Looking for advice and what you would do, will try and not go too much into detail.
We are in the process of buying a house that belonged to an elderly man who has passed away in February this year. The property has been vacant for almost 5 years. The sellers, who is the son of the man who died, put the house up for sale in October and we had our offer accepted in early November. We bent over backwards to get into the best position we could as he advised he needed to complete no later than the end of December as he was using the proceeds from the sale for an onward purchase. We effectively made ourselves cash buyers and decided to take the property on despite the level of works needed (property will not be able to be lived in for approximately 8 months)
We were contacted by our solicitor on Tuesday advising we were in a position to exchange contracts but he was yet to hear back from the seller‘s solicitors. We had a call from the agent this morning advising they were happy to exchange this week or next week but would not be able to complete until January, as the property (which is jampacked full of his fathers possessions including over 3000 books) will take some time to clear and they have not yet started this process despite having had since February to do so
Our solicitor has since contacted us this evening to advise that this purchase needs to tie up with the onward purchase because the son is planning on moving all of his fathers possessions into the new house that he is purchasing, which is not due to complete until the end of January. This seems a strange reason to me, to be tying up a purchase rather than putting belongings into storage.
We had budgeted on the fact that we would have to be out our flat in June and that the property would be ready (i.e. we could live in the loft) in August which is now completely off the table given the update today.
What would you do in this situation, would you call his bluff and say you are pulling out knowing that they can’t continue their onward purchase without these proceeds? Or bite your tongue and be at the hands of the process