Buyers trying to break chain.

[Greatrainplane]

Hi All, house selling has become a headache!!

We’re doing a big move across the country with kids.

We’ve just got the 3 month mark since all offers were accepted and the offer on ours was on the basis that we were in a chain and could take as much time as we needed. The chain is only three houses (chain free at each end). However, despite not being fully ready themselves the buyers have been pushing for 2 months for us to complete and move out. Every Friday we get a request with some reason why this should happen. They still need to issue a statement of truth regarding some access they’re worried about.

Our surveyor has been delayed so we haven’t yet had our survey back (due this week) and we had to renegotiate the purchase price on the onward move so we need a new contract and TR1. We’re waiting for the council to process school applications and our solicitor has made mistakes in some documents so they (and we) need to review everything.

Other than that everything has moved really quick and 3 months is pretty standard (especially considered quick with the pace of solicitors currently).

They announced a few weeks ago that she’s pregnant and they want to move in before the birth in early February. Our solicitor told them that wasn’t possible (and they hadn’t mentioned the pregnancy previously when negotiating). Now they’re saying she’s about to go on Mat leave, they’re mortgage offer ends next month and if they have to apply again they won’t get a good offer because she’s on Mat leave (??). We’re trying to find out the date their offer ends. They’re also saying exchange will secure their mortgage (??). Does this sound plausible or are they just trying to get their way?

We offered to exchange next week but they’re now pushing us to complete in 3 weeks. 5 weeks works better for us. In previous house moves we’ve always felt a bit bullied by this stage - should we hold our ground?

If we were to break the chain and complete the sale first we do have a potential option (family home to move in to temporarily) but it would cost us in storage and extra removal fees. Considering that we accepted their below asking price offer on the basis of the chain and having lots of time would you tell them only if they upped the price to cover this?

Would it take the edge off if they were to pay moving and storage costs you will incur as a result of moving when they want rather than when suits you? If so offer that, it will at least help crystallise whether they are serious and willing to share the pin form their own demands.

FWIW, I have gone from viewing (not even offer) to completion (not even exchange) in two months. We were one end of the chain (ie our sellers were you, they were buying from a man moving to a retirement place) but everyone was very motivated to get it done. We were all fairly local, which helped, and it was rather a breakneck process, but just as a benchmark that not having an exchange date 3 months after all offers were accepted really isn’t going quickly.

This is incredibly expensive and there's no guarantee of finding a short term let. I'm in that situation and am pretty annoyed with myself for agreeing to break our chain because of how extortionate the costs are.

Why is a pregnancy relevant to the OP if school places aren't relevant to the buyer?

OP has said there is a family owned place she can have, though, so it’s storage costs rather than let availability

It’s relevant if her buyers pull out. And it’s an unavoidable deadline, whereas being out of school for a couple of weeks is physically possible.

@SheilaFentiman my daughter being out of school 'for a few weeks' would be a nightmare and certainly not something I'd do without a very good reason. How are people meant to work or are they meant to just not worry about that too?

School places are completely irrelevant. It sounds like you don't want to move until after you've had the school place offer - are you playing the system?
whether she buyer is pregnant or not, whether their mortgage offer will run out or not - this is irrelevant to you, but not to the buyers. They want to move asap! That’s perfectly normal isnt it? Why on earth has the survey not been completed?
As someone else has said, are you prepared for them to pull out?

I think 2 months is very unusual to be fair @SheilaFentiman

We had a sale/purchase where everyone in the chain of 3 was extremely motivated to move quickly (we didn’t even get a survey & neither did our buyer) but it still took almost 3 months. I think where surveys are involved that very often delays things. Not just booking them in - which some people like to do after other information is back but also dealing with the issues found.

I am not saying it would be easy, but you must admit that a baby is even less negotiable.

I will leave it there.

Property market is slow I understand. How difficult was it to find a buyer. I'd prioritise not losing my buyer and move into temporary accommodation if needed. Its such stressful process.

A baby will arrive when they want to arrive but aren’t fussy where they sleep 🤷🏼‍♀️

@SheilaFentiman our buyer having a baby or us having to not work for a few weeks to care for our daughter meaning a loss of income - nope, the baby wouldn't trump that for me,

I'll admit; I'm in a position where losing our sale would be a bit annoying but ultimately cheaper for us than breaking the chain since there's nothing to buy and just hideous cost for an unknown amount of time. My view may be different to those with something to buy.

@Twiglets1 yeah it was a bit insane :-)

we did have a survey as well, but we decided not to try and get anything off as a result of the survey as we felt we were paying a fair price even with some of the issues raised.

Oh of course - if anyone isn’t hugely desperate to move then they “win” by virtue of being ready to pull out.

As OP is moving across the country I assume this is for a specific reason (job, family) so the move will happen at some point, and if the pregnant buyer pulls out, OP will lose the house she wants to buy and the sunk costs on that. So I suspect she is the keenest in the chain, though I may be wrong.

Your title is misleading. The buyers aren't breaking the chain. They are the ones wanting to get on with it. You are the ones wanting to hold it up potentially leading to the whole deal falling through.

Re the point regarding mortgage offers. There are some mortgage companies that will take into account the fact that income goes down during maternity leave and indeed the risk of a new mother wanting to go part time, affordability of childcare etc whereas the current mortgage offer may not factor this in.

If you can't apply until 20 days before the move, why do you need 5 weeks to complete?

Strange how you're saying "it's only been 3 months" but want to delay by a further 5 weeks which takes you to over 4 months. In my experience (former residential sales solicitor) 4 months is a long time for a relatively short and uncomplicated chain. It's wild that surveys werent instructed within a few weeks of offers being accepted but you are where you are.

I'd say given the timings and how long things have dragged on the buyers have been incredibly patient and you'd do well to meet their 3 week deadline. Futher delays would be unreasonable and possibly push them to pull out. If I were advising them I'd be asking for exchange ASAP and completion in 3 weeks.

You do realise that mortgage offers expire. Amd also they will do further affordability checks based on her current (reduced) income and factor in childcare costs which may not have been factored in.

You seem to be the ones who are manipulative in dragging it out to suit your school places situation.

Mortgage offers typically last six months. If they got their offer in place a month or two before they offered on yours, then yes, it is entirely likely it expires next month. They might not have mentioned it before because when their offer was accepted sometime in October, that seemed like sufficient time to complete before both the due date and the mortgage expiry in feb.

I'm selling a property at the moment, deceased parent, offer accepted in August to a cash buyer apparently no chain. started dealing with solicitors in Sept had email from them again yesterday asking same question that was asked in October Hopeless.

used when they propose to complete? awaiting answer!

estate agent has been told to put back on the market at the end of the week unless there is a satisfactory reply, to be told that is unfair on the buyer, pointed out they work for me?

new agent coming to look later today with a view of them putting it on their website Saturday.

You can't apply for places at state schools until you exchange contracts and yes you can just pull them from school without an onward place. Your solicitor making mistakes isn't their problem, they have a deadline and are likely to walk away if you can't meet it

Your title says buyers trying to break the chain- doesn't sound like they are the ones doing that 👀

I think they are at it but maybe they are just disorganised or didnt realise the time it would take so didnt realise mortgage iffer was an issue.

I would want the sale to continue however you can only go as fast as you can and it sounds like you are doing that.

we feel very manipulated

And I'm sure they feel the same as you want everything your way too.