Ultimatum - exchange contacts by 12pm tomorrow

[RosieLeaLovesTea]

We are buying a house chain of 3. We are buying off vendors they are buying off someone. Those sellers have moved into rented. Those sellers have issued an ultimatum that if we don’t exchange contracts by 12pm tomorrow they are going to put their house back on the market. They chose to move into rented before their property was sold. I think it’s foolish as we would be ready to exchange next week. We received our mortgage offer on Saturday 23rd July. I returned the contracts Monday by next day delivery and they arrived with solicitor today. We started 12 weeks ago. So can this be salvaged. I feel sorry for buyers as they have just had a baby. I did think to offset that we then a financial contribution to their rental costs if they proceed?

sorry I should say make an offer to their rental costs if they proceed?

They are being very unreasonable. You are moving at a decent speed. Do not offer them money. Why would they put the house back on the market when they are this close?They are definitely bluffing. either that or crazy

They are just bluffing. Why would you put it back on the market knowing it will complete in the next week or two only to be faced with months of uncertainty? Crazy if they do especially if they are in rented. I moved into a rented house after selling and refused to sign a lease until we had actually exchanged.

Also you would be bonkers to give them money!

Do not give them a penny. PP
are correct they are bluffing. Idiots.

Dont pay them a penny.
There is no way the top of the chain will complete faster than you if they go back on the market.
Hold your nerve, tell estate agents and solicitors you are proceeding as fast as possible, and try and get a date for exchange (or at least tell them you will exchange as fast as possible).
Top of our chain did this to us last week. We move tomorrow!

12 weeks is FAST - we were told to expect 12-16 weeks if no delays.

if we don’t exchange contracts by 12pm tomorrow they are going to put their house back on the market.
What? In August!!?? Don't they know that everyone is on holiday.