"Sale Agreed"

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casiopea

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I went "Sale Agreed" on my house (in Ireland) some months back. The buyer put a holding deposit down and my solicitor sent out the contracts. The buyer needs to sell her appartment but now 3 months later she still hasnt sold and therefore we are still "'Sale Agreed". Im beginning to think if by the end of August there is no move to sign contracts Ill withdraw from Sale Agreed and put the house back on the market. I feel a bit bad doing this, am I unreasonable to want to do this? Anyone any advice?
 
No, there is nothing to stop you from doing this, and IMHO you shouldn't feel bad about doing this as they have had 3 months to sell their own apartment.

Did you estate agent not advise against selling to someone who had a property to sell? Ours did, and when we went to view any properties, we were asked whether or not we had a property to sell.
 
I don't think you're being unreasonable - in fact I think you've been more than fair in accepting their offer when their own property wasn't even Sale Agreed & you have given them 3 months.

IMO, it's one thing to be in a chain but quite another to be waiting for your purchaser to sell their property and so close on yours. You are depending on your buyer not being unrealistic about what the property is worth, making the property available for viewings, making an effort to keep the property presentable - not to mind the list for their EA. TBH I wouldn't accept an offer on my property unless the buyer had Sale Agreed their own property.
 
Thank CCOVICH.

She did the opposite, and encouraged me to accept. I was obviously aware that she had to sell and therefore we were talking about some months (as these selling chains have a tendency to take). In fairness, the estate agent has been very pro-active in getting information for me about the buyer. I found out last Friday she got an offer but she rejected it, I just feel its 3 months later and she hasnt even accepted an offer. I think the end of august Ill withdraw and resell.
 
casiopea said:
She did the opposite, and encouraged me to accept.... I found out last Friday she got an offer but she rejected it
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I wonder did your EA get the sale of your purchasers property?

As for purchaser rejecting offer - did the EA comment on whether it was a fair/reasonable offer?

Best of Luck!
 
You're buyer is a complete waster,she obviously has an urealistic price for her own apartment.If she really wanted your house she would have dropped the price of her own to be in a position to buy yours,the fact that she got an offer after 3 months and then rejected it,says it all.
I'd be on to your EA in the morning,telling them to put the property back on the market pronto !
 
It appears that your buyer is in no rush to complete the sale. Perhaps you should put a time limit on her (this should have been done from the start IMO).
 
I wonder did your EA get the sale of your purchasers property?

As for purchaser rejecting offer - did the EA comment on whether it was a fair/reasonable offer?
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Its a different EA. She rejected an offer that was just under her asking price. I am concerned that as thewatcher said that she has an unrealistic asking price. Im going to put the house back up at the end of August (things are very quiet now anyway).

Perhaps you should put a time limit on her (this should have been done from the start IMO).
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I spoke to my solicitor about putting a time limit on this, he said you cant force someone to sign, that we can put a limit on the sale to close in the contract so there is a time limit once she has signed, but we cant force her to sign. Ive communicated to my EA that Im putting the house back on the market end of August, this will be communicated to the current buyer.

Thanks for your feedback guys, its been very helpful.

cas.
 
casiopea said:
I spoke to my solicitor about putting a time limit on this, he said you cant force someone to sign
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You can't force them to sign but you can inform them that you want the deal closed ie contracts signed within 4 weeks of receipt of deposit. Inform them that the house will not be Sale Agreed (on sign, brochure or adverts) until contracts are signed and your EA will continue with viewings.

This should hurry them along!
 
Once the contracts are signed, the property is technically 'sold' as opposed to 'sale agreed'.
 
My issue is EA hurrying to the house to put Sale Agreed on the sign before they have received deposit or contracts have even been issued - not to mind signed. From my experience things can and do go wrong in the interim and it looks bad to have the sign changing from For Sale - Sale Agreed - For Sale....
 
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