WIBU to re-list our house?

[Wob]

We accepted an offer on our house back in April. It was ~5% below asking price but we accepted that offer because they were chain-free, had a high deposit and were described as very proceedable.

Now, over three months later, they still haven’t booked a survey nor said they aren’t intending to do one (it’s a character property so would be unwise of them not to do one, even though we obviously know the property is fine). They never booked a second viewing and they haven’t done anything to indicate they’re actually committed to buying the property.

We asked our agent to check in but the agent couldn’t get hold of them so was just communicating with their solicitor (who was saying that, as far as they were aware, the buyer was committed). The agent eventually contacted the buyer directly two weeks ago and they said they were on holiday (not sure why that prevents them from confirming whether or not they want a survey). For the house we’re purchasing, the lead time between booking the survey and it taking place was over a month so it’s really going to add a lot of time.

As far as we’re concerned, there are only two reasons why they’d be doing this:

1. They aren’t committed to the purchase


2. They’re intentionally delaying despite being presented as proceedable and hoping to exchange/complete ASAP.

Should we re-list at this point?

Thanks.

They may have been able to get their mortgage approved without a visit to the property for the survey because, especially if they have a high deposit, a mortgage survey doesn’t always require a face-to-face inspection. However, it would be really bloody stupid to purchase a character property and rely entirely on the mortgage survey - and if that’s the intention of the buyer then I don’t understand why they wouldn’t just say that.

There’s nothing that we would accept them trying to knock money off for. We purchased less than two years ago, have fully renovated throughout (new kitchen, new bathroom, new windows etc) and addressed every point on the survey we had completed when we purchased.

Perhaps they have an eye on another property and are stalling for time? Either way I'd communicate to their solicitors that whilst they have until x date (short period of time) to get the ball rolling and demonstrate mortgage in place etc, that you will in any event be immediately relisting the property today. This will hopefully force them to show their hand (either get on with it or walk away).

I’d relist it - it sounds like they’re nowhere near as proceedable as they alluded to.

someone who wanted to buy my MIL’s house tried to do this. They were in “no need of a mortgage” and “weren’t selling their own house”. For some reason it just pinged MIL’s radar and she discovered that they did need the completion of a probate sale for their deposit.

I would resist it but now is a really bad time to do that so either ask EA's to go back to others who viewed to see if any are still interested or hold off re marketing until 1st September. You could make it really clear to the EA that they need to progress the sale to whatever state you think is reasonably by the 1st and if not make it clear to the buyers it will be remarketed then.

I would relist. It took 12 months from when we first sold our house to actually moving because buyers (3 in total).
The first ended up finding another property because top of our chain were taking too long to find. The second accepted a job up north (whilst having an offer accepted on our house?!). The third did buy it, but 1 week before exchange had to get LISA money, which their mortgage consultant hadn't applied for, which then took another 2-3 weeks to come through.

Re; the mortgage valuation, on the house we bought (1953) they didn't even go into the property, just came up with a valuation. We also didn't get a survey done, even though we knew the house had been underpinned.

But, if nothing has been done since April I would say they're not serious or there is some other reason they're stalling.
Your solicitor, who you are paying, should be speaking to their solicitor and asking for an update, a more comprehensive one, and asking if searches have been applied for etc.

The estate agent, who you are also paying, should be speaking to the buyer and asking if there is a mortgage involved, and if there is they should have known (before the viewing!) who it's with and getting proof the buyer can afford to buy your home!
The above two should be working for you, you are their client and you are paying them, so I would get onto them and tell them you want updated or the house is relisted in 24 hours. And tell the estate agent it won't be relisted with them!

So have they got their mortgage in place?