House chain delay

Tabieth

gadget88 said:

I would rather not pull out but where would funds come from for a hotel? And my fear is these new build delays could be longer my solicitor isn’t keen to leave me homeless 

If you really have no contingency funds for this then maybe the property is over your budget? 

I recently bought (in England). I completed in January but didn’t move in until the end of March. I always knew I’d have one month of paying both rent and mortgage, in the end I had two month’s. That was an unexpected expense but I always knew there would be some unanticipated costs and reflected that in my budget. 

Buying is stressful. There are many things beyond our control. And there will always be unexpected costs. 

gadget88

Tabieth said:

gadget88 said:

I would rather not pull out but where would funds come from for a hotel? And my fear is these new build delays could be longer my solicitor isn’t keen to leave me homeless 

If you really have no contingency funds for this then maybe the property is over your budget? 

I recently bought (in England). I completed in January but didn’t move in until the end of March. I always knew I’d have one month of paying both rent and mortgage, in the end I had two month’s. That was an unexpected expense but I always knew there would be some unanticipated costs and reflected that in my budget. 

Buying is stressful. There are many things beyond our control. And there will always be unexpected costs. 

Yes fair point but all the money in the world the fact I have to possibly move twice really puts me off as this wasn’t the plan. The idea was the sale would tie in with the move. In my opinion it’s the other seller who needs to look at alternative accommodation. 

Tabieth

gadget88 said:

Tabieth said:

gadget88 said:

I would rather not pull out but where would funds come from for a hotel? And my fear is these new build delays could be longer my solicitor isn’t keen to leave me homeless 

If you really have no contingency funds for this then maybe the property is over your budget? 

I recently bought (in England). I completed in January but didn’t move in until the end of March. I always knew I’d have one month of paying both rent and mortgage, in the end I had two month’s. That was an unexpected expense but I always knew there would be some unanticipated costs and reflected that in my budget. 

Buying is stressful. There are many things beyond our control. And there will always be unexpected costs. 

Yes fair point but all the money in the world the fact I have to possibly move twice really puts me off as this wasn’t the plan. The idea was the sale would tie in with the move. In my opinion it’s the other seller who needs to look at alternative accommodation. 

I really do sympathise. It’s stressful and awful. But it’s part and parcel of buying a property. It wasn’t my plan to have two months paying rent and mortgage. But I did it because otherwise I’d have been living in a building site. 

As I say, I don’t know the Scottish system so I can’t advise on the specifics. I’d be speaking to the solicitor to get options.  But if it all does fall through I’d imagine that will cost you far more than a Airbnb and a couple of week’s storage. 

Anyway, good luck. 

sheramber

gadget88 said:

Tabieth said:

gadget88 said:

I would rather not pull out but where would funds come from for a hotel? And my fear is these new build delays could be longer my solicitor isn’t keen to leave me homeless 

If you really have no contingency funds for this then maybe the property is over your budget? 

I recently bought (in England). I completed in January but didn’t move in until the end of March. I always knew I’d have one month of paying both rent and mortgage, in the end I had two month’s. That was an unexpected expense but I always knew there would be some unanticipated costs and reflected that in my budget. 

Buying is stressful. There are many things beyond our control. And there will always be unexpected costs. 

Yes fair point but all the money in the world the fact I have to possibly move twice really puts me off as this wasn’t the plan. The idea was the sale would tie in with the move. In my opinion it’s the other seller who needs to look at alternative accommodation. 

Have you put that point forward to your vendor? 

It is all a matter of negotiation. 

gadget88

sheramber said:

gadget88 said:

Tabieth said:

gadget88 said:

I would rather not pull out but where would funds come from for a hotel? And my fear is these new build delays could be longer my solicitor isn’t keen to leave me homeless 

If you really have no contingency funds for this then maybe the property is over your budget? 

I recently bought (in England). I completed in January but didn’t move in until the end of March. I always knew I’d have one month of paying both rent and mortgage, in the end I had two month’s. That was an unexpected expense but I always knew there would be some unanticipated costs and reflected that in my budget. 

Buying is stressful. There are many things beyond our control. And there will always be unexpected costs. 

Yes fair point but all the money in the world the fact I have to possibly move twice really puts me off as this wasn’t the plan. The idea was the sale would tie in with the move. In my opinion it’s the other seller who needs to look at alternative accommodation. 

Have you put that point forward to your vendor? 

It is all a matter of negotiation. 

Yes I’m just waiting to hear now

gadget88

They set a new date but it has to be agreed with people buying here 

dharm999

And what happens if the date slips again?  If it were me, I would be insisting that they move in to rented accommodation and take the risk of an extended stay in rented property.  You could be stuck for months

saajan_12

gadget88 said:

They set a new date but it has to be agreed with people buying here 

How far ahead is the new date? I'd try to get all parties to exchange NOW with completion set to that new date, so that you know it can't slip further. Then if the seller's new build isn't ready yet, they would have to go into rented in order to sell to you. 

If you don't, then the date could be further delayed and you still won't have any comeback if your buyer eventually pulls out. 

gadget88

dharm999 said:

And what happens if the date slips again?  If it were me, I would be insisting that they move in to rented accommodation and take the risk of an extended stay in rented property.  You could be stuck for months

She says she will move regardless 2 weeks later on this new date even if house isn’t ready. Question is why can’t she do that now? If we complete house sale here it’s a big risk as you say if date slips again we are homeless

teaselMay

I think you've answered why she can't now with why you can't now, expense