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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Being pushy with my buyers

9 replies

Pinkbottletop · 22/08/2022 10:12

I accepted an offer on my house mid June and put an offer on somewhere beginning of July. My buyers are first time buyers. My vendors are chain free (moving into rented). We were all working on a 'September' time frame, but that was a loose time frame.

The property I am moving into is empty. The garden is dying. It needs cleaning and sorting. My son can't start his new specialist school (for his additional needs) unless we have moved by the beginning of September (it's in a different borough), so will have to start his old one and then be moved midway, which is going to cause him a lot of emotional issue.

My buyers are using an online solicitors who don't have a phone number. Everything on my end is good to go. We have exchange documents ready, but buyers do not. Buyers also want four weeks notice to give their landlord, and won't give this notice until we exchange (there's no date looming for this).

On top of that, my fixed term mortgage rate of 1.24% ends at the end of August and the new variable rate is 5.4% so it means my mortgage shoots up by over £700. Some of this I will get back if I move out before the end of September. Buyers are saying the end of Sept is their time frame. I'd have liked by end of August. Compromise is mid Sept.

Buyers not having it.

AIBU to push them to compromise here? They are now saying if I push them to complete earlier than the end of the month, they want money knocked off the cost of the house. They won't consider speaking to their landlord about giving soft notice or any other options. If my new house wasn't ready and my variable rate so expensive, I'd pull out of the deal and put the house back on the market.

OP posts:
bingoitsadingo · 22/08/2022 14:23

I would offer to pay your buyers the equivalent of a months rent in lieu of them needing to line up their 4 weeks notice, unless they’re renting a mansion it’ll be peanuts compared to a higher mortgage rate. Why are they being so slow with their docs though?

Bunce1 · 22/08/2022 14:28

Push them.

averageavocado · 22/08/2022 14:29

You dont want a long gap between exchange and complete

I wouldnt offer them money, I would be saying the house will be back on the market if they cannot commit to date

Pinkbottletop · 22/08/2022 14:35

Thanks - didn't think I was being unreasonable, but no one else seems to be backing me up! Buyers solicitor hasn't even raised enquiries and are waiting for searches to come back first! Until there's a date for exchange, it seems we have no weight to force a quicker completion, though my vendors estate agent seems to have more of a backbone than my own and says he will lean in where necessary.

OP posts:
Lily073 · 22/08/2022 14:36

Put the house back on the market. The buyers don't want to compromise so you have no choice but to walk away.

Fuuuuuckit · 22/08/2022 14:39

They're not using APL conveyancers are they? Pull out now if so...

ArcticSkewer · 22/08/2022 14:40

Their solicitor and mortgage company probably won't even agree to a four week gap between exchange and completion - has your estate agent talked to them about this unrealistic deadline?

user1471548941 · 22/08/2022 14:41

Are your buyers getting a mortgage? The banks are being INCREDIBLY slow at the moment. We are in a similar position to your buyers, have applied for mortgage and it’s STILL not offered- our solicitors can’t do all the work required without the mortgage.

Everytime they request somethinf document wise we submit it within hours and it takes them 7-10 days to respond. Our broker tells us they will offer by the end of the week, then we go round the same 7-10 loop over something else because their backlog is so slow. Apparently the AVERAGE time for a mortgage offer at the moment is 76 days. We are pushing as hard as we can, but honestly, we have so little influence over the bank- all we can do is go along with the process!

Pinkbottletop · 22/08/2022 15:01

@user1471548941 they have their offer apparently

@Fuuuuuckit no I don't think it is

So frustrating but hoping my EA gets a back bone and presses this.

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