When to issue an ultimatum?

betsie

Hi all
Just wanted other people’s opinions.
In a short chain (I’m the top), 3 below. We are now at the end of week 13. Everyone is ready to exchange except one person in the chain who is being extremely slow. No issues outstanding they just need to sign contracts and return them. This has been going on for 2 weeks now. They only seem to look at stuff at the weekends with the reason being an elderly relative is ill in hospital (an expected situation). I get that it is stressful but why that stops you signing a contract on a weekday is beyond me.

The whole not knowing and living in limbo is making me ill and I can see no end to this delay ( if they die then they won’t have time because they are sorting out the funeral).
Without sounding callous life goes on and I’ve been through similar situations and still went to work, sorted the kids and House out - life didn’t stop. You can’t sit up the hospital 24hrs a day.

They are meant to be signing this weekend (if they have time). If they don’t Im trying to work out how to proceed and whether I should give an ultimatum. I know my buyers are as frustrated as me.
The cynic in me also thinks there must be more too it. If it was me I’d want it signed and done so I didn’t have to think about it.

What do others think? Am I being selfish and callous?

Browntoa

Person may be thinking they want to slow thinks deliberately for some reason , an ultimatum may show them that the chain is fed up and give them the kick up the xxxx they need

ReadingTim

Issue it any time you're ready to carry out whatever threat it is you're making.

But if you aren't willing to carry out that threat/promise, then save your breath, 'cos there's always a chance they'll call your bluff.

elsien

I do get the "not being able to sign till the weekend" thing, frustrating as it is for you. It's not about the actual signing it's about the time and headspace to read and check the documents properly before signing.
I put off a lot of things to the weekend for that reason and I don't have a relative ill in hospital. So it could be a genuine reason.

What ultimatum would you give - are you prepared to completely walk away and start again if pushing them makes them decide they don't want the hassle of moving at this point?

betsie

I have bought and sold lots of times so I know there are delays but it!!!8217;s normally due to waiting for 3rd parties to confirm things not one of the buyers in the chain stalling.
It was sold to us as a short chain with motivated buyers and sellers. Our buyers and us agreed to a large price decrease (based on this buyers offer on our buyers house) because of this. This is why we are all so pee!!!8217;d off with it.
It!!!8217;s the not knowing, I would happily exchange and have completion in 6 weeks time if they wanted. It!!!8217;s so frustrating how people I haven!!!8217;t met can have such an impact on my life and hold me to ransom. I know I wouldn!!!8217;t act like this in their situation.
I!!!8217;m not sure what I will do if the contracts haven!!!8217;t been received by their solicitors on Monday.

kinger101

The only person who should be issuing the ultimatum is the vendor of the property for which the buyer has not signed contracts.

victoriavictorious

No, you're not being selfish and callous at all. This system is so full of smoke, mirrors, lies and deceit (and that's just with an average transaction!) that it's enough to make anyone ill. There could be any number of things going on with the chain, and you are highly unlikely to have the full story.
I think the only thing you can do at the moment is ask your solicitor (so you get the 'official' word on this) exactly what/who is causing the hold up and preventing exchange. It often isn't what you think.
Once you know, contact your own EA and get them to chase down the chain - they will have access to your buyer's EA and solicitors.....and this is part of the service you're paying them for. Give them a couple of days grace to get back to you.
After this time is up, if you still have no coherent answers that are acceptable to you (and depending on who/what is causing the hold up) tell your agent to convey down the chain that you will have to start thinking about ultimatums. This might have the desired effect of rockets up backsides, but with no pressure on you to follow through, as you haven't actually issued a direct ultimatum. Yet.
If after that, this still continues, then you may wish to issue a real ultimatum (and be prepared to follow it through.)
Good luck, I feel your pain!

lookstraightahead

Do you have any rush? If you issue an ultimatum it may backfire and you have to start again. Everyone does things differently. My OH is in a very stressful job and has no headspace til at least Saturday afternoon for anything that requires reading! Sometimes a house move is the least on a persons mind if they have lots of other worries too. Be ready to carry it out if you threaten to pull out.

betsie

All the chasing has been done. my EA is also my buyers EA so we know it’s my buyers buyer. My solicitor has also chased and this has been confirmed.

All the EA keeps saying is be patient. This is not one of my personality traits as I am a do’er.

Buyers buyer not signing (have contracts) as too busy with
Sick elderly relative.

My buyer has tried saying their mortgage offer is time limited but that hasn’t work. Our EA has assured me that he has conveyed to them how fed up everyone is.

If they haven’t returned contracts this weekend I think we will have to get more serious next week (my buyer is as fed up as me). I reckon the next thing will be that the solicitor has contracts but hasn’t got their deposit/funds (paying the balance of their house purchase with cash).

I have bought and sold quite a few times and do everything I can to make sure I am not the cause of any delays as I know how stressful it is. How they don’t realise the stress they are causing to others is beyond me (or they do but don’t care).

betsie

I would be happy to give them 4 weeks ( or more) between exchange and completion I just want the security of actually knowing it!!!8217;s going to happen. I hate living in limbo and it!!!8217;s stressing my OH out as he is self employed so having trouble booking up future jobs.

victoriavictorious

Without meaning to sound harsh to your buyer's buyers, if they really can't deal with all the necessary formalities at the moment (which would be understandable), they should at least have the grace to bow out and allow the chain a chance to re-form, thus allowing everyone else involved to get on with their lives.