House sale agreed - buyers getting impatient

tgon

The chain rattles and groans at every stage and the constant tension of one of lifes biggest decisions adds to the forboding weight on our mind. Being the middle link of a chain is a wretched place to be. In spite of the anxiety, facts remain that, in England, anyone call pull out at any time for any reason and there is very little anyone can do about it.

I'm in a similar position but cannot accept choosing to become homeless as a remedy to losing my impatient buyer. EA's want the chain to work - its how they get paid. Same for solicitors. Nothing to do with how you feel. If a buyer really does'nt feel they are getting best value on their big-life decision, including the exit/start again costs, then they will leave. The pressure from idle threats does nothing but rattle the chain more. The drama is in the waiting and false expectations set every scene.

We cant influence what we cannot control so please try to look at things more pragmatically. At best it will happen - at worst you will still have a safe home for your child and the chance to try again.

bingobangobongo

DRP wrote: »

As I posted above, why not exchange?

So basically you mean exchange contracts but stipulate a completion/moving date of October?

I would have to also then exchange the house I would be buying, as I would not want to sign a contract stipulating that I had to move out, and then the vendors of the house were are buying pull out...?

DRP

We recently (last year) exchanged on our sale with a long completion date (3 months in the future) as our FTBs were threatening to walk.

The delay was caused by our vendors ("we're chain-free, no we're not not chain-free" etc etc), and we exchanged with them for our purchase a several weeks later. We simultaneously set the completion date (with the agreement of the FTBs obviously) for both transactions to be just a week ahead.

It is worthwhile but depends on your motivations. Basically the FTBs wanted the security of knowing the purchase was going ahead, and we wanted to sell to them because they had made a great offer.

My point was that by doing this it will buy you time to either purchase or rent a new place.

suziqqq

funny how estate agents always say move out or lose your buyer just thinking of their commission as usual. I took me 5 months to buy an empty house and the first time buyers at the bottom of the chain threatened to walk many times. They stuck with it in the end so hang on in there and good luck

Thrugelmir

duchy wrote: »

The buyers offered in June and the OP either didn't know or didn't tell that their buyer didn't want to move til the end of October ?

Chains take time to put together. Not everybody starts the process at the same time. Sell then offer. Sell then offer. Sell then offer.