Vendor changing deal at last minute

rosie383

OP did you have it in writing that they would go into rented? If not ...

ADGJL

It was all contained within emails to the estate agent. I believe the EA also sent a letter containing the info after it was accepted.

However, its only an offer. Its not binding on either side.

mrginge

moneyistooshorttomention wrote: »

I'm referring to OP making a claim for the costs incurred because of these vendors to be deducted from the price they had agreed to pay for the house. That means purely making the vendors pay the extra rent they have caused to be payable - and not asking for any compensation (merely getting their extra costs covered).

Don't forget the emotional distress the OP has gone through too.

:rotfl::rotfl::rotfl::rotfl:

cajef

moneyistooshorttomention wrote: »

That means purely making the vendors pay the extra rent they have caused to be payable

I know where I would tell you to stuff your offer if you tried to do that to me.:rotfl:

marlot

cajef wrote: »

I know where I would tell you to stuff your offer if you tried to do that to me.:rotfl:

As my vendors tried to do to me.

A week later they rang me offering 2.5k off, then 5k, then 7.5, then 10 and finally 12.5k off.

If they'd just gone halves on the additional rent at the outset they wouldn't have lost their dream house. I bought somewhere else.

Thrugelmir

ADGJL wrote: »

We're now ready to exchange. However, the vendor has now found a house they like and is insisting on linking the transactions.

Did they have plans in place for a property to move to? Sometimes can be as difficult as finding somewhere to buy.

ADGJL

They were all set (or claimed to be) on moving into their parent's house temporarily

Surrey_EA

ADGJL wrote: »

Agreed a price.
Vendor agreed to fix a couple of very minor issues.
Vendor agreed that, to stop negotiations, they would move out and break any chain to aid a quick sale.

We're now ready to exchange. However, the vendor has now found a house they like and is insisting on linking the transactions.

In my mind this is absolutely not in accordance with our offer. The fact they weren't in a chain was used in negotiations.

If I had received £1 for every time a vendor said they would move out and not tie a purchase in, I would currently be sunning myself on a beach in the Caribbean!

It's not good of the vendor to move the goalposts like that, but it happens all the time I'm afraid.

car0line123

My vendor did exactly the same thing! When we pushed and tried to stay firm on the original offer , we were told that they would have gone renting if they had not found anything (of course?). However, once they had found their dream house, they could no longer afford to pay for 2 removals and the storage cost, let alone rental.

Most rental agreements are for a minimum of 6 months, with 2 months notice, so it is not terribly flexible anyway.

In our case, we had to consider the cost of searches/ survey/ mortgage agreement already paid, and decided to wait. We could have started looking elsewhere, but no guarantee to find a property truly chain free, or without serious issues raised by another survey. (Nothing we like on the market either!)

It is very frustrating, very unfair, we have a lot more to lose than the vendor (the prices are still raising in this area!) but it is not malicious and we keep pushing to make sure the chain keeps moving. Fingers crossed!

audigex

ReadingTim wrote: »

What matters more - the destination (ie the house) or the journey? (ie whether you're in a chain or not).

Finally, why is paying rent a financial burden when (presumably) paying the mortgage on the new house not?

It may be the amount of rent

My mortgage is looking set to be roughly half the amount I've been paying in rent, despite being on a much bigger property.... Even if rates rose very significantly, my mortgage would still be less than the rent.