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Buying House painful situation - pls advise

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Hi We are in a difficult situation and looking for advice from you people who helped us so many times in the past.. After an eventful year 2016 (got redundancy, finally got new job, had a baby e… Read More
dhanepud Avatar
5m, 2w agoPosted 5 months, 2 weeks ago
Hi
We are in a difficult situation and looking for advice from you people who helped us so many times in the past..

After an eventful year 2016 (got redundancy, finally got new job, had a baby etc etc) we put an offer to a property on 27 October 2016.. initially we were told that upper chain is short and sorted as the upper chain is moving to empty property. Sellers told us that they can complete first week of Jan. In Jan they said they can exchange by end of Jan. Then they said mid Feb and now they are saying end of Feb seems difficult. Meanwhile, when they once said they are ready to exchange with completion on mid feb we gave notice to our landlord and our last day with rented property is end of Feb.

If we start looking for another property to rent we are stuck for 4+2 months. If we go to airbnb can we tell sellers that our offer will go down by £2500 for delay of each month? or we can negotiate for £10k less straightaway to cover cost of hassles?

I understand situation is too peculiar or people might find me annoying asking silly situation. sorry about that..

Thanks a lot
dhanepud Avatar
5m, 2w agoPosted 5 months, 2 weeks ago
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#1
Can't you do anything you want until the point you exchange? I think it is then you are committed to price and timescales if I remember right
suspended#2
You can tell the seller whatever you wish and they can choose to sell or simply pull out. You need to establish what the delay actually is so you can make an informed decision on what to do next. Is your existing landlord willing to extend your notice period till this is cleared up? Ideally you'd exchange contracts making the sale binding, give notice to your landlord and arrange a completion date to coincide with the end of tenancy. First things first, you need to know why they are delaying so you can make a decision.
#3
Similar thing happened to us.

(Well, similar in that 1 of the brothers who was living in the house that we bought, that he and all his siblings had inherited and decided to sell and split the money, he never moved out for 5 months after we had already agreed a date and moved out of our rental, so then had to rent somewhere else for 6 months)
In our experience, there was nothing we could do. Had to basically get him evicted and change the locks. I think we could have sued him for costs etc. but we were just glad to be rid. Oh, and we had to get a new boiler as you only get 7 days to check everything that is in the home report. You live and learn!

Ask them if they will split the costs you incur. If they are anyway decent they will.
#4
welcome to the awful buying and selling process in England that for some reason no government wishes to change.
#5
Take control of the situation pull out and find another house to buy.
#6
Ask your current landlord politely about your situation and whether they can keep you on for additional 2 months. Also alarm bells ring about your purchase, I would start looking at other properties and reduce expectations on this one.
#7
sam_m
Ask your current landlord politely about your situation and whether they can keep you on for additional 2 months. Also alarm bells ring about your purchase, I would start looking at other properties and reduce expectations on this one.

+1

Will you landlord keep you on on a month to month basis?
You are being messed about and have a right to know why and that's about it. Once you have that information it's up to you whether you stick with it or move on...
#8
You can tell the sellers whatever you want. You can walk away (as can they) at any point until exchange. You could look for and find another house and not tell the current sellers, if you wanted to.

It all depends on whether they want to sell more than you want to buy. If they know they have other buyers lined up, why would they give you a discount?

And yes, it is a ridiculous process. I honestly couldn't believe this is how people attempt to buy and sell the most expensive thing they will ever own.
#9
ask your landlord if you can withdraw your notice and stay on. Have they been holding viewings/ do they have a new tenant lined up? Most landlords dont advertise until a tenant is actually out as they know if you dont actually leave they still have to go to court to evict you. Still its polite to give them notice that things have changed.
#10
I take it you have a solicitor? Have you spoken to your solicitor about the delay? As already suggested you should speak to your landlord to get an extension but also ask your solicitor to find out what the delay is and to put a deadline on exchanging contracts with the threat of pulling out of purchase unless there's a good reason given.

Edited By: t_kaay on Feb 05, 2017 18:07
#11
You need to know what the issue is.

I'd be getting the estate agent to chase them and suggest that they move into rented.
Otherwise start looking again.

I'd probably wander into the agents that they are using and show interest in other properties, 'since the one we were interested in seems to have fallen through..'
#12
speak to ur landlord explain situation and see what they say be truthful and tell them what's happening they should be willing to extend it for u I would if a person was being decent to me. explain the situation to the sellers and suggest they move into rented accommodation as they maybe trying find another place before moving out. But by know u probably have a good idea of what kind of people they are and I think it solicitors aren't very good either and estate agents who are dealing with this situation.
#13
MynameisM
speak to ur landlord explain situation and see what they say be truthful and tell them what's happening they should be willing to extend it for u I would if a person was being decent to me. explain the situation to the sellers and suggest they move into rented accommodation as they maybe trying find another place before moving out. But by know u probably have a good idea of what kind of people they are and I think it solicitors aren't very good either and estate agents who are dealing with this situation.


or worse case suggest to landlord u will pay rent for set amint of weeks after leaving when u finally move out that way they may not be too bothered about the notice period and u can stop playing guessing games on other people's decisions.
#14
when we were buying from renting landlord agreed to monthly rent as they knew we were good tenants. speak to landlord as long as you pay the rent on time there's no harm done by extending your agreement and it guarantees them an income for another month or two
#15
Thanks all , it's so painful everything

Landlord found tenants starting 1 march :-((

Sellers gave 5 different reasons in 1 month for delays :-(
#16
Unfortunately house sales can be a nuisance.
I'm a landlord who has bought 4 houses in the last 6 months.
Meanwhile my own house sale/purchase has been ongoing since August due to unforeseen circumstances.
Just down to the patience of buyers and sellers, not worth trying to make a quick buck in compensation just for the sake of it.
#17
dhanepud
Thanks all , it's so painful everything
Landlord found tenants starting 1 march :-((
Sellers gave 5 different reasons in 1 month for delays :-(
Speak to the landlord again and tell him you will give him an extra £10/£20 a month than what your paying now.
Personally if the sellers are making excuses i would reluctantly pull out of the sale.
#18
I'd start looking again, they are stringing you along. Set a deadline for completion and if they won't agree to it or don't do it by then give up on them. In the meantime start looking for alternatives and sort out somewhere temporary to live. Never give notice until you have exchanged contracts in future.
#19
I think you need to tell who you are buying from that at the end of Feb you will be forced to sign a new assured tenancy which will tie you up for another 6 months (presenting this will soon tell you if you need to do this anyhow and look elsewhere).
Other plays include not moving out with your present landlord which would take him a few months to evict you - if the landlord has been good though this would be unjust and could also be very uncomfortable. Worth explaining your situation though as they may know of other short term options (i.e. other properties or landlords with short term vacancies). The only other likely route to get into something you own within the time lines is a new build ready to go (those government home loans valid here though help jumping higher up the ladder)

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