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Seller demanding cash as completion delayed

104 replies

Housebuyer2020 · 08/02/2021 18:39

We are in the process of buying a property..We the offered in mid October abs we had our mortgage by Mid November, I have been very proactive calling agents solicitors weekly to keep things on track.. searches sent out in December. Both party’s solicitors gave been slow.. and the vendors management company only sent out the pack in early January.I have been pushing for a fast completion and I was given the date for tomorrow. We asked the vendors if we could vidyut property before completion, they refused, so we asked for a video. Anyways I called solicitor this morning asking about completion for tomorrow. She turns around abs says the money hasn’t been released and the completion will be on 25 th of February... i was fuming but nothing I can do. The vendor,is also fuming and ha asked us to pay him £1000 or he is going to put it back on the market.. we reluctantly agreed, ( as he has done this to another seller before we put our offer in) now I’m concerned if there are any more set backs he will keep asking for money. I’m trying to get the exchange done tomorrow, it still worried can he pull out even after exchange??? Arrgghh so angry

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CherryDocsInYrBalls · 08/02/2021 18:44

Paying him £1000 for what? 4 months from offer to completion is fast. My chain took 7 months and there were only 3 of us, all of us were pushing solicitors but getting paperwork was like trying to turn the Titanic. Don't give the vendor any money and let the solicitors finish the job

PresentingPercy · 08/02/2021 18:44

You actually paid him!!! How would he get another buyer to complete more quickly? No one could complete more quickly. His agent would not advise him to pull out nor his solicitor. Sit tight. It’s the way it goes.

PyjamaFan · 08/02/2021 18:48

Definitely do not pay him any more money.

wibblewombat · 08/02/2021 18:50

That's very dodgy.

Conveyancing is really slow just now...

Shehasadiamondinthesky · 08/02/2021 18:51

Why did you pay him? Are you insane? of course he isn't going to pull out at this stage.

PurBal · 08/02/2021 18:55

I don't understand why you're paying him.

VettiyaIruken · 08/02/2021 18:55

I can't believe you paid him! Particularly for something that is absolutely not your fault.

Housebuyer2020 · 08/02/2021 18:56

He has been threatening us and estate agents for the last two weeks for delays. Although it’s his management company that took over a month to get the pack to our solicitors. He has pulled from another cash buyer, as he had a change of heart.. we are at the last step and the lender not releasing the money is beyond our or solicitors control.

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gorillasinthemist · 08/02/2021 18:57

Why on earth did you pay him £1000? Have you actually paid or just agreed? Will the money go via the solicitor? Nothing to stop him remarketing still if you haven't exchanged!

gorillasinthemist · 08/02/2021 18:58

He sounds like a nasty bully but it makes absolutely no sense to pay him any more than agree. There are other houses.

Housebuyer2020 · 08/02/2021 18:59

Sorry typo there.. he has been threatening us and the estate agents that he will pull out if we don’t complete..

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LawnFever · 08/02/2021 18:59

Did the request go via his solicitor? No, do not pay him any more money, buying a house takes time, the time it’s taking is perfectly normal at the best of times

Housebuyer2020 · 08/02/2021 19:00

We have agreed.. he has come through estate agents...

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LawnFever · 08/02/2021 19:00

Does he have a property he’s moving to? I’d be tempted to call his bluff and say fine, he needs you as buyers as much as you need the house surely?

Housebuyer2020 · 08/02/2021 19:01

He wants cash, cheque or bank transfer

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RevolutionRadio · 08/02/2021 19:05

Have you already paid him?

I wouldn't be paying him anything, what's to stop him cancelling every thing tomorrow?

Housebuyer2020 · 08/02/2021 19:07

No we haven’t paid him, that’s what our worry is.. that if there are any more delays, he can pull out regardless

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Housebuyer2020 · 08/02/2021 19:08

No his is buy to let property.. it’s vacant

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LawnFever · 08/02/2021 19:08

No, go back on it, talk to your solicitor explain what he’s suggested and get them to write to him and say no - he shouldn’t even be suggesting such a ridiculous idea

ThelmaNotLouise · 08/02/2021 19:08

Don't pay him! He's being ridiculous – you're talking three more weeks, not three months, and you've already got to this point in record time. Tell your solicitor he's trying it on and call his bluff.

ThelmaNotLouise · 08/02/2021 19:10

@Housebuyer2020

No his is buy to let property.. it’s vacant
So he's got to cover the mortgage himself for the extra three weeks?
Throwntothewolves · 08/02/2021 19:11

He's effectively blackmailing you. Note that he went through the estate agent, not the solicitor. How do you know he won't ask for more or put the house back on the market anyway? Do not pay him. Get your solicitor to liaise with his on all matters, do not deal with h directly as he's clearly unreasonable

LawnFever · 08/02/2021 19:11

@Housebuyer2020

He wants cash, cheque or bank transfer
Tell him, via your solicitor to forget it, what a ridiculous idea
Imissthegym · 08/02/2021 19:12

Do not pay him.

We purchased from a similar twat. There were lots of threats that amounted to nothing as at the end of the day we had progressed so far pulling out would have just set him back a few months. He is playing on your emotions and chancing his arm.

Oh bless you, it’s so stressful buying a house without this anyway.

Daisy829 · 08/02/2021 19:13

I would let your solicitor handle this. He sounds awful. I can’t believe the estate agent didn’t tell him to do one. What a piece of work.