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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To change our minds about breaking the chain?

33 replies

BaggaChip · 31/08/2022 13:28

Our chain:
FTBs > our buyer > us > our seller > final house in chain

We accepted an offer in May. We were asked if we would move out to complete the chain, once conveyancing was complete, and we agreed we would.

Two months ago, we started looking at rental options and realised we couldn’t afford either short term AirBnB type properties, or a 12 month contract that would mean we’d pay both rent and mortgage for a long period. We simply couldn’t find a middle option.

We told our estate agent we would no longer be prepared to move out and it was up to our buyer if they wanted to continue. We didn’t hear anything more so we assumed the sale was proceeding.

Now we are 6-8 weeks off our own purchase completing, the people at the bottom of the chain are putting pressure on our buyer and again we are being asked to move out. They keep reminding us that we originally said we would move out.

Are we being unreasonable for going back on our word, or are they being unreasonable for not walking away 2 months ago when we told them we had changed our minds about breaking the chain?

OP posts:
MarinoRoyale · 31/08/2022 13:30

Nope, you told them your position 2 months ago and nothing has changed so not unreasonable to stick to that.

Mamma80 · 31/08/2022 13:33

Im going through similar at the moment, its stressful and im sorry. But.... you owe no one anything until exchange, you do whats best for you and yours, let them worry about the fall out and sorting themselves out. Youve looked at the options and its not viable, you've given warning, thats more than most. Dont give yourself pressure that many many others wouldn't. YANBU, Good luck Xx

EL8888 · 31/08/2022 13:34

Why did you agree to it without properly researching if it was possible? That is unreasonable in my book

Original poster
BaggaChip · 31/08/2022 13:36

EL8888 · 31/08/2022 13:34

Why did you agree to it without properly researching if it was possible? That is unreasonable in my book

I think this is the lesson we’ve learnt. We have both rented in the past but I don’t think we appreciated that the rental market has changed (high demand) and that shorter term lets are hard to come by.

OP posts:
Suedomin · 31/08/2022 13:36

You are being perfectly reasonable.
Most buyers have to wait until the sellers have a house to move to. You told them this is now going to be the case, they could have pulled out then but they sidnt. If they are not happy they can pull out and start to look for somewhere else but that would take them longer so they will just have to be patient.

smooththecat · 31/08/2022 13:37

It doesn’t take a genius to work out that there is nothing available to rent at a reasonable price right now (very sadly for people stuck in our awful rental market right now). Unless you are super rich and they know this yanbu.

SweepItUnderTheCarpet · 31/08/2022 13:37

Did you tell the EA that you were no longer able to move into a rental in writing? Unfortunately there are still some EAs who are not truthful and will happily throw you under the bus.

Original poster
BaggaChip · 31/08/2022 13:39

SweepItUnderTheCarpet · 31/08/2022 13:37

Did you tell the EA that you were no longer able to move into a rental in writing? Unfortunately there are still some EAs who are not truthful and will happily throw you under the bus.

No we told them verbally. I have wondered if perhaps they didn’t give the buyer the full story. We were very clear with estate agent, stating that we didn’t want to mess anyone around and options were either wait for us or walk away.

OP posts:
SpiderinaWingMirror · 31/08/2022 13:44

I doubt that the EA passed that message on.
Stand firm. Fwiw, if someone in a chain said that they would move into rented, I'd have taken it with a pinch of salt anyway.

Craftybodger · 31/08/2022 13:48

Reiterate that you can’t afford it and if they force the issue you will remarket your property or the alternative is for them to fund your time in rental.

smooththecat · 31/08/2022 16:28

Estate agents are a bunch of boneheads in my opinion, though not all estate agents etc. Don’t trust anything an estate agent says, and do everything over email, The whole thing is an unregulated mess in this country.

Spanielsarepainless · 31/08/2022 16:51

Our, otherwise excellent, estate agents suggested we might like to move out into rented. I declined.

Original poster
BaggaChip · 31/08/2022 17:08

Spanielsarepainless · 31/08/2022 16:51

Our, otherwise excellent, estate agents suggested we might like to move out into rented. I declined.

Did it all work out in the end?
I wish people would just be patient. It’s only been four months!!

OP posts:
2bazookas · 31/08/2022 17:21

You made a really stupid promise. Your solicitor should have warned you agianst it.

One compromise would be to let the buyers complete the purchase, if they will permit you to stay in the house paying rent as their tenants, until your next home is ready.

Original poster
BaggaChip · 31/08/2022 17:32

2bazookas · 31/08/2022 17:21

You made a really stupid promise. Your solicitor should have warned you agianst it.

One compromise would be to let the buyers complete the purchase, if they will permit you to stay in the house paying rent as their tenants, until your next home is ready.

I appreciate the suggestion but I don’t think it would help. Our buyer wants to get in our property so his buyers can get in his!
I could suggest he move out to a rental.

Yes perhaps it was a “stupid promise”. Our solicitors weren’t involved in these talks at all, only the estate agents.

OP posts:
LionessesRules · 31/08/2022 17:38

I think you were a bit awkward 2 months ago, but it is now your buyer who is being a pain.
Any way to speed up the 6-8 weeks of the onward chain?
Why the pressure to complete? Are mortgage deals expiring?

Original poster
BaggaChip · 31/08/2022 17:54

LionessesRules · 31/08/2022 17:38

I think you were a bit awkward 2 months ago, but it is now your buyer who is being a pain.
Any way to speed up the 6-8 weeks of the onward chain?
Why the pressure to complete? Are mortgage deals expiring?

I’m not sure why there is pressure. I haven’t heard any reasons besides the FTBs expecting they would be in by now.

OP posts:
gyurghle · 31/08/2022 18:07

they may be anxious about mortgage expiring. I certainly would be

Original poster
BaggaChip · 31/08/2022 18:17

gyurghle · 31/08/2022 18:07

they may be anxious about mortgage expiring. I certainly would be

Yes I guess the FTB could be worried about this but it hasn’t been mentioned. We should complete before six months.

Our buyer doesn’t need a mortgage so this won’t be a problem for him.

OP posts:
gyurghle · 31/08/2022 18:23

But does he need to sell his house?

Original poster
BaggaChip · 31/08/2022 18:26

gyurghle · 31/08/2022 18:23

But does he need to sell his house?

Yes he does

OP posts:
MindPalace · 31/08/2022 18:34

If they do need to lock in a particular mortgage rate (understandable in the current climate) now, they need to pay/reimburse you any rent you pay (f you are ok with moving out) in the interim.

Idontgiveagriffindamn · 31/08/2022 18:36

Don’t break the chain. There is no reason why your buyers can’t break the chain and rent somewhere if it’s their buyers that are putting on the pressure.

WimbyAce · 31/08/2022 18:48

This happened to us, we believed we were moving into a chain free property and were ready to exchange when our sellers announced they were no longer moving out into rental and buying instead. Was incredibly frustrating but we waited while the chain completed. In the end it has all fallen through anyway as they changed their mind about buying the property. Our mortgage offer was also on the verge of expiring so was all very stressful.

Original poster
BaggaChip · 31/08/2022 18:57

WimbyAce · 31/08/2022 18:48

This happened to us, we believed we were moving into a chain free property and were ready to exchange when our sellers announced they were no longer moving out into rental and buying instead. Was incredibly frustrating but we waited while the chain completed. In the end it has all fallen through anyway as they changed their mind about buying the property. Our mortgage offer was also on the verge of expiring so was all very stressful.

I sympathise. House buying is hugely stressful for everyone. I don’t like messing people around; I feel bad we can’t make good on what we agreed to.

I hope I made up for it by being transparent as soon as we knew we couldn’t rent. I honestly thought our buyer would walk away and find somewhere chain free two months ago, but he didn’t.I really hope the estate agents didn’t cover it up.

OP posts:
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