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Selling searches

1 reply

Finallygrowingup · 25/02/2021 00:04

Unfortunately it looks like the vendor is flaky. She is now not happy with the property shes buying and has requested more time to look around, we're not too happy as its taken forever and her behaviour is giving us doubts as to whether we would ever complete tbh. We have searches carried out and at enquiry stage. Ive heard people sell their searches to vendors solicitors for prospective new buyers. Is this common? How easy is it to do? Will I get the money back or solicitors? Could it go towards search fees to a new property? Any advice welcome.

OP posts:
CatAndHisKit · 25/02/2021 01:18

Yes, it's common when both sides are willing!
I'm on the other side and want to buy searches from the flaky buyer who has lied about his position (or decided later to change it) and months on, I@m none the wiser when the exchange is. So now someone else is interested, they are happy to buy the searches - so if he agrees to sell this would be paid by the my next buyer. So all between solicitors.
But in your case, yes, will go to your next searches if it's the same amount, or if ou aer buying in the same area, I assume most of these will stand and you pay for the rest. I think it will go to the solicitor as they wait for you to buy elsewhere - ust for conveniennce, but you can choose to get the money from them, just will haev to pay that again nexr time. Transfers can cost something.
I'm worried by buyer will not sell jus out of spite as he's angry now - though it was all his fault. I gave him months.

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