Madness !

bandofbrothers

My buyer is not returning calls by their solicitor or estate agent.

Now letters have been sent to try and establish contact.

Im utterly gobsmacked !

We are literally at exchange of contracts and then completion.

Luckily for me im not moving to a new home , no chain and no mortgage so their are no knock on effects for me. They on the other hand have probably amassed up to £1000.00 in fee's etc !

They have siged up with their solicitor for the mortgage and buildings insurance.

The completion date was requested by them to which I agreed to which was a week after signing up with their solicitor.

Sadly they did not at this point make the mortgage deposit.

So,

Contracts not exchanged yet so ive agreed with the ea to give the buyer to this Friday, which was the requested completion date to respond to the letters from the ea and their solicitor before putting the property back on the market. Ive also agreed to restore proceedings if he surfaces !

I am a 1st time seller so all of this is very new to me but even tho im green at this ,it astounds me that a person would pay out so much money and then go to ground.

Its also been 18 weeks since agreeing on the offer. Yes they have been very slow.

Im wondering if they dont have the deposit, but if so why go this far for so long and pay out so much !

Am I being fair ?????!!!!!?????

DeadCat

They probably got cold feet when they saw how much their mortgage payments would be per month and realised that they couldn't afford the property.

Maybe they are dead? Someone should go around to their house and check.

chickmug

I am sorry to hear you are in this situation.

A nightmare for the seller and the agent and I am also sorry I can't give you any reassurance. Most sales, if they go wrong, do so at a much earlier stage. Its anyones guess why they are being like this, 'head in the sand' and oblivious to your position.

Only they, and their solicitors, will know the real reasons but if they are local I would (as an agent) or in your position go and knock on their door and ask them face to face what is going on.

Hopefully if it is last minute panic they will get over it and proceed but not sounding good!

bandofbrothers

Thanks for your insight.

Ive lost way too much sleep on this and will be happy just to draw a line under it and move on.

I suppose time will tell !

skintlass

This happened to me, although I wasn't so far along the process but time wise I was about 12 weeks along. I found it really rude of the buyers - a simple call would have sufficed.

bandofbrothers

The completion date is for tomorrow so if the buyer does not make contact with their solicitor or estate agaent by midday, then the property will be placed back on the market.

For this buyer its been an expensive £1000.00 + of fee's and surveys learning curve.

God knows how much the mortgage arrangement fee's will be too but thats not my problem.

Been a learning curve for me too !

In the end I have no mortgage to pay on the property and im not selling to move to a new home. Back to the drawing board with alot more experiance than before... lol

chickmug

Sorry to hear and by the sounds of it you seem quite chilled but:mad:

Better luck next time.

ognum

Sorry to hear this you are handeling it with grace and dignity. Think of it as the buyers loss.

bandofbrothers

Thank you Chickmug ,

Believe me ive not been so chilled out in the previous weeks but it all seems to have come full circle.

Ive gone thro all the emotions trust me ,but i feel that all the weight has now come off my shoulders. Come to think of it im not quite sure why ive been so stressed. Probably because it is my first sell and I was not sure of the proccesses etc. And the buyer has really strung this out !

I suppose if i was selling to move onto another house, and in a chain then stress would have been high. I can appreciate what it must be like for people in this type of chain.

Next time i'll be better armed with knowledge.

bandofbrothers

ognum wrote: »

Sorry to hear this you are handeling it with grace and dignity. Think of it as the buyers loss.

It is the buyers loss in the end. He has paid for various services that are not overly cheap. Perhaps he will think twice before entering proceedings and taking it to such a late stage in the process. Maybe being £1000 + out of pocket will stop him from wasting another sellers time and effort.

Life is way too short to spend another second worrying about what could have been.

Its what will be that now intrests me.

Oh and also the neighbour now wants to show interest in buying the property, so all hands to the pumps as they say....lol

ognum

I am in a similar situation, we are all ready to exchange and the only thing holding it up is the buyer has not yet got insurance on the house so wont exchange until they get back from holiday. I will give them a very short time of my life and then move on, I dont need to sell so whatever will be will be.