Offer Accepted - but won't take it off the market

Murphybear

Horns of a dilemma springs to mind.

The sellers won’t proceed with SSTC until the buyer gets a survey.
The buyer won’t get a survey until the seller proceeds with SSTC.

Dean000000

Murphybear wrote: »

Horns of a dilemma springs to mind.

The sellers won’t proceed with SSTC until the buyer gets a survey.
The buyer won’t get a survey until the seller proceeds with SSTC.

Which is why I wouldn’t deal with a seller on those terms.

Worse case seller has property up for a week and nothing happens.

Worse case buyer weighs out a grand for surveys only to be gazumpt and forced to either pay even more, or walk away from wasted money. Double loss.

Mr.Generous

And all these I'd insist on X,Y and Z or else … presumably would get a legally binding contract drawn up for these conditions? Buyers and sellers can say all sorts, commit to anything etc but until exchange of contracts nothing is binding.

When I'm buying I want the agent to stop marketing the property, when I'm selling I don't. Either way you're not in a position to insist on anything. Any buyer telling me to do something or they will walk away I'd think they are going to walk anyway. Any seller putting conditions on I'd leave my offer on the table and keep looking.

Try buying a repo when the agent updates the website with details of the agreed price inviting better offers and giving a deadline to submit them.

We've had buyers just disappear and sellers change their minds. For me its a business and I don't take it personally, particularly not whether the agents suit is shiny or not, for them its a job. Agents act on a mixture of client instruction and experience.

Dean000000

Mr.Generous wrote: »

And all these I'd insist on X,Y and Z or else … presumably would get a legally binding contract drawn up for these conditions? Buyers and sellers can say all sorts, commit to anything etc but until exchange of contracts nothing is binding.

No - I said I would make my demand, and if it wasn’t met I’d walk away.... I don’t think anyone on here has stated it as a contractual arrangement.... both parties are free to change their mind at any point.

I’m afraid where I’m concerned, it’s my way or the high way - and I’d be walking from any indecisive buyer, or seller.

It’s not how I behave as either a buyer or seller, so won’t deal with people hat I believe are being unreasonable. That’s all

martin1959

kinger101 wrote: »

QED. That's why any offer I make will only stand if it's marked SSTC/under offer. Don't want to risk wasting money on vendors like you proceeding multiple offers.

But you won’t waste any money will you. I have already said, once valuation is carried out, or searches are paid for and requested (which is the first time you would lose money) it will be taken off the market.

Maybe you could look at how the house buying process works to give yourself a better understanding of when you will actually ‘lose money’.

Mickygg

I would go in with my terms, take off market and no more viewings.
In the middle of the survey someone could ring up and offer more, then you may lose survey money.
Say you will do survey within a time frame.

kinger101

martin1959 wrote: »

But you won’t waste any money will you. I have already said, once valuation is carried out, or searches are paid for and requested (which is the first time you would lose money) it will be taken off the market.

Maybe you could look at how the house buying process works to give yourself a better understanding of when you will actually ‘lose money’.

I know how it works. I've done it three times already with no major issues. Thank you for your condescension, but you'll see many on here are in the same camp as me.

bertiewhite

I had similar with a property I looked at - the vendor wanted either a survey booking or solicitor instructing before taking it off the market, although the EA did say it would be advertised as SSTC and they wouldn't conduct any viewings during that time.

AFAIA, properties don't get completely taken off the market until exchange anyway - they're usually still viewable as SSTC, especially on places such as Rightmove.

kinger101

bertiewhite wrote: »

I had similar with a property I looked at - the vendor wanted either a survey booking or solicitor instructing before taking it off the market, although the EA did say it would be advertised as SSTC and they wouldn't conduct any viewings during that time.

AFAIA, properties don't get completely taken off the market until exchange anyway - they're usually still viewable as SSTC, especially on places such as Rightmove.

They are, but you have to check a box on the search to look for SSTC. Most buyers aren't going to look at these, unless they're curious, stupid, wreckless or money is no object.

bertiewhite

kinger101 wrote: »

Most buyers aren't going to look at these, unless they're curious, stupid, wreckless or money is no object.

Or my wife, who still likes to see what's around in case they fall through like our last property did.