Do they want to sell their house to me at all..??!!!

coup1917

Having sold our house last year, we are looking to purchase a property to live in long term. Location of the last house did not suit us, so we took a chance and luckily we sold.

Now we have recently placed an offer on a property that has been on the market for nearly 3 years. ( a major renovation but location suits us )

Auctioneer was to contact us to say whether the offer was either too low or accepted etc... 2 Weeks gone by and no contact, so we decided to check up and see what the story was...

We have been told that there are 2 people involved in the sale of this property ( one of whom is a developer ) and they have not gotten back to the auctioneer with an answer.

Auctioneer says there are 2 people involved so that could be holding things up...
I have reason to believe ( but not definite ) that the developer has/had financial difficulties, ( involved with a fairly infamous Irish Bank )., so I'm wondering if this is an issue..

Combine that with an auctioneer who doesn't really seem bothered whether we want to buy or not ( I though he would be harrassing us practically with phone calls instead of us chasing him ), and we are left in no mans land when it comes to a sale....!!

We like the property and to be honest cant see anyone else looking to buy it for years to come.

Is there something we are doing wrong or why are they not snapping the offer out of our hands........or even coming back to us looking for a bit more...........???

planetX

If the developer is in difficulty it could be that he can't afford to sell - he may have debts bigger than any price he could hope to make. I know of quite a few properties listed because they have to be officially 'for sale', but in practise they aren't.

wyndham

Put a fixed time limit on your offer. Give them another week or so and take the offer off the table.

Snakeblood

coup1917 wrote: »

Having sold our house last year, we are looking to purchase a property to live in long term. Location of the last house did not suit us, so we took a chance and luckily we sold.

Now we have recently placed an offer on a property that has been on the market for nearly 3 years. ( a major renovation but location suits us )

Auctioneer was to contact us to say whether the offer was either too low or accepted etc... 2 Weeks gone by and no contact, so we decided to check up and see what the story was...

We have been told that there are 2 people involved in the sale of this property ( one of whom is a developer ) and they have not gotten back to the auctioneer with an answer.

Auctioneer says there are 2 people involved so that could be holding things up...
I have reason to believe ( but not definite ) that the developer has/had financial difficulties, ( involved with a fairly infamous Irish Bank )., so I'm wondering if this is an issue..

Combine that with an auctioneer who doesn't really seem bothered whether we want to buy or not ( I though he would be harrassing us practically with phone calls instead of us chasing him ), and we are left in no mans land when it comes to a sale....!!

We like the property and to be honest cant see anyone else looking to buy it for years to come.

Is there something we are doing wrong or why are they not snapping the offer out of our hands........or even coming back to us looking for a bit more...........???

Reduce your offer by 5%. If no one will want to buy, you have the power, and if they don't want to sell, they're wasting your time.

liger

coup1917 wrote: »

Is there something we are doing wrong or why are they not snapping the offer out of our hands........or even coming back to us looking for a bit more...........???

Even if they accept your offer they can drag out getting the contracts ready and so on. I thought i had a good deal sorted, put down a deposit, had everything ready to go, just wait for contracts.

Month one goes by, month two goes by, month three gone, now into 4th month and after telling the EA i'm walking away my solicitor gets something in the post. Apparently its going to take about another month or 2 more to sort out because the docs are a mess.

So i rang the EA, had a big argument with him, told him i want 7500 off the price or i'm walking. He refused to even contact his client and in the end when i demanded my money back he said he'd contact the seller to see what he can do.

In my case the seller has gone from getting a good price for a house that needs work and was on the market 6months to now having a take it or leave it offer for 7500 less because he wouldnt pull the finger out. He also has a deadline to decide.


Just for reference, does anyone here know if you want to get your booking deposit back do you need to to get your solicitor to send a formal notice that your withdrawing your offer or do you just ring the EA and say Have my money ready???? One advantage EA's have over buyers is that they deal with this all the time where the buyer might not know what the norm is!!!!

Jo King

You can just ask the EA for your deposit back. There should be no need for solicitors letters unless the EA is acting the maggot.

liger

Jo King wrote: »

unless the EA is acting the maggot.

Yes he is.

Refusing to talk to his client, telling me its the law he needs a letter to get my deposit back.

the only reason he agreed to take my revised offer to the vendor is that i told him i'd have my solicitor write to the vendor solicitor saying i'm withdrawing from the sale because the EA refused to contact him with my concerns over the delay and the new offer.

Jo King

Legally you are entitled to walk from the deal and ask for your deposit back. Tell the auctioneer you will report him to his professional body and or object to the renewal of his licence if he does not pay back the deposit immediately. Unless his client the vendor has a signed contract in his hand from you should there be any need for solicitors letters.
The legal authority is this High Court case

PHILIP M. HOWLIN
.v.
THOMAS F. POWER (DUBLIN) LIMITED

Judgment McWilliam J. delivered the 5th May.1978

liger

Thanks jo king,

Spoke to the EA today, he tried to get me to meet him at the property as i had pointed out a number of items the surveyor had said to me. He rejected all my points and insisted my surveyor was wrong. i just had to laugh at him and asked him did he really think that i would regard his opinion on the property higher than the surveyor i got in.

I reconfirmed with him that the deadline is in place and he should only contact me back with a yes or no on the new price.

Dymo

Why are you putting up with this? is it because there's nothing more suitable for you to buy. Get your holding deposit and go instead of wasting your time.

One thing though a lot of surveyors always write a very daming report of the property just in case it come's back to them but at the end of the day its your decision and your buying the property its with faults and all. Also most of the time it's the sellers that are acting the maggot the auctioneer only cares about his commission and your not the one who's paying him so he/she has to bow to them.

liger

Dymo wrote: »

Why are you putting up with this? is it because there's nothing more suitable for you to buy.

Also most of the time it's the sellers that are acting the maggot the auctioneer only cares about his commission and your not the one who's paying him so he/she has to bow to them.

Its the location i want and the price is reasonable. small estate, if another house came up i'd have no bother but nothing in the last year except this one.


I understand the EA only cares about his commission, i assume thats why he is refusing to go to the seller with the revised offer, i'd say more or less that he doesnt want his % to drop so he is being awkward with me to grind me down.

djmcr

Any way that you can contact the vendor personally and tell him that you are going to walk away from the deal because of the behaviour of the EA