help opinions needed before I self combust with stress!!!!

[Polgara2]

Yet more problems with my never ending house move saga!!! Our buyers have issued letter stating they will withdraw if we don't exchange and complete by Friday. Our vendor is just about there and will be able to complete next week BUT his vendors cannot complete on Friday so it would have to be week after or week after that. Question is will we be able to persuade my buyers to wait or will they stick to their guns do you think? We have all been waiting A VERY LONG TIME.

Surely they stand to lose a lot of money over just a few weeks? Are you on okish terms with them??? What does oyur agent say?

They could well be bluffing, I have done this before to get a sale completed where the guy at the bottom of the chain was being a total nightmare. It caused lots of estate agent and solicitor flapping and all of a sudden things finally got moving. Could you not go for a compromise, could you buyer's buyer get exchanged next Friday, then agree a completion date of a week or so after that ? I've just put my house on the market and had my first viewing today, all the stress I am in for is coming back to me, I remember it all now !

Not spoken to our buyers that much, generally communicated through solicitors. Thing is they have been forced to move out already by their buyers so they are well fed up. As you say, they stand to lose a lot if they give up now but would they be bloody minded out of sheer frustration? I wouldn't be I'm generally a patient(ish) person.

Sorry, I got that the wrong way round before and read it as your buyers. If they are already moved out and have to start again it is going to take much longer than the time it will take to get yours wrapped up. They could completely pull out due to bloody mindiness but they would lose a lot of money in legal fees, survey etc. What does your solicitor say about this and what is the problem with your the one at the top of the chain ? I would try to get your solicitor to come up with a firm exchange date, for the rest of the chain. I think once they've got that and know it really will happen they are likely to be OK about it. I think their letter is out of complete fustration to get things moving. On another sale we had someone threaten to pull out and our mortgage broker told us to keep calm and that this happens all the time and that in his experience once the smell of the money on the table is there, they come back immediately. So sorry you've got the stress of all this, I bet this is me in a few months time.

I persuaded my sister to get a bridging loan at Christmas and sell without buying. Scarey time for her and risky but it all worked out fine in the end and it stopped the chain collapsing.