Vendors telling porkies!!

GingeG

Now then heres a thing

We had dilemma of two houses one in the location we wanted for Mrs Ginges work etc other out of town by 5 miles but on at 20k less (same sort of spec houses).

We went with dearer one cos vendors told us they would move in with family if they got a sale. We have no chain and do not want to play that game. We had hoped to exchange yesterday but guess what got a phone call at 505pm saying that there house was in a related sale and that they would be a few more weeks!! before exchange / completion we are not amused. Lawyer dug out blind for us and from flash to bang we were ready, deposit with lawyer, surveys done, searches etc in two weeks!!

What should I do? I do not want to pull out of this property not just because of survey and search fees but because we want it but we have now got to stay in rented another month If landlord will let us as I gave notice last week.

Should I start dropping my offer price?

GingeG

I should have said we were all told from start they wanted to complete by 26th hence the speed!!

We are now ready and have given the deposit etc to our solicitor.

Now they are saying that it may be a few weeks GRRRRRRRRRRRRRRRRRR

Happy_saver_4

Before you reduce your offer I should check out what else is available and have prices been falling? I suggest you have another alternative property before attempting to re-negotiate the terms or price.

I can understand you feeling aggrieved by broken vendors promises; unfortunately it happens all the time. Until that contract is exchanged always view vendors/agents comments with a great deal of skepticism.

If you also wish to be Mr Nasty you can play brinkmanship by reducing your offer on the day the vendor is wanting and expecting you to exchange contracts. At that point he may also have made other commitments and accept a much lower price to see the sale conclude. But, he may tell you to get lost

GingeG

Happy Saver thanks

I am not interested in gazundering in anyway shape or form. I am a man of honour and being Scottish I despise the English way of conveyancing.

I am however living in England so I guess I have to play along. I will not be gazundering though no way!! We agreed a price and we we thought a date thats my grievance!!

Ian_W

Personally, I'd play hardball with them.
Get hold of your lawyer Monday AM, tell him to tell their lawyer that you have given notice on rented acc on the basis they wanted to complete x 26th, they had undertaken to stay with relatives if they could complete their purchase - you expect completion by 26th or no sale will take place.

Put them behind Ball No 8 as their purchase will fall through if you pull the plug. If they could stay with relatives when they told you that, they can now. Or they can find rented. They're just extracting the Michael cos they know you want the house and think they can string you along.

Doesn't commit you to pulling out - just makes them think you will!

GingeG

I agree Ian

I wantedt to tell EA today that I wanted a date for completion and exchange etc by 5 tonight or deal was off but Mrs Ginge nearly knifed me!! LOL

We will start to get tougher on Monday thanks for your reply

Happy_saver_4

GingeG wrote:

Happy Saver thanks

I am not interested in gazundering in anyway shape or form. I am a man of honour and being Scottish I despise the English way of conveyancing.

I am however living in England so I guess I have to play along. I will not be gazundering though no way!! We agreed a price and we we thought a date thats my grievance!!

Hi Ginge,

Couldn't agree with you more - I used to buy houses and do deals on the shake of hand. That's when people were honourable and the deal used to go thru. Some you'd win and some you'd lose. But, you'd still do the deal shaken on.

I've now modified this slightly over the years . I let the other guy make the rules. Then I play to his rules and then if he gets burnt that's his own fault; he should have stayed honest and honourable.

Cheers - Happy

GingeG

Happy saver

I agree I have already lost one earlier this year when I was lied too. To be honest I probably shoud have styed with them but I cannot stand liars.

I am old school a shake of the hand in my book is binding.

Ian_W

Ginge,
Mrs Ginge sounds like the blessed Mrs Wublehu - you could always end her round!! Scarey or wot? :eek:

Been thinking - you're now in a chain if hardball don't work. You don't even know the position of those further up, could be 8 - 12 weeks if there is a few involved, some may not even have found where they're moving to. So you really need it to work.

I would also ring EA to-morrow as Mr Angry :mad: - Ginge & Scots - that's bound to be hard!! Don't be angry at EA but have a rant about vendor letting you down & thinking of pulling out etc. Should get message to vendors soonest.

Agree with you & HS about people lying, can't stand em, if I agree to something I stick by it. Doesn't seem to be the way with some folk these days, so like HS says let them pick the rules & fight by them.

Best of luck, let us know what happens.

meanmachine_2

I'm confused. This was a chain comprising exactly one house - the owners were going to move in with rellies to let you complete by a certain date. right?

Why can they not move in with rellies?

Weigh up how much you've already spent, then balance that against another month's rent/hassle less mortgage payments.

If the vendors think it'll all be completed within another month, then stick it out.

Problem is, can you believe them?

Ian_W

GingeG wrote: saying that there house was in a related sale and that they would be a few more weeks!!

You've missed the point meanmachine.

It WAS simply one property being sold, OP no property to sell and vendors moving out. There is now another purchase/sale involved, presumably vendors buying somewhere else and NOW not willingly moving out until they do. But often one property leads to another property until you end up with a quite lengthy chain, all going to move on the same day.

There is a real possibility, with the initial sale having progressed so quickly at the vendors request, that a chain is forming but isn't even yet complete, i.e. the people the vendors are buying off may not have found somewhere to buy or somebody above them hasn't.

Until there is a start and finish in place & everyone has had surveys done, mortgages offered, searches done etc, it ain't going anywhere. Once the chain's in place, and GingeG can't be sure it is yet, 8-12 weeks isn't unusual to completion. So from completion next week the prospect is possibly end of October or even November.

And it looks very much like the vendors have renaged on going to rele's, probably to save the hassle & expense of storeage. So I don't think Ginge will find it hard to conclude - he cannot trust them. Hence the advice to try and force their hand or potentially face the prospect of a lengthy wait and a lot of uncertainty.