Why Lie???? - Other buyers please dont do this to your sellers!

Cuddlybearman

Ok long rant - some of you may have seen my situation waiting to get this process over and done with. But i'm so fed up with where i'm at i had to send a plea out to any perspective buyers to not do what has been done to me. 

15th October - received an offer from a very keen and seemingly prepared BTL buyer.
17th October - he applied to his lender for the mortgage with a 25% deposit and instructed his solicitor
26th November - he called to say that his bank wanted more deposit from him and he was going to another company................LIE!!!
 - what actually happened was he never had enough deposit and it was always a 70% LTV situation
17th Dec - called to say that the bank was doing a drive-by valuation...................LIE!!!
 - there was no mortgage in progress - he had spent the last month trying to raise more money for a deposit and still didn't have enough
6th Jan - got a call to say the bank had valued my house £25K less than he offered and was i willing to drop my sell price to compensate. After some back and forth we agreed on my dropping it by 8K and he would find the rest..........................LIE!!!!!
 - actually he wasn't able to get enough extra money together and was seeing if i could cough up the short fall. When i couldn't he went off to find some more
22nd Jan - got a call to say that the bank now wanted to do an onsite valuation rather than the drive-by one.....................LIE!!!
 - this is actually just the valuation from a new application at the beginning of Jan (which is still not booked in)
22nd Jan - was told that he was fed up with his solicitor taking so long and has gone and got a new one....................LIE!!!!
 - actually he had never sent his paperwork back to the solicitor so they had done absolutely nothing for 3 months

All of this was going on while me and the EA were completely in the dark. I have carried on with my side of things and as of today i am completely ready to exchange as is my vendor. I'm in a catch 22 now where i cant put my house back on the market because a) too late to catch the stamp duty holiday and b) the buyer i do have could just walk away in protest and even if i did put it back up - where i live i will just be swapping him for another person with more drama.

I know most of you on here are nice people - but if anyone is finding themselves in situations where things aren't working out as you thought - please just be honest with your buyer. That way you don't leave someone like me literally unable to sleep because i still don't believe anything that i'm being told!!

wargrip

Where is Maury Povich when you need him?
"You said that you had the valuation booked in. The lie detector determined (opens envelope)... that was a lie!"

pbhb

It works both ways, you’ve aimed this at buyers but no one should lie. I had two house sales fall through due to the sellers and their agents lying straight to my face. It’s extremely frustrating but humans can be idiots unfortunately 

Jaynorth_2

Personally I think that your EA should have kept a closer eye on your buyer. Usually they don't take a property off the market until a survey has been booked. If after 4 weeks the survey still has not been booked as what looks like was the case here, the EA should have been following up to find out what was going on and protecting your interests as a seller.

knightstyle

We have been let down three times whilst selling our house, both times by 'investors'!!!   I now will not accept this sort of buyer and would wait for a genuine buyer even if it means less money.

Cuddlybearman

Jaynorth_2 said:

Personally I think that your EA should have kept a closer eye on your buyer. Usually they don't take a property off the market until a survey has been booked. If after 4 weeks the survey still has not been booked as what looks like was the case here, the EA should have been following up to find out what was going on and protecting your interests as a seller.

To be fair to my EA hes been in contact with him almost daily. And actually we did have a survey done because they came here but that looks like that was for the first application which then turned him down. Since then we've just been strung along it seems.

fewcloudy

Cuddlybearman said:

Ok long rant - some of you may have seen my situation waiting to get this process over and done with. But i'm so fed up with where i'm at i had to send a plea out to any perspective buyers to not do what has been done to me. 

15th October - received an offer from a very keen and seemingly prepared BTL buyer.
17th October - he applied to his lender for the mortgage with a 25% deposit and instructed his solicitor
26th November - he called to say that his bank wanted more deposit from him and he was going to another company................LIE!!!
 - what actually happened was he never had enough deposit and it was always a 70% LTV situation
17th Dec - called to say that the bank was doing a drive-by valuation...................LIE!!!
 - there was no mortgage in progress - he had spent the last month trying to raise more money for a deposit and still didn't have enough
6th Jan - got a call to say the bank had valued my house £25K less than he offered and was i willing to drop my sell price to compensate. After some back and forth we agreed on my dropping it by 8K and he would find the rest..........................LIE!!!!!
 - actually he wasn't able to get enough extra money together and was seeing if i could cough up the short fall. When i couldn't he went off to find some more
22nd Jan - got a call to say that the bank now wanted to do an onsite valuation rather than the drive-by one.....................LIE!!!
 - this is actually just the valuation from a new application at the beginning of Jan (which is still not booked in)
22nd Jan - was told that he was fed up with his solicitor taking so long and has gone and got a new one....................LIE!!!!
 - actually he had never sent his paperwork back to the solicitor so they had done absolutely nothing for 3 months

All of this was going on while me and the EA were completely in the dark. I have carried on with my side of things and as of today i am completely ready to exchange as is my vendor. I'm in a catch 22 now where i cant put my house back on the market because a) too late to catch the stamp duty holiday and b) the buyer i do have could just walk away in protest and even if i did put it back up - where i live i will just be swapping him for another person with more drama.

I know most of you on here are nice people - but if anyone is finding themselves in situations where things aren't working out as you thought - please just be honest with your buyer. That way you don't leave someone like me literally unable to sleep because i still don't believe anything that i'm being told!!

I think the sort of buyer who would LIE!!! as you say it, is probably not the sort of person who will reform and no longer do this as a result of your long rant (your words). And they are prospective buyers, not perspective buyers.
Yes it is frustrating and stressful, house buying and selling often is.

JessJ23425

Cuddlybearman said:

 - actually he had never sent his paperwork back to the solicitor so they had done absolutely nothing for 3 months

Sounds very frustrating, on this point thought - how did that happen? Did your solicitor not speak to his solicitor for 3 months? If they hadn't received anything well before that I'd have been starting to worry a lot sooner.

Cuddlybearman

JessJ23425 said:

Cuddlybearman said:

 - actually he had never sent his paperwork back to the solicitor so they had done absolutely nothing for 3 months

Sounds very frustrating, on this point thought - how did that happen? Did your solicitor not speak to his solicitor for 3 months? If they hadn't received anything well before that I'd have been starting to worry a lot sooner.

Yes my solicitor has sent his solicitor one email way back in October - but then disappeared for 2 months. I only just had contact with them again in the last week now they have my paperwork sorted. Its a combination of shoddy customer service and nut-job people. I'm completely sick of the whole thing and wish i'd never even bothered starting the process. I can see this going south, getting to the end of the Stamp Duty Holiday which will mean i have to call a day on the whole thing and pay an agents and legal fee just for the pleasure of being stressed out for 6 months.

Thrugelmir

Welcome to the real world. Surprised you progressed your purchase in the absence of your buyer obtaining a mortgage and progressing matters. Sounds as if someone is trying to back you into a corner. With the SD deadline looming. 

lookstraightahead

Well, as I've said, I'm a buyer and my seller doesn't even own their garden. 
Maybe the pressure for buyers to have everything in place prior to any valuations or surveys etc is leading them to tell porkies.