being held to ranson to complete

Pixie5740

Can't you just tell the buyers to Foxtrot Oscar? They are first time buyers and won't want to lose the money they've already paid out for surveys, mortgage brokers and solicitors so get them to agree an exchange date that works for you or re-market the property. That might put a rocket up their backside.

A rental overlap when buying, or even moving to a different rental property, is a common occurrence which they just need to suck up.

Guest101

G_M wrote: »

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.

This might've been mentioned already but there's 104 days in the weekends, not 26, sorry buddy!

ScorpiondeRooftrouser

You move and complete on the 18th. Let them move on the 25th. The financial effect this has on them will be that their mortgage is paid off a week earlier than it otherwise would have been in 25 years time so I would have thought if anything they owe you money.

If they genuinely can't afford to pay "rent and mortgage" for one week then they shouldn't be moving anyway.

benjus

Most people, when going from renting to owning, accept that they will probably have to pay both rent and mortgage for up to a month. When I was in your buyer's position (and there wasn't even a further chain - just us and the seller) I just wanted to get the process over as quickly as possible, even if it meant having a longer overlap.

orionmoo

We did this earlier this year when we moved, must've wound the people we were buying off right up.

However, we had for weeks and weeks been saying to both our solictor and the EA that as we are in rented we HAVE to exchange by 28th of the month, as we will not hand our one month notice in until we have exchanged. We said IF exchange happens by 28th, we'd be happy to complete 28th of the next month. The 28th of the first month came and went and no exchange, a week later we exchanged but the people we were buying off wanted to stick with the next 28th coming up, whereas we said nope you've missed the cut off it's another 1 month notice period now (so effectively what 1 month and about 3 weeks).

In the end we came to a compromise, we'll complete 2 weeks before our rental period ends if they paid us for those 2 weeks rent (about £300) which the vendor did do.

In our mind, we had informed them all along of the situation and they missed the deadline we set.

macaroon9

well that was very good of you, we heard nothing until we went to give dates, and all of a sudden its we can only move on one day per calendar month, we are in a short chain, only three parties at the moment, however our sellers were going to move in with family to break the chain, they have now found a property and are talking of putting the chains together which means we'll go from 3 to possible 6 or more, and yet our buyers are still insisting on one day, bloody ridiculous to say I'm angry is an understatement and if the decision was mine alone I'd pull out and let them lose their money. We're all grown ups, there is enough information out there about the costs of moving etc, if they couldn't afford it they should never have started the process.

pinkshoes

Did you try issuing an ultimatum as suggested e.g. You will give them £100 to complete on 18Th september and want to exchange by Friday, otherwise your house goes back on the market.

By the sounds if it, your buyers are idiots and it might be quicker to find another buyer.

Hoploz

We had a bit of argy-bargy over dates. We in the middle didn't care when, as long as it happened some time! Our buyer couldn't do the date our seller wanted. Seller had stupidly booked a holiday!

We told our EA and solicitor it didn't matter to us, and let them sort it out between them. We heard nothing more until they has thrashed it out and come up with a date.

Net result, our seller moved her stuff the day before completion, and left for her relaxing holiday lol. The removals co must have stored it till she got home I guess.

What annoyed me was my awkward buyer didn't even move in on the date he had battled for. In fact the house was empty for about 6 weeks afterwards! If my seller ever knew I'm sure she'd have gone absolutely mad!

Anyway, point is, why not just do as we did, tell everyone you don't care what date completion is, and let the professionals sort it out while you have a nice glass of wine. Or the hard stuff, depending how stressed you are!

Hoploz

Also I wanted to add, they are so strapped for cash ... But they will be getting a little windfall when they move out of rented, as they will get their deposit back. They can use this to tide them over.

ess0two

macaroon9 wrote: »

we're already leaving the washing machine, tumble dryer, there is a built in cooker and hob and dishwasher, we're leaving the shed and storage box in the garden, all the light fittings, curtains, curtain poles, blinds and carpets. As well as a built in bed upstairs, I think they've had more than enough from us already. I've totally had enough I want to know one way or another, I want a date for exchange and a date to move and if I don't get both of those by Thursday of this week I think we'll pull out, they're obviously not worth the effort.

Now this...seems they're taking the !!!!!!.


Open your eyes.