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Original poster

I finally have an offer on the house but I think the buyer is taking the piss? Is he? What should I do?

70 replies

Namechanger2015 · 24/01/2018 22:37

I am selling my house as a consequence of divorce, I don't live in the house anymore and really want it sold as its preventing me from buying somewhere myself. Its a hugely acrimonious divorce, ex and I don't speak and I am dealing with the sale mostly myself.

A buyer has placed an offer today, at a decent price.

However he is yet to sell his house, and has told the estate agent he will sell via them if we accept his offer and also place a lock-down agreement on my house - that is, we accept the offer and take the property off the market indefinitely until he can sell and complete on his house.

Estate agent is confident they can sell his house quickly, desirable location etc etc. But if I enter this agreement it means I have to wait for him to sell up and can't accept further viewings on my house.

I can't see any benefit for me, however the house has been viewed lots and no offers so far.

I haven't sold a house by myself this was before, ex is offering no viewpoint whatsoever so I am not sure if I am thinking correctly about this or not? What should I do?

OP posts:

Monkeypuzzle32 · 26/02/2018 12:35

Taking it off the market is the done thing once he's arranged his valuation/survey etc, that's what I've always done.

Original poster

Namechanger2015 · 26/02/2018 12:37

Could you do the same? Give them a month and then put it back in the market?

No, I want the house sold asap, as I need to buy asap and really don't want to hold back for a month. The sole agency agreement ends on Weds and so I would rather go to multiagency than hold on for a buyer who is not ready to proceed.

If you think he might mess you around, you could say you'll put it back on if the survey isn't booked by x date, but he sounds keen to move on. If you're having doubts about him as a buyer though, you can turn the offer down. It's allowed.

I don't know if he is being difficult or my lack of experience in this is showing. I want to sell it asap and the price is good so I think I would accept. I lack confidence as I haven't sold a house on my own before, exH did that last time and this time its down to me to make the decisions.

I think I will accept the offer, but will state that the house will only come off the market after the survey is done and buyer is ready to proceed. I am assuming he will need to get his mortgage approved etc which will take a while still, or should he already have this sorted?

OP posts:

Original poster

Namechanger2015 · 26/02/2018 12:43

Taking it off the market is the done thing once he's arranged his valuation/survey etc, that's what I've always done

Ok great, so he is being quite normal in his request then! Is it just a survey he would need done? Is that the same as the valuation?

(I am embarrassed at my lack of knowledge!)

OP posts:

Frombothsidesnow · 26/02/2018 12:48

It is all quite normal, but I think he's made you nervous with his previous rather unreasonable requests. (I'm still at the dry cleaning nonsense.)

He should have a mortgage in principle already, and you should already know that because your agents should have checked that out, but it will be reliant on their valuation matching what he is prepared to pay you. Sometimes valuations come in lower and the lender won't lend the full amount, at which point he will have to come back to you and try to negotiate a lower price. This is unusual unless your house has major issues or you have priced it completely unrealistically.

The survey is usually also the valuation but doesn't have to be. There are various levels of survey and some people commission an independent one as well as the (mandatory) mortgage one.

tattychicken · 26/02/2018 12:53

It's quite convenient for the EA that this offer has come in just days before you were due to switch agents. I would deffo insist on survey and proof of mortgage/funds before taking it off the market. Some estate agents lie, and they could just be trying to buy themselves more time and hang on to your business.

SoTotallyOverThis · 26/02/2018 12:57

I’ve always asked for a house I’m buying to be taken off market once I’ve instructed my solicitor for surveys etc. Once I was paying out money (often a lot of money) to move forward then I wanted to have some measure of trust that the seller wasn’t going to try gazumping me. So what he’s now asking for sounds normal to me.

Just to give you some insight from the other side, we were half way through the process and had spent probably about £1000 on legal and other fees when i discovered the seller was still taking viewings as they wanted to be sure that they would definitely sell (it might have been a divorce type situation in retrospect) and that we were serious. I was so angry as I’d got everything in order (mortgage in principle, lawyers tees up and instructed immediately to move ahead, had been engaged with estate agents throughout etc) and literally had demonstrated id done everything to show we were serious. The only reason we hadn’t completed was due to the normal solicitor delays and reports take time to come through etc etc. I told the estate agent that if they didn’t take it off the market that day id pull out as I felt we’d done everything to demonstrate we were commited buyers yet she was still inviting people over to look around. I understood she felt vulnerable but so did we and those monies on fees were a lot to us and I guess at some point you need to trust the other side.

Sounds like your buyer is serious - hope it all works out.

Original poster

Namechanger2015 · 26/02/2018 13:18

It is all quite normal, but I think he's made you nervous with his previous rather unreasonable requests. (I'm still hmm at the dry cleaning nonsense.)

I think this is exactly right! I want to sell, and I don't mind selling to him but trying to preempt any crazy demands or delays from him. He has been asking if there is permission to cut down trees in the garden etc, which I guess I can bat to the solicitors to deal with.

I understood she felt vulnerable but so did we and those monies on fees were a lot to us and I guess at some point you need to trust the other side.

I don't want to mess him about or keep entertaining offers, so perhaps I need to just take the leap with this guy.

Do surveys tend to happen fairly quickly?

OP posts:

Original poster

Namechanger2015 · 26/02/2018 13:18

SoTotallyOverThis - your situation sounds like a nightmare, very unfair of your EA to do this.

OP posts:

GrandmaConnie · 26/02/2018 13:28

Tough time for you and sadly your EA isn’t on your side. You can’t drop them without possibly incurring fees as they have introduced a buyer. Well, a kind of buyer!

I agree with others. If he’s giving you a bad feeling, listen to your feelings. I’ve never heard of a lockdown. Only a non refundable deposit secured the purchase. It will happen but probably not with this chancer!

Original poster

Namechanger2015 · 26/02/2018 13:40

I have heard back from my EA:

My buyer has sold his flat (accepted an offer from someone with mortgage in place who is looking to move in quickly because of a long commute)

My buyer has shown evidence of funds, he had a mortgage in principle from last year which has expired as he never found a property and he has a financial advisor he has used for house sales/purchases since 2009, and who will be providing updated mortgage in principle info tomorrow if the offer is accepted.

So I have a much better feeling about lockdown guy now, it sounds like he is serious and good to go.

OP posts:

ElsieMc · 26/02/2018 13:49

Why are the agents entertaining this? He does not have the money to buy your house. How do they know they will sell his house quickly? The answer is they don't.

I worked for an EA/Solicitors for many years and this is not an offer at all. You cannot make an offer for a house if you are not proceedable.

He can place a registration of interest and he can come back to you when he sells. Keep marketing the house and tell your estate agents to pull their socks up.

ElsieMc · 26/02/2018 13:51

Just seen your update op. That is a remarkably quick turn around.

RandomMess · 26/02/2018 13:54

You can set deadlines for him to get the survey done and a week to evidence his mortgage in principle that sort of thing. He clearly does want your property and was hopeful of getting it at a good price as would anyone!

The market is very uncertain in many places at the moment.

Original poster

Namechanger2015 · 26/02/2018 14:18

You can set deadlines for him to get the survey done and a week to evidence his mortgage in principle that sort of thing

He has a financial advisor who has cleared some time to get the mortgage in principle paperwork over to me tomorrow.

Survey should be booked in a couple of weeks according to the EA.

I have accepted the offer, and I suppose I can back out if it doesn't proceed to my liking. I did make it clear that the property will be sold as seen with no additional work/cleaning carried out.

Buyer has not been viewing any other properties and is v keen to buy this one apparently.

I am trying to keep calm.

OP posts:

RandomMess · 26/02/2018 14:23

You can back out if he isn't pushing the purchase through. Until you exchange there is nothing legally to make the sale happen.

Be aware of the tactic some buyers use of lowering their offer the day or two before completion. Gazundering!

OlennasWimple · 26/02/2018 14:26

Fingers crossed it all works out OP

The system we have for buying and selling houses in England is ridiculous, isn't it?

ForgivenessIsDivine · 26/02/2018 14:36

Tell your estate agent to keep things moving and not to pass on any negotiations to reduce the price or expectations regarding the property that will be dealt through the solicitors.

Original poster

Namechanger2015 · 26/02/2018 20:35

The EA replied pretty quickly and said my buyer is happy and has instructed solicitors, and has actually managed to get his IFA to do his mortgage in principle today, so we now have that in the bag.

Person buying their flat is also full steam ahead - he has a solicitor for the sale sorted and has mortgage in principle and proof of funds etc. I have a solicitor too, and coincidentally it is the same one as my buyers buyer. So hopefully that will all help to move things along quicker perhaps, as there are only 2 solicitors involved and not 3.

The only spanner in the works has been today exH written me an email saying he wants me to sell the house to him instead, for the sake of the children who he hardly ever sees and doesn't give a shit about. I thought he had accepted it would be sold as the proposal was his in the first place, and signed estate agent agreement, and has been facilitating viewings, kept in the loop with all proceedings etc etc. But he was an abusive arse and always pulls stunts like this. So I am hoping he is a hiccup and nothing more, seeing as the courts ordered a sale and we now have a buyer in place.

Overall I am pretty happy that this was a good move to accept the offer.

The system we have for buying and selling houses in England is ridiculous, isn't it? Yes! So slow and convoluted!

Be aware of the tactic some buyers use of lowering their offer the day or two before completion. Gazundering! Good grief, he had better not try that!

OP posts:

another20 · 26/02/2018 21:38

If he has his MIP - he can then get the survey booked immediately. The actual survey won’t happen instantly but the date should be in the diary ASAP (he would have to pay a survey fee - so showing commitment).

Original poster

Namechanger2015 · 26/02/2018 22:01

Yes EA confirmed that he will be booking in the survey ASAP.

OP posts:

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