We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Lock out agreement
Options
Comments
-
Yes, the money would be sent to the estate agent to hold until completion.steve866 said:Is the money being sent to the estate agent to hold? Is the market still heated in your area?
I do not think that the market is particularly heated atm, but I believe the property is well priced for the area, that’s why I was initially keen to agree on the terms to provide some certainty.0 -
Just keep picking at the flaws in the agreement.
By the time you get them all fixed you should have bought the place.3 -
Absolutely thiseddddy said:
As others have mentioned, you need to quiz the EA on why the other 2 sales fell through.
In the worst case, does the seller ask for a £2k deposit from each buyer - then 'drop a bombshell' which makes each buyer withdraw - and the buyer earns £2k each time for doing nothing?Could you agree, but ask for a similar agreement whereby they need to pay £2000 deposit to you which will be retained if the seller decides not to sell?
To make the agreement fair, there would need to be a list of circumstances which would result in the seller losing their deposit...- The seller has decided not to sell to the OP
- The seller has made a misleading statement about the property - and as a result the the OP is withdrawing
- The seller has omitted to disclose material information - and as a result the the OP is withdrawing
- The seller is introducing new conditions to the sale, which were not previously disclosed
- The seller is not ready to exchange contracts by xx/xx/2022
An answer isn't spam just because you don't like it......0 -
magicmcone said:
Yes, the money would be sent to the estate agent to hold until completion.steve866 said:Is the money being sent to the estate agent to hold? Is the market still heated in your area?
I do not think that the market is particularly heated atm, but I believe the property is well priced for the area, that’s why I was initially keen to agree on the terms to provide some certainty.
I see no penalty in that agreement for the vendor if they do accept a gazumper after all, either declaring you are taking too long or just lured by £££. If you are expected to take their word, they should take yours...
But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll1 -
Honestly, that’s a very good one! 😂getmore4less said:Just keep picking at the flaws in the agreement.
By the time you get them all fixed you should have bought the place.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards