Finding “serious” buyers and adding conditions to accepted offers

1122abc

Hoenir said:

Buyers don't book surveys. This is a matter for the mortgage lender and the surveyor to schedule between them. 

I meant a home buyer’s / structural survey, have edited my post 

1122abc

TBG01 said:

Your missing a key condition. You need the buyer to complete with you and your sellers self imposed time frame. 

This is an initial condition alongside being chain free 

LoopyLoops

Our vendors ea asked to see our DIP and proof of deposit, which we were fine with and understood they wanted to check our seriousness.  We booked our home buyers survey very quickly. Our lender did their valuation survey really fast! We had a solicitor in mind and I had had quotations already based on the maximum we were looking to buy at. We just had to sign with our chosen solicitor, which we did within a week.  I see no reason for your EA making it clear you are committed and working to a timescale.  The EA should be able to word that without making you sound pushy or too desperate. Asking for viewers position isn’t unreasonable for the EA’s to do either.  Seems very much the norm, from my recent experience anyway.  Good luck, hope you find new buyer soon! 

ReadySteadyPop

1122abc said:

Would appreciate any advice as I haven’t been in this situation before. 

After 6 months, I am at the point of exchange on a property that I am purchasing (no onward chain, ex rental). My buyers withdrew from purchasing my property two days before exchange. They have refused to provide a reason and will not negotiate on price. Three days before they pulled out, they sent emails where they appeared ready to proceed, asking for a specific completion date for 1 week’s time which I agreed to.

My property went back on the market the day after the buyers pulled out and there are  several viewings booked this week by FTBs. 

My seller has agreed to wait for me to find a new buyer, but I doubt they will wait for long. I really need to find a buyer who is committed to the purchase. 

Would it be unreasonable/confrontational to:

1. State that any offer will be accepted with a condition that the buyers instruct solicitors, send searches and book a survey (eta: e.g homebuyers survey) in the first 2 weeks - if this doesn’t happen, we will go back on the market.
2. Ask if the EA has seen proof of funds or AIP - can they even do this?
3. Ask for proof that solicitors have been instructed - could the EA email the solicitor and they reply to confirm instruction? Not sure if there would be GDPR/privacy issues with this.  

Is there anything else I can do to ensure that I have the best chance of a successful purchase (I know that nothing is guaranteed until exchange)?

Did you offer them a price reduction?

1122abc

ReadySteadyPop said:

1122abc said:

Would appreciate any advice as I haven’t been in this situation before. 

After 6 months, I am at the point of exchange on a property that I am purchasing (no onward chain, ex rental). My buyers withdrew from purchasing my property two days before exchange. They have refused to provide a reason and will not negotiate on price. Three days before they pulled out, they sent emails where they appeared ready to proceed, asking for a specific completion date for 1 week’s time which I agreed to.

My property went back on the market the day after the buyers pulled out and there are  several viewings booked this week by FTBs. 

My seller has agreed to wait for me to find a new buyer, but I doubt they will wait for long. I really need to find a buyer who is committed to the purchase. 

Would it be unreasonable/confrontational to:

1. State that any offer will be accepted with a condition that the buyers instruct solicitors, send searches and book a survey (eta: e.g homebuyers survey) in the first 2 weeks - if this doesn’t happen, we will go back on the market.
2. Ask if the EA has seen proof of funds or AIP - can they even do this?
3. Ask for proof that solicitors have been instructed - could the EA email the solicitor and they reply to confirm instruction? Not sure if there would be GDPR/privacy issues with this.  

Is there anything else I can do to ensure that I have the best chance of a successful purchase (I know that nothing is guaranteed until exchange)?

Did you offer them a price reduction?

Yes, buyers responded saying they had another property ready and were no longer interested. 

Sapindus

When I made an offer on a property in February the seller had had their fingers burned in much the same way and wouldn't accept my offer until they'd seen some evidence of my willingness to proceed quickly with a survey - and the fact that I had no chain was a point in my favour as well. 

And yes it was me booked the survey/home buyers report.

k12479

1122abc said:

Would it be unreasonable/confrontational to:

1. State that any offer will be accepted with a condition that the buyers instruct solicitors, send searches and book a survey (eta: e.g homebuyers survey) in the first 2 weeks - if this doesn’t happen, we will go back on the market.
2. Ask if the EA has seen proof of funds or AIP - can they even do this?
3. Ask for proof that solicitors have been instructed - could the EA email the solicitor and they reply to confirm instruction? Not sure if there would be GDPR/privacy issues with this.  

Screams desperate seller, may risk a big reduction in the offer after the survey or at the last minute.

Albermarle

Would it be unreasonable/confrontational to:

1. State that any offer will be accepted with a condition that the buyers instruct solicitors, send searches and book a survey (eta: e.g homebuyers survey) in the first 2 weeks - if this doesn’t happen, we will go back on the market.

It can also be the other way around.
The seller accepts an offer but leaves the property on the market, until they ( or their EA) see a full approved mortgage offer ( the lender will have seen deposit proof of funds before making the firm offer) and that solicitors have been appointed and got in touch.
Maybe even wait for a survey as well, although that might be pushing it.

AskAsk

Albermarle said:

Would it be unreasonable/confrontational to:

1. State that any offer will be accepted with a condition that the buyers instruct solicitors, send searches and book a survey (eta: e.g homebuyers survey) in the first 2 weeks - if this doesn’t happen, we will go back on the market.

It can also be the other way around.
The seller accepts an offer but leaves the property on the market, until they ( or their EA) see a full approved mortgage offer ( the lender will have seen deposit proof of funds before making the firm offer) and that solicitors have been appointed and got in touch.
Maybe even wait for a survey as well, although that might be pushing it.

problem with this is that the EA aren't interested in marketing the property any more once they think they have found a prospective buyer, so although they may agree to leave your property on the market, they may not actually take any viewings.

only way for this to work is to advertise with more than one agent.

buyers may also not be interested in proceeding if the property is still on the market as they may waste money and someone else come along and make a better offer.  i wouldn't entertain spending any money if the property is not taken off the market.

ReadySteadyPop

1122abc said:

ReadySteadyPop said:

1122abc said:

Would appreciate any advice as I haven’t been in this situation before. 

After 6 months, I am at the point of exchange on a property that I am purchasing (no onward chain, ex rental). My buyers withdrew from purchasing my property two days before exchange. They have refused to provide a reason and will not negotiate on price. Three days before they pulled out, they sent emails where they appeared ready to proceed, asking for a specific completion date for 1 week’s time which I agreed to.

My property went back on the market the day after the buyers pulled out and there are  several viewings booked this week by FTBs. 

My seller has agreed to wait for me to find a new buyer, but I doubt they will wait for long. I really need to find a buyer who is committed to the purchase. 

Would it be unreasonable/confrontational to:

1. State that any offer will be accepted with a condition that the buyers instruct solicitors, send searches and book a survey (eta: e.g homebuyers survey) in the first 2 weeks - if this doesn’t happen, we will go back on the market.
2. Ask if the EA has seen proof of funds or AIP - can they even do this?
3. Ask for proof that solicitors have been instructed - could the EA email the solicitor and they reply to confirm instruction? Not sure if there would be GDPR/privacy issues with this.  

Is there anything else I can do to ensure that I have the best chance of a successful purchase (I know that nothing is guaranteed until exchange)?

Did you offer them a price reduction?

Yes, buyers responded saying they had another property ready and were no longer interested. 

I thought you said they had not provided a reason?