Request for advice!

[Spangledstarlight]

Hi All

I’m after a bit of advice please! I’m hoping for advice on this situation which has been ongoing since end March and also whether you’d consider a house on which there was an existing 3 month old offer?

The back story: I accepted an offer from a cash buyer on my first time buyer type house at the end of March. This then turned into a mortgage/then involved a change in solicitors who didn’t respond to mine at all.

After saying I needed some communication via solicitors and a timeline for exchange given it was over 3 months my buyer suggested the end of the month. However no confirmation from my buyer’s solicitor was forthcoming.

So I’m currently in the process of re marketing my house new photos etc (which incidentally coincided/prompted queries to my solicitor)

I’ve lost confidence in my buyer but conscious I’ve given till the end of the month.

Would it be reasonable to ask for confirmation of a date to exchange? Also would you consider viewing/offering on a house given there’s an old offer on it? So potentially, if I understand it correctly, being in a contract race. Thank you!

First, you need to let your buyer know that you're not actually giving them until the end of the month but are going back on the market, if that's what you're doing.

Second, there's no way I'd put an offer on anything in that situation. Either you're going ahead with your buyer or you're in the market for a new one. I wouldn't be interested in anyone who wanted it both ways, would be too worried that they would do the same to me after I'd spent money. I'd rather buy from someone more ethical.

Hi @MarianneVos thanks for posting. I don’t think I was clear enough.

Yes I have been upfront about re marketing mainly because I didn’t understand why his solicitors couldn’t at least confirm they were acting for him after 2 months (from change of solicitors).

I think this is what finally prompted some communication from my buyer’s solicitors.

My communication via EA was that if he could exchange by end of the month then good but that I was remarketing. (Though as commented in my OP I’ve lost confidence as a cash offer at the end of March turning to mortgage turning to new solicitors and no communication at all from solicitors let alone queries/survey for two months saw to that). Possibly answering my own question here!

I’d query the ethics of claiming cash buyer status and turning out not to be. Thanks for your perspective though it’s why I posted. I’m trying to navigate this

We wouldn’t offer, or even just view in the off chance, on a house already under offer.
I get why you are annoyed, and hope it works out quickly for you.

Thank you @Alphabet1spaghetti2

Your EA should not be marketing the property and encouraging offers if you’re still trying to complete with another. Highly unethical.

In your position I would request confirmation of what stages of the conveyancing process have been completed and an exchange/completion date from their solicitor by 5pm on Monday. Then you can assess how committed the buyer is.

My guess is they don’t have a mortgage offer, haven’t arranged or done a survey and the searches haven’t been requested. If I’m right, tell them you’re rejecting their offer and will remarket from Tuesday.

Thank you @123walrus I can see the positives about a new buyer. I have asked. EA informed potential buyer and would be open with all enquiries.

The issue is it’s all been conversation via EA with this latest solicitor until I proposed re marketing (I don’t think that’s a coincidence so after 2 months of no communication from solicitors).

My EA has said he’s never known a case where the solicitor refuses to communicate I think he is fed up too but obviously wants the commission.
I had thought of a deadline and could of course use that to withdraw However my solicitor has advised any date proposed by my buyer is subject to confirmation by solicitors and is hearsay.

Searches have been done with previous solicitor in March! EA has proof of funds but this was when it was cash, so I’m taking solicitors advice on this he’s asked for proof of funds funds again last week 😵‍💫

Thank you. Appreciate your post