No question - just need to vent about my AWFUL vendor!

robatwork

Personally I would pull out as this will probably not end well, or at best add an unreasonable delay. You could show them your sums to demonstrate that it's not an enormous saving in the scheme of things.

On your other rant "it's doubled in price in 2 years" - you won't be ranting if you buy it and in 2024 it's worth £330k.

nyermen

I'd walk away if theres a delay - chances are with an extended delay, they'll then take another look at the market and think they can get more anyway and so relist...

Chris_English

Not nice, so an understandable rant.

If it were me I’d tell them that unless they go ahead as planned, without the new shenanigans, that I’d be walking away. It may bring them to their senses, but if not it’s time to start looking elsewhere.

The other option is to say nothing to them, as your solicitor to put the work on hold, and start looking again. This route means that if your search doesn’t show anything suitable then you may still be quicker getting this one.

Skiddaw1

I agree. If, after the weekend, they're determined to go ahead I'd make it clear that you'll be viewing other properties.

So sorry- it must be immensely stressful- but as others have said, if this one isn't meant to be something else WILL be the right one.

GDB2222

Saving £5k in tax is not to be sniffed at, although the sellers have left it late in the day to realise. 

I’d check with your lender whether they will lend within 6 months of the transfer to joint names. They may be happy with that.

Also, there’s surely no reason to wait for the Land Register to be updated before you purchase. Check with your solicitor, but it’s perfectly fine usually to rely on undertakings from the vendor’s solicitor to sort out the LR in due course.

In other words, there’s probably been a load of misinformation on this thread. You need to check, but there’s a good chance that this transaction can just proceed without any significant problems or delays. 

p00hsticks

GDB2222 said:

Also, there’s surely no reason to wait for the Land Register to be updated before you purchase. Check with your solicitor, but it’s perfectly fine usually to rely on undertakings from the vendor’s solicitor to sort out the LR in due course.

That's the case to get the LR into the new owners names. But here the seller is talking about changing the ownership of the property prior to the sale. so that they wonlt have to pay as much CGT - so I think that would have to be done before the sale takes place.

Soot2006

How much rent are they losing/not getting each month for it being vacant?  That will also eat into the CGT "saving".

With vendors like this, you might wait 6-7 months and then they will have a new reason why they can't sell. Definitely  start viewing houses, especially with their EA so that the message gets back to them loud and clear.

babyblade41

Love your rant and Lit's how I fet this morning on our sale .
Our buyers are cash and no sale needed and in 2 months they have done diddly squat.

My OH went to agents this morning to tell them to re-market as these people are taking the pss... entitled !!!!!! is what my OH called them .

They had the audacity to say that if we re-market they will pull out... so we said "ta ta" They have been in rented since last year , as they haven't actually done anything there was nothing to really pull out of .

Some people are just so big on their self importance.  Find another house and think of this as a blip. 

If you have a LL he can't just throw you out just because, so don't worry too much about being homeless, only you and a court can do that 

Life's too short to waste it  especially when it's someone else who is dictating how you run , ditch them and maybe they might think next time 

GDB2222

p00hsticks said:

GDB2222 said:

Also, there’s surely no reason to wait for the Land Register to be updated before you purchase. Check with your solicitor, but it’s perfectly fine usually to rely on undertakings from the vendor’s solicitor to sort out the LR in due course.

That's the case to get the LR into the new owners names. But here the seller is talking about changing the ownership of the property prior to the sale. so that they wonlt have to pay as much CGT - so I think that would have to be done before the sale takes place.

Indeed. They complete a TR1. How long will that take? 2 hours, maybe.

Thrugelmir

babyblade41 said:

They had the audacity to say that if we re-market they will pull out... so we said "ta ta" They have been in rented since last year , as they haven't actually done anything there was nothing to really pull out of .

They've a costly tenancy agreement to exit. Stalling for time saves money.