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Buyer's Funds/cash buyer - any thoughts?

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House2home21 · 30/04/2021 17:13

Hi so we're in the final throes and have been hoping to exchange for the past two Fridays but TNA.

Our buyer is a cash buyer which we've been told he's finaced via selling part of a business he's a partner in. EA and Sols have supposedly seen PoF. However, now he needs money it seems to be very tricky to get hold of. We were told it was taking a while to draw down as it's coming from an investment account??

This was at the beg of last week, we got a message yesterday from the EA telling us that the buyer wanted to let us know the funds have now been 'released' and should be in his acc today (as in yest) or tomorrow (as in today). Werdly we bumped into him today as he lives local currently, he apologised briefly and seemed very excited still but said he still hadn't recieved the money and was checking his phone evey 10 mins.

Our sol called his just now and they said they haven't received the funds and hadn't had any comms from the buyer to say he had.

Should we be starting to feel nervous, does this seem dodgy to you, why is it all taking so long, we have our own ltd company and move large amounts of money regularly and we've never encountered anything as complicated as this.

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