Why are our buyers delaying?

[Duckstar]

Offer accepted on our house in May. It is lower then what we wanted, but our buyers are cash buyers (don't need mortgage, buy to let). They are not seasoned investors. First purchase. We also managed to offer on property and get a good deal. Our vendors accepted because of short chain.

Since then our buyers have delayed at every stage. 6 weeks to instruct solicitors for example.Apparently they are now deciding if they wish to get searches done! They are buying our house for 500k, who wouldn't spend a couple of hundred quid on searches?

Our vendors are now getting edgy and want completion asap.

We have chased why they are delaying. We get (through EA) that they apologise 100 percent committed. They then continue to delay.

Any ideas what might be going on? Why they are delaying?

My concern is if we say we are putting house back on market we will lose are purchase (which we probably have already paid 3k on because of sols fees etc). Our vendors need to move quick as they need to relocate.

Sorry to hear that. I agree it might be the funding. We were in a chain where our buyer had was under offer to a supposed cash buyer. Yes, their buyer had the funds to buy the house outright if they wished to, but decided that they wished to sell one of their properties on a golf course in Spain to fund the purchase, rather than use their cash! Delayed everything considerably.

Thanks everyone. We are still waiting to hear if our vendors will wait fod us to get another buyer. I imagine they will put back on market, but say if we can a buyer quicker then will accept our offer.

I'm a firm believer that these sort of things that occur during conveyancing generally turn out for the best.
If you've lost this buyer, the next one will offer more, if you've lost the house you want, a better one will come up for you.
Good luck