Ultimatum experiences

never_again_123

I'd love to hear your experiences with giving ultimatums please. Have you given an ultimatum to someone in your chain regarding dates before and if so, did it help? Or did you regret it in the end? Did your chain break, or did it work out?

To give context, we're on the 4th completion date passed up the chain by our buyers solicitor now and the 4th one to also then be withdrawn by buyers solicitor due to "further enquiries to be sorted at the bottom" and told that no further dates can be discussed (again). Chain of 5 and we're in the middle.

There's talk coming from up the chain now of giving an ultimatum of a confirmed completion date by the end of the week (even if that date is next year now), or the chain breaks.... I've got a really horrible feeling this is all going to fall apart 

Mrsemmawright2010

This Friday we missed our 3rd exchange date.  There are only 4 in the chain and i am number 2.  Problems have ranged from my vendor and then more recently my buyer.  
On Friday i gave my buyer an ultimatum that we exchanged this week with a view to complete on the 18th.
By 10am this morning i heard that they had hand delivered their signed contracts back and transferred deposit monies.
So it worked for me and we would have genuinely pulled out but it was a risk....i guess it depends if the queries are genuine? My buyers had no queries but kept trying to delay and hint at asking for a reduced price so i thought enough was enough.

Good luck

MFWannabe

Mrsemmawright2010 said:

This Friday we missed our 3rd exchange date.  There are only 4 in the chain and i am number 2.  Problems have ranged from my vendor and then more recently my buyer.  
On Friday i gave my buyer an ultimatum that we exchanged this week with a view to complete on the 18th.
By 10am this morning i heard that they had hand delivered their signed contracts back and transferred deposit monies.
So it worked for me and we would have genuinely pulled out but it was a risk....i guess it depends if the queries are genuine? My buyers had no queries but kept trying to delay and hint at asking for a reduced price so i thought enough was enough.

Good luck

So glad to hear your buyers saw sense 👍

Doozergirl

MFWannabe said:

Mrsemmawright2010 said:

This Friday we missed our 3rd exchange date.  There are only 4 in the chain and i am number 2.  Problems have ranged from my vendor and then more recently my buyer.  
On Friday i gave my buyer an ultimatum that we exchanged this week with a view to complete on the 18th.
By 10am this morning i heard that they had hand delivered their signed contracts back and transferred deposit monies.
So it worked for me and we would have genuinely pulled out but it was a risk....i guess it depends if the queries are genuine? My buyers had no queries but kept trying to delay and hint at asking for a reduced price so i thought enough was enough.

Good luck

So glad to hear your buyers saw sense 👍

Unless they are true cash buyers, it's all in the hands of solicitors and mortgage companies as to when people are genuinely ready.   If people are motivated, they will do what they are told and when.  

I suspect that the ultimatum had nothing to do with it. 

The only thing an ultimatum might do is cause someone who was erring to drop out sooner rather than later. 

We have been in a very similar position and there's simply nothing much we could do about it, unless of course we actually decided that we didn't want to sell our house anymore.  

MFWannabe

Doozergirl said:

MFWannabe said:

Mrsemmawright2010 said:

This Friday we missed our 3rd exchange date.  There are only 4 in the chain and i am number 2.  Problems have ranged from my vendor and then more recently my buyer.  
On Friday i gave my buyer an ultimatum that we exchanged this week with a view to complete on the 18th.
By 10am this morning i heard that they had hand delivered their signed contracts back and transferred deposit monies.
So it worked for me and we would have genuinely pulled out but it was a risk....i guess it depends if the queries are genuine? My buyers had no queries but kept trying to delay and hint at asking for a reduced price so i thought enough was enough.

Good luck

So glad to hear your buyers saw sense 👍

Unless they are true cash buyers, it's all in the hands of solicitors and mortgage companies as to when people are genuinely ready.   If people are motivated, they will do what they are told and when.  

I suspect that the ultimatum had nothing to do with it. 

The only thing an ultimatum might do is cause someone who was erring to drop out sooner rather than later. 

We have been in a very similar position and there's simply nothing much we could do about it, unless of course we actually decided that we didn't want to sell our house anymore.  

I was referring to posters previous post where the buyers were making ridiculous requests 

BrassicWoman

I did it but only because I meant it. Exchanged and moved in three weeks.

Mrsemmawright2010

MFWannabe said:

Doozergirl said:

MFWannabe said:

Mrsemmawright2010 said:

This Friday we missed our 3rd exchange date.  There are only 4 in the chain and i am number 2.  Problems have ranged from my vendor and then more recently my buyer.  
On Friday i gave my buyer an ultimatum that we exchanged this week with a view to complete on the 18th.
By 10am this morning i heard that they had hand delivered their signed contracts back and transferred deposit monies.
So it worked for me and we would have genuinely pulled out but it was a risk....i guess it depends if the queries are genuine? My buyers had no queries but kept trying to delay and hint at asking for a reduced price so i thought enough was enough.

Good luck

So glad to hear your buyers saw sense 👍

Unless they are true cash buyers, it's all in the hands of solicitors and mortgage companies as to when people are genuinely ready.   If people are motivated, they will do what they are told and when.  

I suspect that the ultimatum had nothing to do with it. 

The only thing an ultimatum might do is cause someone who was erring to drop out sooner rather than later. 

We have been in a very similar position and there's simply nothing much we could do about it, unless of course we actually decided that we didn't want to sell our house anymore.  

I was referring to posters previous post where the buyers were making ridiculous requests 

Yes, they came back with a load more requests over the weekend.  Even their own solicitor advised them they were being unreasonable so i felt safer issuing the ultimatum.

MFWannabe

Mrsemmawright2010 said:

MFWannabe said:

Doozergirl said:

MFWannabe said:

Mrsemmawright2010 said:

This Friday we missed our 3rd exchange date.  There are only 4 in the chain and i am number 2.  Problems have ranged from my vendor and then more recently my buyer.  
On Friday i gave my buyer an ultimatum that we exchanged this week with a view to complete on the 18th.
By 10am this morning i heard that they had hand delivered their signed contracts back and transferred deposit monies.
So it worked for me and we would have genuinely pulled out but it was a risk....i guess it depends if the queries are genuine? My buyers had no queries but kept trying to delay and hint at asking for a reduced price so i thought enough was enough.

Good luck

So glad to hear your buyers saw sense 👍

Unless they are true cash buyers, it's all in the hands of solicitors and mortgage companies as to when people are genuinely ready.   If people are motivated, they will do what they are told and when.  

I suspect that the ultimatum had nothing to do with it. 

The only thing an ultimatum might do is cause someone who was erring to drop out sooner rather than later. 

We have been in a very similar position and there's simply nothing much we could do about it, unless of course we actually decided that we didn't want to sell our house anymore.  

I was referring to posters previous post where the buyers were making ridiculous requests 

Yes, they came back with a load more requests over the weekend.  Even their own solicitor advised them they were being unreasonable so i felt safer issuing the ultimatum.

Seriously? Wow 😲 You must have really thought enoughs enough! 

Rambosmum

From the other side - we were given an ultimatum by our buyers - break the chain or they walk. 

We had 2 cats and 2 kids, miles from family and with jobs/ childcare etc. We told them to walk! No way was I uprooting the family because they wanted to be in by a specific but arbitrary date - they were FTB, in rented, not handed in notice and no kids or pets. They backed down and waited another couple of weeks but it destroyed the good will we had with them and turned what should have been a positive experience sour for both parties.

Only issue an ultimatum if you are willing to go through with them. 

Crashy_Time

Rambosmum said:

From the other side - we were given an ultimatum by our buyers - break the chain or they walk. 

We had 2 cats and 2 kids, miles from family and with jobs/ childcare etc. We told them to walk! No way was I uprooting the family because they wanted to be in by a specific but arbitrary date - they were FTB, in rented, not handed in notice and no kids or pets. They backed down and waited another couple of weeks but it destroyed the good will we had with them and turned what should have been a positive experience sour for both parties.

Only issue an ultimatum if you are willing to go through with them. 

Yep, buyers will have plenty of other choices in many cases, it is the seller who is under most pressure usually.

nicmyles

Eight months after offer accepted, we still hadn't exchanged, due to problems further up the chain. 

We had already had to complete on our sale in order to keep our buyer, and had been living with family for four months. Normally wouldn't have done this, but there were various issues with our flat that meant it wasn't certain replacing the buyer would be quick or easy.

In the end, we gave an ultimatum for the vendor to exchange within 48 hours with a completion date not more than 4 weeks after that. We didn't do it lightly, and we would have walked if they hadn't agreed. Again, normally wouldn't have done this, because there's no reason you can't offer on other places and see if you can make faster progress. But we were just frustrated beyond all belief, because the vendor couldn't see that it was unlikely the problems with their purchase could be quickly resolved - there were tenants in a property refusing to leave - and it was relatively straightforward for them to move. They were divorced, only one was living in the property, it was mostly empty, etc. 

Their EA believed us. They exchanged the next day.