Advice please: 1 day till exchange, vendor has changed completion date by 4 weeks!!

[MeMeMeow85]

We’re supposed to exchange tomorrow. The vendor has just announced that they need to push the completion date back by 4 weeks!!!

Their plan of “we’re going into rented” has turned out to be totally untrue, as they found a house they want to buy last week and only just started their mortgage application.

I’m so so annoyed!! We’re chain-free and living in a rental that expires in 3 weeks.

I really want to pull out altogether. We originally wanted to complete in 6-8 weeks... based on the new completion date it would be 15 weeks since our offer was accepted!!! There has been zero advantage to us being chain-free.

Someone please talk me down before I tell the vendor where to go!!!

Their new plan is now going to cost us over £2.5k in additional rent that we wouldn’t be paying if we completed when we originally planned. Arrrggghhhhh. This isn’t supposed to be stressful

I would tell them you exchange on the agreed date or else you are pulling out. If they found somewhere last week, I would be amazed if they think they will be in on the new completion date. That means you are likely to be waiting another two or more months. At least

That isn't an option. Once contracts have been exchanged, no-one can change the completion date without consent, and if they try to there will be hefty penalties attached.

I wouldn’t drag it out over the weekend, give them an ultimatum and then pull out.

Sounds like you are having doubts about the house so maybe a blessing in disguise that they have given you a window to reconsider. Also agree with pp that their new timeline looks optimistic. I would be inclined to take the weekend to think and then pull out. They may still come back to you and you would be in a much stronger position and in the meantime you have the freedom to look at other options rather than being tied to them.

I’m going to stall now though and go no contact with them today whilst we decide what we want to do.

Vendor and purchaser may go NC but their solicitors can't! Have you sent written (e-mail) instruction to your solicitor NOT to exchange today.

Thanks @senua. I told her yesterday afternoon and just emailed to confirm

Well done. Stay firm!

The vendor won’t contribute to the additional cost. After 5 days of stalemate, I’ve told our solicitor to exchange tomorrow and agree to their delayed completion.

So upset. The two-faced vendor has made the whole process very sour in addition to costing us a lot of additional money. But at least we’ll be in our lovely new house on a fixed date and he’s unlikely to be able to complete his own purchase by then anyway.

The EA made a good point that “familiarity breeds contempt”, which I agree with now. We were on friendly terms with the vendor after they invited us over for coffee and to chat about the house etc (so they know we love it) and I think that’s why they are being such assholes now, as they know we’re unlikely to back out.