How can I feel up my buyer? And why does the EA want to help him and not me?

[askyfullofstars]

We are in thecprocess of selling my deceased motherx house. The buyer has signed the contract and (supposedly) paid his deposit, but he was holding on to them until we had emptied the property. The agreement being that if it was empty by Wednesday then we could exchange on Thursday. We arranged for house clearance people to empty the property on Wednesday, they informed us that it would be empty by early weds afternoon. I called the Estate Agent (he wanted to see the property empty, fair enough) to arrange to take him take him round late on Weds.

Inexplicably she then took him round on Weds morning and the house was still being cleared, she then starts barking orders at the clearance guys that it should have been done now and her buyer has travelled x amount of miles and they have wasted her time (I know this because its a friend of my brother who owns the company and he called him while she was still there shouting off - the neighbours have also confirmed this).

She then calls me later on to say that she has agreed with the buyer that she will check it on her way home and if its empty to let him know and he would accept that so she did and it was and she let him know (apparently). That was on Wednesday.

My solicitor gets on the case on Thursday, anticipating an exchange and it turns out hes not actually paid his deposit, but will be doing it yesterday afternoon and the money will be ready to exchange today.

My solicitor gets on it again today anticipating an exchange....aaaaaaaaaaand hes still not paid.

Not bad considering last week (Saturday) the estate agent informed us that he had been in touch to update them and let them know he had his notice of completion, everything is done and dusted and we will be completing on the 13th.

Yeah, that didnt happen.

The EA are also starting to get my hackles up.

Anytime the buyer wants anything doing they are straight on the phone to me. Anytime I need them to find out whats going on (like today), "Oh I cant call him, you'll just have to wait he is a good buyer he has bought 10 properties off us this year (he is a buy to let landlord) and he knows what he is doing". This and many other things are getting my hackles up.

I have a theory that as they do residential lettings he is also potentially one of their landlords and so doesnt want to rile him up as they dont want to lose whatever income they get from him as that is more in the long term than what we are paying them. That could also explain the act of shouting at those guys while she was with him the other day, just looks very "look how much I care about you". whilst not doing diddly squat for me. ever.

I know it sounds harsh but it's emotionally draining keep preparing myself to let go of the last part of my mother and having it keep screeching to a halt is just too much for me.

[des8]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

Selling a house is stressful enough, but even harder when it was the home of a late parent.

I would not be surprised to hear that during the course of the next communications it is suggested there is a price reduction for some reason or other.
The buyer is a business man who is racking up the pressure.

Why would he not exchange contracts until the house was empty? It makes no sense.
It is normal to exchange whilst still living in a house, and to have it empty on completion day.

If it wasn't for your circumstances, I would be calling his bluff and saying if exchange does not take place by eg next Tuesday you'd be pulling out of the deal and letting the property yourself!

[Crazy council]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

hi

Why would he not exchange contracts until the house was empty? It makes no sense.
It is normal to exchange whilst still living in a house, and to have it empty on completion day.

BTL mortgages usually require vacant position and his insurance would need the property clear, but the agent should not have said he had paid the deposit

[des8]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

vacant possession perhaps.... but that is on completion surely, not on exchange of contracts?

Most people selling a house don't move until completion date. so having to move out before even exchanging contracts could cause enormous problems to a seller who is moving house.
I'm surprised BTL mortgagees require the property to be empty before exchange


Unless it is "exchange and complete "on same day.

[Crazy council]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

hi, yes both upon completion

i was presuming that the buyer has the finance ready to complete and would want tenants showing around in the time between exchanging and completing. Maybe thats why there pushing

[askyfullofstars]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

Well I've been up all night worrying sick about this. I know that sounds dramatic but not only do we have a lot riding on this but it's the house I grew up in. Every time we are set to exchange I mentally prepare myself for letting go of the last thing I have of my mum and then it doesn't happen and it feels like being hit with a shovel. Then I have to do it again. I cannot keep going through this.
He better not come in with a lower offer we already accepted a lower offer from him on the proviso it would be exchanged by Christmas (the EA and the buyer assured us that he had everything in place and he could buy the property information from his solicitor who had it all from the first sale that fell through)
I am going to send the EA an email. Can I ask your opinions on it?

[des8]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

Of course you can come here for support at any time.

As you accepted a lower offer on the condition of exchange by Christmas, why not call his bluff and tell him that as the condition has not been complied with the purchase price is n back at £X. Don't let them take advantage of your vulnerability, and ask your solicitor to get tough as well.

[askyfullofstars]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

Oddly I'd never thought of that des8. I admit due to the circumstances I dont always think that clearly. Thank you.

- - - Updated - - -

As you are aware last Saturday I received a call to let me know the buyer had received his notice of completion for the above property and would be completing on Friday the 13th.

I was promised a copy of this would be e-mailed to me.

As it turns out he could not have completed yesterday as he has yet to pay the deposit. We emptied the house as requested on Wednesday(despite there being no legal requirement for us to do so) for an exchange on Thursday. This did not happen. He reassured us that he was paying on Thursday for an exchange on Friday.

Again this did not happen and no one could reach him until fairly late in the day when his solicitor advised us he will be going in on Monday. Apparently he was asking them about when he can complete. Surely as an experienced buyer he would know that this cannot be done until he has paid his deposit and the contract is being exchanged?

Could you possibly find out what his concerns about completion are in order for us to try and assist him with this purchase as I really do not want to be in a position again on Monday where he has not paid. I keep being reassured by the branch that he Is a good buyer but surely you can understand from my perspective the concerns I have that all he has to do is pay his deposit, something he has been telling us he will do for days and it hasn't been done. Especially after I was advised last Saturday that it was all done and dusted.

As you can understand for me, this house sale represents letting go of the house I grew up in, my home. It's the last piece of the puzzle in moving on following my mum's passing. Every time we are due to exchange I steel myself ready to let go, and then it doesn't happen, and then I have to go through it all again at the next promise of exchange.

Considering we were advised by yourselves to take a lower offer on the proviso it would be at least exchanged by Christmas I am very disappointed that we are now near the end of January and not moving anywhere.

So please, could you please find out what the buyers concerns are in the hope we can try and allay them and also find out if he knows when on Monday he will be going in, as my solicitor seems to spend all day chasing an exchange that isn't materialising. At least if we have an idea we know not to start the Chase until after that point saving everyone a lot of wasted time.

I would like some reassurance that this will be exchanged on Monday since all, we are waiting for is the buyers deposit.

- - - Updated - - -

That's the email.

[des8]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

IMO you need to be harder and not show your vulnerable areas.
You already suspect the EA is working more for the buyer than yourself (he's probably looking after himself and doesn't want to lose commission even if you obtain a lower price)
So remind him who he is working for!
I would send more like this (and copy in your solicitor!)

As you are aware last Saturday I received a call to let me know the buyer had received his notice of completion for the above property and would be completing on Friday the 13th.

I was promised a copy of this would be e-mailed to me.

As it turns out he could not have completed yesterday as he has yet to pay the deposit. We emptied the house as requested on Wednesday(despite there being no legal requirement for us to do so) for an exchange on Thursday. This did not happen. He reassured us that he was paying on Thursday for an exchange on Friday.

Again this did not happen and no one could reach him until fairly late in the day when his solicitor advised us he will be going in on Monday. Apparently he was asking them about when he can complete. Surely as an experienced buyer he would know that this cannot be done until he has paid his deposit and the contract is being exchanged?

In view of the untruths I have continually been told about when contract exchange and completion will take place I now require you, as my agent, to instruct the purchaser that exchange MUST take place on Monday.
Failure will be taken as his withdrawal from the purchase, and the acceptance of the lower price, which was conditional on exchage of contract by Christmas past, is withdrawn

You should continue to market the property, and any offers to purchase should be forwarded to me directly.

[askyfullofstars]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

Thank you so much *des8*
I have copied and pasted that and sent. Now breathe.

You were definitely right I need to be less emotionally attached.

[des8]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

Please keep us informed

[askyfullofstars]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

New development....


The EA has forwarded us his completion letter which has a breakdown of his account (im pretty sure they shouldn't have sent me that)

There is 66k sitting in their account from mortgage funds and they are requesting the balance.

So.....he is going in on Monday to pay the balance why could we not have exchanged using the 66k giving a completion date for when he pays the balance?

[des8]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

The mortgage funds could not be used as the deposit.
They will only be released on completion.

But does seem thingswill now move forward.

[askyfullofstars]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

PHEW

[Crazy council]

Re: How can I feel up my buyer? And why does the EA want to help him and not me?

Not that unusual, BTL landlords can be a bit pushy when buying but there 10* faster to deal with when doing the sale. I suspect teh EA has sent you the account to cover the fact they said the deposit had been paid when it haddent ( they probebly have the 66k from prior sales ), and just needed him to sortthe rest

Hope things go through wellfor you

So.....he is going in on Monday to pay the balance why could we not have exchanged using the 66k giving a completion date for when he pays the balance?

possibly as i guessed above, he would have had tohad it cleared ( or the agent confirm it ) , prior purchases due to finace or insurance.