Backstory - I bought my flat four years ago. Six months later met my now husband and eventually moved into his flat. at the time i was very ill and we decided to rent out my flat before deciding what to do with it. I bought my flat for £305k - it's relatively small, first floor floor (London subs) but it's nice enough but it's on a lovely development with gardens and playgrounds etc
Now we are looking to buy a house and trying to sell the flat in order to pay for it. Originally we put it on as a tenanted flat and only had one viewer who offered 287k for it. I recognise flats aren't selling well and agreed including the excellent tenants and all the furnishing in the deal.
8 weeks later mortgage offer and survey done and we finally hear from their lawyer asking us if the property is vacant. we said no it's being sold with tenants in situ. they said no they've asked for it vacant.
A LOT of back and forth and several stories from a very confused agent firstly saying they want the tenants but want it on a residential mortgage so want us to say it's vacant when its not (something that i am not willing to do as have a job that depends on me having an impeccable record) and then says they want to live in it cos they love it but thought they'd take the tenants on and evict them themselves to make the sale easier.
I get pissed off and put the flat on the market but it's not the best investment as far as BTL is considered. So after a while i agree to sell to original buyers after they were calling the agent in tears - they are first time buyers and just made a mistake please please reconsider - and agree to sell with vacant possession and that they have to get a new lawyer as the first one didn't touch the case for 8 weeks. I have given my tenants notice and have helped them find somewhere else and they are leaving on 26th October.
Two weeks later i don't even have the name of the solicitor and after several chases i finally get one. Two weeks now since then and their solicitor hasn't even confirmed that they are acting for the buyers despite several chases from my lawyer.
My agent says issue an ultimatum. But the problem is flats are not selling well in my area at all. places that were selling for 50k more than mine when i bought it are listed at 300k and some that were selling for 20k more than mine are listed at 280k. So it's gonna cost us a small fortune if they pull out now. Plus i'd need to piss off the tenants to have more viewers etc round.
It's been over 3 months since the offered agreed and we don't even have a confirmed solicitor yet. i get we can't exchange until the tenants are out but want everything done to exchange the day after they move.
Do I issue an ultimatum and if so how much time do i give them, just pull out and be done with them or keep going?
Thanks