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Chain collapsed - need opinions on an idea...
Tearful1
Posts: 25 Forumite
Hi all,
Due to exchange this week, but the bottom of chain collapsed today. Totally devestated, but have an idea..but it could be really stupid (!), so appreciate your opinions.
Basically the chain was like this: Bottom of chain buying £200,000 house, that owner buying my flat at £160,000, us buying house at £300,000 whose vendors buying New Build (their house is being taken in Part Ex) at £450,000.
I was wondering if there was any way that instead of the builders taking the house we are buying as the part exchange, that they could buy my flat and then we would use that money to buy the house we originally had wanted at the price agreed. The house they are taking as part exchange had been on market quite a while and we were the only ones to offer on it, so I'm hoping they would still be keen to sell quickly (the new build is ready and moving supposed to be early Jan) and if they were able to buy my flat instead they would release more of their money than having a £300,000 one sitting on the market maybe?
I know only the builders will have the answer, and it's probably a no...I'm just trying to grasp onto last bit of hope before giving in to the fact we are going to lose our dream home. Does anyone have any reasons why this definitely wouldn't work, or even more any one who thinks it is worth suggesting??
In the meantime I have put mine back on market this afternoon, but I know it will be slow over xmas :-(
Due to exchange this week, but the bottom of chain collapsed today. Totally devestated, but have an idea..but it could be really stupid (!), so appreciate your opinions.
Basically the chain was like this: Bottom of chain buying £200,000 house, that owner buying my flat at £160,000, us buying house at £300,000 whose vendors buying New Build (their house is being taken in Part Ex) at £450,000.
I was wondering if there was any way that instead of the builders taking the house we are buying as the part exchange, that they could buy my flat and then we would use that money to buy the house we originally had wanted at the price agreed. The house they are taking as part exchange had been on market quite a while and we were the only ones to offer on it, so I'm hoping they would still be keen to sell quickly (the new build is ready and moving supposed to be early Jan) and if they were able to buy my flat instead they would release more of their money than having a £300,000 one sitting on the market maybe?
I know only the builders will have the answer, and it's probably a no...I'm just trying to grasp onto last bit of hope before giving in to the fact we are going to lose our dream home. Does anyone have any reasons why this definitely wouldn't work, or even more any one who thinks it is worth suggesting??
In the meantime I have put mine back on market this afternoon, but I know it will be slow over xmas :-(
0
Comments
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Easy way to find out.
Ask them.
As you say, they will know, we can only guess.
It makes no difference to your vendors, they are sold no matter what. The builder may welcome the opportunity to realise more cash immediately.0
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