House I've agreed purchase with - still on market

hazyjo

As has been mentioned, get someone to ring (or you can!) to view it with the other agent/s and see what they're told.

Or maybe go view it again and happen to mention it to the vendor and see if they know it's still showing as for sale.

Jx

GDB2222

As a vendor, I've always insisted the property is marketed until exchange. Oh, and I'd just add that I've had buyers who wanted to reduce their offer just at the point of exchange. I was able to counter that because I had an alternative buyer already interested.

Catatonia

I think it is unreasonable of the EA not to put SSTC or something on it, but to reassure you, I have rung up about a few houses which don't say SSTC/ or under offer and been refused a viewing as they have a buyer already. So, although it's annoying for other prospective buyers (wasted phone calls) but doesn't necessarily mean that the sellers are not committed to you.

Jenniefour

This seems to be normal in todays market - on other threads stories of buyers pulling out a the last minute, including cash buyers. I don't imagine your vendors have any intention of spoiling a sale with a cash buyer - they have possibly been advised to keep it on the market and let any enquirers know it's under offer and interest will be noted, just in case. I wouldn't be overly concerned about this at all - and you could ask your solicitor if process can be speeded up.

Catbells

GDB2222 wrote: »

As a vendor, I've always insisted the property is marketed until exchange. Oh, and I'd just add that I've had buyers who wanted to reduce their offer just at the point of exchange. I was able to counter that because I had an alternative buyer already interested.

I'm amazed that someone would put themselves in the position of being an 'alternative buyer' and be waiting to see if your sale to the first buyer fell through. Even if you went with the alternative buyer I'm assuming you'd have someone else lined up to step into their shoes. Personally, I see this as being the estate agent's job as that's what we pay them for.

On the other point of reducing offers at the point of exchange - I'm assuming this happened well after the results of the survey were done when renegotiation often happens on the back of the survey? I agree this is very bad to do. There must be a way of preventing this happening pre exchange.

GDB2222

Catbells wrote: »

On the other point of reducing offers at the point of exchange - I'm assuming this happened well after the results of the survey were done when renegotiation often happens on the back of the survey? I agree this is very bad to do. There must be a way of preventing this happening pre exchange.

Yes, there is - keep marketing the property until exchange. I was quite up-front about this, and reimbursed half the loser's survey costs. I'm not suggesting that every seller should take it that far, but simply taking the property off the market is rather dangerous.