| "No chain" buyer suddenly decides to sell his own house |
|
Description
Who is the Rogue?:
Buyer
How does it work?: A buyer may insist they don't have to sell their property in order to buy another and subsequently make an offer based on a strict timescale. This puts them in a much stronger position than someone caught up in a "chain". Unfortunately, after the offer is accepted, the buyer then changes his mind and looks tie in the sale of his own house thus significantly delaying the process. How to avoid this scam?: Make sure you obtain some proof before accepting the offer that the buyer is able to purchase another house without selling his (e.g., check he can raise another mortgage). Make it clear when accepting the offer that the proposed timeline should be adhered to. If not threaten to pull out. You should keep the house on the market until valuation is instructed to ensure the buyer moves quickly. Scam reviews There are no reviews for this item. To write a review please register or login. |