Sellers taking the Michael, what would you do and how to word a pull out of sale email?il

[MysticalPombear]

How do I word a professional “pulling out” threat to sellers?

I’m at my wits’ end and need some advice on how to phrase things professionally when threatening to pull out of a purchase.

I put my offer in 22nd April.

The sellers’ onward property is empty, and their sellers are desperate to complete.

We were originally due to complete end of August, then 12th September, then 6th October. Each date has come and gone because of delays caused by the sellers and their solicitors.

My solicitor is ready. They have everything they need, but the other side just won’t exchange, and their solicitor is ignoring mine.

The seller keeps messaging me directly with excuses, which I’ve now stopped responding to.

Meanwhile, I’ve already come off my mortgage with my ex (early September, ready for completion on 8th Sept), so I’m now technically homeless.... splitting time between my campervan and my brother’s house. The sellers know this and the estate agent.

I want to give them a clear deadline: exchange by 15th October, complete by 31st October, or I will withdraw.

What’s the best way to word this so it’s firm and professional, without burning bridges unnecessarily? I just want to bring this to a close, one way or another. I don't know ifcthe sellers actually want to move and seem to think they call the shots and won't commit to a date.

I feel they are taking the Michael out of me now.

Any advice greatly appreciated.

Yes,I've said this to the estate agent so hopefully he can help.

It's just so mentally and emotionally draining now. 😪

1. You can exchange and complete on the same day, you don't need weeks in between.
2. Set a date and if not completed by then your offer is lowered by for example, 10K for every week, it drags on.

The sellers have said they need s week to two weeks between exchange and completion... they seem to think they are going to get internet set up before completion and they actually own the property so I don't think they are thinking logically

I wouldn't mind waiting if they agree and it goes through but they seem to stall over everything, things I rang and sorted in minutes they add an extra week or two on

They can use mobile phone hotshots or buy a mobile WiFi router, they don't need to wait to have Internet connected

Yes, use the estate agents to your advantage. Start viewing other properties through another agency and be prepared as it does sound like they are taking the mick and you might lose the house. Doesn't sound like they are very committed.
Send a one liner to the estate agent saying "If we don't complete by XYZ i will be putting an offer on another property I've seen". They will be scrambling to fix this.

In this position I started looking at other properties and told the estate agent I was doing this.

Yep !!

I’d tell the agent I’m looking at other properties and ask him if anything suitable is coming up. That should encourage him to help - having to remarket the house will not be appealing. I’m not suggesting that the agent is at fault but they are quite good at getting things moving when they want to.

why witter?

I would also be prepared for them to pull out so I would definitely look elsewhere.

Do you know their personal circumstances ie. are they moving to a completely different area so they might be getting cold feet, there could be other reasons why they are dragging it out:

• they could be waiting for interest rates to come down lower
• their relationship might be on the rocks
• they might be waiting to get their kids into a certain school (although if it was for this academic year they've missed that boat)
• waiting on 11+ results if the grammar school location is a deciding factor
• inheritance due
• just not that serious about moving

I feel for you as it is so stressful but I don't see any harm in pushing the limit.

I think you tell your solicitor to tell theirs your date or you withdraw.

Then get on Rightmove to see what's available to buy and rent. I think you would feel a lot better if you could rent even a spare room.

My sassy email worked, they are setting an exchange and completion date friday! I have had a good look around but it's still my favourite property so hopefully it works out now.

Thanks for all advice hand holding and support

I would still book in a with the estate agent this week to show you mean it otherwise they may slow up again once the heat is out of the situation

I am glad you have taken a firm line and hope it is all successful for you in the end.

Yet another reason why there should be a register of people who behave unreasonably over house sale and/or purchase, which you can remain on say for a period of 25 years. Regardless of whether the spivs and chancers charter that is the process in England and Wales is replaced by something better, the same as in Scotland would be an improvement.

Indeed

agreeing to set a date isn’t ok - it isn’t enough

Do a pre exchange viewing.

Also do be prepare to really walk away if they don't keep to the dates. They are settong it now, but... You knwo how people are.
Hopefully it willall work out!

When we were selling/buying this property we said at the very beginning "time was of the essence" exchange and completion had to be before 30 September. Our purchaser and seller were made aware of this at the very beginning. Our offer was conditional as to this date. We had a superb solicitor (old school) and he was totally on board and actually suggested this approach to us.

We moved on 28 September!

My late parents property was relisted earlier this week. We had hoped to complete this week but my buyers buyer withdrew after four attempts to exchange mid September. My buyers are back on the market, had a good number of viewers but no offers. They will probably be in a chain if they do get an offer. They are overpriced, and have admitted that they have stretched themselves financially to try and buy my parent's property .

I would rather get a new buyer who is able to proceed quickly. I dread getting caught up in another chain with these buyers. The first chain started in July. They are not open and frank, they hid that their buyer had dropped out and it was only my EA who spotted their property back on Rightmove, that exposed this.

I can afford to drop my price to get another buyer. I’m paying a lot of money each month on an empty property and don’t want to do this much longer, especially in the winter months with high energy costs. I can’t afford to do this indefinitely.

My agent has discussed “just as an idea” whether we would (there are 3 other beneficiaries) be prepared to help them financially if they find a buyer who offers less than their silly asking price. In other words would we ‘absorb’ their reduction, and reduce the agreed price we settled on in July.

Please, if you have experienced similar, would you consider this?
I can afford to withdraw completely and relist late Winter, I’m leaning towards this because my MH is suffering, selling my late parents home after clearing out their cherished possessions in my childhood home has taken it’s toll.

Please advise, ask me anything if above unclear. But what would you advise?

@Yellowsubmarineunderthesea

He is Uncle Bob's son.

Just pop back on the market now.

Thank you @LadyoftheMercians , it was relisted earlier this week.

I would respond with ‘we will cross that bridge if we come to it’. That way he knows it could be a possibility, but won’t be encouraging low offers knowing you will potentially pick up the tab.
It is emotive selling the family home in these circumstances, but don’t be taken advantage of. Sending you a big hug.

I just spoke with two of the other beneficiaries. One said “You’re not a charity, you need to go against your usual kind instincts and do only what benefits the people your parents loved, not total strangers who have overstretched financially.” This really hit home with me. They’re right, aren’t they? It’s hard to disentangle emotions with the need to be pragmatic when selling your parents home, Right now, I think I’ll withdraw the property early next week, Then see what happens post budget, with a view of relisting late winter. Hopefully I’ll be in a better place mentally then. Does this make sense or sound reasonable?

Four months after my offer and theirs was accepted they still weren't ready to exchange. So I put an offer in on a new place. Suddenly number one were ready to complete week after next. I said I wasn't told. She said if she checked will I carry on with the purchase. She was very shocked when I said no. Clearly wasn't true.

house I'm in is much better.

Yes, they are
You and beneficiaries come first.

My Brother wanted to drop price of my mum and dads bungalow when selling for neighbours who couldn't afford it, my sister luckily said no.

I wouldn't absorb their costs with your inheritance?! How cheeky of them to suggest. Put it back in the market.