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Original poster

Fear house sale will fall thro

24 replies

something2say · 27/09/2019 16:33

I know there’s nothing anyone can do to help, but I just need a rant please…

So I put my flat up for sale in March. A buyer came along, stupid low offer. Eventually agreed a price I’d accept.

Then he applied for mortgages – first one, he said they down valued it. Went for a second and he said they down valued it, but to a lesser degree. Estate agent said he never returns their calls and they’re not sure he is serious, so they asked him to prove the down valuation and he could not.

So he lied. So I pulled out and said, back to market. Estate agent said, oh now he’s paid for his searches and he will pay the price you agreed on. But I privately thought, well he lied….

Months later and all the paperwork is done, the lease extension that I am paying for is thrown in for him, he has nothing to do but sign. We were ready at the beginning of Sept.

Then when estate agents tried to chase him, he was away on holiday.
Then he got back and told them to stop pushing him and he’d want the weekend to think.
Then all that week we just waited.
Then he said, I will tell you on Friday or Monday if I am going to go ahead. Friday came and went.
Monday just gone, late in the day he emailed that he is uncomfortable because prices are going to drop and he could get more for less in a nearby town (so I looked and it’s £100k more ish.)
Then Tuesday this week he said, I am going to exchange next week and complete the week after.
Then he said, I’ve had my contract and if the mortgage money doesn’t come, I will lose my deposit; let me check with solicitor.
Solicitor said it would be fine, the offer is in place.

And nothing since!!!

I know Brexit, slow market at the moment etc. Of course I know.

Meanwhile, I rent in Somerset and have a lovely life and job here. My fiancé has JUST moved down. I’ve had to pay October’s mortgage, eating into my savings.

And if he doesn’t exchange and complete, we have to go back and start again.

Tbh I’ve had to prepare myself for that eventuality, as to simply not get back to either solicitor or the estate agents indicates something is amiss.

The waiting and disappointment is so difficult to deal with.

OP posts:

Bluntness100 · 27/09/2019 16:39

Is he a first time buyer? Sounds like he's got cold feet.

westcountrychicken · 27/09/2019 16:45

Just remarked it and if he comes through, fine, if not no problems. We always ask that houses are marketed until exchange.

Original poster

something2say · 27/09/2019 16:49

He is not a first time buyer no. He sold his last flat and is staying with family.

I will remarket it yes, aggressively!

But I have to go back and live in it and get a new job back there in order to pay for it. And I am settled here with a lovely friend group too.

But it won't be long I suppose and at least I get to live with my fiancé so there is that...

I am being ridiculous I know. half of me thinks, get used to the idea that it will fall through so that you are not too shocked and upset. OR - thinking that way will jinx it. BUT I know that nothing I do or don't do will make a difference - I am just in limbo! For weeks on end!!!

Don't you think it's mean of him? The agent wrote on Weds saying that the seller (me) is getting very worried and needs to know your intentions. He didn't respond at all.

OP posts:

Original poster

something2say · 27/09/2019 17:26

I've found the potential buyer on facebook. I decided to look up his name and he lives nearby... Maybe he is doing due diligence on buying another property? But then why spend the money on the conveyancing for this one?? I won't write to him, but I'd love to. I just need to know what he is going to do. :(

OP posts:

Els1e · 27/09/2019 21:09

I would definitely be changing estate agents and putting it back on the market. Trust your own instincts.

Comefromaway · 27/09/2019 21:15

The estate agent is negligent.

The one representing my vendors asked to see a copy of my mortgage agreement in principal, proof of deposit and ID as soon as I made an offer.

My potential buyers have had their mortgage in principal agreed with the estate agents financial advisors and if I accept (they need to sell before I take it off the market) then they will have to prove they have the means.

Maydayredalert · 27/09/2019 21:22

Back in the market first thing Monday O/P for 5k more than he's paying. If you don't have at least a few viewings booked in by the end of the week, I'll eat my hat and if he is even in the slightest but serious (doubtful tbh) then maybe the new interest will spark him into pulling his finger out.

Speaking from experience these time wasters respond to nothing but decisive action.

Original poster

something2say · 28/09/2019 08:40

Thank you.

It has been taken off for now, as he used that against us, but if we have not heard about exchange by Tuesday, the 1st Oct, he is getting an ultimatum from my solicitor via his.

Meanwhile I've been in touch with Vevo and have looked at Purple Bricks....

Thankyou. I actually find the weekends tolerable because there is factually nothing that can be done....

OP posts:

AllOrNothin · 28/09/2019 08:55

Put back on the market, I agree. Same price as before. Be careful with Purple Bricks though, it'll put off some buyers, go for a reputable local agency.

Berthatydfil · 28/09/2019 08:59

Your estate agent acts for you - the fact he has spent money on surveys etc is irrelevant it’s part and parcel of the house buying process in the uk.
The EA is negligent. Tell them to put it back on the market at original price, if buyer wants to proceed he can but to market it aggressively until he commits.

Original poster

something2say · 28/09/2019 09:21

Why would Purple Bricks put people off may I ask??

OP posts:

DontCallMeShitley · 28/09/2019 17:26

I don't even look at Purple Bricks, their website is a joke for a start, and, well, just do a search for their other failings. Amateur, incompetent for a start.

justtryingtogeton · 28/09/2019 17:50

Re purple bricks

(I am a mortgage broker)

In my experience it's due to dealing with the vendor directly for offers and viewings, their sales support is minimal and many traditional agents won't have them in their chains due to lack of sales progression and communication.

If you want a quick sale, then use an agent that has sold more in the area, you can see on Rightmove who is popular.

If a client calls for a viewing on one property a decent agent will show them a few properties, and genuinely sell what they have, not just rely on the phone ringing or an internet enquiry.

Also don't worry too much about an agent fee, there's lots of ways to market a property, and from what I have seen an agent will usually sell your property for more, incorporating their fee.

I know many people have different experiences, this is mine in my locality.

Puzzledandpissedoff · 28/09/2019 18:19

They asked him to prove the down valuation and he could not ... I pulled out and said, back to market. Estate agent said, oh now he’s paid for his searches and he will pay the price you agreed on

Unfortunately, the mistake was in not remarketing the place there and then; it rarely ends well with buyers this flaky, and even if he proceeds to exchange he'll almost certainly demand £10,000 off on the day

Just put it back on the market ...

PurpleCrazyHorse · 28/09/2019 19:47

Get it back on the market ASAP and move estate agents. They really do vary greatly (having viewed loads of houses!). We had to have our mortgage agreed in principle before we could make offers, we didn't mind as we were serious buyers.

We also pulled out after paying for all the searches on a house and a defects survey. It picked up a few things but I just didn't get convincing answers from the guy selling so we pulled out. Cost us a fair few hundred and a good chunk of time but better than spending hundreds of thousands on a house. We got a discount with our surveyor on the next lot of surveys!

Comefromaway · 28/09/2019 21:03

If a client calls for a viewing on one property a decent agent will show them a few properties, and genuinely sell what they have, not just rely on the phone ringing or an internet enquiry.

This. The day the estate agent came to do the photos he told me he had two couples on their books who were looking for a house like mine in my area.

He phoned them the next day. Both wanted to view. Within 24 hours I had an offer.

Original poster

something2say · 01/10/2019 14:11

I've had to pull out, or at least say I am...
He reckons his deposit money is tied up in shares now. So I pulled out.
Then suddenly he has sold those shares and the money is due in 1 to 2 weeks now.
I'm staying pulled out.

Nothing further from him. Why would he do this? He paid for searches and his solicitor so he has wasted his money...

I'm not sure I can use Purple Bricks then as I dont live in the property anymore, I live 2.5 hrs away.

I'm so upset. I'm settled here, we have jobs, people rely on us.

OP posts:

PullingMySocksUp · 01/10/2019 14:15

Purple bricks can do viewings, well when we investigated them in February they could. Might be area dependent.
I don’t see that their website would matter, doesn’t everyone use Rightmove?

We didn’t use them in the end as the woman wasn’t very enthusiastic about the house, but thought I’d share.

Puzzledandpissedoff · 01/10/2019 16:27

He reckons his deposit money is tied up in shares now. So I pulled out
Then suddenly he has sold those shares and the money is due in 1 to 2 weeks now
I'm staying pulled out

You've done the right thing, OP. The estate agents won't like it, but realistically you had no choice, and as I said, someone like this would almost certainly have tried to sting you for a huge discount on exchange day anyway

There's no knowing why he's behaving so stupidly, but as for what he's already paid the solicitors ... maybe they're a mate?

sniffsneeze · 01/10/2019 16:38

Could you rent it out instead?

glitterlamp · 01/10/2019 16:42

Deposit money tied up in shares? Surely he's have already provided proof of available funds to his solicitor! I'd say remarket and if he has the funds in 2 weeks and you're still on the market he can then exchange.

Original poster

something2say · 01/10/2019 17:05

I'm going out of my mind with worry.
I increased the lease which has taken up all of my savings.
Now PB want £1800 upfront. Then I have nothing left.
Then I am potentially paying rent down here AND mortgage up there.

BUT a new buyer could come along.
But equally they could not.

The simplest answer would be to hand in notice up here and just go back there. Living together with fiancé means we share costs and we could just stay as long as it takes.
I may have to accept that don't you think.
How long could I last down here, counting on a sale to happen with someone else?

Like you say, he could exchange out of the blue. No one has heard from anyone today. I wonder if he is worried? I wonder if he ever really wanted it. I can't believe he strung me along all this time with no intention of going through with it.

I had it on rent but tenants need 2 months notice or can't exchange, in case they refuse to leave and squat instead. Then it can't be sold so can't even exchange. So yes I could get a tenant in it, but that would mean a) different mortgage, higher costs to me and b_) 2 months empty at the end anyway, which late exchange would put off a buyer.

Thank you for chatting to me, letting me vent. I'm absolutely gutted.

OP posts:

Hecateh · 01/10/2019 18:03

I had one like that, started messing me around and I wanted to pull out but Estate Agents persuaded me otherwise, lost another month before he pulled out the day we were supposed to be exchanging. Estate Agents definitely lost out because I changed agents as that was the second buyer that had dropped out.

I have got a great buyer lined up now and we are all pushing keep things moving. Nothing happens unless we both push and push the solicitors - both sets of whom are totally pathetic.

Original poster

something2say · 01/10/2019 18:07

Ah what, two people have pulled out?! I'm sorry to hear that.
BUT you have a fish on the line! And yes pushing does need to happen.
Luckily my solicitor is excellent. Albeit expensive.

We are veering towards going home and waiting out Brexit. I've had a chat with another estate agent who has said Brexit is really cocking things up and if there is a hard out, the market will fall but then recover. So if we both live in my flat and keep it safe together, we can weather the storm and hopefully come out the other side.

Good luck to you, when do you hope to exchange at least? Are you moving far?

OP posts:

Flip