Think our buyer is pulling out

80schild

Definitely! If they don't exchange then to me that's saying they aren't commited to buy and probably still haven't got funds sorted.
I am quite annoyed-these buyers insisted the estate agents put the property off the market and its been down as SOLD STC at 95,000 when they were only paying 60,000. If it had been on at sold stc at 60,000 I bet we would of still got offers over the 6 months this sale has taken.
Also the estate agents told us they were a straight forward cash buyer when in actual fact they were getting bridge loans!
I know people will say its my own fault for trusting them. I had my doubts all along but I have had the estate agents, solicitor and mortgage advisor telling me 'don't worry it will be fine' everytime I expressed a concern!

Hugbubble

My partner had a similar situation when she sold her house to, like you, an investor. They messed around for so long until our solicitor (who was fab) threatened to start charging them for not completing (I think it was completion but might have been exchange- was a long time ago) on the date they had said. Suddenly, they managed to find the funds.

As others have said, a strong conveyancer is key...

(Oh and don't give up hope quite yet. We had all but given up but suddenly they came through)

80schild

Our mortgage broker has just said that she has a contact who will buy the house off us at 51k-far lower than we want but I am going to go with this if we get no joy from the buyer today! I reckon its her really whose going to buy it as its a total bargain-and would easy re sell for 70k within 6 months (I just don't have 6 months to play with if we want to proceed with purchase!)
Feeling relieved to have this option as I have been considering cash for houses companies!

JQ.

Out of interest, where's the property and do you have a rightmove link?

ps - the company being dissolved is not a major issue. Most Property Companies have hundreds of companies with which to buy their properties - it minimises their risk to the banks. Quite often they will set up a new company for each purchase - it means that if the worst happens then the bank only has recourse to that one property and they get to keep all the others.

missile

If it were me I would put the property back on the market possibly with a.n.other agent.

80schild

JQ. wrote: »

Out of interest, where's the property and do you have a rightmove link?

ps - the company being dissolved is not a major issue. Most Property Companies have hundreds of companies with which to buy their properties - it minimises their risk to the banks. Quite often they will set up a new company for each purchase - it means that if the worst happens then the bank only has recourse to that one property and they get to keep all the others.

I will PM you the link!