Buyer won’t exchange until they rent their property

[Tryingtose]

Hello, we’re trying to sell an empty house and we’re approach by cash buyers, they haven’t been very forthcoming throughout and are now saying they won’t exchange until they find someone to rent their house. I feel that whether they have tenants in their property or not should not impact their ability to exchange and that they are taking the micky. I wondered what others think? Thanks

You accept this or you don't.

House buying in this country (assuming you're in England) is awful. You do not have to sell to them. But they can put any terms they want into play before exchange. You can walk away - as can they.

Did they say they were proceedable? Was that what attracted you to their offer? Because they're not proceedable are they.

Other than that, whats the rush?

Either they give a date for the exchange or the house goes back on the market.

The EA will sort this

I wouldn't take the house off the market until they are in a position to proceed, eg they have an offer on their house or a tenant moving in.
They don't sound like serious buyers at the moment so you still need to be on the market until you get an offer from a proceed-able buyer or these buyers are ready.

I assume your estate agent has told you this, or is this a private sale?

This

Are you ready to exchange?

unless their local area is a complete outlier they could find tenants tomorrow and then again the next day. This is a stall.

Never trust a cash buyer!

Number of times I’ve head of them being ready to complete in a week then it turns out they’ve got a mortgage or they need to sell something or they don’t have the funds ready to go. They’re a nightmare.

As a pp said, renting at the moment is super easy plus if they are an actual cash buyer then what happens with their current property is irrelevant as they should have a massive pile of cash waiting to be blown on your house! If they need funds from somewhere else then they’re not a proper cash buyer and are wasting your time.