Would you pay this expense?

[Missy44]

DH and I are buying our first house. We got guzumped on the day of exchange in January and were lucky enough to find another house we love.

Before we put the offer in, we checked with the sellers that they would be able to vacate as soon as possible as we need to move in quickly. They agreed that they would move into their parents houses to allow us to move in, if things got tight around the deadline. We put the offer forward and everything seemed to go pretty well we arranged a move in date of 1st June.

However, when sitting in the solicitors office looking to exchange on this property, we got told that the person at the top of the chain can't complete until the end of July. Our mortgage company has said that isn't a possibility and we have to move by the 11th June or we will lose the mortgage (and the hundreds of pounds we've already spent on arranging it)

We have had to say to the sellers that they will have to move, we've paid them £2000 risk money (that will be refunded if their house sale goes ahead as planned at the end of July- they had said they would be charged a redemption fee so they wouldn't be able to move). Now they are asking us to pay their removal costs of £560 because they have to move twice, once into their parents house, and then into their new house.

Our solicitor is saying that time is very tight and we shouldn't be fighting over relatively small things at this stage, but I can't help but feel it's cheeky of them to ask for this money when we've already gone passed the orginal date of completition and they are only doing what they first agreed to do.

What would you do????

They could ask the people they are buying from as they are the problem in the chain. You are 1st time buyers so no chain behind you - if you walk away whole thing collapses for the others. Depends on how much you want this house and how much other interest you think has been shown in it. In the scheme of things it's not huge money compared to the hassle of sorting new mortgage?

If you are really fed up you could offer to spplit the difference as a goodwill gesture but say you are surprised that they didnt mention this when the original moving date was agreed. If they say no, they have you over a barrel as they know it will cost you for another mortgage - but then it will cost them too if the chain collapses so they should go for the split. What a stress. Cheeky gits! Hope it works out for you.

Wouldn't. I just couldn't...even if it was just hundred bucks. Greedy sods.

Flatbread DH just read this and thought that you and I are kindred spirits. Thankfully, since I posted, the estate agent has offered to reduce their fee's just to try and make sure the sale goes ahead. Fingers crossed it all works.

Missy . Goodie, glad the estate agent has come up with a solution, hope they manage to bill it to the vendors in some guise. Fingers crossed it all works out for you!

we've paid them £2000 risk money

I reckon they've got you down as mugs. The more you give in the more they will take.

Sorry.

I feel your pain - we were due to exchange yesterday when our buyers announced they wanted gas and electricians certificates so they can be sure of what work is needed on the house and an indemnity for the removal of an internal non load bearing wall 8 years ago!

As we haven't had any work done on the house since the kitchen 8 years ago, the electrician told us he wouldn't waste our money and his time to provide a fail certificate.

I'm annoyed as we are not legally obliged to provide any of this and we were all set for exchange weeks ago - we were just waiting as the people at top of chain cant move till early july. After I spent all day yesterday on the phone arguing with everyone and refusing to back down, the estate agent is now covering the costs of all this as they can see the whole chain (and their commission - they have all 4 properties in the chain) in danger, but on principle it just feels wrong to give in to these ridiculous demands at this stage. I don't care that I'm not paying but it still feels like we are giving in to these annoying people who just seem to demand and demand and get what they want.

Sorry rant over...glad it got sorted out for you, good luck with the rest of the move, it's a horrible stressful process int it?

What is risk money?

AdverturesWithVoles Basically, the sellers have a mortgage that states that they will have to sell their house and buy their next house on the same day. If they don't do that they will have to pay an early redemption fee of £4k. This has meant that they wouldn't consider moving until their next house was ready (and this date has been delayed by two months). However, there is a clause that says that if they sell, then buy their next house within three months, they will be charged, and refunded.

We are offering to pay half of this early redemption fee to get them moving, and we'll have the solicitor write it into the contract that we will also be refunded this money if they move into their next house within three months (which is 90% guaranteed)

It's risky for us, because it isn't 100% guaranteed that we'll see that money again, but these sellers seem to think the world owes them something, so we had to offer them this, or we'd lose the house.

Jcee I completely agree with you, it's so stressful. I can't imagine how much stress it must be if you have to buy and sell at the same time! I'm glad that the estate agent has stepped in and offered to reduce the sellers fee's, but part of me wants them to be charged more for their cheek!