Very long story but this is the situation:
Private sale -we found them and did all the leg work.
House needs considerable work - think everything (roof, plumbing, electrics the lot). Extremely poor decorative state.
It has a lot of space and is in a road we were keen to live in so we offered what they asked. They said this was a non negotiable price. At this point we thought we were paying about 30k over the market rate but it's a long term investment for us and forever home.
After we offered we realised that there was no central heating in the property in bedrooms (this was not obvious on viewing as there is so much stuff) - even at this point we didn't ask for a reduction.
The chain has stalled - in order to keep our buyers we exchanged in current market we will be going into rental ( for building works this was going to be necessary).
Our sellers still refuse to put pressure on their sellers. We have no idea when exchange or completion will happen and how long we be in rental. Our builder has been very understanding but he has no idea when he will be starting - meaning longer in rental for us.
We are really fed up.
Since then other properties have really dropped in price - seeing 5-10% reductions - let alone for people with no chain. I'm feeling like we are being mugged.
Given this information, would it be reasonable to ask for a price reduction if we get to exchange?