Buying a property...seller wants to complete early...!

[fordmon]

Hi

I hope some one can help me. I am a first time buyer and so far all the legal stuff has been plain sailing.

I did enquire about before making an offer that seller is not in chain.

I have made several Enquries throughout the process to get the update on progress and now solicitor has sent me the contract and said we are close to exchange.

I have been stating from the beginning that I have to give my landlord notice and did manage to change my tenancy to rolling rather than extending.

Now out of the blue my sellers estate agent rings me and says that we should really push and you should ask your solicitor to get things done quickly to which I agreed and three days later he called me and said that they want to complete on 19 September as sellers mortgage offer expires on 20th

I did not give notice to my landlord as my solicitor advised me against it and said unless the exchange is done nothing is concrete and it may result in homelessness

Now the sellers agent kept calling me since two days stating that if we don't complete I will lose the property and I think I am being bullied in to agreeing to this as I don't want to lose the property.

But I cannot afford to pay rent and mortgage payments and interest from the day of completion
Moreover I will need to make changes to my daughters nursery and all too...

I am not sure what my options are?

Hope someone can advise me.

Regards,
First time buyer

[fordmon]

Thanks for all the advise.

If I could afford it then I would have agreed to the completion date and just moved on but I can't afford to pay rent and mortgage at the same time. I also don't want to be in a situation losing the property which means losing all the money spent towards mortagage advise, solicitor etc....

I will propose seller to pay for my rent.

[fordmon]

Thanks for all the advise.

If I could afford it then I would have agreed to the completion date and just moved on but I can't afford to pay rent and mortgage at the same time. I also don't want to be in a situation losing the property which means losing all the money spent towards mortagage advise, solicitor etc....

I will propose seller to pay for my rent.

[fordmon]

Thanks everyone..

I spoke to my solicitor and am awaiting replay.
My mortgage advisor said that the enquires raised are still pending and until completed we can't complete anyway and they should have informed us about the time line earlier.

Will let you guys know ..

Thanks

[fordmon]

My mortgage advisor recommended the solicitor
So gets the updates at the same time as I do.

He sometimes follows up on my requests and gets info for me.

[fordmon]

I got an update from my solicitor yesterday and apparently they been made aware of the mortgage offer expiring may be a week ago and the actual expiring date is 1st.october and not 19th sep as said seller's estate agent.

I made it clear to my solicitor that i cannot afford to pay for two properties and if seller's are willing to pay my rent then I can move.

Seller's agent called me today asking me if i am willing to move by end of this month and i did tell him that i cannot afford to move as i will have to pay for two properties. He started insisting, saying i will lose the property and the property prices are going up and i will lose everything i spent so far. he then said if sellers can contribute something then am i willing to move.

i agreed that if seller is willing to pay then i can move. He said he will speak to sellers and call me back. He called me back in like 10 mins an said that seller is not prepared to pay as they have already reduced the property price. ( we offered more but the bank valuation came back 3000 less so they agreed to take less).

Then he kept insisting that the i will lose property and all the money spent so far. I did say that if i lose then the sellers will lose too ....

But he kept on insisting saying they don't have to move but would like to move so they wont be homeless as me (i told him i will keep living in the tenancy...)

He said i can think through the night and will call me tomorrow to find out......


I am not sure should i give in ..take it on the chin and move on (which means no money for white goods in the house) and will have to borrow some from friends...

Any thoughts?