bishbosh
Member
Registered: 25th Sep 06
User status: Offline
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Our house has went up for sale and we have found the property that we want to buy. The seller has struggled to sell and suggested that he would agree to sell to us until ours sells. He suggested a contract between us and he would then ignore any interest on his property should he get any.
Do they exist? Google keeps throwing up American contracts/info.
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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I don't think its possible to be honest.
Main reason is it will not be worth the paper its written on because I presume you are not going to say you 100% will buy his house as you would be screwing yourself in case you did not sell.
Thus you must have a clause like if you don't sell the agreement to buy is broken. This means that you could just pull the house off the market to cancel the deal.
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
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Well he is paying his agent to sell the property. He could instruct the agent to set up a sale and have a memorandum of sale drawn up. Your conveyancers would set up a file at either end but wouldn't proceed on it. Frankly he would be a bit mad in this market. Who's to know how long your going to take to sell.
With housing transactions in England the contracts are only binding once the matter reaches exchange. So any other contract wouldn't really stand.
If its the house you really want I would suggest agreeing a price for it, getting ruthless and taking as much off your asking price as possible.
Corsa 2.0 16v Vegas - Sold
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bishbosh
Member
Registered: 25th Sep 06
User status: Offline
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Thanks for the reply, I was sure it wasn't a done thing when he suggested it. Once ours gets some interest and views we are ready to negotiate for a quick sale.
I like the idea of knowing what we would be buying but I'm realistic to the potential that ours won't sell before his does. We are selling at the lower end of the market so hopefully a first time buyer snaps it up.
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
User status: Offline
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Get straight on and negotiate now. If you can get an offer accepted subject to sale you know exactly what you are dealing with.
Remember your house is only worth what someone is willing to pay.
Before you know it we will be on the run up to Christmas and the buyers will be gone until the new year.
Good luck!
Corsa 2.0 16v Vegas - Sold
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Surprised he would do that when your not at all proceedable. There can be no contract between you until you have a firm offer on your own home.
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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You can still make an offer to him and get him to possibly accept. If you do ask that the property is taken off the market.
You can always get your mate to ring up the estate agent and inquire about a house they saw last week. if the agent tried to sell it you know they are not good for their word. Some are some are not and will screw everyone under the sun to make more money
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VrsTurbo
Premium Member
Registered: 8th Jun 10
User status: Offline
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Happened to some one living across the road 1 year later theres is still not sold and new house owner is getting very worried!
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