I had an older thread but can't find it so I'm brief :
3 months after offer was accepted, when we thought we were quite close to completion, our vendor announced purchase of a new build. Began to demand we exchange months before completion and said developer wouldn't commit to a completion date but would pull out if we didn't agree to exchange. There was a similar thread on here around the same time so I wasn't alone in having this happen!
Advice on here was very matter of fact, Vendor must go into rented as it's their issue. It sounded like that should be an easy thing to get agreed. My solicitor went back with that. However, the vendor refuses to go into rented at any point, or otherwise budge on cost one bit (we are paying rental costs in the meantime, and on exchange would pay buildings insurance while they would gain the deposit).
It appears they won't negotiate at all. The new build completion is 'within 6 months'. so could still be more than half a year away. However our mortgage offer runs out in 3 months.
My best guess is the vendor actually want us to pull out or don't care if we do, as a similar property in the area is now on the market for £50k more (though, not sold) . Their estate agent may even be telling them they can get them more?
WWYD?