being held to ranson to complete

G_M

Sorry. You're right MrG.

Clearly you should ask them what their monthly rent is and offer to pay the full amount for their final month.

Also find out their annual salary, divide it by 318 working days (365 - 21 days leave - 26 weekends) and double it to give them 2 full days to move & settle in.

On the day itself, arrange for a cleaning company to come in after you've left. And leave a bottle of champagne on the kitchen table.

macaroon9

Thats exactly how I feel, I f I won the lottery I would pay cash for our new home and pull out of the transaction with these but I haven't, we've spent months going backwards and forwards with endless phone calls and e-mails, our estate agent is no help what so ever and in fact seems to do more for our buyers than us and our solicitor seems quite happy to pass e-mails over which should be batted back before they even get the chance to reach us, but thats the way it is, I'm not happy about it, I'd love to leave a little present in the middle of my living room floor before I leave, but I'm a decent person and whilst the most horrendous thoughts have passed through my mind the past few days I have to consider my family and the dream house that we have found to move into. So we shall offer to pay the £150 to cover the weeks rent, I'd like to pay in pennies but apparently thats only legal tender up to 20p so it'll have to be in £1 and 50p's, and if that is not acceptable then its back to plan b which is to tell then to take a running jump.

chopper78

I'd go straight to the 'running jump' option. You have your own removals costs to consider, why pay someone else's? They are buying a house off you for the agreed price, what it costs them to get their is their own problem.

Generali

If they are FTBs then they are probably really scrapping around for every penny, I know I was when I was an FTB. They might just be tight of course.

csgohan4

they'll probably take the lightbulbs from their rental property as well.

pinkshoes

Offer them £100 cash for exchange by 4pm on Tuesday and completion on 18th September otherwise your house goes back on the market.

Kynthia

If you are at the point where you just want this over then try the carrot and stick approach. Offer them a contribution towards the overlap (the carrot) but then tell them that if exchange doesn't happen then you'll pull out and find more flexible buyers and they'll lose all the money they've paid in surveys and solicitors fees (the stick). If they mention about being compensated for unpaid leave in order to move, tell them to use the overlap to move gradually during the evenings and the weekend.

paddy's_mum

Galling though it is, why would you risk the heartache of losing your "dream home" for the sake of a couple of hundred quid and a few keep-a-lid-on-it phone calls?

alchemist.1

macaroon9 wrote: »

Thats exactly how I feel, I f I won the lottery I would pay cash for our new home and pull out of the transaction with these but I haven't, we've spent months going backwards and forwards with endless phone calls and e-mails, our estate agent is no help what so ever and in fact seems to do more for our buyers than us and our solicitor seems quite happy to pass e-mails over which should be batted back before they even get the chance to reach us, but thats the way it is, I'm not happy about it, I'd love to leave a little present in the middle of my living room floor before I leave, but I'm a decent person and whilst the most horrendous thoughts have passed through my mind the past few days I have to consider my family and the dream house that we have found to move into. So we shall offer to pay the £150 to cover the weeks rent, I'd like to pay in pennies but apparently thats only legal tender up to 20p so it'll have to be in £1 and 50p's, and if that is not acceptable then its back to plan b which is to tell then to take a running jump.

Would have told them to get lost.They are just trying it on.

PS Legal tender only applies for payments into court not ordinary agreements

DandelionPatrol

macaroon9 wrote: »

our buyers are first time buyers in rented accommodation, having to give 30 days notice, the people that we are buying off are moving in with family in order to break the chain.

...

We originally put forward a suggestion of the 28th of August, which was accepted by our sellers but not our buyers, our buyers then put forward a date of the 25th of September which was acceptable to us but not our sellers, so we then put forward the 18th of September which again was acceptable to us and our sellers but not our buyers. It turns out that this 30 day notice period was 30 days from when they moved into their rented property which in effect means there actual notice period to us is anything from 30 to 60 days. They have now said that they would consider moving on the 18th but only if we compensate them for the overlap in rent and mortgage and the fact that they will not get paid for leave of absence !!!!! they have then said that otherwise we could not move until the 22nd of October, if our sellers cannot do that then the time scales will just increase by monthly dates around the 2o something of each month.

Any thoughts would be much appreciated, our initial response has been no way!!!! But now my husband is inclined to pay the money just to get it over with.

It would have been helpful if you were aware at the outset of the limitations of rental, then you would not have been in the dark over working out the dates and you could also have placed a bit more pressure on your vendors to accept the 25th on the basis of actual knowledge.

My own take on this is that your buyers have not been playing this fairly to you. They have known all along what their rental period is and should have been informing you of the date of the rental period and the implications, so that you in turn could inform your vendors.

Having been a renter and bought, as a renter it is useful to have some overlap to make the move easier and I think that a renter should bear the loss of up to half a month's rent overlap. But as they have not told you up front what their constraints are, I think that the overlap is their cross to bear.

I don't believe in ultimatums in house buying and selling. I do believe in telling people where things are at and telling them where to get off with stupid demands.

In your case, this goes for both your buyer and your vendor, although what you tell them obviously is geared to their respective positions.

Your vendor. You need to tell them that

• Your buyer is having issues over their rental date
• Your buyer unfortunately has not been open and upfront about the impact of their rental date
• You are applying pressure to the buyer, but you need the vendor to provide some flexibility - if they cannot accept 18 or 25 Sept, then it may have to roll to 22 October
• And ask them if they were certain now that 22 October was the date would this be acceptable
• And ask them to tell you straight what issues they have if completion must occur by a certain date

Your buyer. You need to tell them that

• They should have told you about their requirements to match moving date to rent periods at the time they made their offer or at the latest when it was accepted
• As they have not been open and upfront about the impact of their rental date, they are too late to have any significant influence on the removal date
• The costs arising are as a result of them not being upfront and as such they must bear them
• That if the earliest they are prepared to move is 22 October, your seller may pull out
• That if this happens, you will need to look for another place, so you may go back on the market too to look for a more flexible buyer
• They may then lose all their conveyancing fees.

When you look at the respective positions of buyer and vendor, they all stand to lose if they do not cooperate.


The vendor is threatening to pull out really does not stand up, in that they are moving in with family to break a chain. So staying in their house for longer should not be a real problem, unless they are relocating. And if they are relocating, they would still be hard pressed to get another sale complete by 22 October. So my take on their threat to move out is that it is a stupid pointless ultimatum to try and get some movement. In other words they probably have no real drop dead date by which the deal must be done. Their real concern is to get some certainty.


Your buyers, I think, if they do not have much spare cash, will be very reluctant to lose the fees they will be due to pay if everything falls through. They need to know that house selling takes long enough in any case and it is unacceptable for them to add 6 weeks purely because they were not up front about their rental situation.


Now after all this, either everyone should buckle down. But if they don't, if anyone pulls out, well they were probably flaky in the first place.