Who can help with this chain question

[unikorn]

So at the bottom of our chain is the buyers of our house (first time buyers currently renting), then us (no mortgage required once sale has gone through), then the vendors of our new house. Now they are a divorced couple so he's already left and found somewhere else, she's still looking.

Our buyers rental runs out end of August so they're keen to move in by then. We told the EA to pass this onto our vendors before we made our offer.

So when completion day arrives on our current house, where do we go? The vendors were aware of our time constraints from the start so is it us who's suppose to stop in a hotel or is it the lady vendor who will then have our money to go and buy her next place?

It's whoever is willing to go into rental/hotel to protect the chain. Your buyers could do it, you can or your vendor. If no one does then the chain collapses.

Right. Does the fact that we're the only ones not requiring a mortgage and with two young kids help in any way for us to avoid renting?

You don't exchange until everyone has agreed the completion date.

Your buyers need to extend their rental or find somewhere else to go if your vendor hasn't agreed to move out and go with their timescale.

Or you can agree to sell to them and move out whilst your vendor finds somewhere.

No not really. You are in a good buying position but only if your vendors don't want to lose you. Divorced lady probably won't put herself out and move out I wouldn't have thought.

Either the lady of the house you are buying agrees to move out (maybe rent or move in with family) but if she doesnt then either you find a place to go or you wait until she is ready. She has no obligation to go until she is ready to do so even if the rest of the chain is ready to complete.

We had similar with the house we are currently in, after 4 months of waiting the lady the top of the chain moved in with family until she found somewhere and the rest of us could move.

Has she not given you an indication of what her intentions are?

The other thing is ( I am currently waiting to move house too) I am the divorced lady in the scenario and I am having to port my mortgage to my new house so I would not move out until ready otherwise I would face £1000+ in penalties to my mortgage lender. I would have thought you would have been made aware of what she was intending to do by now?

I rang the EA last night, spoke to Mr Boss Man who said his colleague who is handling our sale hasn't told him about said time constraints. Great. Been told hell phone back on Monday.

We know she is looking to buy with her share of the sale. She's been outbid on one property and is now looking at other areas. But even if she had an offer accepted accepted tomorrow she won't be ready in 6 weeks.

It is a case of your buyers' fixed term expiring soon? If so they can stay on on a periodic tenancy basis without signing up to another fixed term. If they have given notice because they thought they were allowing enough time then they are imposing an unnecessary deadline and frankly should find somewhere else until everyone else in the chain is ready. Renters should only give notice on exchange or move elsewhere to family or friends if they don't want to that or risk an overlap of rent and mortgage.