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Getting messed around on sale - should I go ahead?

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  • 24-04-2008 1:30am
    #1
    rockbeer
    Closed Accounts Posts: 1,422 ✭✭✭


    Just looking for opinions on this situation. We recently, finally, received an offer on our house after having it on the market for six months. So far so good.

    The prospective buyer is in a chain with two other people, the first of whom declared themselves to be a cash buyer. However it now turns out that they are in fact waiting for an award of probate before they will have their money available, which will hold the whole chain up. They say it should only take 3 - 4 weeks for this to get sorted, but now I'm having doubts about the whole thing and wondering whether we should go back to market.

    Our solicitor says 3-4 weeks is highly optimistic and has advised us to give them up to two months to get the money, which sounds OK on the face of it. She also says it's 'extraordinary' for an award of probate to fall through so she's still reasonably confident that everything will work out. Despite this, I'm starting to have doubts about the whole thing. Especially as they failed to disclose the full situation from the start, which makes me wonder what else they might not be telling us now.

    So I'm wondering whether anyone has any ideas about how we can satisfy ourselves that these people aren't total liars and time-wasters before we put our future in their hands and waste any more precious time.


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    How about requesting a deposit from them for keeping the property off the market- you are after all holding a depreciating asset on their behalf. Its not unusual in situations like this for the person to seek a discount on their agreed purchase price 2-3 months down the road- safe in the knowledge that you won't want to put it back on the market again...... Its even got a name- gazundering, the reciprochal of the gazumping that happened in the old days.......


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