Seller offering £ to progress house chain

[cbehagg242]

After a bit of advice as with regards to the current property chain I am in as this is my first time being in the middle of a chain.

Basically we offered on a house at the beginning of November after receiving an offer on ours. At the time of viewing, the vendor advised us that if they were unable to get the house they were after, they would stay where they are.

During December the vendor decided that they didn't want to wait anymore (and lose us as buyers) so found a new property and had their offer accepted. So my thinking was well that's a bit strange etc..so much for only wanting this one property.

Anyway, up until now we have been waiting for the top of the chain to find a property. The vendor we are buying from has now apparently offered the top of the chain £10,000 to move out into rented or find a place that's chain free within the next 3 weeks. We are awaiting their response.

Now to me that seems like an excessive amount of money to offer someone to move out of a property they didn't intend to buy. My sceptical side has got me questioning why he is so desperate to sell?
We have viewed the property twice and been to the area a further 2 times and haven't seen anything that rings alarm bells.
Price is within market value for similar properties in the area.
Maybe the vendor stands to make a hefty profit on the agreed sale price?
Is £10k excessive for this type of push?
Any other ideas?

Thanks,
Craig

[DocJock]

Sounds like they've offered to pay the top of the chain's expenses for a 6 month AST.

[BoRED S2upid]

Needs to leave the country? Getting divorced could be plenty of reasons.

[hyphen]

Are they downsizing and so need the cash?

[cbehagg242]

DocJock said:

Sounds like they've offered to pay the top of the chain's expenses for a 6 month AST.

That's what I was thinking, pushing them to move out and find somewhere on their own timescale.


TBH I'm not sure they are downsizing, the house is a 3 bed but they have no children at home so would assume they would be going for a 2/3 bed property.

[PositronicRay]

In that situation with the risk of a chain collapsing I'd consider making the payment. Better that than moving into rented myself and back to sq one.

Did they lose the 1st house because they weren't in a position to complete? Maybe just sick of the whole house buying fiasco.

[cbehagg242]

PositronicRay said:

In that situation with the risk of a chain collapsing I'd consider making the payment. Better that than moving into rented myself and back to sq one.

Did they lose the 1st house because they weren't in a position to complete? Maybe just sick of the whole house buying fiasco.

No they retracted their offer on the 1st house as the women in that one wasn't very proactive in looking for somewhere to go. Think the vendor just had enough of waiting for her and thought this 2nd house would move quicker...it hasn't.

Although they did say they would re-offer on that house if this women found somewhere.

[V8RX7]

cbehagg242 said:

After a bit of advice as with regards to the current property chain I am in as this is my first time being in the middle of a chain.

The vendor we are buying from has now apparently offered the top of the chain £10,000 to move out into rented

Now to me that seems like an excessive amount of money to offer someone to move out of a property

Seems entirely reasonable to me.

£10k will only cover around 6 months rental plus a bit of storage / removal costs - it's hardly excessive.