Sale dragging on - someone else interested!

rob_kzk

Hi All,

Firstly it's best if I give you a bit of background; in April we were 12 weeks into the sale of my flat and I was just about to move into a house with my fiancee, just as we were all about to exchange the buyer of my flat pulled out as the cellar in the flat wasn't in my title deeds and she wanted to convert the cellar. We went ahead with the purchase of the house using alternative finance as we really wanted it and managed to get a new buyer for the flat within a couple of days.

Ok, so that's caught you up so far(!). It will be 9 weeks on Saturday since we accepted the offer for my flat and things are beginning to drag again so predictably we are getting a bit anxious again. By the way the issue with the cellar has now been sorted and it's been signed over to me.

The new buyer for my flat works in a solicitors and it seems to be the solicitor that is making all the decisions. When the process started the buyer dragged her heels over getting a survey done as she didn't want to spend any money out (why put an offer in then!), anyway after 5 weeks the survey was done and it has brought up a damp problem in the cellar (mainly due to the buyer asking for access to the flat and puttin up a sign asking the surveyor to look in the cellar for damp). The stairs to the cellar have been affected by the damp but I can't do anything about the damp in the cellar as it's underground! I've offered to pay for a new staircase for the cellar so I got some quotes and have offered to take the required amount off the purchase price. The trouble is this buyer is still dragging her feet and I want shot of my flat as soon as possible as we are paying two mortgages at the moment and it's very tight for us.

When I was getting quotes for the staircase one of the builders said he was looking for a flat like mine to develop and was very interested in it.

My question is should I explore further what the builder is willing to offer etc and how quickly he can proceed or shall I persevere with this buyer whilst worrying that she's going to pull out and leave me in the mire again?

Any help/suggestions would be gratefully received.

Thanks for your help.

Rob

lynzpower

I would.

Just ask the builder if hes interested.

What have you got to lose?

robwend

hes gonna want a bargain mind you, thats the downside, and knows your gagging to sell it, only ask if you are prepard to be insulted lol

Jorgan_2

Does your current buyer have her mortgage offer & all searches back? If so they are potentialy close to being able to exchange. You need to find out whether the builder has finances in position, mortgage or orherwise, is he getting his deposit money from re-mortgaging another property? If so has the survey been done on for the re-mortgage.

Basically, can he complete quicker than the buyer you have at the moment. Only then can you decide if it is worth switching buyers.

clutton_2

is it still on the market ? if not, put it back on - that might focus her mind !1

irnbru_2

rob_kzk wrote:

I want shot of my flat as soon as possible as we are paying two mortgages at the moment and it's very tight for us.

Do the arithmetic and work out your margins for a cash price. Ask the builder to make you a cash offer. Just don't tell them your predicament - though a cash offer gives the game away

You could always auction it with a reserve.

Depends how quickly you want to shift it.