Chain fallen apart - what should I do?

alicardinal

There is a very long story behind this, involving damp and woodworm reports, renegotiation of price, undervaluation and crap estate agents, but we were finally in a position to exchange contracts.

It's a chain of 4 - First time buyer, us, new house, vendors purchase.
There were some last minute hitches with our FTB deposit but money was in the account ready to go yesterday. Everyone wants to complete next Friday (26th)

Yesterday we find out that the top of the chain (vendor's purchase) haven't signed the contract. Not only that, but the last anyone heard from him - estate agents, vendor, even his own solicitor- was on Saturday, via email, when he said 'I've been in hospital for 3 weeks. I've got the contract, will sign and drop it to solicitor's on Monday' Nothing since, and no sign of the contract. We've even been round and knocked on the door today and sat outside for a bit - nothing...

We have to exchange by Friday if we want to complete next week, when our FTB is homeless as given notice on his rental, and just 4 weeks before I'm due to give birth.

So, what should I do

a) Complete on our sale so as not to lose our buyer (given that it's taken close on 5 months already and in a potentially falling market) Move into parents indefinitely until chain reforms - AWOL bloke turns up or vendors find something else.

b) As a) but move into rented for 6 months to a year(I've never rented before - what's a standard notice period if our purchase get's back on track again?)

c) Give it up as a bad job and stay put.

d) Do something else that I haven't thought of yet....

It's a nightmare. Most of the house is packed up and ready to go, and my heart is already moved out IYSWIM. Plus I'm not thinking straight with many extra hormones anyway. And it turns out that the AWOL guy has recently had some mental health problems (hence the hospital stay) and I'm genuinely concerned he might have done some damage to himself.

Any suggestions/ thoughts gratefully received. It's becoming a huge horrible monster in my head....

Doozergirl

All may not be lost with the person at the top of the chain but I would go ahead with your sale if you know this place isn't big enough for you. In this market, a buyer is a buyer!

I would try to hold them off for as long as possible to see if this chain can be sorted. Talk to your buyer directly so they can't send blind bullying messages through solicitors.

Or if you can wait until baby is bigger, then that is the other option! Take the house off the market whilst you muddle along getting used to being a mum (even after you get used to being a mum, you still muddle along )

I hope it goes okay for you not the best time for this to happen obviously.

I'd like to know what Gertrude accrued!

movilogo

Since you're expecting a baby soon, don't take any stress!

You're lucky that you've got a buyer and you've your parent's place to move on.

I personally think you should sale the house and move to your parents place. It's far better to stay with parents during child birth.

carolt

movilogo wrote: »

Since you're expecting a baby soon, don't take any stress!

You're lucky that you've got a buyer and you've your parent's place to move on.

I personally think you should sale the house and move to your parents place. It's far better to stay with parents during child birth.

I agree with the first sentence but not necessarily the rest - babies frequently come early and a 4 week timescale to do formalities of sale, pack up stuff in house and move it all sounds very tight, even if baby obligingly comes on time or late - unless your parents' house is v large, parents v understanding or you have very little stuff, it sounds like a lot of unnecessary hassle you don't need at the moment, particularly as you then have no longer term plans. If the disappearing vendor reappears after all and chain goes through, then it's worth taking the risk, but otherwise I'd say stay put, even if it's a bit cramped (new babies are v small - they don't take up much room!!) and try and put your buyer off until the baby is born or the chain in place again.

Also, your buyer may be laying it on with a trowel a bit in order to get you to put pressure on those above you in the chain - unless his/her flat has been relet, landlords are usually happy to let tenants stay on for a few more weeks - they wouldn't normally come along and throw their stuff out on the pavement! particularly if it's not their fault eg the house purchase taking longer than expected. And that is your buyer's problem not yours. At the end of the day, you have a baby to think of - which is FAR more important than the house move...

Don't lose any sleep over it, enjoy the pregnancy, good luck with it all....