Delaying tactics? What happens next?

MegaMiniMouse

kingstreet wrote: »

I'm surprised self-interest hasn't got the agents jumping up and down. They don't get paid until it completes, so they'll be anxious to get the sale completed.

In my experience, there is nothing that will get EAs jumping up and down, except the prospect of signing a new client

Solicitors too don't generally get paid until completion, but they tend to sleep a lot so far as I can tell, so they don't seem to worry

The OP's experience is entirely normal, unfortunately, in the strange medieval world of property conveyancing

It is possible that the buyer, being an investor, is playing the market to his own advantage, and might pull out altogether at some point in the future, or else come in at the last minute with a lower offer - I would wait no longer

But, unless you have signed up to some unusual deal, you will not be liable for anybody else's expenses other than your own, any more than you will be able to claim for your wasted time and money against anybody else

Property deals are like playing a game of Chinese Whispers across a Minefield which was laid in an area of Shifting Sand

MMM

missile

I think your partner is right to be anxious.

This may not be what you want to hear>
I had a buyer who offered well below my price. Then he wanted time to discuss with his wife. Then he negotiated a mortgage. Then he got a survey. Then he had a.n.other excuse. After several months, he says he expects prices to fall and get a better deal come summer.

I would contact the buyer directly and ask if and when he intends to proceed.

bunglesabout

Thanks everyone
I have a feeling that he may be delaying in order to ask me to drop the price at the last minute (MMM) but maybe I am being a little cynical.
Either way I can't do it. I have bills too and his offer was well below my original asking price to begin with.
I know it sounds silly, but I find it incredible ill-mannered to just leave someone dangling and would never do this to someone I was buying from.
I just need a straight answer, but I doubt I am going to get one.
I am surprised that both my solicitor and EA have not jumped on this more as they are having to wait for their money too (kingstreet), but I suppose that when they have many clients and sales that complete and fail on a regular basis, I am just one more small fish in a big pond.
I try to look for the good in people (my partner says I'm too trusting) but in this case I think I will just have to bite the bullet and set a deadline, so that I can move on.
Thank you all for your help. It is very much appreciated, even if it is not the news I want to hear.

Bungle

MegaMiniMouse

bunglesabout wrote: »

I am surprised that both my solicitor and EA have not jumped on this more as they are having to wait for their money too (kingstreet), but I suppose that when they have many clients and sales that complete and fail on a regular basis, I am just one more small fish in a big pond.
Bungle

You have hit the nail upon the head - EAs and Solicitors earn their living from the simple straightforward jobs which cause them no headache

As soon as complications and delays appear on the horizon, those cases are moved to a separate intray

MMM

gingertips

why not give him a tight deadline - ie the end of this week - if no cheque forthcoming by friday then house back on market.

hcb42

we had a similar issue with a buyer last year when selling my Dad's place, wanted last minute discount, wouldnt exchange etc. We deadlined him and refused to drop any further. He exchanged.

Mazza101

Hi There

Relatively new to the forums so please bear with me, but I am in exactly the same situation as this....and wondered whether there has been any progress or what you had decided to do????

I'd be absolutely devastated if our sale fell through!

MegaMiniMouse

Martin Lewis is famous for his Consumer Campaigns, but the Property Market is not subject to the usual rules of the consumer marketplace, despite the fact that houses are now a Consumer Item like any other

Property Chains are rather like the queue at Argos - everybody waits in hope, with no guarantee of the eventual outcome

But at least Argos, like any other player, is obliged by law to deal with its failures

The same rules should be made to apply to people who choose to play in the property game

MMM

ps - that includes solicitors and Estate Agents, as well as 'ghost' purchasers etc