Vendor putting price up 10%

[WhatsGoingOnEh]

I'm a FTB no chain, living with family so can move any time.

In December last year, found a place I loved, offered asking price, accepted. The vendor said her partner had sold his property and they just needed to find a place to buy. I was happy to wait. We did all the survey, paperwork, my mortgage was ready to go. We were ready to exchange since about April.

The vendor's partner had not sold his place, just accepted an offer. He only sold it 2 weeks ago. (End of May.)

They found a place in March and got jerked around by the seller, for months. I waited and waited good-naturedly. Then it all went quiet a couple of weeks ago. My mortgage offer was about to expire but I found out I could get a new one (despite new mortgage rules) and left a message saying that but didn't hear back.

Finally I went round with my bf to find out what was going on.

They now want £25k more! Their EA told them prices have gone up 10% in the past 6 months - the months we've been waiting to buy it, even offering to buy it and let them rent it back from us until they completed -- and it's now worth more. Their purchase fell through so they're back looking again. They wanted to give us "first refusal" on the chance to buy it for £25k more.

We said we'd let them know. What would you do?

[BristolRover]

last time I sold, our purchase was an utter nightmare so it was 7 months (in 2007) between agreeing price and completing on my sale. In reality, the (prime central London) property's value had certainly increased by a good £25k by exchange but the fact purchaser was so patient in waiting (& a neighbour of the place I was selling, who popped round and was friendly) just means I kick myself about it every now and then (fact he's since sold it for £250k more just makes me shallow breathe...) but at least i can look myself in the mirror. Karma's only a bitch if you are etc

[Petrasmumma]

I agree with WannaBe.
And I'd just like to suggest that if you accede to this blatant grab now, there is nothing to stop them doing it again on the morning of exchange. Having a buyer who is where you are in the process is very valuable; perhaps the agent needs to get them to appreciate that.