Risky vendor

FlaatusGoat

I'm currently trying to buy off a really risky vendor. I previously tried to buy his property a few years ago but he aborted, leaving me holding the bag. Last summer another buyer got hit and the same thing happened. I'm trying to get the assurances that he will complete this time, the agent all sounds very positive saying that he's already got boxes in his house and that he likes the accommodation the charity is offering him etc. This is all hear say at this stage, I have seen nothing in writing nor has the agent confirmed that she's seen any wet signatures regarding the vendors onward move or paperwork from the said charity.

In the absence of this my rationale is to try and take on costs like for like. At the moment I have money on account with my solicitor, but I have ordered them to not start searches yet until the above is firmed up. However, if the vendor is now taking on costs (would they be?) then at least that gives me peace of mind that if they bail I'm not going to be the only one holding the bag, if that makes sense. Any thoughts??

The_Unready

Given the history, don't waste your energy on this one and find somewhere else.

ArbitraryRandom

A seller's costs are the EPC (and home report in Scotland), solicitor, and EA fees, mostly due on completion but can also be contractually due if the seller just decides to pull out of the sale.  

If you had searches and surveys carried out a few years ago then if you are using the same solicitor that might cut down on time and costs (your lender will want a fresh valuation but might accept your searches - some can expire). 

It's really up to you and how much you want THIS house vs the risk/frustration.

The other option, if he's moving into charity accommodation, is to perhaps wait until he's actually moved out?

Sea_Shell

Fool me once, shame on you
Fool me twice, shame on me