Vendors - holding all the cards

razza100

Would appreciate some advice, or perhaps just need to be calmed down...

The vendors have been a pain in the backside from the outset. They originally agreed to sell their house to another couple, who hadn't even put their property on the market. We viewed and made offer on the same day. Took them 4 days to come back and say no.

A few days later our flat sold. Following a lengthy negotiation with the vendors they finally realised that our offer was the best and that we were in the best position to move forward (we had sold and no one else had!)

Then they required me to be financially vetted, via the estate agents financial advisor (after I had a mortgage offer) to make sure all was ok.

So, I moved out of my flat 2.5 weeks ago and currently in temporary accommodation until 27th April. I made it very clear from the outset that we must complete on 27th April. Initially this all seemed fine and acceptable. My frustration has crept in during the last couple of days. Their solicitor is not returning calls from mine, the vendors are not replying to my polite emails (merely asking for an update).

They are moving into another property and I would guess that is where the delay is coming from, but I don't understand why they can't tell me that. I am not in a position to extend my temporary accommodation and am wondering if I can play hard ball with the vendors and give them an ultimatum?

I had to jump through hoops for them, and am finding throwing my toys out of the pram tough not to do!

kingstreet

Tell them completion on 27 April is the only conclusion you'll accept and you wish to see exchange of contracts take place asap to confirm that.

Tell them you will withdraw from the purchase if this doesn't happen and be prepared to follow through this threat if you make it.

You don't really have any other options.

ILW

Possible they have recieved a better offer.

GAH

Fully agree with Kingstreet above.

Put an ultimatium to them that if things don't happen by the 27th you will pull out, but only do so if you will follow through, as if time elapses and its an empty threat, they know you will then not pull out.

Unfortuantely some solicitors and EA's are not too hot on communication, which is a big factor in a lot of deals falling through.

Ivana_Tinkle

We're on the other side of this! (Although we are returning phone calls from our buyers - every day - and have never messed them about, so not quite the same!)

It's v easy, when you're desparate to move, to convince yourself that everyone is playing games and conspiring against you. Ultimately, if your vendors are trying to resolve queries about the property they're buying, or are waiting for local searches, or their mortgage offer, all you achieve by threatening to pull out is potentially losing this property and having to start from scratch with another. Nobody can ever guarantee a completion date from the outset. If you thought it was guaranteed, and moved out of your flat on this basis, then you've been v badly advised.

I'm not saying don't try and chivvy them along and, again, not returning your phone calls is awful, but you have to work on the assumption that they want to move too or the whole thing falls apart!

cattie

I'd say the ultimatum is the way to go. When I sold my last house & the vendors of this house kept moving the goal posts re completion date, the buyers of my house gave me an ultimatum of be out by, or else it's all off.

The vendors of this house tried to stall again when given the final date that they needed to agree completion for, but when they understood I was walking away unless the deadline was met, they soon changed their minds.

sirmosh

If someone else is holding things up further along the chain then there's nothing they'll be able to do about it. Likewise withdrawing won't help you since you'll still have nowhere to live. You can try making a threat of withdrawl but it's quite possible they won't be able to move anyway so nothing will happen.

Ivana_Tinkle

You don't mention in your original post: are you actually ready to exchange today? You certainly can't make any threats if you're not!

razza100

Yes, ready to go!

Yorkie1

sirmosh wrote: »

If someone else is holding things up further along the chain then there's nothing they'll be able to do about it. Likewise withdrawing won't help you since you'll still have nowhere to live. You can try making a threat of withdrawl but it's quite possible they won't be able to move anyway so nothing will happen.

True, but the vendors aren't saying what the problem is at all so it is pure speculation as to whether this is the vendor's fault or not.

At the very least the vendors should stay in contact so that others can make informed decisions.

razza100

Spot on Yorkie1 - that's the root of my frustration. It's not as if I'm bombarding them. Sent one email today and the other one last Friday...