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Should I put back on the market?

3 replies

Confusedcabbage · 30/12/2020 12:53

Please help! I really don't know what the right thing to do is...

We had the plan to sell our London house, rent for a year, and then move out to the countryside when prices had dropped a bit. But now the plan is not looking as solid!

Accepted offer in August, issues with the buyer selling their own place. They accepted an offer but in the process found the land registry name doesn't match up to the leasehold deeds and their buyer wants it sorted. Prices have gone up in the local area since then and keep seeing news stories about how much they've gone up by in the country. House went for over £600k so even a small % makes a big difference. It wouldn't matter if we'd locked in another house but we haven't due to the renting plan.

My estate agent keeps telling me it's going to be sorted but still no exchange or completion date and I'm wondering now whether should just call it off and put it back on the market.

What would you do?

OP posts:
CeibaTree · 30/12/2020 13:10

Don't call things off as such, but put it back on the market, and it might motivate your buyers to get this issue sorted asap.

Pipandmum · 30/12/2020 13:19

I'd tell the buyers that its going back on January 4, and they are still first in line if they can get things sorted.
I'm not sure prices are going to drop - steady or slight increase in my opinion (and I've just sold a flat and have my own house on the market as I want to move back to London).

Shoxfordian · 30/12/2020 13:20

Tell your buyers you want to exchange by end of Jan or if not it’s going back on the market

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