Does this seem like a buyer who’s not serious?

lanbe

What about a potential buyer who tells the EA they like the property but won’t be offering due to x then later change their mind saying they decided to compromise on it and offer with solicitor and surveyors ready?  Why do all these buyers keep changing their mind? 

LAD917

user1977 said:

To whom? Sounds a bit odd, unless they're completely naive about how things work. You can't really have a deposit without some sort of contract detailing what it's for.

Possibly someone who didn't grow up in the UK or is accustomed to property practises in other countries?  E.g., in some places in North America, you send a cheque with your offer (cashed on acceptance) and then agree to fund a certain percent of the property purchase within 7-10 days.  What the buyer is offering to do - large deposit on the purchase price - would be a "normal" way to show seriousness in that market.

LAD917

lanbe said:

What about a potential buyer who tells the EA they like the property but won’t be offering due to x then later change their mind saying they decided to compromise on it and offer with solicitor and surveyors ready?  Why do all these buyers keep changing their mind? 

This has been me in the past.

Combination of: 1) negotiating tactics, 2) not being willing to make the compromise just yet, 3) ultimately needing to live somewhere that fits within budget/location/other constraints, and 4) sometimes having a new idea. 

E.g., what pushed me over the hump with my current property is realising I could convert a storage room to the little bit of extra space I needed.

user1977

LAD917 said:

user1977 said:

To whom? Sounds a bit odd, unless they're completely naive about how things work. You can't really have a deposit without some sort of contract detailing what it's for.

Possibly someone who didn't grow up in the UK or is accustomed to property practises in other countries?  E.g., in some places in North America, you send a cheque with your offer (cashed on acceptance) and then agree to fund a certain percent of the property purchase within 7-10 days.  What the buyer is offering to do - large deposit on the purchase price - would be a "normal" way to show seriousness in that market.

Might be. Suggests though they'll need led through the process.

Justonemorecupoftea

lanbe said:

What about a potential buyer who tells the EA they like the property but won’t be offering due to x then later change their mind saying they decided to compromise on it and offer with solicitor and surveyors ready?  Why do all these buyers keep changing their mind? 

I think it's fair to feel uncertain about a large purchase like this but some estate agents have a habit of rushing people to make decisions which they then second guess.

Also some people don't seem to understand the chain of events triggered by having an offer accepted so don't really and the emotional and financial impact of indecision.

I'd rather spend a week answering questions about my house and have no offer, than have an offer, start my onward purchase then have them pull out.

AdrianC

LAD917 said:

user1977 said:

To whom? Sounds a bit odd, unless they're completely naive about how things work. You can't really have a deposit without some sort of contract detailing what it's for.

Possibly someone who didn't grow up in the UK or is accustomed to property practises in other countries?  E.g., in some places in North America, you send a cheque with your offer (cashed on acceptance) and then agree to fund a certain percent of the property purchase within 7-10 days.  What the buyer is offering to do - large deposit on the purchase price - would be a "normal" way to show seriousness in that market.

That is part of "some sort of contract".

If it wasn't, then it'd just be a random gift of some money.