Seller’s changing from chain free to being on a chain

rexmedorum

TripleH said:

The deal is difficult because one couple could be sorted but the others might not find a home.

I'd start looking around for somewhere new and ask your solicitor to freeze work on your file at the moment.

I wouldn't feel guilty if you found somewhere else and walked away, they changed the circumstances of the purchase. I wouldn't pull out yet in case they do get their acts together.

To be honest if you found somewhere new, I'd go to the buyer and cut your offer by quite a bit (chance your arm) first.

That's what I would do. I don't seethe point of formally pulling out until you've found womething else but make sure there's no further spend.

Sistergold

Just start looking with the view to pull out if something else comes along. If you don’t find anything else then well you can then put up with the circus you have been dragged into. To be honest this is really unfair on you that they did this. They should all move into rental so as not to mess you about. 

mrsammyp

I think unless they go into rented, the process will take a long time. The parents will need to sell their own house first (unless they have funds in the bank to proceed independently) and then they (sellers + parents) will need to find a property which will suit all their needs, which I presume will likely to take some time in itself.

I would have an honest conversation with the EA to see whether going into rented is an option alongside the threat of walking away, otherwise hold tight but continue to be open minded if something else comes along. I think it's very unlikely in the current situation that you'll complete before your mortgage offer runs out.

dodo1990

Walk away. We just had this with our buyers (said they were cash buyers but then decided to sell and loop in a chain) and it has been an absolute nightmare, taken months, and constant stress. Find another property!

sammyjammy

I agree to start looking for other properties, tell your solicitor to put any further work on hold and see what happens over the next couple of weeks.  If you stick with it I can't see you completing before June with two non-concurrent house sales

badger09

Don't invest any more in this property, in terms of time, money or emotional attachment Tell your solicitor to pause work until you contact the again. Look for another property but keep this one on the back burner. If EA asks why you're not progressing, tell him you're not prepared to wait for 2 + chains.

BrumBab30

dodo1990 said:

Walk away. We just had this with our buyers (said they were cash buyers but then decided to sell and loop in a chain) and it has been an absolute nightmare, taken months, and constant stress. Find another property!

Out of interest, how long did it take you in the end? Or if you’re still in the process, how long has it been so far? 

dodo1990

BrumBab30 said:

dodo1990 said:

Walk away. We just had this with our buyers (said they were cash buyers but then decided to sell and loop in a chain) and it has been an absolute nightmare, taken months, and constant stress. Find another property!

Out of interest, how long did it take you in the end? Or if you’re still in the process, how long has it been so far? 

We are now on month 6 after we were supposed to complete early December. Still no exchange and lower chain has a long way to go yet. We told our buyers to break the chain to exchange tomorrow or we drop out. If we had known earlier we would've saved ourselves a whole load of stress and money. How long is the chain for you going to be now if you continue? Honestly I wouldn't continue with them simply on the basis of being untrustworthy, they are likely to cause problems later in the process. 

BrumBab30

dodo1990 said:

BrumBab30 said:

dodo1990 said:

Walk away. We just had this with our buyers (said they were cash buyers but then decided to sell and loop in a chain) and it has been an absolute nightmare, taken months, and constant stress. Find another property!

Out of interest, how long did it take you in the end? Or if you’re still in the process, how long has it been so far? 

We are now on month 6 after we were supposed to complete early December. Still no exchange and lower chain has a long way to go yet. We told our buyers to break the chain to exchange tomorrow or we drop out. If we had known earlier we would've saved ourselves a whole load of stress and money. How long is the chain for you going to be now if you continue? Honestly I wouldn't continue with them simply on the basis of being untrustworthy, they are likely to cause problems later in the process. 

Oh wow! 6 months! Well this is the thing we have no idea on how  long the chain is as we only found out this information yesterday. Well firstly we are first time buyers so we are chain free. Then the EA told us that they are waiting for the sale of the parents house, so they can combine the pot from that sale with the sale of their house. So really we could be potentially waiting on two separate chains. But we wouldn’t this for a while yet.

We have told our solicitor to pause our case until after we go and visit the house again next week and the sellers are insistent on speaking to us so we can understand the extent of their situation. If we are not satisfied we will call our solicitor and EA the next day and pull.

To be honest, we are just focused on the financial loss for us as we have lost money or the survey and all the work the solicitors have done so far…meanwhile sellers will move on and put it up for sale again, sell it and then buy a new house with a pot of money from 2 house sales.

Just feel like we are being taken for mugs as we are FTBs!

dodo1990

BrumBab30 said:

How much are you set to lose if you drop out now in fees etc? Is the house absolutely perfect, or would you get over it if you dropped it and found an even better house?

Being FTBs you are in an excellent negotiating position for purchasing and can easily have an offer accepted £10k less than a top offer for your position alone, so don't let anyone treat you like mugs. 

I would pause on your progression of this one, look for other houses, give yourselves 4 weeks. If you find another dream house, drop these fools.