Been messed around by a buyer WWYD?

[nymphadora]

It's a flat dh had prior to moving here. Was let until June we then put it on the Market & accepted an offer at the end of July.we were told buy to let cash buyers. Was a slight problem over freehold but was sorted by September. since then they have come back & forth with queries over windows/service charges/ other stuff all that were minor & clarified in a day or 2.
He signed final papers 4 weeks ago & we have been told today they haven't done searches etc.
He has now asked for clarification that they are prepared to buy or we withdraw.

We are then stick with the flat which has lost value since July. Am tempted by auction as was suggested before we accepted an offer. Or we let it again for 6 months then attempt to sell again. Or we put back on the Market ( probably different estate agent as they have been crap)

Ive only sold one property(earlier this year ) & EA and solicitir were all great so ive no experience of this.DH isnt working at the moment & im on mat leave so need the money or to reduce the outgoings at least!

WWYD?

[nymphadora]

Sorry for crap spelling am on iPhone

[Fiddledee]

Market is down I would let rather than sell if you can. It sounds like you needed better solicitors and estate agents - you can exchange in 4-6 weeks. You do need to do alot of chasing so that you are aware of where you are. Fact they have not done searches is ridiculous since July. Are they really cash buyers or no chain?


Given your DH isn't working he should be chasing like mad and seeking clarification from solicitors and estate agents.

[nymphadora]

That's what we are doing but only heard that today. They had the survey done ages ago though so it's not structural problems.

We were told in July cash buyers then a morgage was mentioned then a couple of weeks ago cash was mentioned again.

[nymphadora]

If we put it back on we won't use them again.

[nymphadora]

Any more advice?

[minibmw2010]

If the searches weren't done, that is a solicitor mistake isn't it, not a buyer mistake? I would encourage them to chase their solicitor (who should have done the searches) and set a time for completion.

[nymphadora]

The EA/our solicitor has been told they won't do it (sounds like buyer won't rather than solicitor) until they have this particular guarantee from us. They have it but are adamant it's not good enough although our solicitor doesn't know what alternative they want!

[nymphadora]

Sunday people, any advice???

[mamatomany]

What papers have they signed ? Have they exchanged contracts ? I would give them a week to exchange or else it goes back on the market first week of January which is divorce season and flats are very popular

[mamatomany]

Sorry just read the searches aren't back, these people are wasting your time, they are not cash buyers the cash is coming from a mortgage.
Tell the EA tomorrow you are pulling out and watch them run around like head less chickens trying to get the sale back on track.

[nymphadora]

We thought it was done as dh signed a couple of weeks ago.
Won't be using EA or solicitor again if (when) it goes back on

[lalalonglegs]

Some mortgage companies only accept searches that are less than 3 months old so it could be that their original searches are no longer valid. They do sound like arses though - I think it is time to remarket because they could well try putting in a low offer to reflect the downturn in price since they first agreed a price .

[nymphadora]

Been copied into some panicky emails between solicitor/EA but nothing from buyers side yet.

[nymphadora]

Deadline was today but nothing yet. Left a message for the EA and spoke to alternative one re selling. They said (I know to take it with a pinch of salt!) they still have buyers & we were selling it cheap before. BUT they have a buyer messing them around that I think is the same bloke.

[nymphadora]

It is same buyer ...

[mamatomany]

My mate paid £30 and sued the twit that cost them a fortune in solicitors fees through Northampton county courts, the one you do yourself online.
If he needs a mortgage he will not want anything like that hanging around on his records. See how it pans out but why should you be out of pocket ?

[nymphadora]

Been told he still wants some paperwork & may put in for searches next week. Saying cash buyer. No panic or anything about our threat to sell. Solicitor pretty sceptical about them.

Pulling in the morning

[lalalonglegs]

Have I understood correctly: your "buyer" is currently also buying another house with another agency and being equally slack? So, unless he has a major amount of money in the bank, the likelihood is that he's just going to play you and the other owner (and who knows how many others) off against each other? I'd be furious.

mama - did your friend win the county court case? My understanding is that you can't until contracts are exchanged.

[nymphadora]

He is buy yo let so possible that he is buying two. Other situation is a chain which is worse than us.

I've been furious for ages but it's all in dh name so difficult for me to authorise anything. It's taken agesto get dh to this point. I've suggested trying the other EA for a couple of months then try letting again.

[mamatomany]

She didn't keep the deposit as per exchange of contracts she sued for her solicitors fees which were heading in the direction of being around the same.

[Unprune]

I was in the position of a sale dragging on and on and on. For some reason, I had the buyer's home number. Both of us had EA/solicitors who were honestly useless (hers more than mine).

Eventually I called her and said we would have to take the property off the market if nothing happened within the week. It was all done and dusted within a few days.

In retrospect I should have made more of a fuss about the fact that she delayed the sale so badly (or her solicitors did) that we missed the window for getting ds into a council nursery and then ended up paying out thousands in a year of nursery fees. I was really bloody cross about that. (Suspect not a legal issue though as nursery isn't compulsory or something.)

You (or your dh) just have to go above your EA. I got the impression mine were completely uninterested in expediting the sale, even after five bloody months of 'we're waiting for her solicitor to send us the documents we need....'

[nymphadora]

We have been. Our solicitor knows the other one and says usually they are v efficient.

According to the othe EA they have said they are too busy to complete until the New year. On our sale they are asking for guarantees for the guarantees

[nymphadora]

Gave them the deadline of today for proof that searches have been started & the money is available (askedthem to lodge it with their solicitor) EA still optimistic we aren't! Our solicitor v good but expecting to put it back up for sale on Monday

[nymphadora]

Didn't hear anything until I emailed EA mentioning other EA. She hadn't heard from the buyer/solicitor & couldn't contact either. They weren't having snow trouble so no excuse there. Our solicitor is having snow trouble so couldn't contact them.

Looks like starting again on monday