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Is our buyer messing us around or is it just unlucky

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Hi all,

I will try to keep this as short as possible.

Our buyer and his solicitor have been so slow throughout the process. We accepted an offer at the start of September and it is February and we still haven't moved due to them. He isn't selling a property so is only buying our flat.

We send his solicitor all the information the day after and it took them 10 weeks to reply with any queries (we should have known then!).

Then after waiting weeks and weeks for more and more queries, finally mid-January, he went in to sign all the forms ready for exchange (apparently). Then people further up the chan couldn't move until after 10th February.
Our buyers mortgage ran out at the end of January so we told him as soon as we knew(23rd Jan) that he would need to extend his mortgage. This took two weeks (I cannot believe it takes that long. it would be 2 weeks if you re-applied) and on Thuirsday last week they said it was all approved etc.

Today, they told our estate agent that Santander had had an internal error and the mortgage had been withdraw in error. In the meantime, his solicitor email's my solicitor saying they just need to provide a few more documents to confirm the extension.

I just cannot believe anything they say and to add another complication, my mortgage offer runs out on 19th February and will have to re-apply if not completed by then. I have tried to be pro-active in January and book an appointment with my lender but earliest they could do was 15th Feb.

Am I being stupid and these things usually take all this time? People at work are saying this isn't normal and shouldn't take that long and I have the patience of a saint! There is so much more I could say but I don't want to bore people even more. This buyer has messed us a round a lot as well as his solicitor being very slow. However, we are sooooo close now I don't want to jeopodise anything. However it just seems to be problem after problem with this person and I'm just waiting for the next thing. Maybe we won't be able to exchange because he has signed his name wrong or something............ If it wasn't so close to exchange/completion I would drop this buyer today.

We have a baby on the way in April/May and so have wrote these months off for moving so we need to move by the end of March. I know that sounds ridiculous but if we don't exchange this week, its most likely going to be March as I won't have my mortgage offer until then.

Someone just tell me i'm not going mad!! haha

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I'd issue an ultimatum to your buyer. Exchange or else. Sounds as if your buyer isn't being transparent. Your EA should have been on the case (if they are any good).
  • amnblog
    amnblog Posts: 12,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sounds very much like your 'buyer' does not intend to buy.


    Speak to your EA about finding another buyer.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • mjv1986
    mjv1986 Posts: 49 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I have the buyers email address. Is it worth emailing him directly.

    I didn't want to do it as the estate agents seem to be doing their job or getting our voices across bit it's the last straw!

    I feel the deal is going to fall at some point so surely it won't do any harm?
  • amnblog
    amnblog Posts: 12,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Can you trust what this buyer says. Speak to your Agent. They are being paid to secure a sale, not sit on their behind.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • nicholbb
    nicholbb Posts: 168 Forumite
    Part of the Furniture Combo Breaker
    edited 7 February 2017 at 8:57PM
    Don't email, agents are paid for this, they will likely will make up a sob story as amnblog said.

    Do what is right for you, if that is carry on a bit then skip the rest of my comment.

    They already have you emotionally invested and you have take on a business attitude. Is this person that is trying to buy this asset from you as an investment, a time-waster or just an inconsiderate d*ck? Who cares they mucked up the plans you had with your new baby.

    I'd instruct the current agent (that should have dealt with this so ask they lower their commission if sale falls through) to put the property back on the market from Thursday morning and tell them to let the buyer know you'll be happy if it works out but will be looking another buyer till then. This will focus the minds of, solicitors, buyer and agent.

    Heads up, major warning sign if change their offer, just walk away nothing is going to happen. If want payback then, if increase ask for 1/2 as non refundable deposit (to your solicitor) to keep off market for 30 days, that will be taken off sale price if exchange. Reduced offer then either waster or purposely dragged it out, aiming to corner you into accepting a lower price, instruct agent to counter with a 1% increase on original offer and increase 1% each subsequent offer even if it's back to original one but keep on market.
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