Ready to set exchange date, seller has no where to go, options.

Gizmo22

Hi, I am a long time lurker and have found the advice so far invaluable, I am now stuck and would really appreciate any help.

Put an offer on a house, got the mortgage, searches ect. All ready to set an exchange date.

My problem is I have received a call from their estate agent saying she needs to discuss our position as the sellers have no where to go!

When we viewed the house the sellers actually discussed the house they were moving into so we (wrongly) presumed that side was sorted, added to that the sellers were like lighting with solicitors ect.

FTB so have no idea what to do now, do we pull out? Put a time limit on the situation? Is there certain questions about the should be asking?
We really needed to move ASAP and it is our dream home. We are about 4 months into the process so far.

I really don't want to have a conversation with the estate agent and either come across as ridiculous or be walked over as she has a habit of being very forceful.

Thank you

eddddy

You could just say that having waited 4 months, you're starting to worry whether your seller is really committed to finding somewhere - so you're going to start looking at other places again.

Obviously, if your current seller starts making progrress, you will proceed with the purchase. But if you find another place, where the seller seems more committed, you might go with that instead.

Obviously, you will lose all the mortgage and legal costs that you have paid so far.

If you decide to go for another place, maybe wait until the chain is fully formed etc, before spending too much money.

goodwithsaving

Say, you have until x date otherwise I will pull out. If your seller wants to move, they will move.
I'm having this trouble with mine.....

Gizmo22

Thank you for replying,

Thankfully we haven't put a huge amount of money into it, but enough to make me nervous.

We are in rented at the minute so at least that's one thing less to worry about.

Just a bit gutted and have the feeling that maybe they had little if no intention to actually sell as the house had been on the market for 2 years.

Will wait and see what is said on Monday and will update this thread, if I can get a word in edgeways I will ask if they are committed to selling..... Failing that I will send an email, cowards way but she really can be intimidating!

Thanks again for replying

Gizmo22

Goodwithsavings,

Thank you also, on my phone and can't work out how to quote, sorry

Sorry your having the same problem, is there a reasonable time frame to ask for? Weeks? Months?

For personal reasons as with most people moving we were hoping for sooner rather than later.

Thank you again, if I'm doing any of this posting thing incorrectly please point it out, this house buying lark has turned my brain to mush!

anselld

There really isn't much point fixing a timescale. Just start looking at other properties, you might find a better one and at that point you switch. You have nothing to gain by pulling out on a random date without a better alternative.
Make sure you view some with the same agent.

robatwork

The sellers do have somewhere to go - into rented or a hotel.

They aren't proceedable and sounds like you have been misled. Afraid you should think the worst - keep looking, make sure the agent knows you are back in the market, and also let the agent know the ball is in the seller's court.

Gizmo22

Anselld

Can I ask why you would suggest the same agent? I have personally found them rather overbearing and difficult

Thank you

Lolly88

Gizmo22 wrote: »

Anselld

Can I ask why you would suggest the same agent? I have personally found them rather overbearing and difficult

Thank you

So they know that you are looking elsewhere and it will perhaps incentivise them to put pressure on the sellers as they will be motivated to get their commission.

Gizmo22

Robatwork

Thank you, would it be totally unreasonable to suggest this, as my first thought was them moving into alternative accommodation. Just seems so odd, their side have pushed hard from the beginning for dates ect, to be honest it was us that held it back as had a few issues with getting a mortgage.

Gizmo22

Lolly88

Thank you so much, makes complete sense, just in a situation where my heart is ruling my head!

Therefore asking on here was the best as you lovely lot will see sense and bring the situation back to fact!