Purplebricks under offer but still no sale/exchange

[johnpurple]

Hi everyone, I think I have made a mistake. Selling a house via purplebricks. The house went under offer within 4 weeks of been on market but still no exchange 6mths on. Having spoken to other local agent I'm not the only one. The problem I think is how their fee's are structure, basically they always get there money in 10mths, after that time what incentive is left? Also I found this having done more research I did an internet search and found an article under HSBC investments stating only 14% of sales convert to exchange.is anyone else having problems? If so what can I do about my situation?

[steampowered]

Hello and welcome to CAG

 

What are you waiting for purplebricks to do to push this forward? I thought estate agents only handle advertising, viewings and negotiation of price. You'll need a solicitor to help you exchange.

[johnpurple]

Well i went for the pay later option (10mths if no sale) and used their solicitors. They are very slow and commuication poor. 2 weeks ago told everthing fine and today im told buyer is having another survey is been done. I get the impression the buyer is keeping house off market to knock down the price later. After seeing only 14% of offers go to completion i believe theres alot of other people exeriencing the same issues. I feel really stressed by it all.

[johnpurple]

The survey is because the buyer has now decided to change lender

[steampowered]

It is probably your conveyancer that you need to deal with now rather than purplebricks. If you went with their option I imagine it would be the cheapest option available so you won't get the same level of service you'd get with a better conveyancer or a solicitor.

 

The only thing I can suggest is constantly nagging your conveyancer to make sure you are being kept updated, and that so you can deal with any problems quickly. When I had my survey done it only took a couple of days so keep pushing for an update.

[johnpurple]

Hi many thanks for the advice. Perhaps you are right. It would still be intesting to hear about other peoples experience with purplebricks.com

[bradfordlad]

Can't help with purplebricks unfortunately, but having a lot of experience in the housebuying process, I'd suggest you need to be on the solicitors case 24/7.

 

They will probably be one of the "big" names, who tend to palm all the standard paperwork to offshore centres (i.e Mumbai).

 

Bottom line - never go with the estate agents recommended solicitor unless it's a local firm that have a physical front door you can knock on (or kick down as necessary!!)

 

Good luck

[ssparks2003]

Agree with Bradforlad's comments. If you want the house sold you have to manage everybody involved.

 

We moved house at the end of last year, and to be honest from the moment we had an offer and we made an offer I did not go more than a day or two without phoning either one of the estate agents, the surveyor, mortgage advisor or solicitor, I think that my record was 15 call in a day. every call was followed up by an email confirming what had been agreed. Upshot was any problems were dealt with early and I was in control of my destiny. You can not sit around waiting for others to resolve since he who shouts loudest gets served first.