Clarifying Sellers Position

simon_or

Brie said:

Our EA kept telling our buyer we were willing to go into rented despite us repeatedly telling them it wasn't an option.  They kept insisting we would lose the buyer - which we nearly did as things took forever but we just couldn't consider it due to having an elderly cat.  Also we were selling 2 properties have having ongoing problems with the other buyer and didn't know if or when it would be resolved.  As it was we did go to a hotel for a few days while the cat had a spa holiday of her own (cattery which she loved) as we ended up with about 4 days difference in the sell dates.

I had the same experience, my agent was even trying to convince me to list it as chain-free even though I repeatedly told him that unless everything turned to !!!!!! there was no way I could contemplate moving into a rental.

God only knows what he told the buyers though, we were scrupulously insulated from any communication, I've noccomplaints with that

[Deleted User]

Just to add my experience to this. We had sellers who stated they would go in to rented if they didn't see the right thing etc. I was very nervous and sceptical about this and kept expecting them to turn around and say they had now found somewhere or we'd have to wait. They didn't have a huge motivation to sell and we'd purchased sort of off market. 
However, it was a really quick sale and we were all ready to exchange after 10 weeks and the vendors moved in to rented as promised to then go on and find their dream home.
Some people do stick to their word!

lookstraightahead

As a seller I have always gone into rented and as a buyer my sellers have always moved out quickly as they were serious sellers.

It depends how much they want to sell really, some will balk and make up excuses. Others will keep to their promises. Just like normal life.

Snow_Phoenix

Thank you for all your replies. It is interesting to hear from some sellers it could be something the estate agents could be trying to encourage rather than something the seller has agreed to.  

I guess there is really no way to really know without having direct contact with the seller. 

I feel we will just have to take a chance and see. 

diystarter7

OP

Check how long the property has been on the market.
Ask if it has been on the market before and if taken off why, do your research
Look at their family dynamics ie set and reason why they want to move. If its a job offer or working far away and returning on weekends then they are serious IMO.
If they have accepted an offer which may be true, the offer may have come from idiots that live in a dream world so the offer they have got are those people in a chain etc.
People lie.
Circumstances change.
People change their minds.

Being involved in a chain, small one is a nightmare at the best of times. A chain that has several linked to is is a nightmare that puts many off from ever moving

A solution is, try to be chain free and if you are selling one and have a good idea where you are going and can do it reasoably quickly, move to rented especially if the other property you like/buying is chain free but fo whatever reasons completion dates cant be matched.

Spreadsheetman

Don't believe the vendors when they say they will move out, that is very unlikely. Especially if they have children and/or pets.

We have had a purchase fall through recently, the vendors promised to offer us a chain free transaction right at the start. We even offered over the odds to secure it on that basis. Got within a week of exchange and they pulled out.

eidand

eddddy said:

eidand said:

I would not spend a dime until the chain is complete. Also, assume they won't move into renting whatever they say now.

That's a bit of a tricky approach.

If the seller says they're going into rented, you seem to be suggesting that the OP should say...

"I don't believe you're going into rented, so I'm not going to instruct a solicitor."

"I'll only instruct a solicitor when you admit to me that you're not going into rented, and you have a complete chain above you."


I can see it's a tricky situation, but that might not get things off to a good start. (It's possible that the sellers really would go into rented. I went into rented once, in similar circumstances.)

That's not quite what I said. The point was to not spend money until the chain is formed and also to not rely on the vendors going into renting. many do not. Expect delays and also expect the whole thing to fall through at last minute.

donutandbeer

eidand said:

eddddy said:

eidand said:

I would not spend a dime until the chain is complete. Also, assume they won't move into renting whatever they say now.

That's a bit of a tricky approach.

If the seller says they're going into rented, you seem to be suggesting that the OP should say...

"I don't believe you're going into rented, so I'm not going to instruct a solicitor."

"I'll only instruct a solicitor when you admit to me that you're not going into rented, and you have a complete chain above you."


I can see it's a tricky situation, but that might not get things off to a good start. (It's possible that the sellers really would go into rented. I went into rented once, in similar circumstances.)

That's not quite what I said. The point was to not spend money until the chain is formed and also to not rely on the vendors going into renting. many do not. Expect delays and also expect the whole thing to fall through at last minute.

So if the vendors are really going into rented or moving to family’s, what do they have to do in order to have their buyer start instructing solicitor .etc? Do they have to move say three months in advance? Not everyone can afford to, not to mention what if their first buyer pulls out or the whole process takes longer than expected.

We were glad we didn’t move straightaway when we accepted our first offer, because that buyer ended up pulling out. We moved to family’s after exchange, if our buyer asked us to prove that we are really going to move to family’s house by moving after accepting their offer then we would have to pay three months more for storage and living in suboptimal condition for three months more. 

If the vendors say with certainty that they will move to break the chain, then it’s kind of useless to suggest not spending any money until the chain is formed - because that will only happen if they move into rented/family’s months in advance, risking spending more money when their buyer could pull out anytime. 

Obviously the vendors could be lying or just not sure. Only one way to find out. Or just avoid offering on most chain-free properties 😂

eidand

donutandbeer said:

eidand said:

eddddy said:

eidand said:

I would not spend a dime until the chain is complete. Also, assume they won't move into renting whatever they say now.

That's a bit of a tricky approach.

If the seller says they're going into rented, you seem to be suggesting that the OP should say...

"I don't believe you're going into rented, so I'm not going to instruct a solicitor."

"I'll only instruct a solicitor when you admit to me that you're not going into rented, and you have a complete chain above you."


I can see it's a tricky situation, but that might not get things off to a good start. (It's possible that the sellers really would go into rented. I went into rented once, in similar circumstances.)

That's not quite what I said. The point was to not spend money until the chain is formed and also to not rely on the vendors going into renting. many do not. Expect delays and also expect the whole thing to fall through at last minute.

So if the vendors are really going into rented or moving to family’s, what do they have to do in order to have their buyer start instructing solicitor .etc? Do they have to move say three months in advance? Not everyone can afford to, not to mention what if their first buyer pulls out or the whole process takes longer than expected.

We were glad we didn’t move straightaway when we accepted our first offer, because that buyer ended up pulling out. We moved to family’s after exchange, if our buyer asked us to prove that we are really going to move to family’s house by moving after accepting their offer then we would have to pay three months more for storage and living in suboptimal condition for three months more. 

If the vendors say with certainty that they will move to break the chain, then it’s kind of useless to suggest not spending any money until the chain is formed - because that will only happen if they move into rented/family’s months in advance, risking spending more money when their buyer could pull out anytime. 

Obviously the vendors could be lying or just not sure. Only one way to find out. Or just avoid offering on most chain-free properties 😂

that's exactly what I've done, only looked at true, chain free properties.