Offer accepted but conditions changed

linlin_3

We have had an offer accepted on a house where the owners were "prepared to move out" according to the EA. Since acceptance, the EA now states the vendor has changed their mind about moving out and are currently looking for another property. As we're chain-free cash buyers, we're pretty upset about the prospect of getting involved in lengthy chains, which seems the likely outcome.
Do we have any options?

EssEmmTee

Do you have any options ????

Yes ........ tell the EA that you no longer want the house due to the owners actions then go elsewhere. As a chain free cash buyer I am sure you will be welcome by lots of other sellers.

[Deleted User]

EssEmmTree has a good point, but I am sure you love the house and don't want to start all over.

Ask them to exchange as soon as you are done with your searches etc. with a view to complete in 'x' months and if they havent' found anything by then they will have to move out and rent somewhere. If they don't agree to this, you pull out.

quatro

A friend of mine - a FTB - was caught like this. Vendor promised to move out for her as soon as her mortgage etc was arranged, in the meantime his chain fell through twice!
He had promised to move in with his girlfriend but when it came to it he just wouldn't. My friend lost about £800 due to this selfish *******'s attitude. He said he'd move out to get the sale....Plenty of properties and vendors welcome you and stick to their word.

silvercar

We have had an offer accepted on a house where the owners were "prepared to move out" according to the EA.

Do the owners know that they were prepared to move out, or were the estate agents stating whatever was necessary to close the deal.

AndrewSmith

Fair comment Silvercar,

I sold a house a few years ago, when the buyer's came for a follow up viewing to measure up etc they were a little surprised that we had not packed. "We were told you were moving into rented until you found a house" is what the agent told them.

I had no intention and had never mentioned moving into rented to anyone.

Dig a bit deeper. Arrange a follow up viewing (for measuring up etc) late in the evening (the agent will not want to accompany you if it's too late say 7.30). You will then get the vendor on their own. You can then politely ask them why their circumstances have changed. You will then get to find out the truth.

Andy

Ian_W

Good advice from Andy but it will only establish who is to blame. Really your options depend on the trade off between how much you want this particular property and how much you want to be chain free.

If you wouldn't have offered on the prop if you'd known there was going to be a chain you could do what EssEmmTee suggests and walk away. Personally, I'd be more inclined to indicate to the EA that you're thinking of withdrawing the offer due to the change of circs and that you'll think it over for a couple of days, see if that elicits any response before you walk away.

If you're now committed to the prop then your options are more limited. I'd consider revising your offer downwards by a few grand as you made it in the belief it was chain free, again you can only wait and see what happens. A lot may depend on how active the market is where you are. If it's very slow it may strengthen your hand as neither the vendor or EA would want to lose you as a buyer, if it isn't slow they may not see it as disaster if you don't buy.

Did the EA's written particulars mention chain free or available with vacant possession? If they did you might just slip into the conversation [not a threat, more a query ] that you "thought it was an offence under the Estate Agents Act to misrepresent the position of the vendor?" The EA will probably say the vendor only told them after they accepted your offer, but it may just make them think that they may be a little vulnerable in this.

BoL.

linlin_3

Thanks to everyone for their input. During our second viewing of the property, the EA mentioned the "prepared to move out" and also that another second viewing was due to take place the following day. I've no idea if these ae EA sales tactics or not!
The type of house we're looking for, in the area in which we're looking, is extremely rare - I'd guess less than 5% of properties coming onto the market would meet our requirements. This doesn't give us much room for manoeuvre.
I spoke to the EA yesterday and requested a date for measuring up (& discussing exchange/completion dates), but enquiries as to the validity of the EA's comments would only provide hindsight to their sales tactics.

Jorgan_2

linlin, as an EA I have lost count of the number of times vendors have told me they will move out & then change their minds. They fill in the property information form we provide them with, stating that they can move out without purchasing another property and when push comes to shove, they refuse. They can't be made to move out. When you get to speak to the vendor, explain to them what your understanding of their situation was when you made the offer & how that appears to have changed. They may have a valid reason for the change in circumstances, there could have been a misunderstanding between them & their agent, "we may be prepared to go into rented" is very different from "we are moving into rented" or the agent may have mislead you.

Was your offer, or there acceptance of it, conditional on there being no onward chain?

Try & establish some idea of timescales with the vendor as to a moving date. If they have found a property to purchase, how long is the chain & is it complete? If they have yet to find a suitable property, are there many types of property that they are looking for on the market and how many have they looked at. Once you have this information you can make an informed decision as to what to do. Best of luck.

dander

Don't see why you should threaten something as big as dropping out. Why not just phone the agent and say that your offer was conditional on the vendors moving out - since they are not doing that any more you'd like to renegotiate the price.

silvercar

I can't see vendors accepting a lower price than they now know you can afford.