Vendors delaying exchange/completion - foulplay

Housebuyinghell

I'm truly at my wits end.

I was fully ready to exchange/complete two weeks ago (as requested by the vendor), meant to be done simultaneously as their was "no chain". They cancelled this giving zero notice/reasoning and it was pushed back another week, the same thing happened again.

This week their solicitors have finally informed that there is actually a chain and this is what caused the delays (whether there was always a chain is anyone's guess!) and the person at the end is now demanding completion in two weeks instead of this week (this was agreed between the vendor and this seller with no input asked from me!).

This toing and froing (booking holidays to complete, removal vans, deliveries, additional rent etc) has already effectively cost me hundreds of pounds, and if it is delayed even more weeks as the end-chain seller is demanding I can expect to lose even more. I need to complete this week but it feels like it is two against one here, but surely they need me cooperative as I'm the start of the chain?!

I'm debating pulling out, but if I don't I'm wondering is there anyway I can get the vendors to pay my additional costs given the misrepresentations made by them/their solicitors re the chain? Do I have any power to demand the completion date I want (this week)?

eddddy

Housebuyinghell wrote: »

Do I have any power to demand the completion date I want (this week)?

It's all down to negotiation.

Your ultimate power is to say "Either we complete this week, or I walk away" - if that's what you want to do.

VALM

Have you relayed all this to your Solicitor. If not how are the other people in the chain to think you are anything but compliant?

AnotherJoe

Housebuyinghell wrote: »

I'm debating pulling out, but if I don't I'm wondering is there anyway I can get the vendors to pay my additional costs given the misrepresentations made by them/their solicitors re the chain? Do I have any power to demand the completion date I want (this week)?

Yes, you can say "since you misrepresented to me that there was no chain, and have cost me £X due to delays due to the chain, I want £y paid in cash or I'm pulling out".

You don't really have any way to demand a completion date it's too variable and at the behest of random factors.

Housebuyinghell

VALM wrote: »

Have you relayed all this to your Solicitor. If not how are the other people in the chain to think you are anything but compliant?

Yes, all along I have relayed with my solicitors and chased their estate agents. And the estate agent had fed back to the vendors at several instances that I want completion ASAP and this week at the very latest so they have effectively just ignored me. I wanted to complete before Christmas!

The difficulty is the vendor's sols are apparently very rude and uncooperative with my solicitors (even their estate agent has admitted they can never get hold of them).

G_M

Housebuyinghell wrote: »

I'm truly at my wits end.
What do you expect? You're buying a property!

I was fully ready to exchange/complete two weeks ago (as requested by the vendor), meant to be done simultaneously
as their was "no chain". They cancelled this giving zero notice/reasoning and it was pushed back another week, the same thing happened again.
sounds normal....

Bear in mind until you Exchange, nothing is certain.

This week their solicitors have finally informed that there is actually a chain and this is what caused the delays (whether there was always a chain is anyone's guess!) and the person at the end is now demanding completion in two weeks instead of this week (this was agreed between the vendor and this seller with no input asked from me!).
So what have you instructed your solicitor with regards to preferred dates, and preferred Exchange/Completion gap?

This toing and froing (booking holidays to complete, removal vans, deliveries, additional rent etc) has already effectively cost me hundreds of pounds,
Never book anything until you have Exchanged. Mad!

That is exactly why most sesnible people have a 2+ week gap!

and if it is delayed even more weeks as the end-chain seller is demanding I can expect to lose even more.
Why? Again - have you prematurely booked things? Your mistake I'm afraid.

I need to complete this week but it feels like it is two against one here, but surely they need me cooperative as I'm the start of the chain?!
If you 'need' to Complete this week (which seems unreasonable) then impose a deadline: "Complete by xx date or I will pull out."

Then pull out if they fail to Complete by your deadline.

Though I suspect this lack of flexibility will result in your cutting off your nose to spite your face.

I'm debating pulling out, but if I don't I'm wondering is there anyway I can get the vendors to pay my additional costs given the misrepresentations made by them/their solicitors re the chain? Do I have any power to demand the completion date I want (this week)?

As above.

You could also say "Complete by XX date or I will drop my purchase price by £XK."

However, doing that would require new contract, and new mortgage offer, and more delay......assuming they agreed, which they probobly would not.

Housebuyinghell

G_M wrote: »

Never book anything until you have Exchanged. Mad!

That is exactly why most sesnible people have a 2+ week gap!

It was a simultaneous exchange and completion (which my solicitor stated would be OK due to their being no chain) which was actually demanded at short notice by the vendors for that specific date. I would have liked the luxury of the two week window.

Now after a severe lack of communication the vendors refuse to exchange until I agree to this future further delayed completion date.

G_M wrote: »

If you 'need' to Complete this week (which seems unreasonable) then impose a deadline: "Complete by xx date or I will pull out."

I've been in the process of buying this house for nearing five months now, and the vendors were well aware I wanted an earlier completion, and since the failed completion a few weeks ago, they have been made well aware I wanted last week or this week. So no, I don't accept that that is "unreasonable" of me. Particularly when it is apparent they or their sols have with-held facts about their purchase/the chain which has muddied the waters, and offered no apology or explanation for them failing to complete on the day they "needed". THAT is unreasonable.

dancingfairy

They sound like a nightmare. All you can do is hang on or pull out. You can issue an ultimatum but that's only worth doing if you do actually intend to pull out.
Hope you get it sorted.
Df

trevormax

Seeing as how I have a bit of a confrontational attitude, by now I would be thinking "I'm not going to get it when I want it so I'm going to screw them over a bit".

It sounds like they have chosen their desired date for two weeks from now and are in a hurry to exchange with that date in mind. Now would be the perfect time for you to start ignoring them for a week (or two). Just enough time to mess up their plans. After all, what are they going to do? pull out?

Granted the above is probably a terrible idea but then again it might be nice to watch them squirm.

martindow

Housebuyinghell wrote: »

It was a simultaneous exchange and completion (which my solicitor stated would be OK due to their being no chain) which was actually demanded at short notice by the vendors for that specific date. I would have liked the luxury of the two week window.

They can demand what they like but both sides have to agree. Your solicitor's suggestion that simultaneous exchange and completion is OK was not good advice and has increased the stress on you.

I would refuse to accept any arrangement without a gap between exchange and completion so you don't suffer expenses from cancelling removal people and to reduce the stress.

Why can't you exchange this week and complete in two weeks time as the vendor (apparently) wishes?

fezster

There's 2 approaches you can take here. The first is you go ahead with the plan they have suggested, and comfort yourself in knowing that in a few weeks time, once you've moved in, all of this will be forgotten.

The second is that you dig your heels in and get your way, even if it means losing out on the property.

I'd suggest a middle ground. Be assertive, but continue to try and be accommodating. Don't refuse to do something, unless you have a good reason not to do it. I'd certainly be having words with any solicitor who advised that exchange and completion on the same day is a good idea. You may not be in a chain, but if you had to make any arrangements beforehand, then the uncertainty it creates was definitely NOT a good idea. Your solicitor (being well versed in these matters) should have discussed these issues with you and advised appropriately.

The other thing you want to ensure is that you do not suffer financially further because of decisions made by your vendor. Try and protect yourself from any outlay as much as possible, and don't back down too easily during negotiations. Remember, the vendor probably has as much to lose as you do at this stage, especially if they are now in a chain.