buyer dragging heels after 14 weeks - no chain involved

mrwoo_2

we accepted an offer 14 weeks ago on our house with a buyer who had the cash and was buying our house to rent out, everything proceeded and we signed our contract and sent back on 23rd june, after nearly 4 weeks i telephoned my solicitor to see if we could get a exchange date, he contacted the buyers solicitor who said he sent out contracts 4 weeks ago and had not received them back.
i contacted the estate agent (who is a friend of the buyers) and was told he had not sent them back he got confused. i found out he had sent the identification forms backs. apparently they have been sent back signed now, after 12 weeks the buyer had a surveyor sent to our house, and was told everything was ok, then the buyer last week (week 13) came round and wanted to measure up, check central heating was working ok. questioned us about the conservatory told him what he wanted to know, next day my solicitor phoned with a load of questions regarding the conservatory which we answered (it was built 13 years ago and in excellent condition), we were told the buyer had sent off deposit last week. we think he is stalling as he is going on holiday this saturday 8th august, i told estate agent this and said why is he stalling and waiting 12 weeks to get survey done it should have been done at the beginning, we have asked for it to go through before his holiday, but my solicitor says the buyers solicitor is not returning his calls. yesterday the estate agent phoned me and said the buyer has no worries over the conservatory and it is the solicitor raising it.
should i set a deadline for the exchange as we are really fed up, i feel like putting it back up for sale. we accepted a lower offer due to the buyer having the money and my house sold in 6 hours of putting it on the market we thought it would go through quickly. 14 weeks we seem to be getting no where

Doozergirl

Set the deadline for exchange and put the house back on the market if it doesn't happen. If he is going on holiday next week then I would simply tell him that the deadline is Friday for exchange. If he is a cash buyer then there is no genuine reason at this point for any delay. The only genuine delays would be mortgage related ones.

You don't have to actually kick the buyer into touch and dump him altogether, just make your house available for someone genuine if he is going to continue to delay. After 14 weeks there really is no reason why you shouldn't do that - you've been more than patient. My opinion is that he is doing this purposely as there is no other excuse.

picardygirl

I agree with Doozergirl - you have been more than patient.

lellow_lorry

14 weeks for a cash buyer?? 4 weeks no survey and progress I would have asked serious questions...buyers market or not. You are in a limbo situation where ...will it proceed or are you in a position to move yourselves and its not a nice feeling. Sometime answers needed swiftly or answer is back on the market(although I accept August not a good time to market). Poor communication breaks so many sales but dragging heels is not fair on you. Good luck!

mrwoo_2

i phoned the estate agent and had a good moan and a rant and said i am fed up with the buyer (his friend stalling) and i might put it back on the market with another estate agent.

contacted my solicitor who has now managed to get in contact with the buyers solicitor (as he wasn't earlier answering my solicitors calls) and he was told he had to check there was sufficient funds for completion from my buyer.
an hour and a half later my solicitor phoned me and said he had just exchanged contracts and should complete on friday, the day before the buyer goes away on holiday.

it seems to me it doesn't always pay you to be mr nice guy as you don't seem to get anywhere like that, have a good moan and things start to happen.

Thank you for all your answers they are much appreciated

Doozergirl

That's great news! Thanks for coming back to tell us aswell

dfh

congratulations....................

SallyCinnamon

Well done Mr Woo!

chickmug

Doom and gloom on the 4th and on the 5th has exchanged??

The lesson for anyone, that wants to listen, is that the period from agreeing a sale until the exchange is extremely stressful. Everyone gets more and more stressed and more and more paranoid. They imagine every scenario of what could, or should I say what will, go wrong.

NOT helped when the professionals involved do NOT keep everyone in the picture.

I guess this is how it is but there must be a better way?

Mrwoo good luck to you and hoping your nerves have calmed down:beer:

pawpurrs

Congratulations, well done! You had a lot of patience 14 weeks!

mrwoo_2

i thought i would give you an update, as completing today, was told by my solicitor to wait until he phones me before handing keys over at estate agents to confirm to me that the funds have been received.

Just had a phone call from my estate agent - congratulating us as we have completed and asking if i could drop keys out to him ASAP, i have not been told this by my solicitor, checked on the online case site and it shows it has completed, phoned solicitor he is at lunch, i'm absolutley fuming, so i am ringing a 2 on th dot, i can't beleive he hasn't bothered to tell we completed and to pass over they keys over to our buyer.