Our buyer (via EA) is threatening to pull out if we dont exchange before xmas although he is ok to set the completion date 2-3 months in the future. They have been waiting patiently for 4months while our previously vendor sold his house to someone else so I have been searching for another property. Now that I have found a place and my offered accepted this week and ready to get the ball rolling, the buyer still insists on exchange pre-xmas. Spoke to my solicitor who hasn't heard anything from their end regarding this request.
The fact that it will take 2-3 months to complete the process on my new house - mortgage, survey etc and it should be ok to hit the preset completion date but this is a risk we can't take because we have a young family, def want to avoid moving into rental and move twice. Effectively, the buyer wants the security because he is renting and his contract ends this month. But regardless of exchanging this month or not, he still has to sort out his accommodation. This only benefits him while putting alot of risk on my side. So we firmly said No. We rather lose the buyer and the new house than to go down this route.
This has always been communicated via the agent. Initially I thought he is playing us and pushing to exchange to get his comm before xmas. Our solicitor thinks the EA is making things up because he would have def heard something from the buyer's solicitor for this sort of request.
Am I doing the right thing here? Is EA just being a AH?
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Buyer is pushing for exchange before xmas but we are not yet ready!!!
11 replies
Hong888 · 12/12/2014 14:53
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