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

dpearson86

I'm a FTB too, the people we are buying from from a similar situation and threatened we would walk and cause the chain to collapse so the top rung of the ladder have agreed to go in to rented accommodation at the end of the month.

We weren't threatening to walk as we could have waited a few more months but the sellers for our property were desperate to move due to their families and I agreed if they wanted to make us out to be the bad person to go ahead. Means they could say they were having pressure from us and move sooner like they want.

tallsmithy

Op- were in a very similar position. Been hassled by the seller to get ready for exchange, only for them to now hold things up because they aren't ready?!! So I wonder if we should apply for pressure by , 1lowweii nor hugely else?

tallsmithy

*apply pressure by renegotiate the price etc?

hazyjo

You probably have 6 months on your mortgage offer. You're prob at least 3 months into that. You've seen how long it can take. Bear in mind your offer is likely to expire and you'll have to either extend (iffy) or start again.

Unfortunately it's totally a case of the horse having bolted. Did your solicitor or EA never say anything to you about the top of the chain?

Tom99

I agree, start looking elsewhere or your mortgage offer will run out.

chappers

Say to them as you wanted the chain is now complete, either commit to exchanging with a fixed completion date, if you can't then we will leave the offer on the table, but go looking for other properties. and might pull out at any point.
Has anyone asked them why they haven't yet found a property, to judge if there is a genuine problem or that they are just fussy idiots with no urgency to move

moneyistooshorttomention

Gizmo22 wrote: »

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

Well there's two ways of looking at "been on the market for 2 years" and one is they have no real intention of selling.

The other is = they really do want to sell and they arent getting much interest and therefore you're in a strong position to say words to effect of "Stop mucking us up right NOW. A bird in the hand is worth 2 in the bush. Make the best of the fact you have a buyer here right now (ie ourselves) and pull your finger out or your house could languish on the market for evermore and get on with selling to us".

I don't think it's the cowards way out at all to use email (rather than phonecall) to the EA concerned. Having recently discovered that there is a trick some people try of quoting back at you words they say you've used in conversation (and, in the process, they are saying you stated a totally different message to what you actually did say) - then email is the best way to communicate sometimes. It's much more difficult for a tricky person to try and turn your words around to say that you said the exact opposite to what you actually did say if you've said it in writing.

Mickygg

Tell them to go into rented or you will renogiate price, and start to look at other properties.

If they were hungry to sell they would have sorted out a back up plan by now (I.e. Go into rented).

AnotherJoe

First, start looking elsewhere, even if they say they will move, and dont stop looking until you have exchanged.
Second, depends how much you like the place whether to set a deadline. If this is "the" house, fair enough hang tight (but still keep looking). If this would be an OK house , set a deadline, it may induce them to move, as said by MITSTM, it depends why they haven't found a place, which you dont know.

VintageHistorian

If you're worried about facing a slightly aggressive estate agent then get yourself angry beforehand. We had our (extremely useless) estate agents trying to give us a runaround. It was only when I finally lost my temper and got a bit shirty with them down the phone (didn't shout, didn't swear, just told them I was sick of being lied to and would be pulling out of the sale) that they suddenly found some manners, and sense of customer service. It all progressed quite smoothly after that.

Spend a bit of time with a pen and paper today going through your timeline. Try to remember when the estate agents have phoned asking for updates, and dates when they've phoned up telling you that you're not progressing things quickly enough. Take this list with you when you meet the estate agent so you don't forget things if you get upset.

I'd also point out to them that at no time were you informed that the vendors had no where to go, and that as far you're concerned it's their problem, not yours. Estate agents will be getting paid by the vendors, but they'll be paid out of your money. With a house that's been on their books for 2 years I imagine they won't be pleased at the prospect of a buyer walking away.

You're not as powerless as you might think. Set aside the fact that it's your dream home (and whatever you do, don't mention that to the estate agents or the vendors). Just explain that you're seriously disappointed, you won't be exchanging without a set completion date, and the vendors have a week to decide if they want to go in to rented or not. Otherwise you'll keep your offer on the table, but you'll be looking for other properties that are more proceedable.