Buyer at start of chain want us to pay their rent due to our delay - weird, no?

[Beckadillo]

We accepted an offer on our house at the start of the summer, and our buyers have been very patient waiting for us to find the Right House. They have a first-time buyer for their property who has been able to buy since his funds cleared this month. We've now found a house, and hope to exchange immediately, with a view to moving just before christmas, which our buyers have accepted with good grace.

However their buyer is kicking up a fuss about waiting (a bit rich as he's only just become able to actually buy) and has said that he wants us to contribute towards his 'extra' rent while he waits to move (though he won't be paying a mortgage, so that must balance things out a bit). That's very weird, isn't it? I was initially sympathetic as I know his tenancy agreement officially ends in November, and had even started asking around locally if there was anywhere affordable he could stay, but asking us for cash? His contract isn't even with us, after all.

I obviously don't want the chain to fall through now that we've found somewhere to buy, but am tempted to tell him to sod right off (politely, via estate agents).

What do you think?

[lalalonglegs]

Madness - but never underestimate the entitlement of some buyers.

[EssentialHummus]

That doesn't sound right at all. 1) Until you exchange you're not in any kind of formal contract with your buyer - you could blow it off tomorrow without consequence and 2) you have no relationship with this person down the chain.

It sounds like someone desperate to move and trying to kick things off a bit.

[Mybeardeddragonjustdied2016]

Tell him as you are moving near Xmas can he help you out with your Xmas shopping?

[namechangedtoday15]

There was a thread on here a month or so ago - the girl who posted was the first time buyer demanding rent. Have a look through the archives and see what response she got!!

Having said that- its only September - and you're exchanging quickly - why are you only moving just before Christmas?!

[TondelayaDellaVentamiglia]

presumably the vendors of the house he is buying have already told him to trot on, so he's escalating it up the chain ....trying to work on The Fear with people who have more to lose

If I wanted to be conciliatory I might offer something IF AND ONLY IF things drag on into the New Year and then move heaven and earth to make sure that offer was never needed.

[Sukitakeitoff]

That's a very long wait between exchange and completion so I can see why they buyer would be frustrated, but no I wouldn't pay their rent.

[Sukitakeitoff]

Just re-read the op - I can't believe it's your buyer's buyer, not even your buyer! Ignore ignore ignore - I wouldn't even repsond (unless your solicitor thinks you should of course)

[Ifailed]

no harm in him asking, and by your own admission you are stringing things out to xmas, presumably because its convenient for you.

[Jackiebrambles]

Madness!

Although some first time buyers (from my own experience) and from seeing a few other similar demands on here, appear to live on another planet from the rest of us.

[Beckadillo]

Briefly as nursery run imminent - we're exchanging quickly to bags house and reassure buyers, but don't want to move till the end of term to keep disruption to 3DCs in school/nursery to a minimum (and also to give time to find places for them, which is not proving easy - we obviously couldn't apply for in-year transfers till now, and there are very few available places).

I do understand his frustration and was willing to try and help on a practical level (possibly finding a local room with a mate of ours who rents out casually, possibly storing some of his stuff in the interim) but the cash request has put my back up a bit...

[JessieMcJessie]

You have no contractual relationship with him. ( nor indeed your buyers till you exchange). How is he even communicating with you?
At best he could get the money out of you on the basis of reducing the risk that he'll pull out and collapse the chain but how exactly would you document that?

Timing difficulties are just a hazard of house buying and he needs to suck it up. Perhaps if you had somehow made a firm representation that you'd move sooner you might feel some moral obligation to help him out, but even that is stretching it.

He has to pay living costs of some sort regardless of whether it's rent or mortgage. Is he asking for the difference between the mortgage and the rent on the basis the rent is higher?

[wayway13]

That's just not how chains work! Chains are shit but it is not your responsibility to do anything for your buyer's buyer. How entitled! Ignore.

[TweedAddict]

We had this with our last sale, it was a rather big chain as well. In the end the rest of the chain decided to pay 3/4 of the last months rent. It worked out as £105 each. A cheek to ask but the house he moved into quite literally took everything out of spite so I think it cost him more in the long run anyways.

[wowfudge]

We had this from the ftbs at the start of our chain. It wasn't even taking a particularly long time - it was 14 weeks from completion of the chain to completion day. The only hold up was over Christmas when our vendors went away and left everyone waiting for their decision on whether to accept our offer. We took the view that they could sod off as everyone else was selling and buying. We weren't even sure they were actually renting.

[Beckadillo]

So not unprecedented then TweedAddict but not usual either... £100 contribution would be one thing but I assume it'd be a damn sight more, being sarf London and us the only contributors.

In answer to a previous question, he's able to talk to us as the same estate agent is handling our sale and that of our buyers, so in direct contact with all involved (apart from our vendors). The agents have come out with some odd things recently, so I wonder if it was their suggestion...

[Cherylene]

TBH, I would be pissed off if, having waited from the beginning of Summer for someone further up the chain to find a house to buy, and having got all the paper and financials in order, I was being asked to exchange quickly and wait a further 2-3 months for completion and would be looking elsewhere.

[Beckadillo]

But his offer wasn't put in till August, and he's not been in a position to buy till this month (was waiting for funds to clear) it's our buyers who've been patiently waiting (am v grateful for that)...

[wowfudge]

I wouldn't complete just before Christmas. And certainly not if further delay puts the chain in jeopardy. Get it over with as soon as you can. If anything goes wrong that last working week of December, nothing will be resolved until the New Year.

[OrianaBanana]

The only thing that would worry me is, how likely is it that he will pull out if you don't offer him something, leading to the chain collapsing?

[Beckadillo]

I know what you mean Oriana, and we might try to offer some practical help if he's not able to extend his rental contract, but he'll have living costs whether rent or mortgage. Asking for cash is just a bit unpleasant - isn't he basically holding us to ransom?

Moving house is not my best thing...

[OrianaBanana]

He pretty much is holding you to ransom, yes - although presumably he hasn't actually threatened to withdraw yet.

Alternatively it may be the Estate Agents trying to hurry things up a bit through him. They won't want to lose the sale(s) though.

[Chillywhippet]

Have you just found the house you are buying? If so can you exchange immediately? It usually takes ages to get ready to exchange (searches, survey etc).

[bigkidsdidit]

I think you are being a bit cheeky - they patiently wAited for you to find a house, then you don't want to move for three more months just to lessen disruption. Who knows what disruption will happen to others in the chain as a result of this waiting.

[21stCenturyBreakdown]

You're being unreasonable - why does the timing that's convenient for you trump the timing that's convenient for him? And the difference between his living costs being mortgage or rent does matter - one is an investment, the other is money is somebody else's pocket. You're asking him to incur extra costs to suit you. You need to find a way to compromise - either financially or by adjusting your dates.

[XinnaJane]

Agree with pp - you're asking the rest of the chain to wait to suit your timings. I would be annoyed if I was incurring costs because of your worry about school places etc