Deceitful vendor help needed!

kam_bhar

Hi Everyone

I need some advice on how to deal with a rather deceitful vendor and I think an EA whos helping the vendor in there deceitful plans. :mad:

The heart of the matter is the vendors keep putting of completion/exchange dates with one excuse after another. I got yet another crock of BS friday (its allways friday I get told :rolleyes: ).

The longer completion/exchange date gets drawn out the more likely my buyer will pull out (it took me over 6 months to sell)

I was thinking of laying out on the line to the vendors EA saying if the property isnt vacated by x we pull out, ive tried this befroe and they managed to worm there way out of it. What I need is some sort of garantee with a penalty. Is this reasonable ? and what sort of penalties could I insist on?

This has now been dragging on for 3 months after we were told by the vendor from the outset that they would move with there parents to speed things along.


Thanks Guys


Kam

A_Nice_Englishman

I wouldn't just threaten to pull out I WOULD pull out.

You've taken 6 months to find a buyer for your property. How long will it take to find another one if he pulls out? Find another property to buy.

dougk_2

Give them a deadline for exchange say 30th October, and say if it doesn't take place by then the deal is off- get your solicitor to do this in writing. In the mean time start looking at other houses, so you can have a backup. Make it clear to both the EA and the vendor you are now looking at and putting offers in on other properties. Don't lose your buyer as that is the hardest part of the process!

Luddite_2

I agree, a stressful situation - but if you take control of it. Rent somewhere in the meantime - invest any money to cover the cost of storage etc. It might pay off and get them to move but if you go into it with a place to rent lined up etc then you are going to feel a whole lot better. (Not leaast because you can tell them where to stuff it )

Zippy2006

It's when I hear of horror stories like this that I am glad I live in Scotland.

They say you can't pull out of a sale once an offer is accepted - this technically is true in 99% of cases.

The big plus for buyers and sellers here is that once on offer is accepted - you can't pull out without paying incurred cost's & interest to the other party.

It weeds out the timewasters.

If I were you I would pull out of the sale - do you want to hand your money over to a piece of pondlife who is just waiting for a better offer to come along.

kam_bhar

Al_Mac wrote:

What reasons do they give

hi Al Mac

An example below

The person they are buying from has had a holiday booked which they dont want to cancel the holiday because they booked it a while ago. And cant possible complete untill mid Nov.

My response was that Nov isnt acceptable, the vendor came back to me via the EA to say thay have pulled out of the sale due to a bad survey, and they would move into there parents. This over the course of one weekend. But the house they are buying is STILL sstc on the EA's Website


Kam

silvercar

ask them to consider exchanging with a delayed completion. Say everyone in the chain to exchange by end of October with completion beg December. At least you will all know its happening.

Sharpie

I agree mainly with the comments about getting out, but it depends upon how much you really want this house (and how far you are prepared to lose the costs you have already parted with ..valuation fees etc)..

Its not right that you should be mucked about...the EA will probably still want the sale to go through (particularly if they are commission based or target driven, but not all are these days)

I also agree with the comment about not losing your buyer under any circumstances, and make sure that you have a Plan B in place before you tell the vendor to stick it..

All of this happened recently to a client of mine, and in the end it was the vendor who pulled out just on the exchange date after all the excuses they had come up with, so beware..they could be using stalling tactics for other reasons..

Do not put up with it..be tough and be strong- life is just too short to be mucked about!

Mrs_pbradley936

I would keep looking and then tell them I had found something I liked as much as theirs which can exchange in two weeks. If they can match it you buy theirs if not go for another property. You will lose anything spent but you will lose it anyway if they keep stalling and you might end up losing your own buyer.

Doozergirl

I would really push now for imminent exchange, say 10 days, with the earliest completion date to suit everyone, even if that is November or December. At least then everyone knows where they stand, timewasters get weeded out (your vendor?) and people can make plans for the future.

You'll find with your buyers, as much as you, that they simply want a date and if they had one, they could relax; even if it's not as early as they hoped.

I've seen soooo many times vendors saying they will move into rented/with family and it doesn't happen, they're just saying what they think a buyer wants to hear in order to get an offer. I guarantee your vendor has no intention of moving in with family and expects you to wait for them to find somewhere to buy. The only way to move things forward is to force their hand...exchange within 10 days otherwise you start looking again.

Your vendors are looking for a new property. You also have that entitlement.

Sharpie

absolutely 100% agree with the post from Doozergirl!