Dilemma: stick with buyer after long delay or remarket?

Cubicsrube

https://forums.moneysavingexpert.com/discussion/comment/81983852#Comment_81983852

The EA says the market is slow and prices are down, but this is a block of flats which seems to have pretty evergreen interest. They are in a perfect location across the road from a park and walking distance to a hospital and they don't come on the market often (though, that said, unfortunately two came on the market and sold straight away while we were waiting for probate…I don't know if that's a good thing for me or a bad thing!)

Cubicsrube

https://forums.moneysavingexpert.com/discussion/comment/81984102#Comment_81984102

Thanks, well that is good context for me, I suppose.

We have decided to request a meeting with the estate agent in a few weeks to sit down and review everything - full insight into buyer's position & chain status - and set a deadline for exchange with a plan for remarketing if that deadline passes. Hopefully that will send a signal that we're prepared to start over if we don't see movement soon.

Sorry things are dragging for you too - good luck with it.

GDB2222

https://forums.moneysavingexpert.com/discussion/comment/81985761#Comment_81985761

It gives you an idea of what they sell for, at least. Is your agreed price roughly in line with those comparables?

otb666

Yes going to give another 6 weeks then going to either auction or re market but do not really want to change EA as they will come after us for their £3k+ fees as the buyer in their eyes are processable even though they are not really as have not completed their sale due to sale at bottom of chain being a leasehold.

Herzlos

Can you afford to offer a discount if they can complete earlier or incentivise someone to break the chain?

Of course breaking the chain would only work if the bottlenect is further down than your buyers buyer.

Cubicsrube

https://forums.moneysavingexpert.com/discussion/comment/81986324#Comment_81986324

We'll discuss all those options with the EA when we meet. What do you mean by 'breaking the chain would only work if the bottleneck is further down than your buyers buyer'?

otb666

After 7 months been told may happen in a couple of weeks so in our case may be worth hanging on. In the meantime prices have gone up slightly by 5k-10k But its not the selling that seems to be difficult its the completing the sale and we will be happy to have it done.

sheramber

There seem to be two people replying to this post or OP has two identities.

otb666

I am in the same position as the original poster and thought they would like to know I am going through same dilemma. There is no "new waiting to exchange thread"which i find strange and was thankful to find some one else in this position. I am up to page 650 on previous thread but as this is 5 years old really wanted more recent experiences. Again it was reassuring to know we are not the only ones finding this sale process soooooooooo longgggggggggg.