are we being messed around by our buyer?

pie81

Just wondered what your "gut feel" would be about our position.

We put our property (a London flat) on the market back in mid-Sep. Got two asking price offers within a week, we went with the chain free buyer (who intends to rent out the flat and then live in it in 2 years' time).

Our buyer didn't want to book in survey (i.e. spend any money!) until after he had seen draft contract and lease, so as to be sure there were no dealbreakers (eg ban on subletting). Ok fair enough, so we provided all that. Still no survey booked in though.

Then he wanted details of service charge history and the work done by the freeholder last year "to check the roof wasn't going to fall in", before he booked the survey in. We got a bit cross but provided all this info. Still no survey booked in though.

After lots of chasing, the buyer has now told our EA that he's happy to book the survey in and the surveyor will be in touch, but this still has not happened.

It is now SIX WEEKS since we accepted their offer and he STILL has not booked the survey in.

I think we are being messed around, and I'm inclined to re-market if they do not get the survey booked in by Monday. On the other hand our EA is convinced the buyer is really really keen to buy the property, thinks it's just their solicitor being picky, and thinks we shouldn't worry.

We haven't found anything to buy yet (but could do so at any time and will need to be "under offer" to be a credible buyer).

What would you do?

Thrugelmir

pie81 wrote: »

Just wondered what your "gut feel" would be about our position.

We put our property (a London flat) on the market back in mid-Sep. Got two asking price offers within a week, we went with the chain free buyer (who intends to rent out the flat and then live in it in 2 years' time).

Our buyer didn't want to book in survey (i.e. spend any money!) until after he had seen draft contract and lease, so as to be sure there were no dealbreakers (eg ban on subletting). Ok fair enough, so we provided all that. Still no survey booked in though.

Then he wanted details of service charge history and the work done by the freeholder last year "to check the roof wasn't going to fall in", before he booked the survey in. We got a bit cross but provided all this info. Still no survey booked in though.

After lots of chasing, the buyer has now told our EA that he's happy to book the survey in and the surveyor will be in touch, but this still has not happened.

It is now SIX WEEKS since we accepted their offer and he STILL has not booked the survey in.

I think we are being messed around, and I'm inclined to re-market if they do not get the survey booked in by Monday. On the other hand our EA is convinced the buyer is really really keen to buy the property, thinks it's just their solicitor being picky, and thinks we shouldn't worry.

We haven't found anything to buy yet (but could do so at any time and will need to be "under offer" to be a credible buyer).

What would you do?

Move on.

Why would the potential purchaser be wasting money on a solicitor if he hasn't got a morgage offer yet?

Mr_Matey

Set a deadline letting them know once it has passed you will be putting the property back on the market and considering the other offer.

delmar39

I agree with the above posts. As the buyer is now ready to proceed with the survey get your solicitor to set a very tight timescale for survey/completion and once the deadline has passed say you will be remarketing the property. It doesn't sound like you're in a rush to move and chain free buyers aren't often the best or only option as they can use their position to mess you around knowing you are unlikely to remarket - time to call their bluff. Chain free buyers can and do pull out of deals so don't put all your eggs in one basket, at least not until they have shown some financial commitment.

pie81

Thanks guys. Have asked EA to tell them that if there is no survey booked by Monday we will remarket. Let's see what happens...

The buyer does seem to be spending money on solicitors as we have had various enquiries through from them, but then they could be on a no purchase no fee deal...

pie81

hurrah! have got call from EA saying survey now booked in to take place tomorrow ("or monday if he doesn't have time tomorrow"). a good sign.

Mr_Matey

That was fast. A good result!
Good luck with the survey.

pie81

Thanks. Of course the sceptic in me thinks that the surveyor will cancel or not turn up ... but fingers crossed!

crabcakesfordinneragain

PM details of your flat/link to EA spec on website if it doesn't happen, as if my purchase falls through I'll be on the lookout again. Would feel much happier buying off a fellow MSEer!

jasonm_3

Hi, the advice from any good agent would be to keep marketing until a valuation has been booked. The Home information pack gives the buyer enough details to make an offer and show commitment, there are lots of occasions where an agent gets tow offers on the same property and one fails to get the loan that they thought they could get, there is a shrtage fo stock on the market so if you are priced correctly and have a good EA you will sell. J

Lunary

I'd like to offer a different point of view, we had an offer accepted on a property about a month ago and still haven't booked a survey on the advice of the EA. The seller hasn't found a place and so we are holding back in case she never does and takes the house off the market. Perhaps your buyer is worried that you haven't had an offer accepted on a house or has been advised by his sol or the EA not to survey until things are more secure .