Accepted an offer and buyer has gone quiet

twoLou

What an absolute pain for you.The one thing I’ve discovered in the last few months trying to buy and sell is to trust your instinct.

Has a memorandum of sale been issued by your estate agent?

 (It gives details of both parties and their solicitors)

I agree with most of the others on here that it is probably best to get your property back on the market especially if you have already found somewhere to buy.

user1977

No harm in remarketing in the meantime anyway - you only need to reconsider things when you get another offer.

Woolsery

For some, the thrill of the chase is more exciting then the capture.

Re-market asap.

Thrugelmir

eidand said:

Thrugelmir said:

Perhaps they are busily organising their mortgage offer. Nothing much is going to happen from your perspective initially. 

they can still send an update saying that. not replying at all when they should be most excited is definitely a bad sign.

We live in an impatient world. Why waste time "updating" when there's nothing to say.  In terms of a couple of weeks, that's not many working days. 

Sarah1Mitty2

eidand said:

Thrugelmir said:

Perhaps they are busily organising their mortgage offer. Nothing much is going to happen from your perspective initially. 

they can still send an update saying that. not replying at all when they should be most excited is definitely a bad sign.

They could have other things going on in their life that have distracted them?

london21

They might be having cold feet.

Might have to relist. 

Was offer a lot above asking price?

They might be arranging mortgage etc but at least communicate with EA etc. 

MysteryMe

It takes 15 seconds to respond to an email or send a text message.. No one is that busy in their lives and if nothing else it's common courtesy. If you were further down the line and had had previous coms etc and it's just gone quiet now then it's not too long to unduly worry but an offer and then silence at the very beginning of the process does not bode well. I'd put the house back on the market, if they are genuine they will soon get in touch.

Den1970

Just wanted to say thank you for all the replies and give an update. The buyer eventually replied to the estate agent and, as most of you expected, they have withdrawn their offer. From what I have been told they were hoping to extend the house and on investigating this (after they made the offer) they discovered they had underestimated the costs of doing this and they simply couldn't fund the house purchase and work. I am grateful for everyone taking the time to respond to me.

diystarter7

If that was my propert and buyer did not respond for 3 days max, by the close of business on the third-day property would be back on the market. However, it should never been taken off the market with the EA's I've used and instructed ie until there is evdience they have the funds in place and or sold their property or in the process of it ie offer accepted etc - otherwsie it is often a waste of time

What we have also noted is a buyer that comes alone does one visit and is a residential/family buyer makes an offer and ready to go often have cold feet. Serious buyer make an offer or do a quick 2nd visit and almost always works.

Den1970

diystarter7 said:

If that was my propert and buyer did not respond for 3 days max, by the close of business on the third-day property would be back on the market. However, it should never been taken off the market with the EA's I've used and instructed ie until there is evdience they have the funds in place and or sold their property or in the process of it ie offer accepted etc - otherwsie it is often a waste of time

What we have also noted is a buyer that comes alone does one visit and is a residential/family buyer makes an offer and ready to go often have cold feet. Serious buyer make an offer or do a quick 2nd visit and almost always works.

The estate agent didn't advise me that they were unable to speak with the buyer for over a week after the offer was accepted which was not good and I agree, in hindsight, removing the property from the market was defintely the wrong move. Thanks for taking the time to reply.