Delay due to top of chain buying a new build

cheers_drive

My wife and I are currently in the process of relocating from Bristol to Cambridgeshire which is taking longer than we thought: It has been 3 months to the day now since we agreed on the sale and purchase but we still have no idea when we can exchange let alone complete.

Our buyers are coming from rented, our vendor is elderly downsizing,she didn't but the house on the market until we agreed to buy but we wrongly assumed the chain above would be easy as she was downsizing. As it it there are 2 parties above her and the top of the chain is buying a new build which is now causing the delay. All other parties in the chain are ready. Initially there was an indication that they may be ready to complete 14th Dec but it is now clear that their new property is not ready and they can't / don't want to set an exchange. I've heard of nightmare situations of new builds being months late, it being winter I imagine the delay risk is even greater.

Adding to the frustration is fact that my wife starts work in Cambridgeshire in early Jan. Some friends have kindly agreed to put her up for now but without knowing a completion date it is not reasonable do do this beyond a few weeks.

Our estate agent has chased several times but the situation at the top of the chain is still not clear. The current strategy being pursued is to persuade our vendor to break the chain and go into rented but to far she has refused. Is there anything else we can do is it just a case of waiting?

anselld

Start looking for other properties and make sure the vendors/agents know. It might worry someone enough to go to rental.

Or go to rental yourselves.

cheers_drive

We considered going rental but I'm porting the current mortgage over so it's not an option. It's us and our buyer than need to move so the pressure is on us which is annoying as we aren't the ones holding it up.

All we really need to know is when the move is going to happen and we can plan around it. There is a lot of difference between 6 weeks (manageable) and 3 months (need to extend mortgage offer, my wife needs somewhere to stay mid week).

Have now told the estate agent to set an ultimatum that a date needs to be set this week.

moneyistooshorttomention

cheers_drive wrote: »

, our vendor is elderly downsizing,she didn't but the house on the market until we agreed to buy

The current strategy being pursued is to persuade our vendor to break the chain and go into rented but to far she has refused. Is there anything else we can do is it just a case of waiting?

I don't fancy your chances of trying to push your vendor out into rented property to suit yourselves and the clue is in that first sentence from your quote ("she didnt put the house on the market until we agreed to buy").

I am a single female (yep...the "female" bit is relevant - as there are still people who think a woman can be "persuaded" to do what is required more easily than a man or couple could be) and I am following what I imagine is the same strategy as your buyer. That is - the house is on the market now UNofficially - but it would quickly go to "officially" if a suitable buyer came along - rather than waiting till early next year to "go official". Part of the reason for that is that I feel wary that others might think "Ah...it's just one person on her own and a woman at that. I think we might be able to push her out into rented - though wouldnt want to try that with a family or couple".

It may be that your vendor is savvy enough to realise that she is more vulnerable than a lot of households to attempts to push her out into rented in order to help out others and I estimate your first sentence is a clue that she is aware she might experience extra pressure. One estate agent already tried to pressurise me into being prepared to go into rented - and walked out the door with a "flea in his ear". The one I have chosen come the time is a woman herself and was told that "rented just won't happen" and I will be using her because her response was "I understand...and of course you don't want to".

I'm only surprised that she hasn't told her estate agent to just refer to the seller of her house as "they"/"them" and make out its a couple selling - as I'm now contemplating doing that in order to hide the fact in the first place that it's a lone woman selling - so I'm at less risk of anyone trying to "push me out" - but maybe she couldnt do that (due to her house having a lot of obviously "female" knicknacks - unlike my very "neutral/cant tell what sex owns it/could be a couple" house).

EDIT: have just seen your bit about "ultimatum -- this week" - presumably to her. You may have just shot yourself in the foot.

cheers_drive

I'm not sure why you think this is a female persecution thing, it certainly isn't. It was the EA that suggested that she should break the chain not us.

Personally I think the top of the chain who's buying the new build should go into rental if the house isn't ready, trouble is that they are harder to influence as they are at the top a few links away.

moneyistooshorttomention

Well...it was an estate agent who thought I should be a "patsy" lined-up ready to suit other buyers in any chain I get by moving into rented.

I understand the logic of this - ie "She doesnt have children or pets to house or someone else demanding to be near their workplace. There is only her to consider". It does make logical sense in an estate agents eyes - and that is why I WON'T be using this particular estate agent in the first place:D. In MY eyes its obviously more important for a lone woman to feel safe/secure in their home than a couple or family - as she only has herself to rely on.

littlesparkles

I'm buying a new build and had to be given 10 working days notice of the move in date (completion). So that means the top of your chain is unlikely to move in 2012. The last possible completion date for my builder would have been 24th Dec.

I gave my buyer a long stop date so that meant we were able to exchange. This is maybe something to consider.

Ivana_Tinkle

moneyistooshorttomention wrote: »

"She doesnt have children or pets to house or someone else demanding to be near their workplace. There is only her to consider".

Nah, take my word for it, the kind of people who'd try to bully you would be equally pushy with a family with 3 young kids and pets! ("Can't you just move in with family? You could all fit in one room...")