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

[AmandaJanePisces]

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

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

She's equally disgusted at what's gone on & I'm sure will support our complaint. I've drafted our complaint to their directors now on the assumption that exchange will take place next Fri & will run it past her. Thanks :)

Omg Pilgit that was brave ! Well done

As far asim concerned, if contracts aren't exchanged the house is not sold and should still be on the market.

You have gazunders, Australia has gazumpers (if you don't exchange quickly someone else will and you lose the house).

It's business, tell the agent to remarket it if they don't exchange this week.

That's the plan, Aussiemum, I don't see why more people don't do it with this feeble system of ours in England, it encourages gazundering and gazumping ! Sensible that Scotland & Europe don't operate like this.

The thing is though that people only do it if you let them - it wasn't the EAs fault that you accepted £10k less as you could have said no then & put it back on the market. I'm not trying to be mean at all & really feel for your predicament but if everyone refused to accept people offering less at the last minute, it actually would stop happening.

I agree, owl there should be clear laws against gazundering. I wish we hadn't caved in, but the EA's uselessness was a contributory factor. So I'm demanding a vast discount from them.

I hope you get it but be wary as I'm sure that gets paid via solicitor when all monies are changing hands, so you might not be able to stop it - check with your solicitor & fingers crossed for you guys.

I really sympathise with you, but would not rely on getting a reduction in fees from EA.

I think you'd have more luck demanding the original offer from your purchasers than getting a discount from the agent. Just because you didn't sign the contract doesn't mean you don't have a contract.

So is a verbal contract binding then ?

It's not binding. A contract for the sale of land has to be in writing to be enforceable.

oneowlgirl the solicitor can only pay the EA if the client authorises it.

Good to know as I thought it all happened as standard as don't ever remember authorising that separately. Will the sale proceed if that's not authorised though?

The contract with the ea isn't for the sale of the land though, it's for professional services associated.

I honestly don't want to add to your angst, but given the way these buyers have behaved already - and that you're keen for the sale to go through because of the family - I'll be very surprised if they don't suddenly demand reduction on Friday

Just in case it happens, you might want to get all your ducks in a row for what you'll do next if it comes to this. When it happened to me I told them to go stuff themselves, but everyone's different of course ...

Hmmmm ... Thanks for the opinions, the EA did finally verbally admit that they had no copy of the Marketing Agreement & didn't argue when I told him that we would proceed with another agent if there is no exchange this Fri. However, I wouldn't put it past the slimeball to attempt to charge us even if we do end up selling through an alternative, thanks for the warnings.

This thread has cheered me so much, thanks to all of you for your input

Did you not simultaneously exchange on sale and purchase?

Hi all
Update : we took ours off the market with the EA due to all the messing around, so the Gazundering purchasers didn't get it after all.
It's now on @ 25k more with good local EA who has 3 viewings lined up already for this week.
Have identified rental place near DCs' new school for Jan, & informed the vendors of the house we're buying that we're probably looking at Feb exchange/completion @ the earliest now.
Stress but quite pleased we binned off the gazunderers.
Well done to others managing to pull it off.
Useless EAs and gazunderers should be sent to Room 101 !
Off to clean house. & hide everything (AGAIN !) :(

may it be far less stressful going forwards!

You also now know what the survey says so any offer you do accept I would ensure they are aware of the issues and that they take them into account IYSWIM.

Have you informed your local school that you suspect they were trying to fraudulently get a place by using your address?

That's on my to-do list this week red': will report back

Well done Op - fingers crossed.