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Property buying/selling chains - AIBU?

(7 Posts)
Appletree4 Thu 12-Oct-17 15:12:32

Hi wise ones,

Quick question: we are in the process of buying and selling and it's all been extremely slow. The sellers above us have an issue with land registry that is due to be sorted on the 23rd Oct but the buyers below us (who have been pushing to get this all moving since day 1) are now refusing to hand in notice on their rental prior to exchange of contracts. I wouldn't mind but they can only give notice on the 22nd of any given month which means it'll have to be the 22nd Nov now. And they refuse to move until they have made use of the money they have paid in rent, so we are looking at mid- end of December
They haven't even approached their letting company to request some leeway on this.

It was my understanding that first time buyers were more desirable as they are end of chain and more flexible??
This couple have no furniture and no children where as the rest of us in the chain do.

What would you do in their situation...are they justified??

Thanks in advance, this is playing on my mind a lot and I don't know if I'm being unreasonable hmm

GU24Mum Thu 12-Oct-17 15:14:57

The FTBs are very sensible not to hand in their notice until exchange. The other part is "just" a question of money. If you and the others want to complete more quickly than the FTB do, you should be able to come to an arrangement with the FTBs to ease the double rent/mortgage for them.

Allthebestnamesareused Thu 12-Oct-17 15:29:23

I was going to suggest the same.

As FTB money may be a bit tighter.

To resolve the double rent/mortgage situation if, for example, their full month's rent was £800 then 2 weeks would be £400 so would you and the person next up the chain be prepared to chip in say £200 each to have them complete 2 weeks after exchange instead of a month after?

wowfudge Thu 12-Oct-17 15:31:57

And if the LR issue isn't resolved by 23 Oct and they've given notice and need to be out before contracts have even been exchanged - how is that fair? Renters are always advised not to serve notice until contracts have been exchanged.

specialsubject Thu 12-Oct-17 15:46:23

There is no leeway for the renters, legally they must give a months notice as described. They can move house before the end of the notice - in fact an overlap is quite handy - but they still have to pay for the place.

Nothing is certain until exchange, so they are quite right to hold off until then.

Having children or not is utterly irrelevant.

Appletree4 Thu 12-Oct-17 15:57:42

Thanks all

Sounds like I am being unreasonable then grin

I'll give them a break!

specialsubject Thu 12-Oct-17 18:09:10

smile

This time next year it will all be a blur! Hang in there.

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