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Original poster

How can I speed up vendor?

35 replies

Livedandlearned · 04/12/2021 20:51

Ftb here, offer accepted mid September, all searches and enquiries back. Just waiting for our vendor to decide if they will renegotiate the agreed purchase price as the survey highlighted a crack in the chimney that needs to be repaired or the chimney replaced.

This decision has taken them 4 weeks and counting so far.

I was really hoping to be moved in before Christmas but I just can't see it happening, is there anything I can do?

I've told the estate agent that I want to be moved soon, and she says the vendor wants to progress as well. Doesn't seem that way to me!

OP posts:
OpeningY · 05/12/2021 08:31

It looks like they are staying silent, maybe hoping you'll overlook the survey issue and agree to proceed at the original price, they probably know you're keen. Maybe give an ultimatum and pull out if they don't respond.

Didiusfalco · 05/12/2021 08:34

You could give some kind of deadline. Something along the lines of ‘if the vendor does not agree that they will reduce the price to take account for the chimney by X date, we are withdrawing our offer’. You’re not going to get in before Christmas though.

Fleurty · 05/12/2021 09:03

What is their situation, is there a chain above them? They may see no need to hurry as they know there are delays further up the chain. Or they may not be able to afford their onward purchase if they drop their price for you so are negotiating with the chain.

Also remember that vendors are often reluctant to pay the full price of work they will see no benefit from - you'll be in the house when the chimney is repaired. Have you asked them for full cost of the work off or a percentage of it? And have you had quotes or have you asked for the amount off based on the cost of worst case scenario of replacing the chimney, which very rarely needs to happen.

HidingFromDD · 05/12/2021 09:11

have you decided what you'll do if they say no? Tbh after 4 weeks I wouldn't expect any renegotiation so you need to decide whether you walk away or go with it as is. Did the survey value it at what you offered?

Original poster
Livedandlearned · 05/12/2021 09:11

Thanks for the replies. There is no chain, they are selling their mum's house after she died.

I sent them a quote for the work, and just asked them to consider a reduction of some sort as we are already paying over the asking price- by £13.5k

OP posts:
Unmerited · 05/12/2021 09:14

If it went on the market again today, do you think it would sell for more than your agreed price? While that shouldn’t be the point, and they should just give you a straight answer, I winner if that’s what’s going on in their minds. Can you put some pressure on the estate agent to find out?

Original poster
Livedandlearned · 05/12/2021 09:20

If they say no I'd probably still go ahead with the sale, we really like the house and most definitely would sell for more than the price we offered.

OP posts:
TizerorFizz · 05/12/2021 09:26

My guess is that they don’t think the quote for the worm is their issue. If it was reasonably priced it may be you have to take the hit on the chimney? I’m assuming you are doing it up anyway. Be careful or they might market it again. I would speak to the agent to try and reach a compromise but maybe you will need to back down?

TizerorFizz · 05/12/2021 09:26

worm…. Work

Original poster
Livedandlearned · 05/12/2021 09:33

It was my solicitor's idea to ask for a reduction, I kind of wish I hadn't bothered now for all the reasons stated by pp

OP posts:
starfishmummy · 05/12/2021 09:44

Maybe they are having their own investigations done. Or getting the work done themselves. Or talking to other heirs. The thing is you won't know unless you contact them. Maybe in a "Have you had a chance to consider......." way. And then you can take it from there.

EdgeOfTheSky · 05/12/2021 09:51

How much does it cost to repair or demolish the chimney?

twocandlelady · 05/12/2021 09:52

You can’t! We are going through a nightmare purchase atm and unless they’re motivated to move you just cannot do anything. Our vendors made it clear they’d rather lose us as buyers than put themselves out in any way.

Terminallysleepdeprived · 05/12/2021 09:55

Good luck op.
I was in a similar issue with my purchase 2 years ago, vendor wanted sale to go through by x date but did everything possible to not respond promptly to issues.

Bloody nightmare.

I stuck with it though as was in no particular hurry. The reality is you are unlikely to be in before Christmas now so may just be better to wait it out

EdgeOfTheSky · 05/12/2021 09:56

Talk to the EA. They are often so much better at communications over sale progression than solicitors.

Problems likely to be: did you make a specific proposal: we would like to reduce by this specific amount? Your OP makes it sound like a vague ‘would you consider any amount?’.

Secondly, there may be several siblings who all have to discuss and agree.

If you paid an amount you are happy with and know you could sell for more, it is irrelevant that you paid over asking price. Many do, atm.

Get on to the EA (who will be very keen to get the sale done and dusted) and say you are waiting for a response, do they know what is happening.

Original poster
Livedandlearned · 05/12/2021 10:21

I was too vague, I can see that now.

I'm going to call the EA tomorrow and ask if she knows whats going on and go from there.

Thanks everyone, I just need some timescales, I have no idea whether to decorate for Christmas or not, the wait is tedious!

OP posts:
Clymene · 05/12/2021 10:25

So the house is worth more than you're paying and you've asked for a reduction? I'd think you were a bunch of chancers if I were them and put it back on the market. They're presumably not in a huge hurry to sell.

If you really want the noise and it's a bargain, you've been very silly.

Clymene · 05/12/2021 10:26

Noise = house

Original poster
Livedandlearned · 05/12/2021 10:26

No, the house is worth less than we are paying but the way the market is here at the moment I know it would sell

OP posts:
Clymene · 05/12/2021 10:35

@Livedandlearned

If they say no I'd probably still go ahead with the sale, we really like the house and most definitely would sell for more than the price we offered.
Okay - I read this as it would sell for more than you've offered.

But in any event, you are not in a strong position. The market is buoyant, they're not in a hurry to sell but you're in a hurry to move. You're not really in a position to negotiate.

I would call the estate agent tomorrow and say you've reconsidered. And hope for the best.

And for what it's worth, surveyors always say chimneys need repairing. They're in the business of covering their arses. Mine needed repairing when we bought this house 11 years ago. Still haven't done it (and my house has 3 chimneys)

Original poster
Livedandlearned · 05/12/2021 10:44

@Clymene I agree with what you say, and I am going to speak to the estate agent tomorrow.

The chimney does have a large crack down the middle, I don't really want to risk it, all the other bits that the survey picked up on I disregarded but we plan to use the wood burner and I wouldn't feel safe. The quotes for replacing a chimney were about £2k.

The solicitor made it sound like the right thing to do, but now I really don't know!

OP posts:
Clymene · 05/12/2021 10:53

There isn't really a right or wrong thing to do - buying and selling houses is negotiation. A house is worth what people will pay for it. I think the fact that they've gone silent gives you your answer! All your negotiation has done is delay the process as far as I can see.

notangelinajolie · 05/12/2021 11:03

Was the lenders valuation ok?
You need to make a specific offer. They aren't going to reduce the price until you do. The ball is in your court and they are probably waiting for this. They may come back with a counter offer so calculate this in.

Good luck Flowers

Daisydoesnt · 05/12/2021 11:07

OP if I were you I'd speak to your solicitor first and just double check if you are otherwise ready to exchange - and if not, what is it that your solicitor is waiting for? At least then you'll be informed when you have that conversation with the EA. If you are ready to exchange and it's a probate sale, I don't see why you can't be in by Christmas if you can find removals? It's got to be worth a shot.

Original poster
Livedandlearned · 05/12/2021 11:10

We are ready to exchange, that's what's made me want to get the vendor moving.

OP posts: