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tricky buyers?

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  • tricky buyers?


    New to the forum but in need of some advice please. I am selling my first house. We put to up for sale in Sept last year - I can't believe we picked such a bad time to sell but nevermind. To cut a long story short we received an offer from 1st time buyers 5 weeks ago now which we accepted. Glad to have an offer and from 1st time buyers at that! It seems to have gone downhill from there. The couple need to sell a car to raise all of the deposit and 5 weeks down the line its still not sold. We are in regular contact and they maintain that they love the house and will proceed (e.g. start survey/searches etc) when the get the cash. Is it reasonable now to ask them for a holding deposit as we just want proof they are serious, if they aren't want to drop the price on the house to try and get some more interest but it doesn't seem a good idea to do this while they are still interested. Some suggestions if this is a good idea, how much for and how this should be arranged would be most helpful.


  • #2
    Have you now taken your house off the market, or is your agent still advertising it?

    5 weeks seems rather a long time and sounds like delay tactics...have they even got a mortgage in place?

    Asking for a holding deposit would be a bad idea, apart from the legal nitty gritty...they probably haven't got it anyway

    My personal advice would be to keep it on the market...reduce it if you need to and hopefully you will get another offer. First time buyer doesn't always mean quick transaction (unfortunately!).
    commission free property sales and lettings


    • #3
      We didn't take off market as they did say right from the beginning they were short on the deposit. The have a mortgage sorted out it was then they realised they were short on the deposit, they didn't realise they would need 10%. They have said they have most of the money so I believe they would have money for a deposit.


      • #4
        I can understand your dilemma but you have been waiting for a very long time, you need to realise that the mortgage in principle only lasts for a certain amount of time if they do not make a move they make to reapply again.