Cash buyers delaying transfer of deposit 12th day waiting...

mrginge

stator wrote: »

It's quite clear that they don't have the money yet and are just delaying you until they can get their hands on it.
As people have said above definitely put it back on the market immediately and assume that your current buyers aren't going to be able to complete.

Agreed.
I'm surprised they haven't gazundered you yet. Perhaps that will be their next move.

DRP

Either they are having problems getting their finances together, are ridiculously busy/disorganised, or this is tactical in order to put you in a weak position for negotiation when they reduce their offer at the last moment.

Give them a(nother) grace period of 5 working days and then start accepting viewings. Also prepare in advance what you can say/do if they reduce their offer.

You have to find a way to concentrate their minds.

MrsMooMoo

nubbins wrote: »

Personally I would do this but be prepared with the consequences that go with it. I wouldnt be suprised if they demand a drop in price at the last minute. I just would not put up with this especially if they had been doing it for the last 3 months.

That is exactly what I'm worried about, I also think they're trying to pull a fast one and will request a drop in price any minute.

HOWEVER - they have already done so (a month after their survey) they dropped the price they were willing to pay by £15K as their survey valued the house at less than they'd bid (that's a whole other story, we suspect they got a friend who was a surveyor to say that because we had several other offers at more than the full amount and had 21 viewings in a week so we know it is fairly priced for what it is). So we've already taken a massive hit in order to keep the chain going. That's another reason why we're furious that they are mucking us about, we've lost so much to them already and now this.
Will tell solicitor final deadline 4pm today or re-market the house and see if they finally get a kick up the backside and do something about it.

KJBlackwood

We had a similar buyer who strung things out then dropped his offer by a whopping £300k the day before supposedly exchanging contracts. Refused to deal with him any more after that and had a new buyer within a couple of weeks. Don't let people walk all over you unless you have no choice.

nubbins

KJBlackwood wrote: »

We had a similar buyer who strung things out then dropped his offer by a whopping £300k the day before supposedly exchanging contracts. Refused to deal with him any more after that and had a new buyer within a couple of weeks. Don't let people walk all over you unless you have no choice.

Well out of order especially when they originally offered 301k :rotfl:

rpc

MrsMooMoo wrote: »

we had several other offers at more than the full amount

So you chose a low offer?

I'd get your EA to get in touch with some other bidders to see if they are still interested.

Take heart that, if it is that popular, it won't take long to catch back up when you remarket the property.

nubbins

MrsMooMoo wrote: »

That is exactly what I'm worried about, I also think they're trying to pull a fast one and will request a drop in price any minute.

HOWEVER - they have already done so (a month after their survey) they dropped the price they were willing to pay by £15K as their survey valued the house at less than they'd bid (that's a whole other story, we suspect they got a friend who was a surveyor to say that because we had several other offers at more than the full amount and had 21 viewings in a week so we know it is fairly priced for what it is). So we've already taken a massive hit in order to keep the chain going. That's another reason why we're furious that they are mucking us about, we've lost so much to them already and now this.
Will tell solicitor final deadline 4pm today or re-market the house and see if they finally get a kick up the backside and do something about it.

!!!!!!!!
I do understand how you feel, you have spent time,money and stress getting to this stage and you still think there is a chance it might pull off. This might still happen but I think you need to be the one that forces their hand now. Anyway try not to get stressed, easier said than done!

MrsMooMoo

:mad: UPDATE: Our solicitor has confirmed they have FINALLY transferred enough for the full 10% deposit....BUT they claim they can't access the full amount to purchase and complete for another 4 weeks.

Which bank on earth doesn't give access for a month? And why have they not applied to access the money WEEKS ago when they were asked for the deposit?

Do we have to wait a month if that's what they claim they need to access funds? Despite moving at Christmas into a house with major repair work needed and which doesn't have heating in some rooms with a new baby? AAAGH. These people are such a nightmare.

Is there any way we can ask them for a faster completion, or do we just have to go with whatever they 'claim' is their access time for funds? We already asked them to provide evidence from their bank that the funds would take 2 weeks to access (that was the time they told us over 10 days ago, so adding another month on top is SURELY just a delaying tactic)...

pimento

I bet their tenant (that they will almost certainly have lined up) need to give four weeks notice..

kiddakidda

MrsMooMoo wrote: »

:mad: UPDATE: Our solicitor has confirmed they have FINALLY transferred enough for the full 10% deposit....BUT they claim they can't access the full amount to purchase and complete for another 4 weeks.

Which bank on earth doesn't give access for a month? And why have they not applied to access the money WEEKS ago when they were asked for the deposit?

Do we have to wait a month if that's what they claim they need to access funds? Despite moving at Christmas into a house with major repair work needed and which doesn't have heating in some rooms with a new baby? AAAGH. These people are such a nightmare.

Is there any way we can ask them for a faster completion, or do we just have to go with whatever they 'claim' is their access time for funds? We already asked them to provide evidence from their bank that the funds would take 2 weeks to access (that was the time they told us over 10 days ago, so adding another month on top is SURELY just a delaying tactic)...

Now they have paid the deposit get them to exchange with agreed completion in a month. It might not be ideal but in contractually commits them to purchase and gives you the right to sue if they start messing about again close to completion.