of withdrawing from your present transaction and starting another.

Usually a vendor is very worried about losing a good buyer and will usually find somewhere to go within a few weeks. If after this time the vendor has not found it's then that I would suggest you give them an ultimatum and see what happens.

lush_walrus

I hate to say it, but this is pretty common. There are lots of people out there who think on the spare of the moment that they would be prepared to move out, only to later realise what a hassle that actually is!

Anyway, you really have two choices push them to honour their agreement with you and exchange and complete independant of their purchase or accept it and maybe negotiate a reduction in price or something to compensate. Really it is a matter of how much you want this particular property and how important it is that you move asap as to how you play it, as obviously it could all end in locked horns.

Whatever you do, negotiate all of this through the EA, as that is what they are there for and it always helps to have a 3rd party delivering any bad/complex news.

cruella_de_vile

We marketed our recent sale as being chain free, and assured our buyers that we would be happy to move whenever they were ready to complete, our solicitors however were very reluctant to complete the sale independentaly of our purchase and even told our buyers solicitors that we would not complete prior to Christmas, despite our instructions to the contrary :rolleyes:

After several furious phone calls on both parts we did get it sorted but I wonder whether your sellers are being influenced by their solicitors

ginvzt

Thanks for all you replies (Thanks button doesn't work for me today...)

It was not the solicitor who told us that they wouldn't move, it is the vendor himself. What I don't like is that one time they say they have offer accepted, then the offer is not accepted. When we made our first offer they came back to us saying that they have a part exchange offer on a new build for X amount and wouldn't go lower.

Waiting too long is not an option. We don't want to wait till March - April. As I said, we have some family coming for Easter and we wouldn't be able to accommodate them in our 1-bed flat as we live now. I have started looking around again. If we wait few weeks before setting a deadline, then as I see we would be completing end of February - beginning of March (10 days or so for exchange and 2 weeks for completion - do you think that is reasonable?)... It is so confusing!

barnaby-bear

ginvzt wrote:

Thanks for all you replies (Thanks button doesn't work for me today...)

It was not the solicitor who told us that they wouldn't move, it is the vendor himself. What I don't like is that one time they say they have offer accepted, then the offer is not accepted. When we made our first offer they came back to us saying that they have a part exchange offer on a new build for X amount and wouldn't go lower.

Waiting too long is not an option. We don't want to wait till March - April. As I said, we have some family coming for Easter and we wouldn't be able to accommodate them in our 1-bed flat as we live now. I have started looking around again. If we wait few weeks before setting a deadline, then as I see we would be completing end of February - beginning of March (10 days or so for exchange and 2 weeks for completion - do you think that is reasonable?)... It is so confusing!

2 weeks would be impossible to credit clear and find rental so I'd bet they'd say no way, you want to make it easier for them to go into rental not harder!!! - how about earlier exchange and long stop completion i.e. exchange very soon complete 2 months later may persuade them as they'll have plenty of time to find and sort out own move plus bonus you can give notice on flat AST knowing completion date. Exchange mid feb - complete end march? Plus ask estate agent if they'd be able to find less than 6 month rental for them the min. 6 months puts people off renting when it ocmes to crunch.

ginvzt

barnaby-bear wrote:

2 weeks would be impossible to credit clear and find rental so I'd bet they'd say no way, you want to make it easier for them to go into rental not harder!!! - how about earlier exchange and long stop completion i.e. exchange very soon complete 2 months later may persuade them as they'll have plenty of time to find and sort out own move plus bonus you can give notice on flat AST knowing completion date. Exchange mid feb - complete end march? Plus ask estate agent if they'd be able to find less than 6 month rental for them the min. 6 months puts people off renting when it ocmes to crunch.

On a few occasions they said they would be moving with in-laws who live close by, not looking somewhere to rent. So, all they would need to do find where to store things and move them.