Why does this have to be so stressful?

ceh209

I need your advice please!

Situation:
- Our buyer is in rented, mortgage offer expires on 13th March. It's already been extended so can't be again.
- Our vendor will be moving in to rented. Refuses to move before 16th March as they have no time to sort removals (despite knowing for a few weeks we were ready to go imminently)

Options that have been suggested or come to mind:
- Do not complete on our sale by 13th. Buyer has to get new mortgage offer (at higher rate, which they don't want to do) and we end up annoying them and not moving for probably at least a month
- Informal arrangement where we do complete on our sale on the 13th but stay in the house (the buyer suggested this, I know if solicitors got any wind of it they wouldn't allow it)
- Buyers draws down mortgage funds on 13th and completes on 16th (don't know if this is possible?)
- We complete on sale on 13th and purchase on 16th, with our vendor paying for cattery and extra removal/storage costs (and possibly hotel, although we probably could find somewhere to stay) for 3 days. I assume vendor will refuse so we end up paying, and I've never used a cattery before

I don't know what to do any more!

spadoosh

Go on holiday for a week.

ceh209

spadoosh wrote: »

Go on holiday for a week.

Tempting, but doesn't really solve the issue...

maisie_cat

For so few days I'd store household contents and go away, cat will be fine. when we moved last, we thought we might have the same thing, so contemplated camping for 2 weeks as it was the summer anyway.

eddddy

So is all the legal stuff done, and the solicitors are happy to exchange?

Assuming that your vendors are aware of the whole situation, what is their proposed solution (if you say that you are unwilling to be 'homeless' for 3 days)?

Are they happy to wait the extra month, and hope that your buyer can get a new mortgage? And risk the chain falling apart if your buyer can't get a new mortgage? How desperate are they to move?

ceh209

eddddy wrote: »

So is all the legal stuff done, and the solicitors are happy to exchange?

Assuming that your vendors are aware of the whole situation, what is their proposed solution (if you say that you are unwilling to be 'homeless' for 3 days)?

Are they happy to wait the extra month, and hope that your buyer can get a new mortgage? And risk the chain falling apart if your buyer can't get a new mortgage? How desperate are they to move?

Yes everyone is ready to exchange, but can't agree a completion date.

Our vendors are aware and are still refusing. I even suggested removal companies who told us they were available (but that was a week ago so may not be now) but they won't even call them. They haven't got any proposed solution, just saying it is our problem :mad:

Our buyers will get a new mortgage offer but at a higher interest rate so they won't be happy, but it's not the end of the world. Both buyer and vendor are apparently desparate to move.

I have just asked the vendor's estate agent to ask them to pay additional costs and he's said they won't.

eddddy

ceh209 wrote: »

They haven't got any proposed solution, just saying it is our problem :mad:

Well, I suppose you could tell them it's their problem.

It sounds like a game of chicken... you want to complete on the 13th, your vendor to complete on the 16th. So who can hold their nerve longer?

If you clearly and firmly state that you will not complete on the 16th under any circumstances, your vendor may give in (or they may not).

They're less likely to give in if you're giving the impression that you're considering the option of being 'homeless' for 3 days, and/or you're giving the impression that you're more desperate than they are.

It's all a bit of a game really.

ceh209

eddddy wrote: »

Well, I suppose you could tell them it's their problem.

It sounds like a game of chicken... you want to complete on the 13th, your vendor to complete on the 16th. So who can hold their nerve longer?

If you clearly and firmly state that you will not complete on the 16th under any circumstances, your vendor may give in (or they may not).

They're less likely to give in if you're giving the impression that you're considering the option of being 'homeless' for 3 days, and/or you're giving the impression that you're more desperate than they are.

It's all a bit of a game really.

I'm currently trying to find out exactly how much it would cost to be homeless for 3 days. Removal company is calling me back with a quote later...

The EA says they might pull out if we ask them to pay costs... this vendor is beginning to sound very flakey - but do I want to lose what is meant to be our forever home for the sake of possibly a few hundred pounds?

[Deleted User]

Do they want to lose all the costs they have incurred for three days? It sounds a bit insane

Red-Squirrel_2

There's no way I'd sell without buying simultaneously in this situation. I wouldn't trust your sellers not to keep coming up with more obstructions so that 3 days ends up being a lot longer, or you end up not getting the house at all. Its a big risk.

I'd tell them that its either the 13th or its not happening, because you are not willing to risk making yourselves homeless. If they let you pull out they were probably never going to sell to you anyway.

AylesburyDuck

Its not actually your problem, its their problem, they complete on the 13th or the chain collapses and they dont complete at all. Balls firmly in their court!