Seller demanding cash as completion delayed

[Housebuyer2020]

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

And next week or fortnight when he demands another 1000 and you think crap, if I don't give it to him I'll lose the house AND the first 1000 I just paid...

If you do it, you risk being rinsed

DO NOT PAY HIM

He is a bully. He has done this before. Don't be silly.

He won’t put it back on the market. For the sake of £1k (to presumably ‘compensate’ him for having to pay 3 weeks extra mortgage) he is risking losing you and possibly waiting months for another buyer. All the time he’ll be paying a mortgage so very short sighted.

DO NOT PAY!!! Seriously someone needs to pull their finger out.

Your timeline is exactly the same as ours even down to a Management Company as we're moving into an apartment and we exchanged today and move tomorrow. Ours has only been delayed as a mysterious person appeared in the chain that Roost didn't tell our buyers about.

Can I ask why you thought you were exchanging tomorrow? Our solicitor has been very clear with dates etc? And again, don't bloody pay him, the scammer.

Do not pay this twat a penny. Bloody cheek.
Why would he pull out and start all over again?

Oh what?! So he wants £1,000 in addition to the sale price? Not £1,000 off the sale price?

What a fucking cheek!!!

The solicitors agreed on exchange completion for tomorrow but the lender hasn’t released the funds and our solicitor needs to resubmit the COT or some documentation again. We have transferred deposit etc already to solicitor.. our sol isn’t the fastest thing on earth, but neither is vendors.. it’s the continuous threats.. the estate agents wants to wash their hands off him.. and has advised us that they will be happy we refuse..

Don’t pay him. He won’t pull out as he will have to start from scratch again with a new buyer. Also make sure your solicitor makes it clear to his that you will not be blackmailed.

We offered to exchange tomorrow but he said either complete or pay up. We can’t obviously complete as we dong have funds released

Stop ....

you must not be blackmailed into paying this Cash...

be rational .. 🌺

He shouldn’t be asking for money.
Tell him if he wants a £1000 up front you’ll be declaring the payment to HMRC. He is unlikely to want them looking closely at his dealings.

DO NOT pay him

He is trying it on, you have only got a couple of weeks to go. He may have months to wait, and if he got a cash buyer the solicitors would still need to do searches etc, so no way would they complete by the 24th

@Housebuyer2020

We offered to exchange tomorrow but he said either complete or pay up. We can’t obviously complete as we dong have funds released

Do not be blackmailed.

First thing tomorrow call your solicitor, explain the situation and that you will not be paying, ask them to confirm this via his solicitor

baffled that you paid him. He blackmailed you

Is that even possible?! That’s a thought

Do you get a receipt OP?

The estate agent should not be coming to you with this - it is a job for the solicitors.

Exactly what is he going to do with putting it on the market - it isnt your fault and it sounds perfectly reasonable length of time

Haven’t paid yet.. he has made us agree.. gave us a time deadline of 5 pm to agree.. abs we couldn’t reach solicitors before 5..

Now I’m getting ideas!! I think I would need to ask
For one!

He sounds like someone no one likes dealing with OP - he would be foolish to back out at this stage now and you hold as much power as he does.

GEt your solicitor to liaise with his team to get it sorted

You really need to take a step back and let your solicitor do their job. Why are you getting involved with stuff like this? Stop communicating with the seller - if you really want to throw money at this man, tell your solicitor and see what he/she has to say about that. If your solicitor tells you they aren't ready to complete then there is nothing you can do - remember your solicitor represents you and is acting on your behalf. They aren't going to complete if everything isn't in place. This is what you are paying them for.

Glad you haven't paid.... he sounds like a right shady cretin 😱

No, I wouldn't have paid him. Tell him to remarket - good luck getting it done quicker.

Do your solicitors know about this? Is it even binding? I wouldn't be particularly impressed with them either.

DO NOT pay him anything. You would be absolutely mad to do so.

Ask your solicitor to decline on your behalf.

Of course he wants a bank transfer, etc rather than have it added to the purchase amount. If you pay, he can still pull out and then you have lost £1000.00

Oh no, OP, don't pay this person! And the unreasonable deadline he imposed? Yet another massive reason not to do anything - he wants to stress and muddle you and ensure you don't have time to talk to your solicitor about it. I agree with everyone else - hold tight, wait and talk to your solicitor.