Ultimatums can work ! ...... "exchange or we're done"

AnotherJoe

So, to cut a very long story short, my daughter was being strung along by her vendor who initially back in November said "I'll move in with my mum so no chain" ( simple cash buy, thats it) and then a lot of silence, delays etc "  and it gradually became clear she was trying to tie it into a purchase, this was only revealed yesterday, and the purchase was the start of a risky chain (vendor a house or two up on deaths door) , so this afternoon they said "complete today or we are pulling the plug because we dont beleive you intend to exchange quickly and we arent risking the chain above you" and they exchanged this evening at 630pm ! Great job by her solicitor who stayed on to do it.

SDLT_Geek

Good to hear a positive story!  Thanks for sharing.
Out of interest, what completion date was agreed?  Most are very short at the moment.

tigerlily74

I am thinking about issuing an ultimatum next week of ‘sort out/sack your solicitor or we are done’. They have had four months to issue a correct contract. If they can’t do it now they will never be able to.

Glad it worked for you!

hazyjo

I've done it before. Found out the vendor had found somewhere to buy so tried to delay. I said they'd said they'd stay elsewhere, so let them stick to it or I would walk. I wasn't best pleased.

You do have to mean it though lol!

NameUnavailable

The threat of losing a property or sale will always determine how committed and serious the buyer or seller really is. You have to draw a line in the sand eventually. I learned the hard way, strung along for months by a time wasting 'investor' buyer.

AnotherJoe

SDLT_Geek said:

Good to hear a positive story!  Thanks for sharing.
Out of interest, what completion date was agreed?  Most are very short at the moment.

Wed 3rd. They were happy to go for Friday 5th but after all the prevarication the vendor wanted 3rd.

I'm guessing removals the issue, fridays a popular day, so they took what they coudl get.

I also exchanged today, my completion the 9th.  So 6 working days.

Tomorrow is "empty the loft day".

AnotherJoe

NameUnavailable said:

The threat of losing a property or sale will always determine how committed and serious the buyer or seller really is. You have to draw a line in the sand eventually. I learned the hard way, strung along for months by a time wasting 'investor' buyer.

Yes, I learned that lesson the hard way too hence my advice, but it was their decision, ultimately, to issue an ultimatum, after one more additional attempted delay at 3pm this afternoon they had had enough. 

The whole sale started out with no chain and then by stealth the vendor introduced one.

Thrugelmir

The vendor managed to string matters out though to their own convenience. No great surprise. When has completion been agreed for? 

Once received an ultimatum from an extremely unpleasant couple. Ended up sofa surfing for 6 weeks. As there was a delay with our onward purchase over which no one could control. 

AnotherJoe

hazyjo said:

I've done it before. Found out the vendor had found somewhere to buy so tried to delay. I said they'd said they'd stay elsewhere, so let them stick to it or I would walk. I wasn't best pleased.
You do have to mean it though lol!

That was exactly the situation here. In contrast my chain of 6 also went through about noon today, amazingly there were no last minute shenanigans, gazunders, nothing. I suppose everyone focussed on end of March and not wanting to rock the boat.

 

hazyjo

AnotherJoe said:

hazyjo said:

I've done it before. Found out the vendor had found somewhere to buy so tried to delay. I said they'd said they'd stay elsewhere, so let them stick to it or I would walk. I wasn't best pleased.
You do have to mean it though lol!

That was exactly the situation here. In contrast my chain of 6 also went through about noon today, amazingly there were no last minute shenanigans, gazunders, nothing. I suppose everyone focussed on end of March and not wanting to rock the boat.

 

I know Just wanted to say it's very common. But if you make a threat, you really do have to mean it.

Congrats!

kinger101

I did it on first house I bought.  It was a chain-free house which was unfurnished when I viewed it.  Vendor had supposedly moved to another part of the country for work.  Got to the point where all queries resolved, but vendor spent three weeks giving poor excuses for not exchanging.  Drove by the house, and was surprised to find it occupied again by vendor.  They were slumming it in the unfurnished house, apparently due to some contract work in area.  Instructed my solicitor to tell them if they didn't exchange by the end of the week,  the sale was off.