Did you buyer pull out?

JennyW_2

ValHaller wrote: »

If you are not really sure whether it is a problem, then they are going to take their cue from you.

I just wish I could talk to them myself and drum some sense into them. Our agent even has a moving co-ordinator who deals with all the clients and the solicitors in the chain and she's been very helpful. She has also spoken with the buyer and gets the impression that the solicitor is worrying them but they are not strong enough to think things through.

I just don' know how they can take their cue from me when I'm going through agents and solicitors

ValHaller

JennyW wrote: »

I just wish I could talk to them myself and drum some sense into them. Our agent even has a moving co-ordinator who deals with all the clients and the solicitors in the chain and she's been very helpful. She has also spoken with the buyer and gets the impression that the solicitor is worrying them but they are not strong enough to think things through.

I just don' know how they can take their cue from me when I'm going through agents and solicitors

Well, you came here and asked about it, I gave you my view, you asked your solicitor and you have not actually come back and either said your are convinced by what I said or that your solicitor has confirmed. So I am wondering whether you are convinced. And you are still saying that this affects hundreds of houses on your estate and 'why yours?' But you are not saying 'it is obvious - Kier sold on their rights when they sold on the land'

You are actually worried about the legalities of the land rights rather than about your buyers being windy. You have picked up their windiness rather than them picking up your confidence in the security of your property rights.

JennyW_2

I am not saying it affects all the other houses, I'm trying to say that the plan edged red applies to the whole development but our buyer's solicitor is the only one who has raised it.

I am convinced its not a problem I'm just stressing as we're 9 weeks in and I don't really want to start again plus it's hard to put across my confidence when my words go via the ea and my solicitor

I've been very grateful for your advice and for your suggestion about asking about mineral rights

JennyW_2

ValHaller wrote: »

But you are not saying 'it is obvious - Kier sold on their rights when they sold on the land'

s.

I know that if this comment was put to the buyers solicitor he would just say he wants proof. He's not happy with any reply from the developers solicitor

ValHaller

JennyW wrote: »

I know that if this comment was put to the buyers solicitor he would just say he wants proof. He's not happy with any reply from the developers solicitor

Look, unless your solicitor says I am wrong (and it really would pay you to establish with a professional one way or another, because it all hinges entirely on whether what I said was right), then this matter is so fundamental and basic that ANY solicitor would come up with the same answer as I have.

So, the buyer's solicitor is NOT the least bit concerned about this in reality - he is playing a game on his buyers' behalf. Please forget about convincing the buyers or their solicitor (until and unless you find out I am wrong about this). There is nothing to convince them of, either they know the truth or their solicitor is not telling them things which they need to understand. This being the case, there is nothing much more you can do. Certainly not worry about the covenant. Just get your house back on the market without further ado - and no ultimatums, please no ultimatums - either you will find a sensible buyer or your current buyers will come to their senses.

But first of all put your effort into finding whether my explanation of the covenant is right. How you deal with your buyers depends entirely on whether or not there is a real problem

JennyW_2

Sorry, I addressed your comment about mineral rights and thought that's what you meant but reading back to the original post, I've seen your suggested theory so will put this to my solicitor Monday

So no ultimatums then, just tell them it's going back on the market until they decide if they want to proceed?

ValHaller

JennyW wrote: »

So no ultimatums then, just tell them it's going back on the market until they decide if they want to proceed?

Check that I am right about the mineral rights.

Then back on the market, remain open to the buyers exchanging.

It becomes difficult if you get an offer which you accept - you either have to tell the current buyers that they have missed the boat or you have to tell the new buyers that there is another offer near exchange (your solicitor will grass you up if you don't) So when you get another offer you need to say that you have buyers near to exchange and ask the new buyers to be patient for 72 hours. That is when you give the current buyers a 48 hour ultimatum. After this, your old buyers are either in the bag or history.

JennyW_2

ValHaller wrote: »

Check that I am right about the mineral rights.

Then back on the market, remain open to the buyers exchanging.

It becomes difficult if you get an offer which you accept - you either have to tell the current buyers that they have missed the boat or you have to tell the new buyers that there is another offer near exchange (your solicitor will grass you up if you don't) So when you get another offer you need to say that you have buyers near to exchange and ask the new buyers to be patient for 72 hours. That is when you give the current buyers a 48 hour ultimatum. After this, your old buyers are either in the bag or history.

Yes this is what would worry me, getting another offer. If course I would be honest with everyone but would not be sure how a new buyer would feel with the situation. Never been in this situation before