Owning your own home

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Drakien
Anyone got any experience of being squeezed in the middle of a chain?

I've got a first-time buyer buying my place who wants everything done super quick, and I've got my vendors who're moving into a new build and being super vague about when that might happen.

In the event that our buyer wants a firm moving date but our vendor can't commit to a date

Either:
1. We pull out entirely ( but we don't want to do this a the house we're buying is great)
2. We stand firm, but our buyer pulls out (we need to market ours again and have to deal with explaining all the stuff with the cavity wall insulation nonsense to a new buyer)
3. We break chain and run the risk of:
  a. Renting for a long time, hanging around for our vendors
  b. Our vendors changing their mind for whatever reason and us having to house-search again
Can we break the chain and also get some kind of commitment from the vendors? We're happy to rent / stay with family for a bit, just not interminably.

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andyfallsoff in reply to @Drakien

I don’t have experience of this exactly - have been in the same situation and we just applied pressure and everyone waited!

I don’t think there is much you can get that is any real comfort other than exchanging contracts to buy - technically you could do that with a process to nominate a completion date in the future, but i am not sure of the issues that might pose (e.g. for any mortgage you need, plus you’d still potentially need to find somewhere to stay in the interim and wouldn’t have certainty how long for)

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Drakien in reply to @andyfallsoff

I'll take advice from my solicitor on what's possible. Out of interest, how long did everyone wait for?

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