Vendor changing deal at last minute

cajef

marlot wrote: »

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.

Works both ways though, I had an offer on a property then my purchase fell through, the buyer of my property tried to get money out of me for additional rent they would have to pay.

I was in no rush and told them no chance so they withdrew, five weeks late I sold with a higher offer.

King_Slayer

OP,
Sorry to hear that you are experiencing issues with the vendors. My vendors told me they had an offer accepted on their purchase and were read to proceed. I found out after my mortgage was offered that they had just had an offer accepted. Moral of the story- Never trust the vendors or their EA. They will say almost anything to benefit the sale!! Also you can almost guarantee that they will refuse to compensate you for 'Your rent'charges.

My mate had the same issue with her buyers and instructed the EA to put the house back on the market. The sellers immediately accepted that they would cover the full cost of their rent.

Some good advice given above, make a decision and stick with it. Good luck.:)

System

I wouldn't really try to negotiate based on rent costs in the first instance. It just makes their stance of buying seem legitimate.

In this situation I would only see two options. Either stick with it or call their bluff. If they have found an amazing home then will they risk losing it if their seller pulls out? It depends on how quickly they could find another buyer and how much they love the house.

End of the day you are probably as far away from exchange if you continue with them purchasing as you are with finding something new. It just depends how your local market is on whether you hold the bargaining chips or them.

DRP

ADGJL wrote: »

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

There is no legal recourse, and this kind of thing is par for the course (as others have pointed out).

The only real option you gave is to issue an ultimatum that you are prepared to go through with.

In our very similar situation, we had a mortgage offer about to expire and I was changing job (therefore no new mortgage for potentially 6 months), therefore we just gave them the final date and told them the deal had to be done by then.

In our case the threat to pull out was real, but I'm not sure I'd have the nerve to actually go through with it (and lose £hundreds) if the deadline hadn't been set by my lender...

average_joe

start looking elsewhere or re-negotiate the price.