Withdrawing 'cash investments'? Buyer stalling?

basil92

AnotherJoe wrote: »

Post 37. Do it. You can do it today.
All this guff about "portfolios" and ISA is just that, guff, your "buyer" could as said raise enough funds for the 10% deposit for exchange if they wanted, I've got a "portfolio" (fancy word for "some shares in some companies*") and that's abroad and could have them by end of next week including selling and transfer.

If they can't do that, well I wouldn't count them as a cash buyer, if they take longer to get their cash than someone else a mortgage, where's the advantage of cash? I think people have lost track of why a cash buyer is meant to be good, speed and certainty, because your "buyer" isn't making any use of that, so the fact they say they are cash is an irrelevance.

They need a rocket up their you know where and your EA could have people viewing your place today and tomorrow.

* portfolio sounds so much more sophisticated though doesn't it but it's just being used to bamboozle you.

What he said.

MissusP_2

You're very right. If we don't get any kind of definitive answers today about timescales I think we've got to ditch them. We took out place off the market for these chumps prior to an open day where we could have at least had a choice

Dan-Dan

Are you likely to receive any news on a Saturday ?

MissusP_2

The agent asked buyer to speak to his accountant yesterday/today and he's going to call for an update so theoretically yes if that happens!

AnotherJoe

MissusP wrote: »

You're very right. If we don't get any kind of definitive answers today about timescales I think we've got to ditch them. We took out place off the market for these chumps prior to an open day where we could have at least had a choice

How many answers do you want? How many times has this joker given you answers already? The only way you'll get an actual answer that means anything is if you call this guys bluff and put it on again now. It's the weekend I bet the EA has several buyers who are raring to go. At worst because you need to be upfront with them, you can get them lined up as alternatives. If you wait for answers today here's my forecast, first of all guy can't be contacted this weekend, then by about Wednesday he'll be asking his "accountant" about his "portfolio" and by this time next week you'll be no further forward.

If this is too hardcore for you, then how about,ultimatum, exchange by Friday or its off and instruct EA new viewings begin Saturday. I simply don't believe a cash buyer can't get the deposit by then, and if he can't he's effectively not really a cash buyer.

MissusP_2

AnotherJoe wrote: »

How many answers do you want? How many times has this joker given you answers already? The only way you'll get an actual answer that means anything is if you call this guys bluff and put it on again now. It's the weekend I bet the EA has several buyers who are raring to go. At worst because you need to be upfront with them, you can get them lined up as alternatives. If you wait for answers today here's my forecast, first of all guy can't be contacted this weekend, then by about Wednesday he'll be asking his "accountant" about his "portfolio" and by this time next week you'll be no further forward.

If this is too hardcore for you, then how about,ultimatum, exchange by Friday or its off and instruct EA new viewings begin Saturday. I simply don't believe a cash buyer can't get the deposit by then, and if he can't he's effectively not really a cash buyer.

Sorry for delayed reply. As predicted we have no news. I am on the edge! So we used your suggestion as an ultimatum. Thanks. APPARENTLY the EA called to give the ultimatum of exchange by Friday but as of 3pm yesterday the buyer hadn't returned his call. Rah! So my husband and I are going to go to the EA office first thing tomorrow morning and talk to them as I feel I can't be fobbed off as much in person and I'll even stand over them while they call the buyer. We so desperately need a resolution.

Thank you everyone for your continued advice!

Floxxie

Why not just call your solicitor and ask them to get confirmation of the other side's position...and put your ultimatum forward while you are at it?

Buyers will tell the EAs anything they want to hear

MissusP_2

Floxxie wrote: »

Why not just call your solicitor and ask them to get confirmation of the other side's position...and put your ultimatum forward while you are at it?

Buyers will tell the EAs anything they want to hear

I did ask the solicitor last week and apparently they don't see or have anything to do with the buyers money situation. But thank you I will do that!

Floxxie

No they don't see it, but they can ask.

thesaint

Newly_retired wrote: »

<snip>
So it is perfectly possible that the buyer's circumstances are legitimate.

Of course it is, but if you were a betting man, would you bet that this buyer is telling the truth?

If he is, why is he elusive and evasive?