Vendor not responding

Flugelhorn

 I don;t think you can exchange without a completion date - I know developers do for new properties but that is different and the completion is done on notice with a long stop date. 

HampshireH

Set your boundaries and stick to them

You have already said end of march. Now considering end of April. They will keep messing you around if you keep changing the goal posts. 

Make a decision you are happy with. Present it and if your not happy tell them. But stick to your guns.

Personally I'd stick with March (at the latest) April is too close to mortgage expiring for something to go wrong and be sorted 

In the meantime view others else you will be back in September again and still renting

Slithery

Your vendors solicitor won't let you exchange until their client is ready. You can't exchange without setting a completion date, and setting one that's after your mortgage offer expires could leave you in a very deep pile of doo-doo if you can't get an extension (tens of thousands of pounds worth if you fail to complete).
Your only options are...
1. Carry on waiting until your vendors have found somewhere.
2. Pull out of the purchase.

badger09

dizzyduch said:

Sooo…vendors have said they can’t find anywhere to rent or buy! They have asked how long can they have to find a place to buy??!
We’re wondering if we should pull out now because this uncertainty could potentially carry on for months ?
Or do we exchange giving till end of April, that’s when our mortgage offer expires

Or do we just exchange without a date at all and continue to wait? (We love this house) 

Is there a risk they may ask for more money when we finally get to complete?

fed up now …

The ball is in your court - well, on the line I suppose

Your vendors initially said they would rent/move in with family. Now it seems, moving in with family is out of the question, leaving renting. They can't (apparently) find anywhere suitable, which may or may not be true. At the moment, you seem to be prepared to wait indefinitely for them. In which case, they're in no hurry and will continue to look for rental at their own pace, or find somewhere else to buy, which brings the possibility of extending your chain still further. How do you feel about that?

Only you know whether this house is worth waiting much longer for. I would be tempted to now give them an ultimatum - Exchange by say, 25 Feb with completion on say, 29 March. That gives them another 6 weeks to find rental or make other arrangements. BUT you must be prepared stick to this or to lose this house. Up to you.

In the meantime, keep looking for something else. Good luck

dizzyduch

badger09 said:

dizzyduch said:

Sooo…vendors have said they can’t find anywhere to rent or buy! They have asked how long can they have to find a place to buy??!
We’re wondering if we should pull out now because this uncertainty could potentially carry on for months ?
Or do we exchange giving till end of April, that’s when our mortgage offer expires

Or do we just exchange without a date at all and continue to wait? (We love this house) 

Is there a risk they may ask for more money when we finally get to complete?

fed up now …

The ball is in your court - well, on the line I suppose

Your vendors initially said they would rent/move in with family. Now it seems, moving in with family is out of the question, leaving renting. They can't (apparently) find anywhere suitable, which may or may not be true. At the moment, you seem to be prepared to wait indefinitely for them. In which case, they're in no hurry and will continue to look for rental at their own pace, or find somewhere else to buy, which brings the possibility of extending your chain still further. How do you feel about that?

Only you know whether this house is worth waiting much longer for. I would be tempted to now give them an ultimatum - Exchange by say, 25 Feb with completion on say, 29 March. That gives them another 6 weeks to find rental or make other arrangements. BUT you must be prepared stick to this or to lose this house. Up to you.

In the meantime, keep looking for something else. Good luck

We’re FTB living family, so not tied in a chain at all. The vendors have now said, they want to wait till they find a house to buy not rent. 

Our mortgage offer expires in April, we asked if they could exchange/complete by then, came back as a flat no.
we love this house and with property prices ever increasing we won’t find a similar house for that price.
we have said we will wait as long as they agree not increase the selling price when we come to exchange, we know it will be a gentleman’s agreement and nothing more.
I think we will continue to keep our eyes on the market also … till then we wait 😓

TTM

Has there been any progress here?

dizzyduch

TTM said:

Has there been any progress here?

Hi Tim

Unfortunately not, we tried to push even t tried upping our offer to have the vendors move into to rented. We’ve given up on that house now, we have had an offer accepted on another just last week, chain free this time.

Just wish we had waited on having searches and surveys till we knew the vendors had found a house. Live and learn! 

Flugelhorn

Good news and hope it all goes well - maybe the first lot of vendors will either stay or think differently about the move - it is a frustrating market.  I have a friend in rented, cash buyer,  just (finally) got an offer accepted on a place but of course the vendors haven't found anywhere yet ... how long will it be? .. will their offer get accepted? ... will they give up looking? .. will their vendors then have to start looking?

TripleH

Op, thanks for the update and good luck with your new purchase

If you're a cash buyer/chain free I'd keep looking until the chain completes in these scenarios. It just saved on the heartache.

TTM

Thanks for the update. 

We are in the early stages of a similar situation and unfortunately it was too late to delay the survey we had booked.  I’m just hoping and praying things move along. 

Best of luck