Delays by Buyer and lack of transparency from Solicitor

Anthear

Would appreciate input and advise on the following.

House was marketed in January - had an offer quickly - supposedly 'cash' by someone who was 'chain free'.

My onward purchase was difficult and slow but when I was ready to Exchange on my purchase I discovered that my buyer was unable to proceed.  I knew they were buying alongside a Will Trust.  One of the Trustees has apparently decided not to co-operate. 

My buyer's solicitor does not return my agent's 'phone calls and will not explain to my solicitor what the issue is.  As we are at the end of the process, I will have to pay pretty much all of my selling and buying legal fees, plus I have invested in a survey for the property I was hoping to buy.

I have remarketed the property in the meantime.  What would people advise would be the way forward?  I feel that there has been a deliberate attempt to conceal the buyer's position by both the buyer and her solicitor.  What are my options??

Thanks in advance.

Hoenir

Buyer's solicitor works for their client nothing more. Under no obligation to discuss their client's affairs without their approval. 

Why isn't your own EA in direct communication with the buyer. 

Anthear

The EA is in direct communication with the buyer.  We have only just got to the bottom of what the delay has been due to and they have concealed information.  

ExEstateAgent

There's nothing you can do as such about the buyer but putting the house back on the market is the best thing to do. If the buyer is serious they'll pull the stops out to secure the property, no point giving them even more time to let you down! 

UnsureAboutthis

Anthear said:

The EA is in direct communication with the buyer.  We have only just got to the bottom of what the delay has been due to and they have concealed information.  

EA can only do so much
What evidence do you have re your EA's attempts to contact?

From what you have posted, I'd recommend and even consider changing EA if you have any concerns with them.
However, read the contract you signed carefully before you do that re possible implications re costs.

id i was selling and that happened, I'd give the buy 48 hours to declare what's what and if still not happy, I'd move on. and remarket.

dunmuvin

For something that’s so legal a lot seems to go on trust.  It’s so opaque, no third-party gets the unedited version of what A said to B. 

It’s especially frustrating when someone claims to be a “cash” buyer.  You may have given them a bit discount as a result.  I may have an over simplified view but “cash” means you have all the money available right now and there are no other dependencies.  

You can ask your estate agent if they checked this as they have a duty to do that.  

If you don’t cross the line and exchange I don’t know if there is legal recourse to recover what you’ve spent until that point.  

The fact that the buyer and buyers solicitor won’t respond says to me that your sale to the buyer is probably  over.  They’ve already said that one of the trustees won’t co-operate.  

I would focus on your purchase.  Explain what has happened and see if they’re prepared to wait while you remarket.  

Albermarle

I may have an over simplified view but “cash” means you have all the money available right now and there are no other dependencies.  

I think in many cases 'cash buyer' just means they have no need to sell a house to buy one.
When it comes to the crunch, it seems quite common that the cash is not immediately available ( if at all).