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Howard
Think we may have to pull out of our planned house purchase.
The buyers of our house have - rather unwisely - signed a contract to rent their current property from the first week in February.
We are yet to exchange.
The seller of the place we're planning to buy won't be able to complete the purchase of the house she's buying bef0re then.
She has offered to break the chain and move into rental but claims she needs 6 weeks to arrange that which is obviously not going to work.
So we're in a kind of standoff: We've got 2 young kids and aren't prepared to move into temp rental; our buyers are contractually bound to move out of their place very soon; and the seller of the place we're buying won't leave or complete her purchase in time.
If our buyers (a youngish couple) won't help by moving into temp rental or AirBnB for a few weeks then the chain will collapse one way or another!
To be fair our buyers did put the offer in back in October but they shouldn't have signed that rental deal before exchanging with us. We did provisionally agree to completion by the end of January but it's a house sale and there's been a few other things going on...
They are now in a very tricky position.
Realistically I think we'll have to cancel our house purchase, complete our house sale and move into rental.
At worst the whole thing collapses and we stay in our house and put it back on the market in the Spring.
Whatever happens it's going to be stressful with some upset people.