Completion Date???

Manual_Reversion

It sounds to me like your vendor's vendor is cracking the whip to get on with the sale, and your vendor passing the buck to you to make it happen quickly. This will cost you extra rent that you wouldn't otherwise have to pay.

Your vendor's threat that they will pull out and find another buyer sounds like a bluff to me, as it will make her situation worse with her vendor, since she will then have to start from scratch finding a new buyer and will delay the chain even more.

I think you have to soak up some of the liability since you terminated your tenancy before exchange, although I can understand why you did this.

Personally I would explain through your solicitor what it would cost you financially to complete this week, and offer to meet halfway with your vendor for the £925. It's a much better personal gesture than simply digging your heels in, which will just antagonise. Only you can weigh up how much you want the purchase to proceed versus the costs of having to start again with a new property (lost solicitor fees etc etc).

In the grand scheme of things a £450 loss to both you and your vendor is pretty trivial in my opinion.

Good luck!

beej71

I agree, I've agreed to accept an offer of going halves on the costs incurred by moving with 4 days notice (mainly as she has threatened to put it back on the market).

However the snag now remains of getting it all done by Friday, with solicitors still undertaking the last few leasehold enquiries. If it doesn't get done by Friday, the vendor will have renegotiate her mortgage, will lose her onward purchase and will put the flat back on the market as the agents have told her she will get more for it than we paid. So we'll lose the flat and about £2000 in fees etc which will mean that's our flat buying dream over with for a year or two until we can save up again. It's a horrendous process.

Fingers crossed though and thanks for your advice.

hazyjo

Her mortgage provider should be able to extend the mortgage offer - although she's left it a bit late! If the worst comes to the worst, she would have to apply for another one which shouldn't take too long seeing as they have all the info there. Will cost her the fees, etc again, but that's her loss.

Unfortunately nothing is guaranteed until exchange and it's quite common for people to lose money cos of chains collapsing. A down side of the England/Wales system!

Good luck, fingers crossed!

Jx

p00hsticks

beej71 wrote: »

Thanks for all your replies, very helpful. No exhchange or completion date has been discussed up until yesterday and I am now given 4 days to organise a whole house move and costs on top of that, with no time available to take off work, no notice to give to utilities etc and then having to pay a month's mortgage on top of my month's rent.

But you don't have to "organise a whole house move in four days". As you have said, you are paying rent on your flat for the next month. So what is to stop you continuing to live there for a few weeks (as you were intending to do anyhow) after completing on the house ? By all means ask the seller to compensate you for the additonal cost you are incurring in having to pay both mortgage and rent for a month, but personally I'd embrace the fact that you will be in a position where you can gradually sort some things out (e.g. utilities, carpet cleaning , etc) in the new property whilst still living in the old, rather than trying to do everything in one day.

banwa

I'm with pinkcheshirecat. Have you asked if they are willing to drop the price to meet some of the double rent/mortgage costs?