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UK-Justice, Barrister
Category: Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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we have a cash buyer in , since june 2012, stocks and shares

Customer Question

we have a cash buyer in , since june 2012, stocks and shares and other funds ,taken 6 months for searches, due to a few problems with our property. two exchange dates have been arranged and each time their solicitor has not had funds to do the transaction. They have visited the property 3 times. definately wanted it. Worried now that is is a scam and using us to bring money in to this country from overseas. Their solictor is not answwering calls, just fax communication. Our buyer is away on business until to day. Have we been used for a scam
Submitted: 5 years ago.
Category: Law
Expert:  UK-Justice replied 5 years ago.
Thanks for your question, my name is Nic I will do whatever I can to help you today.

I dont understand - you are not paying for anything? The seller is paying?

When you say using you to bring money in the country - how?
Customer: replied 5 years ago.

We havent lost any money as yet, but if they are cash buyers why are there no funds to deposit money , and each time they are not available on arranged exchange dates, no one can get contact with their solictor, no one can tell us anything, i could be wrong, but feel nervous about the situation

Expert:  UK-Justice replied 5 years ago.
Its a matter for you. You could wait or move on.

If it were me I would continue to market the property and if you get another buyer then go with that one.

Either party can pull out of a property sale UNTIL contracts have been exchanged.

So no exchange - you can pull out if you get another buyer.

That is how I would deal with it.

I hope this helps and if there is anything else I can do to help you today please let me know.

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