Is the EA and buyer messing around?

snowcat75

At the beginning of July I accepted an offer on a place, The property is rurally located so was a bit of judgment onto what to price it at as there's nothing comparable, I took a discount on the asking as the EA assured me the buyers could immediately proceed as there house had just exchanged and so were now cash buyers, I was reasonably keen to get it moved before winter as its empty and these places tend to be vulnerable.  

basics started with the solicitors various query's etc and beginning of August EA phoned me to say he'd done a chase up LA searches were back etc and he would phone around again next week with a hope of getting an estimate for exchange I did comment on a survey and he said I don't think there bothering. I heard nothing  until last week when the buyers surveyor wanted to book an appointment to look around the place.

At this point I started to smell a rat as waiting 7 weeks into the sale before getting a survey done is not someone preceding quickly. Survey was done end of last week so Tuesday I started to chase the EA and stated that I wanted to have in mind an exchange date even if its not set in stone or a month off or 6 weeks off... They were going to get back to me that afternoon they didnt, same conversation Wednesday and  yesterday...... I would have at least expected a call back even if was to say nothing.

My deep suspicions are buyers haven't actually exchanged at all, and could be months off doing so.

I don't take fools gladly and especially hate people that don't return calls even if its just curtesy to say nothing, Im  getting ready to pull the plug on the deal and outing the EA.... 

Thoughts?

AdrianC

I'm struggling to see why this is the EA's issue. They could very well be being given the runaround by the buyer.
What does your solicitor say about the state of the conveyancing? They're dealing with the buyer's solicitor...

Are you sure they said the buyer's sale had exchanged? At the moment, simultaneous exchange and completion are the norm - and even where that isn't the case, completion date is set at exchange. So where's the buyer currently living...?

ddonq1412

I know how you feel. i was in a chain of 3. My buyer according to EA was keen to get exchanged. that was in start of February it took them to July to get a mortgage offer in place. Lock-down did not help them. Since it them so long my seller had to change solicitors to throw another curve ball at this. My plan was to move back in April im now looking at October now. If they have survey completed at least there is some movement. A date is always a nice feeling to work towards.

Tiglet2

Conveyancing is a series of processes that need to be done before an exchange or completion can take place.  During the course of all these processes, a buyer will usually commission a survey on the property.  Whether that survey takes place at the beginning, the middle, or the end of those processes, doesn't have much bearing on how long the whole transaction will take, since all the other processes need to be completed too.  Obviously most people would prefer to have a survey at the beginning, in case it throws up any issues but otherwise the solicitor doesn't have much involvement with the survey, that is purely for the buyer's information.  The section in the survey which refers to legal advice, the solicitor generally would check anyway as part of the enquiries, i.e. certificates and warranties etc.  As "cash buyers", they may have decided not to do a survey and then changed their minds as the legal work got going.

The EA is acting for you, ask them if the buyer's sale has now completed because nothing you've said above indicates that they are trying to tie in their sale with the purchase.  I am not sure that "outing" the EA will achieve anything and to be honest 7 weeks into the conveyancing is still early days (when did your solicitor actually send the buyer's solicitor the draft contract?).

Bear in mind that just because someone is a cash buyer, it doesn't make the processes of conveyancing any quicker.  It's simply that there is no lender involved which takes out a few processes along the way.

snowcat75

Tiglet2 said:

Conveyancing is a series of processes that need to be done before an exchange or completion can take place.  During the course of all these processes, a buyer will usually commission a survey on the property.  Whether that survey takes place at the beginning, the middle, or the end of those processes, doesn't have much bearing on how long the whole transaction will take, since all the other processes need to be completed too.  Obviously most people would prefer to have a survey at the beginning, in case it throws up any issues but otherwise the solicitor doesn't have much involvement with the survey, that is purely for the buyer's information.  The section in the survey which refers to legal advice, the solicitor generally would check anyway as part of the enquiries, i.e. certificates and warranties etc.  As "cash buyers", they may have decided not to do a survey and then changed their minds as the legal work got going.

The EA is acting for you, ask them if the buyer's sale has now completed because nothing you've said above indicates that they are trying to tie in their sale with the purchase.  I am not sure that "outing" the EA will achieve anything and to be honest 7 weeks into the conveyancing is still early days (when did your solicitor actually send the buyer's solicitor the draft contract?).

Bear in mind that just because someone is a cash buyer, it doesn't make the processes of conveyancing any quicker.  It's simply that there is no lender involved which takes out a few processes along the way.

I understand the process, however the elusive nature of the EA is the thing that is becoming irritating  and iv been in business long enough to trust gut instinct that when calls are not being returned even to say nothing there's always a reason.
The draght contract was sent immediately as much of it was done, we had already had a sale fall through as it transpired there mortgage was rejected as they had used there perants bac to prove a deposit. 

Pulling from the sale may be cutting my nose to spite my face, but on a personal level I'm in 2 mind's if I should sell the place or re-let. I really don't like the buyers which wouldn't matter if the dwelling wasn't encompassed within ground I continue owning and I didn't feel the EA was taking the proverbal, or had been librel with the truth from the beginning.


I can't believe that someone couldn't put a stab in the dark estimation of completion within a month if someone's truly i  the position to buy.