Breaking the chain

[insomniac1]

Hi - just wanted to get your opinions. I posted on AIBU but think actually it belongs here so apologies to anyone who sees this twice!

We are currently at the bottom of a property chain. The chain has 4 levels.

Everyone is ready to exchange apart from the person at the top who is insisting on waiting for a document (which I've been told isn't even necessary but that's his prerogative).

We needed to complete by tomorrow as our landlord wants his house back and we have to move by tomorrow.

We had built in a buffer for delays of 3 weeks when we were planning to stay in a serviced apartment (although this is really expensive as we are a family of 5).

We have now been told it will be at lease another month (could be longer) as the top of the chain is going on holiday for a month.

We have stayed hundreds of times to the agent and vendor that if we can't complete by end of October we will have to sign another rental contract in which case we can't buy the house.

We asked if the vendor would be willing to break the chain. He said no. He asked his vendor if they would be willing to break the chain - again no. So effectively the chain will break now and everyone back to square 1.

My AIBU is.....I don't understand in this market why vendors wouldn't break the chain to secure s buyer? If house goes back on market they may take ages to find another buyer and likely at a lower price. If I was selling I would 100% break the chain to secure the sale. AIBU?

Thank you!!

No, you are not being unreasonable. It sounds like you have three excessively stubborn parties above you, parties who probably have a great deal more disposable income than you, who want you to pay for the fact that they can’t meet their promises (if they are even aware of your date - EAs are great at withholding information).

I would be very hesitant to go into serviced accommodation, it probably costs three times as much as your rent and you have no guarantee of a house at the end of it. That’s more important than the cost of the stay.

If you tell your LL you cannot leave tomorrow he can’t kick you out, even if you have given notice. It feels extremely uncomfortable but it’s sometimes what people purchasing houses are forced to do. Apologise profusely, pay a fortnight’s rent and tell him you have no choice but to stay.

Don’t sign a new lease either. Nobody can make you sign a lease tomorrow. You have be evicted, and that could take 6-12 months. Just make sure you keep paying.

Eugh that’s extremely frustrating for you. Agree to above advice. However I was completely ham it up to the EA saying you may need to break chain, don’t want to etc. Outline what you’ve said above to see if some sort of miracle occurs.

My son is a fTB renting on scheme where he has incredibly low rent for 5 years
850 a month 2 bed 2 bath huge apartment
should easily be around 1300

had a huge deposit ( 100k)
buying a house and was very clear he had to sigm
by mid oct as otherwise like you he has to
either agree to another 1 heat contract or go on to the higher rate

sellers said when he made his offer that they would move into the house next door if there was an issue with there purchase

well surprise surprise there is an issue ( equity scheme on the house they are buying and cos they are porting the mortgage they can’t : won’t move into the empty house next door

I think they thought they could bully my son intp

waiting but he just said nope
sign by next week as agreed
move out sleep in a field I don’t care as agreed
I won’t be buying if it goes pass that date as I have cheap rent and I can buy again next year

They have jobs lined up in the new area so I have no idea what they are playing at
and they wouldn’t get the same price from another buyer if they have to relist it

The scheme my son is on means he can only do
a 12 month contract
due to the cheap rent
he may get a few weeks leeway with his landlord but he would have to pay the much higher rent and the way the sellers have behaved I wouldn’t trust them

honestly, I hate some selfish toxic sellers out there.
To go on holiday and leave you like this with children, it's disgusting.
I don't think you're being unreasonable.
But have you already exchanged? I think you could lose your deposit here.

if no exchange and no loss of deposit, I think you should/could tell your vendor you want them to pay for your rent. They can go up the chain to spread the cost, but you want the money upfront. If nothing, break the chain. F them.

God knows how long you'll be waiting for the house and it's massive stress on you and your family. In the meantime, I hope they do stop being a-holes and you are all okay shelter wise!

Well I am currently sleeping in my in-laws dining room for the foreseeable future, in order to allow our buyers to complete as their rental was running out! So no, you are not unreasonable. It was do this or lose our buyer. Hopefully it’s only a month or so before we complete on our purchase!!!

This nearly happened to us. Agent told selfish one to leave completion money in a holding account with solicitor and it all went through as hoped.

Good new for my son
his landlord has allowed him to go month to month for a few months as otherwise the sale would fall through if he had to do another contract

i did think it was a bit harsh as the scheme is set up for FTB so not allowing them to go on a rolling contract seemed a bit harsh

but he’s not going to tell the sellers this he’s going to keep to his deadline and possibly renegotiate the price if it goes over the deadline