our house buyers lied about being in a chain

[emmylooboo]

Hello, can anybody advise us ????
we accepted an offer for our home almost 14 weeks ago. we were told by our estate agent the buyer had his deposit and mortgage in place and wasn't in any chain so was "good to go" and expect the sale to take 6 to 8 weeks. All relevant paper work and searches have been completed and we were motoring ahead. then at 9 weeks we were told our buyer was in fact in a chain and his property was being bought by a housing association . we are now 14 weeks in and are no further along with the sale. we are now in a very serious situation where we are paying 2 mortgages (this property was a rental) without an end in site. our question is are we legally allowed to put our property back on the market with a different agent as we feel our current agent has let us down badly by there lack of communication and incorrect information(lies) being given. many thanks in advance. x

[wales01man]

Re: our house buyers lied about being in a chain

Read the contract with the agent before you do anything

[enquirer]

Re: our house buyers lied about being in a chain

Our question is are we legally allowed to put our property back on the market with a different agent as we feel our current agent has let us down badly by there lack of communication and incorrect information(lies) being given.

As Wales01man says, check the Terms and Conditions.

If it the usual sort of contract, then there will be clause of some description to the effect that you are bound to them for a set period. Going elsewhere will not release you from their fee.

To get out of it, you will need to show that they have breached the contract - in this case, either deliberately misled you, or been negligent in that they failed to carry out adequate checks with regard to the would-be buyers status. It is possible that they too, have been misled.

The number of dreamers and timewasters is now such that it is always wise - agents protests notwithstanding - to keep a property on the market until the last minute.