After 20 weeks (+ ££££ in legal costs) we've found out that our flat's "cash" buyer lied and is not indeed a cash buyer, is still waiting to sell her flat, & has been dragging us along. So the flat is back on the market. Utter waste of time, money & stress! Some people act so dishonourably 😭🤬
Ugggg. Sorry to hear that.
Thank you - totally sucks but at least we’ve still got somewhere to live.
I’m so glad the Scottish system is much more reliable. That’s terrible.
Having to sell my late mum's house down south, having only ever bought and sold up here. Only positive of process down south I've found is they do the showings, saving me issue of trying to do them from Edinburgh, with her place in Herts! Otherwise it just feels unnecessarily longwinded
It is a terrible system and the buyer can dick you around with no recourse. So dishonourable!
Just starting down that bit of journey, will keep my fingers crossed. Thankfully I don't need it sold to move on
Oh, I'm so sorry, Sophie. That's shameless behaviour. Sending love x
Thanks Ness, so utterly disappointing, as it's caused so much stress over the past few months. All for nowt! (well, we have everything ready to go, legal docs-wise next time).
Fair, take your silver linings! Still though, what a pile of po. I hope she twists her ankle awkwardly and has many failed sales.
The offer did seem too good to be true, but we'd had trustees confirmed the money was there. Always a good reminder that if something seems too good to be true, it probably is...
Double poo. I hope she her other ankle suffers a similar fate. And that no one buys her property at all.
Sorry you are having to deal with this. Sometimes people are just miserable.
Thanks Dennis! That is very true!
People are the worst
They really are!
Didn't they sign some paper in the meaning that they are going to buy it which might make you entitled to some compensation in % of the price?
No legal contract until exchange. Anything up until that point is based on trust and honour! Lol what a terrible system.
British system. In other places you sign a pre-contract, which subjects you to a fee, if you step down.
Exactly, no legal contract until both parties have incurred significant costs. Bit sh*t really when one party is dishonourable.
I have my flat on the market at the moment as well, and been receiving letters from companies with supposed cash offers too. They’re vultures, sadly. Best ignored. Hope you aren’t waiting much longer for a potential buyer.
We had another offer at the same time as theirs right after listing it (but sadly they’ve found somewhere else), so hopefully someone else will come along. Good luck with yours too!
So sorry, that's terrible. Hope you get a sale soon. Blessed be xo
Thank you Angela!
Oh no, Sophie, that's awful! In a just system she would be forced to pay your costs. What a nightmare. Hope you get another offer very soon.
Thanks Em! Got to spend the weekend clearing all the boxes and stuff away as we're kind of mid-move! 😭 Yup, a just system is certainly isn't.
So sorry to hear.
Thank you - totally sucks!
Sorry to hear this, what a time waster, hope you get a result soon
Thanks Paul! Very annoying. Two viewings booked already for early next week, so that's promising. Need to do a lot of tidying up boxes and stuff (we thought we'd be moving shortly!).
That's good to hear, hopefully this time! Don't tell me, Iceland? 😄
Haha, no, to the 'burbs in Hertfordshire.
How frustrating Sophie - not the first time I’ve heard of cash buyers who turn out not to be. House buying and selling really shouldn’t be so difficult!
It was through a trust and the trustee said it wasn’t dependent on their flat sale. Total lie! It really shouldn’t be that hard indeed!
Oh that’s even worse!
Yup, we chose their offer over another one that required a mortgage. Both chain-free. Or so we thought...!
Oh ouch!
Unbelievable. Can't imagine how frustrating that is
Utterly! It was all done through a trust, which appear to be utter shysters. Grrrr! And we turned down an offer from a lovely young couple who fell in love with the flat (who've found something else now)...
That's awful. Hope you find a happy solution eventually
Thanks! Now have to clear away all the boxes and stuff everywhere (thought we'd be moving out any week now!) and make it look all nice again to appeal to someone new, and go through the whole process all over again. Ugh.
It's almost a metaphor for life😂😂. Good luck
Haha yes! And thanks ☺️
I'm sorry. So appalling. Had a similar thing happen to me when buyers turned out to be not serious, though luckily only money I spent was on having to keep paying mortgage AND rent on the flat I was planning to move to, also find a catsitter for when I was bouncing between cities for several months.
Ugh appears to be common. Thankfully we found out just before offering on a rental - would be absolutely livid if I ended up with rent to pay too!
Unfortunately, liars everywhere. 🤬 I apologize, and I hope the situation improves.
Thank you - in a way it's a bit of a relief as the whole thing has been a nightmare with them.
btw, new eruption Iceland
The heart is for the lovely red hut, not for your dishonored buyer, may they have itches they can't reach and an urge to get back up and check they turned the stove off just as they get comfy, every night until eternity.
Thank you! That would seem a suitable karma payback for them 😂
Sorry to hear that bad news, Sophie. So frustrating. I hope things take a kinder turn for you.
Thanks Peter! Found out today that lawyer won't charge additional fees for a new buyer, so that is excellent news, and people are coming to view the flat next week... All just such a pain though!
It is! I wish you the strength & stamina (and a biot of luck) to persevere & thrive!
No choice! Made the decision to sell a long time ago and we will eventually make it happen!
I'm sorry to hear this Sophie, so frustrating and costly for you. Hope you get a new buyer soon.
Thank you! The buyers had taken so long that the Under Offer sign was taken down about 6 weeks ago. I guess tomorrow we'll see the For Sale sign back again 🤦♀️ So utterly depressing! (& we have to get the flat viewable again but we're mid-way through packing stuff up so it's an absolute mess!!).
Thats horrible. Such a stressful process without this. Best wishes for a smooth and speedy sale. Annoying their solicitor didn’t confirm their funds.
Thanks Susie. The funds were confirmed through their trustees - but their circumstances “changed” and it was then dependent on them selling, but they didn’t bother to tell us until we badgered them about exchange dates. Then the truth came out, so we pulled out. Grrrr.
Oh gosh that is naughty and so frustrating. Sounds like you did the best thing. I’m sure you will have much better luck next time. It’s expensive, stressful and all consuming. I hope you sell soon and find a fabulous new home 🤗.
Thank you Susie. We're planning to rent first, and were about to put an offer on a house last week when the agent told us that she'd just found out about the change in circumstances! Thankfully not committed to renting somewhere while we still have this flat!
That’s a good idea, gives you time to find the right place. Also makes you an attractive buyer for when you are ready to make your offer. Very best wishes for it all 🤗.
Thank you, appreciate your kind words :)
We have sold our house twice in the last 18 months and both times the buyers have pulled out because they have seen something else they preferred. Luckily before we had spent too much. So stressful.
Agh seems to be common! We pulled out as they’ve deceived us and they are not willing to commit by exchanging contracts after 4.5 months. Fortunately only legal fees and no rental costs.
Oof - that bites badly. I’m sorry that happened. Beautiful photo though. ❤️
Thank you Athena. Very disappointing and painful to have to start again.
I hope your next experience with it is fast, smooth, and calm.
When I bought it (in 1997) it took 6 weeks start to finish. That would be nice...
Such a beautiful image. Love the contrast and vibrant red. ❤️
I completely understand your anger Nothing can help you now - but is there legal protection insurance, like in Germany ? If you are in the right or there is a chance that you will win, they will cover all costs ...
I don’t think there’s any legal recourse as there’s no proper contract signed. It was through a trust and I might approach the trustees who misled us to reimburse our costs so far (fortunately we hadn’t signed a rental agreement on a new place yet!), but doubt we’ll get anywhere.
But beware if you say that they are scammers ... they were just lying ... 😒 I hope you get your money back 😊
I very much doubt it, but will at least try.
That's annoying did your solicitor not do a thorough search on the buyer?
Not the solicitor that does that but the agent, and yes, they did all their checks. The buyer was through a trust and their "circumstances changed" and "didn't think to tell us" until we pushed to exchange. I think they were probably lying all along about the cash sale.
Probably just so frustrating for you! Buying and selling is so fraught. I really hope you get a buyer who is in a position to move. You can ask your solicitor to double check with the buyers solicitor.
We wouldn't have accepted the offer from someone who wasn't in a position to move - they just lied though - not much you can do when a Trust company does that. They said that the sale wasn't dependent on them selling a property.
Hopefully the next buyers are honest.
Yup, really don't want to go through this twice!!
Keeping fingers crossed for you.
Thank you! Will definitely be reminded of the "if it's too good to be true, it probably is" phrase. Got some viewings early next week already, so that's promising...
I had similar with a seller… months of being messed around and 1000s wasted on legal and surveyors fees and he just ‘changed his mind’. It was supposed to be vacant possession. System is no good for both buyers and sellers acting in good faith
Ugh, so many people sharing similar stories! Waiting to see how much more my solicitor will charge for the legal bits with a new buyer (that we hope we can find!). So far down about £2k :(
In 6 property transactions over 2.5 years only 50% went through (so many due to divorce and death: I’m not a serial property buyer and seller!)
Such a painful process! We have two viewings early next week, so we can start the whole painful process all over again - ugh!
Sorry to hear that you are going through this hassle. I remember selling my parents' house - the first 3 potential buyers dropped out at the last minute because they simply didn't have the money. Pain in the arse!
They d*cked us around for months - asking for endless things, just to delay it. We spent £250 on an asbestos survey a few weeks ago that took 5 minutes and as expected found no asbestos. Now I realise what all the delays were all about...
Oh no. How awful. I'm so sorry
Thanks Mandy. Not the best week :(
Do what Americans do: Sue her. 😀
I am tempted to sue the trust as they clearly lied, but not sure they’ve broken the law (thinks back to tort law course 30 years ago - perhaps duty of care issue?), but probably just been dishonourable MFs…
Oh no! I hope you get to make your move in the not too distant future, and more lovely people fall in love with your flat.
Thanks Emma! That’ll teach me to be wooed by a cash offer via a family trust fund… Shysters!
It is gutting, but I hope it works out well for everyone in the end.
Is this where you’re moving too?
Haha, bit too exposed for my liking. It's an emergency hut - there are loads dotted around the Iceland landscape, especially on mountain pass roads.
Well if you have a home emergency you know where to go (as you’ll probably be in Iceland anyway) 🤣