Paying sellers storage costs??

enewell

Hi, we are about 3 weeks away from exchanging on our property sale and purchase. Searches are all done and just waiting on a few enquiries to come back. We put our offer in based on the seller not being in a chain. She said even if she did find somewhere she would move in to her partner's house as we are relocating and want to get settled in time for school in September. Now she has decided she isn't keen on forking out storage costs and is saying she isn't willing to move as previously agreed. I know nothing is really certain until you sign on the line but it's disappointing to get so close to exchange and have this change of heart. We are considering offering to pay her storage costs for a period of time (or to a certain value). Has anyone done this or got any advice? It's frustrating but seems like less of a hassle than the whole thing falling through! TIA.

PollyWollyDoodle

Crikey, I wish I’d thought to ask my buyers for this! And the cost of the cattery, and the Airbnb…. 

It never occurred to me, but then I had said I would move out and I wanted to keep my word. If she seems unwilling then it’s worth a try but put a limit on it. If the real reason is that she doesn’t want to move in with her partner, or that she’s changed her mind, offering storage costs will probably flush out the answer. 

youth_leader

How long has your conveyance taken so far?  Some people on another property forum are lamenting that other houses in their road have gone for an increased price, perhaps she is one of them.  

It can't hurt to offer the storage costs, if you can afford it.  My friend offered her elderly seller £5K more towards her moving into rented, unfortunately she refused.

enewell

youth_leader said:

How long has your conveyance taken so far?  Some people on another property forum are lamenting that other houses in their road have gone for an increased price, perhaps she is one of them.  

It can't hurt to offer the storage costs, if you can afford it.  My friend offered her elderly seller £5K more towards her moving into rented, unfortunately she refused.

So far, conveyancing has taken just over 3 months. Our current property is shared ownership which doesn't help. I'm not sure if she is holding out for more money though, I haven't seen any other houses for sale in the immediate area. Might just have to bite the bullet and make her an offer 😬

eddddy

You can offer to pay storage costs if you want - but I suspect that may not be the real reason.

The storage costs are probably less than £200 per month. She'll probably save more than that - by not paying mortgage interest, and the general costs of owning a house.


I suspect there's something more fundamental - perhaps that she doesn't want to admit to you. (e.g. there's some reason that she doesn't want to stay in her partner's house, or she's having second thoughts about selling, etc)

lookstraightahead

This doesn't help you, but you are buying her house, does she not want your custom?

I am stubborn and I would expect her to keep her word, or I would walk away.

she has probably got on the gravy train of sellers who think they've got the upper hand at the moment. Hope the tables turn.

enewell

eddddy said:

You can offer to pay storage costs if you want - but I suspect that may not be the real reason.

The storage costs are probably less than £200 per month. She'll probably save more than that - by not paying mortgage interest, and the general costs of owning a house.


I suspect there's something more fundamental - perhaps that she doesn't want to admit to you. (e.g. there's some reason that she doesn't want to stay in her partner's house, or she's having second thoughts about selling, etc)

Hmmm...yeah this is what I'm worried about!

lookstraightahead

eddddy said:

You can offer to pay storage costs if you want - but I suspect that may not be the real reason.

The storage costs are probably less than £200 per month. She'll probably save more than that - by not paying mortgage interest, and the general costs of owning a house.


I suspect there's something more fundamental - perhaps that she doesn't want to admit to you. (e.g. there's some reason that she doesn't want to stay in her partner's house, or she's having second thoughts about selling, etc)

That's very nice of you, but I think it's probably just greed and an under active moral compass.

Section62

enewell said:

Has anyone done this or got any advice? It's frustrating but seems like less of a hassle than the whole thing falling through! TIA.

Even if you offer to pay storage costs and she accepts, there's nothing stopping her coming back with a further 'problem' before exchange.

I agree with eddddy that there is probably something else going on, but also agree with the part of lookstraightahead's post that you had an agreement and you need her to stick with it [or some very similar alternative], or [be prepared to] walk away.

Given you've already spent money on this purchase, don't just walk away without having your own alternative plan in place though.

In any event, if you are thinking of exchanging in about 3 weeks aren't you already tight on being moved in and settled by return to school?  Are you going to find yourself wishing you'd opted for (say) an October half-term completion instead?

enewell

Unfortunately we live nearly 100 miles away from where we are going. The agreement has always been to complete in August. Looks like I need to have some honest conversations and start making some plans. 
We already had one buyer and seller pull out at the start of this year. Think I'm at my wits end now!

Thrugelmir

Has the vendor found a property to purchase yet? 

You paying the vendors storage costs is a vague undefined statement. Needs clarification.