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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

AIBU to set exchange of contracts deadline for the purchasers from Hell ?

139 replies

AmandaJanePisces · 22/10/2015 18:50

Sorry can't be too specific about the tale of woe, but have discovered that the purchasers we chose as 'quickly procedable' have told various downright lies & are trying to gazunder us knowing that we need to relocate for FIL's health & have got new schools lined up for our DC etc.

Stress Angry

Has anyone done this (given the pathetic-ness of our EA) ? Did it work for you ? Our conveyancer thinks they're out of order.

Thanks for reading. Need Wine

OP posts:
PennyPants · 22/10/2015 22:12

Our buyers gave a date to their buyer (bottom of chain and yes their buyers were being twats and messing about for weeks), who promptly dropped out.
Luckily we found another buyer within a week and our sellers weren't in too much of a rush. It was a horrible situation.

Original poster
AmandaJanePisces · 22/10/2015 22:18

Glad it worked out Penny

Will throw my (considerable due to too much Wine & Cake weight around tomorrow & update if there's any response

Luckily our conveyancer is lovely, despite the EA being pathetic. No extra legal cost if we have to change purchasers.

OP posts:
Rdoo · 22/10/2015 22:21

Op, is they have their mortgage offer and searches I would be setting the exchange deadline much closer than the end of November. What exactly is the hold up, have they a related sale?

Original poster
AmandaJanePisces · 22/10/2015 22:31

No, they claimed to be moving out of rented, but the truth is they own the house they're living outright & they're planning to rent it out. If we'd known this at the start we'd have chosen one of the other full asking price offerers :(

OP posts:
Rdoo · 22/10/2015 22:37

They may need to arrange a BTL mortgage on their current property then.
Personally id give them a two week deadline or I'm putting it back on the market.
If you give a deadline you need to mean it though.
As someone said above if you

Collaborate · 23/10/2015 08:40

Get your EA to contact all of those who've offered the asking price and ask how soon they would be able to exchange if the property suddenly became available again.

Take that information to your current "buyers". Give them until the middle of next week to exchange, or else you'll go with whoever out of the others can demonstrate they are able and willing to move the quickest.

ghostyslovesheep · 23/10/2015 08:44

you can set a deadline - but you have to stick to it

I moved in August - I sold to a cash buyer who offered bellow the offers over price but wanted a quick move (6 weeks) - she then delayed everything and was a total idiot (saying she didn't want searched then deciding she did a week before exchange, not sorting out money in time etc)

we had 3 deadlines which she ignored - then wanted to exchange and complete on a Friday without notice (her solicitor rang mine to arrange it - I didn't even have a removal firm booked) and THEN demanded £500 compensation as we didn;t move within 6 weeks Hmm

some buyers are just twats

goshhhhhh · 23/10/2015 08:49

This happened to us (many years ago when dd was a baby & we were desperate to move). We ended up pulling out and putting our flat back on the market. It sold in a week for the asking price. If you are in a buoyant area I would consider cutting you losses.

albertcamus · 23/10/2015 08:50

My BF was outrageously gazundered (10k +) a week before exchange/completion when she was 38 weeks + 3. I went shopping for her, and included :

Milk powder (even though she was BF)
Glitter
Cress seeds
Frozen prawns
A very long darning needle

A bottle of virtual Wine to anyone who can explain each why she really loved my gift ??!!

Much more useful than a teddy at that stage Wink

christinarossetti · 23/10/2015 08:51

If they have searches back, survey done and mortgage offer in place, then the next step is negotiating a completion date, so that exchange can happen.

I would say that stipulating exchange by next Friday or the house goes back on the market would be more than fair in the circumstances.

You're in the driving seat here. They need your house more than you need to sell it to them. Make sure that they know this!

Good luck.

QuiteLikely5 · 23/10/2015 08:57

I wonder if they have failed to find a tenant for their current home so they are stalling as they need someone to pay the rent on it so they aren't paying two mortgages out.

Your estate agent should have been up to date on all this info as it can affect the sale.

Yyy to giving a deadline. You have nothing to lose. If they pull out do tell the school!

catlover97 · 23/10/2015 08:59

Ah this happened to us as well...we were in rented, selling another property in order to buy, we had a buyer in July who wanted to complete by the end of August. We duly gave notice to our landlord in August...the buyer delayed...then we pushed for a deadline (telling the buyer that we had to be out of our rented house) she then tried to massively gazunder us. We told her to FOTTFSOF (perfect opportunity to use that mumsnet phrase Halloween Grin) and we're now back in the property we own.

We have another buyer and hopefully they will realise given previous events not to try anything similar...

So I guess, give them a deadline but say it's because you're fed up of waiting rather than the reasons you've outlined (school places/FIL etc) because you're not opening up room for gazundering.

Original poster
AmandaJanePisces · 23/10/2015 09:00

Thanks all, sorry you've been through this cr@p too. Now have a headache from all the Wine medication.

Small update : just logged into email to see that EA is now saying that GazunderHusband rang her yesterday 'sounding under pressure'. My heart bleeds. We'll see what he's got to say for himself later.

We're giving them next Fri as exchange deadline or it goes back on market.

Am minded to ask more now to cover my new Wine bill !

DC have already made virtual friends in our new area & are trying on their new uniforms (sob) so might be forced to go with them, though. :( FIL needs us there too.

OP posts:
Original poster
AmandaJanePisces · 23/10/2015 09:08

QuiteLikeley : they weirdly wanted a copy of the Council Tax bill quite near the start, I supplied it, am now wondering if this was part of the scheming to get their girls into our lovely school, when they actually live in Roughsville 10 miles away ... How could I find out ?

OP posts:
Original poster
AmandaJanePisces · 23/10/2015 09:12

albert I'm loving most of it, but what was the needle for ?

OP posts:
albertcamus · 23/10/2015 09:16

It's a terrible shame when the rubber seals around double-glazed units develop hole & fail ... Whole unit mists up & needs replacing [thIsmile]

ProjectPerfect · 23/10/2015 09:17

You need to hit EA where it hurts - financially. So the convo goes "if the purchasers are not able to exchange by 20 November we will decline to progress with them. In the meantime we will be putting the house back in the market with your competitor agents". (This is obviously a stronger threat if you're at end if your exclusivity period, but works to a degree in any event because they will be reluctant to have to spend time re marketing a house they consider sold.)

Our last purchasers told me on the day of exchange that they were only prepared to proceed if I accepted an offer 50k less. I was 33 weeks pregnant with a proposed completion date at 37 weeks.

I told the EA that the purchasers had exactly two hours to get me the signed paperwork or I would not proceed with them on any terms. They did but it still makes me rage. They were newly weds and I wonder when I'm reminded by threads like this if had they gone on to have a family they ever felt embarrassed by their behavior.

Badders123 · 23/10/2015 09:20

Pull out and get your e to contact one of the tier prospective buyers.

Tarrarra · 23/10/2015 09:23

Hate to say it, but you have to be very hard nosed about it. Speak to the EA and say that you get the feeling that they are not serious buyers, and that you wish to remarket the property AND set a completion date.

We had a similar experience whilst buying, so I called their bluff and said that we were not prepared to play games and were pulling out. We exchanged that week.

Original poster
AmandaJanePisces · 23/10/2015 09:33

projectperfect that was awful for you! glad you stood your ground. These are the type we're dealing with too, I wouldn't put it past them.

If it wasn't for our DCs' new schools I would pull out from these 'purchasers' Bad. In fact, I'm already asking myself whether they deserve our house after all.

Why does the system allow this to happen ?
Why are some EAs such crap ?
How can people treat each other like this when DC & ill family are involved ?

Am now going to phone conveyancer and tell her they've got one week to exchange or we look elsewhere. As for EA, that would be the most undeserved £7k I've ever paid out too. So am telling self it's win/win : if GazunderCouple drop out we can dump IdiotEA too !

My lovely FIL was sobbing on phone yesterday as he's in a care home following his stroke & hates being in there ... But back in the day he'd have told us to stand up strong against this rubbish, bless him.

OP posts:
SocksRock · 23/10/2015 09:37

I would remind them that school places can be withdrawn if it is found they've made a fraudulent application using your address and unless they exchange by Friday you will be contacting the LA to say you are staying, and to explain that you suspect someone else has applied from your address.

eternalopt · 23/10/2015 09:48

Re the question about imposing a completion date as well, the completion date has to be specified in the contract, so will be agreed as part of the exchange of contracts

Madmog · 23/10/2015 09:53

If you've agreed a price with them, the only reason for reducing it in my mind would be due to something mentioned on the survey, which they may say they weren't aware of when putting in the offer.

You can't impose a completion date. I think I'd say you need to move by a certain date, so x y & z of a certain week would suit you. Does that suit them, or would they like it earlier?

Charlesroi · 23/10/2015 09:56

I'm curious to know what happens if you get your kids a school place based on an offer to buy, and then the sale - ahem - falls through?

Be careful OP. I smell a rodent.

oneowlgirl · 23/10/2015 09:57

Good luck Op as they sound horrible. I vote for standing your ground & id also contact the LA as so unfair if they've used your address.

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