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Keeping buyers happy

6 replies

FitAt50 · 18/06/2022 16:24

We had offer accepted on our house end of March. Was on market at £450k and had 5 great offers, went with 3rd best offer of £467k as were told the couple were just about to exchange on the house they were selling. We are moving to Scotland (from England) and were up front that we couldn't move out until the end of July (Partner leaving teaching). Due to the Scottish buying system we can't offer on houses up there until we have legally exchanged in England. We asked for a long period between exchange and completion and were told no problem with exchange date set for 30th May and completion 7 weeks later. Couple were happy to move into their parents home and wait for us.

All was going great and were all set to exchange when the buyers buyers sale fell through and everything stopped. Fast forward 3 weeks and the house at the bottom has found a cash buyer and the solicitors say we are on track to complete at the end of July as planned. Obviously we will no longer have our 7 weeks between exchange and completion to find a house, offer and complete (it generally takes just 4-6 weeks in Scotland). We have asked our agent to contact the buyers and ask them if there is any scope for them still moving into their parents and giving us at least 6 weeks to find a home and move out. We have explained that it would be a nightmare having to find temporary accomodation, put all our furniture into storage and also pay for removals twice. Our agent it waiting to speak to our buyers.

My question is, should we offer them some sort of sweetener? From our point of view, when they notified us that they sale was on hold we told them we were totally commited to them and would wait for it to be sorted. We also had 2 better offers (one over £13k more) but picked them because they were due to exchange (they are also very lovely). We were thinking of offering to take £2000 of the asking price. Any advice or thoughts?

OP posts:
user1487194234 · 18/06/2022 16:28

It is not true that you can’t offer In Scotland until you have exchanged

FitAt50 · 18/06/2022 16:32

user1487194234 · 18/06/2022 16:28

It is not true that you can’t offer In Scotland until you have exchanged

We are trying to buy in the west end of Glasgow were flats are going for 20% over home valuation report. Our solicitors and agents, have told us buyers wouldn't accept our offers until we have exchanged due the crazy market.

OP posts:
user1487194234 · 20/06/2022 21:32

Have had lots of offers accepted for clients that are subject to sale
Very interesting

NeedAHoliday2021 · 21/06/2022 00:05

So you won’t put stuff in storage or go into temp accommodation but think it’s fine to expect your buyer to? Really? I get that it’s a pain but why are you putting this on them. You need to put stuff in storage and get an Airbnb.

Cinnabomb · 21/06/2022 06:23

To be honest I think you’ve been more than reasonable. It’s a sellers market at the mo, at least where I am. Buyers currently have very little power sadly, and I say this as a buyer!

FitAt50 · 21/06/2022 20:20

NeedAHoliday2021 · 21/06/2022 00:05

So you won’t put stuff in storage or go into temp accommodation but think it’s fine to expect your buyer to? Really? I get that it’s a pain but why are you putting this on them. You need to put stuff in storage and get an Airbnb.

To be fair, we were really clear that we couldn't move out until the end of July and chose our buyers because they were due to exchange and said they would move into their parents home until we moved. They agreed to aim for exchange at end of May. We kept asking for an update and it was only on the at the end of May that they told our estate agent that their buyers, buyer had pulled out. We said we would wait for them and were committed to them as buyers.

The plan was always for them to move into their parents home and we are willing to pay for their storage costs.

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