ready, willing and able buyer estate agent clause

ro2778

I'd quite like this to just end now, I don't need financial advice, I don't care whether the completion goes through or not. If he doesn't buy I'll just rent the place. I just need something to happen and if he doesn't meet the deadline can I pull out and claim the buyer wasn't ready willing and able? That's all I want to know.

PS. If it wasn't for the estate agents clause as per post #2 then I would have pulled out back in August which is probably reasonable. However, when faced with the option of pulling out and a bill for 2k to the estate agent, or keep on looking, I kept on looking. I've found a place I'm happy with and now it seems to have gone all quiet on the buyer side. Hence this post.

CommitedToChange

No. I'd say you'll be liable as you've made no attempt to meet them in the middle with a completion date.

ro2778

They haven't come back to me so there's no middle to meet. Perhaps I'll discuss that when I call later.

PasturesNew

Ultimately .... life sucks - and their "willing and able" buyer isn't "willing and able" under your changeable terms. It's therefore not your fault, in my opinion, if they pull out of the deal.

On balance though, I think you're being unreasonable and should have made your own arrangements to move into a 2-week (holiday) let and put your stuff into storage just to get yours sold.

This isn't really about contracts, it's about people - and, quite frankly, you've been a bit of an 4r5e messing people about "on a whim". Yes that's your right, but you're treating the other people with a bit of "contempt" and are stamping your little feet to get your own way.

Just move and let them have your flat FGS.

hazyjo

ro2778 wrote: »

I haven't heard anything from the estate agent regarding whether the buyer is willing to complete on January 24th since I made that demand.

I spoke to my solicitor yesterday and they have not had any contact from the buyer's solicitor.

Ring the EA now and see what the current state of play is. If your buyers are stalling or pulling out, you won't have to pay the EA's fee.


If they're buying, get some exchange/completion dates.


Have you signed the contract (through solicitor)? What else is outstanding?

ro2778

I don't understand where the idea of me not moving is coming from. If the buyer completes on 24th January he has a flat, he's had 6 months to prepare and chase his solicitor. The estate agent was pressuring me to complete mid January - presumably because that's what the buyer wanted - and I agreed to complete next week.

It's just that, at this late stage, there is no communication so I'm wondering if the buyer will complete and therefore I wanted to know should that be the case can I pull my property off the market and not be liable for this EA fee?

hazyjo

You're giving him one date. That is totally unreasonable. He may not be able to get that day off work - who knows why. Why couldn't you do any of the other days? How come you get to refuse several dates around mid-Jan but he can't refuse one? Have contracts been signed ready for exchange?

ro2778

It seems like the buyer is still interested but making no progress with his solicitor who is away this week.

I asked when his mortgage offer runs out and it's 31st January so I offered to extend the completion date to then. If he wants to reapply for a mortgage after this date then I would even consider that because the message I'm getting from the estate agent is the buyer's solicitor is useless.

I suppose if we get to the end of January and his mortgage offer runs out then he really won't be a ready willing and able buyer and therefore I would have to decide whether to be nice and sell it to him, or be fed up and pull out.

eddddy

ro2778 wrote: »

It's just that, at this late stage, there is no communication so I'm wondering if the buyer will complete and therefore I wanted to know should that be the case can I pull my property off the market and not be liable for this EA fee?

You're changing the question a bit.

If the buyer withdraws, you don't have to pay a fee and you can take the property off the market.

If you withdraw on 25th January or on the 31st January, you probably will have to pay a fee.

(If you become really awkward, the buyer might withdraw as a result - and you wouldn't have to pay a fee. But that's a whole different discussion.)

jimbog

If you want to take it off the market without paying a fee tell the buyer the selling price is now £100,000 more