Good will compensation to vendors

robatwork

Sounds like there's more to this than your OP suggested.

Did you enter into some sort of side agreement (in writing) with the vendors?

What you've outlined is just the normal sh*tshow regarding buying and selling a house and is just accepted as part of our antiquated designed-by-committee-of-toddlers-just-before-their-nap system.

Nobody pays compo unless there's some agreement or legal action, but that would normally be because you/they had to move out into rented accommodation to keep the chain intact.

glennevis

Offering 'compensation' however small could be viewed as money laundering (possibly avoiding SDLT) since you would not have declared the full purchase price. I know it sounds mad but it's the world we live in now.

mrsmortgage

No writing agreement! They just once said that they don{t want to pay two mortgages, and we really want the house!

hazyjo

mrsmortgage wrote: »

No writing agreement! They just once said that they don{t want to pay two mortgages, and we really want the house!

Thought they were renting. So they could just speak to their LL to see if they'd allow them to extend their term?


If it is a second property that they own (and they rent?) it would cost them an awful lot more in 2 x mortgages for another 3+ months while they sell again.

mrsmortgage

They own to properties, one was rented. They moved to the rented one, leaving the one we're buying vacant.

cloo

Delay is totally normal, please don't pay them anything at such a relatively early stage, you'll feel beholden to keep paying out every time something goes wrong (and it will!)

couriervanman

As above don't do it......what if another delay

Doozergirl

mrsmortgage wrote: »

No writing agreement! They just once said that they don{t want to pay two mortgages, and we really want the house!

I don't know the story here but that's their own fault for buying a house before they had sold. Most people have chains and do it all simultaneously.

Don't let them make you pay for what was their own risk. There are zero guarantees in buying/selling and you (ie. they) have to go with the flow.

It's going to take them more than your apparent delay to sell to someone else and that might take even longer for all sorts of reasons.

Marvel1

Thanks for the money, day before exchange, we decided not to sell now.

mrsmortgage

Doozergirl wrote: »

I don't know the story here but that's their own fault for buying a house before they had sold. Most people have chains and do it all simultaneously.

Don't let them make you pay for what was their own risk. There are zero guarantees in buying/selling and you (ie. they) have to go with the flow.

It's going to take them more than your apparent delay to sell to someone else and that might take even longer for all sorts of reasons.

That's more or less how I see it, it was their fault for giving their tenants notice and moving to that property, leaving one vacant...