Will we ever exchange?



New Member
Being elderly and retired, we are trying to buy a bungalow and move from Greater London. We sold our house at the end of August 2020. Had offer accepted on a bungalow, vacant possession. All started and contract packs sent back. Up until present, we thought that there was only our buyers and theirs in the chain. This was until our EA questioned buyers EA a lot and discovered an investor buying from who we thought was the bottom of the chain. We’ve had so many stories from our EA. During January all talk was of ‘first time buyers’. One of them had to have an independent solicitor as all in that firm weren’t on the lenders panel. This all seemed to disappear at the start of February. The latest was last Friday when EA told us he’d been in contact with our buyers EA and said that the investor had now signed, returned his contract and lodged his deposit monies. Great, I thought. The briefs can start really talking. This changed yesterday as I told him I’d spoken to our solicitor and she’d received reply from buyers/investor guy’s solicitors that they were chasing. Chasing who, she replied but, no reply back. Our EA said it was probably investor guy more than likely who needs to lodge deposit. (He’s also using the same law firm as our buyers). But, you said last week that he had. Reiterated what he’d said at that time and it was good news? Yes, he’d said.
“No, didn’t say that“, he said. We have an ultimatum or we’d drop out of the whole deal for this Friday but, we don’t now want to remarket or drop out and play it out until one or the other show their hand. There’s something fishy going on with the whole deal and it doesn’t seem fair that we aren’t allowed to ring other EA’s and demand to know just what’s going on. Seems they’re all lying snakes at the end of the day. I know I can’t be ringing the 3rd party solicitors. Plus, it’s no use harassing ours as she’s doing her job diligently enough. Six calendar months this has been going and the stress of it all is affecting our health. It doesn’t seem that an exchange will take place and we have suspicions that our buyers could also be going through process for another property at the same time. We may be a bit paranoid there though. But after 43 years in same house, we’re totally green with the process of it all and all we wanted to do was sell ours and move.