Back on market after exchange!

[Deleted User]

Can a seller put their property back on the market after exchange of contracts and deposit paid?

There was some delays at the sellers end but they were blaming the buyer for the delays. Seller was threatening to put property back on market if things didn't move along more quickly even though it was the sellers solicitors fault.

Fast forward and exchange of contracts were done last Friday with completion scheduled for next Friday. This evening however the seller has relisted the property for sale on RM/Zoopla with an online agent.

Marktheshark

You get your solicitor to send an indemnity of scheduled loss to the party solicitors of the seller including things such as rent on a temporary accommodation whilst you seek a new property.

As this can be substantial, if they have a solicitor who has not fallen asleep at the wheel they will be foolish to ignore it and not complete

Thrugelmir

Deleted_User wrote: »

Can a seller put their property back on the market after exchange of contracts and deposit paid?

They can It's their choice. Not advisable though.

hazyjo

Their solicitor is gonna give them a right b********g! The numpties have prob paid the online agent upfront or been tied in to paying within a year or whatever.

Jx

eddddy

Deleted_User wrote: »

Fast forward and exchange of contracts were done last Friday with completion scheduled for next Friday. This evening however the seller has relisted the property for sale on RM/Zoopla with an online agent.

If contracts are exchanged, it's almost certainly just a mistake or misunderstanding somewhere.

moneyistooshorttomention

I would be onto the sellers in your position - expressing "puzzlement" at such an odd course of action and reminding them of the penalties they would experience if they didnt go ahead.

Done via my solicitor - rather than doing it directly myself - as I'm not a tactful person and would blast their little heads off for having done that in no uncertain terms in your position. Hence - getting my solicitor/legal executive to do this for me (perhaps via their solicitor? - who is in a better position to remind them just how much they've got to lose if they try to withdraw now).

AdrianC

"Listing it on RM" means nothing. It's just an advert, no more. Get in contact with the online agent, and say "Do you know that...?" - and watch how quickly the ad disappears.

The fact remains that there is still a contract extant, signed by both parties, for the purchase - with penalties in place for whichever side causes the contract not to be completed.

[Deleted User]

It's a cash purchase with no chain (older relative, not me).

The transaction could have been done and dusted 1-2 months ago. But due to the seller and their cheap online conveyancing company, there has been delays after delays when our solicitors have been requesting paperwork for various things.

In the meantime the seller was contacting us directly first blaming us for the delays, then accepting it was their end, before blaming us again and threatening to put it back on market if we don't hurry up. Since the exchange we haven't heard anything from them until it popped back up on the property portals.

davidmcn

No reason why they can't remarket (or never stop marketing), but they'll be in breach of contract if they don't complete on the due date (assuming the purchaser is in a position to do so).

DaftyDuck

If it has actually been remarketed, it may just be an advertising ploy by the agent, and get marked up as "sold" by the clever agent after a couple of days.

Online agent may be owned by high street chain...

PasturesNew

I bet it's an employee/Rightmove error. Somebody was in a rush, clicked the wrong thing and didn't realise as the phone rang/it was lunchtime.