Buying directly from a vendor

mariad2004

Hi,  I found a dream property but it is advertised directly by a vendor.  They also have some issues to sort out before we can exchange or even start the process of buying. Is there a way to ensure that if they accept my offer and I am prepared to wait,  they don't bail out of the arrangement just because they don't want to anymore?  I can be pretty certain they can take the proper off the market, but is there anything else a bit more legally binding at this stage?  
Any advice would be much appreciated 

[Deleted User]

Couldn't both solicitors draw an agreement if this is a definate business transaction ?
If it's not a definite yet you'd just have to wait like any other purchase etc.

davidmcn

What are their "issues"? I don't see what difference buying direct makes. A pre-contract contract is a daft idea, you'd spend weeks haggling over what the terms were to be. You might have reasons to pull out too. 

theartfullodger

Yes, easy, exchange contracts, that's what binds both parties.

mariad2004

davidmcn said:

What are their "issues"? I don't see what difference buying direct makes. A pre-contract contract is a daft idea, you'd spend weeks haggling over what the terms were to be. You might have reasons to pull out too. 

They are waiting for a probate to be approved.  

greatcrested

mariad2004 said:

Hi,  I found a dream property but it is advertised directly by a vendor.  They also have some issues to sort out before we can exchange or even start the process of buying.

If it's a probate sale, with Probate not yet granted, don't spend money yet on legals, survey etc. Probate can take a few weeks,few months, or even more than a year. They will doubtless say it's all be shortly sorted but you can't be sure.

Is there a way to ensure that if they accept my offer and I am prepared to wait,  they don't bail out of the arrangement just because they don't want to anymore?

No.

I can be pretty certain they can take the proper off the market, but is there anything else a bit more legally binding at this stage?  No.
Any advice would be much appreciated 

If you are prepard to wait, wait till they have shown you a Grant of Probate befoe you start spending money.

Meanwhile, keeplooking just in case this gets delayed and/or you find another/better property.

Thrugelmir

mariad2004 said:

davidmcn said:

What are their "issues"? I don't see what difference buying direct makes. A pre-contract contract is a daft idea, you'd spend weeks haggling over what the terms were to be. You might have reasons to pull out too. 

They are waiting for a probate to be approved.  

When did they apply?

pinkteapot

The fact it’s advertised direct makes absolutely no difference here. Even when buying via an agent you have zero guarantee the vendor won’t pull out until contracts are exchanged. Assuming you’re in England, not Scotland. 

Mutton_Geoff

mariad2004 said:

Hi,  I found a dream property but it is advertised directly by a vendor.  They also have some issues to sort out before we can exchange or even start the process of buying. Is there a way to ensure that if they accept my offer and I am prepared to wait,  they don't bail out of the arrangement just because they don't want to anymore?  I can be pretty certain they can take the proper off the market, but is there anything else a bit more legally binding at this stage?  
Any advice would be much appreciated 

You do realise that appearing too keen seriously weakens your negotiating position? I learned that when I first started dating, never mind house buying!

mariad2004

Thrugelmir said:

mariad2004 said:

davidmcn said:

What are their "issues"? I don't see what difference buying direct makes. A pre-contract contract is a daft idea, you'd spend weeks haggling over what the terms were to be. You might have reasons to pull out too. 

They are waiting for a probate to be approved.  

When did they apply

A week ago or so