Seller stalling and refusing to set a completion date

perfecta

Hi, We are in the process of purchasing a house from a divorced couple: she is living in the property and he's moved out. She has now pulled out of 2 houses (it has been over 4 months since our offer was accepted).

Our buyer (an investor) has given us an ultimatum: whether we complete in 6 weeks or he is pulling out. Our seller has not found another property to buy yet and is refusing to go into temporary accommodation. She is also refusing to set a completion date. We think she is a bit too comfortable in the house and subconsciously (or consciously!) doesn't want to leave.

We don't want to lose our buyer who offered us good money on our house. We are buying with a mortgage so there is also an issue of our mortgage offer expiring if we lose our buyer. Our dilemma is: do we pull out, cut our losses and try to quickly buy a house that is not as great or do we stick it out till the end hoping she will find a house soon? Are there ways of pushing the seller into agreeing to the completion date set by our buyer?

Many thanks

hcb42

The word divorce and a reluctant seller would put me off personally. You could deadline them, and then walk away. Dont leave it open ended.

Thrugelmir

hcb42 wrote: »

The word divorce and a reluctant seller would put me off personally. You could deadline them, and then walk away. Dont leave it open ended.

There may well be other complications with regards to the divorce settlement. As will require both parties to agree to the sale. The seller most likely cannot commit.

inatdeepend

From the experience of my brother, who tried once to buy a house from a couple going through a divorce, get down the estate agents tomorrow morning and start looking at other places if you really don't want to lose your buyer.

By all means give her a deadline, but don't wait until then - unless you are very lucky it will expire and nothing will have happened.

(Just to add - my brother ended up buying a very similar property two doors down for a much cheaper price. The divorce house eventually sold - two years later - and the new buyer said similar to my brother how painful it was trying to buy it and get anything sorted out)

Snakey

You can't force them to do anything, all you can do is threaten to walk away - and if the occupier of the property secretly wants you to do just that, then you have no leverage at all.

I'd walk away, buying a house is stressful enough even when the vendor does want to sell, I can't imagine how horrible it would be if they were actively trying to scupper the deal.

Do you have anywhere else to stay for a few weeks or months, so you can sell your current house on schedule but without having to settle for a rubbish one to buy?

Paul_the_Painter

Or rent your "old" house from the investor?
You'll be chain free for any other properties, and in a good position to be firm with the owner/occupier of the house you want to buy.
E.g. complete by February 28th or price reduces by £700-£1000 per month