Last Minute Buyer Issues

pixiepeep

Hello

We're supposed to be exchanging today for our sale (we're moving into my in-laws while we try to purchase a new property after a catalogue of not fun things and sales falling through etc.) but our buyer, who suddenly decided to finally arrange a survey last week despite having his offer accepted in July, has decided there are a lot of problems now.

He's been pushing us for about a month to get out for a certain date. That date was yesterday. He wanted to be in before the kids went back to school. But we've been waiting on him. We have been ready to go since our last purchase fell through, contracts signed, the lot.

He wants to come over today to "discuss" the issues with the property. As far as I'm aware, the price we accepted was fair considering any work that needed to be done - there's a slipped tile on the roof and it could do with a new bathroom - we accepted 7.5k under what it had been marketed at (and 2.5k under the original valuation at the start of the year)

This guy is driving us mad, and we're incurring considerable costs for two lots of removals just to meet his completition date - he completed on his sale without discussing a date with us and seems to think we now owe him something because he's paying his buyer's mortgage while he's still there...

I don't really know what to say to him?! I'm in the mind to stand my ground and say no, the offer you made is for the house in its current condition, you saw the property 4 times and took far too long to arrange a survey. If you want the house, it's at the price we negotiated.

Does that seem wrong?!

Also, the surveyor was here for 20 minutes and the house is in pretty good condition, so I'm not sure what else could be so horrificaly wrong.

cloo

I'd call his bluff, he's just trying to get a last minute discount and hopefully he'll fold if you stand firm.

G_M

Was an estate agent involved?

I would not meet him, but would refer him to your agent - you''ll be paying them enough and that's their job!

I would also inform your agent

1) that if Exchange does not take place today or tomorrow, they should start marketing again. That might spur your buyer into action.

2) that you have no intention of re-negotiating price at this late stage (if that's what he intends to do).

anselld

Your instinct seem correct.
Also ask your agent to re-market the property.

pinkteapot

Any further discussion can be done via the EA or your solicitor. Do NOT let him come round - he'll probably push you to agree to a discount.

If he wants another viewing, get the EA to conduct it while you're not there.

Do NOT have direct contact with him - everything should be via the EA or solicitor. This is why it's never a good idea to exchange numbers with your buyer/seller (for next time).

Gobsmacked that he's sold and is effectively now renting the house from his buyer - and that the buyer's solicitor agreed to this! They probably don't know....

At this point, I'd just say exchange by X date or the property will be re-marketed. You'll still sell to him if he gets organised but if not, you'll accept new offers on it from other buyers.

cloo

G_M is quite right that this is what you pay the agent for and get them to deal with it. They'll have experience and it prevents it seeming too personal.

warby68

I'd stand firm unless there is something completely unexpected in the survey.

As you say the price and offer accepted already reflect the issues you know about.

Sounds like a chancer. If he's sold but can't move out he also sounds under more pressure than you!

Obviously we don't know if its a hard property to sell or you have some reason for needing this buyer and this timing, but on the information it seems not.

As others say direct him to the agent, this is their job, and tell the agent to remarket if exchange does not take place in 48 hrs (now original buyer requested deadline has passed)

Cakeguts

There is no point in discussing issues with you. Either he wants to buy the place or he doesn't. Refer him to your agent.

Hoploz

Definitely do not discuss anything with him, go via the agent.

If he is already in schtook having created some bizarre arrangement for himself on his sale, I'd think he would prefer not to start again from scratch searching for another property.

If you have no onward purchase to tie up, you have the upper hand here. It's no skin off your nose if you opdont sell to him, it's not like you're about to lose your dream home - HE is!

pixiepeep

We marketed through Purple Bricks so our agent has had very little to do with it since the sale. We also didn't have attended viewings, we did them all ourselves.

I'm tempted to hear the guy out, as he's bringing his survey report with him. I can't see the surveyor having valued the property at any less than he's offered.

I've just had a quote for the roof tiles to be fixed, and it's literally £250. Which is half what we're having to spend extra on a second lot of removals.

I'm not great at confrontation so I'm just a bit stuck here.

There's nothing wrong with the property, we just want it sold. We've had a mare of a time trying to find a property and wanted to be in a better position to bargain. Plus my husband is commuting 120miles a day (the reason we're moving at all) which is adding to our stress.

Should I be doing this through solicitors/EA? I don't really understand how it all works, and so far it's been easier to cut out the middle man and talk direct, but I swear this guy is potentially an actual idiot.

Hoploz

Really, purple bricks or not, try and avoid direct contact.

I had a sale fall through on the eve of exchange, all because the numpty buyer was not going to be able to complete on the day he had decided months earlier we would, not my fault - get this ... because his own buyer was not ready! My solicitor told me that was who was holding the chain up, the rest of us were ready to exchange.

He had come to the house shouting the odds, accusing me of all sorts, when all I wanted to do was move ASAP!

If you can put a middleman in between you and the buyer you can avoid confrontation - the EA can do his JOB and try to reason with all parties to keep the sale together. THAT is what you pay an estate agent for. Like you said, they've done virtually nothing up to this point!