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Original poster

Difficult sellers- WWYD?

21 replies

ZazuMoon · 21/08/2020 04:24

We are almost at the point of exchange on a property. This is after two other house chains fell through just prior to lockdown and during lockdown. The sellers are separating and seem to be in disagreement about the sale and their onward move.We were at stalemate regarding a sale price so the agent suggested that we meet half way providing the sellers moved into rented accommodation. They agreed to this. Over 2 months later one of the sellers now wants to buy a property but wants to keep the same price. This is apparently justified due to the chain taking too long. Our FTB has in contrast been very patient.
We haven’t seen anything else that works for us as well but we don’t know whether to pull out or not. We are concerned about the delay and have lost trust in the sellers to stick to their word. WWYD?

OP posts:

tentative3 · 21/08/2020 05:47

Can you move into rented to keep your buyer? Or will it be easy to get another one if this one pulls out due to delay? To be honest I wouldn't be keen to indulge the vendor, have they even found somewhere? Even if they have you could be looking at months until exchange, and if they haven't, well how long is a piece of string?

DPSLB · 21/08/2020 05:55

Have you thought about going into temporary accomodation yourself? It might be worth it to protect your sale and be in a better position to make an offer on another property should one come avaialable. We did this because our purchase was dragging on and on due to an issue that had to be resolved by the Land Registry.
I'm not sure though what you mean by stalemate over the price. To me, absolute clarity on price at the outset is fundamental so that the transaction can proceed smoothly. Any uncertainty would worry me.
Why is the transaction dragging on so long? Is it? Or is that the buyer's perception of that. Can both Solicitors not help here?
Your sellers wouId be making me nervous. I wouldn't trust any buyers or sellers now after my experiences of buying and selling. Sellers that aren't in a chain, accept your offer then create a long and complicated chain ......., cash buyers that you accept an offer from on based on such who then suddenly decide they are going to take out a mortgage after all ........

Original poster

ZazuMoon · 21/08/2020 07:12

@tentative3 our house sold on the first day both times (first buyer pulled out due to Covid), so it wouldn’t be a difficult sale.

@DPSLB I meant that they would not accept our third and final offer as they had a set price in mind. We agreed to offer more on the basis that they went chain free which they agreed on.
Delays have been caused by their solicitor refusing to give our solicitor information on the chancel repair liability or whether the access road had been adopted. Our buyers’ solicitor was also away for two weeks with no cover. Plus Covid survey and mortgage delays. One of the sellers had the expectation of a 6 week process (it’s been 8 weeks and we were hoping to exchange in the next week or so).

OP posts:

Porridgeoat · 21/08/2020 08:29

Remind them that the agreement was they move into rented to receive x price. Say you will need to rethink this price to cover the cost of delaying the move (temporary accommodation, using movers twice). Then suggest a figure of 6 months lease plus moving cost. While speaking to the estate agents ask them to send you details of a property you’ve seen on line. Tell them you need to think of back up options as you weren’t expecting to be messed around.

tentative3 · 21/08/2020 11:04

It's tricky if you really like the house but I'd be wary. I imagine one of the couple is pulling their hair out over this and I feel for them but I wouldn't want to get drawn into this if they're going to keep messing around and changing the goalposts. What kind of figures are we talking about between the offer they accepted and when you were at stalemate?

The big issue for me would be if they mess around on this what else will they mess around on, and I'd be minded to communicate that to the agent.

Original poster

ZazuMoon · 21/08/2020 12:35

@tentative3 those are my thoughts as their word means nothing now. It does seem that the woman has been given the lion’s share of the equity in the property but is also the one changing her mind all the time.
We’re not in love with the house but it is the only example in our price bracket that meets our requirements. We are finding that we are being priced out of similar properties at the moment.

OP posts:

tentative3 · 21/08/2020 12:52

Mmm, difficult. I empathise with not finding much in your price bracket that meets your requirements, we have the same issue. The market is hot here for what we want and we're on the verge of being priced out but I do think 6 months from now that might be very different. If you can go into rented (and I know it's in a pain in the ass and not an easy decision) you might find something else comes along anyway.

notheragain4 · 21/08/2020 13:01

If you are genuinely considering pulling out anyway, I think you may as well tell them that if they don't go into rented as agreed and progress ASAP or they don't revert to the offer you made prior to that agreement, that you will withdraw.

Original poster

ZazuMoon · 21/08/2020 19:34

We’ve heard from the estate agent and the sellers won’t move into rented accommodation and won’t consider the original lower offer and would just put the house back on the market instead. They are also demanding an answer ASAP. I just really feel as though we’ve been browbeaten into the worst possible deal- more than we wanted to pay for a house that neither of us is in love with, at a timescale that doesn’t suit us. But neither of us want to stay where we are and other houses we have viewed seem to have something missing or wrong with them or are so overpriced for what they are.

OP posts:

User43210 · 22/08/2020 05:30

Sorry but if you're not in love with it now, I don't think this is the right house. You may have to pull out of your sale or move into rented if you can afford to.
Sounds awful but don't give them any more time!

Charleyhorses · 22/08/2020 05:49

Tell them to jog on. It's may never happen.
I started to buy a house from a divorcing couple. Found out it had been on the market 2 times before. I had a complete chain, a fixed timetable to move. House was empty. I gave up. It took another 18 months to complete! We had been in our new house for 15 months.

Porridgeoat · 22/08/2020 06:38

Look sell yours and go into rented for 6 months. The housing market is quite good temporarily but likely to be crap quite soon once the true fall out from Covid hits and people need to sell

Porridgeoat · 22/08/2020 06:41

Also you’re paying above the market value for the house but it’s likely to drop in value due to Covid fallout, then you’ll make a big loss if you need to sell on

tentative3 · 22/08/2020 06:42

I'd walk away for sure and go into rented. It's not worth it if you don't love the house.

latticechaos · 22/08/2020 06:46

I just really feel as though we’ve been browbeaten into the worst possible deal- more than we wanted to pay for a house that neither of us is in love with, at a timescale that doesn’t suit us. But neither of us want to stay where we are and other houses we have viewed seem to have something missing or wrong with them or are so overpriced for what they are.

You don't love the house and the vendor is messing you around. Move on in my opinion.

I would not buy a house unless it felt right. You're saying it doesn't feel right.

I would also suggest selling yours now and looking from rented.

ZigZagPlant · 22/08/2020 06:48

We are concerned about the delay

This is the main issue. Realistically will it be quicker to stick it out and wait for the vendor or find another property?

Cheesypea · 22/08/2020 07:07

Give them a deadline. Ie we need to complete in 2 weeks at x price. They dont sound serious tbh.

ulanbatorismynextstop · 22/08/2020 07:35

If I was you I'd pull out and rent. The market is about to crash and you might pick up a bargain in a few months.

Kipperandarthur · 22/08/2020 08:30

Don’t buy a house that both of you don’t love. You will only regret it in the long term. This is fate’s way of enabling you to walk away from this house as it’s not right for you. Sell yours, go into rental and go from there. These people are messing you around. It’s hard and you’re disappointed from what’s previously happened but you know by next Spring there will be more houses on the market and you will have more choice etc. It will all come good in the end.

Original poster

ZazuMoon · 22/08/2020 19:53

Thanks everyone. We did think this would be ‘it’ for the house move. We are tempted to just wait and see what happens with the market. Certainly if the sellers keep pushing for an answer I suspect we will pull out. The EA called again today after I requested a few days to think about it yesterday.

OP posts:

Kipperandarthur · 22/08/2020 22:57

In the end your head will tell you what to do. It’s so hard when all emotions are involved. House before last, house I wanted fell through, then the next buyers pulled out 12 noon on day of exchange, another house lost. Loads of wasted fees on two houses but the third and final went through even though my own Next buyer was messing around a bit. I truly was losing the will with it all. But when I look back I got the best house out of the two I lost. It’s a crazy market at the moment due to the reduced stamp duty. It will calm again in due course. Sometimes things happen for a reason even if you can’t see it now. But going forward you no doubt will as you’ll find a house that suits you better that you like more at the same price.

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