Last minute demand from buyer

moneyistooshorttomention

lichfield22 wrote: »

Interestingly I work in an office where five people have bought houses in the last year and every single one has exchanged either on the same day as completion or the day before, and all couldn't understand why we weren't! It seems like the timescales have got shorter since the last time I bought a house but I can't really understand why and it's a lot of extra stress no one needs.

Fully agree that it's a lot of extra stress no-one needs to have those incredibly short timescales.

For a start-off - it takes time to be sure the removal company one has chosen will be available on Completion Day and, as far as I could make out during my recent move, they tended to need several weeks warning to book the date. If someone goes ahead and books them with not having safely had Exchange first - then that is asking to have to re-book them and land up paying twice for them imo.

Then there's all the utilities, mail redirection, etc to be arranged and, as far as I recollect, they also expect a reasonable amount of notice.

Buyer of my last house was pushing for shorter than 4 weeks and trying to make me feel like I was being unreasonable and I just sat there and reminded myself that I really wasnt at all and was surprised their parents hadnt told them the "facts of life" re all these services/firms needing notice. She was trying to pressurise me - because she'd seen other buyers putting on unfair pressure and thought she could too.

That's the thing - vendors need to put their feet down and refuse to try and have too short a gap between Exchange and Completion. If someone is really planning to buy one's house - they will wait. If they want to act like a selfish spoilt kid - that's down to them - but I don't respond to unfair pressure personally. Any sign of someone trying to be selfish at my expense brings on a case of "heels dug firmly in".

rosyw

moneyistooshorttomention wrote: »

That's the thing - vendors need to put their feet down and refuse to try and have too short a gap between Exchange and Completion. If someone is really planning to buy one's house - they will wait. If they want to act like a selfish spoilt kid - that's down to them - but I don't respond to unfair pressure personally. Any sign of someone trying to be selfish at my expense brings on a case of "heels dug firmly in".

The opposite can also apply, if they're really planning to buy your house they'll move heaven and earth to make sure it happens

When I last sold I was the one pushing, I needed to move, and as quickly as possible. Buyers dragged their feet, their mortgage company lost paperwork which all had to be re-done, however I wasn't going to wait, I gave them a date to complete and wasn't prepared to budge! The replacement paperwork was hand delivered to the mortgage company,who in turn rushed the money through as it was their error that caused the problems, we ended up with less than 48 hrs between exchange & completion. Removal company were on standby, got the go ahead at 3pm on the Wednesday, arrived to start packing a 7.30 am the following day and were waiting at my new place by 11.30 am on completion day, completed at 11.45 am and they'd moved me in by 3pm
It WAS stressful, but for me less so than delaying completion.

Tempestina

We exchanged and completed on the same day as we were buying a repo and our solicitor wasn't happy with the selling bank's request to hold the deposit way earlier in the process than they normally would (they weren't happy to leave it in whatever bank account the solicitors normally use for this, they wanted it in their bank account) and as they couldn't recommend we allow this they advised to exchange and complete on the same day instead so all money went to the seller at the same time as ownership passed to us. We were staying in rented for a couple of months while we did a full refurbishment on the new place anyway so it didn't really matter. But buying a repo is by no means a task for a faint of heart first time buyer. Stressful!

mattk_180

This is like a TV cliff-hanger waiting to find out if the OP managed to exchange or not.


Really hope you do after everything that has gone on.

chelseablue

Im really hoping the OP exchanged today


Fingers crossed!

Jhoney_2

Hold on - she didn't know the importance of exchange!.... w\hat happened to the overbearing/interfering/protective father with all that buying/selling experience?

OP do yourself one small favour if nothing else and take video of the condition of the house before you leave - paying particular attention to all energy sources/outputs. I might go so far as to turn off the water (it's summer after all) and deposit it somewhere nice and secure for future reference!

Get it back on the market, so your own sellers can see that you are done with being messed around - sod the current buyer at this point.

The contract isn't signed so the solicitor is inept, the dad's a nutter and the buyer's not fit for purpose in terms of proceedability....

lichfield22

Drumroll .... The house is back on the market :mad::mad::mad: Having promised the estate agent last night that she'd sort out her deposit and see her solicitor today, the buyer eventually emerged at 2pm and hadn't done a thing. By this time the dad had been on the phone to the estate agent ranting and raving about ME holding things up again. The whole thing is insane. Once he realised his daughter hadn't done her bit, he told the agent that it would help if I would pay for her first year's buildings insurance and a professional cleaner :mad::mad: At that point I told the agent to put the house back on the market.
Position now is that if she comes up with the deposit money by midday tomorrow, we can still exchange. She is aware of this and also that the house is back on the market - the reaction apparently being floods of tears and that I can't do this to her. Oh yes I can.
This post does not, by the way, quite convey how angry I am right now surrounded by 50 boxes.

AdrianC

lichfield22 wrote: »

Once he realised his daughter hadn't done her bit, he told the agent that it would help if I would pay for her first year's buildings insurance and a professional cleaner :mad::mad: At that point I told the agent to put the house back on the market.

That just takes it straight past ridiculous into sheer farce.

...the reaction apparently being floods of tears and that I can't do this to her.

!!!!!!? Sorry, love, the ball is in YOUR court. Sign here <X>, and here <X>, hand over 10% of the purchase price, and tell your solicitor that thunderbirds are go. It's that easy.

Which part of that is she not understanding...?

Hoploz

You're doing the right thing.

Well done.

We are all angry on your behalf, rest assured.

jojo9239

Omg I'm so mad for you! And the dad! Omg