Bottom of chain threatening to pull out, should we try their bluff and rel-list?

[SophWolf]

We originally sold our house in April and the people buying it had sold their flat a month previously but had had an offer on somewhere else fall through. We had an offer accepted on a house that same week however they had not found anywhere so we carried on looking and eventually found somewhere else where our offer was accepted on 16th June these sellers have an offer accepted on a new build that is ready so no chain.

Two weeks ago our estate agent rang to say the people buying our buyers flat are now ready to complete and suggested 28th July. This is too soon for us obviously. We could potentially move in with my in-laws who are in the same town that we're relocating to but reluctant to do that until our purchase progresses further and we have a better idea of dates. We have an 18 month old and I'm currently 6 months pregnant so not an ideal situation at all. Estate agent seemed to agree and we heard no more about it until today.

Today estate agent rings and says people buying the flat are saying they want to move next week or they're pulling out. We obviously can't mobilise in a week even if we wanted to. He did say this happens a lot but I'm finding it very stressful as he also said he thinks that our buyers (who he previously said were 'desperate' for our house) will likely stay put if their sale fall through.

Question is, do we wait until next week and see what happens or ring estate agent back tomorrow and say we won't be moving until we complete (likely early September) and if they're not prepared to wait then we will put our house back on the market? Last time our house sold in under a week and similar houses near by have also sold very quickly.

Would be so grateful for any advice! Thank you

I'd put it back on the market.

Yh if they can’t wait tell them to let you know now and you’ll put it back on the market

Timings always cause issues.

These people are probably desperate to move.

Why was 28th July too soon? When they asked 2 weeks ago.

I wouldn't pull out. But offer another date that is suitable, that's not too far away.

@Whiskycav

Timings always cause issues.

These people are probably desperate to move.

Why was 28th July too soon? When they asked 2 weeks ago.

I wouldn't pull out. But offer another date that is suitable, that's not too far away.

It was too soon as we'd only had our offer accepted a few weeks earlier and we're still waiting on our homebuyers survey etc. We can't get my son in to his new nursery until 1st September at the earliest. We don't want go too soon and risk something going wrong with our purchase and being homeless when new baby arrives (we couldn't stay that long with in-laws) plus the expense of storage etc.

We had no indication that they weren't happy that we refused end of July until today.

I would say a weeks notice was unreasonable. But I don't think you can expect people to hang on indefinitely whilst your vendors find somewhere. I think you have to be prepared compromise or risk losing your buyers. There's a lot of good will required to hold a chain together. I'd start discussing other dates asap.

Saying you can sell your house next week again isn't true, you may be able to secure an offer quickly, but to get to completion usually takes about 12 weeks at least.

I have sorry. I am confused. If the people selling to you, are moving into a new build that is ready, I would have thought it would all be very quick.

They move into the new build, you've into theirs and so on. I do think asking them to wait until September is a bit too long.

What is the timescale for your sellers? I'm not sure why it's 'obvuous' you couldn't complete with three weeks notice.
Whatever you do, communicate with everyone your intentions. If you remsrketed you may get in to a longer chain and lose the house you want to buy.

@Livingintheclouds

What is the timescale for your sellers? I'm not sure why it's 'obvuous' you couldn't complete with three weeks notice. Whatever you do, communicate with everyone your intentions. If you remsrketed you may get in to a longer chain and lose the house you want to buy.

We're not sure yet, like I say they're moving to a new build that is ready but I'm worried they have slow solicitors because they only sent their contract paperwork yesterday.

We're moving to a completely new city and work full time so need childcare for our 18 month old in place (new nursery in new area can't take him until 1st sept earliest) it's also just not possible to sort / confirm with movers / find storage etc. By 28th (actually 5 days).

We haven't heard anything through solicitors, our buyers (not the ones applying the pressure) have had slow solicitors so haven't even responded to fixtures and fittings etc so would be surprised if they can actually sort themselves by next week.

Usually when you buy a new build, they have contracts that exchange in a certain time frame. Then completion it negotiable, but not weeks after.

Both my new builds were 28 days. Their solicitors really pushed the others to meet it and we did both times.

The house I am in now, was being sold by someone going into a new build. Theirs was 6 weeks.

I know it's very inconvenient but chains are tricky for everyone. We chose to rent in order to break the chain as we knew we would take time finding somewhere. I know it's not easy with a young child but we have a baby and toddler. I would have preferred to move before the baby was born as would be easier pregnant than with baby! Out of interest why are you worried about being homeless? Can't you rent? You are so lucky to have the inlaws option in the short term.

I totally get the nursery issues as we have the same problem. Could your inlaws not help? We decided to do a 2hour round trip from our rental place to keep their nursery spot (we were also relocating) until September. Or you can get a temporary childminder or nanny quite easily, which we would have done if we had lived more than an hour from our old nursery. Basically, there are options - yes they are inconvenient ones but it's entirely upto you how far you are willing to compromise to keep your buyer. Equally though, it's upto your buyer how long they are willing to wait with no fixed date.

@surreygirl1987

I know it's very inconvenient but chains are tricky for everyone. We chose to rent in order to break the chain as we knew we would take time finding somewhere. I know it's not easy with a young child but we have a baby and toddler. I would have preferred to move before the baby was born as would be easier pregnant than with baby! Out of interest why are you worried about being homeless? Can't you rent? You are so lucky to have the inlaws option in the short term.

I totally get the nursery issues as we have the same problem. Could your inlaws not help? We decided to do a 2hour round trip from our rental place to keep their nursery spot (we were also relocating) until September. Or you can get a temporary childminder or nanny quite easily, which we would have done if we had lived more than an hour from our old nursery. Basically, there are options - yes they are inconvenient ones but it's entirely upto you how far you are willing to compromise to keep your buyer. Equally though, it's upto your buyer how long they are willing to wait with no fixed date.

The rental market in the town we're moving to is mental, there's literally nothing coming up and anything that does goes very quickly and we have a dog and a toddler so are not strong contenders. My in-laws have a small house and already do the childcare for my sister in law who also has a toddler and a baby so can't take another one and we would need to work full time from their house too which isn't massively practical. Ok for the short term but not weeks and weeks.

Waiting to hear back from sellers estate agent today about what his expected timescales are for his move so we can hopefully agree a compromise. Our buyers would be better going in to rented as they are a couple with no dependants and they're the ones under pressure from their buyers so kind of waiting to see how much they want our house.

I agree that it’s your buyers problem for now. If I were you I wouldn’t be the one used as the chain breaker. I’d wait and see what happens next.

Compromising with an earlier date and your buyers moving into temporary rented accommodation, if anyone has to, appears the best option. Given that everyone has found a new property, it's certainly worth some flexibility (and cost sharing if need be) from all concerned to complete the deals, rather than everyone having to start over and wasting all the time, stress, fees, etc. incurred to date.

To add, I wouldn't "call their bluff" by putting your house back on the market, certainly not before exploring compromise options. People digging their heels in and adopting entrenched positions could just result in an unnecessary standoff and everyone losing out. Your buyers may already be doing this with their date ultimatum to you, so you need to be the pragmatic one who seeks a compromise.

Putting your house back on the market if they won't budge and you can't make their date work remains an option, but the last not first one.

I'm a bit confused. Why is this your problem rather than your buyer's? The EA should be harassing your buyer to break the chain and move into rental. Or have I missed something?

@iamdashi

I'm a bit confused. Why is this your problem rather than your buyer's? The EA should be harassing your buyer to break the chain and move into rental. Or have I missed something?

I really don't know why we're the ones under pressure. I suppose they're now waiting on us but we're in the least favourable position and feel it would be mad to break chain at this stage when our searches etc. aren't complete. Hopefully it's just the bottom of the chain trying their luck - don't really understand why they'd want to pull out now when things are moving and the end is in sight!

That's insane. Whose EA is harassing you - yours or your buyer's? Either way, I would speak urgently with your buyer to see if they are able to break the chain and move into rental. It is really their responsibility to take action and protect the chain. I'm astounded your EA (or their EA) thinks it's down to you to do that.

Having said the above, is your buyer ready to complete on their purchase of your property then? If so, I can see why they might be harassing you. But I still think it's worth chatting to the buyer to see if they can move into rental, and perhaps offer them something (reduction) for that.

Yeh, the dog makes renting trickier, I agree (children not so much). Although I wouldn't say, as some PPs have, that it's your buyer's 'responsibility' to go into rental. It's all negotiation. We went into rental for our buyers but really didn't want to lose the sale.

@iamdashi

That's insane. Whose EA is harassing you - yours or your buyer's? Either way, I would speak urgently with your buyer to see if they are able to break the chain and move into rental. It is really their responsibility to take action and protect the chain. I'm astounded your EA (or their EA) thinks it's down to you to do that.

Having said the above, is your buyer ready to complete on their purchase of your property then? If so, I can see why they might be harassing you. But I still think it's worth chatting to the buyer to see if they can move into rental, and perhaps offer them something (reduction) for that.

Our estate agent is hassling us! But he says he's heard nothing from our buyers it's the solicitor and estate agent of the people at the bottom of the chain who are applying the pressure.

The people buying ours have had really slow solicitors so are only just ready now even though they offered in April but the first house we found fell through so now we are behind - offer made 5 weeks ago but waiting on searches etc however there is no chain above us so it is moving.

Spoke to our estate agent again today and said we will offer 1st September so he's going to see how that goes down, also said we'd be prepared to contribute if our buyers can break chain and rent etc.

offer made 5 weeks ago but waiting on searches etc however there is no chain above us so it is moving.

Wow, 5 weeks? Maybe they are nervous someone in the chain isn’t serious?

5 weeks for searches and no survey done yet feels like a long time, although I appreciate some areas are very slow.

Our EA chivvyed our buyer into getting their solicitor to start searches/booking their survey/getting their mortgage offer within a few days of us accepting their offer; and didn’t mark us as SSTC until they started moving.

We have done the same, offered 10 days ago now; searches are due back by Wednesday and our survey is early next week as that’s the earliest we could get. Mortgage offer is already through.

September 1st might soothe them; though, if they want to be sure that you’re committed.

We broke the chain when in a very similar position to you; ie our buyer's buyer was threatening to jump.

I took the view that yes, our house would sell again quickly, but I didn't want to run the risk of ending up in an even bigger chain and with more time wasting down the line. I also didn't want the hassle of viewings, surveys, etc all over again.

Yes, storage for a full house isn't cheap, but it's a lot cheaper than a mortgage, especially if you can stay with family in the short term and therefore won't be paying rent.

You can't expect the beginning of the chain to hang on forever, so someone will have to make the jump first. You just have to decide if you're the ones prepared to do it.

Fwiw, I'm extremely glad we did. Extra bonus was that it also made moving days far less stressful as we were moving in and out of storage rather than from one house to another on the same day.

@TakeYourFinalPosition

offer made 5 weeks ago but waiting on searches etc however there is no chain above us so it is moving.

Wow, 5 weeks? Maybe they are nervous someone in the chain isn’t serious?

5 weeks for searches and no survey done yet feels like a long time, although I appreciate some areas are very slow.

Our EA chivvyed our buyer into getting their solicitor to start searches/booking their survey/getting their mortgage offer within a few days of us accepting their offer; and didn’t mark us as SSTC until they started moving.

We have done the same, offered 10 days ago now; searches are due back by Wednesday and our survey is early next week as that’s the earliest we could get. Mortgage offer is already through.

September 1st might soothe them; though, if they want to be sure that you’re committed.

Yes it is slow, our solicitor has had to chase theirs - apparently he's been on holiday!?They only got the contract paperwork through on Thursday so will start searches on Monday, our mortgage offer is approved and homebuyers survey is happening on 28th. Our solicitors think end of august / early September should still be possible but obviously can't make any guarantees.

I've bought or sold 3 properties this year (due to deaths before anyone suggests that I'm a property dealer!) and what all had in common were lying, duplicitous or thick estate agents. They're only interested in something that doesn't include your best interests.

@Svalberg

I've bought or sold 3 properties this year (due to deaths before anyone suggests that I'm a property dealer!) and what all had in common were lying, duplicitous or thick estate agents. They're only interested in something that doesn't include your best interests.

Doesn't surprise me! I've had to tell DH to take all the calls now because he's really wound me up in the past, very patronising and actually laughs at me. He also says one thing then completely contradicts himself later. Absolute nightmare!