Vendor has put house back on market

daisymichelle

So we made an offer on a property which was accepted in dec we are now going through the sale process and are hoping to exchange shortly. There has been some delay as the buyer for my current property had to wait sometime for all the search results to come back. Unfortunately yesterday the estate agent of the property I am buying chased my estate agent for a chain update and we’re wrongly told him my buyer had pulled out and the chain was broken, this information was then relayed to the vendor who put the property back on the market. My estate agent have tried to explain the situation and apologised for their error as they mixed up my case with another and confirmed the chain is still intact however my vendor is now refusing to take the property back of the market as he has lost confidence in the sale. Although he will still exchange with us he still wants to let viewings take place on the property. Where do I stand here should i give an ultimatum and threaten to pull out. I don’t want to lose the property and I am so upset at my estate agent for causing all this stress. Any advice would be gratefully received? 

HampshireH

You need to hold your estate agent to account. They need to fix this.

Don't threaten to pull out as that just proves why they should  lose confidence.

How far away from exchanging are you?

[Deleted User]

how long does your solicitor think until you are in a position to exchange? 

daisymichelle

From my side I have been ready for a while We were given a date of 20 jan but with my buyer having to wait for the search results that date has been and gone, searches have now came back and all enquires were answered last week so my estate agent and solicitor are chasing to see what else is outstanding. they have had direct communication with my buyer who is also keen to exchange so not quite sure what the hold up is but I feel very nervous now with the house I’m buying being back on the market not sure what to do 

eddddy

You must have a super-stupid EA to make a massive mistake like that.  ( Are they some kind of cheapo online agent?)

If you're ready to exchange, you're already committed to all your buying fees. So maybe just sit-tight and tell your seller that you're still aiming to exchange contracts as soon as possible.  (If they were to accept an offer from another buyer, it's still likely to take 8 weeks or maybe much more for the new buyer to exchange. So, for the moment, you're still the seller's best bet.)

daisymichelle

No it’s 

A well known estate agent so I’m very shocked such a mistake could happen they are blaming it on a new lady who has only worked there a week apparently they are selling a couple of flats in my building and mixed the cases up. The property I am buying is a new build so chain free Im just worried a first time buyer might beat me to it if they can move quickly but I guess I have no choice but to ride it out and hope for the best

kinger101

^^^
It doesn't matter whether it's the new lady or CEO.  Apportioning blame to an individual in the firm doesn't alter the fact they've let you down.  Any finger pointing is an internal matter.  Their responsibility to you is collective.

If you are ready to exchange, I wouldn't worry too much.  Even if another buyer materialized tomorrow, they'd unlikely want to start the conveyancing process from scratch.  The exception might be if they receive a higher offer.