Seller hid onward purchase?

[jks86]

Buying a property- been going on for about 5 months...
Sold mine to first time buyers. All on my end been ready for around 8 weeks. My buyers have been ever so patient.

It's my onward purchase holding things up. Sellers solicitor slow, only got back the last of the required information a couple of days ago.

When I viewed the property I was told the seller wasn't having an onward purchase and was chain free as they was going into rented and moving abroad.

Part way through I received a phone call from their agent saying they were going to buy a new build and we'd discuss dates for completion when they have more information from the builder...

I expressed dissatisfaction with this, that I felt a bit misled and one of the reasons I went with this property (others similar in the area even the same street!) was because I was led to believe chain free and seller keen to move.

I then received another phone call that same day telling me the seller won't go ahead and will stick to the original plan and go into rent.

Seller has now threatened to pull the whole thing today as I couldn't get back from work in time so sign contracts when I was only told they were ready yesterday PM.

To top it off the reasoning is because it is tied to their onward purchase and the developers are now going to pull their plot.

I feel really pissed off as it hasn't been me holding things up at all- I'm the one who has been misled and now I'm being threatened...

The agent said "you were informed on x date that they were buying a new build". I almost feel gaslight?

AIBU to be really really annoyed? I'm packed up my house and I've got kids and I don't know if it will happen now.

Newbuild purchasing is like this in fairness to your seller. It’s ridiculous.

It is which is exactly why I did not want to be tied to that, I could have not pursued the purchase at the time. But I was assured that they were not going ahead with it and would go into rented.

I'd go into rented myself and buy a different house. Their fault if they lose their new build not yours.
The thing is if they get you to sign to exchange how long till completion? what if it's about 2 or 3 months till the new build is ready. They are notorious for dragging on.

Yes I could do but have a handful of kids and lots of things, didn't want to have to move twice 🥲 but it may be the only option now as I don't want to lose my sale

The developer won’t pull the plot. It’s just a tactic to try and force the chain and the buyer into exchanging to secure the plot. I’ve worked on hundreds of plot sales and purchases and only had a handful that have actually fallen through (for actual big issues - not minor delays). Ignore the threats.

It sounds as though everyone is pretty much ready to exchange though? More important is whether the plot is ready for completion to happen on an agreed date (I.e. a week from exchange) or whether they want to agree a long stop date (which means completion can happen any day within a timeframe of a few months). If it’s the latter, I would be strongly pushing the sellers to move into rented as previously agreed when the offer was accepted. You have the upper hand here, don’t worry.

I'd tell him to either exchange as agreed or you will be pulling out to protect your own sale

Sorry just to add, you have the upper hand because if the sellers don’t agree to chain break and move into temporary accommodation, you won’t exchange and they will lose their plot (and the reservation fee)

New build purchasing is ridiculous. I dint know why it’s considered to be an easier option. I bought one and had to break the chain and move in with family for 6 months. I honestly don’t know how people tie it into a sale as well. Especially if you have to exchange within 6 weeks of reservation (including 10%).

Developers are horrible for trying to force things to completion in this way, thereby creating pressure down the chain.

This happened to us once. For this and other reasons we had to rent for a while. But the sales director for the developer didn’t know our names and called me out of the blue a few months later, trying to sell me some other house he had going. We had previously viewed one of their other properties, so our names were on his database.

I established exactly who he was, told him exactly who I was in relation to the previous chain and told him exactly what I thought of his horrible pressurising tactics! He did apologise to be fair, but I think was quite taken aback to be suddenly confronted by the human effects of ‘let’s put pressure on the buyers’, from someone whom he was trying to schmooze into viewing an ‘executive home’.

YANBU. I've been trying to move having bought in the summer. Top of chain causing issues, next one down, my purchase, now causing problems. I'll bail very shortly. Fuming. Some people are dicks.

Developers are bad aren’t they. They’re all lovely until you sign on the line, then it’s phone call after phone asking when you’ll be ready to exchange.

So when can you sign the contracts? Presumably if you do it tomorrow that will satisfy your sellers. They are threatening to pull out (very silly of them if they actually want their house sold) but haven't actually done so yet.

I know I have no recourse here but on the TA6 she's also ticked that the sale isn't dependent on a purchase completing same day.

I just feel so misled, I've been chasing her solicitors and estate agents since end of last week for these last bits a documentation from them then I have this put on me today like I've done something wrong

I have known friends and family who have bought new from Developers and there is a big push at this time of year for them to complete their sales before the end of the financial year, so they do put pressure on buyers saying they will lose their plots/new builds. As the building trade usually shut down before Christmas, this is why they put pressure on to complete just before. I agree with other posts, it's a tactic from developers to push the chain.

Solicitors shut over the weekend, I've arranged to sign first thing Monday.

I work shifts (NHS) and being told Thursday late (4:30pm) while at work and then being in a work all day today I was unable to get there at such short notice.

I asked my solicitor this morning that if I spoke to my manager to see if I could finish up a little early and get there, but my solicitor was not available until Monday anyway.