Our buyer is seriously messing us about

JamesDublin72

Agreed a sale with a buyer a seven weeks ago, they wanted the move in date as 30.06.2011 this Thursday.

Anyway we agreed 75K on our flat, the HR was to be refreshed, it was valued at 78K instead of 85K which caused an issue with his valuation for his Halifax Vendor Gifted Deposit

He then agreed we could get another valuation (the original Surveyor after us contacting them and complaining about the 7K fall admitted that 10 mins in our house and looking at similar properties in the area wasn't adequate refunded our monies!) which we got at 82K

We have all our papers completed with our Solicitor and on offer on another house.

He "disappeared" for two weeks and last week Thursday our Solicitor advised us that he hadn't heard from him, his Solicitor hadn't heard from him, our EA hadn't heard from him and his Mortgage Advisor hadn't heard from him, so we should look at putting our house back on the market.

On Friday he resurfaced assuring us all was OK, he couldn't get in contact with his Mortgage Broker and that a final offer would be forthcoming soon.

His Solicitor contacted ours and our the EA to advise she hadn't heard anything yet from him and the Mortgage Advisor was again trying to contact him.

So should I hold tight?

Set a date for exchange and set a fixed date for the missives to be swapped or else we would withdraw from the sale

Chalk it up to experience and have my Solicitors costs to pay (any idea how much?)

Any ideas?

RAS

is this Scotland? As the law is different.

JamesDublin72

Thanks

yes in Scotland

cannot fathom if the guy is stalling (why I don't know) playing a game of brinkmanship or has decided to back out and hasn't the bottle to inform anyone

to check, he is also running up a bid with his Solicitor? (she has written 6/7 letters to our Solicitor) and with his Mortgage Broker - I am trying to see if he is invested in this deal or if he is not aware of times / dates etc for completion etc

bris

If he won't conclude missives then he is stalling for time, something is not right with his mortgage and he is stalling to sort it out. You should put the house back on the market and leave him with the option of concluding missives. The chances are this buyer will not get his mortgage so you are wasting time that can be spent looking for another buyer. If you find another buyer then first to conclude missives wins.

WhiteHorse

Probably a waster who doesn't actually have the money at the moment.

Contact your EA and instruct them that the property should go back on the market immediately. Viewings should recommence and any boards signs, notices (internet or real), saying 'sold' 'under offer' etcetera are removed.

Then tell his solicitor that this has been done.

JamesDublin72

Thanks all - any idea (or is it subjective to the amount of work he has carried out) I'll owe my Solicitor?

Thinking of taking it off the market entirely for a couple of months, sticking it back on in September and starting this all over again....

WhiteHorse

JamesDublin72 wrote: »

Thanks all - any idea (or is it subjective to the amount of work he has carried out) I'll owe my Solicitor?

Ask. Some solicitors want a whole new fee, others will give a discount on when the property is sold.

Mine have never charged me any extra at all, reckoning that most of the time is spent in setting it all up. Changing the details costs very little.