I don't think my buyer has the money arrrgh

[cherryredretrochick]

WE bought a house last August and had real problems selling our flat, we just had no viewings, the first person that viewed the flat bought it. So all was going well until, 4.30pm the night before we exchange we find out that our vendor has pulled out of the house they are buyinh 3 weeks previously and not told anyone.
Anyway, our buyer says he will wait and we found another house very quickly, all going fab again. Fri solicitors rang to say we are looking at in the next couple of weeks. I rang our buyer who is desperate to get in here, he said that he will have to chase his divorce money up and it could take three weeks and that he needs to reapply for his mortgage as the offer ran out. He started a new job last week.
I know he wants to move in as quick as possible as he is living with his parents at the mo but I am now petrified that he is goig to pull out at the last minute. Which is round about now, and I have no idea what to do about it.

Unfortunately you can't do anything about it apart from hope

It does show commitment that he has waited this long and mortgage offers commonly run out.

In the last ten years I have sold 4 times, and it has fallen through a dozen, its just the luck of the draw. Hopefully you and your solicitor have done all you can.

You need to get him to sort his mortgage asap as some lenders have changed their criteria in the wake of the northern rock fiasco It can be done really fast online or with a broker.Hassle him!!!!

That's why selling houses is so stressful - there is nothing you can do. But it shouldn't be down to you to be doing the chasing - that's what you are (presumably) paying an estate agent to do. Get them to lean on him and come up with a back-up plan for a worst-case scenario.

I am wondering what we are paying an estate agent for, apparently they have only called my buyer ionce, I called him to tell him original purchase fell through they never have. And he was actually our only viewer . Just spoke to solicitor, he thinks will all be OK and will try to exchange asap so he can't pull out.

He can't exchange without the mortgage agreed though.You shouldn't be dealing directly with yuor buyer it is up to the agents and solicitors who are getting well paid to act for you.

My solicitor is on the ball, his is the same as the property we are buying and they don't seem very motivated IYKWIM. I am just getting really stressed as we are talking about dates next week and I have to pack up house, organise kids etc, I kow everybody has to do it, I have never done iot before and am not the most relaxed person.
I will just feel so much happier when somebody has actually said a date out loud rather than hints.
I need to just leave it to happen and forget about it. Problem is it is taking my mind of other family probs which I don't want to be thinking about either.

You could try getting in touch with the vendor's agent if you're getting no joy from yours.

When we bought this house our agent was useless, but it was in our vendor's agent's interests that we sold ours to complete the chain and they did a lot of chasing of all the parties in the chain. I don't think we'd have moved yet if they'd all been like our agent.

Thanks but i think they are just the same. Just need to take a chill pill and let go of the control, problem is when something is such a big part of your life you would kind of like to know what is going on, plys solicitors seem only able to communicate by letter so whenever there is a problem it takes a really long time to sort out. Is that for some legal reason (ie hard copy). Anyway I am going to chill and have a glass of wine. At least5 if things are delayed I have more time to pack.