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

mystic_trev

How do you know things will be sorted by March? Give the vendors a deadline - They're messing you about!

lessonlearned

You are being messed about and your vendors are behaving very badly. They are also acting very foolishly.

It's time to call their bluff. You have all the cards, mortgage offer in place, no dependent property etc. If they had any sense the vendors should be snatching your hand off. I can only assume that they feel that they can mess you around because you are a FTB and they think that you "won't know any better".

Get your Solicitor and the Estate Agents to start earning their money and get this sale moving.

A word of warning - most mortgage offers are only valid for 6 months. It will be back to square one which could mean more money for surveys, searches etc. Check your position with your lender.

Best of luck.

Doozergirl

Don't just listen to what you want to hear ginvzt

Your vendors were wrong to say they would move to rented and while they may have meant it at the time, the harsh reality is that the housebuying process is so fraught with problems that people say what they think their buyers/vendors want to hear. What they don't realise is that is those false promises that cause the very damage.

Your vendors are not going anywhere until they find a house. They will not exchange with you in two weeks even if you threaten. If they were motivated to move into rented accommodation, they would have made moves to do so already.

They haven't found a house. Your choice is to wait or to continue looking for another house in the meantime, but there is frankly no point in deceiving you that this process is going to take much less than three months, even from now if your vendors have not found a property.

When you say that the vendors only have to find storage move out into a parent's house, is it really only that? It isn't hun. It's putting your life on hold *indefinately*, becoming reliant on others and invading other people's personal space, no matter how kind and loving they are towards you.

I wish there was some way of giving everyone a reality check before they embark upon buying or selling a house. It is incredibly stressful as you hold no control. But nobody else does either - it's a team effort. What you must not do is push too hard because it becomes a nightmare when you are constantly expecting tomorrow to be exchange day. It's so hard but you have to take each day and each obstacle as they come.

Be patient.

lynzpower

I think the thing which rang alarm bells for me is this bit

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.

Are they saying they are wanting this new build now still - im confused. If so you have very little power over the whole thing.

Personally Id walk away, have you had the survey done?

rsykes2000

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.

2 weeks is easily enough to pass credit checks and get a rental place. I signed up for one 2 days ago (Tuesday) (in Leeds) and could have moved in Saturday if I needed to. Having spoken to several agents, the only thing that slows down the process is getting references from employer - I have a fantastic boss who faxed back the reference same day he got the request. As for the credit check, if the agent uses something like TenantVerify, they have a same day service - doesn't justify the ridiculous charges most apply for the service though, TV charge 15.88, my letting agency wanted 141 !!!!!!! pounds, the robbing !!!!!!!s.

ginvzt

lynzpower wrote:

I think the thing which rang alarm bells for me is this bit



Are they saying they are wanting this new build now still - im confused. If so you have very little power over the whole thing.

Personally Id walk away, have you had the survey done?

No, they are not buying a new build anymore (according to them). now they are buying an older house as far as we know. We are waiting a reply from a solicitor to see what she thinks and if there is anything else we need to do.

ginvzt

What do you think if we do this:

There is another house on the same street advertised with the same estate agent. It is very similar house, a bit smaller inside, but - it has 2 parking places instead of vine and is set further away from a public pathway. It is also end-terrace and from the photos looks very nice and I actually like it. AND it is sold with no upward chain!!!!

What I was thinking, is instead of waiting for our vendor to decide what to do and where to move, to book a viewing on this house. My idea is that if the agent is clever, and whants money from Harveys, she would be straight on the phone to them saying that we are looking at another house. Then they should realise that we are not going to wait for them for ages.

lynzpower

definately!
It cant harm to keep your options open can it?

Have you had your survey done on the 1st house?

virgo149

ginvzt wrote:

What do you think if we do this:

There is another house on the same street advertised with the same estate agent. It is very similar house, a bit smaller inside, but - it has 2 parking places instead of vine and is set further away from a public pathway. It is also end-terrace and from the photos looks very nice and I actually like it. AND it is sold with no upward chain!!!!

What I was thinking, is instead of waiting for our vendor to decide what to do and where to move, to book a viewing on this house. My idea is that if the agent is clever, and whants money from Harveys, she would be straight on the phone to them saying that we are looking at another house. Then they should realise that we are not going to wait for them for ages.

I'd go for the viewing and see if it helps you clarify things in your mind in relation to the current purchase. Of course there is a danger you'll love this one to and then you are in trouble!

Just remember, if you pull out of this original purchase, you are also back to square one and are again looking at a minimum of 8 weeks again (unless your solicitor is absolutely fabulous and on the ball).

It's up to you if you speak to the EA about telling/not telling your current vendors about this new viewing - whatever happens I still stand by the fact that they will not want to lose you as a buyer.

I think at the very least, if you don't push for dates yet, you need to push via the EA about any offers they are making. If it still hasn't happened yet (around 7 weeks from your offer??) I would be beginning to worry to.

moov-in

ginvzt wrote:

What do you think if we do this:

There is another house on the same street advertised with the same estate agent. It is very similar house, a bit smaller inside, but - it has 2 parking places instead of vine and is set further away from a public pathway. It is also end-terrace and from the photos looks very nice and I actually like it. AND it is sold with no upward chain!!!!

What I was thinking, is instead of waiting for our vendor to decide what to do and where to move, to book a viewing on this house. My idea is that if the agent is clever, and whants money from Harveys, she would be straight on the phone to them saying that we are looking at another house. Then they should realise that we are not going to wait for them for ages.

After reading more of this thread today it is clear and I agree with Doozergirl, the vendor is messing you around. If they were serious about selling, they'd be pushing not to lose you and offering all sorts of sweeteners while they find.

They sound as if they'll probably be one of the vendors that actually never moves and cost everyone a fortune, they don't need to move they just want to move!

Go and view the other property immediately and not just this one, all that seem to fit the bill.

Really go into the chain if you want a quick move, find out what the vendors situation is, try and find out why they are moving (do they have a reason to move or not), try and find out if they need to find a property or have they already found one, if they have is it chain free.

Basically you need to know that the person you're going to buy from really has a NEED to move.