help buyer wants me to break chain!!!!

irnbru_2

lauranurse wrote:

Thats an idea do you think they would go that.

Depends how desperate they are.

lauranurse wrote:

The other proble is that my mortgage provider are only willing to give me a months break on the mortgage

Here's what I'd do:

1. Get a written quote for the cost of redemption.
2. Ask you EA what the level of interest they're receiving for properties of your type.

If your type of property is popular (i.e. you found a buyer very easily) then forward the associated costs involved in breaking the chain. Consider it the cost of expedient completion to be met by your purchaser.

If you had real difficulty in finding a buyer then you shouldn't take the risk of loosing them. You could ask the rest of chain to share your redemption cost in order to keep it afloat.

silvercar

lauranurse wrote: »

Thanks irnbru

Thats an idea do you think they would go that. The other proble is that my mortgage provider are only willing to give me a months break on the mortgage so i could face paying early repayment charges on my mortgage for breaking the chain too if it all goes pear shape thinbk im going to just have to say im not perpared to break the chain

So tell them your not prepared to break the chain. I had to do the same; once I'd done it I felt a lot better. Then everyone will know where they stand.

If your buyer intends renting it out then the actual completion date is not so crucial for them AND they are less likely to want to waste the money they have already spent on surveys, mortgages and legals etc.