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

ginvzt

moov-in wrote:

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!

Oh boy! were you guys right! :cool:

After diddlying some more days, and pressurising the EA to get the operation going for the end of Feb, it looked like things were moving, as the vendor received their contract of purchase, their survey, their searches. Apparently only a couple of questions needed to be resolved on their side.

Last Friday (16/2) the last drop fell: the estate agent called me to tell me to call my solicitor. So I do, and she tells me the EA has been instructed to say that the Vendor would be prepared to exchange by the end of Feb if WE would pay THEIR early repayment charges on the mortgage, 700 £.

Are they taking the P155 ????

I was so furious, that I called the AE (as the vendor doesn't want to talk to us directly) to tell her what unprofessional, time-wasting rubbish operation this is. What do the vendors want me to think? that wife (a librarian, btw) doesn't know how to read a contract and only found out about the ERC just last week? or that husband (a chartered accountant, btw) doesn't know how to add up his moving costs or his timescale? Why wasn't this mentioned when our offer was accepted on the 4th of December, and it specifically said exchange by end of Jan and completion asap? Grrrrrrrr.......!!!! :mad:

[sorry, just needed to vent..]

rach29

"Are they taking the P155 ????"

In a word YES!!!

No wonder you need to vent. They are pulling your *****

I would be tempted to tell them that the deal is off (even if you dont mean it) unless they confirm exchange within 14days & that you will not pay ANOTHER PENNY! I would also make sure the EA tells them that you are inches from walking away & how lucky you are that you haven't already!

It's time to let them know you are prepared to get tough!

Grrr I'm so furious on your behalf:mad:

rach29

Hmm just re-read your last post & realised that they NEVER intended exchanging end Feb because they KNEW they would have to pay ERC on their mortgage. When you talk to the EA you need to ask when the ERC period ends, it may not be til March or even April & they are deliberately holding things up to avoid this fee. B******S!!

boardster

Me and supermumno1 been having very similar problems, offer accepted start December, sellers moving to rented while looking to buy new property wanted quick completion and all our finances in place and ready to buy. Suddenly end of January sellers pulled out of sale. we love the house and not seen anything else as suitable for us.

EA said that sellers discovered £13000 redemption fee if mortgage not ported within 3 months of sale. (How do you just discover this!!) Told EA we could be flexible timewise if neccesary and to arrange meeting with Sellers, we went around and they said had 2 x sellers back out on them and panicked. They mentioned possibility had undersold property as well but quoted original prices and recent sales from nethouseprices which stopped that conversation. Now agreed trying to get all paperwork completed for exchange asap and then to put a 6 month deadline on completion.

Seller said 6mths too much but we thought best to have a deadline.

Bossyboots and our sols not too keen on the extended time to completion as a risk of other problems but think will just go with it.

If there was something just as suitable would be viewing and putting the pressure on asap.:mad:

Hope your sellers get their finger out!!!!

ginvzt

Well, it is monday morning and we will try to play the game.
We wrote a letter over weekend revising our offer as we feel that they reopened the negotiation. In previous offer letter we put that we would like to exchange asap in January and complete within a month and they haven't one that. So, no we decided that if they exchange by Wednesday - the offer remains the same. If they sign by the end of the month - the offer is £2K less. After that, for two weeks the offer is £5K less than original. Also, completion must be done within a week of exchange.

We are going to run it by our solicitors and see what they think. But honestly - as much as we want to complete and get this house, there are plenty of better houses around!!!

chriss1979

ginvzt wrote:

Well, it is monday morning and we will try to play the game.
We wrote a letter over weekend revising our offer as we feel that they reopened the negotiation. In previous offer letter we put that we would like to exchange asap in January and complete within a month and they haven't one that. So, no we decided that if they exchange by Wednesday - the offer remains the same. If they sign by the end of the month - the offer is £2K less. After that, for two weeks the offer is £5K less than original. Also, completion must be done within a week of exchange.

We are going to run it by our solicitors and see what they think. But honestly - as much as we want to complete and get this house, there are plenty of better houses around!!!

Fair play mate! Good luck :T

seven-day-weekend

What a stressful time for you....but if it was me I'd actually want them to drag their feet a bit now, so that I got the house for £5 grand less!

Good luck, please keep us posted!

Doozergirl

LOL! This is going to make them sit up!

They've messed you around enough and yes, I agree that they have reopened negotiations and it's cheeky as hell! AS long as your are prepared to carry this through and walk away if they don't agree, then I say go for it.

Lets see how the shoe fits on the other foot!

Majik

ginvzt wrote:

Well, it is monday morning and we will try to play the game.
We wrote a letter over weekend revising our offer as we feel that they reopened the negotiation. In previous offer letter we put that we would like to exchange asap in January and complete within a month and they haven't one that. So, no we decided that if they exchange by Wednesday - the offer remains the same. If they sign by the end of the month - the offer is £2K less. After that, for two weeks the offer is £5K less than original. Also, completion must be done within a week of exchange.

We are going to run it by our solicitors and see what they think. But honestly - as much as we want to complete and get this house, there are plenty of better houses around!!!

*Applause*

Absolute genius, and a great attitude to have. I have noted this for future reference when we move

Majik

Searcher2

Just read this post. I am being nosey - haven't you been to see the house nearby which came up for sale?

My sister was being messed around like you were. However, they messed them about one too many times, sister went to look at another house and bought it without any hassle at all... and quickly. Best move she could have made.

When it came to move again (family expanding) a similar thing happened. My sister in the end gave them a week to accept the offer or not - and they didn't... it seems the vendors didn't actually want to move at all! Instead my sister stayed where they were and extended their own property.

When I was selling my first house to a buyer without any property to sell and the funding ready I got more peed off as it was over 2 months and still nothing was happening... 'missing paperwork'. Threatened them with pulling the deal (and meant it too) and then it got sorted straight away. If I sell again I will make sure that I accept an offer based on it being completed by date xxxx.

I'd still be tempted to buy elsewhere - if they are being difficult now there is still time for them to give you more hassle.