House offer accepted but vendor won’t take it off the market

donkey388

Hi all

I placed an offer on a house, but as the vendor has been messed around previously, they said they’re not willing to take it off the market. Instead, the estate agents said they won’t schedule any viewings.

Normally I’d walk away from this deal, however, I really like the house and the market in the area is super competitive at the moment.

Do you have any tips?

In order to limit the potential damage, I’m looking at ‘no sale, no fee’ Conveyancing and adding the mortgage fees to the mortgage.

[Deleted User]

Just concentrate on completing as soon as you can. Then no one else can buy it unless you sell it to them.

jonnygee2

I really like the house and the market in the area is super competitive at the moment.

Even more reason to walk away then, the likelihood you will be gazumped is even higher.

I guess you have to tot up the fees etc that you'll have to pay and then decide if it's worth spending all this on a punt that might, but probably won't, lead to you getting the house.

sammyjammy

Have they said on what terms they will remove it from sale? If this went on for a while they are just likely to annoy prospective buyers who are told they cannot view!

LadyDee

It's been my experience that the practise of holding off on viewings is not unusual, and having been on the receiving end of a buyer messing me about, I can well understand the vendor's reluctance to take the house of the market.

Do keep the agents up to date on your mortgage application and so forth so they can in turn reassure the vendor that things are progressing.

donkey388

Thanks all, yes that's my plan - do everything as quickly as possible and keep the estate agents + vendor informed.

I'm also considering popping around to the vendors house so that I can instil more confidence (and potentially provide them with my number for direct contact). I've asked the estate agents (EA) if we can setup a meeting with the vendor and they declined saying we can only talk via them.

Normally I would walk away, but so few houses within my price range have been listed. Typically, houses in this area are listed on RightMove for a day or 2 before they're under offer (which is why I'm more annoyed the vendor wont take it off the market).

When I questioned the EA as to why they wont mark it as 'Sold STC' they spun me a load of cr*p saying that they dont do that for any of their properties. When I told them about approx 10 properties on rightmove they have listed are 'Sold STC' they stated that the vendor has been messed around by 2 buyers already and is reluctant to take it off the market.


My question is, if I do the following, am I right in assuming the potential loss would be minimum:
- Add the mortgage arrangement fee to the mortgage
- Go with a 'no win, no fee' conveyancer

I would then only have to take the full hit on a property survey.

Mickygg

Whenever I offer the number 1 condition is that should the offer be accepted the house must come off the market. If my condition is not met (up until now it has been on 5 buys ) then my offer is withdrawn.
If it is not withdrawn they are hoping for a better offer and sod paying for a survey just to be gazumped.

Sibz

Just as Mickygg says... completely standard in my experience (buying and selling) that offers are subject to the property coming off the market.

Anyone can try to leave all the risk with the other party but that just completely removes any trust from the whole situation. I also wouldn't trust an EA/vendor not to arrange a viewing afterwards. They are entirely entitled to check if you are proceedable if they are worried.

Another reason they could be playing it this way is if there's something that's showing up on surveys that's putting people off. So they're trying to keep the 'conveyor belt' of potential buyers moving until they find someone who either overlooks the problem or rushes into the sale without a survey because they feel like they might miss out on the property.

Clutterfree

Ask a friend to telephone the EA about the house and see if they are told it is SSTC or if they are offered a viewing.
Then you’ll know if the EA is being honest with you or if you’re likely to get gazumped further down the line.