Page 7 | Hate our house buyers

user1468749801 · 2021-02-11T02:47:41+00:00

We panicked and took £10k less for our house than we paid for it two years ago and our buyers continue to drag their heals despite us asking for an early exchange. We would pull out as the house is worth more, however turns our the buyers are the owners of the neighbourhood restaurant close by and really popular. So do we just go through with the sale or risk being snubbed by our whole neighbourhood...and not being able to go to the single decent restaurant in our village.

PeachyPeachTrees · 12/02/2021 20:23

The deal was 'ok I'll take £10K less for quick sale'. They are not keeping up their end of the deal. Either agree a competion date that's soon or tell them you're pulling out. They can't have it both ways. The restaurant thing is wierd, if anyone asks just say what happened.

mellicauli · 12/02/2021 20:35

Everyone hates their buyers. It's a stressful situation and a lot of it is out of your control.

We were in the same situation as you at one point: we were so frustrated by it we contacted the buyers directly.

When we talked to her, it didn't seem that the fact we were in a hurry and the reason we were in a hurry hadn't been passed on.

Could you could talk to them directly, explain why you are in a hurry and find out what the delay is?

beautifullybonkers · 12/02/2021 20:37

If you’re moving out of the area anyway do you really care what the restaurant owners or neighbours think? Pull out, sell your house to someone else, you’ll have moved before their restaurant reopens anyway and you can find a new restaurant near your new home.

Lemmeout · 12/02/2021 20:38

YANU to give a shit. Unless you are waiting to move into a palace, I would pull out,

CatAndHisKit · 12/02/2021 20:53

Cotton but surely they should be straight and not waste OP's time further? I also suspect that my buyer (cash investor) was good on paper but is having problens with arranging his finance - I would much rather he just said so so I can find another one, but he's dragging his heels and keep saying he's buying. I obviously don't watn to lose an existing buyer but it can all come to nothing because the systen is ridiculous that offers are not signed / not binding.

CottonHeadedNinyMuggins · 12/02/2021 21:03

@CatAndHisKit

Cotton but surely they should be straight and not waste OP's time further? I also suspect that my buyer (cash investor) was good on paper but is having problens with arranging his finance - I would much rather he just said so so I can find another one, but he's dragging his heels and keep saying he's buying. I obviously don't watn to lose an existing buyer but it can all come to nothing because the systen is ridiculous that offers are not signed / not binding.

I don't disagree with you in the slightest. They're perhaps waiting for a bail out or to see if anything changes or when they can reopen etc.

It's a pain in the arse and in an ideal world people would be straight and upfront about everything!

CatAndHisKit · 12/02/2021 21:11

Cotton in an ideal world generally - yes, but the system must be changed by regulators! It's just beyond stressful and fimancially ruinous for some.
In the US you can't withdraw beyond about two weeks, they have to commit to an offer and that's about the max length of time they haev before then. Even Scotish system is better with surveys already there done by sellers so buyers know hwat they are buying and wuold hae no excuses once they've offered.

robusttoday · 12/02/2021 21:37

I had a similar situation a couple of yrs ago. I worried about pulling out, and didn't like to do it, but in my gut I just knew something was wrong. I pulled out and then got a much better buyer within a week, who paid what the house was really worth. ( quids in ) ( what would Jackie Weaver do ??!!

threatmatrix · 12/02/2021 21:48

This is what they are relying on. Tell them to feck off.

Celestine70 · 13/02/2021 00:29

I would pull out, who cares what people think. I'm sure they are not as popular as you think.

pam290358 · 13/02/2021 09:51

Dont be daft. Contact your solicitor and convey that you’re not happy with the delay - suggest a reasonable completion date and ask your solicitor to politely remind them that you’re navigating your own purchase as well as selling. If they’re dragging their feet expecting further reductions then your legal team needs to convey firmly that you’re quite prepared to pull out if the agreed price is not met.

KimchiLaLa · 13/02/2021 10:27

OP you sound like someone who will make a drama out of something small. Just pull out. We have a lot of popular restaurants around here, no one is best friends with the owners.

Chimeraforce · 13/02/2021 10:47

Pull out.
Restaurant owners? Not in the best financial position.

justasking111 · 13/02/2021 12:33

Okay friend is a restaurant owner, suddenly his mortgage advisor has admitted there's a problem because of his books the last twelve months. Not his fault but lenders are jittery

Hankunamatata · 13/02/2021 13:47

Tell them the for sale sign stays up until you exchange

Abitofalark · 13/02/2021 14:10

@Dogsarehairy

You may (will) have to pay the state agent if you drop out with a proceedable buyer- how much is that and your legal fees so far?

Leaving aside the fact that the potential buyer hasn't proceeded, estate agents don't get paid unless there is an actual sale. Who do you think would sign up to an estate agent who demanded otherwise? And which estate agent do you know of, who does this?

Dogsarehairy · 13/02/2021 16:10

Leaving aside the fact that the potential buyer hasn't proceeded, estate agents don't get paid unless there is an actual sale. Who do you think would sign up to an estate agent who demanded otherwise? And which estate agent do you know of, who does this?

All estate agents
If they get a sale and you then withdraw your house from sale you have to pay them. Its is standard.
There is a sale- the OP wants to withdraw from it.

2018- from the guardian
It is normal to be charged to cover the costs – such as advertising – that an agent has already incurred. And it is also normal to have to pay some or all of the estate agent’s commission but only if the contract you signed contained a “ready, willing and able purchaser” clause. What this means is that you still have to pay the agent for finding a buyer even if your situation changes and you have to withdraw from the sale.