Not Confident on Chain ..No Trust on EAs...What should I do..?

rik111

. (2) I never believed my buyer as a serious buyer as they visited house only once and offer came after my Notice to EA.

But now you are saying you will give notice to EA.

So which is it, you have already given them notice or going to give them notice ? Need to tread carefully, especially if agent has a clause about introducing a proceedable buyer and you pulling out....

Doozergirl

rik111 said:

Ignore comments about having to pay EA fees. First check your contract if you gave sole selling rights or sole agency. If sole agency and the new buyer was not introduced or registered to current EA , no fees to pay. If sole selling rights you may still not have to pay them as you gave notice and found this buyer after their notice period expired. If not happy pull the plug and save the EA fees. 

Completion before Christmas doesn’t sound realistic so if jumping ship don’t get your expectations up !

Why ignore? 

Sole selling rights etc are irrelevant at this point because most agents will have a 'ready, willing and able' clause that entitles them to their fee if the vendor pulls out of the purchase on a ready, willing and able buyer.   This is where the OP currently sits.  The sole agency agreement is a separate issue.  

We've got an extremely sensitive OP here.  We are barely at the 'average' time for exchange and completion (which naturally gets longer with a chain and with Covid) and the OP has been panicking since the beginning, with 20 threads.   

OP, your thoughts are not truth.  You must not always believe them!! 

The suggestion that the EA gets two sets of fees is absurd.  The buyer gets a discount but then has to pay it to the estate agent?  Come on.   You think you're separating from this but you're not as your thoughts are unreasonable.  

rik111

@Doozergirl see my second comment. Take your point now seeing all the threads by this seller. Starting to feel really sorry for the EA...

sujsuj

rik111Splatfoot said:

So you're going to pull out of the purchase with your buyer? 

I am not pulling out ..Its failing already my EA is just keeping it floating now so that their SOLD board is kept with my property longer as advertisement . So I just have to give them ultimatum before their next trick and then make everyone aware of the situation. All searches and all work by all parties completed 3 weeks ago. I don't need to pull out!! Its dead horse already.

sujsuj

rik111 said:

Ignore comments about having to pay EA fees. First check your contract if you gave sole selling rights or sole agency. If sole agency and the new buyer was not introduced or registered to current EA , no fees to pay. If sole selling rights you may still not have to pay them as you gave notice and found this buyer after their notice period expired. If not happy pull the plug and save the EA fees. 

Completion before Christmas doesn’t sound realistic so if jumping ship don’t get your expectations up !

Yes I checked I am very clear. 

sujsuj

hazyjo

Well it was two years for my vendor, so be careful.
The deposit issue, people sue down the chain. You'd have an enormous claim on your buyer. Not just your deposit.

Why should I go through that pain if I can have an easier exit and stop my sleepless nights. I am feeling i should continue in my current house. Only thing I make sure is I get formal communication from EA saying its over. I know its over & EA also knows it. So its just get it formally.

hazyjo

sujsuj said:

hazyjo

Well it was two years for my vendor, so be careful.
The deposit issue, people sue down the chain. You'd have an enormous claim on your buyer. Not just your deposit.

Why should I go through that pain if I can have an easier exit and stop my sleepless nights. I am feeling i should continue in my current house. Only thing I make sure is I get formal communication from EA saying its over. I know its over & EA also knows it. So its just get it formally.

I think you're being paranoid.

Why do you think the chain will collapse?

Serious question, how long did you think the process from start to finish would take? What exactly are you waiting for now?

You're not sounding very patient. These things take time!

sujsuj

eddddy said:

You haven't really explained what the problems are with your sale.

It sounds like... your property is under offer, but you are worried about your buyer, or a buyer lower down the chain.

Why are you worried about your buyer and/or a buyer lower down the chain? What are they doing that has worried you?

It sounds like somebody in the chain below might be trying to reduce their offer - but that's not your EA's fault.

What is your EA doing that is harming your interests? (And why do you think the EA would want to harm your interests?)

As I said there is a weaker link in the chain & my great EA. I don't know weaker link is really weaker or cleverly holding everyone for random as they know some people will do compromise to get their 'loved' property at any cost!! 

sujsuj

badger09 said:

@sujsuj
Without wishing to be cruel, I am so pleased you are not part of my chain. I really think, for the sake of your own wellbeing, you need to take a step back. Perhaps discuss your concerns with a trusted friend or relative for a different, more balanced, perspective.
Good luck

(Context: OP joined forum in July and has started 20 different threads.)

Yes I am axious, but I never gave any trouble for my EA for anyone in the chain.

sujsuj

Caramac said:

It’s too easy in your position to not see things rationally. Since I have started the buying/selling process I have been trying to force myself to be totally dispassionate about the whole process (though not with much success).

When we bought our current house we only viewed once as I was familiar with the type of house, and also because I didn’t want to become too excited about it because we had a previous purchase fall through. 

No just one viewing thing ..No survey done either on the property & It seems some EA/Mortgage advisor gave some desk Survey and thats it. Lender agreed for mortgage it seems.  so no trustworth information. Other EA also equally bad it seems.