Pull Out of Chain?

DonPatch

May I have some advice. Bit of a ramble.

I put an offer in on a house in October and in mid December I was told that our vendors vendor had to pull out of their purchase and would look for another.

I told my vendor I was fine to wait and she said she was fine to wait also.

Last week I rang the vendors EA and asked the likelihood of this all happening as they had previously said that the lady wouldn't break the chain and rent and that she was looking for a house in a specific village. They said she wouldn't be hurried.
This conversation they said no change and the lady views a house maybe once a month or two. At this point I told them that I was lacking confidence and would start viewing other properties and they booked me to see one of their other ones for sale.

I then saw a house immediately that I wanted and offered. I was successful.

The very next day my vendors EA calls and says that she will let me know in 24 hours whether the lady will break the chain. This was yesterday. I don't know what suddenly changed? I thought they were ringing as my estate agent had told them that I'd found an alternative. So instead of my saying I found something else I didn't say a word.

Now what do I do. Are they mucking me about again? Also I feel bad for the vendors as I love their house but I can't see it happening.

I don't want to lose my new one as it's just as good. My mortgage has expired, the rate has gone up, my buyer is hanging on in there but for how long.

I feel terrible for pulling out but should I trust my instinct even if I told the vendors I'd wait. I honestly didn't imagine they still wouldn't have found anything by now.

p00hsticks

So your vendor's estate agent is aware of the fact that you've been looking at other properties, as you've viewed at least one through them.

They've then gone to the vendor and told them to get their act in gear or they'll lose the sale, and given them some sort of an ultimatum - with the vendor asking for 24 hours to reach a decision.

AnotherJoe

My instinct is to pull out, continue with your new purchase and you can always have the old one asa back up which will likely still be there with the old lady still not that bothered about moving.

Otherwise I'd be worried the lady will say she'll break the chain then renege at the last minute and you'll lose the new house which you say is just as good.

[Deleted User]

I am afraid you can't control what your vendor does, you can only control what you do. And you need a house. If your vendor is only looking casually at houses, and restricting herself to one village, it could take years. You have found a house you like just as much and I think you have to just go with that. It won't help anyone keeping this chain going (not even your buyer) as it doesn't look like its actually going to complete.

Contact your buyer, explain that you have all been waiting a long while with no sign of things moving so you think you all have to find other purchases.

Doodles

DonPatch wrote: »

I don't want to lose my new one as it's just as good. My mortgage has expired, the rate has gone up, my buyer is hanging on in there but for how long.

You have your answer right there. Your heart is elsewhere so I think you should pull out.

I bet you any money the lady doesn't give any sort of answer in 24 hours!

I would feel a bit bad about it too, but at the end of the day you need to look out for yourself.

Doozergirl

Who is "the lady"? The vendor's vendor?

I'm reading something wrong because I can see you telling your vendor that it's okay, but the problem is theirs, not the vendor's vendor. Your vendor is perfectly capable of looking elsewhere also and breaking the chain or creating another one.

If you suddenly phone making noises then it goes that someone might receive a kick up the bum and also start making a change. If they thought it was fine and they were fine waiting, fair enough.

Your choice on what you do, it's been long enough. Anyone could have made a decision in any direction. I'm just not sure why you're wondering your move has caused some disruptiin after all this time. It makes perfect sense to me.

AnotherJoe

deannatrois wrote: »

Contact your buyer, explain that you have all been waiting a long while with no sign of things moving so you think you all have to find other purchases.

He won't have to do that if he buys a different house, the chain below him remains unchanged

jackomdj

7 years ago we were in a similar situation. The day after we found somewhere else the sellers of our original offer found a property. We still went with the new property.

So 7 years on the people we did not buy from still live in the house... two doors away from us.

When we told the estate agents we weren't going to stay with the original property they told us we were doing the right thing!

Hoploz

Have the sellers of the new house found something already?

mrsammyp

Pull out...

If your seller!!!8217;s seller can!!!8217;t find a house in a couple of months then she won!!!8217;t do it in 24 hrs, and if she does it won!!!8217;t be the one she wants and you!!!8217;ll run into problems down the line.

tori.k

we pulled out of a house after nine months of waiting ( we were looking after 4 months but nothing about) the Vendor was no more forward then the day she accepted our offer when we finally found another house and her house is now off the market.
You risk loosing your own buyers if something doesn't start moving as as much as they are happy to wait, most likely they are probably also viewing other properties like yourselves just nothing been comparable yet.