Stalling seller - WWYD?

[Mumof2bears]

We're planning to buy a house in an adjacent village to let out, and all our queries and searches were finalised in early January so we've offered the seller ('the Smiths') exchange and completion dates on several occasions. The only response their solicitor has given is that they still have outstanding queries regarding the house they are buying. That is the top of the chain. Their queries have presumably been outstanding from December or earlier, and we're conscious that the stamp duty holiday ends in 7 weeks. The Smiths know that we're buying the house to let out, and are therefore aware of this deadline.
Would it be reasonable for us to ask them (politely, through their solicitor) if they would consider moving into a rental if we cannot complete the purchase by Friday 26 February? Or what else could we say to get things moving? Our solicitor has been pretty good at keeping us in the loop but theirs hasn't been very good at sending paperwork through etc.

In the exact same position. Very frustrating.
Have written to our solicitor today to say that we need dates set for both exchange and completion this week or we’ll pull out. We’re ready to go, tidy deposit in the bank, mortgage all organised. Haven’t time to be messed about. Yes, it would cost us the survey fee plus the solicitor, but I don’t do time wasting and messing about. They either want to sell or don’t.

That's a good idea. If everyone up the chain does that the net effect will be zero (except for the top of the chain, who are being difficult anyway)

I'm not arguing that it's a good idea, but everyone in the chain doing that isn't necessarily simple and doesn't necessarily mean the net effect is zero. Say there's 4 houses in the chain - A, B, C and D - priced at 200k, 300k, 400k and 500k.

The buyer of House A now needs to find stamp duty of 1.5K. So they drop their offer by 1.5K.

The buyer of House B is losing 1.5k on their sale and needs to find stamp duty of £5K. To have a net effect of zero, they would need to drop their offer not but £5K, but £6.5K. Would their vendor agree to this? Probably not - the money their buyer is losing on their own sale is nothing to do with them...!

Then the buyer of House C would lose either £5K or £6.5k - depending on what's been agreed previously, and also needs to find £10K. So how much are they dropping their offer by? £10K? Or £15K? Or £16.5K?

This can get messy very quickly, and "passing it along the chain" could still mean everyone involved having to take a hit - just not a direct one.

Agreed @powerslidepanda definitely not that simple.
It's really hard isn't it. I think the whole process is difficult and relies on everyone working towards the same goal - of exchanging and completing as quickly as possible. Of course, you can't guarantee that, and then you're left frustrated and misled - and trying to think of sensible but very complicated solutions.

@Mumof2bears I’ve no idea why it’s not popular. I don’t understand how anyone managed to sell with long and complicated chains in normal times, let alone with a stamp duty deadline looming.

If I were your sellers and if I had the choice of moving and renting or staying and renting, I’d pick the latter to save on moving costs, but perhaps generally people are more comfortable with a clean break.

We’ve done similar (not in the U.K.) where it’s common practice for people to move, pay occupational rent in their new home to the sellers until the paperwork catches up. (Sales can’t “fall through” because buyers/sellers just change their mind without massive penalties...)

@WinstonmissesXmas out of interest, when did your offer get accepted? Our offer was accepted at the end of September.

@beetle76 I think you may be right. As we can't be sure whether the delays can be attributed to the Smiths/ their solicitor/the people they're buying from, I think we'd rather be dealing with a new couple/family when it comes to tenants.

@Mumof2bears - December but they’d had a sale fall through (we were told) and wanted to move quickly. From our side, everything is done. Survey, searches, great solicitor. We could exchange and complete tomorrow, have a couple of months’ overlap where we’re renting to redecorate and go from there. It’s annoying being lied to and not having certainty. That alone makes me want to pull out! I have no patience and I’m boring and straight down the line!