House buyer MESSING me about - urgent advice needed

[Katiekitty]

Am selling a house, have got a buyer, who made an offer, we accepted, they promised a 4-6 week exchange, all was rosy. They pulled out in the 7th week only to then say that a relative of theirs, was then buying the house from us. Ok, so we proceeded with that, again with the verbal promise of a 4-6 week exchange. Surprise, surprise, this deadline has since passed and I have told my estate agent and lawyers that my patience has long expired.

I issued an ultimatum to the buyer, in that if they do not act and proceed with the sale (i.e. pay their 5% deposit and set an exhchange and completion date) that we are going joint/multi agency. They have not acted on this ultimatum. Now, this has happened...

The buyer is coming into the estate agents office for a meeting this afternoon (I an not present) and I am wondering if anyone can advise me on these questions:

If he does pay the 5% deposit, how legally binding is it? If he sets a completion date and stalls and misses it, where do I stand?

If he sets a competion date that is too far in the future, what can I do to make him complete sooner, after all, we knowcked off £20k on the spot for him based on the promised fast exchange. (I feel so stupid now)

Is there any way I can protect myself as he is really messing me about and the sheer stress and frustration is all too much.

Thank you in advance for your help.

It is being continuously marketed though, you aren't taking it off, just switching agents, surely? Unless you took it off for this shitty buyer?

Hope things work out for you - and don't forget with new agents THEY work for you, not for the buyer.

I think that even a gap of a day or two might be enough for a new agent to make you get a new HIP.
They take every opportunity to fleece you. God, I wish I could bring back the happy-go-lucky, non-cynical nice thing I used to be

Hi all, well I note most of these above go back in time. Currently am being messed about so much, have started to put flat back on market. My original buyers solicitor failed, for 4 weeks to read the information given, lied to both my solicitor and real estate agent. Went on holiday. When I asked outright if buyer genuine, got 'oh yes oh yes' will exchange tomorrow?????? Tomorrow has not arrived. Have just as writing this agreed to a contract race. I have had enough. Does this really have to happen these days?

Really feel for you. We are having an utter nightmare with our buyers/their solicitors. We have missed 3 completion days due to them not responding to proceed. I am at my witts end!!!

ZOMBIE 2008!

I have some regret about showing too much patience with a buyer who had both personal (messy divorce, setting up home with new man) and financial problems (problem selling her house) and problems with their solicitor - it was 8.5 months between us accepting an offer and completion. I instructed EA to put the property on the market again and this triggered completion.... all at the very last minute. A few months after they moved in she finds out he's been messing around with another woman and ha thrown him out - she has now had to resell the house - and they've agreed a sale at £40K above when we sold it for - frankly I expect there will be more of the same delays and problems I experienced for the new buyers - so you see - I think I should have put it back on the market - the EA always wants it to complete and will urge you to be patient. Waiting was a mistake.