Our buyer wants us to pay for his storage costs

advice_please_2

So we accepted an offer mid feb. the buyer put no clauses for moving out as he was in rented after a split with his other half an selling their home.

Early march we found a property and offer accepted. But a week later we pulled out due to survey issues. During this time our buyer was trying to push for mid may. Which it may have been possible but never promised.

Having pulled out of first property we had another offer accepted on another house about mid march. So the buyer again still pushing for mid may.

I'm moving conveyancy and financials as quick as I can. Still waiting on final mortgage and never promised on mid may date. But buyer says if we can't move out then he wants priced reduced by £500. I said reducing price then would mean starting paper work process again. So in my mind to keep him on a good side I said I would help pay for fees if that's what he really wants.

Just been told storage costs covered i.e initial £227.60 and then £49.90 (£199/4) per week post.

I don't want to loose him as buyer but feel like I'm being scr3wed over!!!

What's your thoughts?

RAS

is he renting with a contract due to end in mid may?

If so all he need to do is stay there and give notice for mid June.

Anyway, he would be stupid to give notice before exchange.

ValHaller

I think it was rather rash to agree to pay fees on a fairly open ended basis.

The important thing to do is to understand his situation and what his constraints are in terms of moving out. It seems that he has gone ahead and given his notice without having exchanged. But it could be that he is at the end of a 6 month AST and the LL won't let his tenancy roll periodic.

Once you understand what his constraints are, if you can post them here, you will get relevant advice.

thelem

You don't need to do all the paperwork again if the price changes - the time consuming bit is checking out the background of the property and area, which won't change.

Sounds to me like he's exchanged on his marital home, with a completion date of mid may. If you can't complete by that date then he'll need to pay for his contents from his marital home to be moved twice (once into storage, once to your property) and storage for however long the delay is. If that's the situation then I think it's a reasonable request.

However, it's also reasonable for you to say no - the price is the price, but I will move as fast as I can. It's your call on how much you want to keep him as a buyer vs how much that £500 (or weekly cost) means to you.

Ivana_Tinkle

I'd just agree to pay. It's such a small amount of money, in relative terms, plus you've still got a month before you'd have to pay anything - it sounds like there's a fairly good chance you might get to completion by then anyway. If he's been ready to exchange for ages and you've (through no fault of your own) been the one holding things up, it doesn't sound THAT unreasonable a request.

ValHaller

Ivana_Tinkle wrote: »

I'd just agree to pay.

For how many weeks? This is open ended.

advice_please_2

I never agreed but said to estate agent I'm not changing paper work as my mortgage and amount to lend was based on sale price

Also I never agreed on date or paying his storage. But I said to estate agent as I'm not changing paper work go back to him if he's adamant can we work out something on a gentlemans agreement and maybe half, if thu find out actual costs.

But they have come back with the above quotes.

Think I will agree to pay something just on the grand scheme of things its bit huge amount and don't want to loose him, although he's ready to move.

I think they came with mid may maybe because he thinks he's given us adequate amount of time to sort something out and its just an extra month storage costs which he mentions.

If we were in a large chain wander what his response would have been

advice_please_2

ValHaller wrote: »

For how many weeks? This is open ended.

Well initially he wanted £500 off price, maybe that's a calculation of a month storage costs. But good point if it drags I'm not paying for more etc. as I've done everything possible to move things as quick as possible

Just hate the fact that there was no time pressure but once we initiated an onward purchase mid may has been played on

Ivana_Tinkle

ValHaller wrote: »

For how many weeks? This is open ended.

I take your point, but it's not really open-ended because there's a limit on everyone's patience! The OP's not going to end up paying for more than a couple of months, because no buyer's going to wait that long, given that they're (presumably) ready to exchange now. And if the buyer really is that patient then the storage costs is the least they deserve!

anotheruser

But there are plenty of houses out there.
If the buyer is desperate to move then he will move into another house. However he offered on your house.

I personally wouldn't pay anything, I wouldn't think you will loose him as a buyer and as others have said, you may complete on your new house by then anyway.
Buying houses will always include one hold up or another.

advice_please_2

It took us 9 months to find this buyer.
As I never agreed on dates or paying, I'm annoyed. But hey guess he's trying his luck. His original was wanting to reduce purchase price by £500, I guess based on his storage costs quoted.

Not sure what to say to estate agent. Maybe a token of gesture of half way and that's it ie £250. Still not happy about it but as said don't want to loose him.

Also his reason for reduced offer from my bottom like was he said bathrooms need doing. Since then bit of Artex has fallen off in shower room, do you think I should fix it for this hard pushed buyer?