We're currently in the process of selling our house. We are now in week 6 since we accepted an offer on our house. The buyers (who are not in a chain) have had a homebuyers report done on our house and a few major problems came up so we agreed to reduce the price by £2000 as long as we're in for christmas. But I had a letter through from our agent this week saying the agreed price with the condition that contracts are exchanged and completion in the new year. This is not what I meant! I have rang them but she said I had said exchange contracts by christmas. I must have told her 4 times we wanted to be in our new house for christmas! Now the buyers say they are happy to exchange contracts the week before christmas but not complete until the 20th Jan as they are on holiday!! That will mean we'll have to wait a month. The place we're moving into is vacant and we're desperate to move in. My solicitor has said he'll try and re-negotiate an earlier date. What can I do?
2006-12-07 00:14:58 · 10 answers · asked by Munchkin 3 in Business & Finance ➔ Renting & Real Estate
Keep nagging the Solicitor...EVERY DAY! And the Estate Agent...they do little enough for their money as it is!
2006-12-07 00:17:24 · answer #1 · answered by puffy 6 · 3⤊ 0⤋
We were also moving into a place that was vacant, and the owner kindly let us have the keys so we could move our stuff in after we'd exchanged contracts. You're both committed then, anyway.
Have you, personally, been in contact with the buyers? I know agents don't like it, but I can't see why on earth you shouldn't - if they were buying a car/bed/rabbit hutch you would talk to them, and this is a house! Can you go to see them and have a little chat?
Otherwise, apart from the nagging, it sounds as though you may have to be patient. They may have been a bit naughty, but so what - at least you've sold. And you never know, their agent may have just told them about the price drop, to get them hooked, but not about the fact that you wanted to be in by Christmas as a condition. Some agents are crafty, they lie, and they make things up to get the result they want.
2006-12-07 01:03:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Sadly, your experience is all to familiar. The only way you can pressure these buyers is to threaten to withdraw from the sale. However, do remember that you would be the main loser should your buyers say O.K. forget it!
The average sale is taking as least this time, but I suspect that you're are presently between a rock and a hard place.
You may have to grit your teeth and complete in the new year, as disappointing as that seems.
It is disappointing to note the reaction to Estate Agents as shown in some of the above.
Most agents work hard for their clients and, although the conveyancing is out of their hands are always at the sharp end when deals don't complete as quickly as expected.
Although there is plenty of legislation controlling and penalising badly performing agents, there is no similar legislation controlling dishonest or unprincipled sellers.
Against European agents charges of between 5 and 10% our 1% seems positively cheap!
I would recommend that prospective sellers appoint an NAEA accredited agent and then they will always get a fair deal.
2006-12-07 03:08:35 · answer #3 · answered by Davy Crockett 3 · 0⤊ 0⤋
They've got you over a barrel and there's nothing much you can do. They know you won't be able to re market and sell your house elsewhere before Xmas, so they are in a strong negotiating position.
Unfortunately your conversation with your buyer about being in before Xmas is simply your word against theres - no proof either way.
You could take the risk and complete on your purchase (and move) before Xmas - there's no compulsion to wait for completion with your buyers. That would be a significant risk though.
2006-12-07 00:24:24 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Hi >
I know the problem, having had it before.
Jump up and down on your agent & solicitor, do not be fobbed off.
Tell them that if they want to retain their jobs, the conveyance of the property has to take place tomorow.
Sounds a bit harsh, I know, but you must stand your ground, and be firm.
Give the beggers a good talking to, and repeat the comments twice a day.
I am a freindly bloke, but sometimes a few very positive words are needful.
Best of, & May the farce be with you.
Bob
2006-12-07 00:32:26 · answer #5 · answered by Bob the Boat 6 · 0⤊ 0⤋
unfortunatly there is nothing more you can do.....buying selling never goes to plan...ever!! as I am sure you found out when you bought your place.....you may wish to move before christmas but if the buyers don;t then you are stuffed...they can legally walk away from the deal at any time until they complete, so any deal is really worthless until its all signed. They can also come back to you demanding more money off....all you can do is apply a bit of pressure and hope...there are no legal avenues to take.
Good luck!!!
2006-12-07 00:20:10 · answer #6 · answered by king_badger 3 · 0⤊ 0⤋
Threaten to put the price back up again if they do not complete before Christmas. They have broken the agreement, so can you. Tell them they will have to put their stuff in storage and move into rented after they come back from holiday.
They should have told you their holiday plans before they went ahead with buying your house. They have been deceitful in the worse possible way.
2006-12-07 01:42:54 · answer #7 · answered by pampurredpuss 5 · 0⤊ 0⤋
I don't think there is a lot u can do,apart from pulling out which will end up costing you a ton of money......
Dunno what to suggest, unless u say the reduced amount is no longer applicable, I can't see them pulling out because they have shelled out alot of money as well
2006-12-07 00:19:12 · answer #8 · answered by xXx Orange Breezer xXx 5 · 1⤊ 0⤋
definite, they might cancel the settlement on the sale. they are going to lose any deposit or sturdy faith money they paid while making the settlement bid at your residence. you additionally can threaten to sue them with breach of settlement, yet that is as much as you and whether plenty extra you're keen to pay to sell the homestead. keep in mind, in the event that they are sensible, they might in simple terms delay the financing till the settlement runs out and blame it on the loan employer. wherein case they are not obligated, they are out the deposit money, and you will't sue. in the top, you won't be able to ever incredibly stress somebody to purchase.
2016-12-13 04:28:09 · answer #9 · answered by ? 4 · 0⤊ 0⤋
THREATEN TO PULL OUT THAT WILL GET THING MOVING.WE MOVED FROM YORKSHIRE TO WALES FOUR MONTHS AGO..IT WAS TOTAL NIGHTMARE, THE VENDORS WANTED TO GO AWAY FOR TWO WEEKS AT THE LAST MINUTE SO I THREATENED TO PULL OUT....IT WORKED!
2006-12-07 00:20:02 · answer #10 · answered by big bird 3 · 1⤊ 0⤋