selling flat - at what point do you tell buyer to poke it?
Discussion
I'll condense the story not to bore you all too much but..
we found a house we loved & had to act quickly, we had our flat on market within a week and had a buyer within 2 weeks, agreed purchase of house we liked.. off we go..
The buyer for ours is a french guy using an italian (but UK based) solicitor..
We had agreed a price with him £45k lower than our asking price, we could have got full asking I'm certain as having had a good look at the market ours was keenly priced and (honestly) the best 2 bed flat for the money by a long way. (brand new kitchen, new landscaped garden etc etc). We took his price because he was a 100% cash buyer and we needed to move quickly on the other place.
The buyers solicitor is driving ours nuts with her requests, we've had the council out to re confirm planning permission for things (they asked why we were wasting their time), we've tried to get in touch with builders who did an extension (before we owned it) to ask for guarantees on the glass used (there are none, it was 10 years ago).. the list goes on..
He knows we need him and as such is really pushing it, he's basically saying (I do think truthfully) that he has no knowledge of legal system and is 100% reliant on his lawyer.
She is constantly asking more and more questions.. Having had an intense survey which came back fine, They now want a full survey of plumbing (we had new boiler and central heating installed a year ago) and also electrics. my electrician has said its all perfectly safe but wouldnt pass current regs for a new build.
I really dont want to lose the other house & it galls me to be sucking up to this guy but at what point do I politely say..
Do you want it or not? Its not a new build, you got it at a great price, now just exchange or dont, up to you.
I'm startying to think they wont ever be satisfied & there is no way I'm spending more money on the place. I'm selling for what I paid for it 2 years ago (but having spent about £40,000 whilst owning it) and only doing so because the new place is so good.
Opinions?
we found a house we loved & had to act quickly, we had our flat on market within a week and had a buyer within 2 weeks, agreed purchase of house we liked.. off we go..
The buyer for ours is a french guy using an italian (but UK based) solicitor..
We had agreed a price with him £45k lower than our asking price, we could have got full asking I'm certain as having had a good look at the market ours was keenly priced and (honestly) the best 2 bed flat for the money by a long way. (brand new kitchen, new landscaped garden etc etc). We took his price because he was a 100% cash buyer and we needed to move quickly on the other place.
The buyers solicitor is driving ours nuts with her requests, we've had the council out to re confirm planning permission for things (they asked why we were wasting their time), we've tried to get in touch with builders who did an extension (before we owned it) to ask for guarantees on the glass used (there are none, it was 10 years ago).. the list goes on..
He knows we need him and as such is really pushing it, he's basically saying (I do think truthfully) that he has no knowledge of legal system and is 100% reliant on his lawyer.
She is constantly asking more and more questions.. Having had an intense survey which came back fine, They now want a full survey of plumbing (we had new boiler and central heating installed a year ago) and also electrics. my electrician has said its all perfectly safe but wouldnt pass current regs for a new build.
I really dont want to lose the other house & it galls me to be sucking up to this guy but at what point do I politely say..
Do you want it or not? Its not a new build, you got it at a great price, now just exchange or dont, up to you.
I'm startying to think they wont ever be satisfied & there is no way I'm spending more money on the place. I'm selling for what I paid for it 2 years ago (but having spent about £40,000 whilst owning it) and only doing so because the new place is so good.
Opinions?
southendpier said:
stick it back on the market.
+1His solicitor is probably being over cautious possibly because they were used as they are someone they have used before but is not an experienced conveyancing solicitor.
Put it back on the market in the meantime if you can get more. The worst thing would be after all the messing is for him to decide that he doesn't want it anyway...
It could be unfamiliarity. Is the solicitor used to uk practice? (In fact are they registered in the uk?)
In france there are issues with 10 year guarantees on building work (Decennial insurance).
I would be suggesting that if they cannot complete by date x then they should stop wasting your time. Get the agent to talk to the buyer and explain that what is going on is not normal in the uk. Meanwhile have the agent try for other buyers, perhaps a ring around known people rather than a full re-marketing?
In france there are issues with 10 year guarantees on building work (Decennial insurance).
I would be suggesting that if they cannot complete by date x then they should stop wasting your time. Get the agent to talk to the buyer and explain that what is going on is not normal in the uk. Meanwhile have the agent try for other buyers, perhaps a ring around known people rather than a full re-marketing?
If you want the sale then I'd let them do extra surveys (at their expense). Answer the other questions they ask, if you can do it without undue effort or expense. If there are some questions you can't reasonably answer, tell them why. And meanwhile keep the house on the market. If it's underpriced as you say there are probably other cash buyers around who might be tempted.
GreenV8S said:
If you want the sale then I'd let them do extra surveys (at their expense). Answer the other questions they ask, if you can do it without undue effort or expense. If there are some questions you can't reasonably answer, tell them why. And meanwhile keep the house on the market. If it's underpriced as you say there are probably other cash buyers around who might be tempted.
Good advice there.Pvapour said:
stick with it Craig, if you dont and you do loose the other house you'll just be saying to yourself, i wish i'd just stuck with it. hang in there & then when you move out leave hin a small pressent in the wall cavity 
a certain celebrity is suffering now for the time she made us wait 
haha, i have thought same, i need to know your story a certain celebrity is suffering now for the time she made us wait Leasehold properties are, 99.9 times out of 100, a pain in the arse to deal with when it comes to buying/selling.
The purchaser's solicitor is correct to request FENSA certificates (for the windows) etc, but if you're unable to provide these then there are all sorts of indemnity insurances which can be offered. Speak to your solicitor and see what they suggest.
Can I ask what the buyer's motivation is for buying the property? Does he intend to move in, or is it investment?
Have you (or your agent) requested proof of his cleared purchase funds?
You have hired two sets of professionals in the agent and your solicitor - it appears it's time they're made to work for their £££. Inform them of your unhappiness, and be willing to play hardball IMO.
The purchaser's solicitor is correct to request FENSA certificates (for the windows) etc, but if you're unable to provide these then there are all sorts of indemnity insurances which can be offered. Speak to your solicitor and see what they suggest.
Can I ask what the buyer's motivation is for buying the property? Does he intend to move in, or is it investment?
Have you (or your agent) requested proof of his cleared purchase funds?
You have hired two sets of professionals in the agent and your solicitor - it appears it's time they're made to work for their £££. Inform them of your unhappiness, and be willing to play hardball IMO.
Edited by Andy M on Tuesday 3rd November 23:06
I went through something similar when selling 2 flats in a single deal in the Highlands. The local buyer and local solicitor played the whole thing out, in the words of my solicitor: 'as if they're answering a 1st year land-law exam question'. An example was wanting to see planning permission for DG windows installed 15years previously. My solicitor told me he would be very happy if I instructed the buyer to 'f
k Right Off!', as it was going to go round in circles and result in either a no-sale or another request for discount on spurious grounds.
I had another buyer within a few weeks.
k Right Off!', as it was going to go round in circles and result in either a no-sale or another request for discount on spurious grounds.I had another buyer within a few weeks.
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