Exchange, completion and funding rented.

HampshireH

....or what?. Is the buyer going to withdraw & start again elsewhere including having to fork out all her legal fees for just a few weeks longer?

I think they are trying it on. However you obviously run the risk of her pulling out of you can't agree.

How much interest have you had since you put it back on the market?

Danielle1985x

If I’m honest I wouldn’t care if she pulled out, she has messsd me around enough. I’ve had a few viewings but the estate agents are fixed on this one buyer, so I think they are holding back. I don’t feel they are on my side, which I’m sure is the case with most but I’m planning to put it up with another agent.

bris

Danielle1985x wrote: »

If I!!!8217;m honest I wouldn!!!8217;t care if she pulled out, she has messsd me around enough. I!!!8217;ve had a few viewings but the estate agents are fixed on this one buyer, so I think they are holding back. I don!!!8217;t feel they are on my side, which I!!!8217;m sure is the case with most but I!!!8217;m planning to put it up with another agent.

Problem is your contract with the current agent, they have a buyer ready to proceed, they are due the commission on that. Read the contract, you will find this in there.

Cakeguts

Tell them that you want to exchange on Monday 26th with completion in April?

Danielle1985x

I understand that the estate agents have a buyer that is ready and willing, but she was not at the time when I placed the house back on the market as she was messing around. As the house is still on the market, surely they can’t still be due their commission. And I’m also advised them beginning of March that I actually did not want to carry on the sale to her, but they failed to advise her, so she carried on with paperwork etc.

G_M

As others have said, your buyer has more to lose. She has spent £1000+ on a mortgage application, legal fees, maybe a survey, etc.

So if the deal collapses, she will be out of pocket. Plus have to start looking again.

She has been unreasonable in her delays, and now is being unreasonable in her requested timescale.

Tell her you'll agree provided she covers your costs. Rather than a vague 'pay for hotel/storage /whatever' and relying on cash re-imbursement later (which wll never materialise) just put up the price.

Give her a choice

1) Exchange and Complete in her timescale, but with £1500 (or whatever) extra on the sale price, or

2) Exchange and Compete in a reasonable timescale, set by you, at the original price

Let her choose.

silvercar

If her mortgage offer really does expire 13 April, with no option to extend then this may not be a bluff.

Whether you go for it or not should depend on whether you think you have a reasonable chance of securing a new buyer at the same or higher price in the next few months.

Danielle1985x

Another thing to mention, my estate agent called this morning to tell me that if I want a 5 week completion, I’m going to struggle with any buyer as most time from exchange to completion is a week, two at max. Is this them just trying to push me or is it the truth? I mean, I can’t be the only person that’s ever been in this situation and I know it takes more than two weeks usually to sort out a rental especially with checks etc.

G_M

Danielle1985x wrote: »

Another thing to mention, my estate agent called this morning to tell me that if I want a 5 week completion, I’m going to struggle with any buyer as most time from exchange to completion is a week, two at max. Is this them just trying to push me or is it the truth?

them just trying to push me

victoriavictorious

Danielle1985x wrote: »

Another thing to mention, my estate agent called this morning to tell me that if I want a 5 week completion, I!!!8217;m going to struggle with any buyer as most time from exchange to completion is a week, two at max. Is this them just trying to push me or is it the truth? I mean, I can!!!8217;t be the only person that!!!8217;s ever been in this situation and I know it takes more than two weeks usually to sort out a rental especially with checks etc.

Your estate agent is talking a load of cobblers. Completion can be whatever is mutually convenient for all the parties, not just for the convenience of your timewasting buyer / estate agent. We have always gone for a full 4 weeks after exchange as it gives us time to arrange removals, pack and organise everything.
Do you not have a solicitor to deal with all these matters? How come your estate agent is calling the shots regarding matters outside his/her remit and not in your, their client's, best interests , just because they want their commission *now?*
Apart from anything else, I'd be telling him/her to stop overstepping the mark or you will be making a formal complaint.