House sale hold up advice please.

[Askandyforcompo]

We are selling my husband's house he had before we met. We've been renting it out for 7 years- he didn't want to sell it 7 years ago. The mortgage is £1200 a month now, hence selling it.

It's a chain free sale but it's been 4 and a half months already. The process keeps stalling. Last week the estate agent said we were looking to exchange this week ( our solicitors say everything is done our end) but yesterday this changed to 5 more weeks for no real reason. The buyers have raised some additional queries but not sent them to our solicitor! This is after all queries were answered in early July.They also say they want to refloor the whole house and want us to pay 50% which is £4k. We already reduced the price by 10% on condition that there were a few things that need doing, which are obvious when you view it.

I'm tearing my hair out as it's pretty difficult paying two mortgages. We want this sale to go through but feel absolutely powerless! We've offered them £2k towards the floor.

Just say no, they are holding you to ransom. Tbh they sound cheeky swines, if they want flooring pay for it themselves. You need to draw a line in the sand because after ther flooring it will be something else because they are playing on your desperation. If they have gone this far paying surveys etc chances are they wont pull out they ar3 chancers. Tell them you are selling the house as seen and it reflects the price you it for, there will be no upgrades. Ours started this with piddling things but we said no. There is no law that you have to sell with flooring. Bloody cheek

Threaten them with putting it back on the market if they can’t complete. They are trying it on and attempting to hold you to ransom. Play the game back.

Put it back on the market (or at least threaten to) Cheeker fuckers asking you to pay for their own design choices.

I had someone like this many years ago.
In the end, I just told him I wouldn't sell to him.
It was far too stressful jumping through his never ending hoops.

It all worked out in the end with a different buyer.

Dig your heals in and say no more reductions
It sounds like your OH has already been very generous with a 10% reduction and then £2k for the floor ( would not have done that personally).
Are they FTB by any chance as they can be the worst? They think they are a sellers dream by being chain free but their demands often make them a nightmare?

It’s not up to you to pay for their flooring…

Do they want half of a new kitchen too?

I would pull out today. That will put the frighteners on them, ir at least get rid of them. Ask for it to be remarketed. These buyers are taking the absolute piss, getting you to pay for upgrades.

WHY WHY WHY are you paying towards their new floors?!?!?!

Because we've already lost over £6k and if it starts again it will be another £6k (at least) on mortgage payments. So we decided to offer half of what they asked for. Obviously I wanted to tell them to fuck off!

Yes, first time buyers. They've already held things up by changing solicitors and mortgage companies! They're also getting a gifted deposit from abroad. Their solicitor is a cheap as chips conveyancing company. So yes, nightmare buyers really.

I hope Karma gets them.
Did you see this very old thread that got bounced to the top, it might cheer you up, or even give you a few ideas! ;)
www.mumsnet.com/talk/property/629408-revenge-ideas-now-we-39-ve-given-in-to-our

TELL them they have to exchange by 1 Oct 1300 hrs or you will be pulling out and relisting the house at £10,000 more overnight. No more ifs/ands/maybes. Ideally complete on 7 Oct. In other words a rocket up the nether region.

Remember to get to this point they’ve invested a lot of cash (surveys and legal fees etc), so hold your ground! They’re trying it on and you’ve been more than generous!! I’d say it need to be completed on the next two weeks or you’ll start marketing the property again

Agree with previous posters that I would tell them it's worth full asking, the previous 10% was goodwill to speed the sale up and that I'd it's not exchanged in 3 weeks the 10% is off the table and you are seriously considering putting it back on the market due to their delays.

Have you considered any of the house buying agencies for a quick sale? Sounds like you're giving a lot away for delays in return.

Put it back on the market. Tell the buyers they exchange by the end of the month ot they are no longer able to buy it. And if they do suddenly decide to exchange then do not agree to any reduction. They want to change the floor? They can do whatever they want when they have bought it.

We’ve been on the market for 6 months and it’s really hard to find a buyer - high interest rates, lots of houses on. Much as it sticks in my craw, for 2k I’d just pay or it’ll cost you even more in mortgage payments. Make the 2k contingent on a fast exchange and completion from here.

Ok 1st thing. Once a search is done, its done. And yes the questions are much!.They are stalling as they are gazundering you, I strongly suspect they dont have full asking price available currently! Its not really a thing to get the previous owners to half pay for floors . Their problem is financial. Have a word with the agent to keep it on market. Dont worry about contracts you have not done anything wrong. That's how I bought this house. As someone else had been messing sellers about for months. But I bought it cash, completed in 2days after contracts were exchanged. A really short chain! Please also contact your solicitor about their stipulations. Dont agree to anything even if you are desperate to go

They are playing you for fools. You have given them leeway previously and they are now wanting more (just like children). Either they exchange tomorrow and complete by the end of the week or you are totally lost. They will never ever buy your property as they have another property seller in their sights to piss off. You are not the first and if you let them play around with you, not their last. Call their bluff, in the long run you do have a lot to lose but not as much as them.

I cannot believe you are at this date, one month on from my first message, and still not completed. Firm up both of you and get this sale done This Week. Both you and your buyers are pissing about. Get It Done. You are losing money by the hour and they are playing you for idiots.

To be fair you have had many years of rental income during a period of ultra low mortgage rates. Ex rentals take a bit of a beating, plus the market is awful. Dont shoot yourself in the foot. Give them the 4k and get it done. If you mess this deal up you may end up selling for less anyway - plus the extra mortgage costs...

How do you know it's not completed, op hasn't updated the thread since September?

It did complete, but only two weeks ago! The buyers solicitor told our solicitor that the buyer was 'a nightmare'. She really was. She's already contacted her solicitor because two pots of paint were left in the shed!

Great news op. Glad you got it over the line. I bet thats a weight off your shoulders :)

The sound like absolute entitled jobsworths. At least the house is gone now.
I’d have not offered to pay for flooring. The house is sold as seen. Guessing they’ve been given the golden spoon all their lives!