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Greedy vendor any ideas?
loanranger_4
Posts: 164 Forumite
I am buying a tenanted house, the tenants were originally due to move out at the end of May. However a couple of weeks ago the tenants 'did a deal' with the vendor to move out this weekend so that we could exchange/complete next week. This suits us as we will have the time off etc.
So I have been running around trying to get everything in place. However the agent called yesterday to suggest the end of May as he was no longer sure when the tenants were going to move out (a lie! ).
I visited the tenants today and they told me that they are willing to move out this weekend (and they let with the same agent ) but the vendor still wants to charge them for the rent until the end of the month (i.e. maximise revenue from them), so they are rightly staying put.
We are desperate to move to this house ( as we have been living out of suitcases these past few months ).
All ideas of how I can expedite this process welcome.
So I have been running around trying to get everything in place. However the agent called yesterday to suggest the end of May as he was no longer sure when the tenants were going to move out (a lie! ).
I visited the tenants today and they told me that they are willing to move out this weekend (and they let with the same agent ) but the vendor still wants to charge them for the rent until the end of the month (i.e. maximise revenue from them), so they are rightly staying put.
We are desperate to move to this house ( as we have been living out of suitcases these past few months ).
All ideas of how I can expedite this process welcome.
Z
"It is better to fail in originality than succeed in imitation." Herman Melville.
"It is better to fail in originality than succeed in imitation." Herman Melville.
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Comments
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loanranger wrote:I am buying a tenanted house, the tenants were originally due to move out at the end of May. However a couple of weeks ago the tenants 'did a deal' with the vendor to move out this weekend so that we could exchange/complete next week. This suits us as we will have the time off etc.
So I have been running around trying to get everything in place. However the agent called yesterday to suggest the end of May as he was no longer sure when the tenants were going to move out (a lie! ).
I visited the tenants today and they told me that they are willing to move out this weekend (and they let with the same agent ) but the vendor still wants to charge them for the rent until the end of the month (i.e. maximise revenue from them), so they are rightly staying put.
We are desperate to move to this house ( as we have been living out of suitcases these past few months ).
All ideas of how I can expedite this process welcome.
Pay the tenants to move out? I can't see any other way out.0 -
meanmachine wrote:Pay the tenants to move out? I can't see any other way out.
I would if I could take that money off the house price !
Z
"It is better to fail in originality than succeed in imitation." Herman Melville.0 -
If you haven't exchanged yet then you could try simply informing the vendor that you are going to reduce the price by the amount of the rent he is getting for the additional period, given that it is delaying your purchase of the property. i.e. he ends up in the same position whichever option he chooses.
To be honest though I would just wait until the end of the month. Much tidier and it isn't really that long to wait.0 -
Threaten to back out as you cannot wait any longer.
Tell him you need completion by next weekend - if he cant offer you this, sadly you must walk away - and you want an answer this afternoon!
See the little b*gger jump and take note! He isnt stupid just greedy, if you walk he knows he's got one hell of a job putting a deal together - the tenant has left, you have left, he's stuck with no rent and no buyer..not good for him. and all for 500 -600 quid.... He'll see sense.0
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